Panama City Beach, FL
Population 18,493 · Florida
About Panama City Beach, FL
Panama City Beach is a mid-sized city located in Florida with a population of 18,493 residents according to the latest US Census Bureau American Community Survey data. The median household income is $78,921 per year, which is 5% above the national median of $75,149. The median age of 45.2 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Panama City Beach features a median home value of $417,800, which is 71% above the national median of $244,900. This places Panama City Beach in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $1,737, 49% above the national average of $1,163/month. Of the 21,078 total housing units, 62% are owner-occupied (5,259 units) and 38% are renter-occupied (3,211 units). The balanced mix of owners and renters indicates a diverse housing market.
Economy & Employment
The local economy in Panama City Beach shows an unemployment rate of 2.5%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 8.2%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Panama City Beach have an average one-way commute time of 23.8 minutes.
Education & Demographics
36.8% of Panama City Beach residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 1.6% White, 2.3% Hispanic or Latino, 1.9% Black or African American, and 4.4% Asian residents, with 10.7% of the population being foreign-born.
Cost of Living in Panama City Beach, FL
Compared to national averages, Panama City Beach has a median household income of $78,921 (5% above the national median of $75,149). Home values average $417,800, which is 71% above the national median. Monthly rent at $1,737 is 49% above the US average of $1,163. Within Florida, Panama City Beach's income is 4% above the state average of $75,893, and home values are 18% above the state median of $353,675.
Why Live in Panama City Beach, FL?
Panama City Beach offers a strong local economy with a median household income of $78,921, well above the national average, and a strong job market with an unemployment rate of just 2.5%, and a well-educated community where 36.8% of residents hold a bachelor’s degree or higher. Additionally, the city features a low poverty rate of 8.2%, better than the national average, and short commute times averaging just 23.8 minutes.
Potential considerations include a competitive housing market where the typical home costs $417,800. However, Panama City Beach’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Panama City Beach has a population of 18,493 with a median age of 45.2 years. Compare Panama City Beach with other cities to see how it stacks up, or explore all cities in Florida.
Similar Cities Near Panama City Beach
Cities in Florida with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Glenvar Heights | 18,488 | $71,067 | $496,200 | Compare |
| Zephyrhills | 18,471 | $49,295 | $191,700 | Compare |
| Bayshore Gardens | 18,324 | $50,896 | $160,700 | Compare |
| Country Walk | 18,693 | $118,881 | $489,400 | Compare |
| San Carlos Park | 18,252 | $80,109 | $284,900 | Compare |
| Gibsonton | 18,831 | $74,049 | $274,300 | Compare |
| Pinecrest | 18,138 | $192,477 | $1,179,400 | Compare |
| Stuart | 18,058 | $64,409 | $291,300 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Florida
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Panama City Beach With Other Cities
Frequently Asked Questions about Panama City Beach
What is the population of Panama City Beach, FL?
The population of Panama City Beach, FL is 18,493 according to the latest US Census Bureau American Community Survey estimates. This makes it a mid-sized city in Florida.
What is the median household income in Panama City Beach?
The median household income in Panama City Beach, FL is $78,921 per year, which is 5% above the national median of $75,149.
What is the median home value in Panama City Beach?
The median home value in Panama City Beach, FL is $417,800, which is 71% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Panama City Beach?
The median monthly rent in Panama City Beach, FL is $1,737, which is 49% above the national average of $1,163/month.
What is the unemployment rate in Panama City Beach?
The unemployment rate in Panama City Beach, FL is 2.5%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Panama City Beach, FL a good place to live?
Panama City Beach offers above-average incomes, a competitive housing market, and a strong job market. With a population of 18,493 and a median age of 45.2, the city appeals to established professionals and retirees.
How educated is Panama City Beach, FL?
36.8% of residents in Panama City Beach aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Panama City Beach?
Key cost-of-living indicators for Panama City Beach, FL: median home value is $417,800 (71% above national), median rent is $1,737/month, and median household income is $78,921. The home-value-to-income ratio is 5.3x, a moderate figure by national standards.
What is the poverty rate in Panama City Beach?
The poverty rate in Panama City Beach, FL is 8.2%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Panama City Beach, FL?
Panama City Beach's population is 1.6% White, 2.3% Hispanic or Latino, 1.9% Black or African American, 4.4% Asian, and 7.1% two or more races. 10.7% of residents are foreign-born.