Living in Panacea, Florida
Cost of living, income, home prices, rent and demographics of Panacea · Census data 2020–2024
Panacea has 894 residents with a median age of 56.1. The median household income is $37,983 (49% lower than the Florida median), the median home value is $105,600, the median rent is $959/month.
Panacea is a small town, so Census survey estimates have wide margins of error. Treat percentages as approximate.
Panacea at a glance
- Population
- 894
- Median age
- 56.1State: 42.6
- Median household income
- $37,983State: $74,568
- Median home value
- $105,600State: $359,000
- Median rent
- $959/moState: $1,669
- Homeowners
- 48.9%
- Bachelor's degree or higher
- 22.1%
- Average commute
- 20 min
Is Panacea a good place to live?
Pros: Home values 71% lower than the state median; an average commute of 20 minutes; a poverty rate of 5.7%.
Cons: Median household income 49% lower than the Florida median; unemployment of 18.5%.
The weather is best in March–April and October–November.
Cost of living in Panacea
Housing is the biggest part of the cost of living. In Panacea the median home value is $105,600, 68% lower than the U.S. median. Renters pay a median of $959 per month, which is 46.1% of household income. Homeowners with a mortgage pay — a month in housing costs.
Panacea median household income
The median household income in Panacea is $37,983 and the income per person is $19,360. 5.7% of residents live below the poverty line (Florida: 12.6%).
Housing in Panacea: homes for sale and rent
- Housing units
- 599
- Owner-occupied
- 48.9%
- Renter-occupied
- 51.1%
- Vacant
- 34.1%Includes seasonal homes
- Median year built
- 1974
- Average household size
- 2.26
34.1% of homes are vacant most of the year, a sign that Panacea has many vacation and second homes.
Panacea demographics
- Population
- 894
- Median age
- 56.1
- Under 18
- 16.9%
- 65 and older
- 27.5%
- Households
- 395
- Foreign-born
- 0%
- Veterans
- 4.2%Adults 18+
Hispanic or Latino can be of any race. Population history of Panacea ›
Education in Panacea
22.1% of adults 25 and older in Panacea have a bachelor's degree or higher (Florida: 34.1%), and 12.4% have a graduate or professional degree.
Jobs and commute in Panacea
- Unemployment rate
- 18.5%State: 4.8%
- Average commute
- 20 minState: 28 min
- Work from home
- 0%
- Drive alone
- 54.1%
- Public transit
- 0%
- Walk to work
- 20.8%
- Homes with broadband
- 85.8%
Panacea vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Panacea | 894 | $37,983 | $105,600 | $959 |
| Sopchoppy | 496 | $54,643 | $250,000 | $1,097 |
| Crawfordville | 5,732 | $82,656 | $255,500 | $1,344 |
| St. Marks | 243 | $62,321 | $256,300 | — |
| Carrabelle | 2,438 | $49,792 | $217,900 | $914 |
| Woodville | 3,722 | $53,772 | $164,800 | $1,022 |
| Fort Braden | 917 | $80,272 | $164,000 | $1,034 |
| Tallahassee | 201,875 | $57,409 | $294,400 | $1,293 |
| Wacissa | 355 | $64,534 | — | $1,225 |
More for people moving to Panacea
Panacea ZIP code ›Weather and climate ›Living in Panacea: FAQ
What is the median household income in Panacea, FL?
The median household income in Panacea is $37,983, 49% lower than the Florida median of $74,568 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Panacea?
The median home value in Panacea is $105,600, compared with $359,000 in Florida.
How much is rent in Panacea?
The median gross rent in Panacea is $959 per month, about 46.1% of household income.
Is Panacea, FL a good place to live?
Pluses: home values 71% lower than the state median; an average commute of 20 minutes; a poverty rate of 5.7%. Minuses: median household income 49% lower than the Florida median; unemployment of 18.5%.
What is the median age in Panacea?
The median age in Panacea is 56.1 years (Florida: 42.6).
How long is the commute in Panacea?
The average commute to work in Panacea is 20 minutes; 0% of workers work from home.
What is the unemployment rate in Panacea?
The unemployment rate in Panacea is 18.5% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Panacea?
22.1% of adults in Panacea have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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