Cost of Living in Panama City, FL
Population: 34,211 • 2026 Data
$61,125
Median Household Income
-21% vs national
$1,334
Median Monthly Rent
-1% vs national
$243,200
Median Home Value
-28% vs national
4.3%
Unemployment Rate
Housing in Panama City
The median home value in Panama City, FL is $243,200. Monthly rent for a typical unit averages $1,334, while total monthly housing costs (including utilities and insurance) average $1,285.
Rent-to-income ratio: 26.2%. This is within the recommended 30% threshold, suggesting housing is relatively affordable for median-income earners.
Income and Employment
The median household income in Panama City, FL is $61,125. The unemployment rate stands at 4.3%, with a labor force of 17,249 people.
Data Sources
All data from the US Census Bureau American Community Survey 5-Year Estimates. National median figures used for comparison context.