501 Howard Ave, Tallahassee
Leon County Real Estate - Tallahassee
Tallahassee
Tallahassee is the seventh most populous city in Florida and serves as the state's capital. Tallahassee is located in Leon County. Much of Tallahassee's economy revolves around the city's numerous colleges and universities, including Florida State University and Florida A&M University. Trade and agriculture are also central to Tallahassee's economy. Tallahassee is a regional center for scientific research. The largest and highest powered magnet research laboratory in the world, National High Magnetic Field Laboratory, is located in Tallahassee. Top employers for Tallahassee are State of Florida, Florida State University, Leon County Schools, Tallahassee Memorial Healthcare, and City of Tallahassee.
Tallahassee is in North West Florida. It's population as recorded in the 2010 Census was 181,376.
The median age for residents of Tallahassee is 26.1. Around 23.5% of Tallahassee households include school aged children and 15% of households include individuals aged 65 years or over. Census records indicate 57.4% of the Tallahassee population are White, 34.9% are Black or African American, .2% American Indian, 3.6% Asian and 2.3% are Two or more Races.
There are 84,248 housing units in Tallahassee. 9,433 (11.1%) of these were reported as vacant in the 2010 Census. There are 49,757 residential rental units in Tallahassee. 43,829 of them were occupied in 2010 providing a residential rental vacancy rate of 11.6%.
Tallahassee links:
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Leon County
Leon County is part of the northwest region of Florida, along with Bay, Santa Rosa, Escambia, Walton, Holmes, Jackson, Washington, Okaloosa, Calhoun, Liberty, Gulf, Franklin, Gadsden, Jefferson, and Wakulla counties. Main industries for this area include advanced manufacturing, aviation, aerospace, defense, health sciences, renewable energy, and transportation. Florida's capital, Tallahassee, is a part of Leon County, and also acts as the county seat. The county has over 275,000 inhabitants.
Two of Florida's main Universities, Florida State University and Florida A&M University, are also a part of Leon County. As a result, Leon County has the highest average level of education among Florida's 67 counties. Leon County's regional economy remained stable throughout the recession as a result of a significant public sector presence. The unemployment rate has decreased and is below the state average at 8.1%. The housing market has not been as negatively affected in this county as in the rest of the state; the tax base loss is moderate and foreclosure rates equal the national average. The largest private sector employers are Tallahassee Memorial healthcare, Publix Supermarkets, Walmart, Capital Regional Medical Center, and ACS. Top public employers are the State of Florida, Florida State University, Leon County Schools, City of Tallahassee, and Florida A&M University.
Much of the economy is driven by the state government, especially the two universities. Both are major research universities; Florida State attracts over $200 million annually, while FAMU brings in at least $30 million each year. FSU operates the National High Magnetic Lab, the world?s most powerful and largest magnetic laboratory. In addition to offering numerous degree programs at all levels, both universities also run law and medical schools. FSU and FAMU are located in Tallahassee.
Tallahassee Regional Airport handles commercial and general aviation. Around 400,000 people make use of its facilities each year. The airport is responsible for an economic impact around $350 million annually and sustains about 4,000 careers.
Neighboring Properties
| Address | Type | Sq Ft | Class | |
|---|---|---|---|---|
| 505 Howard Ave | Single Family | 1,978 | B |
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| Orange Ave W | Vacant Institutional Property | 0 | L | |
| 500 Howard Ave | Single Family | 1,376 | B |
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| 504 Howard Ave | Single Family | 1,720 | B |
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| 509 Howard Ave | Single Family | 955 | B |
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| 503 Hampton Ave | Vacant Residential | 0 | L | |
| 512 Howard Ave | Single Family | 3,454 | B |
|
| 513 Howard Ave | Single Family | 1,079 | B |
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| 516 Orange Ave W | Vacant Commercial | 907 | C |
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| 516 Orange Ave W | Store, one story | 907 | C |
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| 505 Hampton Ave | Single Family | 2,634 | B |
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| 507 Hampton Ave | Single Family | 1,972 | B |
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| 515 Howard Ave | Single Family | 1,377 | B |
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| 509 Hampton Ave | Vacant Residential | 0 | L | |
| 425 Orange Ave W | Single Family | 2,277 | B |
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| 517 Howard Ave | Single Family | 1,207 | B |
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| 516 Howard Ave | Single Family | 2,426 | B |
|
| 520 Orange Ave W | Store, one story | 1,512 | C |
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| 515 Hampton Ave | Single Family | 2,232 | B |
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| 502 Hampton Ave | Single Family | 1,299 | B |
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| 506 Hampton Ave | Single Family | 1,859 | B |
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Local Household Income
The median household income in this part of Florida is $62,774. The bottom 10% of the population earn less than $13,835 per year. The top 10% earn more than $155,028 per year. The top 1% earn more than $559,015 per year. Most renters earn between $23,328 (20th percentile) and $38,892 (80th percentile) per year. Someone earning the median household income in this area is likely to qualify for a mortgage between $125,548 and $156,935.
The tax assessed value of this property places it in percentile 25 of all properties in this area. This suggests it would appeal to someone earning around $32,181 per year who should qualify for a mortgage between $64,362 and $80,453.
Source: US Census American Community Survey - 2008-2012 ACS 5-year PUMS estimates
Local Rents
The median monthly rent in this part of Florida is $904. Most renters earn between $1,944 and $3,241 per month. They typically spend 38% of their monthly income on rent. Most rents fall in the $665 (20th percentile) to $1,212 (80th percentile) range. The residential vacancy rate is 6%.
This property falls in percentile 25 of all properties in this area. This corresponds to a rent of $706 per month and a monthly household income of $2,068 ($24,816 per year)
Nearby Companies
516 Worange
515 Howard Ave
505 Hampton Ave
506 Hampton Ave