Gainesville, VA 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 Q1 2021. 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, VA Housing Market Trends

With a population of 12,750, 5,221 total housing units (homes and apartments), and a median house value of $553,215, Gainesville house prices are not only among the most expensive in Virginia, Gainesville real estate also is some of the most expensive in all of America.

Gainesville is a town of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Gainesville than is found in 98% of the communities in America.

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Gainesville. Owner-occupied housing accounts for 83.36% of Gainesville's homes, and 68.12% have either three or four bedrooms, which is average sized relative to America.

Gainesville homes and real estate are some of the newest in America. 74.84% of Gainesville's housing was built since 2000, making the town have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Gainesville real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 20.84%), and between 1940-1969 ( 4.21%).

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 50.23%, which ranks in the top 30% nationwide. This equates to an annual average Gainesville house appreciation rate of 4.15%.

Over the last year, Gainesville appreciation rates have trailed the rest of the nation. In the last twelve months, Gainesville's appreciation rate has been 2.89%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Gainesville were at 1.75%, which equates to an annual appreciation rate of 7.20%.

Relative to Virginia, our data show that Gainesville's latest annual appreciation rate is lower than 90% of the other cities and towns in Virginia.

One very important thing to keep in mind is that these are average appreciation rates for the town. 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:
$553,215

Gainesville, VA HOME PRICES

> $1,157,000
4.3%
4.3%
$867,001 - $1,157,000
8.6%
8.6%
$579,001 - $867,000
37.5%
37.5%
$463,001 - $579,000
23.4%
23.4%
$347,001 - $463,000
15.8%
15.8%
$231,001 - $347,000
6.9%
6.9%
$116,001 - $231,000
1.1%
1.1%
$58,001 - $116,000
1.9%
1.9%
$0 - $58,000
0.5%
0.5%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Very High for VA

Value Relative To Nation

Number Of Homes And Apartments:
5,221

Gainesville Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
VA*
Compared To
America*
Latest Quarter:
2020 Q4 - 2021 Q1
Last 12 Months:
2020 Q1 - 2021 Q1
Last 2 Years:
2019 Q1 - 2021 Q1
Last 5 Years:
2016 Q1 - 2021 Q1
Last 10 Years:
2011 Q1 - 2021 Q1
Since 2000:
2000 Q1 - 2021 Q1
95.73% 3.21%
7
7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,803 / per month

Homeownership Rate

Owners
83.4%
83.4%
Renters
16.6%
16.6%
Vacant
3.1%
3.1%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
74.8%
74.8%
1970 - 1999
20.8%
20.8%
1940 - 1969
4.2%
4.2%
1939 or Older
0.1%
0.1%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
63.6%
63.6%
Townhomes
23.1%
23.1%
Small Apt. Buildings
2.6%
2.6%
Apt. Complexes
9.4%
9.4%
Mobile Homes
1.3%
1.3%
Other
0.1%
0.1%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.8%
0.8%
1 Bedroom
2.5%
2.5%
2 Bedrooms
7.8%
7.8%
3 Bedrooms
30.5%
30.5%
4 Bedrooms
37.7%
37.7%
5 or more bedrooms
20.7%
20.7%
0.0% 100.0%
% OF HOMES