Housing data for Panama City, FL
Panama City, FL has an estimated 34,979 residents and 17,104 homes (US Census Bureau, 2020–2024 American Community Survey).
It is a city in Bay County.
43.7% of households rent.
The median gross rent is $1,327 a month.
Its population shrank measurably since 2015–2019 (−4.5%).
Figures last updated on .
- Residents
- 34,979 (±34)
- Housing units
- 17,104 (±514)
- Households that rent
- 43.7%
- Median gross rent
- $1,327
- Residents since 2015–2019
- −4.5%
What stands out in Panama City
Homes built before 1980: 55.4% (±4.3 points) in Panama City, higher than in Bay County (24.3%).
Households that rent: 43.7% (±3.4 points) in Panama City, higher than in Bay County (33.2%).
Homes in buildings of 5 or more units: 20.6% (±3.2 points) in Panama City, lower than in Bay County (26.9%).
Median household income: $62,265 (±$3,031) in Panama City, lower than in Bay County ($73,533).
- Age of homes in Panama City
- Renters and owners in Panama City
- Types of homes in Panama City
- Income and affordability in Panama City
Housing in Panama City at a glance
- Median rent: $1,327 median gross rent a month
- Rent by bedrooms: $1,325 median gross rent, 2 bedrooms
- Rent burden: 64.2% of renters pay 30% or more of income
- Renters and owners: 43.7% of households rent
- Income and affordability: $62,265 median household income
- Home values: $268,900 median home value
- Homeowner costs: $1,782 median monthly cost with a mortgage
- Property taxes: $1,752 median real estate taxes a year
- Types of homes: 20.6% of homes are in buildings of 5 or more units
- Bedrooms: 59.6% of homes have 3 or more bedrooms
- Age of homes: 55.4% of homes were built before 1980
- Vacancy rate: 9.2% rental vacancy rate
- Heating fuel: 84.8% heat with electricity
- Commute and cars: 21.4 minutes average trip to work
- Crime reported to police: 307 violent crimes per 100,000 residents
- Growth: −4.5% residents since 2015–2019
- How long people stay: 34.9% moved in since 2020
- Crowding and facilities: 2.7% of homes have more than 1 person per room
Panama City against Bay County, its state and the nation
| Panama City | Bay County | Florida | United States | |
|---|---|---|---|---|
| Residents | 34,979 (±34) | 186,393 (exact) | 22,416,077 (exact) | 334,922,499 |
| Housing units | 17,104 (±514) | 108,362 (±78) | 10,256,470 (±942) | 143,775,355 |
| Households that rent | 43.7% (±3.4 points) | 33.2% (±1.4 points) | 32.4% (±0.2 points) | 34.8% |
| Median gross rent | $1,327 (±$53) | $1,484 (±$39) | $1,669 (±$5) | $1,413 |
| Median household income | $62,265 (±$3,031) | $73,533 (±$2,046) | $74,568 (±$284) | $80,734 |
| Median home value | $268,900 (±$16,269) | $310,500 (±$6,825) | $359,000 (±$930) | $332,700 |
| Median real estate taxes (a year) | $1,752 (±$153) | $1,807 (±$76) | $2,730 (±$10) | $3,119 |
| Built before 1980 | 55.4% (±4.3 points) | 24.3% (±1.2 points) | 33.9% (±0.2 points) | 49.7% |
| Average commute | 21.4 minutes (±1.4) | 23.9 minutes (±0.6) | 28.0 minutes (±0.1) | 26.4 minutes |
| Households with broadband | 87.9% (±2.4 points) | 92.8% (±1.0 points) | 91.6% (±0.1 points) | 91.0% |
| Median age of residents | 39.5 years (±2.2) | 41.0 years (±0.3) | 42.6 years (±0.1) | 38.9 years |
Panama City covers 35.5 square miles of land, about 986 residents per square mile (Census Bureau Gazetteer).
How Panama City has changed since 2015–2019
| 2015–2019 | 2020–2024 | Amount of change | Verdict | |
|---|---|---|---|---|
| Residents | 36,640 (±40) | 34,979 (±34) | −4.5% | Measurable decrease |
| Housing units | 17,740 (±523) | 17,104 (±514) | −3.6% | Not a measurable change |
| Median gross rent | $945 (±$45) | $1,327 (±$53) | +40.4% | Up after inflation |
| Median home value | $155,800 (±$6,259) | $268,900 (±$16,269) | +72.6% | Up after inflation |
| Median household income | $43,953 (±$1,989) | $62,265 (±$3,031) | +41.7% | Up after inflation |
| Median owner cost with a mortgage | $1,330 (±$71) | $1,782 (±$92) | +34.0% | Up after inflation |
| Median real estate taxes | $1,049 (±$76) | $1,752 (±$153) | +67.0% | Up after inflation |
| Households that rent | 49.5% (±2.3 points) | 43.7% (±3.4 points) | −5.8 percentage points | Measurable decrease |
| Rental vacancy rate | 9.8% (±2.5 points) | 9.2% (±2.8 points) | −0.6 percentage points | Not a measurable change |
The Census Bureau publishes 2015–2019 dollars in 2019 dollars and 2020–2024 dollars in 2024 dollars.
Prices (the CPI-U, US Bureau of Labor Statistics) rose 22.7% between 2019 and 2024, so a dollar figure’s verdict compares the two after raising the earlier one by that much, using the Census Bureau’s test for a difference.
The two periods do not overlap, as the Census Bureau recommends for 5-year estimates.
Crime reported to police in Panama City
In 2025, the Panama City Police Department reported 307 violent and 1,316 property crimes per 100,000 residents to the FBI.
ZIP codes in Panama City
| ZIP code | Share of the ZIP’s land in this place | Residents | Median gross rent | Median home value | Median household income |
|---|---|---|---|---|---|
| 32401 | 63% | 18,947 | $1,152 | $230,500 | $52,523 |
| 32405 | 48% | 29,984 | $1,467 | $279,900 | $73,373 |
| 32404 | 11% | 42,514 | $1,399 | $273,500 | $74,708 |
A ZIP code is a mail route rather than a boundary, so the Census Bureau publishes figures for ZIP Code Tabulation Areas built from census blocks; the share column says how much of each one’s land lies in this place.
Places near Panama City
| Place | Distance | Median gross rent | Median home value | Households that rent |
|---|---|---|---|---|
| Cedar Grove | 2.8 mi | $1,420 | $176,100 | 33.4% |
| Pretty Bayou | 2.9 mi | $1,749 | $298,900 | 28.6% |
| Springfield | 4.0 mi | $1,307 | $188,600 | 38.0% |
| Parker | 4.9 mi | $1,338 | $224,200 | 45.9% |
| Upper Grand Lagoon | 5.0 mi | $1,667 | $373,200 | 37.7% |
| Lynn Haven | 5.1 mi | $1,563 | $320,000 | 35.6% |
| Lower Grand Lagoon | 5.2 mi | $1,323 | $397,200 | 29.6% |
| Callaway | 7.7 mi | $1,322 | $250,300 | 41.3% |
Places in Florida most like Panama City
| Place | Median gross rent | Median home value | Median household income | Households that rent |
|---|---|---|---|---|
| Lakeland | $1,395 | $249,400 | $64,185 | 43.6% |
| Fort Walton Beach | $1,307 | $321,800 | $68,538 | 38.2% |
| Ocean City | $1,443 | $303,900 | $59,039 | 42.3% |
| Holly Hill | $1,431 | $205,100 | $55,412 | 47.0% |
| South Daytona | $1,379 | $222,200 | $56,579 | 35.9% |
| Pensacola | $1,322 | $314,400 | $74,212 | 35.8% |
Matched on rent, home value, income, the share who rent, the age of the homes, the share in apartment buildings and the commute, each measured against the spread across Florida.
HUD Fair Market Rent for Panama City, fiscal year 2027
| Studio | 1 bedroom | 2 bedrooms | 3 bedrooms | 4 bedrooms |
|---|---|---|---|---|
| $1,414 | $1,517 | $1,651 | $2,101 | $2,567 |
HUD income limits for Panama City, fiscal year 2026
| Household size | Extremely low (30%) | Very low (50%) | Low (80%) |
|---|---|---|---|
| 1 person | $20,800 | $34,650 | $55,400 |
| 2 people | $23,750 | $39,600 | $63,300 |
| 3 people | $27,320 | $44,550 | $71,200 |
| 4 people | $33,000 | $49,450 | $79,100 |
| 5 people | $38,680 | $53,450 | $85,450 |
| 6 people | $44,360 | $57,400 | $91,800 |
| 7 people | $50,040 | $61,350 | $98,100 |
| 8 people | $55,720 | $65,300 | $104,450 |
These are the limits HUD sets for its housing programs in the Panama City, FL HUD Metro FMR Area, where HUD’s median family income for fiscal year 2026 is $98,900.
A program can use its own limits; tax-credit and local programs often do.
Survey years: 2020–2024 (American Community Survey 5-year estimates), compared with 2015–2019.
Margins of error are at the 90% confidence level.
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Questions about Panama City
What is the average rent in Panama City, FL?
The Census Bureau publishes the median rather than the average: the median gross rent in Panama City is $1,327 (±$53) a month (2020–2024 American Community Survey), so half of renting households pay less and half pay more.
How much is a one-bedroom apartment in Panama City?
The median gross rent for a one-bedroom home in Panama City, FL is $1,278 (±$126) a month (2020–2024 American Community Survey).
Are renters in Panama City rent-burdened?
64.2% of renting households in Panama City pay 30% or more of their income in gross rent, the share housing researchers usually call rent-burdened (2020–2024 American Community Survey).
How many renters are there in Panama City?
Panama City has an estimated 6,634 (±576) renting households, 43.7% of its occupied homes (2020–2024 American Community Survey).
What is the median household income in Panama City?
The median household income in Panama City is $62,265 (±$3,031) a year (2020–2024 American Community Survey).
What is the average home value in Panama City, FL?
The Census Bureau publishes the median: $268,900 (±$16,269) for owner-occupied homes in Panama City (2020–2024 American Community Survey).
Is Panama City growing?
In Panama City, the number of residents went from 36,640 in 2015–2019 to 34,979 in 2020–2024 (−4.5%), a measurable decrease.
What ZIP codes are in Panama City?
The ZIP codes that cover Panama City are 32401, 32405, 32404.
What is the median rent in ZIP code 32401?
The median gross rent in ZIP Code Tabulation Area 32401 is $1,152 (±$97) a month (2020–2024 American Community Survey).
Sources
- Demographic and Housing Estimates (DP05), 2020–2024 ACS 5-year estimates — Panama City city, Florida
- Selected Housing Characteristics (DP04), 2020–2024 ACS 5-year estimates — Panama City city, Florida
- Selected Economic Characteristics (DP03), 2020–2024 ACS 5-year estimates — Panama City city, Florida
- Median Real Estate Taxes Paid by Mortgage Status (B25103), 2020–2024 ACS 5-year estimates — Panama City city, Florida
- Selected Social Characteristics (DP02), 2020–2024 ACS 5-year estimates — Panama City city, Florida
- Total Population (B01003), 2015–2019 ACS 5-year estimates — Panama City city, Florida
- Median Gross Rent (B25064), 2015–2019 ACS 5-year estimates — Panama City city, Florida
- HUD Fair Market Rents, fiscal year 2027: Panama City, FL HUD Metro FMR Area
- HUD Income Limits, fiscal year 2026: Panama City, FL HUD Metro FMR Area
- US Census Bureau, American Community Survey 2020–2024 5-year estimates for ZIP Code Tabulation Areas
- FBI Uniform Crime Reporting Program, Crime Data Explorer: Panama City Police Department (ORI FL0030100)
- FBI: Uniform Crime Reporting statistics and their proper use
- Consumer Price Index for All Urban Consumers (CPI-U), US city average, all items, US Bureau of Labor Statistics: annual averages 2019 and 2024
- US Census Bureau, 2024 Gazetteer Files
To check these figures in the Census Bureau’s own API, request the variables below from the 2024 ACS 5-year data profile (acs/acs5/profile) for Panama City city, Florida (place:54700, in state:12).
Each estimate (E or PE) has a margin of error beside it (M or PM).
The 2015–2019 figures are B01003_001E, B01003_001M, B25064_001E, B25064_001M from the 2019 release.
The API needs a free key.
DP05_0001E, DP05_0001M, DP04_0001E, DP04_0001M, DP04_0047PE, DP04_0047PM, DP04_0134E, DP04_0134M, DP03_0062E, DP03_0062M, DP04_0089E, DP04_0089M
This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
Figures are published by the US Census Bureau, HUD, the Bureau of Labor Statistics and the FBI; Seayora reproduces them and does not adjust them, except where a sentence says it compares dollar figures after inflation. They describe the whole place, not any one building or street, and are not an appraisal, a rent determination, a tax bill, a safety rating or legal advice.
Figures last updated on .