Apartments for Rent in Panama City, FL - Rated by Verified Residents

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Average rent in Panama City, FL

$1,491/mo Panama City, FL average rental price, March 2025

The average monthly rent of apartments in Panama City, FL is $1,491.

Panama City, FL apartment rent ranges

Panama City, FL rent trends

Check out the average rent prices in Panama City by neighborhood.

Compared to the national average rent of $1,755, the average rent in Panama City, FL is $1,491.

Getting around in Panama City, FL

5 /100

Car-Dependent

26 /100

Somewhat Bikeable

Walk Score®: 5, Bike Score®: 26

Frequently asked questions

When were prices and availability in Panama City, FL last updated?

Prices and availability in Panama City, FL were last updated on 20 Apr 2025.

What are the best apartments in Panama City, FL?

The best apartments in Panama City, FL are: Turtle Lake, The Kelly at 23rd Luxury Apartments, Parkview at Lynn Haven, Panama City Warehouse and Siena Gardens Apartments.

What is the average rent in Panama City, FL?

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

What is the price range for a 1-bedroom apartment in Panama City, FL?

The price range for a 1-bedroom apartment in Panama City, FL is between $973 and $1,772.

What is the price range for a 2-bedroom apartment in Panama City, FL?

The price range for a 2-bedroom apartment in Panama City, FL is between $1,168 and $2,223.

What is the price range for a 3-bedroom apartment in Panama City, FL?

The price range for a 3-bedroom apartment in Panama City, FL is between $1,631 and $2,759.

What type of rental buildings are in Panama City, FL?

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.

What do typical apartment communities look like in Panama City, FL?

The age and size of multifamily buildings are among the most visible characteristics of the rental market in a city.  In this case, the apartment buildings in Panama City are about 16 years old, on average. Of these, 70% have been built since 2000, representing the newer options on the market and typically offering more amenities. Rental buildings in the city have an average height of 3 stories. About 97% of the rental communities here are low-rise, garden-style communities, none are mid-rises, and 3% are high-rise buildings. These are true especially for large-scale multifamily buildings with over 50 apartments.

What apartment floorplans are common in Panama City, FL?

Studio apartments in Panama City are around 1% of rentals, while 1-bedroom floor plans represent 32% of the total stock. For those in search of larger rentals, 2-bedroom floorplans make up 49% of all rentals. More generous apartments with 3 bedrooms or more are also available in this city for those in search of more space.

Panama City, FL in the news

Top Zip Codes Powering the New Apartment Surge: DC's 2002 Spearheads the Trend

Panama City is home to one of the fastest-growing zip codes for apartment development — 32405. Coming in fifth on our list, this area — which extends from Highland City to Pretty Bayou — recorded a remarkable 190% surge in construction.

Living in Panama City, FL

Panama City is a vibrant coastal city in the panhandle of Florida, known for having some of the best beaches in the world. This small city is home to a diverse community, multiple universities and many attractions, making it one of the best places to rent in Florida. The climate in Panama City is subtropical, which means that it’s typically hot and humid. Average temperatures range from the high 60s in the winter to the mid-80s in the summer. There’s also a fair amount of rain, but because it’s located in what’s known as a “banana belt,” Panama City has milder weather than other parts of the state. Additionally, four marinas and miles of coastline make Panama City one of the prime destinations for fishing, boating and a variety of water sports.

Renting in Panama City, FL

The rental market in Panama City has a variety of apartments, condos and houses available for different profiles of renters. Casco Viejo, El Cangrejo and Obarrio are popular tourist neighborhoods, so there are many apartments for rent in these areas that are near amenities and transit options. Meanwhile, renters looking for quiet, family-friendly neighborhoods can explore the apartments and rentals in Costa Del Este and Clayton & Brisas del Golf. Alternatively, those who want to live in luxury high-rise rentals with stunning views of the Pacific Ocean have multiple options available in neighborhoods like Punta Pacifica and San Francisco. Notably, Florida has no rent control laws, so landlords can increase rent freely on a year-to-year basis with prior notice. Renters also have to provide the required security deposit (usually one month’s rent) as long as the landlord maintains a habitable rental unit. The responsibility for paying utilities is agreed upon by both parties.

Shopping in Panama City, FL

Panama City offers a wide variety of stores and malls to explore. The most popular shopping district is located downtown, where you can find a mix of local shops and chain stores. In contrast, the boardwalk is where renters can buy souvenirs, beach items and sports products. The most popular mall is Panama City Mall, which is home to a selection of stores and restaurants. However, because the brand shopping options are limited here, renters can take a short drive to Pier Park — a major outdoor mall home to stores like The Buckle, Carter’s, Claire’s, JCPenney, Forever 21, Victoria’s Secret, Sephora and various restaurants. Target, Walmart, Sam’s Club, Kohl’s, Dillard’s, T.J. Maxx, and the local Winn-Dixie are grocery and home goods chains where renters shop daily.

Transportation in Panama City, FL

While several transportation methods are available, a car is the primary and fastest way of getting around in Panama City. Specifically, U.S. highways 98 and 231 and State Road 77 intersect in the city and give renters quick access in and out of the area. Otherwise, the bus system provided by The Bay Town Trolley is reliable and efficient, with several different routes to choose from. Renters in Panama City can also use the developed cycling and pedestrian infrastructure or opt for ridesharing services, like Uber and Lyft, to get around the city. Finally, the closest airport that provides flights to domestic and international destinations is Northwest Florida Beaches International Airport, which is 22 miles away.

Look for apartments near me

Are you looking to land that one apartment near you that ticks all the boxes? Now you can browse through available RentCafe apartment listings in your area, rated and reviewed by verified residents. Comparing the size, price, amenities and location of apartments for rent near you is easier than ever. Do you feel like expanding the search beyond your neighborhood and ZIP code? Browse apartments for rent in your city and state to find the best fit, wherever you are in the U.S. Somewhere out there is the perfect apartment just waiting for you.

Whether you're looking for a studio, an apartment with one or more bedrooms, or maybe you're upgrading to a luxury apartment or need to acommodate a pet, RentCafe allows you to easily search for a rental near you based on your criteria, anywhere in the U.S. So, let's find your new home today!

RentCafe is your one-stop shop for finding a great new apartment in Panama City, FL. Easily search through a wide selection of apartments for rent in Panama City, FL, and view detailed information about available rentals including floor plans, pricing, photos, amenities, interactive maps, and thorough property descriptions. Property owners and managers are one click away, so feel free to contact them and find out all you need to know about the apartment you’re interested in. Browse Panama City, FL apartments with rents starting from $973 and submit your rental application today!

Finding a home nearby is easier than you think. Check out our Apartments Near Me page and take your pick!

1 BED	$1,147+
2 BEDS	$1,266+
3 BEDS	$1,513+

1 BED	$1,457+
2 BEDS	$1,699+
3 BEDS	$2,100+

3 BEDS	$2,165
4 BEDS	$2,532

2 BEDS	Ask for Pricing
3 BEDS	Ask for Pricing
4 BEDS	Ask for Pricing

1 BED	$1,301+
2 BEDS	$1,565+
3 BEDS	$2,024+

1 BED	$1,323+
2 BEDS	$1,519+
3 BEDS	$2,050+

1 BED	$1,308+
2 BEDS	$1,528+
3 BEDS	$1,903+

STUDIO	$1,390
1 BED	$1,375+
2+ BEDS	$1,599+

1 BED	$1,328+
2 BEDS	$1,590+
3 BEDS	$1,798+

Apartments for Rent in Panama City, FL 101 Rentals Available

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