The story of this market
The typical home in ZIP 32547 sells for about $306,500, or $176 per square foot.
Prices are roughly flat from a year ago (+0.49%), a market in balance. Homes take about 71 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $1,611 a month.
ZIP 32547 — Fort Walton Beach
The Crestview housing market is currently showing signs of stability with a median sale price of $306,500 and a moderate pace of sales. While inventory remains tight, the market is balanced by steady demand from buyers seeking value outside of the immediate coastal areas. Current conditions favor sellers, though price growth remains modest compared to previous years.
This area is well-suited for families and commuters seeking more affordable housing options compared to the immediate coastal markets, while still maintaining access to regional employment hubs.
Median prices moved up 0.5% year over year.
Homes spend a median of 71 days on market with 4.2 months of supply — a balanced-paced market.
35% of listings have cut prices · homes sell at 98% of asking — demand is holding steady.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 3.4% · poverty 13.3% — a stable, low-distress profile.
versus the prior ACS vintage
in-migration and out-migration balanced
ZCTA 32547, Okaloosa County FL
Schools in the Crestview area are generally characterized by moderate performance ratings within the Okaloosa County School District.
The area faces standard Florida risks including hurricane-related wind exposure and localized flooding, necessitating comprehensive property insurance.
Crestview serves as a growing hub in Okaloosa County with ongoing residential development and infrastructure expansion to support its role as a regional bedroom community.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (Florida) — Statewide Uniform Property Tax Lien Priority & Tax Deed Sale Enforcement: Unpaid real ad valorem and non-ad valorem taxes become a first-priority sovereign lien on January 1 of the tax year, superior to all mortgages and private liens. If unpaid by April 1 following the tax year, tax certificates are sold via competitive bidding under § 197.432. State (Florida) — Community Development District (CDD) Special Assessment & Financing Lien Mandate: Binds the parcel to non-ad valorem assessments levied directly by the CDD board to fund infrastructure bonds (capital assessments) and operations/maintenance (O&M assessments). State (Florida) — Florida Constitutional Homestead Exemption & Save Our Homes (SOH) Assessment Cap: Reduces taxable value by up to $50,000: base $25,000 exemption applies to all taxing authorities (including school districts); second $25,000 exemption applies to assessed value between $50,000 and $75,000 for non-school millage. State (Florida) — Florida Ad Valorem Real Property Assessment & Tax Mechanics: Parcels are assessed annually at 100% just value (market value) as of January 1 by county property appraisers. Tax formula: Tax Bill = (Taxable Value / 1,000) * Total Levied Millage Rate. Assessed Value = Just Value - Assessment Limitations.
Residents primarily rely on personal vehicles for commuting, with access to major corridors like State Road 85 providing routes toward Eglin Air Force Base and the Gulf Coast employment centers.
The area features local parks, community sports facilities, and proximity to regional outdoor amenities, with basic retail and dining options concentrated along the main commercial arteries.
The rental market shows steady demand with a median rent of $1,900, reflecting a stable trajectory and moderate vacancy pressure.
The local economy is heavily influenced by the nearby military installations, including Eglin Air Force Base, alongside retail, healthcare, and service-sector employment.
Transportation is primarily highway-dependent, with State Road 85 serving as the primary artery connecting the city to the broader Okaloosa County region.
Ongoing residential subdivision development continues to expand the city's footprint, particularly in the northern and eastern sectors.
The Okaloosa County Property Appraiser manages assessments, ensuring properties are valued at fair market value for tax purposes.
Parcels are subject to Okaloosa County School District taxes and various municipal service assessments.
Property insurance premiums in the region are influenced by Florida's statewide hazard exposure, with a focus on wind and storm coverage.
Data retrieved from US Census Bureau ZCTA profiles.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
A central community park featuring walking paths and recreational facilities.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.