Housing costs in Panama City?
A typical home costs
$252,800, which is 25.2% less expensive than the national average of
$338,100 and 30.2% less expensive than the average Florida home, at
$362,400. Renting a two-bedroom unit in Panama City costs
$1,220 per month, which is 14.7% cheaper than the national average of
$1,430 and 27.9% cheaper than the state average of
$1,560.
Can I afford Panama City?
To live comfortably in Panama City, Florida, a minimum annual income of
$48,600 for a family, and
$42,000 for a single person is recommended.
What does A.I. say about Panama City?
The cost of living in Panama City, FL is relatively affordable compared to other cities in the United States. According to BestPlaces, the overall cost of living index is about 12% lower than the average for the United States. Specifically, housing costs tend to be significantly lower than the national average, with a one-bedroom apartment in the city center costing around $619 per month and a three-bedroom apartment outside of the city center costing about $859 per month. Groceries are also cheaper than average in Panama City, FL, at an estimated 8.25% lower than the national rate. Additionally, transportation and utility costs are also slightly below average. Overall, Panama City offers a great cost of living for those looking for affordability while still enjoying all that this coastal city has to offer.