With 21,817 people, 8,103 houses or apartments, and a median cost of homes of $198,101, 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 66.33% 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 ( 18.75%), duplexes, homes converted to apartments or other small apartment buildings ( 9.75%), and a few row houses and other attached homes ( 4.35%).
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 56.91% owning and 43.09% 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 50.37% of the city's housing hails from this era. Other housing ages represented in Fort Walton Beach include homes built between 1970-1999 ( 40.57%) and housing constructed between 2000 and later ( 8.00%). There's also some housing in Fort Walton Beach built before 1939 ( 1.07%).
Vacant housing appears to be an issue in Fort Walton Beach. Fully 13.48% 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.
Homes have actually lost value in Fort Walton Beach over the last then years, as home values have seen a decline of 23.91% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Fort Walton Beach home appreciation rates at 5.35%, which equates to an annual appreciation rate of 23.18%.
Appreciation rates are so strong in Fort Walton Beach that despite a nationwide downturn in the housing market, Fort Walton Beach real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Fort Walton Beach appreciation rates continue to be some of the highest in America, at 6.44%, which is higher than appreciation rates in 79.53% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Fort Walton Beach. Fort Walton Beach appreciation rates in the latest quarter were at 5.35%, which equates to an annual appreciation rate of 23.18%.
Importantly, this makes Fort Walton Beach one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to Florida, our data show that Fort Walton Beach's latest annual appreciation rate is lower than 80% 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.
|$891,001 - $1,188,000||0.8|
|$594,001 - $891,000||3.1|
|$475,001 - $594,000||2.4|
|$356,001 - $475,000||7.0|
|$238,001 - $356,000||17.2|
|$119,001 - $238,000||49.7|
|$59,001 - $119,000||12.9|
|$0 - $59,000||5.3|
|Value Relative to Nation||Value Relative to State|
|AGE OF Fort Walton Beach HOMES|
|2000 or Newer||8.0|
|1970 - 1999||40.6|
|1940 - 1969||50.4|
|1939 or Older||1.1|
|TYPE OF Fort Walton Beach HOMES|
|Small Apt. Buildings||9.7|
|SIZE OF Fort Walton Beach HOMES|
|5 or more bedrooms||2.32|
|Time Period||Total Appreciation||Avg. Annual Rate||
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
2000 Q1 - 2016 Q3
|* 10 is highest|