359 River Road, Carrabelle,
Franklin County Real Estate - Carrabelle
Carrabelle is in North West Florida. It's population as recorded in the 2010 Census was 2,778. Carrabelle is approximately 46 miles from Tallahassee (population 181,376) and around 63 miles from Panama City (population 36,484).
The median age for residents of Carrabelle is 35.6. Around 29.2% of Carrabelle households include school aged children and 34.8% of households include individuals aged 65 years or over. Census records indicate 69.5% of the Carrabelle population are White, 27.6% are Black or African American, .2% American Indian, .3% Asian and 1.5% are Two or more Races.
There are 988 housing units in Carrabelle. 428 (43.3%) of these were reported as vacant in the 2010 Census. Carrabelle is a tourist destination, 50.9% (218) of it's vacant housing units were classed as seasonal, recreational or for occasional use. There are 287 residential rental units in Carrabelle. 200 of them were occupied in 2010 providing a residential rental vacancy rate of 29.6%.
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Franklin County
Franklin County is located in northwest Florida, along with Bay, Santa Rosa, Escambia, Walton, Holmes, Jackson, Washington, Okaloosa, Calhoun, Liberty, Gulf, Gadsden, Leon, Jefferson, and Wakulla counties. One of Franklin County's largest industries is seafood, supplying for than 90% of Florida's Oysters and 10% of the nations. Commercial timber and tourism are also large industries. Franklin County beaches have been ranked some of the most beautiful in the world.
Top private sector employers for Franklin County are Weems Memorial Hospital, Leavins Seafood, and Greensteel Homes. Major public sector employers are Franklin County and Florida Department of Corrections. Cities, towns, and islands in Franklin County include Apalachicola (county seat), Carrabelle, Cape St. George Island, Dog Island, and St. Vincent.
Neighboring Properties
| Address | Type | Sq Ft | Class | |
|---|---|---|---|---|
| 347 River Road | Single Family | 1,906 | B |
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| P.O.Box 1094 | Single Family | 2,258 | B |
|
Local Household Income
The median household income in this part of Florida is $51,243. The bottom 10% of the population earn less than $14,764 per year. The top 10% earn more than $116,481 per year. The top 1% earn more than $304,147 per year. Most renters earn between $17,940 (20th percentile) and $34,860 (80th percentile) per year. Someone earning the median household income in this area is likely to qualify for a mortgage between $102,486 and $128,108.
The tax assessed value of this property places it in percentile 99 of all properties in this area. This suggests it would appeal to someone earning around $304,147 per year who should qualify for a mortgage between $608,294 and $760,368.
Source: US Census American Community Survey - 2008-2012 ACS 5-year PUMS estimates
Local Rents
The median monthly rent in this part of Florida is $743. Most renters earn between $1,495 and $2,905 per month. They typically spend 36% of their monthly income on rent. Most rents fall in the $456 (20th percentile) to $1,002 (80th percentile) range. The residential vacancy rate is 10%.
This property falls in percentile 99 of all properties in this area. This corresponds to a rent of $1,846 per month and a monthly household income of $5,315 ($63,780 per year)