The story of this market
The typical home in ZIP 32440 sells for about $124,000, or $148 per square foot.
Prices are up +2.5% from a year ago, so sellers still have some momentum. Homes take about 90 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $832 a month.
ZIP 32440 — Graceville
The housing market in 32440 is characterized by low-cost, rural residential inventory with stable, modest price appreciation. Market activity is driven by local demand and affordability, with limited new construction and a reliance on existing housing stock. The area remains a quiet, value-oriented market for local residents.
This ZIP is best suited for budget-conscious buyers, retirees, and those seeking a quiet, rural lifestyle with low cost-of-living compared to coastal Florida.
Median prices moved up 2.5% year over year.
Homes spend a median of 90 days on market with 6.2 months of supply — a balanced-paced market.
15% of listings have cut prices · homes sell at 96% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 1.8% · poverty 22.6% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 5.7%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 5.6%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
in-migration and out-migration balanced
ZCTA 32440, Jackson County FL
Local schools are primarily served by the Jackson County School District, which provides standard public education for the rural Graceville area.
The area is subject to standard Florida wind and storm risks; flood zone designations vary by parcel proximity to local water bodies.
Economic momentum is driven by local agriculture, small-scale retail, and regional services in Jackson County.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (Florida) — Statewide Uniform Property Tax Lien Priority & Tax Deed Sale Enforcement: Unpaid real ad valorem and non-ad valorem taxes become a first-priority sovereign lien on January 1 of the tax year, superior to all mortgages and private liens. If unpaid by April 1 following the tax year, tax certificates are sold via competitive bidding under § 197.432. State (Florida) — Community Development District (CDD) Special Assessment & Financing Lien Mandate: Binds the parcel to non-ad valorem assessments levied directly by the CDD board to fund infrastructure bonds (capital assessments) and operations/maintenance (O&M assessments). State (Florida) — Florida Constitutional Homestead Exemption & Save Our Homes (SOH) Assessment Cap: Reduces taxable value by up to $50,000: base $25,000 exemption applies to all taxing authorities (including school districts); second $25,000 exemption applies to assessed value between $50,000 and $75,000 for non-school millage. State (Florida) — Florida Ad Valorem Real Property Assessment & Tax Mechanics: Parcels are assessed annually at 100% just value (market value) as of January 1 by county property appraisers. Tax formula: Tax Bill = (Taxable Value / 1,000) * Total Levied Millage Rate. Assessed Value = Just Value - Assessment Limitations.
Commutes are primarily car-dependent, with residents traveling to nearby Bonifay or Dothan, AL for employment.
Recreation is centered on rural outdoor activities, local parks, and proximity to regional lakes and nature preserves.
The rental market is characterized by low-density single-family homes with limited multi-family inventory and stable, modest demand.
The economy is largely supported by local government, education, and agricultural sectors within Jackson County.
Transportation is entirely reliant on private vehicles via state highways connecting to the broader Florida Panhandle.
Development is primarily focused on small-scale residential infill and rural land use.
The Jackson County Property Appraiser manages assessments based on market value and state-mandated exemptions.
Parcels are subject to Jackson County School District and local municipal utility service districts.
Property insurance premiums are influenced by regional hurricane risk and state-wide market volatility.
Florida is a judicial foreclosure state requiring court intervention for the foreclosure process.
Florida law requires sellers to disclose known material defects that affect the value of the property.
Data retrieved from US Census Bureau ZCTA-level tables.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
- Big Creek Gaming3.812.1 mi
- Ketchem's Restaurant, Catering and Venue4.714.9 mi
- Oyster Bar Of Graceville4.72.5 mi
- City of Chipley - Jim Trawick Park4.310.5 mi
- City of Chipley - Jim Trawick Park4.310.5 mi
- Food Giant4.212.5 mi
- Dollar General41.7 mi
- Dollar General Market4.212.4 mi
- Dothan Regional Airport4.126.9 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
Local community space for outdoor recreation.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.