Fort Walton Beach
RANK #725 / 996 NAT · #14 / 41 FL · POP 212,021
1YR FORECAST: -0.8%
5YR OUTLOOK: +18%
Okaloosa County, Florida, is distinguished by its "sugar-white" sand beaches and emerald-green waters, particularly around Destin, known as the "World's Luckiest Fishing Village." Located in the Florida Panhandle, it is approximately an hour's drive east of Pensacola. The community offers a blend of bustling beach towns and quieter inland areas like Crestview, which serves as the county seat. Commuting within the county is facilitated by major highways and the Emerald Coast Rider public transit system, which includes bus and trolley services. Outdoor recreation is a significant draw, with opportunities for fishing, boating, kayaking, and hiking in numerous county parks, state parks like Henderson Beach State Park, and along rivers such as the Blackwater, Yellow, and Shoal.
Life in Okaloosa County is shaped by its natural amenities and a strong military presence, with Eglin Air Force Base being a major influence. The area attracts families and young professionals, partly due to its highly rated public schools. The economy is experiencing growth, driven by new investments in sectors like aviation manufacturing and other industries, particularly in the northern part of the county. This economic development is supported by a skilled workforce, including military members transitioning to civilian careers.
Below national median (4.7x)
Below national median
Prices declining
Moderate climate & terrain
Below national median (13x)
Housing is fairly valued at 4.2x relative to local economic output. The typical U.S. county is 4–6x.
Estimated local headcount ranges. Larger employers shown as floor + "+"; smaller employers show exact counts where reported.
Source: Redfin · Census BPS — Browse sales on Redfin →
Source: CDC/NCHS vital statistics via County Health Rankings (2020–2022 avg). Rates per 100,000 population. Grade based on homicide rate relative to national average (~6.3). Learn more →
Source: EPA Air Quality System (2021–2023). Grade based on 3-year average median AQI. Learn about AQI →
| PROJECT | AMOUNT | STATUS |
|---|---|---|
|
Williams International Aviation Gas Turbine Engine Manufacturing Facility
Williams International
|
$1,000M | Under Construction |
|
LiveOak Fiber Optic Network
LiveOak Fiber
|
$100M | Under Construction |
|
FPL Canoe Solar Energy Center
Florida Power & Light (FPL)
|
$74M | Under Construction |
|
Central Moloney, Inc. (CMI) Manufacturing Facility
Central Moloney, Inc. (CMI)
|
$50M | Under Construction |
Source: public records, news, corporate announcements. Amounts are estimates where noted.
Bars show percentile rank among all 996 counties.
At 27/100, Okaloosa County faces headwinds that place it in the lower third of the 996 counties we track. Median income of $73,988 combined with job growth of -0.7% suggests the local economy is struggling to keep pace with national trends.
Housing in Okaloosa County is roughly in line with national affordability norms. The median home costs $295,400 and the income-to-home-value ratio sits at 0.25, with rents averaging $1,382/month. Not a bargain, but not a stretch for most local earners either.
Okaloosa County's population is growing — up +1.3% YoY — while the job market is roughly flat (employment change of -0.7%). Home values shifted -2.0% over the past year. In-migration is outpacing local hiring, which often points to remote workers or retirees driving the headcount.
There's a moderate stream of newcomers. About 3.55% of residents moved from another state, which is above average and suggests Okaloosa County has appeal as a relocation destination — though it's not among the highest-inflow counties nationally.