2025 Compare Cities Housing:
Palm Bay, FL vs Panama City, FL

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Highlights
- The median age of a home in Palm Bay is 45.2% younger than the median age of a home in Panama City.
 Palm Bay, FLPanama City, FLUnited States
 Median Home Age31  Unlock42
 Median Home Cost  Unlock$252,800$338,100
 Home Appr. Last 12 months26.8%  Unlock16.6%
 Home Appr. Last 5 yrs.  Unlock84.5%57.0%
 Home Appr. Last 10 yrs.211.6%  Unlock101.1%
 Property Tax Rate  Unlock$6.9$11.0
 Homes Owned71.0%  Unlock57.4%
 Housing Vacant  Unlock9.9%11.2%
 Homes Rented19.7%  Unlock31.4%
 space
 Avg Rent For Home Or Apartment
 Palm Bay, FLPanama City, FLUnited States
 Average Rent  Unlock$1,650$1,840
 Studio Apartment$990  Unlock$1,080
 1 Bedroom Home or Apartment  Unlock$1,050$1,180
 2 Bedroom Home or Apartment$1,420  Unlock$1,430
 3 Bedroom Home or Apartment  Unlock$1,670$1,860
 4 Bedroom Home or Apartment$2,240  Unlock$2,160
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 Vacant Housing
 Palm Bay, FLPanama City, FLUnited States
 Vacant For Rent  Unlock1.4%1.9%
 Vacant Rented0.4%  Unlock0.4%
 Vacant For Sale  Unlock0.2%0.7%
 Vacant Sold0.5%  Unlock0.4%
 Vacant Vacation  Unlock1.7%3.6%
 Vacant Other2.3%  Unlock4.1%
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 Owner-Occupied Housing Value
 Palm Bay, FLPanama City, FLUnited States
 Less Than $20,000  Unlock2.0%2.6%
 $20,000 to $39,9990.8%  Unlock2.4%
 $40,000 to $59,999  Unlock5.3%2.8%
 $60,000 to $79,9992.8%  Unlock3.9%
 $80,000 to $99,999  Unlock8.6%4.5%
 $100,000 to $149,99915.3%  Unlock11.3%
 $150,000 to $199,999  Unlock20.6%13.0%
 $200,000 to $299,99931.5%  Unlock20.1%
 $300,000 to $399,999  Unlock9.4%13.6%
 $400,000 to $499,9991.5%  Unlock8.3%
 $500,000 to $749,999  Unlock2.3%9.7%
 $750,000 to $999,9990.5%  Unlock3.9%
 $1,000,000 to $1,499,999  Unlock0.9%2.2%
 $1,500,000 to $1,999,9990.0%  Unlock0.8%
 $2,000,000 and over  Unlock0.5%1.1%
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 Housing Units By Year Built
 Palm Bay, FLPanama City, FLUnited States
 2015 and Newer0.2%  Unlock0.2%
 2010 to 2014  Unlock10.2%13.6%
 2000 to 200926.6%  Unlock13.6%
 1990 to 1999  Unlock13.1%13.6%
 1980 to 198933.6%  Unlock13.2%
 1970 to 1979  Unlock15.1%14.8%
 1960 to 196917.9%  Unlock13.6%
 1950 to 1959  Unlock13.4%10.0%
 1940 to 19490.3%  Unlock4.7%
 1939 or Earlier  Unlock6.7%12.2%
Reviews for Palm Bay    27 Reviews

I moved to Palm Bay in 2020 and the cost of living has skyrocketed! A two bedroom apartment was around $900/month in 2020. Now it's $1600 and up. Mostly up. A three  More

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My family of 4 have lived here in NW Palm Bay for over 10 years. My wife and my son from another marriage lived here for over 7 before that. I myself have lived here for  More

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I lived in Palm Bay for 12 years. It's a very unfriendly and crowded place to live. It's well into the 90's from late April till right around the 10th of November. The  More

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Reviews for Panama City    20 Reviews

Over 3 years ago

I moved here from Akron, OH back in 2007 and was expecting a huge city (similar to Miami), nope, I was wrong. It ended up being more like a backwards redneck town more  More

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Over 4 years ago

If you love bars, trailers, isolation, and generic shopping while feeling depressed then this is the place for you. Panama City has alot of shallow people, most red  More

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This review is from a 24 year resident moved from Michigan. When I first moved, I missed the bigger city things like a university, large library, electronics stores, and  More

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