Cost of Living,
Panama City's Real Estate Market
Panama City-Lynn Haven Metro Area
Profile: Beach town/Military town Location: Florida Panhandle on the Gulf Coast Elevation: 112 Time zone: Eastern Standard Time
|Water recreation ||Crime rates|
|Future job growth ||Tourist sprawl|
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Panama City is one of the more popular beach cities in the Florida Panhandle. The area has large white-sand beaches, particularly to the northwest in Panama City Beach (a separate city). Panama City Beach is a spring-break destination with a substantial tourist-oriented infrastructure including amusement parks. Its 1950’s-style beach strip appearance reflects its mostly lower-middle class clientele. The beaches themselves and the water are very attractive and create a prime destination for watersports enthusiasts. Nearby ocean currents support abundant marine life, and fishing and diving are popular.
Panama City has a modest industrial base and some historic interest. Lynn Haven is a mainly residential community with an interesting history as a planned residential “haven” for elderly Civil War veterans. It was developed by W.H. Lynn, a New York senator, just before World War I. Aside from tourism, the largest employer is the Tyndall Air Force Base. Cost of living and especially housing are reasonable for a Florida beach town, but both are on the rise. High crime rates, isolation from cultural and air service amenities, and tourist impact are the main downsides.
Panama City sits in an area of beaches, coastal dunes, and wet lowland. The interior contains numerous creeks, bays and forested swampland with a rich assortment of live oaks, magnolia, cypress, and pine. Climate is subtropical and mild but subject to occasional northern influences. The Gulf moderates summer heat. Average annual rainfall is high but monthly and yearly totals vary widely. Thunderstorms occur year-round, but most arrive in summer. Tropical storms occasionally affect the area.
Interesting Facts about Panama_City, Florida
As of 2014, Panama City's population is 36,153 people. Since 2000, it has had a population growth of -1.53 percent.--------------------
The median home cost in Panama City is $91,900. Home appreciation the last year has been 3.50 percent.--------------------
Compared to the rest of the country, Panama City's cost of living is 14.00% Lower than the U.S. average.--------------------
Panama City public schools spend $9,320 per student. The average school expenditure in the U.S. is $12,435. There are about 16.1 students per teacher in Panama City.--------------------
The unemployment rate in Panama City is 5.80 percent(U.S. avg. is 6.30%). Recent job growth is Positive. Panama City jobs have Increased by 2.22 percent.
Ranked #11 America's Most (and Least) Stressful Cities (117 Smallest Metro Areas)
Ranked #107 Best Green Cities
Ranked #108 America's Best and Worst Cities for Crime (Smallest Metro Areas)
Ranked #252 2005 Best Places to Live
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Average Commute time is 19 minutes. The National Average is 25 minutes.--------------------
Panama City's Real Estate Market (click to see properties)
• Newly Listed Homes
• Most Expensive Listing
• Million Dollar Houses
• Homes from $750,001 to $1,000,000
• Homes from $500,001 to $750,000
• Homes from $250,000 to $500,000
• Homes under $250,000
• Median Priced Homes