Tallahassee, FL—32303
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 $234,000, with a year-over-year change of -1.6%. This indicates that home prices in Tallahassee, FL are decreasing. According to Zillow, the 1-year price projection is 0.3%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $234,000 | -1.6% |
| Single Family | $240,000 | -1.2% |
| Condos | $161,000 | -1.2% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $128,000 | -1.5% |
2 Bed | $166,000 | -1.8% |
3 Bed | $243,000 | -0.4% |
4 Bed | $326,000 | 0.6% |
| 5 Bed | $484,000 | 0.8% |
% of Housing Stock
Rental Trends — Tallahassee, FL
As of July '25, Rentcast reports the average rent in Tallahassee, FL is $1,530, with a year-over-year rent change of 0.7%. Per bedroom, the median rent as of July '25 in Tallahassee, FL is studios: $841, 1-bedrooms: $991, 2-bedrooms: $1,360, 3-bedrooms: $1,810, 4-bedrooms: $1,930. The most common rental property sizes in Tallahassee, FL are 2-bedroom and 3-bedroom, accounting for 43.7% and 27.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,420 | $1,530 |
| Studio Rent | $650 | $841 |
| 1 Bed Rent | $950 | $991 |
| 2 Bed Rent | $1,300 | $1,360 |
| 3 Bed Rent | $1,650 | $1,810 |
| 4 Bed Rent | $1,850 | $1,930 |
% 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 51. This is a increase of 9.0% 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 21.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $269,000 | 12.0% |
Listing Count | 231 | 22.0% |
| Listings as % of Homes | 0.7% | 22.0% |
Days on Market | 51 | 9.0% |
Demographics — Tallahassee, FL
As of the latest ACS Survey released in 2023, Tallahassee, FL has a population of 49,900, which has remained stable by -1.0% over the past 5 years. Tallahassee, FL is a moderately popular place for families, as children make up 17.7% of the population. The area has a highly educated workforce, with 45.9% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 49,900 | -1.0% |
% Under 18 | 17.7% | -2.7% |
% Seniors | 10.9% | -6.8% |
% WFH | 10.3% | 221.9% |
% w/ College Degree | 45.9% | 10.6% |
As of the latest ACS Survey released in 2023, Tallahassee, FL is a predominantly white area, with 49.8% of the population identifying as white. The white population has shrunk by 9.3% in the last 5 years. The second most common race or ethnicity in Tallahassee, FL is black, making up 34.3% of the population. Foreign-born residents account for 7.9% of the population in Tallahassee, FL, and this percentage has increased by 58.0% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 49.8% | -9.3% |
% Black | 34.3% | -6.3% |
% Hispanic | 8.3% | 80.4% |
% Asian | 2.9% | 45.0% |
% Foreign Born | 7.9% | 58.0% |
Mortgage and Risk — Tallahassee, FL
According to HUD data as of 2023, there were 808 mortgage originations in Tallahassee, FL, of which 64.0% of loans were conventional mortgages. The average loan-to-value was 73.0%, with 45.0% above 90% LTV (very high). This implies large mortgage risk in Tallahassee, FL. Investor activity is low, as 6.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 808 |
% Conventional Loans | 64.0% |
% Government Loans | 36.0% |
% Investor Loans | 6.0% |
% Second Loans | 4.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Tallahassee, FL
As of 2024, the percent of homes in Tallahassee, FL under the Section 8 program is 5.3%. 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. In Tallahassee, FL, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 615 |
Total Units Section 8 | 575 |
% Rentals under Section 8 | 5.3% |
% Occupied Section 8 | 73.3% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $300 | $950 | $1,250 |
| 2 Bedroom | $100 | $1,300 | $1,400 |
| 3 Bedroom | $110 | $1,650 | $1,760 |
| 4 Bedroom | $90 | $1,850 | $1,940 |
Affordability — Tallahassee, FL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.5 |
| Median Home Price | $234,000 |
| Median Household Income | $63,100 |