Bedroom count
Property type
Last updated on May 24, 2026
Average rent in
Panama City, FL
Average rent in
Last updated on May 24, 2026
Bedroom count
Property type
Key takeaways for renters
The bottom line
Panama City, FL rent rose 3.1% year over year, with a current median of $1,650/month. Renters today are paying $67 more per month on average than last year, continuing a steady climb since the trough in May 2025.
Compared to national trends
Panama City sits 15.4% more affordable than the $1,950/month national median, with a total of 207 rentals offering a smaller but accessible market for renters.
Price ranges
Studios in Panama City run around $1,325/month, 1-bedrooms around $1,200/month, and 2-bedrooms around $1,250/month, while 3-bedrooms reach $1,850/month and 4+ bedrooms $2,350/month. Houses rent for a median of $1,850/month, compared to apartments at $1,313/month.
Median rent
Median rent in Panama City
$1,650/mo
3%vs previous year
The average rent in Panama City is $1,650 per month as of May 2026. This is 15% below the national average rent, or $300 less per month.
average price per square foot
Total rentals
Available rentals in Panama City
207
for rent on Zumper.com as of May 2026
Rent price distribution
Share of Panama City rentals at each price point
Rent trends in Panama City, FL
Average rent prices in Panama City have increased by 2% over the last month and have increased by 3% since last year.
Rent trends
Rent prices on this page are calculated on a rolling 30-day basis and updated daily.
Compare rent prices in
Panama City, FL
Rent prices in Panama City vary by bedroom size, rental type, and neighborhood. The average rent for an apartment in Panama City is $1,313, whereas a house costs $1,850. 1-bedroom apartments in Panama City run $1,258 on average, while 2-bedroom apartments are $1,200.
Listings | ||||
|---|---|---|---|---|
Studio | $1,325 | 2% | 438% | |
1 bedroom | $1,200 | 2% | 1% | |
2 bedroom | $1,250 | 2% |  16% | |
3 bedroom | $1,850 | 13% | 8% | |
4 bedroom | $2,350 | 4% | 16% |
Listings | ||
|---|---|---|
Bay View | $1,825 | |
Bunkers Cove | $1,395 | |
Cedar Creek | $2,260 | |
Gwaltney Estate | $1,826 | |
Indian Bluff Estates | $2,100 | |
Lake Merial | $1,875 | |
Magnolia Hills | $1,545 | |
Mayfield | $1,650 | |
Old Orchard | $1,500 | |
Venetian Villas | $1,800 |
Listings | ||||
|---|---|---|---|---|
Apartments | $1,313 | 11% | No Change | |
Condos | $1,800 | No Change | No Change | |
Houses | $1,850 | 2% | No Change |
Studio
Average rent
$1,325
Last 30 days
2%
Last year
438%
1 bedroom
Average rent
$1,200
Last 30 days
2%
Last year
1%
2 bedroom
Average rent
$1,250
Last 30 days
2%
Last year
16%
3 bedroom
Average rent
$1,850
Last 30 days
13%
Last year
8%
4 bedroom
Average rent
$2,350
Last 30 days
4%
Last year
16%
Bunkers Cove
Average rent
$1,395
Mayfield
Average rent
$1,650
Bay View
Average rent
$1,825
Venetian Villas
Average rent
$1,800
Magnolia Hills
Average rent
$1,545
Indian Bluff Estates
Average rent
$2,100
Lake Merial
Average rent
$1,875
Cedar Creek
Average rent
$2,260
Gwaltney Estate
Average rent
$1,826
Old Orchard
Average rent
$1,500
Apartments
Average rent
$1,313
Last 30 days
11%
Condos
Average rent
$1,800
Last 30 days
No Change
Houses
Average rent
$1,850
Last 30 days
2%
The table above reflects average rent prices in Panama City, FL, broken down by the number of bedrooms, neighborhoods, and property types. The availability of data for each category is dependent on market inventory and will adjust depending on your selected filters.
How does rent in Panama City, FL compare to other cities?
Compare median rent prices in Panama City and Callaway by all bedroom counts and property types.
Panama City
15%lower than the national median
3%higher than the national median
Takeaway
The median rent for all rentals in Panama City, FL is 18% lower than the median rent in Callaway, FL.
Average rent in nearby cities
Explore rent trends in neighboring markets
$2,000
4%$1,650
$1,925
1%$1,870
21%$2,088
58%$2,050
6%$2,400
38%$1,575
8%$1,752
54%$1,725
16%$1,500
$1,800
7%Discover rentals in Panama City, FL
5d+ ago
Apartment for rent in Panama City
2128 2128 W 29th A/b Court, Panama City, FL 32405
Studio
0 baths
$400
Apartment for rent
2d ago
Mayfield apartment for rent in Panama City
1527 Grace Ave #B, Panama City, FL 32405
2 beds
1 bath
$850
Apartment for rent
5d+ ago
Condo for rent in Panama City
2 beds
1 bath
$975
Condo for rent
Available Apr 23
1d ago
3519 E 1st Ct, Panama City, FL 32401
2 beds
1 bath
$995
Apartment for rent
1d ago
1128 S Gay Ave, Panama City, FL 32404
3 beds
1–2 baths
$20,000–$94,995
Apartment for rent
2d ago
Verified
5 beds
3 baths
$19,996
$19,677
Price drop
Apartment for rent
5d+ ago
Condo for rent in Panama City
703 W 15th St #A, Panama City, FL 32401
Studio
0 baths
$17,500
Condo for rent
5d+ ago
Condo for rent in Panama City
5102 Northbay Drive, Panama City, FL 32401
Studio
0 baths
$12,714
Condo for rent
16h ago
Verified
2401 Stanford Road, Panama City, FL 32405
1–3 beds
1–2 baths
$1,386–$1,940
Apartment for rent
Available Apr 5
23h ago
Verified
1105 Clara Ave, Panama City, FL 32407
Studio–3 beds
1–2 baths
$1,399–$2,350
Apartment for rent
1d ago
Verified
2002 Wilson Ave, Panama City, FL 32405
1–3 beds
1–2 baths
$1,445–$4,288
Apartment for rent
5d+ ago
Verified
4 beds
2 baths
$1,949
House for rent
Available Jun 21
16h ago
Verified
2401 Stanford Road, Panama City, FL 32405
1–3 beds
1–2 baths
$1,386–$1,940
Apartment for rent
Available Apr 5
23h ago
Verified
1105 Clara Ave, Panama City, FL 32407
Studio–3 beds
1–2 baths
$1,399–$2,350
Apartment for rent
1d ago
Verified
2002 Wilson Ave, Panama City, FL 32405
1–3 beds
1–2 baths
$1,445–$4,288
Apartment for rent
5d+ ago
Verified
4 beds
2 baths
$1,949
House for rent
Available Jun 21
23h ago
Verified
1105 Clara Ave, Panama City, FL 32407
Studio–3 beds
1–2 baths
$1,399–$2,350
Apartment for rent
1d ago
Verified
2002 Wilson Ave, Panama City, FL 32405
1–3 beds
1–2 baths
$1,445–$4,288
Apartment for rent
5d+ ago
Verified
4 beds
2 baths
$1,949
House for rent
Available Jun 21
2d ago
Verified
5 beds
3 baths
$19,996
$19,677
Price drop
Apartment for rent
Stay up to date with rental market insights
Are you interested in licensing our current and historical rental real estate data, or do you have custom data requests? Contact datalicensing@zumper.com.
Frequently asked questions for Panama City, FL
Quick answers to common questions about the Panama City rental market.
How much is rent in Panama City?
The average rent in Panama City is $1,650 per month as of May 23, 2026.
Is rent up or down in Panama City?
Average rent prices in Panama City have increased by 2% over the last month and have increased by 3% since last year.
How does Panama City rent compare to the national average?
Rent in Panama City is 15% below the national average, which means renters are paying approximately $300 less per month.
Which neighborhoods are most affordable in Panama City?
The most affordable neighborhoods in Panama City are Bunkers Cove ($1,395/mo), Old Orchard ($1,500/mo), and Magnolia Hills ($1,545/mo).
What salary do I need to afford rent in Panama City?
To comfortably afford rent in Panama City, you'd need to earn approximately $66,000/year, based on spending no more than 30% of your income on rent.
When is the best time of year to rent in Panama City?
Panama City's 2025 rental market shows one-bedroom apartments averaging around $1,300 per month, while two-bedroom units average around $1,400 monthly. Two-bedroom apartments represent the largest segment of available rentals at 37% of listings, making them relatively easy to find in the current market.
Methodology
Rent prices are based on Zumper's rental listings from the past 30 days. Median rent is calculated across all available listings and property types on the platform. If you filter the page by bedroom count or property type, the pricing throughout the page will update automatically to reflect that segment of the rental market.
Household and population data come from the U.S. Census Bureau. Cost-of-living data is sourced from the Council for Community and Economic Research's Cost of Living Index (COLI).