Tallahassee’s housing market is experiencing notable shifts, with home prices and rental rates reflecting broader economic trends and local developments.
Current Market Trends
As of April 2026, the median sale price for homes in Tallahassee stands at approximately $293,000, marking an 8.6% increase from the previous year. Homes are typically on the market for about 64 days before being sold. This data suggests a stable market with moderate growth.
Rental Market Insights
The average rent in Tallahassee is around $1,521 per month, which is below the national average of $1,910. This affordability continues to attract renters to the area.
New Developments
Several new housing projects are underway, aiming to meet the city’s growing demand. Notably, the TalisTrails community is under construction on a 900-acre site off Mahan Drive, with plans for 250 homes in its initial phase. Additionally, the Leo Tallahassee Student Housing development, a 10-story mixed-use project adjacent to Florida State University, is set to offer 782 beds and various amenities upon completion.
Affordable Housing Initiatives
Efforts to increase affordable housing are also progressing. The Tallahassee-Leon County Community Land Trust has broken ground on the Wallis Street project, which will provide 17 affordable homes on the city’s southside. These homes are expected to be priced starting at approximately $120,000 for one-bedroom units.
Overall, Tallahassee’s housing market is characterized by steady growth, a range of new developments, and initiatives aimed at enhancing affordability for residents.