The original settlers were Swedes and Norwegians. At the turn of the 20th century, a real estate promoter lured immigrants to Florida from Chicago. The first homesteaders arrived at Svea in the late 19th century. They platted out the town and recorded their dream community in what was then Walton (now Okaloosa) County. The platting was controversial because the Norwegians had a name in the hat also, but there were more Swedes than Norwegians, so they won out. Mrs. Ouida Grimes recalled stories told by her in-laws. Svea means "extraordinarily beautiful" - the town grew slowly - three stores, a post office and a small cotton gin and saw mill and railroad depot provided work for a few people. A school was built in 1937 and the town had two churches, Svea Baptist and Svea Assembly of God. But, by the time the churches were built, most of the Swedes and Norwegians had left. Today, there is no sign of the train depot, the stores are gone and a small cemetery remains as do several small houses.