Cost of living in Panama City, Florida
Panama City, Florida has about 34,979 people. Typical rent is $1,327 a month, including utilities, and a typical household earns $62,265 a year. Both figures are Census 2020–2024 medians, not a listing or your pay. This site does not approve or deny benefits. A missing figure stays blank. We do not guess it.
Ranked #161 in Florida on the 2026 Most Affordable Towns Index.
Simple answer
Typical rent is $1,327 a month.
Panama City is a city in Florida. That rent number includes utilities. A typical household earns $62,265 a year.
- People
- 34,979
- Census average, 2020–2024
- Typical rent
- $1,327
- Median gross rent, includes utilities
- Typical pay
- $62,265
- Median household income, yearly
- Typical home
- $268,900
- Median home value
- 2-bedroom fair rent
- $1,651
- Panama City, FL HUD Metro FMR Area
Panama City, Florida has about 34,979 people. That count is a 2020–2024 Census average, not a headcount from one day.
A typical home is worth about $268,900.
HUD's fair-market rent for a 2-bedroom in Bay County is $1,651 a month. That is the county number, not an apartment listing in Panama City. It runs from October 2026 through September 2027.
In the Panama City-Panama City Beach, FL metro area, prices sit at 97.3 when the U.S. average is 100. That is a 2024 BEA index.
Florida does not tax wages. A typical combined sales tax is 7.0% as of January 1, 2026. That mix is statewide, not Panama City's exact store tax.
In July 2026, a typical Florida home paid 15.03¢ per kilowatt-hour. That is a state average from EIA, not Panama City's bill.
In 2025, all-grades gas in Florida averaged $3.06 a gallon. EIA prints this yearly price for only some states.
Among 730 places we list in Florida with a rent figure, 502 have higher typical rent than Panama City.
Nearby places
- Cedar Grove
Typical rent $1,420
Compare with Panama City - Pretty Bayou
Typical rent $1,749
Compare with Panama City - Springfield
Typical rent $1,307
Compare with Panama City - Parker
Typical rent $1,338
Compare with Panama City - Upper Grand Lagoon
Typical rent $1,667
Compare with Panama City - Lynn Haven
Typical rent $1,563
Compare with Panama City - Lower Grand Lagoon
Typical rent $1,323
Compare with Panama City - Callaway
Typical rent $1,322
Compare with Panama City
EBT nearby
USDA has a live map of stores that take SNAP. We did not copy that store list here. The downloadable file is a history file for 2005 through 2025, so the live map is the one to use.
Locator page updated 2026-09-11. Last checked 2026-10-16.
Food stamps (SNAP) tools in Florida
Bigger places in Florida
Census 2020-2024. HUD rents for October 2026–September 2027. BEA prices for 2024. Taxes as of January 1, 2026. Checked 2026-10-16. 15,000 places are in this guide.