The story of this market
The typical home in ZIP 76240 sells for about $556,834, or $236 per square foot.
Prices are up +4.2% from a year ago, so sellers still have some momentum. Homes take about 94 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $2,046 a month.
ZIP 76240 — Gainesville
The housing market in 76240 shows steady activity with a median price of $556,834, reflecting a 4.2% year-over-year increase. While inventory remains available, the market is supported by consistent demand and regional economic growth. Note that some specific metrics like exact months of supply and precise tax history are based on available market trends rather than granular ZIP-level census reports.
This area is well-suited for families and individuals seeking a balance between small-town living and access to the amenities of the North Texas region, offering a lower cost of living compared to the DFW urban core.
Median prices moved up 4.2% year over year.
Homes spend a median of 94 days on market with 5.2 months of supply — a balanced-paced market.
13% of listings have cut prices · homes sell at 97.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 4.8% · poverty 12.1% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 12.0%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 10.4%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
net influx — more people moved in than out
ZCTA 76240, Cooke County TX
The area is served by Gainesville ISD, which provides a range of public education options for the local community.
The region is subject to standard North Texas weather risks, including severe thunderstorms and occasional wind events; flood risk varies by proximity to local water bodies.
Economic momentum is driven by local manufacturing, retail, and service sectors, with ongoing residential development supporting population growth.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (Texas) — Senior (65+) and Disabled Homestead Exemption and School Tax Ceiling: Grants an additional mandatory $10,000 exemption from ISD appraised value (Taxable Value_ISD = Appraised Value - $100,000 - $10,000) and establishes an absolute statutory tax freeze (school tax ceiling): total ISD property taxes cannot exceed the dollar ceiling established in the… State (Texas) — General Residence Homestead Exemption and 10% Valuation Growth Cap: Imposes mandatory state-level valuation deductions and growth limitations on the qualifying homestead: (1) Mandates a $100,000 deduction from appraised value for independent school district (ISD) maintenance and operations/debt taxation: Taxable Value_ISD = Appraised Value - $100… State (Texas) — Ad Valorem Real Property Taxation and Assessment Ratio: Mandates ad valorem appraisal of all real property at 100% of fair market value as of January 1 each tax year (Assessment Ratio = 1.00).
Residents primarily rely on personal vehicles for commuting, with access to US-82 and I-35 providing connections to the broader Dallas-Fort Worth metroplex.
The area features access to Lake Kiowa for water-based recreation, local municipal parks, and various golf and outdoor facilities within the immediate vicinity.
The rental market is characterized by a mix of single-family homes and multi-family units, with demand supported by the local workforce and proximity to regional employment hubs.
The local economy is anchored by manufacturing, healthcare, and retail sectors, with significant employment provided by regional industrial parks and public services.
Transportation is primarily highway-based, with I-35 serving as the primary corridor for regional transit and logistics.
Development is focused on expanding residential capacity and improving local infrastructure to support the growing population.
The Cooke County Appraisal District manages property assessments, utilizing mass appraisal techniques to determine annual market values for tax purposes.
Parcels may be subject to school district taxes, county taxes, and potential special utility or emergency service district assessments.
Property insurance premiums are influenced by regional weather patterns, including wind and hail risk, which are common in North Texas.
Data retrieved from U.S. Census Bureau ACS 5-year estimates for ZCTA 76240.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
A private lake community offering boating, fishing, and golf facilities.
A major municipal park featuring sports fields, playgrounds, and a swimming pool.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.