Panama City Beach today
What this means
Twelve month change in Panama City Beach: +0.5%, essentially flat, now 8.1% below the Aug 2022 peak.
Permits January to September 2026: 65 homes, 86% more than 2025.
Treat these as area figures and confirm rent with comps. Sources and method: how these figures are built.
Quick facts
| Panama City Beach | vs Bay County | vs Florida | |
|---|---|---|---|
| Population | 20,375 (2025 estimate) | ||
| Growth since 2020 | 12.7% | -4.0 pts | +3.8 pts |
| Median home value | $441,300 | 42% higher | 23% higher |
| Median gross rent | $1,791 | 21% higher | 7% higher |
| Median household income | $80,941 | 10% higher | 9% higher |
| Owner occupied homes | 59.2% | -7.6 pts | -8.4 pts |
| Residents 65 and older | 17.8% | -0.5 pts | -3.5 pts |
| Average commute (minutes) | 21 | 13% lower | 26% lower |
| Homes built 2010 or later | 15.6% | -1.4 pts | +1.4 pts |
| Median property tax paid | $2,579 | 43% higher | 6% lower |
Census survey figures are 2020 to 2024 averages; methods.
Living in Panama City Beach
Panhandle Gulf resort city with white sand beaches; beachfront resorts date to the 1930s and the city formed in 1970.
Panama City Beach is an incorporated city in Bay County, with its own zoning and rental rules.
Known for: St. Andrews State Park; Pier Park; Northwest Florida Beaches International Airport
Getting around and growth: A 2000s boom replaced many older motels with high rise condos; US 98 and Front Beach Road are the main routes.
Against the Bay County averages, more homes are seasonal or vacation homes (52.7% vs 19.4%); more of the housing is in apartment and condo buildings (66.5% vs 26.9%); the median value of $441,300 is above the county's $310,500 and the Census median rent is $1,791, above the county's $1,484.
Cities with similar prices and rents: West Palm Beach ($414,200, $1,772), Clermont ($418,400, $1,828), St. Augustine ($439,800, $1,653).
Growth and housing
Population went from 18,080 in 2020 to 20,375 in 2025 (12.7%), versus 16.7% for Bay County.
| 2025 building permits | Panama City Beach |
|---|---|
| Single family | 41 |
| 5 or more units | 6 |
| Total units | 47 |
| Per 1,000 residents | 2.3 |
Half the homes are older than 2001. This is a multifamily heavy market (66.5% in buildings of 5+ units). Average household size is 2.17.
Each year about 7.7% of residents arrive from other states.
Risks to price in
| Risk item | Detail |
|---|---|
| County average homeowners insurance with wind | $3,465 a year |
| Hurricanes tied to Bay County since 2000 | Michael (2018) |
| Coastal county | check flood zone and elevation per address |
53.4% of homes are in buildings of 20 or more units; condo reserves and inspections decide financing. Condo financing
Flood, storms and jobs
The city earned Community Rating System class 5; federal flood policies in its high risk zones cost 25% less. 444 flood claims ($11,999,207) have come from Panama City Beach since 2000. For county flood claims, disaster history and jobs, see the Bay County guide (13.2% of homes there are in high risk zones).
Buying a home in Panama City Beach
| 2026 loan limits (county) | Amount |
|---|---|
| FHA, one unit | $541,287 |
| Conforming, one unit | $832,750 |
| Median home value here | $441,300 |
Homes cost 5.5 times median household income here (Bay County 4.2, Florida 4.8).
- Conventional: mortgage insurance drops off as equity builds.
- FHA: works for the typical $441,300 home here.
- VA: veterans are 11.5% of adults.
Investing in Panama City Beach
Long term rentals
| Panama City Beach | vs Bay County | |
|---|---|---|
| Renter occupied homes | 40.8% | +7.6 pts |
| Rental vacancy | 18.6% | +6.9 pts |
| Rent as share of renter income | 33.7% | +0.2 pts |
Short term rentals
Panama City Beach is one of Florida's vacation rental markets: 52.7% of homes are held for seasonal or vacation use.
| Short term rental taxes | Rate |
|---|---|
| County tourist development tax | 5% |
| State sales tax | 6% plus any county surtax |
Confirm zoning, registration and HOA rules for the exact address. State rules
Property types
| Housing stock | Share |
|---|---|
| Single family detached | 25% |
| Buildings with 5+ units | 66.5% |
| Manufactured homes | 1.4% |
Nearby
Other Florida markets
Sources
- U.S. Census Bureau, American Community Survey 2020 to 2024 5 year estimates. 2020 to 2024.
- U.S. Census Bureau, Population Estimates, Vintage 2025. July 1, 2025.
- U.S. Census Bureau, Building Permits Survey, 2025 annual. 2025.
- FFIEC HMDA Data Browser, originated loans. 2025 and 2024.
- LendingTree: 2026 FHA loan limits in Florida by county (HUD figures). 2026.
- Florida Realtors: FHFA sets 2026 conforming loan limits. 2026.
- Florida Office of Economic and Demographic Research: 2026 local option tourist tax rates. 2026.
- Florida Office of Insurance Regulation, July 2026 Insurance Stability Unit report (average homeowners premium with wind, as of March 31, 2026). March 31, 2026.
- Freddie Mac Primary Mortgage Market Survey. week of October 22, 2026.
- Wikipedia: List of counties in Florida. checked October 2026.
- U.S. Census Bureau county adjacency file. 2024.
- Wikipedia county article and statewide lists (colleges, teams, airports); Florida Defense Support Task Force installation map. checked October 2026.
- Wikipedia article for this place (history, setting, roads). checked October 2026.
- Zillow Home Value Index (ZHVI), all homes, middle tier, smoothed and seasonally adjusted. September 2026.
- Federal Housing Finance Agency House Price Index (county annual, metro and state quarterly, all transactions). through Q2 2026.
- U.S. Census Bureau, Building Permits Survey, January to September 2026 and 2025. September 2026.
- FEMA OpenFEMA, NFIP Residential Penetration Rates. as of August 2026.
- FEMA OpenFEMA, FIMA NFIP Redacted Claims (2000 to 2026). as of September 2026.
- FEMA OpenFEMA, NFIP Community Status Book (Community Rating System class). August 2026.
- FEMA OpenFEMA, Disaster Declarations Summaries (2000 to 2026). October 2026.
- U.S. Census Bureau, County Business Patterns 2023. 2023.
- U.S. Census Bureau, ACS 2020 to 2024, median gross rent by bedrooms (B25031). 2020 to 2024.
- Hurricane landfalls: Wikipedia, List of Florida hurricanes (2000 to present). checked October 2026.
Estimates from public data; they change over time. General information, not investment, tax or legal advice, and not a loan offer. Methods and assumptions.