Tallahassee, FL—32305
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 $189,000, with a year-over-year change of -5.6%. 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 | $189,000 | -5.6% |
| Single Family | $189,000 | -5.5% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $139,000 | -7.3% |
3 Bed | $204,000 | -1.4% |
4 Bed | $265,000 | -0.4% |
| 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 $1,500, with a year-over-year rent change of 9.5%. Per bedroom, the median rent as of July '25 in Tallahassee, FL is 1-bedrooms: $600, 2-bedrooms: $1,200, 3-bedrooms: $1,480, 4-bedrooms: $1,950. The most common rental property sizes in Tallahassee, FL are 3-bedroom and 2-bedroom, accounting for 42.3% and 36.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,400 | $1,500 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $600 | $600 |
| 2 Bed Rent | $1,100 | $1,200 |
| 3 Bed Rent | $1,400 | $1,480 |
| 4 Bed Rent | $1,500 | $1,950 |
% 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 66. This is a decrease of -2.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 32.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $254,000 | 14.0% |
Listing Count | 50 | 6.0% |
| Listings as % of Homes | 0.4% | 6.0% |
Days on Market | 66 | -2.0% |
Demographics — Tallahassee, FL
As of the latest ACS Survey released in 2023, Tallahassee, FL has a population of 19,700, which has decreased by -4.7% over the past 5 years. Tallahassee, FL is a popular place for families, as children make up 25.9% of the population. The area has a poorly educated workforce, with 19.6% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 19,700 | -4.7% |
% Under 18 | 25.9% | 2.8% |
% Seniors | 16.2% | 11.0% |
% WFH | 9.2% | 338.1% |
% w/ College Degree | 19.6% | -5.8% |
As of the latest ACS Survey released in 2023, Tallahassee, FL is a predominantly black area, with 56.9% of the population identifying as black. The black population has remained stable in the last 5 years. The second most common race or ethnicity in Tallahassee, FL is white, making up 32.7% of the population. Foreign-born residents account for 2.9% of the population in Tallahassee, FL, and this percentage has increased by 20.8% 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 | 32.7% | -10.9% |
% Black | 56.9% | 0.0% |
% Hispanic | 4.6% | 0.0% |
% Asian | 1.1% | 450.0% |
% Foreign Born | 2.9% | 20.8% |
Mortgage and Risk — Tallahassee, FL
According to HUD data as of 2023, there were 208 mortgage originations in Tallahassee, FL, of which 48.0% of loans were conventional mortgages. The average loan-to-value was 79.0%, with 55.0% above 90% LTV (very high). This implies large mortgage risk in Tallahassee, FL. Investor activity is low, as 1.0% of loans were by investors. 17.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 208 |
% Conventional Loans | 48.0% |
% Government Loans | 52.0% |
% Investor Loans | 1.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 17.0% |
Loan Activity
Rentals and Section 8 — Tallahassee, FL
As of 2024, the percent of homes in Tallahassee, FL under the Section 8 program is 17.0%. This is considered high, suggesting that the neighborhood is heavily 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 | 543 |
Total Units Section 8 | 543 |
% Rentals under Section 8 | 17.0% |
% Occupied Section 8 | 74.3% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $470 | $600 | $1,070 |
| 2 Bedroom | $110 | $1,100 | $1,210 |
| 3 Bedroom | $140 | $1,400 | $1,540 |
| 4 Bedroom | $220 | $1,500 | $1,720 |
Affordability — Tallahassee, FL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.9 |
| Median Home Price | $189,000 |
| Median Household Income | $47,700 |