Search
Close this search box.

Okaloosa Rental Market Update: Rent prices expected to stabilize amid supply issues

The rental market in Okaloosa County has experienced significant price increases since the onset of the COVID-19 pandemic. “While we may not be expecting prices to go down per se, we […]

The rental market in Okaloosa County has experienced significant price increases since the onset of the COVID-19 pandemic.

  • However, there is some good news on the horizon, as rental prices are expected to stabilize, according to Keith Wood, Vice President of Residential Property Management and Commercial Real Estate at ERA American Real Estate in Shalimar.

“While we may not be expecting prices to go down per se, we are expecting things to start stabilizing,” Wood said.

Despite this stabilization, tenants will still face a supply issue, forcing them to navigate multiple applications that they’re competing against. Wood explained that Okaloosa County’s rental inventory fluctuates from month to month, but as of Monday, there were about 158 available rental properties.

Wood also mentioned that military personnel in the area can impact the availability of rentals: “The availability could fluctuate because of the military getting orders and moving out before that year-to-year cycle that’s typical with a tenancy.”

The county’s rental inventory varies depending on property size. Studios and one-bedroom apartments are in particularly short supply, while larger homes are more readily available.

  • “Once you start getting up into three and four bedrooms, there’s a lot more availability and landlords have picked up on that,” said Wood.

With limited options for smaller rentals, many people are now considering finding roommates to have more options. “If you can find a roommate that fully qualifies with you and apply for a residence that accepts roommates, you may have a lot more options available to you,” Wood advised.

As for the areas with the most available inventory, the Fort Walton Beach-Mary Esther-Shalimar area is leading the way, closely followed by Crestview, according to Wood. Niceville ranks third in available inventory, while Destin is currently facing a low inventory of rental properties.

Join the conversation...

Continue reading 👇

Community Comments

“Agreed…that was our favorite spot for locals to go…under the Marler bridge…to swim and watch the boat traffic. Was beautiful!”
Respond
“I have heard this before but without the details. Thanks.”
Respond
“That was a good story it brought back a lot of good memories. I lived there about 35 years ago met some good people ate a lot of good food...”
Respond
“Please open our bridge under neath the Destin bridge please we grew up here only for the locals this is crazy honestly the locals really have Nowhere they can go...”
Respond
“We must do whatever it takes to remove the current sheriff. He is a failed leader, no doubt about it nothing but an excuse maker, totally incompetent in over his...”
Respond
“...and food for enjoyment! Big smile.”
Respond
“can okaloosa county residents can get a year pass for henderson beach park?”
Respond
“Congratulations on giving back to your community. This is an awesome need when young people are returning to school. Blessings over blessings to you this upcoming season.”
Respond
“I’m not at all a sociallist or liberal. I just want safety for myself and others. Ron Desantis pledged money for this. I was refrencing Europe in regards to e-bike...”
Respond