College Town home values
College Town at a glance
- Zillow’s Home Value Index puts the typical home at $168,200 (Aug 2026), +0.2% over the past 12 months and +31% over five years.
- The Census median home value is $147,000 — 39% below Tallahassee overall and 57% below the U.S. median.
- Median household income is $30,823, so homes cost 4.8× local income.
- Median rent is $1,132/month (a 9.2% gross rental yield).
- Its ZIP ranks 8th of 9 Tallahassee ZIP codes by home value.
- These figures are for ZIP 32304, which College Town shares with San Luis.
College Town home value trend
Over the 12 months to Aug 2026, typical home values in College Town were essentially flat, to about $168,200. That is 1.1 percentage points slower than Tallahassee (+1.2%). Over five years the typical home gained $40,000 in value (+31%).
Year-by-year values
| Month | Typical value | Change vs year before |
|---|---|---|
| Aug 2026 | $168,200 | +0.2% |
| Aug 2025 | $167,900 | −1.3% |
| Aug 2024 | $170,100 | +6.3% |
| Aug 2023 | $160,100 | +6.5% |
| Aug 2022 | $150,200 | +17.2% |
| Aug 2021 | $128,200 | +16.1% |
| Aug 2020 | $110,400 | +7.5% |
| Aug 2019 | $102,700 | +5.6% |
| Aug 2018 | $97,200 | +11.2% |
| Aug 2017 | $87,400 | +6.9% |
| Aug 2016 | $81,800 | — |
Source: Zillow Home Value Index (ZHVI), typical value of mid-tier homes, smoothed & seasonally adjusted. Areas with several ZIPs: population-weighted.
College Town home value score
from local value, rent & income
In ZIP 32304, rents are strong relative to prices (a high gross yield), and homes are moderately priced against local incomes.
How the Value Score is built
Computed figures
A transparent value snapshot — computed from U.S. Census ACS (2023) for this ZIP: home value, gross rent and household income. It is not a market-timing or appreciation forecast.
College Town vs Tallahassee, Florida and the U.S.
| College Town | Tallahassee | Florida | U.S. | |
|---|---|---|---|---|
| Typical value (Zillow, Aug 2026) | $168,200 | $277,100 | $410,200 | — |
| 1-year change | +0.2% | +1.2% | −1.2% | — |
| 5-year change | +31% | +21% | +22% | — |
| Median home value (Census) | $147,000 | $241,900 | $357,600 | $340,200 |
| Median household income | $30,823 | $67,800 | $75,700 | $78,500 |
| Median gross rent | $1,132/mo | $1,269/mo | $1,666/mo | $1,406/mo |
| Price-to-income ratio | 4.8× | 3.6× | 4.7× | 4.3× |
| Gross rental yield | 9.2% | 6.3% | 5.6% | 5.0% |
| Rent as share of income | 44% | 22% | 26% | 21% |
| Mortgage payment* | $743/mo | $1,223/mo | $1,808/mo | $1,720/mo |
Census figures: U.S. Census Bureau ACS 5-year estimates; areas spanning several ZIPs use population-weighted averages of ZIP medians, and city/state columns cover the ZIPs of the places listed on this site. Zillow: ZHVI. *Principal & interest on the Census median value, 20% down, 6.5% fixed, 30 years.
What it costs to buy a home in College Town
At today’s typical value of $168,200 (Zillow, Aug 2026), a buyer putting 20% down ($33,640) and financing the rest at 6.5% over 30 years would pay about $851 a month in principal and interest — 33% of the median household income here. That is above the common 28% guideline but under 36%, so budgets are stretched but workable for a median earner. The median rent is $1,132/month, so owning is roughly 25% cheaper per month than renting, even before counting equity.
Estimate only: excludes property tax, insurance, HOA and PMI, which vary by property. Incomes and rents are the latest Census (ACS 2023) figures. Run your own numbers in the estimator below.
What this means for buyers, sellers and investors in College Town
Buyers
At 4.8× local income, prices are moderate — compare a few nearby areas before committing.
Sellers
Values are up 0.2% on the year, so recent sales support your price — and get a home-specific estimate: condition and size move the number more than the area average.
Investors
A gross rental yield of 9.2% is strong — rents are high relative to prices, which favours cash-flow investors.
Other neighborhoods in Tallahassee
| Name | Home value | 1-yr | Income | Rent | Price / income |
|---|---|---|---|---|---|
| All Saints ZIP 32301 · shared | $212K | −0.0% | $50K | $1,200 | 4.2× |
| Apalachee Ridge ZIP 32301 · shared | $212K | −0.0% | $50K | $1,200 | 4.2× |
| Betton Hills | $292K | +1.9% | $73K | $1,327 | 4.0× |
| Bond ZIP 32310 · shared | $118K | +2.9% | $38K | $1,025 | 3.1× |
| Callen ZIP 32310 · shared | $118K | +2.9% | $38K | $1,025 | 3.1× |
| Cascades ZIP 32301 · shared | $212K | −0.0% | $50K | $1,200 | 4.2× |
| College Town ZIP 32304 · shared | $147K | +0.2% | $31K | $1,132 | 4.8× |
| Downtown ZIP 32301 · shared | $212K | −0.0% | $50K | $1,200 | 4.2× |
| Elberta Empire city data | — | — | — | — | — |
| Frenchtown ZIP 32301 · shared | $212K | −0.0% | $50K | $1,200 | 4.2× |
| Governor's Walk city data | — | — | — | — | — |
| Jake Gaither | $155K | +0.9% | $48K | $923 | 3.2× |
| Killearn Estates | $352K | +2.7% | $110K | $1,363 | 3.2× |
| Killearn Lakes | $406K | +0.8% | $120K | $1,505 | 3.4× |
| Lafayette Park ZIP 32303 · shared | $205K | +1.9% | $63K | $1,324 | 3.2× |
| Levy Park ZIP 32303 · shared | $205K | +1.9% | $63K | $1,324 | 3.2× |
| Los Robles ZIP 32303 · shared | $205K | +1.9% | $63K | $1,324 | 3.2× |
| Midtown ZIP 32303 · shared | $205K | +1.9% | $63K | $1,324 | 3.2× |
| Providence ZIP 32310 · shared | $118K | +2.9% | $38K | $1,025 | 3.1× |
| San Luis ZIP 32304 · shared | $147K | +0.2% | $31K | $1,132 | 4.8× |
| Southwood | $289K | +1.1% | $80K | $1,497 | 3.6× |
Home value, income and rent: Census ACS medians; 1-yr: Zillow ZHVI change over 12 months. Tap a column heading to sort.
College Town real estate FAQ
Are home prices going up in College Town?
What is the typical home value in College Town?
Is College Town affordable?
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Is College Town good for rental property investment?
What’s your College Town home worth?
Estimates are informational only and are not an appraisal.
About this data
Data last updated: September 2026.
Current values and trends use the Zillow Home Value Index (ZHVI) — the typical value of mid-tier homes, smoothed and seasonally adjusted — through Aug 2026. It is refreshed monthly.
Median values, incomes, rents, housing stock and commutes come from the U.S. Census Bureau’s American Community Survey (ACS) 5-year estimates at ZIP Code Tabulation Area level. City and state figures are population-weighted averages of their ZIPs.
The Value Score (0–10) blends gross rental yield and price-to-income affordability. It is a value snapshot, not a forecast.
Mortgage figures assume 20% down and a 6.5% fixed 30-year loan, principal and interest only.
These are area-level statistics, not an appraisal of any individual property, and not financial advice.
Sources: U.S. Census ACS · Zillow ZHVI.