Panama City, FL Rental Market Trends
Last updated: November 18, 2025 | Source: RentCafe Market Analysis, Yardi Matrix, U.S. Census Bureau
Highlights
The average rent for an apartment in Panama City is $1,551, a 0.33% decrease compared to the previous year, when the average rent was $1,556.
Studio Apartments at $899 offer the most budget-friendly option with 350 square feet, ideal for single renters prioritizing location over space.
One-bedroom apartments provide 817 square feet for $1,347, balancing privacy and affordability.
Two-beedroom units at $1,540 offer 1,118 square feet, perfect for roommates or small families.
Three-bedroom apartments deliver maximum space (1,483 sq ft) for $1,896, suitable for larger households.
Average rent in Panama City, FL
Last updated: November 18, 2025
| Average Rent | Average Apartment Size | |
|---|---|---|
| All Rentals | $1,551 | 1,098 sq. ft. |
| Studio | $899 | 350 sq. ft. |
| 1 Bed | $1,347 | 817 sq. ft. |
| 2 Beds | $1,540 | 1,118 sq. ft. |
| 3 Beds | $1,896 | 1,483 sq. ft. |
Panama City, FL rent trends
Rental prices in Panama City, FL have decreased by 0.33% over the past year. The average rent moved from $1,556 to $1,551.
What's the typical rent budget in Panama City, FL?
The largest share of rentals in Panama City, FL (43%) fall between $1,001-$1,500 per month. This suggests that most people succesfully find suitable apartments within this price.
Do most people rent or own in Panama City, FL?
6,650 or 45% of the households in Panama City, FL are renter-occupied while 8,157 or 55% are owner-occupied.
How Panama City Compares to Other Cities
| City | Average Rent |
|---|---|
| Panama City | $1,551 |
| Miami | $2,721 |
| Jacksonville | $1,495 |
| Tampa | $2,009 |
| Kissimmee | $1,821 |
| Fort Myers | $1,758 |
| Orlando | $1,802 |
| Cape Coral | $1,705 |
| Fort Lauderdale | $2,727 |
| St. Petersburg | $2,028 |
| West Palm Beach | $2,407 |
| Panama City Beach, FL | $1,750 |
| Fort Walton Beach, FL | $1,610 |
| Destin, FL | $1,965 |
| Lynn Haven, FL | $1,561 |
| Niceville, FL | $2,075 |
| Callaway, FL | $1,398 |
Where this data comes from
The rental statistics on this page were compiled by RentCafe.com, a nationwide apartment search website trusted by millions of renters to find apartments and houses for rent throughout the U.S.
Rent prices, trends, and apartment sizes were calculated based on data from our sister company, Yardi Matrix, an apartment market intelligence solution that covers approximately 90% of the U.S. metro area population. The data includes comprehensive information on all Panama City apartment buildings with 50 or more units, totaling 23.5 million apartments across 181 U.S. markets.
Housing composition data was sourced from the U.S. Census Bureau, using the most recently available information by tenure.