Home Price Key
Affordable
Average
Expensive
These days, finding an affordable place to live in the Panama City area can be challenging. Home prices in Panama City are now at a median cost of $166,853, lower than the Florida average of $278,762.
The average cost of rent is $1,139/mo in Panama City, primarily driven by the current value of real estate in the Panama City area. While nearly 44.32% of residents own their homes outright in Panama City, 33.69% rent.
Housing affordability isn’t just about home prices, though. The average household income in Panama City is $4,811 per month. Households that rent pay about 23.67% of their income on rent here. Panama City's most expensive areas are in the southern regions, while the cheapest areas are in the southwestern parts of the city.
Nearby Cities
- Lynn Haven, FL: higher priced homes
- Springfield, FL: less expensive homes
- Pretty Bayou, FL: higher priced homes
- Southport, FL: higher priced homes
- Parker, FL: less expensive homes
- Callaway, FL: equally priced homes
- Upper Grand Lagoon, FL: higher priced homes
- Lower Grand Lagoon, FL: higher priced homes
- West Bay, FL: higher priced homes
- Youngstown, FL: equally priced homes
Cities with Similar Populations
- Arecibo, PR: less expensive homes
- Bentonville, AR: higher priced homes
- Chesterfield, VA: higher priced homes
- Coconut Creek, FL: higher priced homes
- Danville, CA: higher priced homes
- Davenport, FL: higher priced homes
- Elyria, OH: less expensive homes
- Florence, AL: equally priced homes
- Fountain Valley, CA: higher priced homes
- Piscataway, NJ: higher priced homes
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