Apartments for Rent in Panama City, FL

Prices and availability in Panama City, FL were last updated on 12 May 2026.

The best apartments in Panama City, FL are: Parkview at Lynn Haven, Mulberry Avenue, Evelyn Avenue, 1656 Caleigh Ct and Aztec Villa Apartments.

The average rent in Panama City, FL is $1,472.

The price range for a studio apartment in Panama City, FL is between $1,874 and $2,158.

The price range for a 1-bedroom apartment in Panama City, FL is between $973 and $1,953.

The price range for a 2-bedroom apartment in Panama City, FL is between $1,168 and $3,630.

The price range for a 3-bedroom apartment in Panama City, FL is between $1,225 and $2,950.

In Panama City, 45% of the residents are renting compared to 55% owning a home, according to data from the U.S. Census Bureau. Large-scale apartment buildings with more than 50 units represent 6% of Panama City's rentals, 63% are small-scale complexes with under 50 units, and 30% are single-family rentals.

The average age of rental buildings in Panama City is 17 years old, with 72% being newer apartment buildings completed since 2000. The average height of apartment buildings in the city is 3 stories, of which 97% are garden-style apartment communities, none are mid-sized buildings, and 3% are high-rises. These characteristics describe large-scale apartment communities of 50 apartments or more.

Rental apartments in Panama City come in a range of sizes and floorplans. Studio apartments represent 1% of units for rent, ideal for singles, renters on a budget and people who value central locations more than space. Rentals with 1-bedroom floorplans make up 31% of the total apartments in the city, while 2-bedroom floorplans represent around 50% of all rentals in Panama City. The rest are larger floorplans with 3 bedrooms or more, typically preferred by families, larger households or roommates sharing space.