Updated 2026 · Based on median market data for Tallahassee, FL
The median monthly rent in Tallahassee, FL is $1,320, translating to $15,840 in annual gross rental income per unit. The rent-to-price ratio is 0.54% — well below the 1% rule, making pure cash flow investing challenging at median prices.
Renters in Tallahassee spend approximately 33% of the local median household income ($48,600) on rent. This exceeds the standard 30% affordability threshold, suggesting rent growth may face resistance — but it also means a large portion of the population finds buying even more out of reach, supporting rental demand.
The vacancy rate in Tallahassee is 5.8%. This is a healthy vacancy rate that indicates balanced supply and demand. You should be able to find quality tenants without extended vacancies, though expect normal turnover periods of 2-4 weeks between tenants. Population growth of 0.9% annually provides stable demand.
Tallahassee's GRM (price divided by annual rent) is 15.5x. A GRM between 12-16x is moderate and typical of balanced markets. Deals can work but you need to keep expenses controlled. For comparison, the national average GRM for investment-grade rentals is approximately 13-15x.
At the median rent of $1,320/mo, a single-family rental in Tallahassee generates approximately $15,840 in gross annual income. After accounting for 5.8% vacancy ($919 lost), property taxes of $2,058, insurance (~$980), and maintenance (~$980), the estimated NOI is $10,903 per year, or $909/mo.