Real Estate Investing in Old Town, Florida (32628)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 32628 (Old Town, FL)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- High vacancy: 19.3% of homes vacant — above national norms.
- Lower household income: $39,835 median — tenant affordability is tighter.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Old Town, FL (32628)?
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Market Analysis: 32628 Old Town
ZIP 32628 in Old Town, FL carries a notable set of headwinds. Home values near $164K and rents of $1,035/mo sit inside a market where underwriting has to be tight.
For an experienced owner, 32628 can be a a solid fit for hunting ground — but the discount at $164K reflects genuine risk that outside investors often underestimate.
ZIP 32628's metrics run below Dixie County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
A durable renter share of 21% in 32628 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
Distressed ZIPs reward experience. healthy returns are possible in 32628, 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 Old Town:
Market Trends
Home Value History (with trend line)
📊 How Does 32628 Compare?
| Metric | 32628 | Old Town | Florida |
|---|---|---|---|
| Home Value | $163,784 | $198,458 | $374,697 |
| 5-Year CAGR | 4.4% | 5.1% | 7.4% |
| Avg Rent | $1,035 | $1,049 | - |
| Cap Rate | 4.9% | 4.2% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 32628 (Old Town, FL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $163,784 |
| Monthly Rent | $1,035 |
| Price-to-Rent | 13.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 7.6% |
| Cap Rate | 4.9% |
| 5-Year IRR | 9.3% |
📈 Home Appreciation
| 1-Year | +8.4% ▲ |
| 3-Year CAGR | +2.6% ▲ |
| 5-Year CAGR | +4.4% ▲ |
| 10-Year CAGR | +8.4% ▲ |
🏠 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 (4.9%). 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 32628
Population: 5,423
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 32628
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
Where do rents currently stand in Old Town, FL?
Investors in Old Town, FL typically see rents near $1,035/mo per month against $164K home values - a solid setup for rental cash flow.
Does house hacking make sense in Old Town, FL?
House hacking in Old Town, FL is reasonable to execute. Prices around $164K and rents of $1,035/mo solid owner-occupant economics.
How does Old Town, FL rate as a rental market?
Old Town, FL rates 3.0/5 for investability. With median values at $164K and rents near $1,035/mo, the market offers reasonable fundamentals for rental investors.
What are vacancy rates like in Old Town, FL?
Old Town, FL sees elevated vacancy, which is reasonable relative to the broader FL rental market.
Which real estate strategy fits Old Town, FL?
The best-fit strategy in Old Town, FL is careful cash-flow rentals with hands-on management. That approach the rent and price profile of the market.
You know 32628 now. You don’t know where it ranks.
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