Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$342,9800.0% YoY · prices are flat
Market right nowBalanced, leaning buyersFewer homes for sale than last year, 21% have cut their price
Income needed to buy, per year$74,351About 1.0× the local median income ($74,428): affordable for a typical household
Days on market103 daysAbout the same pace as a year ago
Next 12 months−0.3%Zillow expects prices to stay about flat
The typical home in Panama City-Panama City Beach, FL is worth $342,980, about the same as a year ago. That is slightly below what local incomes have historically supported: fair value is about $350,183, so the area is 2.1% undervalued. It is a balanced market, leaning toward buyers: homes take about 103 days to sell, listings are down 3% from a year ago, 21% of listings have had a price cut. Zillow expects prices to fall about 0.3% over the next year. A household needs about $74,351 a year to afford the typical home here at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $74,428. Typical rent is $1,735 a month, or $2,142 for a house. In the latest IRS figures, 4,444 more people moved in than out.
Home value over time
Solid: typical home value · dashed: fair value (household income × the 20-year average price-to-income ratio). Sources: FHFA, Zillow, U.S. Census Bureau.
Prices and affordability
Typical home value
$342,980
Change in 1 year
0.0%
Overvalued %
−2.1%
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Fair home value
$350,183
Change in 5 years
+15.8%
Zillow forecast, next 12 months
−0.3%
Home value to income
4.6×
Monthly mortgage payment (20% down)
$1,859
Income needed to afford it
$74,351
Property tax rate
0.56%
Rent and investing
Typical rent
$1,735
Typical rent for houses
$2,142
Price-to-rent ratio
16.5×
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HUD Fair Market Rent, 2 bedrooms
$1,580
Gross rental yield
6.07%
Cap rate (estimate)
3.95%
Market activity
Listings vs a year ago
−3.3%
Days on market
103
Listings with a price cut
21.1%
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Homes for sale
2,849
Pending sales per 100 listings
19
Asking price per sq ft
$285
People and jobs
Median household income
$74,428
Population change (1 year)
+2.0%
Unemployment rate
3.9%
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Population
231,174
Income adjusted for cost of living
$76,493
Net moves in (IRS)
+4,444
Cost of living (US = 100)
97.3
Schools, risk and environment
School rating (1 to 10)
5.6
FEMA hazard risk score (0 to 100)
90.1
Unhealthy air days a year
0
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Flood risk score
72.4
Wildfire risk score
73.9
Walkability (1 to 20)
8.9
Road, rail and air noise
54 dB
Questions people ask
Is Panama City-Panama City Beach, FL overvalued?
Home prices in Panama City-Panama City Beach, FL are slightly below what local incomes have historically supported: fair value is about $350,183, so the area is 2.1% undervalued.
Is Panama City-Panama City Beach, FL a buyer's or seller's market?
Panama City-Panama City Beach, FL is a balanced market, leaning toward buyers: homes take about 103 days to sell, listings are down 3% from a year ago, 21% of listings have had a price cut.
Are home prices going down in Panama City-Panama City Beach, FL?
Home values in Panama City-Panama City Beach, FL are up 0.0% over the last year. Zillow's forecast for the next 12 months is −0.3%.
How much do you need to earn to buy a home in Panama City-Panama City Beach, FL?
A household needs about $74,351 a year to afford the typical home in Panama City-Panama City Beach, FL at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $74,428.