Property Market in Gainesville, Florida
Understanding Buying Real Estate in Florida
The University of Florida - Gainesville
- Population: 124,000
- Condo: $55,000 – $220,000
- Family home: $180,000 – $2.4m
- Waterfront: N/A
- Investment Potential rating: ***
- Nearest international Airport: Jacksonville international Airport, 80 miles.
Gainesville is a medium sized city right in the middle of the northern part of Florida. The city’s location is convenient for both the coasts, and also Orlando and Tampa, which are a 90 minute and two hour drive away, respectively. The city has a fascinating southern heritage and Civil War history.
Downtown has many beautiful historic buildings including the famous Hippodrome State Theater. There are several good historical museums, a butterfly rain forest, a railroad museum, and a museum of art, as well as an historic state park and a good repertory theater.
The city is dominated by the University of Florida campus, which may offer consistent rental income potential for investors. In 2007 Gainesville was voted number one place to live in North America. Gainesville is also known as “Tree City USA” in reference to the wide variety of tree species, and dense tree canopies belonging to the city.
Gainesville is also surrounded by easily accessible state parks and is close to Newman’s Lake. The climate is humid subtropical, but with greater weather variation over the year than other areas of the state, and varied flora and fauna also in comparison to the coastal regions of Florida.
Property for Sale in Gainesville, Florida
Gainesville has a wide variety of family homes available and a fairly limited condo market. At the top end of the market there are luxury homes above $2 M. There are some really spacious and desirable new build four bedroom family homes in the $285,000 bracket. The market is picking up, with the number of sales by the middle of 2013 jumping fifty percent on the previous year.
Home prices are climbing, but somewhat more slowly than in other Florida cities, rising only 4.7 percent since the same period in 2012. But hey, a rise is still good, slow and steady may well win the race when it comes to Florida property. Investment homes for the university rental market are recommended here as a good long-term investment.