Living in Panama City Beach, Florida
Cost of living, income, home prices, rent and demographics of Panama City Beach · Census data 2020–2024
Panama City Beach has 18,971 residents with a median age of 45.4. The median household income is $80,941 (9% higher than the Florida median), the median home value is $441,300, the median rent is $1,791/month.
Panama City Beach at a glance
- Population
- 18,971
- Median age
- 45.4State: 42.6
- Median household income
- $80,941State: $74,568
- Median home value
- $441,300State: $359,000
- Median rent
- $1,791/moState: $1,669
- Homeowners
- 59.2%
- Bachelor's degree or higher
- 38%
- Average commute
- 21 min
Is Panama City Beach a good place to live?
Pros: Median household income 9% higher than the Florida median; an average commute of 21 minutes; a poverty rate of 10%.
Cons: Home values 23% higher than the state median; unemployment of 5%.
The weather is best in March–April and October–November.
Cost of living in Panama City Beach
Housing is the biggest part of the cost of living. In Panama City Beach the median home value is $441,300, 33% higher than the U.S. median. Renters pay a median of $1,791 per month, which is 33.7% of household income. Homeowners with a mortgage pay $2,186 a month in housing costs.
Panama City Beach median household income
The median household income in Panama City Beach is $80,941 and the income per person is $52,188. 10% of residents live below the poverty line (Florida: 12.6%).
Housing in Panama City Beach: homes for sale and rent
- Housing units
- 21,204
- Owner-occupied
- 59.2%
- Renter-occupied
- 40.8%
- Vacant
- 58.9%Includes seasonal homes
- Median year built
- 2001
- Average household size
- 2.17
58.9% of homes are vacant most of the year, a sign that Panama City Beach has many vacation and second homes.
Panama City Beach demographics
- Population
- 18,971
- Median age
- 45.4
- Under 18
- 17.3%
- 65 and older
- 17.8%
- Households
- 8,713
- Foreign-born
- 10.4%
- Veterans
- 11.5%Adults 18+
Hispanic or Latino can be of any race. Population history of Panama City Beach ›
Education in Panama City Beach
38% of adults 25 and older in Panama City Beach have a bachelor's degree or higher (Florida: 34.1%), and 14.5% have a graduate or professional degree.
Jobs and commute in Panama City Beach
- Unemployment rate
- 5%State: 4.8%
- Average commute
- 21 minState: 28 min
- Work from home
- 13.2%
- Drive alone
- 73%
- Public transit
- 0.1%
- Walk to work
- 3%
- Homes with broadband
- 94.5%
Panama City Beach vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Panama City Beach | 18,971 | $80,941 | $441,300 | $1,791 |
| Laguna Beach | 3,830 | $76,607 | $438,100 | $1,266 |
| Upper Grand Lagoon | 17,232 | $82,157 | $373,200 | $1,667 |
| Lower Grand Lagoon | 4,287 | $74,044 | $397,200 | $1,323 |
| Pretty Bayou | 2,906 | $85,208 | $298,900 | $1,749 |
| Ebro | 229 | $78,036 | $191,700 | $967 |
| Lynn Haven | 20,081 | $80,973 | $320,000 | $1,563 |
| Cedar Grove | 3,802 | $74,625 | $176,100 | $1,420 |
| Springfield | 8,230 | $54,462 | $188,600 | $1,307 |
More for people moving to Panama City Beach
Panama City Beach ZIP code ›Weather and climate ›Living in Panama City Beach: FAQ
What is the median household income in Panama City Beach, FL?
The median household income in Panama City Beach is $80,941, 9% higher 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 Panama City Beach?
The median home value in Panama City Beach is $441,300, compared with $359,000 in Florida.
How much is rent in Panama City Beach?
The median gross rent in Panama City Beach is $1,791 per month, about 33.7% of household income.
Is Panama City Beach, FL a good place to live?
Pluses: median household income 9% higher than the Florida median; an average commute of 21 minutes; a poverty rate of 10%. Minuses: home values 23% higher than the state median; unemployment of 5%.
What is the median age in Panama City Beach?
The median age in Panama City Beach is 45.4 years (Florida: 42.6).
How long is the commute in Panama City Beach?
The average commute to work in Panama City Beach is 21 minutes; 13.2% of workers work from home.
What is the unemployment rate in Panama City Beach?
The unemployment rate in Panama City Beach is 5% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Panama City Beach?
38% of adults in Panama City Beach 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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