Neighborhood · Gainesville, Fl, Florida
Palm Terrace
A compact Gainesville pocket that moves fast
1
Homes for sale
$475,000
Median list price
$377
Avg price / sqft
57
Median days on market
Palm Terrace sits within the wider fabric of Gainesville, Fl homes for sale, a neighborhood that trades quietly among nearby communities like Debra Heights, Sugar Hill, and Ironwood. It's the kind of place where inventory is small and homes are the everyday size buyers actually want — a median of 1,261 square feet — rather than sprawling estates. Families here are assigned to schools including Gainesville High School and Westwood Middle School.
The market reality is simple: this is a low-supply, quick-turn neighborhood. With just one active listing at $475,000 and a median of only one day on market, well-priced homes don't linger. Over the last 12 months three homes sold at a median of $500,000, with sellers collecting about 95% of asking — so serious buyers should come ready to move.
Palm Terrace is a community in Gainesville, Fl, Florida.
Quick facts
$475,000 – $475K price range
1,261 sqft median home
$1,850/mo median rent
3 sold in 12 months
On the market now
Homes for sale in Palm Terrace
Every active listing inside the Palm Terrace boundary
Open full map search →The numbers that matter
The Palm Terrace market
3
Sold, last 12 months
$500,000
Median sold price
95%
Sale-to-list ratio
What sellers actually get vs asking
95 days
Median time to sell
Palm Terrace vs Gainesville, Fl
Median list price
Price per sqft
Days on market
Median sold price — 3-yr, 3-mo rolling
▲ 8.9% yr/yr
Homes sold per month
Live Stellar MLS data — every listing and closed sale inside the Palm Terrace boundary. Rolling medians smooth single-month swings in small communities.
For the school run
Schools Palm Terrace is zoned for
Attendance boundaries overlapping this community — always verify zoning with the district.
What it really costs
Owning here
Owning the median Palm Terrace home
≈ $3,127/mo
$475,000 median · 20% down · 30-yr fixed at 6.9% · taxes/HOA from live listing data · insurance is a Florida estimate.
$1,850/mo
Median rent
Homes for rent inside the boundary
Population
382
Median age
27
Median income
$74,018
Median home value
$280,100
Beyond the listings
Living in Palm Terrace
Attitudes
Top 6% in the U.S.Volunteering & Giving
Expressing a desire to give back and do good for the community, this behavior emphasizes charity. Common activities include volunteering, fundraisers, and donations.
Hobbies & Interests
Top 8% in the U.S.Green Thumb
From tiny sprouts and window plants, to flower arrangements and designing a landscape, this population has an affinity for all things green.
Beliefs
Top 8% in the U.S.Activism
This population seeks to advocate for a more just world. Common activities include protests, rallies, and spreading awareness to the public about social justice issues.
Active
Top 9% in the U.S.Organized Sports
From tryouts and casual pick-up games, to varsity tournaments and intramural matches, this population includes people who participate in organized athletics. Often through schools or public recreational areas.
Relationships
Top 9% in the U.S.Networking
Driven to succeed in the business world, this population seeks to progress in their career through networking happy hours, summits, and connecting with other professionals online.
Lifestyles
Top 10% in the U.S.Student Life
There's more to student life than academics. It's about the experience - from classes and homecoming, to making lifetime friends and alumni events. These are students at school, taking classes online, or finding other ways to be students in their daily lives.
Straight answers
Palm Terrace FAQs
Is Palm Terrace a good place to live?+
It's a small, established Gainesville neighborhood tucked among communities like Porters Community and Royal Gardens, with assigned schools including Gainesville High School. Homes here are modestly sized around 1,261 square feet, which suits buyers who want a manageable single-family home close to the rest of the city.
Is Palm Terrace expensive?+
It sits in a mid-range band for Gainesville, with the current active listing at $475,000 and recent sales at a median of $500,000. At roughly $377 per square foot, you're paying for location and quick-turn demand rather than square footage.
What do homes cost in Palm Terrace?+
The single active listing is priced at $475,000, while homes sold over the past 12 months closed at a median of $500,000. You can track current availability on the live map as new listings appear.
How is the market right now?+
It's tight and fast — only one home is active and the median days on market is just one. With three sales in the last year and sellers averaging 95% of asking, buyers should expect limited choices and little room to negotiate on well-priced homes.
What about HOA fees and property taxes?+
There's no reported HOA for the neighborhood, which keeps monthly carrying costs simpler. Median property tax runs about $4,971 per year, and median rent in the area is around $1,875 per month if you're weighing renting against buying.
Keep exploring
More Gainesville, Fl neighborhoods
Neighborhood boundary by edgeAI; listings matched to the polygon. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by Stellar MLS.
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