Florida · 141st largest metro area

Buying a home in Tallahassee, Florida

In Tallahassee, the median value of owner-occupied homes is $294,400, Leon County's effective property tax rate is 0.79%, a purchase mortgage carried a median $6,719 in total loan costs in 2025, and median gross rent is $1,293 a month.

Data as of : Census ACS 2020-2024, Census Vintage 2024, HMDA 2025, HUD FY 2027. Sources

Tallahassee home costs, fact by fact

About Tallahassee

In Leon County, the effective property tax rate (median tax as a share of home value) in Leon County is 0.79%, and HUD's Fair Market Rent for a two-bedroom in Leon County is $1,424. Tallahassee is a city in the Tallahassee, FL metro area (ranked 141st among U.S. metro areas), where 40.6% of homes are owner-occupied and median gross rent is $1,293 per month.

Reading the Tallahassee figures

Tallahassee's $294,400 is below Florida's $396,700 and level with Jacksonville's $293,700, with Spring Hill at $288,500 close behind. Miami, at $518,100, is far higher. The renting side is where Tallahassee departs from those peers. Only 40.6% of households own, against 80.3% in Spring Hill, while Lakeland reaches 56.4%; rent of $1,293 is lower than Lakeland's $1,395 and Jacksonville's $1,465.

The HUD benchmark in Leon County is $1,424, above the city's median rent, and its larger-unit figure reaches $1,742. The county's median home is valued at $301,800, a bit above the city's estimate, and owners pay a median of $2,397 in property tax under a 0.79% effective rate.

Loan costs stay modest in Leon County: 2,026 loans in 2025 centered on $6,719, and the central range of borrowers paid from $4,945 to $9,980. With low rent and low borrowing costs, the question for a buyer is mostly whether the price and the 0.79% tax rate beat simply renting at $1,293 a month. In a city of 205,089 people, in a metro area ranked 141st, that comparison is worth running with a lender's actual quote.

Calculate for Florida

If you buy

Florida state transfer tax

Documentary stamp tax on deeds: $0.70 per $100 of consideration, or fraction of $100 (Miami-Dade: $0.60 per $100). Change the price: the amount is recalculated instantly.

Price$396,700
State transfer tax$2,776.90
Share of the price0.7% of the price
Who paysSet by the purchase contract

Default price: the Florida median value of owner-occupied homes, $396,700 (Census ACS 2025). Rule: Divide the consideration by $100, round up to the next whole unit, multiply by $0.70. Consideration includes any mortgage balance on the property, whether or not assumed. Miami-Dade uses $0.60. Who pays: The law makes all parties liable regardless of which agrees to pay; the purchase contract allocates the cost. Not included: county and city transfer taxes, the tax on the mortgage, recording fees, title insurance and lender charges. Florida transfer tax guide · all 50 states.

If you sell

Capital gain and the federal tax on it

Same federal rule in every state: Section 121 of the Internal Revenue Code excludes up to $250,000 of gain on a main home ($500,000 for a married couple filing jointly).

Capital gain$350,000
Section 121 exclusion$250,000 (limit $250,000)
Taxable gain$100,000
Type of gainLong-term (owned over 1 year), 15% chosen
Federal tax on the gain$15,000

Section 121 excludes $250,000; the rest is taxable.

Gain = sale price minus your adjusted basis (purchase price, buying costs and improvements); selling expenses reduce it (IRS Publication 523). Long-term rates for sales in 2026, by taxable income including the gain (IRS Rev. Proc. 2025-32, section 4.03): 0% up to $49,450 single or $98,900 married filing jointly, 15% up to $545,500 single or $613,700 jointly, 20% above. Not included: Florida state income tax on the gain (not computed), the net investment income tax, depreciation recapture on a rental or home office, and the reduced exclusion for an early sale. Agent commissions are negotiated and never set by law. Capital gains on a home sale.

Questions about buying a home in Tallahassee

How much is property tax in Tallahassee?

Homeowners in Leon County pay a median $2,397 a year in property tax, 0.79% of the county median home value of $301,800 (Census ACS 2020-2024). Your bill depends on your assessed value and local rates.

What are closing costs on a mortgage in Tallahassee?

Home-purchase mortgages in Leon County carried median total loan costs of $6,719 in 2025; half of the 2,026 loans fell between $4,945 and $9,980 (HMDA). Total loan costs are the lender and settlement-service charges of the Closing Disclosure; transfer taxes and prepaid items come on top.

Is there a transfer tax when you buy a home in Tallahassee?

Florida's transfer tax is the documentary stamp tax on deeds, 70 cents per $100 of price in every county except Miami-Dade, where it is 60 cents per $100. A mortgage adds 35 cents per $100 and a 0.2% intangible tax.

Is it cheaper to rent or buy in Tallahassee?

It depends on your mortgage rate, down payment and how long you stay. As a benchmark, the median value of owner-occupied homes in Tallahassee ($294,400) equals 19 years of the median gross rent ($1,293 a month), both from Census ACS 2020-2024.

What natural hazards affect home insurance in Tallahassee?

Across Florida, the main hazards for home insurance are hurricane wind, flood and storm surge, and the insurer of last resort is Citizens Property Insurance Corporation. A Florida homeowners policy must offer hurricane deductibles of 2%, 5% and 10% of the dwelling limit (s. 627.701), and Citizens requires flood coverage on all its homeowners policies with wind coverage by January 1, 2027.

Run your own numbers: rent vs buy calculator · closing costs calculator.

Florida rules that apply in Tallahassee

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Sources

Florida · All states · Federal guides