How much is a home worth in ZIP code 32311?

The typical home in 32311 is worth $332,686, based on the Zillow Home Value Index.

Are home values rising in 32311?

Home values in 32311 are up 1.0% over the past year, and up 5.1% a year over five years.

What is the typical rent in 32311?

A typical home in 32311 rents for about $1,705 a month, a gross rental yield of 6.2%.

What is the property tax rate in 32311?

The effective property tax rate in 32311 is 0.9% — roughly $2,980 a year on a typical home.

ZIP code 32311 has a population of 21,905 and a median household income of $81,243.

HousingHandbookReference data

…

U.S. ZIP Code · FL32311

Leon County · Tallahassee, FL

Typical home value

$332,686^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +1.0%
5-year / yr: +5.1%
10-year / yr: +5.3%

Relative price

vs U.S.: +17.1%
vs metro: +27.3%
vs state: -4.1%

Price history

Zillow Home Value Index — monthly, smoothed and seasonally adjusted.

The typical home in 32311 is worth $332,686 — 27.3% above the Tallahassee, FL median. Over the past year, values have risen 1.0%. Homes here rent for a typical $1,705 a month — a 6.2% gross rental yield. The effective property tax rate is 0.9%.

#Rent & investment

Typical asking rent, and the returns it implies at the current home value.

Monthly rent: $1,705^[2]
Gross yield: 6.2%^[2]
Cap rate: 3.7%^[2]

#Property tax

Effective rate — total real estate taxes paid relative to total home value.

Effective tax rate: 0.9%^[3]
Typical annual tax: $2,980^[3]

#Climate risk

FEMA National Risk Index ratings for Leon County. "Not Applicable" means the hazard does not threaten the county.

Overall risk: Relatively Moderate^[4]
Riverine flood: Relatively Moderate
Coastal flood: Very Low
Wildfire: Relatively Moderate
Drought: Very Low
Heat wave: Relatively Moderate
Hurricane: Relatively High
Tornado: Relatively High
Earthquake: Relatively Low
Winter weather: Relatively Low

#Who lives here

Population: 21,905^[3]
Median household income: $81,243^[3]

#Migration

Household moves in and out of Leon County over a year, from IRS tax-return data.

Net migration: -1,336^[5]
Moved in: 8,462
Moved out: 9,798

Schools

Open public schools in this ZIP, from the NCES Common Core of Data.

Public schools: 9
Elementary: 3
Middle: 0
High: 1

FLORIDA STATE UNIVERSITY SCHOOL
Other · Grades K–12 · FSU LAB SCH
1,871 students
LINCOLN HIGH SCHOOL
High · Grades 9–12 · LEON
1,860 students
J MICHAEL CONLEY ELEMENTARY SCHOOL AT SOUTHWOOD
Elementary · Grades PK–5 · LEON
708 students
APALACHEE ELEMENTARY SCHOOL
Elementary · Grades PK–5 · LEON
477 students
TALLAHASSEE CLASSICAL SCHOOL
Other · Grades PK–12 · LEON
424 students

Run the numbers

Interactive calculators pre-filled with this ZIP's typical home value, rent, and property-tax rate. Edit any field to recompute.

Home value$Monthly rent$

Gross yield6.2%

Net yield (after ~40% expenses)3.7%

Annual rent$20,464

Gross and net yield are estimates based on the inputs and the selected expense ratio. Actual income and expenses will vary by property and market. Not investment advice.

Home price$Down payment%Interest rate%Loan termyears

Monthly payment$1,682

Loan principal$266,148

Down payment$66,537

Total interest paid$339,458

Estimated monthly payments include principal and interest only. Actual costs will include property tax, insurance, possibly PMI, and HOA fees not modeled here. Loan terms shown are estimates; consult a licensed lender for current rates and qualification.

Home price$Monthly rent$Down payment%Mortgage rate%Property tax rate% / yrMaintenance% / yrRule of thumb: 1% of home value per year.

Own : rent ratio1.30

Monthly cost to own$2,209

Monthly rent$1,705

Renting is meaningfully cheaper month-to-month.

This calculator projects multi-year scenarios based on assumptions about appreciation, rent growth, and investment returns — none of which are guaranteed. Actual outcomes depend on variables this tool cannot know. Not financial or real estate advice.

#Metro ranking

Where this ZIP sits among others in its metro area.

Appreciation: 55th percentile^[1]
Rental yield: 33rd percentile^[2]
Property tax: 100th percentile^[3]

Frequently asked

How much is a home worth in ZIP code 32311?: The typical home in 32311 is worth $332,686, based on the Zillow Home Value Index.
Are home values rising in 32311?: Home values in 32311 are up 1.0% over the past year, and up 5.1% a year over five years.
What is the typical rent in 32311?: A typical home in 32311 rents for about $1,705 a month, a gross rental yield of 6.2%.
What is the property tax rate in 32311?: The effective property tax rate in 32311 is 0.9% — roughly $2,980 a year on a typical home.
Who lives in 32311?: ZIP code 32311 has a population of 21,905 and a median household income of $81,243.

#Comparable ZIPs

Same metro, nearest typical home value. Each card shows the comparable ZIP's headline numbers so you can scan at a glance.

32308 vs 32311 →
Tallahassee, FL
Typical home
$338,126
Gross yield
5.7%
32344 vs 32311 →
Monticello, FL
Typical home
$304,888
Gross yield
—
32327
Crawfordville CDP, FL
Typical home
$289,196
Gross yield
7.1%
32358
Sopchoppy, FL
Typical home
$274,395
Gross yield
—
32333
Havana, FL
Typical home
$268,702
Gross yield
—
32309
Tallahassee, FL
Typical home
$397,865
Gross yield
4.3%

Want similar ZIPs from outside this metro? Browse nationally similar ZIPs →

Compare ZIPs

Pit ZIP 32311 against any other ZIP — full side-by-side table.

Compare 32311 →

#Jump to section

U.S. ZIP Code · FL32311

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