Weekly Special | January 31, 2022

US Versus Tallahassee Home Prices

Home affordability will become the hottest topic related to the economy and specifically the real estate market. Home prices are soaring, rents are soaring too.

I was curious to see how Tallahassee’s home price growth compared with that of the US overall, and the results were interesting. I have always reported that the Tallahassee housing market is a fair bellwether for the overall US housing market, and the median home price graph above certainly supports this point of view.

Over the past 31 years, the median home price in the US has risen 4.03%, while the median price of homes in Tallahassee over the same period has risen 4.00%. I would say that is pretty darned close to identical.

Tallahassee has always had a bit of a lag in the results when compared to the US. For example, the median US home price peaked in 2006, whereas the median home price in Tallahassee peaked a little later in 2007.

Overall, the median home price in the US fell further than did the median home price in Tallahassee, and I believe that is why we’ve seen the bounce-back from the bottom to be stronger in the US overall (at 6.32%) than in Tallahassee (at 4.77%).

Whether you are in Tallahassee and you are taking in my US housing report, or you are elsewhere taking in my Tallahassee housing report, you should know that the information very likely matches (with prices and values adjusted) to your own housing market.

The original one-page Weekly Special PDF is still available.