Gainesville, FL Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Gainesville, FL Housing Market Trends

With 133,997 people, 49,143 houses or apartments, and a median cost of homes of $200,943, Gainesville real estate and house prices are near the national average for all cities and towns.

Large apartment complexes or high rise apartments are the single most common housing type in Gainesville, accounting for 41.49% of the city's housing units. Other types of housing that are prevalent in Gainesville include single-family detached homes ( 39.87%), duplexes, homes converted to apartments or other small apartment buildings ( 11.41%), and a few row houses and other attached homes ( 5.07%). Cities that are predominantly high-density buildings are relatively uncommon in the US. Because of the density, these types of cities are often walkable and compact, and often have a lively downtown.

Gainesville is dominated by renter-occupied one, two, or no bedrooms apartments. 65.47% of Gainesville's dwellings are rentals.

There is a lot of housing in Gainesville built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Gainesville built between 1940-1969 ( 22.93%). A lesser amount of the housing stock also hails from between 2000 and later ( 17.01%). There's also some housing in Gainesville built before 1939 ( 2.54%).

Vacant housing appears to be an issue in Gainesville. Fully 18.50% of the housing stock is classified as vacant. Left unchecked, vacant Gainesville homes and apartments can be a drag on the real estate market, holding Gainesville real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Gainesville Home Appreciation Rates

Appreciation rates for homes in Gainesville have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 34.19%, which ranks in the top 50% nationwide. This equates to an annual average Gainesville house appreciation rate of 2.98%.

Appreciation rates are so strong in Gainesville that despite a nationwide downturn in the housing market, Gainesville real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Gainesville appreciation rates continue to be some of the highest in America, at 7.40%, which is higher than appreciation rates in 91.71% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Gainesville. Gainesville appreciation rates in the latest quarter were at 0.97%, which equates to an annual appreciation rate of 3.92%.

Notably, Gainesville's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Florida, our data show that Gainesville's latest annual appreciation rate is higher than 50% of the other cities and towns in Florida.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Gainesville differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Gainesville - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Gainesville real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$200,943

Gainesville, FL HOME PRICES

> $1,246,000
0.2%
0.2%
$935,001 - $1,246,000
0.2%
0.2%
$623,001 - $935,000
2.6%
2.6%
$499,001 - $623,000
2.3%
2.3%
$374,001 - $499,000
6.9%
6.9%
$249,001 - $374,000
16.8%
16.8%
$125,001 - $249,000
40.9%
40.9%
$62,001 - $125,000
23.6%
23.6%
$0 - $62,000
6.6%
6.6%
0.0% 100.0%
% OF HOMES
Value Relative To State

Average for Nation

Low for FL

Value Relative To Nation

Number Of Homes And Apartments:
49,143

Gainesville Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
FL*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
111.49% 3.63%
4
9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,192 / per month

Homeownership Rate

Owners
34.5%
34.5%
Renters
65.5%
65.5%
Vacant
18.5%
18.5%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
17.0%
17.0%
1970 - 1999
57.5%
57.5%
1940 - 1969
22.9%
22.9%
1939 or Older
2.5%
2.5%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
39.9%
39.9%
Townhomes
5.1%
5.1%
Small Apt. Buildings
11.4%
11.4%
Apt. Complexes
41.5%
41.5%
Mobile Homes
2.1%
2.1%
Other
0.1%
0.1%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
3.7%
3.7%
1 Bedroom
15.1%
15.1%
2 Bedrooms
34.1%
34.1%
3 Bedrooms
32.8%
32.8%
4 Bedrooms
13.3%
13.3%
5 or more bedrooms
1.0%
1.0%
0.0% 100.0%
% OF HOMES