Cost of living in Panama City, FL
The Panama City-Panama City Beach, FL metro area (226,221 people) ranks #84 of 149 for prices among the U.S. metro areas we cover. Here's what it costs to live there.
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Price level, from cheaper to pricier.
- The Villages, FL 85.4
- McAllen, TX 85.9
- Springfield, MO 88.6
- Wichita, KS 88.9
- Jackson, MS 89.0
- Tulsa, OK 89.2
- Columbus, GA 89.3
- Little Rock, AR 89.4
- El Paso, TX 89.9
- Oklahoma City, OK 90.4
- Sioux Falls, SD 90.6
- Baton Rouge, LA 90.8
- Clarksville, TN 90.9
- Fargo, ND 90.9
- Killeen, TX 91.1
- Spartanburg, SC 91.1
- Fayetteville, AR 91.4
- Chattanooga, TN 91.5
- Toledo, OH 91.5
- Birmingham, AL 91.6
- Des Moines, IA 91.7
- Augusta, GA 91.9
- Omaha, NE 91.9
- Fayetteville, NC 92.0
- Winston-Salem, NC 92.0
- Jacksonville, NC 92.1
- Memphis, TN 92.2
- Kansas City, MO 92.5
- Fort Wayne, IN 92.6
- Knoxville, TN 92.6
- New Orleans, LA 92.6
- Dayton, OH 92.7
- Greensboro, NC 92.9
- Lexington, KY 92.9
- Huntsville, AL 93.1
- Louisville, KY 93.1
- Greenville, SC 93.3
- Akron, OH 93.4
- Billings, MT 93.5
- Myrtle Beach, SC 93.6
- Columbia, SC 93.7
- Cleveland, OH 93.9
- Daphne, AL 94.7
- Pittsburgh, PA 94.7
- San Antonio, TX 94.7
- St. Louis, MO 95.1
- Ocala, FL 95.2
- Savannah, GA 95.2
- Cincinnati, OH 95.4
- Albuquerque, NM 95.5
- Columbus, OH 95.5
- Grand Rapids, MI 95.5
- Indianapolis, IN 95.7
- Syracuse, NY 95.7
- Buffalo, NY 95.8
- Nashville, TN 96.3
- Wilmington, NC 96.4
- Asheville, NC 96.5
- Cheyenne, WY 96.5
- Gainesville, FL 96.7
- Milwaukee, WI 96.9
- Tucson, AZ 96.9
- Crestview, FL 97.0
- Rochester, NY 97.0
- Lakeland, FL 97.1
- Charlotte, NC 97.3
- Madison, WI 97.3
- Panama City, FL 97.3
- Durham, NC 97.6
- Pensacola, FL 97.7
- Richmond, VA 97.9
- Virginia Beach, VA 97.9
- Hilton Head Island, SC 98.0
- Austin, TX 98.1
- Provo, UT 98.2
- Raleigh, NC 98.2
- Prescott, AZ 98.3
- Boise, ID 98.4
- Houston, TX 98.6
- Harrisburg, PA 98.7
- Daytona Beach, FL 99.4
- Jacksonville, FL 99.5
- Albany, NY 99.6
- Allentown, PA 100.0
- Palm Bay, FL 100.0
- Atlanta, GA 100.1
- Greeley, CO 100.2
- Las Vegas, NV 100.2
- Port St. Lucie, FL 100.2
- Detroit, MI 100.3
- Ogden, UT 100.3
- Spokane, WA 100.3
- Norwich, CT 100.4
- Punta Gorda, FL 100.5
- Colorado Springs, CO 100.7
- Ann Arbor, MI 100.9
- Bakersfield, CA 100.9
- Burlington, VT 100.9
- Salt Lake City, UT 100.9
- Tampa, FL 100.9
- Charleston, SC 101.0
- Reno, NV 101.0
- Fort Collins, CO 101.1
- Orlando, FL 101.4
- Eugene, OR 101.6
- Providence, RI 101.8
- Portland, ME 101.9
- Fresno, CA 102.2
- Cape Coral, FL 102.3
- Sarasota, FL 102.4
- Worcester, MA 102.5
- Philadelphia, PA 102.6
- Hartford, CT 102.7
- Dallas, TX 103.1
- Naples, FL 103.2
- Trenton, NJ 103.2
- Phoenix, AZ 103.3
- Bend, OR 103.6
- Chicago, IL 103.6
- Olympia, WA 103.7
- Baltimore, MD 104.5
- New Haven, CT 104.6
- Minneapolis, MN 104.8
- Stockton, CA 105.1
- Boulder, CO 105.2
- Anchorage, AK 105.4
- Portland, OR 105.4
- Bremerton, WA 105.6
- Manchester, NH 105.7
- Denver, CO 105.8
- Riverside, CA 106.4
- Sacramento, CA 106.7
- Bridgeport, CT 106.9
- Santa Rosa, CA 107.8
- Boston, MA 108.3
- Vallejo, CA 108.5
- Santa Barbara, CA 108.8
- Washington, D.C. 108.9
- Salinas, CA 109.0
- Poughkeepsie, NY 109.4
- San Jose, CA 110.4
- Oxnard, CA 110.5
- Honolulu, HI 111.0
- Seattle, WA 111.1
- San Diego, CA 111.9
- New York, NY 112.6
- Los Angeles, CA 113.6
- Miami, FL 114.2
- San Francisco, CA 115.6
Compare Panama City with your city
See what you'd need to earn in Panama City to keep your lifestyle, after taxes and local prices. The calculator starts from Crestview, FL, which sends the most households here of the metros we cover (IRS, 2022–2023), at about its median household income. Pick your own city and salary.
Equal salary in Panama City: $80,300
Compare any two of 149 U.S. metro areas. All cities
To keep the same lifestyle, you need about $80,300 in Panama City, FL to match $80,000 in Crestview, FL ($300 more), after 2026 taxes and local prices.
Single filer, W-2 salary. Both are in Florida, which has no state income tax on wages; neither city levies a resident income tax.
What things cost in Panama City
The vertical line marks the U.S. average (100). BEA Regional Price Parities 2024 for the metropolitan area.
Taxes in Panama City
On an $80,000 salary (about the area's median household income), a single filer keeps $65,110 after 2026 federal tax ($8,770), Social Security and Medicare ($6,120). Florida has no state income tax on wages.
Housing
| Measure | Panama City area |
|---|---|
| Median rent | $1,543/mo |
| Median home value | $324,900 |
| Median property tax | $1,903/yr |
| Monthly cost to own the median home (20% down) | $2,087 |
| Median household income | $77,625 |
Climate and jobs in Panama City
In the Panama City area the average January low is 43°F and the average July high 91°F, and the area has about 67 days a year at 90°F or hotter. Unemployment averaged 4.0% in 2025, below the U.S. rate (4.3%), and the median wage across all jobs was $45,030 a year, 12% below the U.S. median.
| Climate | 1991–2020 average |
|---|---|
| January low | 43°F |
| July high | 91°F |
| Days 90°F or hotter | 67 a year |
| Precipitation | 61 in a year |
| Snowfall | 0 in a year |
| Jobs and pay | Metro area | U.S. |
|---|---|---|
| Unemployment rate, 2025 average | 4.0% | 4.3% |
| Median wage, all jobs (May 2025) | $45,030 | $50,980 |
| Wage and salary jobs (May 2025) | 90,610 | 155.5 million |
Climate: NOAA U.S. Climate Normals, 1991–2020 averages at the Panama City 5N station (USC00086842). Weather varies across a metro area, especially with elevation and distance from the coast. Jobs: unemployment from BLS Local Area Unemployment Statistics; wages and job counts from BLS Occupational Employment and Wage Statistics, which count wage and salary jobs, not the self-employed; wages are before taxes. The 2025 average covers 11 months: October 2025 data were not collected during the federal government shutdown.
Retiring in Panama City
A single retiree spends about $3,065 a month here if they own their home outright, or $4,155 renting, based on typical spending for households 65 and older (BLS 2024) adjusted for local prices. See where your budget goes furthest.
Where people move to and from Panama City
IRS county-to-county migration data, 2022–2023, aggregated to the 149 metro areas we cover.
Natural hazard risk
FEMA rates the Panama City area among the highest for natural hazard risk (score 89.7 of 100), with expected losses of about $881 per resident per year. Disaster risk by county in Florida.
The vertical line marks the middle of U.S. counties (50).
Frequently asked questions
What salary do you need to live in Panama City?
To match the buying power of $75,000 in an average-priced area with no state income tax, you need about $72,600 in Panama City. Renting the median home at 30% of income takes $61,720, and buying the median home with 20% down takes about $89,434.
Is Panama City expensive?
The Panama City metro area's price level is 97.3 (U.S. = 100), #84 of the 149 metro areas we cover, from most to least expensive. Its housing price index is 96.4, 4% below the U.S. average.
Are people moving to Panama City?
Counting moves to and from the other 148 metro areas we cover, Panama City had a net gain of about 863 households in 2022–2023 (IRS county migration data).
What is the weather like in Panama City?
In NOAA's 1991–2020 climate normals for the Panama City area (Panama City 5N weather station), the average January low is 43°F and the average July high 91°F. The area has about 67 days a year at 90°F or hotter and gets 61 inches of precipitation a year and almost no snow.
What are jobs and pay like in Panama City?
The Panama City metro area's unemployment rate averaged 4.0% in 2025, below the U.S. rate (4.3%). The median wage across all jobs was $45,030 a year in May 2025, 12% below the U.S. median of $50,980 (Bureau of Labor Statistics).
What natural disasters affect Panama City?
FEMA's National Risk Index rates the area among the highest overall (score 89.7). The highest relative risks are hurricane, lightning, tornado.
Cities with similar prices
- Charlotte, NC 97.3
- Madison, WI 97.3
- Lakeland, FL 97.1
- Rochester, NY 97.0
- Durham, NC 97.6
- Crestview, FL 97.0
- Moving from Florida