Tallahassee, FL—32317
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 $399,000, with a year-over-year change of -1.2%. This indicates that home prices in Tallahassee, FL are decreasing. According to Zillow, the 1-year price projection is 0.3%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $399,000 | -1.2% |
| Single Family | $401,000 | -1.0% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | $363,000 | -1.9% |
4 Bed | $473,000 | -0.6% |
| 5 Bed | $654,000 | 0.8% |
% of Housing Stock
Rental Trends — Tallahassee, FL
As of July '25, Rentcast reports the average rent in Tallahassee, FL is $2,500, with a year-over-year rent change of 0.8%. Per bedroom, the median rent as of July '25 in Tallahassee, FL is 2-bedrooms: $1,530, 3-bedrooms: $2,460, 4-bedrooms: $2,890. The most common rental property sizes in Tallahassee, FL are 3-bedroom and 2-bedroom, accounting for 53.3% and 39.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,400 | $2,500 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $1,400 | $1,530 |
| 3 Bed Rent | $2,300 | $2,460 |
| 4 Bed Rent | $2,900 | $2,890 |
% 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 78. 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 23.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $452,000 | -3.0% |
Listing Count | 77 | 0.0% |
| Listings as % of Homes | 1.0% | 0.0% |
Days on Market | 78 | 2.0% |
Demographics — Tallahassee, FL
As of the latest ACS Survey released in 2023, Tallahassee, FL has a population of 15,000, which has increased by 2.6% over the past 5 years. Tallahassee, FL is a moderately popular place for families, as children make up 21.1% of the population. The area has a highly educated workforce, with 56.3% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 19.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 15,000 | 2.6% |
% Under 18 | 21.1% | -11.7% |
% Seniors | 21.8% | 37.1% |
% WFH | 19.3% | 338.6% |
% w/ College Degree | 56.3% | 0.9% |
As of the latest ACS Survey released in 2023, Tallahassee, FL is a predominantly white area, with 66.8% of the population identifying as white. The white population has shrunk by 9.9% in the last 5 years. The second most common race or ethnicity in Tallahassee, FL is black, making up 15.5% of the population. Foreign-born residents account for 7.8% of the population in Tallahassee, FL, and this percentage has increased by 5.4% 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 | 66.8% | -9.9% |
% Black | 15.5% | 39.6% |
% Hispanic | 8.0% | 37.9% |
% Asian | 6.5% | 12.1% |
% Foreign Born | 7.8% | 5.4% |
Mortgage and Risk — Tallahassee, FL
According to HUD data as of 2023, there were 175 mortgage originations in Tallahassee, FL, of which 81.0% of loans were conventional mortgages. The average loan-to-value was 64.0%, with 30.0% above 90% LTV (very high). This implies large mortgage risk in Tallahassee, FL. Investor activity is low, as 1.0% of loans were by investors. 17.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 175 |
% Conventional Loans | 81.0% |
% Government Loans | 19.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 17.0% |
Loan Activity
Rentals and Section 8 — Tallahassee, FL
Tallahassee, FL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 11 |
Total Units Section 8 | 11 |
% Rentals under Section 8 | 1.9% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,420 |
| 2 Bedroom | $190 | $1,400 | $1,590 |
| 3 Bedroom | -$300 | $2,300 | $2,000 |
| 4 Bedroom | -$690 | $2,900 | $2,210 |
Affordability — Tallahassee, FL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.1 |
| Median Home Price | $399,000 |
| Median Household Income | $122,000 |