Similar to the surrounding areas, it's a bit less expensive compared to the rest of the nation. Compared to the city of Tallahassee, it's a little less expensive.
Home prices
The median home price in Panama City is $155,800. It is roughly $2,160 (1%) lower in comparison to its nearby areas.It is about $61,700 (28%) lower in comparison to the entire nation, and is about $48,000 (23%) lower compared to the city of Tallahassee.
Rents
In Panama City the median monthly rent is $945. It is about $25 (2%) lower compared to other places in this area.In comparison to the nation as a whole it is roughly $117 (11%) lower, and in comparison to the city of Tallahassee it is about $78 (7%) lower.
Nearby places
Cedar Grove
Cedar Grove is Panama City's neighbor to the southwest. The real estate prices there are a lot less expensive. Cedar Grove's median home value is $82,500, which is $73,300 (88%) lower than Panama City. The rent there is fairly similar. The median rent in Cedar Grove is $966 per month, which comes out to $21 (2%) higher than Panama City.
Springfield
Springfield is Panama City's neighbor to the south. Its real estate prices are a lot less expensive. The value of the median home in Springfield is $111,700, which comes out to $44,100 (39%) lower than Panama City. Rents there are a bit less expensive. Springfield's median monthly rent is $886, which comes out to $59 (6%) lower than Panama City.
Lynn Haven
Lynn Haven is Panama City's neighbor to the northwest. Its housing prices are a bit more expensive. The median home in Lynn Haven costs $200,100, which works out to $44,300 (22%) higher than Panama City. The rent there is a bit more expensive. In Lynn Haven the median monthly rent is $1,160, which works out to $215 (18%) higher than Panama City.
Pretty Bayou
Pretty Bayou is Panama City's neighbor to the west. Real estate prices there are a lot more expensive. Pretty Bayou's median home value is $254,400, which works out to $98,600 (38%) higher than Panama City. Rents there are a little less expensive. The median monthly rent in Pretty Bayou is $824, which works out to $121 (14%) lower than Panama City.
Parker
Parker is roughly 5 miles south of Panama City. The housing prices there are a bit less expensive. The median home in Parker costs $141,100, which is $14,700 (10%) lower than Panama City. Its rents are a bit more expensive. Parker's median monthly rent is $1,012, which works out to $67 (6%) higher than Panama City.
