Arbor Crossing at Mill Bayou
198 Mill Bayou Blvd,
Panama City, FL 32404
$1,449 - $2,110
1-3 Beds
Panama City
Panama City, FL Area Guide
Suburban living with a tropical twist
Suburban
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Tropical
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Scenic
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Peaceful
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Affordable
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Nautical
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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.
Rent Trends
As of April 2026, the average apartment rent in Panama City, FL is $832 for a studio, $1,195 for one bedroom, $1,485 for two bedrooms, and $1,765 for three bedrooms. Apartment rent in Panama City has decreased by -6.3% in the past year.
Property Type
Average Rent
Average Sq Ft
Apartment
$1,195/month
760 Sq Ft
House
$2,142/month
1,485 Sq Ft
Condo
$1,826/month
1,099 Sq Ft
Townhome
$1,591/month
1,171 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
688 Students
North Bay Haven Charter Academy Elementary School
Public
Grades K-5
695 Students
Hutchison Beach Elementary School
Public
Grades K-5
621 Students
Public
Grades K-12
301 Students
Public
Grades PK-5
511 Students
University Academy (Sabl, Inc.)
Public
Grades K-8
688 Students
Bay Haven Charter Middle School
Public
Grades 6-8
433 Students
North Bay Haven Charter Academy Middle School
Public
Grades 6-8
524 Students
Public
Grades K-12
301 Students
Public
Grades PK-12
1,619 Students
The Collegiate School at FSU Panama City
Public
Grades 9-12
North Bay Haven Career Academy
Public
Grades 9-12
897 Students
Public
Grades K-12
301 Students
Public
Grades PK-12
1,619 Students
Palm Bay Preparatory Academy 6-12
Public
Grades 6-12
195 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
-
3,481
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958,134
Units
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891
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3 Communities in Panama City
Royal American Companies
-
30
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4,110
Units
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23
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3 Communities in Panama City
The Gateway Companies
-
71
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8,110
Units
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58
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2 Communities in Panama City
Woodruff Real Estate Services, LLC
-
39
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6,010
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-
16
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2 Communities in Panama City
Professional Management, Inc
-
19
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3,197
Units
-
12
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2 Communities in Panama City
Search Nearby Rentals
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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.