32317, Tallahassee, FL

The 32317 zip code of Tallahassee, FL includes a population of around 197,000 people. The median home value in this zip code is $183,500 and the median home equity is $111,500. This means that the majority of homes in this zip code are valued at more than their outstanding mortgage debt. Additionally, the average home price appreciation rate in this zip code over the past five years has been 8%. This indicates that there is strong demand for homes in this area and that prices are likely to continue to rise.

One reason for the high demand for homes in the 32317 zip code is likely due to its location. Tallahassee is located in north-central Florida and is close to major cities such as Jacksonville, Orlando, and Tampa. These cities have a large population and are known for their job opportunities and quality of life. Additionally, Tallahassee has a number of universities and colleges which contribute to its high level of economic activity.

Despite these positive factors, there are some risks associated with buying a home in the 32317 zip code. For example, there may be a limited supply of homes available due to rising prices or increased demand from buyers who want to invest in property rather than live in it permanently. Additionally, interest rates may increase over time which could make it more difficult for buyers to afford their homes or pay off their mortgages on time.