Two very distinct markets separated by the expansive lands of Eglin Air Force Base, both the Crestview and Niceville-Valparaiso markets have grown and thrived due to their relationship with Eglin. Primary housing markets that are home to a significant number of military retirees and an expanding professional services sector that is related to the large private sector research & development, engineering and technology services that have grown up around Eglin’s combat training and air armaments missions, these markets are poised for significant future growth.
Expanding infrastructure and the excellent transportation network in place (Interstate 10, Northwest Florida Regional Airport) underscore these markets’ importance to the region’s economic health, and promote their position as significant anchors to their coastal neighbors of Destin and Fort Walton Beach.
20,978 (Crestview), 17,785 (Niceville/Valparaiso)
7,319 (Crestview), 6,945 (Niceville/Valparaiso)
9,153 (Crestview), 7,634 (Niceville/Valparaiso)
Median Household Income:
$47,306 (Crestview), $66,658 (Niceville Only)
Market Conditions (January 2013)*
Retail Market Inventory/Vacancy Rate/Rental Rate/Annual Net Absorption:
3.0 MSF / 5% vacant / $9.49 per SF / -50,810 SF
Office Market Inventory/Vacancy Rate/Rental Rate/Annual Net Absorption:
1.2 MSF/8% vacant/$15.56 per SF / -40,582 SF
Industrial/Flex Market Inventory/Vacancy Rate/Rental Rate/Annual Net Absorption:
2.1 MSF/4% vacant/$6.60 per SF / -14,559 SF
*Statistics are for the combined markets; includes owner-occupied.
Major Area Employers
|L3 Crestview Aerospace||Eglin Air Force Base||Jacobs TEAS|