In Ocean City, a typical home is worth $303,900 and typical rent is $1,443 a month. Compared with all of Okaloosa County, typical household income is 28% lower, the typical home value is 13% lower, and the share of households that own their home is 11 points lower.
Ocean City is in Okaloosa County. The FHA loan limit ($603,750 for a one-unit home), the fair market rents and the help on this page are those of all of Okaloosa County. See the county
What this place has that others do not, from public data, most unusual first.
1
The typical household income in Ocean City is $59,039,28% less than in Okaloosa County as a whole ($81,998).
2
58% of households in Ocean City own their home, against 68% in Okaloosa County.
Sources: U.S. Census Bureau (Average 2020–2024).
The homes here
Housing in Ocean City
What homes there are in Ocean City, what they cost, how that changed and how people live, from Census figures (2020–2024).
What homes there are
U.S. Census Bureau, ACS 5-year, 2020–2024
Kind of home
Detached houseAttached houseBuilding of 2 to 4Apartments (5 or more)Mobile homeBoat, RV and otherUnreliable estimate
Ocean City
Okaloosa County
Florida
United States
Kind of home: Ocean City and its comparisons
Measure
Ocean City
Okaloosa County
Florida
United States
Detached house
66%
64%
55%
61%
Attached house
8%
6%
7%
6%
Building of 2 to 4
Unreliable estimate
5%
6%
8%
Apartments (5 or more)
Unreliable estimate
20%
25%
19%
Mobile home
Unreliable estimate
5%
8%
6%
Boat, RV and other
Unreliable estimate
Unreliable estimate
0%
0%
As in Okaloosa County, most homes in Ocean City are detached houses (66%).
Year built
Before 19601960–19791980–19992000–20092010 or laterUnreliable estimate
Ocean City
Okaloosa County
Florida
United States
Year built: Ocean City and its comparisons
Measure
Ocean City
Okaloosa County
Florida
United States
Before 1960
20%
6%
10%
26%
1960–1979
36%
24%
24%
24%
1980–1999
30%
36%
34%
25%
2000–2009
Unreliable estimate
18%
18%
14%
2010 or later
Unreliable estimate
15%
14%
11%
In Ocean City, half of the homes were built before 1975; in Okaloosa County, before 1990.
What it costs here
U.S. Census Bureau, ACS 5-year, 2020–2024
Value of owner-occupied homes
Unreliable estimate
Under $100KUnreliable
$100K–$200K12%
$200K–$300K34%
$300K–$500K29%
$500K–$750K13%
$750K–$1MUnreliable
$1M or moreUnreliable
Value of owner-occupied homes: Ocean City and its comparisons
Measure
Ocean City
Under $100K
Unreliable estimate
$100K–$200K
12%
$200K–$300K
34%
$300K–$500K
29%
$500K–$750K
13%
$750K–$1M
Unreliable estimate
$1M or more
Unreliable estimate
Monthly rent with utilities
Unreliable estimate
Under $500Unreliable
$500–$999Unreliable
$1,000–$1,49949%
$1,500–$1,99928%
$2,000–$2,499Unreliable
$2,500–$2,999Unreliable
$3,000 or moreUnreliable
Monthly rent with utilities: Ocean City and its comparisons
Measure
Ocean City
Under $500
Unreliable
$500–$999
Unreliable estimate
$1,000–$1,499
49%
$1,500–$1,999
28%
$2,000–$2,499
Unreliable estimate
$2,500–$2,999
Unreliable
$3,000 or more
Unreliable
With a mortgage
$1,720 a month
Okaloosa County: $1,937 a month
Without a mortgage
$596 a month
Okaloosa County: $608 a month
Owners with a mortgage
61%
Okaloosa County: 61%
Owning costs less in Ocean City: with a mortgage, the typical cost is $1,720 a month; in Okaloosa County, $1,937. Without one, $596.
How it changed
U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024
Change since 2015–2019
Typical home value
Ocean City+74%
Okaloosa County+60%
Florida+67%
United States+53%
Typical rent
Ocean City+52%
Okaloosa County+43%
Florida+42%
United States+33%
Typical household income
Ocean City+25%
Okaloosa County+29%
Florida+34%
United States+29%
Change since 2015–2019: Ocean City and its comparisons
Measure
Ocean City
Okaloosa County
Florida
United States
Typical home value
+74%
+60%
+67%
+53%
Typical rent
+52%
+43%
+42%
+33%
Typical household income
+25%
+29%
+34%
+29%
The typical home value in Ocean City rose 74% since 2015–2019, more than in Okaloosa County (60%).
Rents in Ocean City rose faster than in Okaloosa County: 52% since 2015–2019, against 43%.
Housing prices ran ahead of income in Ocean City: typical income rose 25%, against +74% for home values and +52% for rent.
How people live
U.S. Census Bureau, ACS 5-year, 2020–2024
How people live: Ocean City and its comparisons
Measure
Ocean City
Okaloosa County
Florida
United States
Rental vacancy
Unreliable estimate
14.3%
7.6%
5.5%
Homeowner vacancy
Unreliable estimate
1.4%
1.4%
0.9%
More than one person per room
Unreliable estimate
2.3%
3.3%
3.4%
People per household
2.26
2.48
2.51
2.53
Drive alone
78%
77%
70%
69%
Carpool
18%
10%
9%
9%
Public transit
Unreliable estimate
Unreliable estimate
1%
3%
Walk or bike
Unreliable estimate
2%
2%
3%
Work from home
Unreliable estimate
10%
16%
15%
Other means
Unreliable estimate
1%
2%
2%
Typical commute
Unreliable estimate
20 to 29 minutes
20 to 29 minutes
20 to 29 minutes
Fewer people live in each home here: 2.26 on average, against 2.48 in Okaloosa County.
More people carpool to work in Ocean City than in Okaloosa County: 18% against 10%.
Do the math
What would you pay each month for a home in Ocean City?
A typical home costs more than the typical income allows
We start with a typical home in Ocean City, worth $303,900, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 50% of the typical household income in Ocean City, which is $59,039 a year. For that payment to be 28% of income, a household would need to earn about $105,418 a year.
The calculator's FHA and conventional loan limits are those of all of Okaloosa County.
Change the price, the down payment or the loan: the payment updates right away.
Your numbers
Local data
$
Starts at the typical home value in Ocean City. Change it to the price you have in mind.
Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.
Down payment
%
That is $10,637 (3.5% of the price). The usual minimum for this loan is 3.5%.
This week's average ± a quarter or half point.
National average as of November 5, 2026 (Freddie Mac); your rate may be different.
Adjust advanced details⌄
Estimated monthly payment
Local data
$2,460
at 7.18% · 30 years
Loan amount
$298,395
Total interest
$429,321
Paid off in
November 2056
Includes $5,132 FHA upfront mortgage insurance premium.
Does it fit the income?
Comfortable
up to $1,378 a month
Tight
$1,378 to $1,771 a month
Hard
more than $1,771 a month
Your payment · 50%
Compared with the typical household income in Ocean City ($59,039 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.
Monthly payment breakdown
Principal & interest
$2,021
Property tax
$177
Home insurance
$127
FHA mortgage insurance (MIP)
$134
You need at least $10,637 for the down payment, plus closing costs.
This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.
Total monthly payment $2,460; principal and interest $2,021.
The city and its county
Ocean City and Okaloosa County
Ocean City is in Okaloosa County, Florida. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).
Ocean City
Map of Okaloosa County, Florida, with Ocean City marked. Around it, the neighboring counties.
Ocean City
Okaloosa County
Other cities with a page
Ocean City's own numbers
Typical home value
$303,900
Typical monthly rent
$1,443
Typical yearly household income
$59,039
Households that own their home
58%
Effective property tax rate
0.7%
U.S. Census Bureau, American Community Survey (average 2020–2024).
Numbers for all of Okaloosa County
FHA limit, one-unit home
$603,750
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,908
Price change over 5 years (FHFA)
+47%
Homes in a high flood-risk zone
6.4%
HUD, FHFA and FEMA don't publish these numbers by city.
Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Okaloosa County.
A typical home in Ocean City is worth $303,900: 13% below the county and 15% below Florida. With the typical household income in Ocean City ($59,039 a year), a typical home costs 5.1 times what the household earns in a year.
Years of income to pay for a typical home
The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.
Ocean City5.1 years
Okaloosa4.3 years
Florida4.8 years
United States4.1 years
Source: U.S. Census Bureau, Average 2020–2024
How prices have changed in Okaloosa County
According to FHFA’s house price index, home prices in Okaloosa County rose 104% in the 10 years through 2025.
FHFA does not publish this index by city: these are the numbers for all of Okaloosa County.
Yearly change in FHFA’s price index in Okaloosa County, 2016 to 2025
2016: +6.4% +6.4% 2016
2017: +7.6% +7.6% 2017
2018: +5.3% +5.3% 2018
2019: +7.7% +7.7% 2019
2020: +7.1% +7.1% 2020
2021: +15.1% +15.1% 2021
2022: +18.3% +18.3% 2022
2023: +5.2% +5.2% 2023
2024: +2.1% +2.1% 2024
2025: +0.3% +0.3% 2025
Change in FHFA’s price index in Okaloosa County, Florida and the United States
Period
County
Florida
U.S.
Last year (2025)
+0.3%
−0.5%
+2.9%
5 years (2020–2025)
+47%
+60%
+47%
10 years (2015–2025)
+104%
+127%
+85%
The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data
Ocean City next to Okaloosa County, Florida and the U.S.
Three numbers side by side. “Typical” means the median: half are above it and half below.
Typical home value
Ocean City$303,900
Okaloosa$351,200
Florida$359,000
United States$332,700
Typical monthly rent
Ocean City$1,443
Okaloosa$1,612
Florida$1,669
United States$1,413
Typical yearly household income
Ocean City$59,039
Okaloosa$81,998
Florida$74,568
United States$80,734
See the full table
Ocean City next to Okaloosa County and Florida
Measure
Ocean City
Okaloosa County
Florida
U.S.
Typical home value
$303,900 ▼13% below the county
$351,200
$359,000
$332,700
Typical monthly rent
$1,443 ▼10% below the county
$1,612
$1,669
$1,413
Typical yearly household income
$59,039 ▼28% below the county
$81,998
$74,568
$80,734
Households that own their home
58% ▼11 points below the county
68%
68%
65%
Typical yearly property tax
$2,127 ▲6% above the county
$2,011
$2,730
$3,119
Effective property tax rate
0.7% ▲0.13 points above the county
0.57%
0.76%
0.94%
Renters with high rent for their income
55%
55%
60%
51%
“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Okaloosa County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.
Four ways to pay for a typical home in Ocean City
For a typical $303,900 home in Ocean City, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Ocean City's typical property tax, an example home insurance and mortgage insurance when it applies.
FHA, 3.5% down$2,460a month
Least cash to close
Down payment
$10,637
Cash to close
$19,754
Rate
7.18%
Mortgage insurance
FHA MIP · $134
Conventional, 5% down$2,404a month
Down payment
$15,195
Cash to close
$24,312
Rate
7.18%
Mortgage insurance
PMI · $144
Conventional, 20% down, no PMI$1,951a month
Down payment
$60,780
Cash to close
$69,897
Rate
7.18%
Mortgage insurance
None
ITIN, 15% down (example)$2,232a month
Down payment
$45,585
Cash to close
$54,702
Rate
8.18%
Mortgage insurance
None
Four ways to pay for a typical home in Ocean City
Loan
Monthly payment
Down payment
Loan amount
Rate
Mortgage insurance
Cash to close
Minimum score
FHA, 3.5% down Least cash to close
$2,460
$10,637
$298,396
7.18%
FHA MIP · $134
$19,754
580
Conventional, 5% down
$2,404
$15,195
$288,705
7.18%
PMI · $144
$24,312
620*
Conventional, 20% down, no PMI
$1,951
$60,780
$243,120
7.18%
None
$69,897
620*
ITIN, 15% down (example)
$2,232
$45,585
$258,315
8.18%
None
$54,702
Set by the lender
The option that asks for the least cash to close is FHA, 3.5% down.
Cash to close = down payment plus 3% of the price in closing costs (example).
Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.
Typical rent in Ocean City is $1,443 a month: 10% below the county. In Ocean City, 55% of renter households pay 30% or more of their income in rent.
HUD publishes a fair market rent for all of Okaloosa County, by unit size. To pay the 2-bedroom one ($1,908 a month) without spending more than 30% of your income, you would need to earn $36.69 an hour working full time.
What you need to earn to pay it without spending more than 30% of income, working full time.
HUD fair market rent in Okaloosa County (Fiscal year 2027)
Size
Fair rent a month
Hourly wage
Yearly income
Studio
$1,421
$27.33
$56,840
1 bedroom
$1,706
$32.81
$68,240
2 bedrooms
$1,908
$36.69
$76,320
3 bedrooms
$2,616
$50.31
$104,640
4 bedrooms
$3,189
$61.33
$127,560
Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027
By ZIP code
Fair market rent by ZIP code in Ocean City
HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Ocean City is in ZIP code 32547.
For 2 bedrooms it is $1,850: $58 less than the fair market rent for Okaloosa County ($1,908).
Fair market rent by ZIP code and size in Ocean City, fiscal year 2027.
ZIP code
Studio
1 bd
2 bd
3 bd
4 bd
32547
$1,380
$1,650
$1,850
$2,540
$3,090
ZIP code2 bd3 bd
32547 $1,850$2,540
1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Ocean City when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD)Fiscal year 2027Small Area Fair Market Rents (HUD) (external site)Source: Census Bureau ZCTA-to-place relationship fileData from 2020 dataCensus Bureau ZCTA-to-place relationship file (external site)
You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.
We found no HUD-approved agencies with an office in Okaloosa County. The nearest ones are below; many serve by phone or online.
No down payment, repair or rent-help program on our list is for Ocean City or Okaloosa County. The ones below are statewide in Florida: they work in Ocean City the same as in the rest of the state.
Florida Housing second loan with no interest and no monthly payments, repaid when you sell or refinance.Offered by Florida Housing Finance Corporation.
No legal help resource on our list is for Ocean City or Okaloosa County in particular.
If you have a problem with your landlord, an eviction notice or a scam, the Legal Services Corporation (LSC) search shows the free legal aid offices that serve your area.
Short answers with the numbers for Ocean City and all of Okaloosa County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.
How much does a typical home cost in Ocean City?
The typical home value in Ocean City is $303,900, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Okaloosa County it is $351,200.
How much does it cost to rent in Ocean City?
Typical rent in Ocean City is $1,443 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Okaloosa County is $1,908.
What is the FHA loan limit in Ocean City?
Ocean City uses the FHA limit for all of Okaloosa County (2026): $603,750 for a one-unit home and $1,161,050 for a four-unit home.
How much property tax do owners pay in Ocean City?
The typical homeowner in Ocean City pays $2,127 a year, according to the U.S. Census Bureau. That is 0.7% of the home’s value; in Okaloosa County, the rate is 0.57%.
Where can I find free help to buy or rent in Ocean City?
We found no HUD-approved counseling agencies with an office in Okaloosa County; the nearest ones are on this page. They can help you get ready to buy, with your credit, or with rent.
