Crestview–Fort Walton Beach–Destin
The Crestview–Fort Walton Beach–Destin corridor held relatively steady in Q1 2026, buoyed by military employment at Eglin AFB and a more constrained rental supply pipeline compared to coastal metros.
Historical Trends — 9 Quarters
Average asking rent ($/mo) and vacancy rate (%) — Q2 2024 through Q2 2026
- Vacancy %
- Avg Rent
* Figures are modeled estimates based on Florida Realtors, Apartment List, RealPage, and Zillow ZORI data. Q2 2026 reflects preliminary estimates. For research and informational purposes only.
Crestview–Fort Walton Beach–Destin — Q1 2026 Rental Market Report
The Panhandle's Okaloosa County MSA demonstrated relative stability in Q1 2026 compared to Florida's more supply-heavy metros. The area benefits from a large, steady military tenant base anchored by Eglin Air Force Base and Hurlburt Field, which insulates the market from some of the volatility seen in South and Central Florida.
Key Metrics — Q1 2026
- Average monthly rent (estimated): ~$1,400–$1,600
- Year-over-year rent change: Modest decline, estimated −2% to −4% in line with statewide trend
- Florida statewide context: Rents fell ~3% year-over-year in March 2026 (Florida Realtors / Apartment List)
Market Conditions
New multifamily construction in this corridor has been more limited than in larger Florida metros, meaning vacancy pressure is more contained. The seasonal tourism economy in Destin creates a dual market — short-term vacation rentals remain strong, while long-term apartment demand is steadied by the military workforce. Landlords offering 12-month leases to BAH-eligible service members continue to experience low vacancy.
Outlook for Landlords
The market is more balanced here than statewide. Modest softening in rents is expected to continue through mid-2026 as national trends weigh on asking prices, but the military demand floor provides meaningful downside protection.
Sources: Florida Realtors (April 2026), Apartment List National Rent Report (March 2026), Florida Housing Data Clearinghouse.