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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!
|
Housing Affordability |
|
2004 |
Median Income |
Median
Price |
|
Okaloosa |
$54,700 |
$169,833 |
|
United States |
$63,278 |
$170,800 |
|
2005 |
|
|
|
Okaloosa |
$55,150 |
$238,400 |
|
United State |
$62,732 |
$213,000 |
|
2006 |
|
|
|
Okaloosa |
$57,800 |
$233,600 |
|
United State |
$65,093 |
$217,900 |
|
2007 |
|
|
|
Okaloosa |
$62,600 |
$215,900 |
|
United State |
$59,000 |
$212,300 |
|
Source: UWF Haas Center |
75% of the population own
their own home. |
|
The EDC and the business leaders of Okaloosa
County are striving to identify and remedy the
problem of affordable workforce housing within Okaloosa
County; a common problem with other communities within
the State of Florida as well as around the Country.
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.
Eglin AFB reports being able to
accommodate 20% of the 7,000+ 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.
|
Single Family Home Average Prices |
|
Location |
Purchase |
Rent |
|
|
2003 |
2005 |
2007 |
2003 |
2005 |
2007 |
|
Crestview |
$156,000 |
$196,199 |
$200,423 |
$800/mo |
$1,000/mo |
$1,313/mo |
|
|
Destin |
$400,000 |
$725,805 |
$664,535 |
$1,500/mo |
$1,700/mo |
$1,434/mo |
|
Greater Ft. Walton Beach |
$150,000 |
$265,072 |
$227,800 |
$1,000/mo |
$1,050/mo |
$964/mo |
|
Niceville/Valparaiso |
$220,000 |
$340,467 |
$306,480 |
$1,150/mo |
$1,400/mo |
$1,154/mo |
|
Source: Emerald Coast Association
of Realtors |
|
Average Price |
3 bedroom/2 bath
1750-1850 sq. ft. home less than 5 years old |
|
Location |
2006 |
2007 |
| Crestview |
$155,000 |
$223,593 |
| Destin |
$375,000 |
$385,950 |
| Greater Ft. Walton Beach |
$240,000 |
$322,150 |
| Niceville/Valparaiso |
$240,000 |
$281,302 |
|
Source: Emerald Coast Association of Realtors |
|
Okaloosa Real Estate Sales |
|
1st Qrtr 06 |
1st Qrtr
07 |
| Single Family
Homes |
1,043 |
759 |
| Condos/Townhomes
|
607 |
513 |
|
Total Home Sales |
1,650 |
1,272 |
| New Home Sales |
569 |
493 |
| Home Re-sales |
1,081 |
779 |
| Lots with
Construction |
34 |
36 |
|
Source: UWF Haas Center |
The impact from the hurricanes
that hit Northwest Florida in 2005 continue to be a factor in the
comparison of real estate sales.
|
Okaloosa Permits |
| |
1st
Qrtr 05 |
1st
Qrtr 06 |
1st
Qrtr 07 |
| Construction Value |
$19,009,411 |
$44,997,639 |
$77,950,000 |
| One-Family Units |
41 |
248 |
191 |
| Multi-Family Units |
25 |
12 |
165 |
|
|
|
Source: UWF Haas Center |
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