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Tallahassee real estate market overview
- Average Monthly Rent: $1,599
- Home Price/Value Percentage Change: 8.20%
- Median Home Value: $266,609
- Best Time To Sell a Home: November
- Affordability Index: Moderate
- Days To Sell a House: 81
- Job Market: Fair
- Public School Ranking: 18
Location and weather
Tallahassee is a refined city located in the Leon county region of northern Florida. This city is the capital of the state, and has a layout amongst rolling hills and Spanish moss lined streets. Along with a 10-block historic district, Tallahassee is home to diverse parks, bars, restaurants, and acclaimed universities.
Considering this city's northern location, the weather here is slightly different than most Floridian cities. Summers sport the warm weather as expected of Florida, but winters are cold and long, dropping to lows in the 30's. There's almost 60 inches of rain per year here as well.
Population, job market and cost of living
Tallahassee has a population of 200,606, with a growth rate of 0.74% annually.
The job market has decreased by -5.36% over the last year. In ten years, job growth is predicted to be 37.92%. Tallahassee has been recognized for having a strong economy and expanding job market. Inc Magazine named Tallahassee one of the best small metro areas to start and grow a business, while Forbes Magazine named it one of the best places for businesses and careers. Tallahassee is home to Florida State University, Florida A&M University, and Florida's legislature, which explains the large education and government sector here. This city is also a prominent center for agriculture and trade. It is one of the fastest growing high-tech and manufacturing areas in Florida as well.
Tallahassee is an affordable Floridian city, and has very low housing costs for students, young professionals, and families alike.
Tallahassee real estate market details
- Midtown/East Tallahassee
- Levy Park
- Southwood
- Northeast Tallahassee
- Betton Hill
The average monthly rent in Tallahassee is $1,599 for an average apartment size of 1,070 sq. feet.
There has been a 8.2% increase in Tallahassee's median home value over the last year. As of 2023, the median home value is $266,609.
On average, homes in Tallahassee sell after 81 days on the market.
In Tallahassee, selling during the month of November can provide homeowners with the most profit. Selling during the month of April can provide homeowners with the fastest sale.
The affordability index in Tallahassee is 91. This number indicates moderate affordability in this city.
The top ranked public schools are Hawks Rise Elementary School, Roberts Elementary School, Killearn Lakes Elementary School, Gilchrist Elementary School, and Florida State University. This information is based on the school's combined math and reading proficiency data in testing.