Tallahassee, FL—32308
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 $331,000, with a year-over-year change of -2.1%. This indicates that home prices in Tallahassee, FL are decreasing. According to Zillow, the 1-year price projection is 0.2%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $331,000 | -2.1% |
| Single Family | $335,000 | -1.8% |
| Condos | $269,000 | -1.8% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $203,000 | -3.8% |
3 Bed | $321,000 | -2.4% |
4 Bed | $478,000 | -0.8% |
| 5 Bed | $722,000 | 0.1% |
% of Housing Stock
Rental Trends — Tallahassee, FL
As of July '25, Rentcast reports the average rent in Tallahassee, FL is $1,800, with a year-over-year rent change of 0.0%. Per bedroom, the median rent as of July '25 in Tallahassee, FL is studios: $1,890, 1-bedrooms: $1,530, 2-bedrooms: $1,420, 3-bedrooms: $2,190, 4-bedrooms: $3,330. The most common rental property sizes in Tallahassee, FL are 2-bedroom and 1-bedroom, accounting for 56.0% and 26.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,600 | $1,800 |
| Studio Rent | $1,890 | $1,890 |
| 1 Bed Rent | $1,390 | $1,530 |
| 2 Bed Rent | $1,350 | $1,420 |
| 3 Bed Rent | $2,200 | $2,190 |
| 4 Bed Rent | $3,500 | $3,330 |
% 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 increase of 16.0% 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 18.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $386,000 | 4.0% |
Listing Count | 114 | 14.0% |
| Listings as % of Homes | 0.6% | 14.0% |
Days on Market | 66 | 16.0% |
Demographics — Tallahassee, FL
As of the latest ACS Survey released in 2023, Tallahassee, FL has a population of 23,200, which has increased by 3.5% over the past 5 years. Tallahassee, FL is a moderately popular place for families, as children make up 15.3% of the population. The area has a highly educated workforce, with 56.0% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 23,200 | 3.5% |
% Under 18 | 15.3% | -20.7% |
% Seniors | 23.6% | 15.1% |
% WFH | 8.7% | 102.3% |
% w/ College Degree | 56.0% | -3.1% |
As of the latest ACS Survey released in 2023, Tallahassee, FL is a predominantly white area, with 65.2% of the population identifying as white. The white population has shrunk by 1.8% in the last 5 years. The second most common race or ethnicity in Tallahassee, FL is black, making up 21.6% of the population. Foreign-born residents account for 7.9% of the population in Tallahassee, FL, and this percentage has decreased by 16.0% 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 | 65.2% | -1.8% |
% Black | 21.6% | -4.8% |
% Hispanic | 7.9% | 49.1% |
% Asian | 2.3% | -30.3% |
% Foreign Born | 7.9% | -16.0% |
Mortgage and Risk — Tallahassee, FL
According to HUD data as of 2023, there were 417 mortgage originations in Tallahassee, FL, of which 81.0% of loans were conventional mortgages. The average loan-to-value was 70.0%, with 36.0% above 90% LTV (very high). This implies large mortgage risk in Tallahassee, FL. Investor activity is low, as 4.0% 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 | 417 |
% Conventional Loans | 81.0% |
% Government Loans | 19.0% |
% Investor Loans | 4.0% |
% Second Loans | 1.0% |
% 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 2.2%. 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. 2-bedroom units appear to be good home sizes to consider for Section 8 housing in Tallahassee, FL, because HUD payments exceed market rent, while 1-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 106 |
Total Units Section 8 | 106 |
% Rentals under Section 8 | 2.2% |
% Occupied Section 8 | 70.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$160 | $1,390 | $1,230 |
| 2 Bedroom | $30 | $1,350 | $1,380 |
| 3 Bedroom | -$460 | $2,200 | $1,740 |
| 4 Bedroom | -$1,590 | $3,500 | $1,910 |
Affordability — Tallahassee, FL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.3 |
| Median Home Price | $331,000 |
| Median Household Income | $73,100 |