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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 194,500 people, 75,508 houses or apartments, and a median cost of homes of $167,240, 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.
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 2.25% during the period.
Appreciation rates are so strong in Tallahassee that despite a nationwide downturn in the housing market, Tallahassee real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Tallahassee appreciation rates continue to be some of the highest in America, at 6.48%, which is higher than appreciation rates in 91.23% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Tallahassee. Tallahassee appreciation rates in the latest quarter were at 3.94%, which equates to an annual appreciation rate of 16.74%.
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 higher than 70% 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.
|$940,001 - $1,253,000||0.4|
|$627,001 - $940,000||1.8|
|$501,001 - $627,000||3.2|
|$376,001 - $501,000||7.8|
|$251,001 - $376,000||17.9|
|$125,001 - $251,000||40.3|
|$63,001 - $125,000||20.3|
|$0 - $63,000||7.8|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2020 Q2 - 2020 Q3
Last 12 Months:
2019 Q3 - 2020 Q3
Last 2 Years:
2018 Q3 - 2020 Q3
Last 5 Years:
2015 Q3 - 2020 Q3
Last 10 Years:
2010 Q3 - 2020 Q3
2000 Q1 - 2020 Q3
|* 10 is highest|
|AGE OF Tallahassee HOMES|
|2000 or Newer||21.9|
|1970 - 1999||56.3|
|1940 - 1969||20.3|
|1939 or Older||1.5|
|TYPE OF Tallahassee HOMES|
|Small Apt. Buildings||12.5|
|SIZE OF Tallahassee HOMES|
|5 or more bedrooms||1.63|