Tallahassee’s housing market has experienced notable changes in recent times, reflecting broader economic trends and local developments. Understanding these shifts is crucial for prospective homebuyers, renters, and investors.
Current Market Trends
As of mid-2026, the average home value in Tallahassee stands at approximately $298,194, marking a 1.1% increase over the past year. Homes typically go pending in around 17 days, indicating a relatively brisk market. The median sale price is $293,333, with a median list price of $311,650. Notably, 21.2% of sales have closed above the list price, suggesting competitive bidding in certain segments.
Rental Landscape
The rental market in Tallahassee remains active, with the average rent at $1,507 per month. This figure is below the national average of $1,965, offering more affordable options for residents. The month-over-month change shows a slight decrease of 0.4%, while the year-over-year change reflects a 1.5% increase, indicating relative stability in rental prices.
New Developments
Several significant developments are underway, contributing to the city’s growth. One notable project is TalisTrails, a master-planned, mixed-use community spanning approximately 900 acres. Located off Mahan Drive, this development emphasizes preservation and connectivity, with construction already in progress on the main entry, commercial parcels, and the first 250 homesites.
Another major project is Icon Tallahassee, a nine-story student housing development near Florida State University. This $100 million project will offer 804 beds in various apartment layouts, along with amenities such as a club room, study lounges, and a rooftop pool deck. Completion is slated for fall 2028.
Conclusion
Tallahassee’s housing market is characterized by steady growth and active development. For those considering entering the market, staying informed about these trends and upcoming projects is essential to making well-informed decisions.