Tallahassee’s real estate market is experiencing notable shifts, with home prices stabilizing and new developments underway. As of March 2026, the median sale price for homes in Tallahassee was $275,000, reflecting no significant change from the previous year. Homes are selling after an average of 62 days on the market, indicating a steady pace in transactions.
Rental Market Insights
The rental sector remains active, with the average rent in Tallahassee at $1,521 as of March 2026. This figure represents a 3.7% increase over the past year, suggesting a consistent demand for rental properties in the area.
New Developments on the Horizon
Several significant projects are contributing to the city’s growth. The TalisTrails community, a 900-acre mixed-use development, has commenced construction on its first 250 homesites. This project emphasizes preservation and connectivity, aiming to enhance the local landscape.
In the student housing sector, Icon Tallahassee has broken ground near Florida State University. This nine-story development will offer 804 beds and is slated for completion in fall 2028. Additionally, the Leo Tallahassee project, a 10-story mixed-use student housing development, is underway adjacent to the university campus, featuring 277 units and extensive amenities.
Affordable Housing Initiatives
Efforts to address affordable housing are also progressing. The Tallahassee-Leon County Community Land Trust has initiated the Wallis Street project, which will provide 17 affordable homes on the city’s southside. This development aims to offer one, two, and three-bedroom homes at accessible price points, starting around $120,000 for a one-bedroom unit.
Overall, Tallahassee’s real estate market is characterized by stability in home prices, a steady rental market, and a range of new developments that promise to enhance the city’s housing options.