Real Estate Investing in Freeport, Florida (32439)
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Should you buy in 32439 (Freeport, 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: 13.2% of homes vacant — above national norms.
What’s happening in Freeport, FL (32439)?
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Market Analysis: 32439 Freeport
The 32439 ZIP covers a section of Freeport that demands careful diligence. Prices near $392K look accessible, but the work to make a deal cash flow is real.
Distressed markets are won on execution, not on spreadsheets. ZIP 32439 reflects the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
ZIP 32439's metrics run below Walton County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
The demographic picture in 32439 includes headwinds that any investor should price in. Income distribution skews lower than Freeport averages, and tenant stability requires active management.
Distressed ZIPs reward experience. substantial returns are possible in 32439, 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 Freeport:
Property Strategy for 32439
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $224,008 | $1,330 | 4.3% | +5.6% | $112,004 |
| 3BR | $356,815 | $1,850 | 3.7% | +6.7% | $118,938 |
| 4BR | $492,918 | $2,230 | 3.3% | +8.5% | $123,230 |
| 5BR | $547,113 | — | — | +8.2% | $109,423 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 32439 Compare?
| Metric | 32439 | Freeport | Crestview-Fort Walton Beach-Destin, FL | Florida |
|---|---|---|---|---|
| Home Value | $391,683 | $391,683 | N/A | $374,697 |
| 5-Year CAGR | 2.9% | 2.9% | N/A | 7.4% |
| Avg Rent | $1,817 | $1,817 | N/A | - |
| Cap Rate | 3.6% | 3.6% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 32439 (Freeport, FL). Anonymous, moderated, never written by AI.
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Property managers serving Walton County
Manage rentals here? List your business →Dragonfly Property Management LLC offers vacation rentals in Panama City Beach, providing options to search by area, bedroom count, and type like Gulf View. summary from their website
Emerald Coast Association Management (ECAM) provides association governance, business and financial, community building, online, and property management services for community associations. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $391,683 |
| Monthly Rent | $1,817 |
| Price-to-Rent | 18.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.6% |
| Cap Rate | 3.6% |
| 5-Year IRR | 6.5% |
📈 Home Appreciation
| 1-Year | -2.2% ▼ |
| 3-Year CAGR | -1.5% ▼ |
| 5-Year CAGR | +2.9% ▲ |
| 10-Year CAGR | +6.6% ▲ |
🏠 Rent Trends
| 1-Year | -8.7% ▼ |
| 3-Year CAGR | -3.0% ▼ |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.6%). 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 32439
Population: 15,264
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
🎓 Schools in 32439
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
Frequently Asked Questions
What is the rental occupancy rate in Freeport, FL?
Occupancy in Freeport, FL runs measured with elevated vacancy. Well-priced units at $1,817/mo lease on reasonable timelines.
How should investors approach Freeport, FL?
Most investors in Freeport, FL run a careful cash-flow rentals with hands-on management strategy. It aligns with the 3.0/5 investability profile and the market fundamentals.
How deep is the rental pool in Freeport, FL?
Expect a solid tenant pool in Freeport, FL. The rental market absorbs $1,817/mo rents without meaningful friction.
What price range are homes in Freeport, FL?
Median home price in Freeport, FL is near $392K, with a 5-year CAGR of 0.0%. Prices have been predictable and supportive of buy-and-hold strategies.
What kind of market is Freeport, FL for investors?
Investors tracking Freeport, FL will find a 3.0/5 rating supported by $392K median home values and $1,817/mo rents. That profile suits long-term holders targeting reliable returns.
You know 32439 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 32439 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 32439 ranks in Crestview-Fort Walton Beach-Destin, FL
Every ZIP in this metro, ranked. Free.
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