At a Glance
Median Income
$61,125
$36,398 per capita
Home Value
$243,200
Zillow: $284,369
Median Rent
$1,334/mo
33.2% of income on rent
Bachelor's Degree+
25.5%
89.3% high school+
Unemployment
4.4%
14.2% poverty rate
Obesity Rate
36.4%
17.6% smoking rate
How Panama City Compares to the U.S. Average
Each bar shows Panama City's value as a percentage of the national average (100% = U.S. avg)
Thin vertical line = U.S. national average (100%)
Is Panama City a Good Place to Live?
B+
3.6 / 5.0 - Good
Based on economy, affordability, safety, and education metrics compared to national averages.
Economy & Jobs
Panama City residents earn a median household income of $61,125 , which is 19% below the national average of $75,149.
Per capita income is $36,398. The unemployment rate stands at 4.4% (22% above the U.S. rate of 3.6%). 14.2% of residents live below the poverty line. The area is home to 6,848 business establishments, including 563 restaurants.
Housing & Cost of Living
The median home value in Panama City is $243,200 , 14% below the national median of $281,900.
Zillow estimates the typical home at $284,369. Median rent is $1,334/month, with 33.2% of renters spending more than 30% of income on housing. The cost of living index is 103.4 (100 = national average). The median home was built in 1977.
Education
25.5% of adults in Panama City hold a bachelor's degree or higher
(24% below the national average).
89.3% have completed high school. Local schools score 5.8/10 in standardized testing.
Climate & Weather
Panama City has an average annual temperature of 70°F (21°C).
Winters average 54°F in January while summers reach 83°F in July. Annual precipitation totals 61.3 inches.
Data Overview
People
Population34,211
Median Age38.6 yrs
Density965/mi²
Male / Female48% / 52%
Foreign Born8.7%
Veterans10.8%
Economy
B
Median Income$61,125
Per Capita$36,398
Unemployment4.4%
Poverty14.2%
County GDP$13,467M
Avg Weekly Wage$1,027
Housing
A
Home Value$243,200
Rent$1,334
Ownership55.1%
Zillow$284,369
Housing Units16,117
Rent Burden33.2%
Health
Obesity36.4%
Diabetes12.1%
Smoking17.6%
Heart Disease6.7%
Premature Death11,538/100K
Climate
Avg Temp70°F
Rain61.3 in/yr
Elevation36 ft
Education
B
Bachelor's+25.5%
High School+89.3%
Graduate+9.4%
School Score5.8/10
Community
2024 VoteR 73% / D 26%
Commute21 min
Broadband86.5%
Internet Speed240 Mbps
EV Stations18
Libraries4
Did You Know?
Panama City was founded in 1909.
The median home in Panama City was built in 1977.
The nearest airport is Northwest Florida Beaches International (15 miles).
The Gini coefficient (income inequality) is 0.441 (U.S. avg: 0.490).
Natural hazard risk is rated "Relatively Moderate" by FEMA.
20.0% of the population has a disability.
Average internet download speed is 240 Mbps.
There are 563 restaurants in the area.
The county recorded 46 fatal vehicle crashes.
182 declared natural disasters on record.