Panama City Beach, FL 32408 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

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Panama City Beach, FL—32408

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$367,000

7.4% YoY Growth

Household Income

$72,300

27.5% YoY Growth

Days on Market

120

10.0% Longer YoY

Home Price Forecast

1.0%

Median Rent

$1,950

18.6% YoY Growth

1-Bed Rent

$1,500

44.8% YoY Growth

2-Bed Rent

$1,750

12.2% YoY Growth

3-Bed Rent

$2,400

8.5% YoY Growth

Other Zip Codes in Panama City Beach, FL

Home Price Trends — Panama City Beach, FL

As of Dec '25, the median home price in Panama City Beach, FL is $367,000, 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 1.0%, suggesting a relatively flat housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$367,000	-7.4%
Single Family	$398,000	-5.9%
Condos	$344,000	-8.0%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

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

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% of Rental Stock

Studio

11.2%

1 Bedroom

14.9%

2 Bedrooms

45.0%

3 Bedrooms

27.3%

4 Bedrooms

1.5%

Property Listings — Panama City Beach, FL

As of Dec '25, Realtor.com reports that the median days on market for a home in Panama City Beach, FL is 123. This is a increase of 13.0% 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 21.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$399,000	-7.0%
Listing Count	745	0.0%
Listings as % of Homes	2.8%	0.0%
Days on Market	120	10.0%

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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%

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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%

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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%

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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