The vibrant city of Tallahassee, FL, is emerging as a prime location for real estate investment. Tallahassee’s foreclosures market presents a lucrative investment avenue for investors, offering opportunities to acquire properties at competitive prices. Its neighboring cities in Florida as well as Georgia have been having some spillover investor interest.
As the political and administrative heart of Florida, Tallahassee boasts a relatively stable economy supported by the thriving hospitality, education, and healthcare sectors. It offers a unique blend of urban amenities and Southern charm that appeals to a wide range of investors. The presence of major universities like Florida State University and Florida A&M University contributes to a dynamic and youthful atmosphere, driving demand for rental properties and student housing.
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As per the December data compiled by ATTOM Data, 4,203 residential properties had been sold in Tallahassee over the past year with a median home price of $312,500. Investors venturing into the foreclosures market should know that ATTOM reported a total of 31 foreclosure filings in 2024 in this city.
Investors can seize the opportunity to benefit from Tallahassee’s growing influence on nearby cities in Florida and Georgia. In Georgia, you can effortlessly bid on properties from anywhere with Auction.com’s Remote Bid feature. This feature allows you to participate in multiple auctions simultaneously, whether you’re in your home office, at a café, or even while traveling. Maximize your investment potential with the convenience and flexibility of remote bidding.
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Cities such as Florida’s Panama City, Altha, Quincy, and Georgia’s Cuthbert, Cairo, Moultrie, each offer unique charms and potential for high returns on investment. Let’s dig deeper.
Cities in Florida for Real Estate Investment
1.Quincy 3.Altha 4.Marianna 6.Chipley
Investor-Friendly Georgia Cities Near Tallahassee
1.Cairo 2.Moultrie 3.Camilla 4.Lakeland
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Cities in Florida for Real Estate Investment
Quincy
Quincy, the county seat of Gadsen County, has plenty of Old Florida charm with its 36-block historic district and an art scene replete with everything from an all-musical community theatre to frequent standup comedy acts. Zillow’s December 2024 data revealed that the average value of homes increased by 5.9% Year-over-Year (YoY) in Quincy. Additionally, a new housing development is expected to help meet the demand for workforce housing in the area, providing a boost to businesses in surrounding communities.
Panama City
Image: A beach in Panama City
Situated along US Highway 98, it is one of the largest cities in Florida. Each of the four historic neighborhoods in Panama City has its unique character and socio-cultural importance, in addition to diverse real estate inventory. The numerous marinas and boat ramps provide perennial opportunities for fun in the sun. Realtor.com reported in December 2024 that the median listing home price grew by 3.4% YoY to $330.7K.
Altha
Altha is located in Calhoun County, an hour outside of Tallahassee. While Altha prides itself for its agricultural heritage and rural community, a number of major development projects are underway in the city including a solar farm that is slated to produce 253,851 kWh of solar energy annually. Zillow’s December 2024 data revealed that the average home value was up 2.4% Year-over-Year (YoY) to $203.7K.
Marianna
Image: Florida Caverns State Park in Marianna
An hour west of Tallahassee, the Northwestern Florida town of Marianna is situated along the I-10 highway. Home values in Marianna witnessed a 1.5% hike YoY to $185.7K, as per Zillow’s December 2024 data. Marianna’s outdoor recreation opportunities, such as paddling, camping, biking, and hiking at Florida Caverns State Park, provide investors with unique selling points to attract homebuyers. Additionally, guided tours of the extensive cave system offer a rare and exciting experience for outdoor enthusiasts.
Lake City
Image: Luxury waterfront properties in Lake City
Situated in northern Florida, Lake City offers convenient access to major highways, making it easy to travel to nearby cities and attractions. With numerous parks, lakes, and natural attractions like Alligator Lake Recreation Area and Falling Creek Falls, Lake City provides ample outdoor activities that enhance the quality of life. In December 2024, Zillow reported that the average home value in Lake City grew by 3.3% over the previous year to $252.8K.
Chipley
Image: Falling Waters State Park in Chipley
Chipley is conveniently located near larger cities like Pensacola and Panama City Beach, providing easy access to urban amenities while maintaining a small-town charm. Redfin’s December 2024 data showed that Chipley’s homes sold for a median price of $181K, indicating a 7.4% increase YoY with a “somewhat competitive” housing market.
Investor-Friendly Georgia Cities Near Tallahassee
Cairo
Image: The Ochlockonee River that runs through Cairo
As per Rocket Homes, an average home in Cairo was sold for 26.5% more in December 2024 than a year earlier. The city, 33.8 miles north from Tallahassee, is home to quality schools and educational institutions, which is a significant factor for families considering relocation. With nearby attractions such as the Birdsong Nature Center and the Jack Hadley Black History Museum, Cairo offers plenty of outdoor and cultural activities for residents.
Camilla
Situated 59 miles north from Tallahassee, Camilla, GA is poised for growth with upcoming infrastructure improvement projects aimed at revitalizing underdeveloped areas. The city also has plenty of recreational avenues, hosting events like the Gnat Days Festival and the Camilla Pro Invitational Tennis Tournament. Investors should capitalize on the fact that the median sale price of a home in Camilla went up 31% in December 2024 since a year before and is likely to continue this upward trajectory.
Moultrie
Image: Colquitt County courthouse in Moultrie
The farming town of Moultrie, 64 miles northeast of Tallahassee, is a quaint family-oriented location with properties that boast ample square footage. This city, named after a Revolutionary War hero, is the third largest city in Southwest Georgia, behind Thomasville and Albany. The average home value here increased by 6.2% YoY to $142K, according to Zillow’s December 2024 data, with homes in neighborhoods like Brook Haven and North Patterson Street selling at some of the higher prices.
Lakeland
Lakeland, known as “The City of Murals”, is located 105 miles northeast of Tallahassee and 33 miles from the FL-GA state line. Zillow reported in December 2024 that Lakeland witnessed a 5% hike in average home value over the previous year. Investors can appeal to homebuyers with that outdoorsy spirit with Lakeland’s Banks Lake, which is a National Wildlife Refuge in addition to featuring various hiking trails and lakefront recreational avenues.
To sum up, if you’re seeking investment opportunities outside Tallahassee, it’s worth exploring nearby cities like Panama City, Quincy, and Marianna. Additionally, investors in Tallahassee might find appealing options in neighboring Georgia, with promising alternatives such as Cairo and Moultrie near the state line, as well as Camilla and Lakeland further into the state.
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