Market Highlights
Located in Northwest Florida, the Pensacola MSA is known for its beautiful weather, popular beaches, and thriving economy. Greater Pensacola, consisting of Escambia & Santa Rosa counties, has a population of 523,146. Ranked by US News & World Report as the #28 Best Places to Live in the US, Pensacola boasts a robust economy anchored by the Chemical & Aviation Manufacturing, Cybersecurity, and Information Technology industries. Over 500 companies are based in Pensacola and benefit from favorable tax laws and a competitive cost of doing business. Proximity to the Port of Pensacola, Intercoastal Waterway, and I-10 provide Pensacola with a strategic transportation infrastructure. The largest employer in the area is Navy Federal Credit Union’s Greater Pensacola Operations (GPO) which currently employs 9,188 people with plans to grow that number to 10,000+ within the next several years. Baptist Hospital is a brand new, 268-bed hospital, and Sacred Heart Hospital is the area’s largest hospital with 566 beds. HCA West Hospital offers an additional 515 beds to the population. University of West Florida is the area’s staple university, with an enrollment of 13,504. Residents benefit from over 50 miles of coastline and some of the state’s best beaches, including Pensacola Beach, a Top 20 beach in the United States (Tripadvisor).
The Pensacola MSA is home to 141 multifamily properties, 21,761 units, and a development pipeline of another 2,197 units.
