Tallahassee, Florida Housing Market Prices
Tallahassee Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 40% below the Florida median$186,712
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Median rent 24% below the Florida median$1,271
Housing Market Overview
| Metric | Tallahassee | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $186,712 | $311,338 | $248,835 |
| Price Trend (Annual %) | 1.9% | 11.2% | 7.5% |
| Median Gross Rent | $1,271 | $1,668 | $1,407 |
| Rent Trend (Annual %) | 4.2% | 6.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Tallahassee is about 40% lower than in Florida. Rent is about 24% lower than the Florida average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Tallahassee, up about 1.9% and 4.2% a year respectively. Rent is changing faster.
Median rent in Tallahassee rose about 40.1% between 2015 and 2024, from $907 to $1,271. Over the same span, rent in Florida rose about 66.5%.
Affordability
On average, housing unit costs 3.4 yearly household incomes in Tallahassee.
Buying the median-priced home in Tallahassee costs roughly 12.2 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Tallahassee. The price-to-rent ratio in Florida is about 15.6.
| Metric | Tallahassee | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $186,712 | $311,338 | $248,835 |
| Median Household Income | $55,406 | $74,580 | $80,455 |
| Price-to-Income Ratio | 3.4 | 4.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Tallahassee rose about 1.4%, while median household income rose about 52.6% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Tallahassee | Florida Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 35.0% | 57.7% | 58.5% |
| Rental Rate | 52.2% | 27.7% | 31.2% |
| Vacancy Rate | 12.8% | 14.6% | 10.2% |
| Median Tenure (years) | 10.0 | 13.0 | 15.0 |
| Median Year Moved In | 2016 | 2013 | 2011 |
Tallahassee has a homeownership rate of 35.0%, lower than the Florida average of 57.7%. Its housing vacancy rate is 12.8%, compared with 14.6% in Florida.
Housing Stock
| Metric | Tallahassee | Florida Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.16 people | 2.50 people | 2.53 people |
| Median Structure Built Year | 1987 | 1988 | 1978 |
| Median Number of Rooms | 4.8 | 5.2 | 5.5 |
The typical housing unit in Tallahassee was built around 1987. On average, 2.2 people live in a home with about 4.8 rooms, staying for about 10.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Tallahassee, Florida.
What is the median home price in Tallahassee, Florida?
The median home price in Tallahassee, Florida is $186,712, lower than the Florida average of $311,338.
What is the average home price in Tallahassee, Florida?
The typical home price in Tallahassee, Florida, reported as the median sale price, is $186,712. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Tallahassee, Florida?
The median gross rent in Tallahassee, Florida is $1,271 per month, lower than the Florida average of $1,668.
What was the median gross rent in Tallahassee in 2020?
In 2020, the median gross rent in Tallahassee, Florida was $1,006 per month.
What is the price-to-rent ratio in Tallahassee, Florida?
The price-to-rent ratio in Tallahassee, Florida is about 12.2, meaning it would take roughly 12.2 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Tallahassee.
Are home prices or rent rising faster in Tallahassee, Florida?
Both home prices and rent are rising in Tallahassee, up about 1.9% and 4.2% a year respectively. Rent is changing faster.
What is the homeownership rate in Tallahassee, Florida?
35.0% of households in Tallahassee, Florida own their home, lower than the Florida average of 57.7%.
What is the vacancy rate in Tallahassee, Florida?
The housing vacancy rate in Tallahassee, Florida is 12.8%, lower than the Florida average of 14.6%.
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