32311, Tallahassee, FL

The 32311 zip code of Tallahassee, FL includes a population of over 129,000 people. The median home value in this zip code is $183,500 and the median home equity is $111,500. This means that approximately 50% of homes in this zip code are worth more than their original purchase price and 50% are worth less.

Home prices have been on the rise in the 32311 zip code for the past few years. In January of 2018, the median home value was up 2.5% from January 2017 and up 9.5% from January 2016. This indicates that there is strong demand for homes in this area and that buyers are able to find good deals on homes.

One reason that home prices have been increasing in the 32311 zip code is because there has been an increase in demand for housing overall. The population of Tallahassee has been growing rapidly over the past few years, which has led to an increase in job opportunities and income levels. As a result, more people are able to buy homes than ever before and afford to pay higher prices for them.

Another factor contributing to increased home values in the 32311 zip code is low interest rates. Since 2007, mortgage rates have decreased significantly – which has made it easier for people to borrow money to buy a home outright or refinance their existing mortgage into a higher rate loan. This has helped to drive up prices by making it more affordable for buyers to purchase a house outright rather than taking out a loan with a lower interest rate that will eventually need to be paid back with interest (i.e., mortgages).