Cost of Living in Fort Walton Beach, FL

Population 20,956 · Florida · Data vintage 2023

Cost Index
(100 = US avg)

Page updated: April 2026 · Data vintage: 2023 ACS 5-Year

Sources: Census ACS·BLS·NOAA·EPA·Zillow · Methodology

Under 25,000 residents gives Fort Walton Beach a small-town character that shows up in every data point below — from the commute patterns to the rental inventory. A typical home runs $296,000.

Geographically, Fort Walton Beach lies roughly 90 miles east of the nearest major metro, Mobile. Median home values run roughly 74% higher than Mobile's $170,000.

Cost Overview

Housing 97

Rent 96

Scale: 100 = US national average. Green < 90, Red > 110.

About the Cost of Living in Fort Walton Beach

The median home value in Fort Walton Beach is $296,000 — 3% below the national median of $305,000. Median rent runs $1,268/month, 4% lower than the national median of $1,314/month. The median household income of $66,556/year is 11% lower than the US median of $74,580. The local unemployment rate is 3.9%, below the national average of 4.8%. Florida charges no state income tax, a meaningful advantage for take-home pay. Overall, Fort Walton Beach has a cost of living index of 97 versus the US average of 100, meaning it is 3% less expensive.

🏠 Housing

Median Home Value

$296,000

3% below avg

Zillow Home Value

$318,888

Zillow ZHVI

Median Rent

$1,268/mo

4% below avg

Zillow Rent

$1,816/mo

Zillow ZORI

Price-to-Rent Ratio

19.5x

Favors buying

Property Tax Rate

0.9%

Effective rate

HUD Fair Market Rents by Bedroom

Studio

$1,085

1 BR

$1,181

2 BR

$1,427

3 BR

$1,797

4 BR

$2,099

Owner-occupied 59.7%

Renter-occupied 40.3%

💰 Estimated Monthly Budget

Rent median rent

$1,268

Groceries national estimate

$400

Utilities local estimate

$88

Transportation local gas prices

$126

Estimated Total $1,882/mo

Estimates based on median data and national averages. Actual costs vary.

🛒 Food & Groceries

National BLS average prices (2023). Local prices may vary.

🥚

Eggs (dozen)

$0.548

🍞

White Bread (lb)

$1.912

🥩

Ground Beef (lb)

$5.61

🚗 Transportation

Avg Commute

23.9 min

11% below avg

Gas Price

$3.145/gal

0% below avg

Work From Home

7.8%

Commute Mode

Drove alone

78.0%

Carpooled

7.4%

Public transit

0.3%

Walked

1.8%

Bicycle

1.9%

Work from home

7.8%

⚡ Utilities

Electricity

$0.176/kWh

0% below avg

📋 Taxes

State Income Tax (flat) None

Total Sales Tax 7.0%

State rate 6.0%

Avg local rate 1.1%

Property Tax 0.9%

💼 Income & Employment

Median Household Income

$66,556

11% below avg

Per Capita Income

$37,973

Unemployment Rate

3.9%

19% below avg

Poverty Rate

13.8%

Labor Force Participation

68.3%

🎓 Education

Bachelor's degree+ 18.6%

Graduate degree 9.2%

👥 Demographics

Median Age 39.2

Male median age 37.8

Female median age 41.4

💨 Air Quality

EPA AQS 2023 — county-level monitoring data

Median AQI 37 — Good

90.5%

Good air days/yr

Max AQI recorded

PM2.5 days

234

Ozone days

🏫 Schools

NCES CCD 2019 — public school district data

90%

4-Year Graduation Rate

17.5:1

Student-teacher ratio

Public schools

32,458

Total enrollment

Frequently Asked Questions

What is the cost of living in Fort Walton Beach, FL?

Fort Walton Beach has a cost index of 97 (100 = national average). It is 3% below the national average.

What is average rent in Fort Walton Beach, FL?

The median gross rent in Fort Walton Beach is $1,268 per month based on 2023 Census data.

What is the average home price in Fort Walton Beach?

The median home value in Fort Walton Beach is $296,000 according to Zillow and Census data.

What is the median income in Fort Walton Beach?

The median household income in Fort Walton Beach is $66,556 per year (2023 ACS 5-year estimates).

What is the sales tax in Fort Walton Beach, FL?

The combined state and local sales tax rate in Fort Walton Beach is 7.0%. Florida has no state income tax.

Is Fort Walton Beach, FL affordable?

Fort Walton Beach is near the national average in terms of cost of living, with an index of 97 (100 = US average).

Fort Walton Beach at a Glance

Population: 20,956
Median Income: $66,556
Home Value: $296,000
Median Rent: $1,268/mo
Unemployment: 3.9%
Sales Tax: 7.0%

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