Panama City, FL Rental Market Trends
What is the average rent in Panama City?
The average rent for an apartment in Panama City is $1,491. The cost of rent varies depending on several factors, including location, size, and quality.
Average rent in Panama City, FL
Last updated March 2025
| Average Rent | Average Apartment Size |
|---|---|
| $1,491 | 1,054 sq. ft. |
What is the average apartment size in Panama City?
The average size for a Panama City, FL apartment is 1,054 square feet, but this number varies greatly depending on unit type, with cheap and luxury alternatives for houses and apartments alike. Studio apartments are the smallest and most affordable, 1-bedroom apartments are closer to the average, while 2-bedroom apartments and 3-bedroom apartments offer a more generous square footage.
Panama City, FL apartment rent ranges
Panama City, FL Occupied Housing Units
6,650 or 45% of the households in Panama City, FL are renter-occupied while 8,157 or 55% are owner-occupied.
Panama City, FL rent trends
Average Rent in Panama City, FL By Neighborhood
| City | Average Rent |
|---|---|
| Forest Park | $1,597 |
| Lynn Haven | $1,565 |
| The Woods | $1,514 |
| Drummond | $1,470 |
| Monroeville | $1,436 |
| Panama City North | $1,406 |
| Garden Club | $1,254 |
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What are the most affordable neighborhoods in Panama City?
The most affordable neighborhoods in Panama City are Garden Club, where the average rent goes for $1,254/month, Panama City North, where renters pay $1,406/mo on average, and Monroeville, where the average rent goes for $1,436/mo.
What are the most expensive neighborhoods in Panama City?
The most expensive neighborhoods in Panama City are The Woods ($1,514), Lynn Haven ($1,565) and Forest Park ($1,597).
What are the most popular neighborhoods in Panama City?
The most popular neighborhood in Panama City is Lynn Haven, where there are 3 listings with an average rent of $1,565. Next up is Monroeville, where apartments go for $1,436/month, followed by Drummond with $1,470 If you’re looking to rent in Panama City’s most popular neighborhoods, make sure to also check out Forest Park, where renters pay $1,597 on average, and Garden Club, where the average monthly rent is $1,254.
Panama City | Rent Comparison by Neighborhood
Rent in Drummond is 8% lower than in Forest Park
$1,470
Drummond rent is 1% lower than Panama City average
Average Rent
$1,470
$1,597
Forest Park rent is 7% higher than Panama City average
Average Rent
$1,597
How Panama City Compares to Other Cities
| State | Average Rent |
|---|---|
| Jacksonville | $1,495 |
| Miami | $2,707 |
| Tampa | $2,047 |
| Cape Coral | $1,919 |
| Kissimmee | $1,811 |
| Orlando | $1,842 |
| Fort Myers | $1,815 |
| Lakeland | $1,548 |
| Gainesville | $1,771 |
| Port St. Lucie | $2,108 |
| Panama City Beach | $1,692 |
| Panama City | $1,491 |
| Fort Walton Beach | $1,632 |
| Destin | $1,982 |
| Lynn Haven | $1,565 |
| Callaway | $1,419 |
| Springfield | $1,274 |
What is the average price for a storage unit in Panama City?
The average rent for a non-climate-controlled 10'x10' storage unit in Panama City is $92.33. Rental costs vary depending on several factors, including unit size and the storage facility's location and amenities.
Most Popular Apartments in Panama City
Turtle Lake
4324 West 20Th Street, Panama City, FL 32405| 1 BED | $1,147+ |
| 2 BEDS | $1,266+ |
| 3 BEDS | $1,513+ |
The Kelly At 23rd Luxury Apartments
2002 Wilson Avenue, Panama City, FL 32405| 1 BED | $1,457+ |
| 2 BEDS | $1,679+ |
| 3 BEDS | $2,100+ |
Parkview At Lynn Haven
1009 Parkview Drive, Lynn Haven, FL 32444| 3 BEDS | $1,950 |
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1320 Hwy 98 BUS E
Unit #109, Panama City, FL 32401| 2 BEDS | $1,925 |