Panama City, FL Cost of Living

20 Reviews

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Panama City cost of living score
Less expensive
4.6% lower
than the US average
7.5% lower
than the Florida average
Panama City, Florida gets a BestPlaces Cost of Living score of 95.4, which means the total cost of housing, food, childcare, transportation, healthcare, taxes, and other necessities is 4.6% lower than the U.S. average and 7.5% lower than the average for Florida.

Panama City, FL

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.
   Cost of living score
     CategoriesPanama CityFloridaUnited States

   100=National Average

   Average Rent by Bedroom Size
Reviews for Panama City
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Over 2 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 3 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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