Rentometer, Inc. | Data as of 10/22/2025
Panama City, Florida, blends vibrant waterfront living with a relaxed coastal charm, making it a sought‑after destination for renters craving both convenience and natural beauty. The city’s downtown district buzzes with dining, entertainment, and cultural venues, while nearby beaches such as St. Andrews State Park draw outdoor enthusiasts year‑round. Families and young professionals alike appreciate easy access to the historic Bay District, the bustling Bayfront district, and the scenic bayside trails that frame this Gulf‑coast gem.
The rental market in Panama City offers a balanced mix of apartments and single‑family homes that cater to a wide range of lifestyle needs. One‑bedroom apartments typically command rents in the $1300s, with two‑bedroom units moving toward the $1400‑$1500 range and larger three‑bedroom apartments nearing the $1700 level. For those preferring a house, studio‑style rentals start around the $1000 mark, one‑bedroom homes hover near $1000, while two‑ and three‑bedroom houses commonly fall within the $1500‑$2000 range. Larger families seeking four or more bedrooms can expect rents in the $2500 bracket, reflecting the added space and often premium locations.
Neighborhoods such as historic St. Andrews, upscale Bayfront, and the family‑friendly Riverside area each provide distinct rental experiences—from modern high‑rise apartments with marina views to charming single‑family homes nestled among mature oaks. Proximity to top‑rated schools, shopping centers like Gulf Coast Town Center, and recreational amenities ensures renters enjoy both convenience and a high quality of life. Whether you’re hunting for a sleek downtown loft or a spacious coastal home, Panama City’s rental landscape delivers diverse options in a thriving Florida market.
| Property Type | Bedrooms | Average | Median | Min - Max | 25th - 75th |
|---|---|---|---|---|---|
| Apartment | 1 Bedroom | $1,300 | $1,289 | $499 - $2,200 | $1,150 - $1,544 |
| Apartment | 2 Bedroom | $1,466 | $1,464 | $607 - $1,917 | $1,235 - $1,790 |
| Apartment | 3 Bedroom | $1,760 | $1,753 | $1,269 - $2,251 | $1,556 - $1,945 |
| House | Studio | $1,087 | $1,100 | $950 - $1,200 | $1,000 - $1,200 |
| House | 1 Bedroom | $12,456 | $1,000 | $500 - $81,500 | $600 - $1,300 |
| House | 2 Bedroom | $1,560 | $1,500 | $800 - $2,700 | $1,300 - $1,800 |
| House | 3 Bedroom | $2,025 | $2,000 | $1,200 - $3,100 | $1,750 - $2,200 |
| House | 4+ Bedroom | $2,503 | $2,400 | $1,500 - $3,500 | $2,250 - $2,800 |
In the current period, the average rent in Panama City was $1,051 for Studio, $4,193 for 1 Bedroom, $1,521 for 2 Bedroom, $1,989 for 3 Bedroom, and $2,469 for 4+ Bedroom.
Data provided by Rentometer, Inc.