Pace, FL Apartment Market & Multifamily Brokerage
Santa Rosa County, FL
Pace is a smaller market — 25,630 residents and 8 tracked properties — but smaller doesn't mean inactive. Thin markets like this one are exactly where relationships matter more than broad marketing, since so few owners are getting called on directly.
One number worth sitting with: only 25.6 apartment units per 1,000 residents, below most of the markets we track. Either this is a true ownership-heavy market with limited renter demand, or there's renter demand here that isn't being served by tracked multifamily stock — worth a closer look before assuming it's the former.
Average asking rent here runs $1,824/unit, on the higher end of our coverage area. That ceiling makes underwriting discipline the deciding factor — the market can support strong rents, but only for product that's actually earned them.
Pace is an unincorporated community between Pensacola and Milton and one of Santa Rosa County's fastest-growing areas, with growth far outpacing new apartment supply.
Steven Rowe and Gulf Coast Multifamily represent owners of 10+ unit apartment properties in Pace and across Santa Rosa County, FL. If you're thinking about selling, refinancing, or just want to know what your property is worth, a confidential conversation costs nothing.