How much is a home worth in ZIP code 32433?

The typical home in 32433 is worth $232,140, based on the Zillow Home Value Index.

Are home values rising in 32433?

Home values in 32433 are down 1.8% over the past year, and up 5.4% a year over five years.

What is the typical rent in 32433?

A typical home in 32433 rents for about $1,850 a month, a gross rental yield of 9.6%.

What is the property tax rate in 32433?

The effective property tax rate in 32433 is 0.5% — roughly $1,169 a year on a typical home.

ZIP code 32433 has a population of 19,746 and a median household income of $52,199.

HousingHandbookReference data

…

U.S. ZIP Code · FL32433

Walton County · Crestview-Fort Walton Beach-Destin, FL

Typical home value

$232,140^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: -1.8%
5-year / yr: +5.4%
10-year / yr: +8.1%

Relative price

vs U.S.: -18.3%
vs metro: -29.0%
vs state: -33.1%

Price history

Zillow Home Value Index — monthly, smoothed and seasonally adjusted.

The typical home in 32433 is worth $232,140 — 29.0% below the Crestview-Fort Walton Beach-Destin, FL median. Over the past year, values have fallen 1.8%. Homes here rent for a typical $1,850 a month — a 9.6% gross rental yield. The effective property tax rate is 0.5%.

#Rent & investment

Typical asking rent, and the returns it implies at the current home value.

Monthly rent: $1,850^[2]
Gross yield: 9.6%^[2]
Cap rate: 5.7%^[2]

#Property tax

Effective rate — total real estate taxes paid relative to total home value.

Effective tax rate: 0.5%^[3]
Typical annual tax: $1,169^[3]

#Climate risk

FEMA National Risk Index ratings for Walton County. "Not Applicable" means the hazard does not threaten the county.

Overall risk: Relatively Moderate^[4]
Riverine flood: Relatively Low
Coastal flood: Relatively Moderate
Wildfire: Relatively Low
Drought: Very Low
Heat wave: Relatively Low
Hurricane: Relatively High
Tornado: Relatively Moderate
Earthquake: Very Low
Winter weather: Very Low

#Who lives here

Population: 19,746^[3]
Median household income: $52,199^[3]

#Migration

Household moves in and out of Walton County over a year, from IRS tax-return data.

Net migration: +1,070^[5]
Moved in: 3,980
Moved out: 2,910

Schools

Open public schools in this ZIP, from the NCES Common Core of Data.

Public schools: 5
Elementary: 2
Middle: 0
High: 2

WALTON HIGH SCHOOL
High · Grades 9–12 · WALTON
898 students
MAUDE SAUNDERS ELEMENTARY SCHOOL
Elementary · Grades K–5 · WALTON
561 students
MOSSY HEAD SCHOOL
Elementary · Grades PK–5 · WALTON
504 students
WALTON INITIATIVE FOR SUCCESS IN EDUCATION (WISE)
Other · Grades PK–12 · WALTON
247 students
EMERALD COAST TECHNICAL COLLEGE
High · Grades 9–12 · WALTON
0 students

Run the numbers

Interactive calculators pre-filled with this ZIP's typical home value, rent, and property-tax rate. Edit any field to recompute.

Home value$Monthly rent$

Gross yield9.6%

Net yield (after ~40% expenses)5.7%

Annual rent$22,200

Gross and net yield are estimates based on the inputs and the selected expense ratio. Actual income and expenses will vary by property and market. Not investment advice.

Home price$Down payment%Interest rate%Loan termyears

Monthly payment$1,174

Loan principal$185,712

Down payment$46,428

Total interest paid$236,865

Estimated monthly payments include principal and interest only. Actual costs will include property tax, insurance, possibly PMI, and HOA fees not modeled here. Loan terms shown are estimates; consult a licensed lender for current rates and qualification.

Home price$Monthly rent$Down payment%Mortgage rate%Property tax rate% / yrMaintenance% / yrRule of thumb: 1% of home value per year.

Own : rent ratio0.79

Monthly cost to own$1,464

Monthly rent$1,850

Owning is meaningfully cheaper month-to-month.

This calculator projects multi-year scenarios based on assumptions about appreciation, rent growth, and investment returns — none of which are guaranteed. Actual outcomes depend on variables this tool cannot know. Not financial or real estate advice.

#Metro ranking

Where this ZIP sits among others in its metro area.

Appreciation: 100th percentile^[1]
Rental yield: 100th percentile^[2]
Property tax: 35th percentile^[3]

Frequently asked

How much is a home worth in ZIP code 32433?: The typical home in 32433 is worth $232,140, based on the Zillow Home Value Index.
Are home values rising in 32433?: Home values in 32433 are down 1.8% over the past year, and up 5.4% a year over five years.
What is the typical rent in 32433?: A typical home in 32433 rents for about $1,850 a month, a gross rental yield of 9.6%.
What is the property tax rate in 32433?: The effective property tax rate in 32433 is 0.5% — roughly $1,169 a year on a typical home.
Who lives in 32433?: ZIP code 32433 has a population of 19,746 and a median household income of $52,199.

#Comparable ZIPs

Same metro, nearest typical home value. Each card shows the comparable ZIP's headline numbers so you can scan at a glance.

32435 vs 32433 →
DeFuniak Springs, FL
Typical home
$241,588
Gross yield
—
32455 vs 32433 →
Ponce de Leon, FL
Typical home
$207,433
Gross yield
—
32539
Crestview, FL
Typical home
$284,067
Gross yield
7.6%
32536
Crestview, FL
Typical home
$295,310
Gross yield
7.2%
32567
Laurel Hill, FL
Typical home
$297,755
Gross yield
—
32547
Wright CDP, FL
Typical home
$316,155
Gross yield
7.1%

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Pit ZIP 32433 against any other ZIP — full side-by-side table.

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#Jump to section

U.S. ZIP Code · FL32433

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