As we compare the rental market from August 10th through November 10th of 2024 and 2025, several clear trends have emerged across Northwest Florida. While inventory levels have grown, average days on market have increased, and rental prices have shown mixed movement, the overarching theme is one of adjustment and rebalancing in a market that was once moving at record speed.

Overall Market Shift

Across the MLS as a whole, the average days on market (DOM) have risen from 86 days in 2024 to 105 days in 2025 — a notable increase that signals a cooling rental environment. More inventory means more choices for tenants, and that naturally extends the time it takes to lease each property.

Area-by-Area Breakdown

Navarre:
Navarre’s market shows a 15% increase in inventory, a 1.1% increase in rented prices, and 22% more days on market. This balance of higher rent prices and longer listing times suggests sustained demand, though renters are taking longer to make decisions.

Fort Walton Beach:
Here, we’ve seen a 15% rise in inventory, a 0.9% decrease in rented prices, and a 42% jump in days on market. The longer leasing times and softening prices indicate that competition among landlords is heating up.

Niceville:
Niceville experienced one of the more dramatic inventory changes, with a 41% increase, accompanied by a 2.6% decline in rented prices and a modest 5% increase in days on market. This may reflect renters’ sensitivity to price in a market with many desirable—but higher-cost—homes.

Destin:
In Destin, inventory surged 54%, while rented prices dipped 1.3% and days on market rose 47%. This large increase in available rentals has clearly shifted negotiating power toward renters, who have more options than they did a year ago.

Freeport:
Freeport’s data shows a 14% increase in inventory, a 0.9% decline in rented prices, and 22% more days on market. The trend here mirrors the broader regional pattern—moderate rent softening and longer leasing timelines as supply grows.

Crestview:
Crestview stands out with a 21% increase in inventory, a 2% decrease in rented prices, but surprisingly, a 1% decrease in average days on market. This stability in leasing time, despite more available homes, underscores the draw of affordability and space in this market.

What the Data Tells Us

The Crestview and Navarre data are particularly interesting. They suggest that renters are moving farther from coastal markets in search of more affordable housing options—a pattern that’s becoming more pronounced across the region.

The increase in inventory and days on market across most areas is directly connected: tenants have more choices, and landlords must now compete not just on price, but also on property condition, amenities, and presentation.

For owners, this data underscores the importance of realistic pricing and strategic property management. Even if a property is cash-flow positive on paper, two to three months of vacancy can quickly erase profits. Many military owners, in particular, already experience little to no cash flow due to higher mortgage costs and insurance increases.

If an owner can sell without bringing significant funds to the closing table, that option may be more favorable than carrying ongoing losses. However, for those who can sustain short-term negative cash flow, holding for another 1–3 years could yield long-term benefits in the form of appreciation and equity growth.

Final Thoughts

The current rental market is one of correction, not collapse. Supply is catching up to demand, and investors have an opportunity to reassess their strategies with clearer, more balanced data.

Every investor’s situation is unique, and the right move—whether to hold, rent, or sell—depends on individual goals, cash flow, and risk tolerance.

If you’d like to review your options or discuss how current trends might affect your property, I’d be happy to schedule a time to talk through your best path forward. Click Here to schedule a consultation.