What is the Best Neighborhoods USA ranking for Palm Terrace?
Palm Terrace is ranked #27 of 40 eligible neighborhoods in Gainesville; #579 of 1,145 eligible neighborhoods in FL; and #9,535 of 14,967 eligible neighborhoods in the United States.
Neighborhood Profile
Palm Terrace
Gainesville, FL | Alachua County
Scored premium profile
Best Neighborhoods USA Index
44.6
Stability and Strength
51.3
Value Opportunity
63.0
Momentum
8.0
Score note: Rankings show denominators so users always see the size of the eligible cohort.
| Context | Value |
|---|---|
| Location | Gainesville, FL |
| County | Alachua County |
| National rank | #9,535 of 14,967 |
| State rank | #579 of 1,145 |
| City rank | #27 of 40 |
| County rank | #27 of 40 |
| National percentile | 36.3 |
| National band | MIDDLE_50_PERCENT |
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Housing and local fundamentals
| Housing and market metrics | Value |
|---|---|
| Current Zillow home value | $403,867 |
| Year-over-year home value change | -5.6% |
| Month-over-month home value change | -0.40% |
| Home value to income ratio | 4.36 |
| Median household income | $92,679 |
| Bachelor's degree or higher | 84.7% |
| Civilian unemployment rate | 16.4% |
| Homeownership rate | 47.2% |
| Housing vacancy rate | 0.0% |
| Rent burden 30% or higher | 79.2% |
How to read this profile
- Ranks are always shown with denominators.
- Momentum reflects both year-over-year and month-over-month housing change.
- Stability and Strength and Value Opportunity are governed composite scores.
- Identity composition is descriptive intelligence and is not a scoring component.
Questions and Answers
Questions About Living in Palm Terrace
Is Palm Terrace one of the best neighborhoods in Gainesville?
Palm Terrace has a Best Neighborhoods USA Index of 44.6 and a city ranking of #27 of 40 eligible neighborhoods in Gainesville.
How much are homes worth in Palm Terrace?
The current Zillow Home Value Index for Palm Terrace is approximately $403,867.
Are home values rising or falling in Palm Terrace?
Zillow neighborhood values changed -5.6% year over year and -0.40% month over month.
What is the Neighborhood Momentum Score for Palm Terrace?
Palm Terrace has a Neighborhood Momentum Score of 8.0. Momentum is 70% year-over-year and 30% month-over-month Zillow housing change.
What is the median household income in Palm Terrace?
The NDS-derived neighborhood median household income is approximately $92,679.
How affordable is Palm Terrace relative to household income?
The current Zillow home-value-to-household-income ratio is 4.36. Price-to-income affordability is a major Value Opportunity input.
Is Palm Terrace primarily homeowners or renters?
The NDS-derived homeownership rate is approximately 47.2%.
What is the unemployment rate in Palm Terrace?
The NDS-derived civilian unemployment rate is approximately 16.4%.
How educated are residents of Palm Terrace?
Approximately 84.7% of residents age 25 and older are estimated to have a bachelor's degree or higher.
What share of renters in Palm Terrace face high rent burden?
Approximately 79.2% of the applicable renter-household universe is estimated to spend 30% or more of household income on gross rent.
How does Best Neighborhoods USA score Palm Terrace?
The overall index combines 40% Stability and Strength, 35% Value Opportunity, and 25% Momentum. Race, ethnicity, and identity composition are not scoring components.
Governed ranking context
How this neighborhood ranks
HMDA Mortgage Intelligence
Neighborhood Mortgage Market
Modeled neighborhood-level mortgage activity allocated from governed HMDA tract data using Zillow neighborhood geometry. These neighborhood values are nonadditive and do not enter the Best Neighborhoods USA Index.
Activity year2024
Estimated applications4
Estimated originations2
Home-purchase applications2
Origination rate58.2%
Home-purchase share55.5%
Average application loan$306,364
Total application loan amount$1,138,783
National application rank#14,092 of 14,874 rankable neighborhoods
Geometry coverage100.0%
Recent trend: Applications 18.3% YoY; originations 20.8% YoY
Mortgage methodology
HMDA is natively reported at tract and other lender-reporting geographies, not Zillow neighborhood or ZIP geography. This module uses the certified NDS HMDA-to-Zillow tract-vintage crosswalk and area-weighted allocation. Rankings require governed geometry coverage. Applicant demographics are excluded. Neighborhood values may overlap and must not be summed to reconstruct ZIP or national totals.