Our Market

Three Distinctive Demographic Markets

Permanent Residents

  • Permanent population is more than 853,000.

  • From 2000-2006, the population has increased by 28.7% in Walton County, 10.3% in Okaloosa County and 5.7% in Bay County

  • Median age is 39.

  • Key buying age group, 25-54, represents over 43% of population and 65% of all shopping expenditures.

  • Nearly 52% of households in Okaloosa and Walton counties have a disposable income greater than $40,000. Of those, approximately 15% have a disposable income greater than $100,000.


Secondary Homeowners

  • Trade area benefits from year-round season.

  • Multi-million dollar homes and developments continue to emerge throughout South Walton County including Seaside, Rosemary Beach and Alys Beach.

  • Sandestin®-area secondary homeowners fall into the nation’s top wealth categories.


Visitors

  • There were more than 17 million visitors to the Emerald Coast region in 2008 with collective expenditures of over $4 billion a year. Walton and Okaloosa counties collectively saw over 7.6 million visitors in 2008, an increase of 9% over 2007.

  • The area boasts a first-class visitor retention rate – over 80% of visitors return to Beaches of South Walton for their vacation destination.

  • Average annual income for Beaches of South Walton visitors exceeds $138,000.

  • Overnight visitors in Walton County generate over $1 billion in total sales locally. (retail/business-to-business)

  • Tourism continues to rapidly grow in Walton County. In the past five years, occupancy income has increased by 40% and the number of visitors is up 185% over the last five years.

 

Prestigious Location

Howard Group is located in Walton County, Florida, one of the nation’s fastest growing counties. Located on Northwest Florida’s Gulf Coast, the local beaches have been recognized as the “Best Beach in the United States” by USA Today readers and “Number One in the South” and “Favorite Family Vacation Destination” by Southern Living Magazine readers for 13 consecutive years. For the eighth consecutive year, all 26 miles of beach were awarded the Blue Wave Certification by the Clean Beaches Council.

The success of the area is primarily due to two key factors – the breathtaking beaches and planned economic improvements. The development of the new state-of-the-art Sacred Heart Hospital & Medical Complex, critical road improvements and the new $312-million planned international airport, opening early 2010, will further enhance the dynamic growth of the market.


Market Growth

  • The new Bay County International Airport broke ground and began construction in 2007 with flight operations beginning in early 2010.  The planned airport will be the nation’s only greenfield airport and will initially be developed on approximately 1,400 acres.  The $312-million project will accommodate domestic and international flights. 

  • Sacred Heart Hospital on the Emerald Coast, located adjacent to Howard Group and Grand Boulevard at Sandestin®, serves an average of 7,000 patients per month with a wide range of medical and surgical services. Sacred Heart has the highest rating among hospitals in Northwest Florida and places in the top one percent of hospitals nationwide regarding the overall patient experience. In 2007, the hospital added the Olson Women’s Diagnostic Center and the Family Birth Place, where over 800 babies have been delivered since its opening.
  • From 2000-2006, Walton County’s net migration was 97.6%, significantly higher than that of Okaloosa County and the State of Florida as a whole (88.7%).
  • The 2007 taxable assessed value of Walton County increased by $1.17 billion (7.18%) over the taxable value for 2006.
  • From 2005 to 2007, retail sales grew 12% for Walton County and 5% in Okaloosa County, for a combined increase of over $567 million.
  • Due to active lobbying by Howard Group, the Florida DOT is committed to widening Emerald Coast Parkway to six lanes from Silver Sands Factory Stores west to Destin.
  • One year after the new terminal was completed, the Northwest Florida Regional Airport serviced over 799,000 passengers, an increase of 9.5% over 2006. The airport features six major carriers and offers direct service to Atlanta, Cincinnati, Houston, Memphis, Tampa and St. Louis. In 2007, new flights were announced to Chicago and Cincinnati. Additionally, flights to Charlotte, NC begin in April 2008.
  • Nearby beach draws die-hard discount shoppers from distant outlet centers in Atlanta and Birmingham.
  • The Northwest Florida Gulf Coast area remains the second most popular drive-to destination in the Southeast.
  • Tourism continues to grow in Walton County. Occupany has increased 12% over the last three years and has trended up 17% over the last five years.
  • Walton County alone saw over three million visitors in 2008, an increase of 20% from 2007 and a total of 186% over the last five years. The average visitor’s income has increased by 50% over the last four years with 71% of visitors reporting the presence of children with them, signaling the area as a popular family destination.

 

 

 

Photos © Steven Brooke Studios