Panama City, FL Rental Market Trends
Last updated: July 02, 2026 | Source: RentCafe Market Analysis, Yardi Matrix, U.S. Census Bureau
Highlights
The average rent for an apartment in Panama City is $1,534, a 1.52% decrease compared to the previous year, when the average rent was $1,558.
One-bedroom apartments provide 816 square feet for $1,281, balancing privacy and affordability.
Two-beedroom units at $1,532 offer 1,116 square feet, perfect for roommates or small families.
Three-bedroom apartments deliver maximum space (1,480 sq ft) for $1,900, suitable for larger households.
Average rent in Panama City, FL
Last updated: July 02, 2026
| Average Rent | Average Apartment Size | |
|---|---|---|
| All Rentals | $1,534 | 1,104 sq. ft. |
| Studio | n/a | n/a |
| 1 Bed | $1,281 | 816 sq. ft. |
| 2 Beds | $1,532 | 1,116 sq. ft. |
| 3 Beds | $1,900 | 1,480 sq. ft. |
Panama City, FL rent trends
Rental prices in Panama City, FL have decreased by 1.52% over the past year. The average rent moved from $1,558 to $1,534.
What's the typical rent budget in Panama City, FL?
The largest share of rentals in Panama City, FL (46%) fall between $1,501-$2,000 per month. This suggests that most people succesfully find suitable apartments within this price.
Do most people rent or own in Panama City, FL?
6,634 or 44% of the households in Panama City, FL are renter-occupied while 8,535 or 56% are owner-occupied.
Most affordable neighborhoods in Panama City?
Drummond $1,267/month
Forest Park $1,528/month
Lynn Haven $1,581/month
All of these neighborhoods fall below the city wide average of $1,534/month.Average Rent in Panama City, FL By Neighborhood
| Neighborhood | Average Rent |
|---|---|
| Panama City North | $1,826 |
| Monroeville | $1,607 |
| Lynn Haven | $1,581 |
| Forest Park | $1,528 |
| Drummond | $1,267 |
/
Panama City | Rent Comparison by Neighborhood
Rent in Drummond is 17% lower than in Forest Park
$1,267
Drummond rent is 17% lower than Panama City average
Average Rent
$1,267
$1,528
Forest Park rent is 1% lower than Panama City average
Average Rent
$1,528
How Panama City Compares to Other Cities
| City | Average Rent |
|---|---|
| Panama City | $1,534 |
| Jacksonville | $1,512 |
| Miami | $2,753 |
| Tampa | $2,016 |
| Kissimmee | $1,810 |
| Orlando | $1,803 |
| Cape Coral | $1,697 |
| Fort Myers | $1,730 |
| West Palm Beach | $2,475 |
| Miami Beach | $3,583 |
| St. Petersburg | $2,058 |
| Panama City Beach, FL | $1,688 |
| Fort Walton Beach, FL | $1,605 |
| Lynn Haven, FL | $1,581 |
| Destin, FL | $1,968 |
| Callaway, FL | $1,434 |
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.