Compare Tallahassee, FL mortgage rates and fees from top lenders. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lowest mortgage rates in Tallahassee.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Tallahassee. Plus, shopping lenders is free and there is no obligation.
January 25, 2022
Below we provide helpful information on the real estate market, home prices and housing affordability in Tallahassee. Understand how much you need to earn to afford a home in Tallahassee, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Tallahassee fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in Tallahassee is right for you.
The median home value for Tallahassee, FL (Leon County) is $283,730
Based on current mortgage rates and a 10% down payment, you need to make $46,488 per year to buy the median priced home in Tallahassee
With this income, you could qualify for a $255,357 mortgage, assuming your monthly debt expense is reasonable
Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Tallahassee is $1,077
The median household income for Tallahassee, FL (Leon County) is $59,371
Based on this income, you can afford a home valued at approximately $362,360
The home price you can afford to buy based on household income in Tallahassee is 128% of the median home value which means housing prices are average. Tallahassee (Leon County) ranks 46 out of 67 counties in Florida and 2,821 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Tallahassee, FL is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Tallahassee (Leon County) below.
Conforming loan limits for Tallahassee, FL
FHA loan limits for Tallahassee, FL