Real Estate Investing in Carrabelle, Florida (32322)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 32322 (Carrabelle, FL)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 43.0% of homes vacant — above national norms.
- Elevated poverty: 23.1% poverty rate — can affect rent collection.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Carrabelle, FL (32322)?
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Market Analysis: 32322 Carrabelle
ZIP 32322 in Carrabelle, FL carries a durable set of headwinds. Home values near $290K and rents of $1,116/mo sit inside a market where underwriting has to be tight.
The investment case in 32322 is robust only for operators who understand what they are buying. A $290K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
On the rental side, 32322 offers a low basis, the region around Carrabelle has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
Who lives in 32322 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
Distressed ZIPs reward experience. notable returns are possible in 32322, but they flow to investors who already understand how to operate in soft markets.
Here's what matters if you're considering buying a home in Carrabelle:
Property Strategy for 32322
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $270,246 | $1,240 | 3.3% | +9.8% | $135,123 |
| 3BR | $331,375 | $1,640 | 3.6% | +7.7% | $110,458 |
| 4BR | $503,449 | $1,640 | 2.3% | +7.5% | $125,862 |
Market Trends
Home Value History (with trend line)
📊 How Does 32322 Compare?
| Metric | 32322 | Carrabelle | Florida |
|---|---|---|---|
| Home Value | $289,887 | $264,936 | $374,697 |
| 5-Year CAGR | 4.5% | 3.8% | 7.4% |
| Avg Rent | $1,116 | $1,116 | - |
| Cap Rate | 3.0% | 3.3% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 32322 (Carrabelle, FL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $289,887 |
| Monthly Rent | $1,116 |
| Price-to-Rent | 21.7:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.6% |
| Cap Rate | 3.0% |
| 5-Year IRR | 7.5% |
📈 Home Appreciation
| 1-Year | -2.5% ▼ |
| 3-Year CAGR | +0.2% ▲ |
| 5-Year CAGR | +4.5% ▲ |
| 10-Year CAGR | +7.1% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.0%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 32322
Population: 4,348
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
Frequently Asked Questions
What does house hacking look like in Carrabelle, FL?
The a challenging house-hack environment in Carrabelle, FL reflects the rent-to-price spread. Expect meaningful PITI offset at market rents.
Are renters plentiful in Carrabelle, FL?
Carrabelle, FL draws a consistent base of working renters. Demand at the $1,116/mo rent level is reasonable for standard single-family and small multi rentals.
Is Carrabelle, FL a good place for real estate investing?
Carrabelle, FL reports an investability rating of 3.0/5, with median home values near $290K and average rents around $1,116/mo. That combination puts it in the significant tier for investor interest.
How much is rent in Carrabelle, FL?
Rents in Carrabelle, FL run near $1,116/mo. Compared with median home prices of $290K that produces solid gross yields for typical rentals.
What is the median home value in Carrabelle, FL?
Expect median prices around $290K in Carrabelle, FL. The market has run at a 0.0% 5-year CAGR, so entry costs have been stable.
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