Panama City housing market
Typical home value
$343K
■ 0.0% 1 yr
Typical rent
$1,735/mo
▲ 1.6% 1 yr
12-month forecast
−0.3%
#483 of 546 metros
Gross rent yield
6.1%
#249 of 546 · U.S. 6.3%
Days to pending
115 days
▲ +3 days 1 yr
Listings with a price cut
25%
▲ +1.7 pts 1 yr
Key takeaways
- 1The typical home is worth $342,980, up 0.0% in a year and up 16% over five years.
- 2Zillow forecasts home values falling 0.3% over the next 12 months (U.S.: +1.1%).
- 3Typical rent is $1,735/mo (+1.6% YoY), a 6.1% gross yield, below the U.S. 6.3%.
- 4At 7.32% with 20% down, the typical home costs $1,885/mo in principal and interest, $150 more than renting.
- 5Homes go under contract in 115 days (+3 days vs last year); 25% of listings have had a price cut.
Market temperature
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
How fast homes are selling
For saleNew listings
Affordability
To buy (20% down)To rent
Source: Zillow Research (ZHVI, ZORI and market activity data).
How Panama City compares
| Measure | Panama City | United States | Rank of 546 |
|---|---|---|---|
| Home value, 1-yr change | +0.0% | +1.2% | #454 |
| Home value, 5-yr change | +15.8% | +19.7% | |
| 12-month forecast | −0.3% | +1.1% | #483 |
| Rent, 1-yr change | +1.6% | +2.7% | #442 |
| Gross rent yield | 6.1% | 6.3% | #249 |
| Price-to-rent ratio | 16.5 | 15.8 | |
| Mortgage P&I on typical home | $1,885 | $2,012 | |
| Income needed to buy | $99,042 | $100,902 | |
| Days to pending | 115 | 56 |
Cities in the Panama City metro
5 cities with home value and rent data.
| Panama City | $282K | ▲ 1.1% | $1,655 | ▲ 0.6% | 7.0% |
| Panama City Beach | $415K | ▼ 0.7% | $1,759 | ▲ 1.8% | 5.1% |
| Lynn Haven | $322K | ▼ 0.3% | $1,857 | ▲ 0.4% | 6.9% |
| Callaway | $260K | ▲ 0.8% | $1,907 | ▲ 2.0% | 8.8% |
| Parker | $238K | ▲ 3.5% | $1,726 | ▲ 0.4% | 8.7% |
Run the numbers
Rental property calculator
Cash flow on a typical Panama City rental ($343K, $1,735/mo), pre-filled.
Mortgage calculator
Monthly payment on a typical Panama City home.
Rent vs buy
Is it cheaper to rent or buy in Panama City?
Renting out a property in Florida? See deposit limits, late fee rules and notice periods.
Other Florida metros
Miami, FL
$477K home$2,654 rent6.7% yield
▲ 0.3% 1 yr
Tampa, FL
$357K home$1,991 rent6.7% yield
▼ 0.9% 1 yr
Orlando, FL
$383K home$1,929 rent6.0% yield
▼ 1.4% 1 yr
Jacksonville, FL
$351K home$1,680 rent5.8% yield
▼ 0.1% 1 yr
North Port, FL
$404K home$2,106 rent6.3% yield
▼ 2.0% 1 yr
Cape Coral, FL
$334K home$1,827 rent6.6% yield
▼ 3.5% 1 yr
Lakeland, FL
$296K home$1,814 rent7.4% yield
▼ 2.2% 1 yr
Deltona, FL
$331K home$1,767 rent6.4% yield
▼ 0.3% 1 yr
Gross yield = 12 × typical rent ÷ typical home value, before expenses. Mortgage estimate: 20% down, 30-year fixed at the current Freddie Mac average, principal and interest only. Forecast: Zillow Home Value Forecast. Data refreshed Oct 26, 2026.