Tallahassee, FL—32311
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 $326,000, with a year-over-year change of -0.1%. This indicates that home prices in Tallahassee, FL are flat. 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 | $326,000 | -0.1% |
| Single Family | $327,000 | 0.0% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $198,000 | -2.5% |
3 Bed | $326,000 | 0.6% |
4 Bed | $517,000 | 0.6% |
| 5 Bed | $743,000 | 0.5% |
% of Housing Stock
Rental Trends — Tallahassee, FL
As of July '25, Rentcast reports the average rent in Tallahassee, FL is $1,910, with a year-over-year rent change of -2.6%. Per bedroom, the median rent as of July '25 in Tallahassee, FL is studios: $1,040, 1-bedrooms: $1,400, 2-bedrooms: $1,430, 3-bedrooms: $2,140, 4-bedrooms: $3,060. The most common rental property sizes in Tallahassee, FL are 2-bedroom and 1-bedroom, accounting for 49.9% and 27.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,710 | $1,910 |
| Studio Rent | $860 | $1,040 |
| 1 Bed Rent | $1,250 | $1,400 |
| 2 Bed Rent | $1,300 | $1,430 |
| 3 Bed Rent | $2,100 | $2,140 |
| 4 Bed Rent | $3,000 | $3,060 |
% 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 50. This is a increase of 31.0% 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 | $379,000 | -8.0% |
Listing Count | 115 | 15.0% |
| Listings as % of Homes | 0.6% | 15.0% |
Days on Market | 50 | 31.0% |
Demographics — Tallahassee, FL
As of the latest ACS Survey released in 2023, Tallahassee, FL has a population of 21,100, which has remained stable by 0.1% over the past 5 years. Tallahassee, FL is a moderately popular place for families, as children make up 21.0% of the population. The area has a highly educated workforce, with 56.6% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 16.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 21,100 | 0.1% |
% Under 18 | 21.0% | -5.0% |
% Seniors | 15.8% | 31.7% |
% WFH | 16.5% | 469.0% |
% w/ College Degree | 56.6% | 12.7% |
As of the latest ACS Survey released in 2023, Tallahassee, FL is a predominantly white area, with 52.5% of the population identifying as white. The white population has shrunk by 6.7% in the last 5 years. The second most common race or ethnicity in Tallahassee, FL is black, making up 26.7% of the population. Foreign-born residents account for 10.9% of the population in Tallahassee, FL, and this percentage has increased by 18.5% 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 | 52.5% | -6.7% |
% Black | 26.7% | 1.9% |
% Hispanic | 8.8% | 39.7% |
% Asian | 6.4% | -7.2% |
% Foreign Born | 10.9% | 18.5% |
Mortgage and Risk — Tallahassee, FL
According to HUD data as of 2023, there were 384 mortgage originations in Tallahassee, FL, of which 76.0% of loans were conventional mortgages. The average loan-to-value was 68.0%, with 30.0% above 90% LTV (very high). This implies large mortgage risk in Tallahassee, FL. Investor activity is low, as 2.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 384 |
% Conventional Loans | 76.0% |
% Government Loans | 24.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Tallahassee, FL
As of 2024, the percent of homes in Tallahassee, FL under the Section 8 program is 2.9%. 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 units appear to be good home sizes to consider for Section 8 housing in Tallahassee, FL, because HUD payments exceed market rent, while 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 99 |
Total Units Section 8 | 99 |
% Rentals under Section 8 | 2.9% |
% Occupied Section 8 | 70.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $210 | $1,250 | $1,460 |
| 2 Bedroom | $330 | $1,300 | $1,630 |
| 3 Bedroom | -$50 | $2,100 | $2,050 |
| 4 Bedroom | -$740 | $3,000 | $2,260 |
Affordability — Tallahassee, FL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.8 |
| Median Home Price | $326,000 |
| Median Household Income | $80,200 |