Tallahassee, FL—32310
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 $173,000, with a year-over-year change of -5.0%. 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 | $173,000 | -5.0% |
| Single Family | $173,000 | -4.9% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $128,000 | -3.0% |
3 Bed | $187,000 | -2.6% |
4 Bed | $238,000 | -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 $1,250, with a year-over-year rent change of 2.5%. Per bedroom, the median rent as of July '25 in Tallahassee, FL is studios: $700, 1-bedrooms: $789, 2-bedrooms: $1,090, 3-bedrooms: $1,510, 4-bedrooms: $1,780. The most common rental property sizes in Tallahassee, FL are 2-bedroom and 3-bedroom, accounting for 33.8% and 33.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,150 | $1,250 |
| Studio Rent | $700 | $700 |
| 1 Bed Rent | $775 | $789 |
| 2 Bed Rent | $1,100 | $1,090 |
| 3 Bed Rent | $1,300 | $1,510 |
| 4 Bed Rent | $1,750 | $1,780 |
% 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 75. This is a increase of 33.0% 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 6.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $250,000 | -3.0% |
Listing Count | 62 | 17.0% |
| Listings as % of Homes | 0.4% | 17.0% |
Days on Market | 75 | 33.0% |
Demographics — Tallahassee, FL
As of the latest ACS Survey released in 2023, Tallahassee, FL has a population of 14,800, which has decreased by -6.9% over the past 5 years. Tallahassee, FL is a moderately popular place for families, as children make up 24.2% of the population. The area has a poorly educated workforce, with 22.3% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 3.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 14,800 | -6.9% |
% Under 18 | 24.2% | 4.3% |
% Seniors | 13.5% | 18.4% |
% WFH | 3.6% | 20.0% |
% w/ College Degree | 22.3% | 8.8% |
As of the latest ACS Survey released in 2023, Tallahassee, FL is a predominantly black area, with 50.2% of the population identifying as black. The black population has shrunk by 0.8% in the last 5 years. The second most common race or ethnicity in Tallahassee, FL is white, making up 36.4% of the population. Foreign-born residents account for 3.8% of the population in Tallahassee, FL, and this percentage has decreased by 2.6% 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 | 36.4% | -7.8% |
% Black | 50.2% | -0.8% |
% Hispanic | 8.9% | 30.9% |
% Asian | 0.3% | -75.0% |
% Foreign Born | 3.8% | -2.6% |
Mortgage and Risk — Tallahassee, FL
According to HUD data as of 2023, there were 175 mortgage originations in Tallahassee, FL, of which 61.0% of loans were conventional mortgages. The average loan-to-value was 74.0%, with 45.0% above 90% LTV (very high). This implies large mortgage risk in Tallahassee, FL. Investor activity is low, as 7.0% of loans were by investors. 13.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 175 |
% Conventional Loans | 61.0% |
% Government Loans | 39.0% |
% Investor Loans | 7.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 13.0% |
Loan Activity
Rentals and Section 8 — Tallahassee, FL
As of 2024, the percent of homes in Tallahassee, FL under the Section 8 program is 19.4%. 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. 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 | 575 |
Total Units Section 8 | 535 |
% Rentals under Section 8 | 19.4% |
% Occupied Section 8 | 73.7% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $295 | $775 | $1,070 |
| 2 Bedroom | $110 | $1,100 | $1,210 |
| 3 Bedroom | $240 | $1,300 | $1,540 |
| 4 Bedroom | -$30 | $1,750 | $1,720 |
Affordability — Tallahassee, FL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.5 |
| Median Home Price | $173,000 |
| Median Household Income | $38,500 |