Okaloosa County, Florida: commercial real estate data.
Okaloosa County, Florida had an estimated 220,483 residents on July 1, 2024, up 4.2 percent since the 2020 census base of 211,662, across 930 square miles. County output reached $19.00 bn in 2024, 6,011 establishments operate here, and the SBA record carries 220 7(a) approvals worth $160.8 m since FY2020.
Underlined figures are computed by MMCG Analytics, not published by the agency.
Okaloosa County
How many people live in Okaloosa County
- Population, American Community Survey 2020-2024216,599
- Households85,411
- Average household size2.54
- Median household income$81,998
- Median age37.4
- Median gross rent$1,612 per month
- Median owner-occupied home value$351,200
- Home value to household income4.3 times
- Annual rent as a share of median income23.6 percent
- Adults 25 and over with a bachelor degree or higher34.8 percent
- Adults 25 and over with a graduate degree13.8 percent
- Adults 25 and over149,498
- Population under 1848,926
- Share under 1822.6 percent
- Population 65 and over36,047
- Share 65 and over16.6 percent
- Working age population, 18 to 64131,626
- Civilian labor force99,458
- Unemployment rate3.8 percent
- Labor force participation, adults 18 and over59.3 percent
- Rank by population among Florida counties26th of 67
- Rank by population among US county-equivalents, Puerto Rico included324th of 3,222
Okaloosa County is the 26th largest of 67 Florida counties by population. A median home costs 4.3 times median household income, which is seriously unaffordable by national standards. Residents under 18 outnumber those 65 and over, at 22.6 percent against 16.6 percent, a household formation profile rather than a retirement one.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Okaloosa County
Is Okaloosa County's population growing?
- Population, July 1, 2024220,483
- Census 2020 base population211,662
- Population change since the 2020 census base4.17 percent
- Population change, 2023 to 2024859
- Births, 20242,553
- Deaths, 20242,024
- Natural change, 2024529
- Net domestic migration, 2024-1,847
- Net international migration, 20242,180
- Total net migration, 2024333
- Cumulative net domestic migration, 2021 to 20241,251
- Rank by growth among US county-equivalents658th of 3,144
The county has grown 4.17 percent since the 2020 census base. The population grew in 2024 from both sources: births exceeded deaths and more people moved in than left.
US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
Okaloosa County
Where are people moving to Okaloosa County from?
- Tax returns filed by households arriving10,379
- People arriving, from those returns19,697
- Tax returns filed by households leaving9,357
- Net household movement1,022
- Adjusted gross income arriving$826.8 m
- Net adjusted gross income movement$115.8 m
- Average income of an arriving household$79,663
- Average income of a leaving household$75,991
- Largest single originSanta Rosa County (600 households)
- Largest single destinationSanta Rosa County (849 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Santa Rosa County | 600 | 1,048 | $40.1 m |
| Walton County | 561 | 1,026 | $54.3 m |
| Foreign - APO/FPO ZIPs | 464 | 1,040 | $28.6 m |
| Escambia County | 308 | 520 | $16.6 m |
| Bay County | 136 | 221 | $7.5 m |
| Cumberland County | 123 | 257 | $7.4 m |
| Bexar County | 121 | 286 | $9.7 m |
| Hillsborough County | 119 | 229 | $7.7 m |
Households arriving report $3,672 more average income than households leaving, so the migration is raising local spending power rather than just moving it around. The largest single source of arrivals is Santa Rosa County, which is the catchment a retail or multifamily study should look at first.
US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Okaloosa County
What is the Okaloosa County economy?
- County GDP, 2024$19.00 bn
- County GDP, 2023$18.16 bn
- GDP change, 2023 to 20244.6 percent
- GDP change over five years38.4 percent
- Rank by GDP among the Florida areas BEA publishes21st of 67
- Rank by GDP among the US county areas BEA publishes272nd of 3,127
- GDP per resident$87,734
Output grew 4.6 percent in the latest year and 38.4 percent over five, which is the trend line a lender will read behind any single year figure.
US Bureau of Economic Analysis, Regional, table CAGDP2, CAGDP2, through 2024.
Okaloosa County
Employment by industry in Okaloosa County
- Covered employment, annual average89,705
- Establishments reporting7,597
- Average annual pay$61,616
- Average weekly wage$1,185
- Accommodation and food services, employment13,613
- Accommodation and food services, average annual pay$30,470
- Retail trade, employment12,354
- Retail trade, average annual pay$38,773
- Professional, scientific and technical services, employment11,007
- Professional, scientific and technical services, average annual pay$102,468
- Health care and social assistance, employment10,033
- Health care and social assistance, average annual pay$58,492
- Administrative and support and waste management services, employment4,540
- Construction, employment4,314
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Accommodation and food services | 13,613 | 735 | $30,470 |
| Retail trade | 12,354 | 886 | $38,773 |
| Professional, scientific and technical services | 11,007 | 1,102 | $102,468 |
| Health care and social assistance | 10,033 | 776 | $58,492 |
| Administrative and support and waste management services | 4,540 | 572 | $52,101 |
| Construction | 4,314 | 830 | $58,651 |
| Other services, except public administration | 2,880 | 536 | $46,634 |
| Manufacturing | 2,802 | 194 | $85,647 |
Accommodation and food services is the largest private sector at 13,613 jobs, 15.2 percent of covered employment.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Okaloosa County
How many businesses are in Okaloosa County?
- Establishments, all industries6,011
- Employment at those establishments64,766
- Annual payroll$3.22 bn
- Establishments per 1,000 residents27.8
These are counts of establishments physically operating in the county, not listings, so they are the supply side a feasibility study measures demand against. County Business Patterns counts private establishments with paid employees in March 2023, while the Quarterly Census of Employment and Wages above counts every unemployment-insured employer, public ones included, as a 2024 annual average, so the two establishment and employment counts differ.
US Census Bureau, County Business Patterns, 2023.
Okaloosa County
Building permits in Okaloosa County
- Housing units authorized by permit, 20241,268
- Declared construction value permitted$356.5 m
- Single family units authorized1,053
- Multifamily units authorized215
- Multifamily share of units17.0 percent
- Average declared value per unit$281,133
- Units authorized per 1,000 households14.8
Single-family homes are 83.0 percent of units authorized, so the pipeline is predominantly single-family.
US Census Bureau, Building Permits Survey, 2024 annual.
Okaloosa County
SBA loans in Okaloosa County (7(a) and 504)
- 7(a) approvals recorded220
- 7(a) gross approval dollars$160.8 m
- Average 7(a) approval$731,035
- Median 7(a) approval$307,500
- 10th percentile approval$38,280
- 90th percentile approval$2,046,600
- Largest single approval$5,000,000
- Jobs reported supported, 7(a)2,954
- Jobs per approval13.4
- Distinct 7(a) lenders active61
- Distinct industries receiving approvals95
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer14.5 percent
- Loans on real estate terms32
- Loans on working capital terms, 120 months or shorter166
- Franchise loans64
- Franchise share of approvals29.1 percent
- Leading industry by approval countFull-Service Restaurants (14)
- Most active lenderThe Huntington National Bank (23)
- 504 approvals recorded106
- 504 gross approval dollars$75.0 m
- Average 504 approval$707,509
- Median 504 approval$396,500
- Distinct CDCs active5
- 504 jobs per approval7.4
- 504 jobs per million dollars approved10.5
- Most active CDCFlorida Business Development Corporation (54)
- Combined SBA approval dollars, 7(a) FY2020 to FY2026 and 504 FY2010 to FY2026$235.8 m
The average approval of $731,035 sits well above the median of $307,500, pulled up by a few larger deals, so the median is the better guide to what a typical borrower here gets. Only 14.5 percent of approvals run on real estate terms, so SBA credit here is mostly working capital and equipment rather than property acquisition.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30. US Small Business Administration, 504 FOIA release, FY2010 to FY2026 year to date, as of 2026-06-30.
Okaloosa County
SBA loan default and charge-off rates in Okaloosa County
Do SBA loans in Okaloosa County get paid back?
- Loans with a final outcome recorded39
- Paid in full39
- Charged off0
- Charge-off rate on resolved loans0.0 percent
- Status: Exempt from disclosure149
- Status: Paid in full39
- Status: Cancelled23
- Status: Committed, not yet disbursed9
Of the 39 loans that have reached a final outcome, 0.0 percent were charged off. This is computed only over resolved loans, because a loan still running has not yet succeeded or failed and counting it either way would be wrong.
Compare against the national and state SBA charge-off rates, computed the same way over resolved loans only.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Okaloosa County
SBA lending by place in Okaloosa County
- Borrower cities with recorded lending15
- Destin, approvals68
- Fort Walton Beach, approvals60
- Niceville, approvals31
- Crestview, approvals30
- Mary Esther, approvals9
- Valparaiso, approvals5
| Borrower city | Approvals | Gross approval dollars |
|---|---|---|
| Destin | 68 | $48,213,400 |
| Fort Walton Beach | 60 | $39,985,100 |
| Niceville | 31 | $22,327,100 |
| Crestview | 30 | $28,523,900 |
| Mary Esther | 9 | $7,317,400 |
| Valparaiso | 5 | $4,971,000 |
| Baker | 5 | $895,400 |
| Shalimar | 4 | $5,226,000 |
| 7 other borrower cities | 8 | $3,368,500 |
Destin accounts for 68 approvals against 60 in Fort Walton Beach. County level figures average over that gap, which is why a site decision is made at the submarket rather than the county.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Okaloosa County
How large is Okaloosa County?
- Land area930 sq mi
- Rank by land area among Florida counties19th of 67
- Width, east to west24.5 mi
- Height, north to south42.7 mi
- Geographies sharing a boundary4
- Residents per square mile of land233
- Establishments per square mile6.46
US Census Bureau county boundary geometry, TIGER, adjacency computed from shared boundary vertices, TIGER county boundaries. US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year. US Census Bureau, County Business Patterns, 2023.
Okaloosa County
Flood risk in Okaloosa County
- Participation of the county's own NFIP community Okaloosa County, unincorporated areasParticipating, community 120173
- Community Rating System class of the county's own communityClass 5
- Communities in the county in the NFIP Community Status Book10
- Of those, participating in the NFIP10
- NFIP participation rate100.0 percent
- Best Community Rating System class in the county A lower CRS class is a larger flood insurance premium discount.Class 5
- Communities carrying a CRS class7
- Radon levels in Okaloosa County, EPA zone predicted average indoor radon screening level less than 2 pCi/LZone 3
The county's own community in the status book, unincorporated Okaloosa County (community 120173), participates in the National Flood Insurance Program and carries Community Rating System class 5, a flood insurance premium discount for policies written there. The EPA places Okaloosa County in radon zone 3, a predicted average indoor radon screening level less than 2 pCi/L. The zone is a screening prediction for the county and does not substitute for a test at an address. The best Community Rating System class among the county's communities is 5, which carries a flood insurance premium discount for policies written in that community. 100.0 percent of the county's listed communities participate in the National Flood Insurance Program, per Federal Emergency Management Agency, NFIP Community Status Book (OpenFEMA), as of 2026-09-26.
Federal Emergency Management Agency, NFIP Community Status Book (OpenFEMA), as of 2026-09-26. US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Coverage
What this page does not hold.
Traffic counts, zoning and the flood zone at an address are not on this page; they resolve at the address in the platform. How this page was built →
Feasibility studies
When a Okaloosa County site needs a document a lender will accept.
The same data layer behind this page is the one the studies are written from. A study for a Okaloosa County site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population, American Community Survey 2020-2024216,599
- Households85,411
- Average household size2.54
- Median household income$81,998
- Median age37.4
Common questions
Okaloosa County questions, answered from the record.
How many people live in Okaloosa County, Florida?
The Census Bureau estimates 220,483 residents on July 1, 2024 (US Census Bureau, Population Estimates Program, Vintage 2024). The American Community Survey 2020-2024 five-year estimate is 216,599, in 85,411 households, ranking 26th of 67 Florida counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Okaloosa County's population growing?
The population has grown 4.17 percent since the 2020 census base of 211,662, to 220,483 on July 1, 2024. In 2024 there were 2,553 births against 2,024 deaths, with net migration of 333. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Okaloosa County?
$81,998. The median owner-occupied home is valued at $351,200, which is 4.3 times income, and median gross rent is $1,612 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are in Okaloosa County?
6,011 establishments, employing 64,766 people with an annual payroll of $3.22 bn. These are establishments physically operating in the county, not listings. Source: US Census Bureau, County Business Patterns, 2023.
What is employment by industry in Okaloosa County?
Accommodation and food services is the largest private sector at 13,613 jobs, 15.2 percent of covered employment. Covered employment averages 89,705 jobs at an average annual pay of $61,616, or $1,185 a week. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in Okaloosa County?
220 7(a) approvals totaling $160.8 m since FY2020, across 61 lenders, with a median approval of $307,500, plus 106 504 approvals worth $75.0 m since FY2010. These are approvals recorded in the release, not loans disbursed.
Do SBA loans in Okaloosa County get paid back?
Of the 39 loans that have reached a final outcome, 39 were paid in full and 0 charged off, a charge-off rate of 0.0 percent. Loans still running are excluded, because they have not yet succeeded or failed.
How many building permits were issued in Okaloosa County?
1,268 housing units were authorized by permit in 2024, with a declared construction value of $356.5 m. Multifamily was 17.0 percent of units. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for Okaloosa County?
Zone 3, a predicted average indoor radon screening level less than 2 pCi/L. Source: US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Where do people moving to Okaloosa County come from?
The largest single origin is Santa Rosa County, with 600 households. Arriving households report an average income of $79,663 against $75,991 for those leaving. Source: US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Are traffic counts available for Okaloosa County on this page?
No. Annual average daily traffic resolves in the platform rather than in this dataset, so no AADT figure is printed here. It is a gap we know about rather than a figure we estimated.
Is zoning published for Okaloosa County?
No. Nothing on this page presents parcel level zoning, and where a statutory framework applies it is marked as the statewide frame, to be confirmed locally.
Okaloosa County
Cities and places in Okaloosa.
14 Census places lie wholly or partly in Okaloosa County. All 14 carry enough published place level data for a page of their own and are linked.
| Place | Type | Population | SBA 7(a) approvals, projects in this county | Lies in |
|---|---|---|---|---|
| Crestview | city | 28,773 | 30 | Wholly in this county |
| Wright | CDP | 27,927 | None recorded | Wholly in this county |
| Fort Walton Beach | city | 21,025 | 60 | Wholly in this county |
| Niceville | city | 16,544 | 31 | Wholly in this county |
| Destin | city | 14,077 | 68 | Wholly in this county |
| Lake Lorraine | CDP | 6,903 | None recorded | Wholly in this county |
| Ocean City | CDP | 5,941 | None recorded | Wholly in this county |
| Valparaiso | city | 4,885 | 5 | Wholly in this county |
| Mary Esther | city | 4,061 | 9 | Wholly in this county |
| Hurlburt Field | CDP | 2,951 | 1 | Wholly in this county |
| Eglin AFB | CDP | 2,778 | None recorded | Wholly in this county |
| Shalimar | town | 885 | 4 | Wholly in this county |
| Cinco Bayou | town | 609 | None recorded | Wholly in this county |
| Laurel Hill | city | 355 | 1 | Wholly in this county |
A further 11 of the county's 220 SBA 7(a) approvals are to borrowers in cities that match no Census place in Okaloosa County, the largest being Baker (5), Holt (2), Saint Petersburg (1). Those are postal cities, unincorporated areas and cities outside the county, so no place row claims them; they are counted in the county total above.
Nearby