The typical owner-occupied home in Okaloosa County is worth about $351,200, about the same as the Florida median of $359,000 and 6% above the national median of $332,700. Owners pay a median $2,011 a year in property taxes, about 0.57% of their home's value, lower than the Florida rate of 0.76%. The median household earns $81,998 a year, so the median home costs 4.3 times the median income (4.8 times for Florida). 68% of occupied homes here are lived in by their owners, and 61% of those owners still have a mortgage.
Okaloosa County at a glance
| Okaloosa County | Florida | U.S. | |
|---|---|---|---|
| Median home value | $351,200 | $359,000 | $332,700 |
| Median property tax paid per year | $2,011 | $2,730 | $3,119 |
| Property tax as a share of value | 0.57% | 0.76% | 0.94% |
| Median household income | $81,998 | $74,568 | $80,734 |
| Homes lived in by their owners | 68% | 68% | 65% |
| Owner homes with a mortgage | 61% | 56% | 61% |
| Median monthly costs, owners with a mortgage | $1,937 | $1,959 | $1,963 |
| Those costs as a share of the owners' income | 22.1% | 23.6% | 21.0% |
| Median rent | $1,612 | $1,669 | $1,413 |
| Rent as a share of renters' income | 31.9% | 35.2% | 30.6% |
| Median year homes were built | 1990 | 1988 | 1980 |
| Vacant homes | 17.8% | 14.7% | 10.1% |
| Population | 216,599 | 22,416,077 | 334,922,499 |
What a typical home costs per month in Okaloosa County
At this week's average 30-year rate of 7.11%, buying the median Okaloosa County home of $351,200 with 20% down costs about $2,203 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,788, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $94,422 for the 20%-down payment. That payment is 32% of the median Okaloosa County household income of $81,998; at that income and 20% down, the 28% guideline points to a home of about $305,000.
The median rent here is $1,612 a month, so owning the median home costs about $591 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $70,240 |
|---|---|
| Loan amount | $280,960 |
| Principal and interest | $1,890 |
| Property taxes (0.57% a year) | $167 |
| Homeowners insurance (our estimate, 0.5% a year) | $146 |
| PMI | $0 |
| Total per month | $2,203 |
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| Down payment | $12,292 |
|---|---|
| Loan amount | $344,839 |
| Principal and interest | $2,320 |
| Property taxes (0.57% a year) | $167 |
| Homeowners insurance (our estimate, 0.5% a year) | $146 |
| FHA mortgage insurance | $155 |
| Total per month | $2,788 |
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Questions about home buying in Okaloosa County
What is the median home value in Okaloosa County?
About $351,200 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Okaloosa County?
Homeowners pay a median $2,011 a year, which is about 0.57% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Okaloosa County?
For the median home with 20% down at 7.11%, the payment is about $2,203 a month. Keeping that under 28% of gross income takes about $94,422 a year.
More about Okaloosa County
- Mortgage Refinance in Okaloosa County
- Debt Relief in Okaloosa County
- Home Equity Loans in Okaloosa County
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data