The story of this market
The typical home in ZIP 32548 sells for about $356,683, or $313 per square foot.
Prices are roughly flat from a year ago (+0.4%), a market in balance. Homes take about 79 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $1,345 a month.
ZIP 32548 — Fort Walton Beach
The housing market in 32548 is characterized by steady demand driven by military presence and coastal appeal, with prices showing modest year-over-year growth. While inventory levels remain tight, the market is balanced by a high share of price-conscious buyers and a significant rental sector. Overall, the area remains a stable investment hub despite broader economic headwinds.
This ZIP is ideal for military families, retirees, and investors looking for proximity to the Gulf Coast and stable rental demand.
Median prices moved up 0.4% year over year.
Homes spend a median of 79 days on market with 9.0 months of supply — a slower-moving market.
25% of listings have cut prices · homes sell at 98% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 3.6% · poverty 15.1% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 5.8%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
in-migration and out-migration balanced
ZCTA 32548, Okaloosa County FL
Schools in the area are generally rated as average to above-average, serving the Fort Walton Beach community within the Okaloosa County School District.
The area faces significant wind and flood risks due to its coastal location on the Gulf of Mexico, necessitating robust property insurance coverage.
Economic momentum is driven by the nearby Eglin Air Force Base and the broader tourism-based economy of the Emerald Coast.
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.
Commutes are primarily car-dependent, with major corridors providing access to local employment hubs in Fort Walton Beach and nearby military installations.
The area features extensive access to Gulf beaches, waterfront parks, and boating facilities, alongside local shopping and dining districts.
The rental market is highly active due to the transient nature of military personnel and seasonal tourism, keeping vacancy rates relatively low.
The economy is anchored by the defense sector, specifically Eglin Air Force Base, and a robust tourism and hospitality industry.
Transportation relies on highway infrastructure, with limited public transit options available for regional commuting.
Development is focused on coastal infrastructure and residential infill projects within the established Fort Walton Beach footprint.
The Okaloosa County Property Appraiser manages assessments, focusing on market value adjustments for coastal and inland properties.
Parcels are subject to Okaloosa County School District taxes and various municipal utility and fire district assessments.
Property insurance premiums are elevated due to hurricane and windstorm exposure, with Citizens Property Insurance serving as a common provider.
Data derived from Census Bureau ZCTA-level tables and Okaloosa County market reports.
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 major coastal destination featuring public beaches and fishing piers.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.