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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Fort Walton Beach, FL Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Fort Walton Beach, FL Housing Market Trends

With 20,998 people, 8,840 houses or apartments, and a median cost of homes of $392,775, Fort Walton Beach real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Fort Walton Beach, accounting for 64.97% of the city's housing units. Other types of housing that are prevalent in Fort Walton Beach include large apartment complexes or high rise apartments ( 21.61%), row houses and other attached homes ( 6.57%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.32%).

The most prevalent building size and type in Fort Walton Beach are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 59.77% owning and 40.23% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Fort Walton Beach's housing was primarily built during this period, from the '40s through the '60s. A full 46.16% of the city's housing hails from this era. Other housing ages represented in Fort Walton Beach include homes built between 1970-1999 ( 40.00%) and housing constructed between 2000 and later ( 13.18%).

Vacant housing appears to be an issue in Fort Walton Beach. Fully 11.71% of the housing stock is classified as vacant. Left unchecked, vacant Fort Walton Beach homes and apartments can be a drag on the real estate market, holding Fort Walton Beach real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Fort Walton Beach Home Appreciation Rates

In the last 10 years, Fort Walton Beach has experienced some of the highest home appreciation rates of any community in the nation. Fort Walton Beach real estate appreciated 137.11% over the last ten years, which is an average annual home appreciation rate of 9.02%, putting Fort Walton Beach in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Fort Walton Beach definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Fort Walton Beach appreciation rates have trailed the rest of the nation. In the last twelve months, Fort Walton Beach's appreciation rate has been 3.90%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Fort Walton Beach were at -0.44%, which equates to an annual appreciation rate of -1.76%.

Relative to Florida, our data show that Fort Walton Beach's latest annual appreciation rate is lower than 70% of the other cities and towns in Florida.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Fort Walton Beach differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Fort Walton Beach - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Fort Walton Beach real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$392,775

Fort Walton Beach, FL Home Prices
> $1,381,000
$1,036,001 - $1,381,000
$690,001 - $1,036,000
$553,001 - $690,000
$414,001 - $553,000
$276,001 - $414,000
$138,001 - $276,000
$69,001 - $138,000
$0 - $69,000
2.0%
2.0%
1.8%
1.8%
7.4%
7.4%
9.7%
9.7%
17.7%
17.7%
30.3%
30.3%
24.1%
24.1%
4.6%
4.6%
2.5%
2.5%
0% 100.0%
% of Homes
Average

for Florida

High

for nation

Number of Homes And Apartments:

8,840

Fort Walton Beach Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,917 / per month

Homeownership Rate

Owners
Renters
59.8%
59.8%
40.2%
40.2%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
11.7%
11.7%
88.3%
88.3%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
13.2%
13.2%
40.0%
40.0%
46.2%
46.2%
0.7%
0.7%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
65.0%
65.0%
6.6%
6.6%
6.3%
6.3%
21.6%
21.6%
0.2%
0.2%
0.4%
0.4%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
3.1%
3.1%
13.3%
13.3%
18.4%
18.4%
47.1%
47.1%
16.5%
16.5%
1.6%
1.6%
0% 100.0%
% of Homes