Market Overview
Pensacola is in northwestern Florida and is on Pensacola Bay. It is about 35 miles west of Fort Walton Beach, and close to Alabama — only 60 miles away. It is a beach resort town and famous as the home of “Spring Break” when students from colleges nationwide descend upon the city for a good time on its beaches.
Because it is in northern Florida, Pensacola is warm, but cooler than south Florida with an average high temperature of 84 degrees in the summer. The evening lows are an average of 76 degrees. The cool season, like most of Florida, is short — three months. Then, the high temperature will be below 67 degrees and the average low is 45 degrees.
Pensacola’s population in 2018 was 57,713 with a growth rate of 0.38%. It has a low cost of living, and Its job market has increased by 1.9% since last year. In ten years, the predicted job growth will be 42%. Tourism is a major industry there. Other major employers are in aerospace engineering, manufacturing and transportation services. These include Lion Aerospace International, Raytheon Co., and the Pall Corp. Pensacola has also been referred to as “The Cradle of Naval Aviation” and is where the navy trains its jet pilots for their Top Gun program.
With a big tourist draw, beautiful beaches, growing job market, low cost of living and a thriving Navy base, Pensacola will continue to grow and attract individuals.
Real estate market data in Pensacola
Average Monthly Rent:
$1,014
Percentage Change in Home Price/Value:
10%
Median Home Value:
$148,900
Best Time To Sell Home:
November
Affordability Index:
159
Days To Sell House:
76.92
Job Market:
Fair
Public School Ranking:
26
