Median Age
40 Years
Largest Age Group
30-39 Years
Approximately 14% of Residents
Under 20
24%
Over 65
19%
Panama City, FL
Area Guide
Avg Rent
$1,215
Population
31,471
Renter Mix
45% Rent
Suburban living with a tropical twist
Suburban
•
Tropical
•
Scenic
Located along Florida's Emerald Coast, Panama City combines coastal living with Southern hospitality. The rental market offers various options, with one-bedroom apartments averaging $1,215 per month, while three-bedroom homes average $1,879. Recent trends show some softening in rental rates, with one-bedroom units experiencing a 4.5% decrease year-over-year. Notable areas include historic St. Andrews, featuring a waterfront district and weekly farmers' market, and the downtown area with its expanding arts scene and local shops. The presence of Florida State University Panama City and Gulf Coast State College adds to the city's educational landscape.
Panama City's location on St. Andrews Bay provides year-round opportunities for water recreation and outdoor activities. The city spans 36 square miles, featuring public parks, marinas, and green spaces throughout the community. Tyndall Air Force Base, a significant presence in the area, is undergoing a $5.3 billion renovation project. Local events celebrate the region's maritime heritage, while restaurants throughout the city serve fresh seafood and Southern cuisine. Recent development projects continue to enhance the area while preserving Panama City's historic character as an important port city.
Explore the City
Docks on Saint Andrews Bay stretch long so that homeowners can maintain access during low tide.
You will often find boats parked around the bay at Millville.
A colorful night sky over the Millville neighborhood.
Millville is a big boating neighborhood great for residents who love life on the water.
Downtown Panama City
Head to Asbell Park near Downtown North for beautiful lakeside views and a beachside park.
Demographics
Median Household Income
$51,867
Average: $67,001
Education
7,397
Residents Have a Degree
Job Market
14,071
Workers Employed
Age Distribution
Get a sense of this area's population profile.
Housing Distribution
Panama City has more homeowners than renters.
Renters
45%
Non-Renters
55%
Education Distribution
Review this city's overall education levels.
Bachelor's or Higher
18%
Other Education
82%
Rent Trends
As of May 2026, the average apartment rent in Panama City, FL is $834 for a studio, $1,217 for one bedroom, $1,484 for two bedrooms, and $1,793 for three bedrooms. Apartment rent in Panama City has decreased by -2.7% in the past year.
Property Type
Average Rent
Average Sq Ft
Apartment
$1,217/month
759 Sq Ft
House
$2,072/month
1,487 Sq Ft
Condo
$1,855/month
972 Sq Ft
Townhome
$1,534/month
1,128 Sq Ft
Getting Around
Explore how walkable, bikeable, drivable, and transit-friendly Panama City, FL is for everyday living.
Fairly Walkable
Walkability
50
/ 100
Limited Public Transit
Transit
30
/ 100
Exceptionally Drivable
Drivability
90
/ 100
Fairly Bikeable
Bikeability
50
/ 100
Scores provided by
Schools
University Academy (Sabl, Inc.)
Public
Grades K-8
717 Students
North Bay Haven Charter Academy Elementary School
Public
Grades K-5
695 Students
Hutchison Beach Elementary School
Public
Grades K-5
549 Students
Public
Grades K-12
336 Students
Public
Grades PK-12
1,645 Students
University Academy (Sabl, Inc.)
Public
Grades K-8
717 Students
Bay Haven Charter Middle School
Public
Grades 6-8
436 Students
North Bay Haven Charter Academy Middle School
Public
Grades 6-8
554 Students
Public
Grades K-12
336 Students
Public
Grades PK-12
1,645 Students
The Collegiate School at FSU Panama City
Public
Grades 9-12
277 Students
Public
Grades K-12
336 Students
North Bay Haven Career Academy
Public
Grades 9-12
886 Students
Public
Grades PK-12
1,645 Students
Palm Bay Preparatory Academy 6-12
Public
Grades 6-12
199 Students
School data provided by
The GreatSchools Rating helps parents compare schools within a state based on a variety of school quality indicators and provides a helpful picture of how effectively each school serves all of its students. Ratings are on a scale of 1 (below average) to 10 (above average) and can include test scores, college readiness, academic progress, advanced courses, equity, discipline and attendance data. We also advise parents to visit schools, consider other information on school performance and programs, and consider family needs as part of the school selection process.
View GreatSchools Rating Methodology
Data provided by
GreatSchools.org
© 2026. All rights reserved.
The GreatSchools Rating helps parents compare schools within a state based on a variety of school quality indicators and provides a helpful picture of how effectively each school serves all of its students. Ratings are on a scale of 1 (below average) to 10 (above average) and can include test scores, college readiness, academic progress, advanced courses, equity, discipline and attendance data. We also advise parents to visit schools, consider other information on school performance and programs, and consider family needs as part of the school selection process.
View GreatSchools Rating Methodology
Data provided by
GreatSchools.org
© 2026. All rights reserved.
Points of Interest
Shopping Centers
Parks and Recreation
- Science and Discovery Center of Northwest Florida
- St. Andrews State Park
Airports
- Northwest Florida Beaches International
Top Apartments in Panama City
Houses for Rent in Panama City
Property Management Companies in Panama City, FL
Arbor Properties
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18
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4,912
Units
-
7
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5 Communities in Panama City
Greystar
-
3,525
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969,267
Units
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898
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3 Communities in Panama City
Royal American Companies
-
28
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3,663
Units
-
23
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3 Communities in Panama City
The Gateway Companies
-
65
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7,021
Units
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55
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2 Communities in Panama City
Woodruff Real Estate Services, LLC
-
39
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6,011
Units
-
16
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2 Communities in Panama City
Professional Management, Inc
-
19
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3,197
Units
-
12
Cities
2 Communities in Panama City
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Methodology
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in February 2026.
Demographic information comes from Neustar and combines detailed address data with U.S. Census and American Community Survey statistics to produce reliable local estimates.