Panama City Beach, FL—32408
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 $370,000, with a year-over-year change of -7.4%. 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 | $370,000 | -7.4% |
| Single Family | $403,000 | -5.8% |
| Condos | $345,000 | -8.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $271,000 | -9.1% |
2 Bed | $372,000 | -8.4% |
3 Bed | $433,000 | -5.0% |
4 Bed | $633,000 | -3.5% |
| 5 Bed | $897,000 | -4.6% |
% of Housing Stock
Rental Trends — Panama City Beach, FL
As of July '25, Rentcast reports the average rent in Panama City Beach, FL is $2,100, with a year-over-year rent change of -18.6%. Per bedroom, the median rent as of July '25 in Panama City Beach, FL is studios: $1,380, 1-bedrooms: $1,540, 2-bedrooms: $1,730, 3-bedrooms: $2,570, 4-bedrooms: $2,760. The most common rental property sizes in Panama City Beach, FL are 2-bedroom and 3-bedroom, accounting for 45.0% and 27.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,950 | $2,100 |
| Studio Rent | $1,380 | $1,380 |
| 1 Bed Rent | $1,500 | $1,540 |
| 2 Bed Rent | $1,750 | $1,730 |
| 3 Bed Rent | $2,400 | $2,570 |
| 4 Bed Rent | $2,600 | $2,760 |
% 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 124. This is a increase of 11.0% 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 28.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $402,000 | -5.0% |
Listing Count | 813 | 4.0% |
| Listings as % of Homes | 2.8% | 4.0% |
Days on Market | 124 | 11.0% |
Demographics — Panama City Beach, FL
As of the latest ACS Survey released in 2023, Panama City Beach, FL has a population of 18,300, which has remained stable by 1.0% over the past 5 years. Panama City Beach, FL is a moderately popular place for families, as children make up 16.0% of the population. The area has a moderately educated workforce, with 38.6% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 18,300 | 1.0% |
% Under 18 | 16.0% | -23.4% |
% Seniors | 23.3% | 57.4% |
% WFH | 12.9% | 222.5% |
% w/ College Degree | 38.6% | 22.9% |
As of the latest ACS Survey released in 2023, Panama City Beach, FL is a predominantly white area, with 81.2% of the population identifying as white. The white population has shrunk by 6.7% in the last 5 years. The second most common race or ethnicity in Panama City Beach, FL is hispanic, making up 6.9% of the population. Foreign-born residents account for 10.8% of the population in Panama City Beach, FL, and this percentage has increased by 103.8% 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 | 81.2% | -6.7% |
% Black | 3.5% | 29.6% |
% Hispanic | 6.9% | 64.3% |
% Asian | 2.2% | -12.0% |
% Foreign Born | 10.8% | 103.8% |
Mortgage and Risk — Panama City Beach, FL
According to HUD data as of 2023, there were 704 mortgage originations in Panama City Beach, FL, of which 88.0% of loans were conventional mortgages. The average loan-to-value was 67.0%, with 15.0% above 90% LTV (elevated). This implies medium mortgage risk in Panama City Beach, FL. Investor activity is low, as 13.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 704 |
% Conventional Loans | 88.0% |
% Government Loans | 12.0% |
% Investor Loans | 13.0% |
% Second Loans | 33.0% |
% Cash Out Refinance | 7.0% |
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 0.3%. 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. 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Panama City Beach, FL, because HUD payments exceed market rent, while 1-bedroom and 2-bedroom and 3-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 48 |
Total Units Section 8 | 9 |
% Rentals under Section 8 | 0.3% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$150 | $1,500 | $1,350 |
| 2 Bedroom | -$170 | $1,750 | $1,580 |
| 3 Bedroom | -$300 | $2,400 | $2,100 |
| 4 Bedroom | $50 | $2,600 | $2,650 |
Affordability — Panama City Beach, FL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.9 |
| Median Home Price | $370,000 |
| Median Household Income | $72,300 |