Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$281,169+1.2% YoY · prices are rising
Market right nowBalanced marketMore homes for sale than last year, 14% have cut their price
Income needed to buy, per year$60,952About 0.9× the local median income ($65,107): affordable for a typical household
Days on market60 daysAbout the same pace as a year ago
Next 12 months+0.2%Zillow expects prices to stay about flat
The typical home in Tallahassee, FL is worth $281,169, up 1.2% from a year ago. That is slightly above what local incomes have historically supported: fair value is about $270,254, so the area is 4.0% overvalued. It is a balanced market: homes take about 60 days to sell, listings are up 6% from a year ago, 14% of listings have had a price cut. Zillow expects prices to rise about 0.2% over the next year. A household needs about $60,952 a year to afford the typical home here at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $65,107. Typical rent is $1,474 a month, or $1,691 for a house. In the latest IRS figures, 852 more people moved out than in.
Home value over time
Solid: typical home value · dashed: fair value (household income × the 20-year average price-to-income ratio). Sources: FHFA, Zillow, U.S. Census Bureau.
Prices and affordability
Typical home value
$281,169
Change in 1 year
+1.2%
Overvalued %
+4.0%
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Fair home value
$270,254
Change in 5 years
+18.5%
Zillow forecast, next 12 months
+0.2%
Home value to income
4.3×
Monthly mortgage payment (20% down)
$1,524
Income needed to afford it
$60,952
Property tax rate
0.74%
Rent and investing
Typical rent
$1,474
Typical rent for houses
$1,691
Price-to-rent ratio
15.9×
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HUD Fair Market Rent, 2 bedrooms
$1,410
Gross rental yield
6.29%
Cap rate (estimate)
4.09%
Market activity
Listings vs a year ago
+6.5%
Days on market
60
Listings with a price cut
14.4%
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Homes for sale
1,396
Pending sales per 100 listings
29
Asking price per sq ft
$201
People and jobs
Median household income
$65,107
Population change (1 year)
+0.4%
Unemployment rate
5.5%
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Population
397,442
Income adjusted for cost of living
$69,337
Net moves in (IRS)
−852
Cost of living (US = 100)
93.9
Schools, risk and environment
School rating (1 to 10)
5.6
FEMA hazard risk score (0 to 100)
84.4
Unhealthy air days a year
1
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Flood risk score
82.7
Wildfire risk score
87.6
Walkability (1 to 20)
8.6
Road, rail and air noise
54 dB
Questions people ask
Is Tallahassee, FL overvalued?
Home prices in Tallahassee, FL are slightly above what local incomes have historically supported: fair value is about $270,254, so the area is 4.0% overvalued.
Is Tallahassee, FL a buyer's or seller's market?
Tallahassee, FL is a balanced market: homes take about 60 days to sell, listings are up 6% from a year ago, 14% of listings have had a price cut.
Are home prices going down in Tallahassee, FL?
Home values in Tallahassee, FL are up 1.2% over the last year. Zillow's forecast for the next 12 months is +0.2%.
How much do you need to earn to buy a home in Tallahassee, FL?
A household needs about $60,952 a year to afford the typical home in Tallahassee, FL at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $65,107.