Located in Okaloosa County, a metropolitan statistical area with a population of approximately 200,000, the Destin/Fort Walton Beach markets are defined by the famous beaches that are a major Southeastern US tourist destination, and are anchored economically by the 700-sq. mile Eglin Air Force Base, one of the largest military reservations in the world. With large tourism-hospitality services and real estate industry sectors, the affluent market is home to high-end destination retail, golf course communities and beachfront condominiums, and a rapidly growing medical and professional office segment.
14,883 (Destin), 19,507 (Ft. Walton)
6,917 (Destin), 8,460 (Ft. Walton)
12,237 (Destin), 9,592 (Ft. Walton)
Implied Seasonal Population*:
42,830 (Destin), NA (Ft. Walton)
Median Household Income:
$65,650 (Destin), $46,974 (Ft. Walton)
*Based on 3.5 person avg. size group in vacation/2nd home housing units.
Market Conditions (January 2013)*
Retail Market Inventory/Vacancy Rate/Rental Rate/Annual Net Absorption:
11.8 MSF / 6% vacant / $13.19 per SF / 161,374 SF
Office Market Inventory/Vacancy Rate/Rental Rate/Annual Net Absorption:
4.0 MSF / 10% vacant / $13.05 per SF / 115,723 SF
Industrial/Flex Market Inventory/Vacancy Rate/Rental Rate/Annual Net Absorption:
4.5 MSF / 6% vacant / $6.70 per SF / 56,107 SF
*Destin/Fort Walton combined, and includes Mary Esther, Shalimar and Miramar Beach; includes owner-occupied.
Major Area Employers
|Eglin Air Force Base||Boeing||Ft Walton Beach Medical Ctr|
|Lockheed Martin||L-3 Communications||BAE Technical Services|
|DRS Training & Control Systems||InDyne, Inc.||ResortQuest|