Fort Walton Beach, FL

Average · 91

Florida · Population 20,956 · Updated March 2026

$1,268
Median Rent / Month
$66,556
Median Income
$296,000
Median Home Value
$1,262
Owner Costs / Month

Affordability

How far your income goes in Fort Walton Beach

22.9%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Florida

State-level tax rates that affect your costs

0%
Income Tax (Top Rate)
6.0%
Sales Tax
0.86%
Property Tax Rate

Estimated Annual Costs

$15,216
Annual Rent
$0
State Income Tax
$2,546
Property Tax (est.)

Cost of Living Overview

Fort Walton Beach offers a below-average cost of living, giving residents more purchasing power compared to many US cities. With a cost index of 91 (where 100 equals the national median), Fort Walton Beach residents can expect to pay median rent of $1,268/month while earning a median household income of $66,556/year.

The median home value in Fort Walton Beach, FL is $296,000, with typical monthly owner costs around $1,262 including mortgage, insurance, and taxes. The median rent-to-income ratio of 22.9% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Florida has no state income tax, which can represent significant savings compared to high-tax states. Combined with a 6.0% sales tax rate and 0.86% effective property tax rate, the overall tax environment helps keep costs manageable in Fort Walton Beach.

Frequently Asked Questions

Common questions about living costs in Fort Walton Beach

What is the cost of living in Fort Walton Beach, FL?
The cost of living index in Fort Walton Beach, FL is 91 (US average = 100). Median monthly rent is $1,268, median household income is $66,556/year, and the median home value is $296,000.
Is Fort Walton Beach, FL affordable?
Yes, Fort Walton Beach is more affordable than the national average with a cost index of 91. The rent-to-income ratio is 22.9%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Fort Walton Beach, FL?
The median gross rent in Fort Walton Beach, FL is $1,268 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $15,216.
What is the median household income in Fort Walton Beach?
The median household income in Fort Walton Beach, FL is $66,556 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Florida?
Florida has a top income tax rate of 0%, a sales tax of 6.0%, and an effective property tax rate of 0.86%. Notably, there is no state income tax.