Total monthly cost of ownership
Cost to Own a Home in Gainesville, Georgia
A $337,000 home here costs
$2,730per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $117,000 a year.
A standard mortgage calculator would have told you $1,837. The real number is $893 higher every month, 49% more than the payment most buyers budget for.
Compare Hall County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Gainesville against Hall County and Georgia
| Measure | Gainesville | Hall County |
|---|---|---|
| Median home value | $337,000 | $313,600 |
| Median property tax | $2,725 | $2,382 |
| Effective tax rate | 0.809% | 0.760% |
| Median gross rent | $1,234 | $1,247 |
| Population | 44,051 | 208,395 |
The weather behind that power bill
Gainesville sits in Hall County, which averages a high of 88.1°F in its hottest month and a low of 33.7°F in its coldest, with 52.38" of precipitation a year and 27% of it in a single three-month stretch. That climate drives 1,632 cooling and 3,002 heating degree days, which is what sets the $171 electricity line above.
See the full climate breakdown for Hall County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Hall County
Talk to someone who works this market
These are Gainesville averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Gainesville every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Gainesville I already own here and may sell
Common questions
How much does it cost to own a home in Gainesville?
A $337,000 home in Gainesville, Georgia costs approximately $2,730 per month with 20% down at 7.24%. That is $1,837 principal and interest, $227 property tax, $146 homeowners insurance, $239 utilities and $281 set aside for maintenance.
What is the property tax rate in Gainesville?
Gainesville has an effective property tax rate of 0.809%, based on a median home value of $337,000 and median real estate taxes of $2,725. That is higher than the Hall County average of 0.760%.
What is the average home price in Gainesville?
The median owner-occupied home value in Gainesville, Georgia is $337,000, against $313,600 across Hall County.
Is it cheaper to rent or buy in Gainesville?
Median gross rent in Gainesville is $1,234 a month, against $2,730 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Gainesville?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Gainesville, Georgia at today's rate takes a household income of roughly $117,000 a year. That covers the full $2,730 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Gainesville, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for Georgia.
- Electricity price, EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate, Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.