Located in Bay County, Florida, the Panama City Metro Area is a great place to live and work. It has a lower cost of living than other parts of the United States, with 2 bedroom rent averaging $1,300 compared to $1,430 nationally. Groceries are also less expensive here at 99 on the Cost Index versus 100 in the US. There are many well-known companies that provide employment opportunities in the area such as Gulf Power Company, Tyndall Air Force Base and Naval Support Activity Panama City. Other prominent employers include Walmart Distribution Center and Bay Medical Center. These businesses offer excellent growth opportunities for up-and-coming professionals in various industries.
Panama City Metro Area has an unemployment rate of 4.5%. The US average is 6.0%.
Panama City Metro Area has seen the job market increase by 2.0% over the last year. Future job growth over the next ten years is predicted to be 34.2%, which is higher than the US average of 33.5%.
Tax Rates for Panama City Metro Area
- The Sales Tax Rate for Panama City Metro Area is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Panama City Metro Area is 0.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Panama City Metro Area
- The average income of a Panama City Metro Area resident is $24,475 a year. The US average is $28,555 a year.
- The Median household income of a Panama City Metro Area resident is $60,473 a year. The US average is $69,021 a year.