Okaloosa County, Florida Housing Market Prices
Okaloosa County Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 46% above the Florida median More expensive than 91% of counties in Florida$454,665
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Median rent 3% below the Florida median More expensive than 76% of counties in Florida$1,611
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Okaloosa County | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $454,665 | $311,338 | $248,835 |
| Price Trend (Annual %) | 17.5% | 11.2% | 7.5% |
| Median Gross Rent | $1,611 | $1,668 | $1,407 |
| Rent Trend (Annual %) | 5.7% | 6.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Okaloosa County is about 46% higher than in Florida. Rent is about 3% lower than the Florida average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Okaloosa County, up about 17.5% and 5.7% a year respectively. Home prices are changing faster.
Median rent in Okaloosa County rose about 57.4% between 2015 and 2024, from $1,024 to $1,611. Over the same span, rent in Florida rose about 66.5%.
Affordability
On average, housing unit costs 5.5 yearly household incomes in Okaloosa County.
Buying the median-priced home in Okaloosa County costs roughly 23.5 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Okaloosa County. The price-to-rent ratio in Florida is about 15.6.
| Metric | Okaloosa County | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $454,665 | $311,338 | $248,835 |
| Median Household Income | $82,690 | $74,580 | $80,455 |
| Price-to-Income Ratio | 5.5 | 4.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Okaloosa County rose about 248.0%, while median household income rose about 42.9% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Okaloosa County | Florida Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 56.2% | 57.7% | 58.5% |
| Rental Rate | 26.0% | 27.7% | 31.2% |
| Vacancy Rate | 17.8% | 14.6% | 10.2% |
| Median Tenure (years) | 12.0 | 13.0 | 15.0 |
| Median Year Moved In | 2014 | 2013 | 2011 |
Okaloosa County has a homeownership rate of 56.2%, lower than the Florida average of 57.7%. Its housing vacancy rate is 17.8%, compared with 14.6% in Florida.
Housing Stock
| Metric | Okaloosa County | Florida Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.48 people | 2.50 people | 2.53 people |
| Median Structure Built Year | 1990 | 1988 | 1978 |
| Median Number of Rooms | 5.6 | 5.2 | 5.5 |
The typical housing unit in Okaloosa County was built around 1990. On average, 2.5 people live in a home with about 5.6 rooms, staying for about 12.0 years on average.
Okaloosa County, FL Housing Compared With Nearby Counties
Okaloosa County, FL is the 2nd largest of the 6 counties compared here, 216,584 residents against a local median of 82,948. The measure that sets Okaloosa County, FL apart most is median home price: $454,665, 119% above the local median of $207,911.
Median rent tells the same story from another angle: $1,611 against a local median of $1,321, 22% above it. The counties themselves spread $410,110 on median home price, so Okaloosa County, FL sits at one end of an already wide local range rather than apart from it. Okaloosa County, FL has the 2nd highest median home price of the 6 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Okaloosa County, FL | 216,584 | $454,665 #2/6 | $1,611 #2/6 | 68.4% #5/6 |
| Walton County, FL | 82,948 | $468,285 | $1,740 | 78.6% |
| Santa Rosa County, FL | 198,472 | $261,734 | $1,544 | 80.6% |
| Covington County, AL | 37,628 | $58,175 | $745 | 76.3% |
| Escambia County, FL | 325,414 | $207,911 | $1,321 | 64.8% |
| Escambia County, AL | 36,629 | $183,962 | $766 | 70.9% |
Frequently Asked Questions
Common questions about the housing market in Okaloosa County, Florida.
What is the median home price in Okaloosa County, Florida?
The median home price in Okaloosa County, Florida is $454,665, higher than the Florida average of $311,338.
What is the average home price in Okaloosa County, Florida?
The typical home price in Okaloosa County, Florida, reported as the median sale price, is $454,665. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Okaloosa County, Florida?
The median gross rent in Okaloosa County, Florida is $1,611 per month, lower than the Florida average of $1,668.
What was the median gross rent in Okaloosa County in 2020?
In 2020, the median gross rent in Okaloosa County, Florida was $1,156 per month.
What is the price-to-rent ratio in Okaloosa County, Florida?
The price-to-rent ratio in Okaloosa County, Florida is about 23.5, meaning it would take roughly 23.5 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Okaloosa County.
Are home prices or rent rising faster in Okaloosa County, Florida?
Both home prices and rent are rising in Okaloosa County, up about 17.5% and 5.7% a year respectively. Home prices are changing faster.
What is the homeownership rate in Okaloosa County, Florida?
56.2% of households in Okaloosa County, Florida own their home, lower than the Florida average of 57.7%.
What is the vacancy rate in Okaloosa County, Florida?
The housing vacancy rate in Okaloosa County, Florida is 17.8%, higher than the Florida average of 14.6%.
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