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Study: Tallahassee Housing Among Most Affordable U.S. Markets, But There's A Catch

Tallahassee is an affordable place to live—if you’re a college student. That’s the bottom line from a report by the rental tracker service, Zumper.

The average rent for a one-bedroom apartment in Tallahassee is $650 a month. That makes it one of the most affordable in the nation. But some residents may wonder who is renting for that price, and Zumper analyst Tanguy Le Louarn says, it's college students:

“I think the price reflects the fact Tallahassee is a college town. Gainesville is similarly priced.  A high proportion of jobs are provided by Florida State and….other schools, makes those prices execute toward the lower end," Le Louarn said.

He says the low rent may sound like a good thing, but when it’s only accessible to a few people, everyone pays more for fewer properties. Tallahassee’s average rental rate has increased by 8.5 percent since last year, with the biggest change coming in the first half of 2016. Zumper surveyed 100 medium-sized and large metros in the U.S. Tallahassee ranks as the 77th most expensive rental market in the country this month.