Tallahassee FL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Tallahassee, FL Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Tallahassee Housing Market Information

With 193,551 people, 75,508 houses or apartments, and a median cost of homes of $162,474, Tallahassee real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Tallahassee, accounting for 42.33% of the city's housing units. Other types of housing that are prevalent in Tallahassee include large apartment complexes or high rise apartments ( 34.29%), duplexes, homes converted to apartments or other small apartment buildings ( 12.49%), and a few row houses and other attached homes ( 8.64%).

The most prevalent building size and type in Tallahassee are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 37.06% owning and 62.94% renting.

There is a lot of housing in Tallahassee built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Tallahassee built between 2000 and later ( 21.92%). A lesser amount of the housing stock also hails from between 1940-1969 ( 20.27%). There's also some housing in Tallahassee built before 1939 ( 1.49%).

Vacant housing appears to be an issue in Tallahassee. Fully 13.77% of the housing stock is classified as vacant. Left unchecked, vacant Tallahassee homes and apartments can be a drag on the real estate market, holding Tallahassee real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Tallahassee Home Appreciation Rates

Real estate appreciation rates in Tallahassee's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 1.71% during the period.

Over the last year, Tallahassee appreciation rates have trailed the rest of the nation. In the last twelve months, Tallahassee's appreciation rate has been 2.02%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Tallahassee were at 2.63%, which equates to an annual appreciation rate of 10.95%.

Importantly, NeighborhoodScout’s exclusive research found that Tallahassee's housing market shows one of the <a href="/blog/highest-appreciating-cities">top real estate appreciation rates in the U.S.A.</a> in the latest quarter, which may signal the city’s near-future real estate investment strength.

Relative to Florida, our data show that Tallahassee's latest annual appreciation rate is lower than 80% of the other cities and towns in Florida.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Tallahassee differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Tallahassee - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Tallahassee real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$162,474

Tallahassee, FL HOME PRICES

Value Range
> $1,219,000 0.5
$914,001 - $1,219,000 0.4
$609,001 - $914,000 1.8
$487,001 - $609,000 3.2
$366,001 - $487,000 7.8
$244,001 - $366,000 17.9
$122,001 - $244,000 40.3
$61,001 - $122,000 20.3
$0 - $61,000 7.8

Low for FL
Average for Nation

Value Relative to Nation Value Relative to State
54.9956204379562 71.9148936170213

Number Of Homes And Apartments:
75,508

Tallahassee Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
FL*
Compared To
America*
Latest Quarter:
2019 Q4 - 2020 Q1
Last 12 Months:
2019 Q1 - 2020 Q1
Last 2 Years:
2018 Q1 - 2020 Q1
Last 5 Years:
2015 Q1 - 2020 Q1
Last 10 Years:
2010 Q1 - 2020 Q1
Since 2000:
2000 Q1 - 2020 Q1
72.80% 2.74%
1
6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,289 / per month

Homeownership Rate

Homeownership
Owners 37.06
Renters 62.94
Vacant 13.77

Housing Market Details

 

Age of Homes

AGE OF Tallahassee HOMES
2000 or Newer 21.9
1970 - 1999 56.3
1940 - 1969 20.3
1939 or Older 1.5

Types of Homes

TYPE OF Tallahassee HOMES
Single-Family 42.3
Townhomes 8.6
Small Apt. Buildings 12.5
Apt. Complexes 34.3
Mobile Homes 2.3
Other 0.0

Home Size

SIZE OF Tallahassee HOMES
No Bedroom 2.71
1 Bedroom 14.68
2 Bedrooms 27.83
3 Bedrooms 37.40
4 Bedrooms 15.75
5 or more bedrooms 1.63