Panama City, FL metro area
The Panama City metro area, officially Panama City-Panama City Beach, FL, is home to 231,174 people, up 29.0% since 2021. In 2025 its typical household earned $76,041, below the U.S. median of $84,780, and the median rent was $1,588 a month.
Compare Panama City with another metro ↗ See the national rent report ↗
What it takes to live here
Rent and home prices measured against what local households earn.
To keep rent at the common guideline of 30% of income, a household would need about $63,500 a year to afford the median rent in the Panama City area (U.S.: $62,300). In practice, the typical renter here spends 33.8% of household income on rent, the 63rd highest share of 393 metro areas, and 58% of renter households pay 30% or more (U.S.: 52%).
For buyers, the median home value of $338,400 is 4.5 times the median household income, compared with 4.4 times nationally.
How it has changed
Change since 2021 compared with the whole United States.
Since 2021, rent in the Panama City area has risen +27.7% while household income changed +25.6%. Rents have outpaced incomes, so renting has become less affordable.
| 2021 | 2024 | 2025 | Change since 2021 | |
|---|---|---|---|---|
| Median household income | $60,557 | $77,625 | $76,041 | +25.6% |
| Median rent | $1,244 | $1,543 | $1,588 | +27.7% |
| Median home value | $243,200 | $324,900 | $338,400 | +39.1% |
| Population | 179,168 | 226,221 | 231,174 | +29.0% |
Who lives and works here
Education, jobs and commuting compared with the national picture.
| Panama City | United States | |
|---|---|---|
| Median age | 41.7 | 39.5 |
| Adults 25+ with a bachelor’s degree or higher | 27.8% | 37.4% |
| Unemployment rate | 2.6% | 4.9% |
| Poverty rate | 10.2% | 11.8% |
| Workers who work from home | — | 12.9% |
| Average one-way commute | 27.3 min | 27.4 min |
| Households that rent | 31% | 35% |
Where Panama City ranks
Position among all 393 U.S. metropolitan areas with 2025 1-year data.
| Measure | Rank among 393 U.S. metro areas |
|---|---|
| Median household income | 197th highest |
| Median rent | 93rd highest |
| Median home value | 153rd highest |
| Rent as share of income | 63rd highest |
| Population | 211th largest |
| Population growth since 2021 | 6th fastest |
Similar-sized metro areas
The metros closest in population, side by side.
| Metro area | Income | Rent | Home value | Rent / income |
|---|---|---|---|---|
| Panama City, FL | $76,041 | $1,588 | $338,400 | 33.8% |
| Rochester, MN | $92,945 | $1,348 | $337,500 | 32.6% |
| Charlottesville, VA | $101,038 | $1,754 | $487,300 | 33.6% |
| Topeka, KS | $74,484 | $981 | $216,000 | 27.5% |
| Lafayette, IN | $66,677 | $1,225 | $283,400 | 32.3% |
| Las Cruces, NM | $68,321 | $965 | $257,700 | 27.1% |
| Barnstable Town, MA | $100,561 | $1,636 | $716,200 | 33.6% |
Panama City at a glance
What salary do you need to live in Panama City?+
To pay the 2025 median rent of $1,588 a month while spending no more than 30% of income on rent, a household needs about $63,500 a year. The median household income in the Panama City metro area is $76,041.
How much is rent in Panama City?+
The median gross rent (rent plus utilities) in the Panama City metro area was $1,588 a month in 2025, according to the Census Bureau, compared with $1,557 nationally. It has changed +27.7% since 2021.
Is Panama City affordable?+
Renters in the Panama City area spend a median 33.8% of income on rent (U.S. 30.9%), and the median home costs 4.5 times the median income (U.S. 4.4). By both measures it is more expensive than the national average.
What is the median household income in Panama City?+
$76,041 in 2025, +25.6% since 2021. That ranks 197th of 393 U.S. metro areas.
Source: U.S. Census Bureau, American Community Survey 2025 1-year estimates (released September 2026), with 2024 and 2021 for trends. Figures are survey estimates with margins of error; small differences between metros may not be meaningful. Metro areas use the official Metropolitan Statistical Area boundaries. Compiled and analyzed by Metro Research. Methodology.