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 Q2 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

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

Tallahassee Housing Market Information

With 189,907 people, 74,388 houses or apartments, and a median cost of homes of $169,592, 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 43.02% of the city's housing units. Other types of housing that are prevalent in Tallahassee include large apartment complexes or high rise apartments ( 33.38%), duplexes, homes converted to apartments or other small apartment buildings ( 13.01%), and a few row houses and other attached homes ( 8.18%).

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 36.76% owning and 63.24% 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 ( 21.75%). A lesser amount of the housing stock also hails from between 1940-1969 ( 20.99%). There's also some housing in Tallahassee built before 1939 ( 1.69%).

Vacant housing appears to be an issue in Tallahassee. Fully 12.69% 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

Tallahassee's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Tallahassee during the period has been just -1.83%, which is lower than 80% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Tallahassee's appreciation rate, at 5.50%, has been at or slightly above the national average. In the latest quarter, Tallahassee's appreciation rate has been 6.99%, which annualizes to a rate of 31.03%.

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:
$169,592

Tallahassee, FL HOME PRICES

Value Range
> $1,170,000 1.1
$878,001 - $1,170,000 0.3
$585,001 - $878,000 1.2
$468,001 - $585,000 2.5
$351,001 - $468,000 7.2
$234,001 - $351,000 16.4
$117,001 - $234,000 43.5
$58,001 - $117,000 21.4
$0 - $58,000 6.4

Average for FL
Average for Nation

Value Relative to Nation Value Relative to State
43.3397739914515 59.8290598290598

Number Of Homes And Apartments:
74,388

Tallahassee Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
FL*
Compared To
America*
Latest Quarter:
2017 Q1 - 2017 Q2
Last 12 Months:
2016 Q2 - 2017 Q2
Last 2 Years:
2015 Q2 - 2017 Q2
Last 5 Years:
2012 Q2 - 2017 Q2
Last 10 Years:
2007 Q2 - 2017 Q2
Since 2000:
2000 Q1 - 2017 Q2
47.82% 2.26% 2 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,200 / per month

Homeownership Rate

Homeownership
Owners 36.76
Renters 63.24
Vacant 12.69

Housing Market Details

 

Age of Homes

AGE OF Tallahassee HOMES
2000 or Newer 21.8
1970 - 1999 55.6
1940 - 1969 21.0
1939 or Older 1.7

Types of Homes

TYPE OF Tallahassee HOMES
Single-Family 43.0
Townhomes 8.2
Small Apt. Buildings 13.0
Apt. Complexes 33.4
Mobile Homes 2.3
Other 0.1

Home Size

SIZE OF Tallahassee HOMES
No Bedroom 3.66
1 Bedroom 14.78
2 Bedrooms 28.34
3 Bedrooms 37.04
4 Bedrooms 14.57
5 or more bedrooms 1.62