Beyond the glitzy headlines of Miami and Palm Beach, a quiet real estate boom is unfolding along a lesser-known stretch of Florida’s Gulf Coast. Dubbed the “Forgotten Coast,” this region is gaining attention from affluent buyers seeking more than just a beach—they want peace, space, and an escape from the everyday.
Nestled in the state’s Panhandle, Gulf County has recently become one of the top vacation home destinations in the U.S., according to luxury real estate platform Pacaso. Their 2024 ranking of second-home markets placed Gulf County in second place nationwide, based on the ratio of vacation homes to primary residences and price growth year-over-year. Nearly 77% of homes in the area are second residences, and the average home price tops $1 million.
What draws people here isn’t luxury in the traditional sense—it’s the lack of it. You won’t find high-rise condos or endless retail strips. Instead, Gulf County offers 244 miles of undeveloped, sugar-white beaches, untouched night skies, and a lifestyle dictated by tides and sunsets.
Take Erin, a graphic designer from Chicago, who stumbled upon Port St. Joe during a pandemic getaway. The simplicity of life—mornings on the porch watching dolphins, nights grilling under the stars—made her rethink city living. Last year, she purchased a four-bedroom beach home for just under $1 million. “It was the most impulsive decision I’ve ever made,” she says, “but also the most right.”
Just east of Gulf County lies Walton County, which secured third place on Pacaso’s list. Here, things are a little more polished. Known as the “Emerald Coast,” Walton is home to scenic Highway 30A and the storybook beach towns of Seaside, Alys Beach, and Rosemary Beach. It’s the kind of place where families ride bikes barefoot to the farmers market, and every sunset feels curated by nature itself.
John, an architect from New York, originally bought a vacation home in Seacrest. But after switching to remote work, he decided to stay. “I start every day with a bike ride down the Timpoochee Trail,” he says. “Then I grab my laptop and work from the balcony. It’s the first time in my career that work and life feel truly balanced.”
While Walton County is pricier than Gulf, it still presents a value proposition compared to Florida’s more established luxury markets. In May, the median listing price was around $965,000—down slightly from last year but up more than 50% since 2019. The area had over 2,600 homes listed for sale in May alone, a notable jump in inventory.
Gulf County, by contrast, is a little more rugged, a little more raw. Home prices dipped slightly over the past year but are still up more than 70% from mid-2019, with a median list price of $675,000 as of May. Port St. Joe remains the most expensive town in the county, with typical home sales hitting $495,000 in March.
Of course, Florida’s overall appeal hasn’t faded. The Sunshine State dominated Pacaso’s top 20 vacation home markets, with five counties making the cut—more than any other state. In addition to Gulf and Walton, Collier, Palm Beach, and Nassau counties also made the list.
But what makes places like Gulf and Walton stand out isn’t just the price or the inventory—it’s the feeling. Here, you don’t just buy a home. You buy a slower rhythm, a new chapter, a backdrop for memory-making.
As Erin puts it, “I wasn’t buying a house—I was buying the space to breathe.”
Whether you’re dreaming of a weekend escape or investing in a long-term retreat, Florida’s ‘Forgotten Coast’ may be the place to find something that’s increasingly rare in real estate today: peace.