Tallahassee, FL—32301
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Tallahassee, FL
As of Oct '25, the median home price in Tallahassee, FL is $204,000, with a year-over-year change of -1.3%. This indicates that home prices in Tallahassee, FL are decreasing. According to Zillow, the 1-year price projection is 0.1%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $204,000 | -1.3% |
| Single Family | $212,000 | -1.9% |
| Condos | $176,000 | 0.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $149,000 | -0.7% |
2 Bed | $177,000 | -0.6% |
3 Bed | $240,000 | -1.2% |
4 Bed | $301,000 | -1.0% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Tallahassee, FL
As of July '25, Rentcast reports the average rent in Tallahassee, FL is $1,470, with a year-over-year rent change of 7.3%. Per bedroom, the median rent as of July '25 in Tallahassee, FL is studios: $878, 1-bedrooms: $1,280, 2-bedrooms: $1,410, 3-bedrooms: $1,870, 4-bedrooms: $2,250. The most common rental property sizes in Tallahassee, FL are 2-bedroom and 1-bedroom, accounting for 40.7% and 26.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,320 | $1,470 |
| Studio Rent | $850 | $878 |
| 1 Bed Rent | $1,100 | $1,280 |
| 2 Bed Rent | $1,300 | $1,410 |
| 3 Bed Rent | $1,700 | $1,870 |
| 4 Bed Rent | $2,500 | $2,250 |
% of Rental Stock
Property Listings — Tallahassee, FL
As of Oct '25, Realtor.com reports that the median days on market for a home in Tallahassee, FL is 47. This is a increase of 13.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 19.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $252,000 | 16.0% |
Listing Count | 127 | 10.0% |
| Listings as % of Homes | 0.3% | 10.0% |
Days on Market | 47 | 13.0% |
Demographics — Tallahassee, FL
As of the latest ACS Survey released in 2023, Tallahassee, FL has a population of 32,600, which has increased by 6.1% over the past 5 years. Tallahassee, FL is a moderately popular place for families, as children make up 18.5% of the population. The area has a moderately educated workforce, with 45.0% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 32,600 | 6.1% |
% Under 18 | 18.5% | 24.2% |
% Seniors | 10.7% | 15.1% |
% WFH | 11.8% | 151.1% |
% w/ College Degree | 45.0% | 5.6% |
As of the latest ACS Survey released in 2023, Tallahassee, FL is a predominantly black area, with 49.6% of the population identifying as black. The black population has grown by 5.8% in the last 5 years. The second most common race or ethnicity in Tallahassee, FL is white, making up 37.8% of the population. Foreign-born residents account for 6.8% of the population in Tallahassee, FL, and this percentage has decreased by 11.7% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 37.8% | -10.2% |
% Black | 49.6% | 5.8% |
% Hispanic | 6.3% | 6.8% |
% Asian | 3.0% | 30.4% |
% Foreign Born | 6.8% | -11.7% |
Mortgage and Risk — Tallahassee, FL
According to HUD data as of 2023, there were 347 mortgage originations in Tallahassee, FL, of which 76.0% of loans were conventional mortgages. The average loan-to-value was 71.0%, with 37.0% above 90% LTV (very high). This implies large mortgage risk in Tallahassee, FL. Investor activity is low, as 9.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 347 |
% Conventional Loans | 76.0% |
% Government Loans | 24.0% |
% Investor Loans | 9.0% |
% Second Loans | 5.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Tallahassee, FL
As of 2024, the percent of homes in Tallahassee, FL under the Section 8 program is 8.7%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 2-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Tallahassee, FL, because HUD payments exceed market rent, while 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 1,065 |
Total Units Section 8 | 1,007 |
% Rentals under Section 8 | 8.7% |
% Occupied Section 8 | 76.8% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $130 | $1,100 | $1,230 |
| 2 Bedroom | $80 | $1,300 | $1,380 |
| 3 Bedroom | $40 | $1,700 | $1,740 |
| 4 Bedroom | -$590 | $2,500 | $1,910 |
Affordability — Tallahassee, FL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.9 |
| Median Home Price | $204,000 |
| Median Household Income | $50,400 |