Tallahassee, FL—32312
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Tallahassee, FL
As of Nov '25, the median home price in Tallahassee, FL is $444,000, with a year-over-year change of 0.2%. This indicates that home prices in Tallahassee, FL are flat. According to Zillow, the 1-year price projection is 0.8%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $444,000 | 0.2% |
| Single Family | $452,000 | 0.2% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $215,000 | -2.3% |
3 Bed | $361,000 | 0.3% |
4 Bed | $564,000 | 0.2% |
| 5 Bed | $855,806 | 1.0% |
% of Housing Stock
Rental Trends — Tallahassee, FL
As of July '25, Rentcast reports the average rent in Tallahassee, FL is $2,160, with a year-over-year rent change of -8.1%. Per bedroom, the median rent as of July '25 in Tallahassee, FL is 1-bedrooms: $1,480, 2-bedrooms: $1,820, 3-bedrooms: $2,250, 4-bedrooms: $2,860. The most common rental property sizes in Tallahassee, FL are 3-bedroom and 2-bedroom, accounting for 49.7% and 29.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,100 | $2,160 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,450 | $1,480 |
| 2 Bed Rent | $1,800 | $1,820 |
| 3 Bed Rent | $2,350 | $2,250 |
| 4 Bed Rent | $2,850 | $2,860 |
% of Rental Stock
Property Listings — Tallahassee, FL
As of Nov '25, Realtor.com reports that the median days on market for a home in Tallahassee, FL is 52. This is a decrease of -6.0% 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 18.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $450,000 | 3.0% |
Listing Count | 199 | 29.0% |
| Listings as % of Homes | 0.8% | 29.0% |
Days on Market | 52 | -6.0% |
Demographics — Tallahassee, FL
As of the latest ACS Survey released in 2023, Tallahassee, FL has a population of 32,000, which has decreased by -2.7% over the past 5 years. Tallahassee, FL is a moderately popular place for families, as children make up 24.6% of the population. The area has a highly educated workforce, with 63.7% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 17.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 32,000 | -2.7% |
% Under 18 | 24.6% | 4.2% |
% Seniors | 22.2% | 31.4% |
% WFH | 17.4% | 141.7% |
% w/ College Degree | 63.7% | 2.2% |
As of the latest ACS Survey released in 2023, Tallahassee, FL is a predominantly white area, with 75.3% of the population identifying as white. The white population has shrunk by 0.5% in the last 5 years. The second most common race or ethnicity in Tallahassee, FL is black, making up 10.8% of the population. Foreign-born residents account for 9.0% of the population in Tallahassee, FL, and this percentage has increased by 9.8% 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 | 75.3% | -0.5% |
% Black | 10.8% | 0.9% |
% Hispanic | 5.5% | -6.8% |
% Asian | 5.4% | -11.5% |
% Foreign Born | 9.0% | 9.8% |
Mortgage and Risk — Tallahassee, FL
According to HUD data as of 2023, there were 503 mortgage originations in Tallahassee, FL, of which 83.0% of loans were conventional mortgages. The average loan-to-value was 60.0%, with 23.0% above 90% LTV (very high). This implies large mortgage risk in Tallahassee, FL. Investor activity is low, as 3.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 503 |
% Conventional Loans | 83.0% |
% Government Loans | 17.0% |
% Investor Loans | 3.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 12.0% |
Rentals and Section 8 — Tallahassee, FL
As of 2024, the percent of homes in Tallahassee, FL under the Section 8 program is 0.9%. 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 units appear to be good home sizes to consider for Section 8 housing in Tallahassee, FL, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 106 |
Total Units Section 8 | 12 |
% Rentals under Section 8 | 0.9% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $60 | $1,450 | $1,510 |
| 2 Bedroom | -$110 | $1,800 | $1,690 |
| 3 Bedroom | -$220 | $2,350 | $2,130 |
| 4 Bedroom | -$510 | $2,850 | $2,340 |
Affordability — Tallahassee, FL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.5 |
| Median Home Price | $444,000 |
| Median Household Income | $120,000 |