What is the rental vacancy rate in Panama City, FL?

Name: Vacancy rate in Panama City, FL, 2020–2024
Creator: US Census Bureau
License: https://www.census.gov/data/developers/about/terms-of-service.html

The rental vacancy rate in Panama City, FL is 9.2% (±2.8 points) (2020–2024 American Community Survey).

The homeowner vacancy rate is 1.0% (±1.2 points).

1,935 (±307) homes, 11.3% of all housing units, were vacant, a count that includes seasonal homes and homes being sold or rented.

In Panama City, the rental vacancy rate went from 9.8% in 2015–2019 to 9.2% in 2020–2024 (−0.6 percentage points), not a measurable change.

Figures last updated on November 12, 2026.

Rental vacancy rate: 9.2% (±2.8 points)
Homeowner vacancy rate: 1.0% (±1.2 points)
Vacant homes: 1,935 (±307)

Vacancy in Panama City against Bay County, its state and the nation

Estimate (90% margin of error)
	Panama City	Bay County	Florida	United States
Rental vacancy rate	9.2% (±2.8 points)	11.7% (±2.0 points)	7.6% (±0.2 points)	5.5%
Homeowner vacancy rate	1.0% (±1.2 points)	1.5% (±0.7 points)	1.4% (±0.1 points)	0.9%
Vacant housing units	1,935 (±307)	29,584 (±1,219)	1,503,660 (±20,826)	14,547,859

The rental vacancy rate is the share of rental homes that are vacant and for rent; it leaves out homes already rented but not yet moved into, and seasonal homes.

In Panama City, the rental vacancy rate is not measurably different from Bay County (11.7%).

It is not measurably different from Florida (7.6%).

It is higher than the national figure (5.5%).

Rental vacancy rate in places near Panama City

Nearest places with a published estimate, compared with Panama City
Place	Distance	Rental vacancy rate	Compared with this place
Panama City	—	9.2% (±2.8 points)	—
Cedar Grove	2.8 mi	12.1% (±13.2 points)	Not measurably different
Pretty Bayou	2.9 mi	17.8% (±21.5 points)	Not measurably different
Springfield	4.0 mi	4.5% (±5.1 points)	Not measurably different
Parker	4.9 mi	12.1% (±10.5 points)	Not measurably different
Upper Grand Lagoon	5.0 mi	10.7% (±6.0 points)	Not measurably different
Lynn Haven	5.1 mi	3.1% (±2.7 points)	Lower
Lower Grand Lagoon	5.2 mi	43.0% (±8.4 points)	Higher
Callaway	7.7 mi	5.1% (±5.0 points)	Not measurably different

Nearby places with a measurably lower figure: Lynn Haven, FL (3.1%).

Nearby places with a measurably higher figure: Lower Grand Lagoon, FL (43.0%).

Distance is measured in a straight line between the Census Bureau’s internal points for each place.

Rental vacancy rate across Bay County, place by place

Rank	Place	Rental vacancy rate
3	Laguna Beach	31.6% (±15.5 points)
4	Panama City Beach	18.6% (±4.8 points)
5	Pretty Bayou	17.8% (±21.5 points)
6 (tie)	Cedar Grove	12.1% (±13.2 points)
6 (tie)	Parker	12.1% (±10.5 points)
8	Upper Grand Lagoon	10.7% (±6.0 points)
9	Panama City	9.2% (±2.8 points)
10	Callaway	5.1% (±5.0 points)
11	Springfield	4.5% (±5.1 points)
12	Lynn Haven	3.1% (±2.7 points)

Showing 10 of 12 places in Bay County, ranked from highest to lowest.

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

Is it hard to find a rental in Panama City?

The rental vacancy rate in Panama City, FL is 9.2% (±2.8 points); a low rate means few rental homes stand empty and for rent at any time, which usually means more competition for each one.

Is the rental market in Panama City tighter than it was?

In Panama City, the rental vacancy rate went from 9.8% in 2015–2019 to 9.2% in 2020–2024 (−0.6 percentage points), not a measurable change.

How many homes are vacant in Panama City?

An estimated 1,935 (±307) housing units, 11.3% of the total, including seasonal homes and homes waiting to be sold or rented.

Sources

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 DP04_0005E, DP04_0005M from the 2019 release.

The API needs a free key.

Request a Census API key.

DP04_0005E, DP04_0005M, DP04_0004E, DP04_0004M, DP04_0003E, DP04_0003M, DP04_0003PE, DP04_0003PM

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.