Panama City, FL housing market
Typical home value
$282K
▲ 1.1% 1 yr
Typical rent
$1,655/mo
▲ 0.6% 1 yr
Gross rent yield
7.0%
U.S. 6.3%
5-year home value change
+23%
U.S. +20%
Key takeaways
- 1The typical home in Panama City is worth $282,475, up 1.1% over the past year and up 23% over five years.
- 2Typical rent is $1,655 a month (+0.6% YoY), a gross rent yield of 7.0% (above the Panama City, FL metro's 6.1%).
- 3With 20% down at 7.32%, principal and interest on the typical home is about $1,552/mo, $103 less than typical rent.
- 4Zillow forecasts the Panama City, FL metro's home values to change −0.3% over the next 12 months.
Market temperature (Panama City, FL metro)
Buyer's market
Buyer'sNeutralSeller's
Zillow Market Heat Index: 30/100, #440 hottest of 546 metros. Below 44 favors buyers; above 55 favors sellers.
Home values and rent
Source: Zillow Research (ZHVI, ZORI and market activity data).
How Panama City compares
| Measure | Panama City | Panama City, FL metro | United States |
|---|---|---|---|
| Typical home value | $282,475 | $342,980 | $366,157 |
| Home value, 1-yr change | +1.1% | +0.0% | +1.2% |
| Typical rent | $1,655 | $1,735 | $1,932 |
| Rent, 1-yr change | +0.6% | +1.6% | +2.7% |
| Gross rent yield | 7.0% | 6.1% | 6.3% |
| Price-to-rent ratio | 14.2 | 16.5 | 15.8 |
| Mortgage P&I, typical home | $1,552 | $1,885 | $2,012 |
Run the numbers
Rental property calculator
Cash flow on a typical Panama City rental, pre-filled.
Rent vs buy in Panama City
Which costs less over the years you'll stay.
Mortgage calculator
Monthly payment on a $282K home.
Landlord in Florida? See Florida deposit, late fee and notice rules.
Other cities in the Panama City, FL metro
Panama City Beach, FL
$415K home$1,759 rent
▼ 0.7% 1 yr
Lynn Haven, FL
$322K home$1,857 rent
▼ 0.3% 1 yr
Callaway, FL
$260K home$1,907 rent
▲ 0.8% 1 yr
Parker, FL
$238K home$1,726 rent
▲ 3.5% 1 yr
City figures are Zillow's typical home value (ZHVI) and observed rent (ZORI). Gross yield is before expenses. Data refreshed Oct 26, 2026.