Tallahassee, FL—32304
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 $166,000, with a year-over-year change of -1.1%. 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 | $166,000 | -1.1% |
| Single Family | $175,000 | -1.1% |
| Condos | $136,000 | 0.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $105,000 | 12.9% |
2 Bed | $138,000 | -2.1% |
3 Bed | $183,000 | -0.5% |
4 Bed | $237,000 | -1.7% |
| 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 $1,420, with a year-over-year rent change of 6.0%. Per bedroom, the median rent as of July '25 in Tallahassee, FL is studios: $1,170, 1-bedrooms: $1,070, 2-bedrooms: $1,300, 3-bedrooms: $1,630, 4-bedrooms: $1,880. The most common rental property sizes in Tallahassee, FL are 2-bedroom and 1-bedroom, accounting for 27.0% and 26.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,350 | $1,420 |
| Studio Rent | $1,000 | $1,170 |
| 1 Bed Rent | $1,050 | $1,070 |
| 2 Bed Rent | $1,300 | $1,300 |
| 3 Bed Rent | $1,600 | $1,630 |
| 4 Bed Rent | $1,800 | $1,880 |
% 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 80. This is a increase of 2.0% 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 24.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $189,000 | -2.0% |
Listing Count | 109 | 2.0% |
| Listings as % of Homes | 0.3% | 2.0% |
Days on Market | 80 | 2.0% |
Demographics — Tallahassee, FL
As of the latest ACS Survey released in 2023, Tallahassee, FL has a population of 50,100, which has increased by 4.8% over the past 5 years. Tallahassee, FL is a less popular place for families, as children make up 7.6% of the population. The area has a moderately educated workforce, with 36.2% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 13.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 50,100 | 4.8% |
% Under 18 | 7.6% | -2.6% |
% Seniors | 3.4% | 6.2% |
% WFH | 13.6% | 257.9% |
% w/ College Degree | 36.2% | 26.6% |
As of the latest ACS Survey released in 2023, Tallahassee, FL is a predominantly white area, with 45.2% of the population identifying as white. The white population has shrunk by 7.8% in the last 5 years. The second most common race or ethnicity in Tallahassee, FL is black, making up 36.9% of the population. Foreign-born residents account for 7.7% of the population in Tallahassee, FL, and this percentage has decreased by 9.4% 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 | 45.2% | -7.8% |
% Black | 36.9% | 5.1% |
% Hispanic | 10.3% | 7.3% |
% Asian | 3.7% | -2.6% |
% Foreign Born | 7.7% | -9.4% |
Mortgage and Risk — Tallahassee, FL
According to HUD data as of 2023, there were 192 mortgage originations in Tallahassee, FL, of which 70.0% of loans were conventional mortgages. The average loan-to-value was 80.0%, with 47.0% above 90% LTV (very high). This implies large mortgage risk in Tallahassee, FL. Investor activity is low, as 15.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 192 |
% Conventional Loans | 70.0% |
% Government Loans | 30.0% |
% Investor Loans | 15.0% |
% Second Loans | 9.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — Tallahassee, FL
As of 2024, the percent of homes in Tallahassee, FL under the Section 8 program is 5.9%. 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. 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 | 1,224 |
Total Units Section 8 | 991 |
% Rentals under Section 8 | 5.9% |
% Occupied Section 8 | 79.1% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $120 | $1,050 | $1,170 |
| 2 Bedroom | $10 | $1,300 | $1,310 |
| 3 Bedroom | $50 | $1,600 | $1,650 |
| 4 Bedroom | $20 | $1,800 | $1,820 |
Affordability — Tallahassee, FL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.9 |
| Median Home Price | $166,000 |
| Median Household Income | $30,800 |