Mortgage payment estimates, closing cost breakdowns, and homebuying data for Tallahassee, Florida.
Median Home Price
$275K
Population
196K
Avg Monthly Rent
$1,280
Property Tax Rate
0.86% *
* Property tax shown is the Florida state average effective rate. Actual rates vary by county, city, and school district — check with your local assessor for exact rates in Tallahassee.
Tallahassee vs Florida Median
The median home price in Tallahassee is $275,000, which is 30% below the Florida state median of $395,000.
Mortgage Calculator — Tallahassee, FL
Pre-filled with Tallahassee median home price and Florida tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $275K home using Florida's 0.86% tax rate and $4,200/yr insurance.
5% Down
$2,351/mo
Down: $13,750
Loan: $261K
P&I: $1,651
Tax: $197
Insurance: $350
PMI: $152
10% Down
$2,256/mo
Down: $27,500
Loan: $248K
P&I: $1,564
Tax: $197
Insurance: $350
PMI: $144
20% Down (No PMI)
$1,938/mo
Down: $55,000
Loan: $220K
P&I: $1,391
Tax: $197
Insurance: $350
Income needed (28% rule): $83K/year with 20% down, $97K/year with 10% down.
Rent vs Buy in Tallahassee
Rent
$1,280/mo
vs
Buy (10% down)
$2,256/mo
Price-to-rent ratio: 17.9 — A ratio between 15-20 means the rent vs buy decision in Tallahassee depends heavily on your timeline. If you plan to stay 5+ years, buying likely wins. For shorter stays, renting preserves flexibility.
The median home price in Tallahassee is $275,000, 30% below the Florida state median of $395,000. With a population of 196,169, Tallahassee is a mid-size city where home prices tend to be more accessible than in many parts of Florida.
Property taxes in Florida average 0.86% annually. This moderate property tax rate means a $275,000 home in Tallahassee would carry roughly $197/month in property taxes. Homeowners insurance in Florida runs approximately $4,200 per year. Insurance costs are notably high — factor this into your monthly budget.
Average rent in Tallahassee is $1,280/month. The price-to-rent ratio in Tallahassee is moderate, meaning the buy-vs-rent decision depends heavily on how long you plan to stay.
Tallahassee presents moderate affordability. The $275K median puts homeownership within reach for median-income households, though down payment savings and closing costs require planning.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Tallahassee.