Okaloosa County has an excellent school system, and IIRC it pays pretty good (by NW FL standards anyway). Same for Santa Rosa County. Housing prices near the coast are pretty high, so I might look at Crestview. Also look at the Walton County-Defuniak Springs area.
When I moved back up here from Miami about 15 years ago, this part of the state was a best-kept secret. Unfortunately, our real estate costs and tax burden has caught up with the rest of the state in the past five or so years.