ZIP Code · FL

ZIP 32304

Part of Tallahassee, FL

Pop. 51,673·Leon County·650th most expensive ZIP in Florida

Median rent (all units)

$1,334/mo

Year-over-Year

+4.7%

Month-over-Month

+0.4%

vs US Median

-$598

Reported rents

Stable (Monthly)

Be the first to discuss 32304 rents ↓

Most AffordableMost Expensive

ZIP 32304 · $1,334

More affordable than 84% of US ZIP codes · National median $1,932/mo

Rent check

Is your rent fair?

Compare your rent to the local median.

Medians by bedroom

Rent by unit size

Studio

$1,100

1 BR

$1,210

2 BR

$1,360

3 BR

$1,680

4 BR+

$1,800

Research median

$1,360/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

Loading…

Last updated: October 17, 2026

From the history

What the numbers show

Cheapest month to sign

September. Asking rents in ZIP 32304 usually run 0.8% below trend in September and 0.9% above it in March, about $23 a month apart at today's median. Based on 11 years of data.

Compared with the peak

Rent in ZIP 32304 is at its highest level since Zillow's records here began in January 2015.

Past year vs. the rest of Florida

Rent in ZIP 32304 changed +4.7% over the year to September 2026. Across the 623 Florida ZIP codes Zillow tracks, the typical change was +1.8%.

Rent vs. income since 2019

From 2019 to 2024, rent in ZIP 32304 rose 49.6% while median household income rose 36.8% ($23,638 to $32,348). Rent outpaced income.

Recent direction

Rent has risen 4 months in a row, and rose in 9 of the last 12 months.

What a typical income covers

30% of the median household income ($32,348) is $809 a month. That is less than HUD's Fair Market Rent for a studio ($1,100).

Rank in Tallahassee

3rd cheapest of 10 ZIP codes in Tallahassee.

From Zillow's monthly rent index (ZORI) for ZIP 32304. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$16,008/yr

At $1,334/mo median

Location

CityTallahassee

StateFL

CountyLeon County

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (4.7% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+4.7% YoY, +0.4% MoM), not inventory.

Demographics

Who lives here

ZIP 32304 (Tallahassee, FL) is majority renter-occupied, skews toward younger working-age adults, has a median income below the national average, 36.1% of residents hold a bachelor's degree or higher.

Population

51,673

Median income

$32,348

Median age

Renters

86.5%

Age distribution

73.4%

Under 187.9%

18–3473.4%

35–5411.1%

55–644.4%

65+3.3%

Gender

46.3%

53.7%

Male46.3%

Female53.7%

Race & ethnicity

48.1%

36.4%

White48.1%

Black36.4%

Hispanic10.3%

Asian4.1%

Other1.1%

Education (25+)

25.7%

28%

36.1%

No HS diploma10.2%

HS diploma25.7%

Some college28%

Bachelor's+36.1%

Housing tenure

13.5%

86.5%

Owner13.5%

Renter86.5%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How ZIP 32304 in Tallahassee, FL has changed in 5 years

Rent

$896 → $1,334

up 48.9%

Income

$26,060 → $32,348

up 24.1%

Population

45,853 → 51,673

up 12.7%

Renter share

85.7% → 86.5%

+0.8 pts

Bachelor's+

32.4% → 36.1%

+3.7 pts

Median age

22.5 → 22

-0.5 yrs

The median rent in ZIP 32304 in Tallahassee, FL stood at $896 in 2021 and currently runs about $1,334, reflecting a 48.9% increase over the period. Median household income rose from $26,060 to $32,348 between 2021 and 2024, a 24.1% shift. That spread, with rent up faster than earnings, points to a tougher affordability environment than five years ago. The population has grown by 12.7% since 2021, moving from about 45,853 residents to roughly 51,673. College-educated residents now make up 36.1% of adults here, versus 32.4% in 2021. Taken together, the five-year picture in ZIP 32304 in Tallahassee, FL reflects how housing costs and the people paying them have evolved through a stretch that included a pandemic, a hot rental market, and a recent cooling phase.

Community

Discussions about ZIP 32304

No discussions yet. Start the conversation.

Local insights

Tips for renters in ZIP 32304

About renting in ZIP 32304

Last updated: October 17, 2026

ZIP code 32304 covers Tallahassee, FL. The median rent here is $1,334/mo as of October 2026. A 1-bedroom rents for a median of $1,210/mo. A 2-bedroom rents for a median of $1,360/mo.

At 49% of local median household income ($32,348/yr), ZIP 32304 ranks as moderate compared to the national benchmark of 30%. Rents have increased 4.7% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 32304?

To keep rent at or below 30% of gross income, you would need to earn at least $53,000/year (about $25/hour full-time) to afford the median rent of $1,334/mo in ZIP 32304. The local median household income is $32,348/yr, so the typical household falls short of that bar.

Is rent going up or down in ZIP 32304?

Rent in ZIP 32304 has risen 4.7% over the past year as of September 2026. That is the highest level since Zillow's records here began in January 2015.

When is the cheapest time to rent in ZIP 32304?

Asking rents in ZIP 32304 are usually lowest in September, about 0.8% below their yearly trend, and highest in March, about 0.9% above it. At today's median that is a gap of roughly $23 a month. This pattern comes from 11 years of Zillow rent data.

Has rent outpaced income in ZIP 32304?

Yes. From 2019 to 2024, rent in ZIP 32304 rose 49.6% while median household income rose 36.8%, from $23,638 to $32,348. Rent is Zillow's yearly average; income is the Census 5-year estimate for the same years.

How does ZIP 32304 compare to other ZIPs in Florida?

ZIP 32304 is one of the more affordable among Florida ZIP codes for rent, ranking #650 of 656 at $1,334/mo. Over the year to September 2026, rent in ZIP 32304 changed +4.7%, against a typical +1.8% across the 623 Florida ZIP codes Zillow tracks.