Apartments for Rent in Panama City, FL

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What to Know About

Life in Panama City & Beyond

Panama City shares many of the great qualities that make Florida a desirable place to live.

Florida is a sunshine-filled state known for its beautiful beaches, warm weather, and world-famous theme parks like Walt Disney World, Universal Studios, and Sea World. From its iconic beaches to vibrant cities, you have a unique blend of outdoor adventure and urban excitement. Explore the state's past by visiting attractions like the Kennedy Space Center, the Museum of Florida History, or the Perez Art Museum Miami. In addition, Florida is home to renowned universities such as the University of Florida and Florida State University, University of Miami.

With hundreds of miles of sandy beaches, crystal-clear springs, and lush everglades, Florida is a paradise for visitors and residents alike. The state is also home to several professional sports teams, including the Miami Dolphins (NFL), Tampa Bay Buccaneers (NFL), Florida Panthers (NHL), Tampa Lighting (NHL), Miami Marlins (MLB), Orlando Magic (NBA), and Miami Heat (NBA). Experience all that Florida has to offer, from its stunning beaches and vibrant atmosphere to its rich traditions and thriving economy.

Discover the magic of living in Florida, where the sun shines bright, the economy thrives, and the quality of life is unparalleled, making it the perfect place to call home.

Rental Market Trends

Panama City, FL

As of May 2025, Panama City's rental market is competitive, with strong renter demand causing quick leasing times for well-priced units. Panama City's average rent is 18.4% ($397) lower than the Florida average of $2,161 and 1.6% ($29) lower than the U.S. average of $1,793.

Average Rent
$1,764
Monthly ChangeMonth Over Month Change
Decreased0.8% ($15)
Yearly ChangeYear Over Year Change
Increased4.6% ($78)
Avg. Days on MarketAverage Days on Market
39
Unit Type Average Rent Monthly ChangeMonth Over Month Change Yearly ChangeYear Over Year Change
1 Bed $1,423 Decreased2.7% ($40) Increased12.5% ($158)
2 Beds $1,734 Decreased0.6% ($11) Increased18.8% ($275)
3 Beds $2,107 Increased1.9% ($39) Increased19.9% ($350)
Nearby Cities Average Rent Avg. Rent vs. Panama CityAverage Rent vs. Panama City Avg. Days on MarketAverage Days on Market
Lynn Haven $1,786 Increased1.2% ($22) 37 days
Panama City Beach $2,040 Increased15.6% ($276) 39 days
Rental market trends are calculated using listing data from RentalSource.
Frequently Asked Questions
Panama City Rental Market FAQs

Explore rental prices, market trends, and availability in Panama City, FL.

The average rent in Panama City, FL is $1,764 per month.
Apartments in Panama City typically rent for between $996 and $2,739 per month, with an average of $1,764 per month.
In Panama City, the average rent for a 1-bedroom apartment is $1,423 per month, for a 2-bedroom apartment, $1,734 per month, and a 3-bedroom apartment is $2,107 per month.
The average rent in Panama City is 1.6% ($29) lower than the national average of $1,793 per month.
The average rent in Panama City has decreased by 0.8% ($15) in the last month and increased by 4.6% ($78) over the past year.
The rental market in Panama City, FL, is currently competitive, with strong renter demand causing quick leasing times for well-priced units.
In Panama City, FL, the average rental stays on the market for approximately 39 days. While most properties are rented within this timeframe, factors like seasonality, demand, and property type can affect how quickly a rental leases.
There are currently 169 rental properties available in Panama City, FL.
Based on the current averages, a household would need an annual income of $69,360 to comfortably afford a 2-bedroom apartment in Panama City.
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