Panama City Beach, FL—32407
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Panama City Beach, FL
As of Oct '25, the median home price in Panama City Beach, FL is $399,000, with a year-over-year change of -7.3%. This indicates that home prices in Panama City Beach, FL are decreasing. According to Zillow, the 1-year price projection is 0.2%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $399,000 | -7.3% |
| Single Family | $376,000 | -5.3% |
| Condos | $423,000 | -9.8% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $322,000 | -11.5% |
2 Bed | $387,000 | -10.0% |
3 Bed | $415,000 | -5.3% |
4 Bed | $530,000 | -3.1% |
| 5 Bed | $656,000 | -2.7% |
% of Housing Stock
Rental Trends — Panama City Beach, FL
As of July '25, Rentcast reports the average rent in Panama City Beach, FL is $2,350, with a year-over-year rent change of -11.7%. Per bedroom, the median rent as of July '25 in Panama City Beach, FL is studios: $550, 1-bedrooms: $1,340, 2-bedrooms: $2,020, 3-bedrooms: $2,450, 4-bedrooms: $3,400. The most common rental property sizes in Panama City Beach, FL are 2-bedroom and 3-bedroom, accounting for 42.8% and 40.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,300 | $2,350 |
| Studio Rent | $550 | $550 |
| 1 Bed Rent | $1,320 | $1,340 |
| 2 Bed Rent | $1,900 | $2,020 |
| 3 Bed Rent | $2,400 | $2,450 |
| 4 Bed Rent | $3,500 | $3,400 |
% of Rental Stock
Property Listings — Panama City Beach, FL
As of Oct '25, Realtor.com reports that the median days on market for a home in Panama City Beach, FL is 125. This is a increase of 26.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 25.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $397,000 | -7.0% |
Listing Count | 541 | 1.0% |
| Listings as % of Homes | 2.7% | 1.0% |
Days on Market | 125 | 26.0% |
Demographics — Panama City Beach, FL
As of the latest ACS Survey released in 2023, Panama City Beach, FL has a population of 15,500, which has increased by 48.2% over the past 5 years. Panama City Beach, FL is a moderately popular place for families, as children make up 21.6% of the population. The area has a moderately educated workforce, with 39.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 15,500 | 48.2% |
% Under 18 | 21.6% | 40.3% |
% Seniors | 15.8% | 1.3% |
% WFH | 10.5% | 40.0% |
% w/ College Degree | 39.8% | 43.2% |
As of the latest ACS Survey released in 2023, Panama City Beach, FL is a predominantly white area, with 72.6% of the population identifying as white. The white population has shrunk by 9.8% in the last 5 years. The second most common race or ethnicity in Panama City Beach, FL is black, making up 10.4% of the population. Foreign-born residents account for 12.3% of the population in Panama City Beach, FL, and this percentage has increased by 7.9% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 72.6% | -9.8% |
% Black | 10.4% | 82.5% |
% Hispanic | 8.3% | -6.7% |
% Asian | 2.3% | -14.8% |
% Foreign Born | 12.3% | 7.9% |
Mortgage and Risk — Panama City Beach, FL
According to HUD data as of 2023, there were 371 mortgage originations in Panama City Beach, FL, of which 78.0% of loans were conventional mortgages. The average loan-to-value was 65.0%, with 21.0% above 90% LTV (very high). This implies large mortgage risk in Panama City Beach, FL. Investor activity is low, as 6.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 371 |
% Conventional Loans | 78.0% |
% Government Loans | 22.0% |
% Investor Loans | 6.0% |
% Second Loans | 16.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Panama City Beach, FL
As of 2024, the percent of homes in Panama City Beach, FL under the Section 8 program is 6.2%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Panama City Beach, FL, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 159 |
Total Units Section 8 | 159 |
% Rentals under Section 8 | 6.2% |
% Occupied Section 8 | 93.3% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $550 | $1,320 | $1,870 |
| 2 Bedroom | $290 | $1,900 | $2,190 |
| 3 Bedroom | $510 | $2,400 | $2,910 |
| 4 Bedroom | $180 | $3,500 | $3,680 |
Affordability — Panama City Beach, FL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.8 |
| Median Home Price | $399,000 |
| Median Household Income | $79,100 |