Site
Index |
Military
Growth l
Real Estate Data
Okaloosa County,
Florida...
"Top-Ten Best
Places
to Live in America"
Money Magazine
Okaloosa County offers vast
opportunities in commercial and residential real estate. Its
diversified characteristics meet the various needs of our growing
community.
Whether you are building,
renovating, leasing, selling or buying Okaloosa businesses can do it
all!
75% of the population own
their own home.
|
Housing Affordability |
|
|
Median Income |
Median
Price |
|
2008 |
|
|
|
Okaloosa |
$62,600 |
$197,900 |
|
United States |
$59,000 |
$206,200 |
|
2009 |
|
|
|
Okaloosa |
$66,300 |
$185,500 |
|
United States |
$64,000 |
$169,000 |
|
2010 |
|
|
|
Okaloosa |
$65,500 |
$190,500 |
|
United States |
$68,300 |
$166,100 |
|
Source: UWF Haas Center |
|
|
2010 Housing
Affordability Index
|
Loan Amount Required: |
80% |
|
|
|
|
|
|
|
National Loan Rate: |
4.99 |
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Average Regional Loan Rate: |
4.99 |
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Number of Monthly Periods: |
360 |
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Payment Period in Years: |
30 |
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Median
|
Median
|
Loan
|
Monthly
|
Annual
|
Required5
|
Housing Affordability Indices
|
|
Area |
Income
|
Price
|
Amount
|
Payment
|
Payment
|
Income
|
Q1 10
|
Q4 09
|
Q3 09
|
|
Panama City MSA |
$57,400 |
$150,800 |
$120,640 |
$647 |
$7,764 |
$31,056 |
184.83 |
161.72 |
154.06 |
|
Pensacola MSA |
$57,500 |
$140,700 |
$112,560 |
$604 |
$7,248 |
$28,992 |
198.33 |
190.94 |
182.39 |
|
Fort Walton Beach MSA |
$65,500 |
$190,500 |
$152,400 |
$817 |
$9,804 |
$39,216 |
167.02 |
170.74 |
158.95 |
|
US |
$68,300 |
$166,100 |
$132,880 |
$713 |
$8,556 |
$34,224 |
199.57 |
176.83 |
174.29 |
|
Source: UWF Haas Center |
|
|
|
|
|
|
|
Military Growth
The EDC and the business leaders of Okaloosa
County continue to focus on affordable workforce housing
within Okaloosa County.
The EDC formed the
Essential Workforce
Housing Initiative to include Okaloosa, Santa Rosa, and
Walton Counties as well as
Eglin AFB and Hurlburt Field.
This initiative is addressing the current housing needs as
well as the needs of the anticipated influx of military personnel and
their families.
As a realtor, you can assist your
communities as well as your clients with a better
understanding of the military process and
growth issues.
To assist you in this process, provided is a National Realtors
Association comprehensive and easy to understand publication:
A
REALTORS Guide to Military Base Closure, Realignment and
Encroachment.
Eglin AFB reports being able to
accommodate 20% of the 5,000+ military personnel moving to the
area as a result of the BRAC realignments. The other 80%
will need to live in the civilian
communities; our cities and
towns.
Eglin Housing
Privatization EIS
|
Incoming BRAC Military
Personnel and Families |
| |
Personnel |
Spouses |
Children |
Total |
| 7th Special Forces Group |
1,837 |
1,262 |
1,786 |
4,885 |
| Joint Strike Fighter Initial Training
Center (59 aircraft) |
1,563 |
78 |
938 |
2,579 |
|
Totals |
3,400 |
1,340 |
2,724 |
7,464 |
|
Source: 7SFG January
2011. Note: One additional battalion is possible |
The EDC and its
Defense Support Initiative
have partnered with the Workforce Development Board for
Okaloosa and Walton Counties in their BRAC Transition Council
in developing their
Welcome to Northwest Florida
website in support of military families. During this
process it has been identified that the Army Special Forces
families will have a unique need when they relocate to
Okaloosa County in 2011; they will require temporary housing
with kitchenettes while they search for their permanent homes.
The Army families, over 2,000, will move to Okaloosa County in
roughly four phases between April and September 2011.
That is a large influx of families into the area and the local
military bases are not able to provide the needed temporary
lodging when they locate here and are home searching.
If you have a rental property with a kitchenette to lease
to a military family please visit the
AHRN website and enter your
property information.
# # #
Real Estate Data
|
2010 Housing Units |
|
|
Units |
Owner Occupied |
Renter Occupied |
Vacant |
|
Okaloosa County |
96,944 |
52.7% |
27.5% |
19.8% |
|
Cinco Bayou |
256 |
57.4% |
24.6% |
18.0% |
|
Crestview |
7,804 |
59.0% |
27.3% |
13.7% |
|
Destin |
17,087 |
38.7% |
15.8% |
45.5% |
|
Fort Walton Beach |
9,484 |
55.2% |
35.1% |
9.7% |
|
Laurel Hill |
289 |
69.2% |
14.5% |
16.3% |
|
Mary Esther |
1,769 |
61.4% |
28.1% |
10.5% |
|
Niceville |
5,432 |
63.4% |
28.0% |
8.6% |
|
Shalimar |
313 |
67.5% |
22.3% |
10.2% |
|
Valparaiso |
2,099 |
61.4% |
31.3% |
7.3% |
|
Source: ESRI |
|
Comparison of County Real Estate Sales |
| |
Quarter 1 2010
|
Quarter 1
2009
|
Percent Change
|
|
Okaloosa County |
|
|
|
|
Single Family Homes |
570 |
456 |
25.0% |
|
Condominiums/Townhomes |
215 |
151 |
42.4% |
|
Total Home Sales |
785 |
607 |
29.3% |
|
New Home Sales |
79 |
64 |
23.4% |
|
Home Resales |
706 |
543 |
30.0% |
|
Lots with Construction Loans
|
23 |
8 |
187.5% |
|
Source: UWF Haas Center |
|
|
|
|
Okaloosa Real Estate Sales |
|
1st Qrtr
2006 |
1st Qrtr
2007 |
1st Qrtr
2008 |
1st Qrtr
2009 |
1st Qrtr
2010 |
| Single Family
Homes |
1,043 |
759 |
575 |
456 |
570 |
| Condos/Townhomes |
607 |
513 |
331 |
151 |
215 |
|
Total Home Sales |
1,650 |
1,272 |
906 |
607 |
785 |
| New Home Sales |
569 |
493 |
273 |
64 |
79 |
| Home Re-sales |
1,081 |
779 |
633 |
543 |
706 |
| Lots with
Construction |
34 |
36 |
13 |
8 |
23 |
|
Source: UWF Haas Center |
|
Okaloosa Permits |
|
1st
Qrtr 06 |
1st
Qrtr 07 |
1st
Qrtr 08 |
1st Qrtr 09 |
1st Qrtr 10 |
| Construction Value |
$44,997,639 |
$77,950,000 |
$17,315,000 |
$13,103,000 |
$15,264,000 |
| One-Family Units |
248 |
191 |
81 |
43 |
67 |
| Multi-Family Units |
12 |
165 |
5 |
10 |
0 |
|
|
|
Source: UWF Haas Center |
Permits or
inspections can now be researched on Okaloosa County’s web site:
http://www.co.okaloosa.fl.us/dept_growth_mgmt.html
Military
Growth l
Real Estate Data
|
