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Living in
Panama City.
About
Life in Panama City
If you're considering Panama City, understand that this is a working military and industrial town first, beach destination second. Federal employment and shipbuilding dominate the economy, which provides job stability but also means the community's character centers on these industries rather than tourism development. Cost of living is moderate—median home values around $269,000 and median rent near $1,334—with a strong unemployment rate of 4.2%, so finding work isn't typically the challenge.
Panama City at a Glance
Population, income, housing and more
Median Age
39.5 yrs
Poverty Rate
17.6%
Foreign-Born
10.0%
Broadband Internet
87.9%
of households
Population Growth
+14.3%
recent change · Census Bureau
Median household income
Demographics10.0% foreign-born, most often from Jamaica
Who lives in Panama City: race and ethnicity, ages, households, languages and countries of origin
In Panama City, the largest foreign-born group is from Jamaica (27.3%), and 7.2% of residents speak Spanish at home.
Under 18
21.7%
of residents
65 and Older
17.8%
of residents
Households with Kids
26.9%
anyone under 18
Living Alone
34.2%
of households
Married Couples
37.5%
of households
Avg Household Size
2.25
people
Race & Ethnicity
Hispanic or Latino of any race; other groups are non-Hispanic
Top countries of origin (foreign-born)
Languages Spoken at Home
Cost of Livingrent 20% below FL average
Rent, home values, and income in Panama City
In Panama City, rent runs 20% below the FL average, and home values are 25% below the FL average.
Median rent (per month)
Median home value
Rent Burdened
60.4%
spending 30%+ of income on rent
Severely Rent Burdened
21.9%
spending 50%+
Cost of Living Index
97.3
metro area (BEA) · US avg = 100
Median Property Tax
$1,752
per year, owner-occupied homes
Homeowners
56.3%
of occupied homes are owned
Typical Home Built
1976
median year built
Vacant Homes
11.3%
of housing units
Home Value Trend
Latest: $282,475 (September 2026)
Jobs & Economyunemployment about average for FL
Unemployment in Panama City
Unemployment in Panama City is close to the FL average.
Unemployment rate
City-level rate · BLS annual average
Unemployment Rate — 10 Year Trend
City-level (BLS) · Annual averages
What Panama City Residents Do for Work · share of employed residents by industry
City residents, wherever they work
Commute21.4 min avg
How Panama City residents get to work, and the nearest airports
In Panama City, most residents drive alone to work (73%), and 75% get there in under 30 minutes.
How People Get to Work
Commute Time Distribution
Nearest airports · with airline service
- 16 mi
Northwest Florida Beaches International Airport (ECP)
Small hub947k passengers boarded in 2025
Straight-line distance. Size is the FAA’s hub category, based on passenger traffic: regional airports may have only a few flights a day.
Safetyviolent crime 7% below national average
Crime rates for 2025
Violent crime in Panama City runs 7% below the national average.
Violent Crime Rate
306.7
per 100,000 residents
Below average (329 national, 2025)
Property Crime Rate
1,316
per 100,000 residents
Below average (1,552 national, 2025)
Panama City Police Department
Natural DisastersThunderstorm Wind most common — 16 events in 2025
Natural hazard risk, storms and earthquakes
FEMA National Risk Index
Relatively Moderate
94.1 / 100
Compares expected losses from natural hazards, social vulnerability and community resilience against every US county (higher = more risk).
Bay County, county-wide · FEMA NRI December 2025
In Bay County, which includes Panama City, the most common type is thunderstorm wind, with 16 recorded events in 2025.
Most common events:
Storm events by year
| Year | Events | Top Type | Property Damage |
|---|---|---|---|
| 2025 | 16 | Thunderstorm Wind | $640,000 |
| 2024 | 20 | Thunderstorm Wind | $20.5M |
| 2023 | 22 | Thunderstorm Wind | $247,000 |
| 2022 | 24 | Thunderstorm Wind | $747,000 |
| 2021 | 26 | Thunderstorm Wind | $1.8M |
| 2020 | 11 | Flash Flood | $1.1M |
| 2019 | 16 | Rip Current | $45,000 |
| 2018 | 25 | Thunderstorm Wind | $6900.0M |
Property damage is the National Weather Service's estimate filed with each event. “None reported” means the events were logged with $0 damage; “Not estimated” means no estimate was filed. Storms covering several counties aren't counted here, since NOAA doesn't split their damage by county.
0 earthquakes of magnitude 2.5+ within 100 miles in the past year
Bay County, county-wide
Air Quality44 median AQI — Good
Days by air quality category (2025)
Air quality in Bay County, which includes Panama City, is typically good — 239 good-air days per year.
Median AQI
44
Good Days
239
per year
Moderate Days
121
per year
Unhealthy Days
0
per year
Bay County, county-wide
Climate90°F summers, 45°F winters
30-year climate averages (1991–2020) — monthly temperatures and precipitation
Panama City has hot summers (avg high 90°F) and mild winters (avg low 45°F).
Spring (Mar–May)
79°/58°F
avg high / low
Summer (Jun–Aug)
90°/74°F
avg high / low
Fall (Sep–Nov)
82°/61°F
avg high / low
Winter (Dec–Feb)
66°/45°F
avg high / low
Annual Precipitation
69.1"
Annual Snowfall
0.0"
Hot Days/Year
67
days above 90°F
Freeze Days/Year
16
days below 32°F
Rainy Days/Year
100
Average month
Show month-by-month table ↓Hide table ↑
| Month | High | Low | Precip |
|---|---|---|---|
| Jan | 64°F | 43°F | 4.79" |
| Feb | 67°F | 46°F | 4.95" |
| Mar | 73°F | 52°F | 5.03" |
| Apr | 79°F | 58°F | 4.09" |
| May | 85°F | 66°F | 3.31" |
| Jun | 89°F | 73°F | 5.82" |
| Jul | 91°F | 75°F | 7.41" |
| Aug | 91°F | 75°F | 7.44" |
| Sep | 89°F | 71°F | 6.98" |
| Oct | 82°F | 61°F | 3.45" |
| Nov | 73°F | 50°F | 3.70" |
| Dec | 67°F | 45°F | 4.30" |
Healthcare3 hospitals, avg 2.5/5
Hospitals, ratings, and health insurance in Panama City
Panama City has 3 hospitals, averaging 2.5 out of 5 on CMS's quality rating — below-average care.
Hospitals
3
within city limits
Uninsured
17.8%
of residents
Avg Hospital Rating
2.5 / 5
Ascension Sacred Heart Bay
Acute Care Hospitals · ER available
HCA Florida Gulf Coast Hospital
Acute Care Hospitals · ER available
Emerald Coast Behavioral Hospital
Psychiatric
Adult Health · vs. the typical US place
Share of adults. Modeled estimates, not counted cases. “US” = the typical US place.
Medicare-certified hospitals only. Doesn’t include clinics, urgent care, or freestanding ERs.
Education16.8:1 student/teacher ratio
Schools and degree attainment in Panama City
Panama City's student/teacher ratio is 16.8:1 (higher than the national average of 16:1), and 26.4% of adults 25+ hold a bachelor's degree or higher.
Public Schools
22
within city limits
Private Schools
8
within city limits
College Degree Rate
26.4%
adults 25+ with bachelor's or higher
Student/Teacher Ratio
16.8:1
National avg 16:1
Schools located within city limits (2023) — school-level metrics change slowly year to year
Colleges & Universities in Panama City
Public · 2-year · 3,934 students · in-state tuition $2,370 · 38% graduate · median earnings $43,513 (10 yrs after entry)
Degree-granting colleges with 100+ students, placed by campus location (main campuses only — branch campuses are reported under their parent school)
Parks & Recreationclosest: Gulf Islands National Seashore, 98 mi
Nearby national parks, recreation areas and public libraries for Panama City
Panama City has 1 nearby national park or recreation area, closest being Gulf Islands National Seashore (98 mi away).
Nearby National Parks & Recreation Areas
Gulf Islands National Seashore
National Seashore
98 mi awayPublic Libraries in Panama City
Bay County Public Library
898 W 11th Street, Panama City
Cities Near Panama City
The closest cities within 60 miles
Planning a move to Panama City?
Read our full moving guide — what it's really like to live here.
Panama City FAQ
Is Panama City, Florida affordable?⌄
Panama City's median rent is $1,327/month, which is close to the national average. The median household income is $62,265/year. Median home value is $268,900.
Is Panama City, Florida safe?⌄
Panama City's violent crime rate was 307 per 100,000 residents in 2025, which is close to the national average of 329/100k that year. Property crime rate is 1316 per 100,000. As with any city, crime rates vary by neighborhood.
What is the job market like in Panama City, Florida?⌄
Panama City has an unemployment rate of 4.2%, which is close to the national average of 4.3%.
What is the cost of living in Panama City, Florida?⌄
The cost of living in Panama City is primarily driven by housing. Median rent is $1,327/month and median household income is $62,265/year. The median home value is $268,900. About 60% of renters spend more than 30% of their income on housing.
How is the commute in Panama City, Florida?⌄
The average commute in Panama City is 21 minutes, which is about average compared to the national average of 26 minutes.
Data from the US Census Bureau, BLS, FBI, NOAA, EPA, Zillow Research and other public sources. Where our data comes from