US5.com
  1. Home
  2. States
  3. Florida
  4. ZIP 32304
  5. Housing & Real Estate
Tallahassee city, FL

ZIP 32304 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Low Income AreaLarge CommunityLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 32304

Median Home Value
$147,000
Median Rent
$914
Affordability Snapshot
$40,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$944/mo PITI).

36%
Rent-to-Income Ratio

Above the 30% affordability threshold — housing cost-burdened area.

4.8x
Home Price-to-Income Ratio

Within the typical 3-5x range for home affordability.

13.4 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 32304 in Tallahassee city, FL, a household would need roughly $40,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $944. That is about 30% above the local median household income ($30,823), so the median earner would likely stretch or need a larger down payment. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Vacancy rate 19% — check local market conditions.

Heating Fuel
Housing Metrics
Owner Occupied
13.0%-80% vs US avg
x
Vacancy Rate
18.6%+80% vs US avg
x
Broadband Access
85.3%-2% vs US avg
x
4+ Bedrooms
1.0%-93% vs US avg
x
Built Pre-1939
2.0%-84% vs US avg
x
Built Post-2014
0.1%-99% vs US avg
x
Rent Burden >30%
44.8%-10% vs US avg
x
Mortgage-Free
51.8%+36% vs US avg
x
$147,000
Home Value
$914
Rent
1987
Year Built
2020
Moved In

Residents have lived here since ~2020 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached18.5%
  • 1-unit attached7.7%
  • 2-9 units19.4%
  • 10+ units48.9%
  • Mobile home & other5.5%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$147,000
Median rent$914
Owner-occupied13.0%
Vacant18.6%
Price-to-income4.8x
Est. income to buy$40,000