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9. Gainesville, FL
Gainesville
Home price forecast (1 year):* -13.4%
While the job market in Gainesville has weakened, the unemployment rate was still, at 7.9%, much lower than the national average. The college town has been able to retain many of its former University of Florida students.

But like most Sunshine State cities, Gainesville home prices rang up some outsized gains during the bubble and the city is now giving most of those increases back. Already, prices are down nearly 23% from their early 2007 peak and another 13.4% decline is predicted this year.
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Population:
(2006)
180,291
Median family income:
(2008)
$56,600
Median home price:
(2009)
$184,000
Affordability index:
(Median home price/family income 2009)
3.3
Prices peaked in: 2007:Q1
Total climb during the boom:
(2000 to peak)
96.9%
Total decline so far:
(Peak through 2009)
-22.7%
One-year change:
(Q4 2008 to Q4 2009)
-8.5%
Additional price change to bottom: -17.3%
When they'll hit bottom: 2011:Q3
*(Q1 2010 - Q1 2011)
† Data is for Gainesville, FL Metropolitan Statistical Area
Notes:
Median home prices are for single-family homes through the third quarter of 2009, the most recent data available, and include sales of bank-owned properties.
Sources: Fiserv and Moody's Economy.com
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