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2025 Compare Cities Housing:
Panama City, FL vs Key West, FL

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Highlights
- The median age of a home in Panama City is 20.0% younger than the median age of a home in Key West.
 Panama City, FLKey West, FLUnited States
 Median Home Age45  Unlock42
 Median Home Cost  Unlock$1,015,000$338,100
 Home Appr. Last 12 months25.0%  Unlock16.6%
 Home Appr. Last 5 yrs.  Unlock78.0%57.0%
 Home Appr. Last 10 yrs.136.4%  Unlock101.1%
 Property Tax Rate  Unlock$5.0$11.0
 Homes Owned49.2%  Unlock57.4%
 Housing Vacant  Unlock23.0%11.2%
 Homes Rented40.9%  Unlock31.4%
 space
 Avg Rent For Home Or Apartment
 Panama City, FLKey West, FLUnited States
 Average Rent  Unlock$4,830$1,840
 Studio Apartment$990  Unlock$1,080
 1 Bedroom Home or Apartment  Unlock$3,050$1,180
 2 Bedroom Home or Apartment$1,220  Unlock$1,430
 3 Bedroom Home or Apartment  Unlock$4,900$1,860
 4 Bedroom Home or Apartment$2,070  Unlock$2,160
 space1
 Vacant Housing
 Panama City, FLKey West, FLUnited States
 Vacant For Rent  Unlock7.6%1.9%
 Vacant Rented0.6%  Unlock0.4%
 Vacant For Sale  Unlock1.0%0.7%
 Vacant Sold0.2%  Unlock0.4%
 Vacant Vacation  Unlock10.1%3.6%
 Vacant Other5.7%  Unlock4.1%
 space2
 Owner-Occupied Housing Value
 Panama City, FLKey West, FLUnited States
 Less Than $20,000  Unlock0.6%2.6%
 $20,000 to $39,9991.7%  Unlock2.4%
 $40,000 to $59,999  Unlock0.8%2.8%
 $60,000 to $79,9993.6%  Unlock3.9%
 $80,000 to $99,999  Unlock0.2%4.5%
 $100,000 to $149,99915.3%  Unlock11.3%
 $150,000 to $199,999  Unlock0.7%13.0%
 $200,000 to $299,99923.4%  Unlock20.1%
 $300,000 to $399,999  Unlock7.4%13.6%
 $400,000 to $499,9994.4%  Unlock8.3%
 $500,000 to $749,999  Unlock28.7%9.7%
 $750,000 to $999,9991.6%  Unlock3.9%
 $1,000,000 to $1,499,999  Unlock8.8%2.2%
 $1,500,000 to $1,999,9990.3%  Unlock0.8%
 $2,000,000 and over  Unlock4.5%1.1%
 space3
 Housing Units By Year Built
 Panama City, FLKey West, FLUnited States
 2015 and Newer0.1%  Unlock0.2%
 2010 to 2014  Unlock6.6%13.6%
 2000 to 200910.2%  Unlock13.6%
 1990 to 1999  Unlock11.0%13.6%
 1980 to 198914.8%  Unlock13.2%
 1970 to 1979  Unlock9.8%14.8%
 1960 to 196913.1%  Unlock13.6%
 1950 to 1959  Unlock11.5%10.0%
 1940 to 194911.6%  Unlock4.7%
 1939 or Earlier  Unlock22.5%12.2%
Transportation
Reviews for Panama City    20 Reviews
Ryan · Stow, OH
Worst mistake ever
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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Ryan · Stow, OH
Red Neck City, FL
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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Lamont · Panama City, FL
Better wait until hurricane recovery is complete.
Over 6 years ago

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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Reviews for Key West    7 Reviews
Anthoney · Key West, FL
Real cost of living averages for Key West, FL.
Over 4 years ago

I was raised in Key West since 1980, these average cost prices for rent that you are seeing were not even accurate then, let alone now in 2021. The average cost of  More

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Tom · Arlington, TN
Key West
Over 9 years ago

Like the  More

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Anthony · Key West, FL
Cost of Living Inconsistency.
Over 11 years ago

I have lived in Key West for the last seven years. During that time, I have observed very little change in the cost of living. I work for a national company that pays  More

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Learn More About Panama City, Florida
Overview
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Learn More About Key West, Florida
Overview
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