Tallahassee Property Market
Understanding Buying Real Estate in Florida
St. Marks National Wildlife Refuge
Florida State Capitol
- Population: 180,000
- Condo: $90,000 – $290,000
- Family home: $120,000 – $3.9m
- Waterfront : N/A
- Investment Potential rating: **
- Nearest international Airport: Tallahassee Regional Airport
Tallahassee is a genteel city lying in the Red Hills bio- region of the panhandle. Its southern roots are evidenced everywhere in its architecture and pace of life. The city lies in one of the most bio-diverse regions of the U.S. and is regarded by the nature conservancy as one of America’s “last great places”. The city is culturally diverse with Greek, Asian and Celtic heritage. Tallahassee is a historically important city with significant roles in Southern history, and the museum and arts districts reflect this, with many cultural events, festivals and historical learning opportunities.
Tallahassee Property Market Summary
Entry point to the market is lower than in some more touristy parts of Florida, with median price hovering around $140,000 and very little inventory at the higher end of the market over a million. Total inventory is at about nine months, which is fairly healthy and not too competitive—indicating there is choice for buyers in the market. Inventory has increased over the last 12 months, indicating properties aren’t moving swiftly off the market, although sales are up on last year.
Property for Sale in Tallahassee
The city is not renowned as a tourism destination, and for that reason, it may not be the best investment if you’re looking to use your property as a holiday home and rent it the rest of the time. However, if you’re looking for a property to rent out for a long term rental income, there are some good deals to be had. With a $120,000 property renting for around $1,300 per month, 16 investment buyers can hope to achieve returns of between seven and eight percent.