Panama City Beach, FL (Zip Code 32407) is a popular beach town located in Bay County, Florida. It is home to many tourist attractions, such as St. Andrews State Park and Pier Park. With its gorgeous beaches, luxuriant vegetation and plentiful activities, it has become an important tourist spot. The housing market in Panama City Beach is flourishing; 2 bedroom rents are currently $1,660 which is above the US average of $1,430. Grocery Cost Index in Panama City Beach also exceeds the national average with 101 versus 100 respectively.
The local economy benefits from a range of industries like tourism and hospitality managed by companies such as Sandpiper Beacon Beach Resort, Bud & Alley’s Waterfront Restaurant & Bar and Shipwreck LTD Store & Marina. There are also many beach shops that cater to vacationers who flock to enjoy the white sand beaches on the Gulf of Mexico's Emerald Coast each year.
Panama City Beach (zip 32407) has an unemployment rate of 4.5%. The US average is 6.0%.
Panama City Beach (zip 32407) 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 34.3%, which is higher than the US average of 33.5%.
Tax Rates for Panama City Beach (zip 32407)
- The Sales Tax Rate for Panama City Beach (zip 32407) is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Panama City Beach (zip 32407) 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 Beach (zip 32407)
- The average income of a Panama City Beach (zip 32407) resident is $25,698 a year. The US average is $28,555 a year.
- The Median household income of a Panama City Beach (zip 32407) resident is $64,102 a year. The US average is $69,021 a year.