ZIP 32548

32548 is one of 13 ZIP codes that lie mostly in Okaloosa County, FL.

Shaded by typical home value, it ranks 4 of the 11 with a value.

10 school locations in 32548: 2 elementary, 2 middle, 6 high.

In alphabetical order: ANNETTE P. EDWINS ELEMENTARY SCHOOL, ELLIOTT POINT ELEMENTARY SCHOOL, FORT WALTON BEACH HIGH SCHOOL, LIZA JACKSON PREPARATORY SCHOOL, and more on the ZIP page. Locations only — no ratings are shown here.

In May 2002 the typical home in 32548 was worth $118,728.

Values peaked at $360,614 in August 2022. The latest reading is −6.6% from that peak.

As of August 2026: $336,648, +1.4% over twelve months.

Start with the typical home: $336,648. Put 20% down and borrow $269,318 at 7.40%, the 30-year fixed average as of October 8, 2026.

That is $1,865 a month in principal and interest.

The median household here earns $63,857 a year, $5,321 a month. So the payment takes 35.0% of income — rated “stretched” (Lotvox ZIP bands: under 28% affordable · 28–36% stretched · 36%+ severe).

The line holds today's rate fixed and moves only the price: at that rate, the same share was 12.4% in 2002.

Take the typical home's price each month, borrow 80% at that month's actual 30-year average rate: in May 2002 (6.81%) the payment was $620.

In December 2020, with rates at 2.68%, it was $885.

By August 2026, at 6.67%, it was $1,732 — +96% since December 2020, while the home's value moved +23%.

Reported values rose +184% since May 2002.

General prices (CPI-U) rose +86% over the same span.

Divide one by the other: in August 2026 dollars, the 2002 home was worth $221,007. So the real change is +52%, not +184%.

32548: +184% since May 2002.

Okaloosa County: +168% since May 2002.

Florida: +186% since May 2002 — 32548 ran behind it by 2 points.

Owning the typical home costs about $2,201 a month once taxes and insurance (estimated at 1.2% of price a year) are added. Renting runs about $1,812 a month.

Price divided by a year's rent: 15.5. Lotvox reads under 15 as favoring buying and 20 or more as favoring renting.

Picture the Listings Flow Ladder as a basin: new listings pour in from the faucet, the homes for sale are the water, and closed sales run out the drain. Coming in — new listings: about 57 a month (Redfin, 3-month rolling data through August 2026). That is 112% of the 2015–2019 level for the same months.

On the shelf — homes for sale at the end of the period: 273. That is 134% of the 2015–2019 level for the same months.

Going out — closed sales: about 37 a month. That is 69% of the 2015–2019 level for the same months. The drain is drawn 46% narrower: the share of homes for sale that sell each month is 54% of its 2015–2019 level.

The ladder: homes for sale ÷ monthly sales = 7.4 months of supply — above the 4–6 month balanced range. In the basin, that is the water level against the shaded balanced band.

The net reading: about 20 more homes came on than sold each month, so inventory is growing. The basin is filling.

Homes sold: about 37 a month in August 2026 (Redfin).

The 2015–2019 level for the same month was 55 — so sales ran at 67% of it, and below it in 24 of the last 24 months.

Across Okaloosa County, builders pulled permits for 1,057 new homes in 2025.

Of those, 93% were in 1-unit buildings (the Census Bureau's category for detached and attached single homes).

This ZIP sits in Okaloosa County. IRS tax returns for 2022-2023: among the ten counties sending the most households, 2,185 moved in. Among the ten receiving the most, 2,928 moved out.

Net across those counties: −743 households. Beside it, homes for sale in this ZIP: 273 in June 2026.

Most arrivals came from Santa Rosa, FL (584 households); most departures went to Walton, FL (860).