Is Panama City, FL a Good Place to Live?
Panama City is a small city of 34,254 in Florida, with a median household income of $57,221 and a 5.1% unemployment rate. Its cost of living index is 101 (US average = 100), which is 1% above the national average.
Strengths: Panama City stands out for below-average home prices, solid school ratings (B-), short average commutes.
Trade-offs: Potential downsides include a higher-than-average crime index, an elevated unemployment rate. Whether Panama City is right for you depends on your priorities — the full breakdown is below.
All Panama City city data on this page comes from official government sources — the US Census Bureau, FBI, NCES, BEA, and NOAA — updated annually.
Cost of Living
Index: 100.9Panama City's overall cost of living index is 100.9, where 100 represents the US national average. Living in Panama City costs roughly 1% more than the average American city.
| Metric | Panama City, FL | National Avg |
|---|---|---|
| Median Home Value | $213,600 | $244,900 |
| Median Monthly Rent | $1,221 | $1,163 |
| Homeownership Rate | 55.3% | 65.9% |
| Median Household Income | $57,221 | $74,755 |
Crime & Safety
Higher than AveragePanama City's violent crime rate is 649.5 per 100,000 residents — 71% higher than the national average of ~380 per 100,000.
Vertical marker = national average. Source: FBI UCR Program.
Schools & Education
Panama City is served primarily by BAY. The student-to-teacher ratio is 17.1:1 (slightly above the national average of ~16:1).
| Metric | Panama City, FL | National Avg |
|---|---|---|
| School District | BAY | — |
| Elementary Schools | 24 | — |
| Middle Schools | 5 | — |
| High Schools | 12 | — |
| Student/Teacher Ratio | 17.1:1 | 16:1 |
| Bachelor's Degree or Higher | 25.7% | 35.4% |
| High School Diploma or Higher | 89.2% | 91.1% |
Weather & Climate
Panama City sees average highs of 62.8°F in January and 90.5°F in July, with 61.3 inches of annual precipitation .
| Metric | Panama City, FL |
|---|---|
| Average High — January | 62.8°F |
| Average High — July | 90.5°F |
| Annual Precipitation | 61.3" |
| Annual Snowfall | Trace / None |
Demographics
| Metric | Panama City, FL | National Avg |
|---|---|---|
| Population | 34,254 | — |
| Median Age | 38.5 | 38.9 |
| Unemployment Rate | 5.1% | 3.7% |
| Avg Commute Time | 21.1 min | 26 min |
| White (non-Hispanic) | 64.5% | 59.3% |
| Black or African American | 21.1% | 13.6% |
| Hispanic or Latino | 6.1% | 18.9% |
| Asian | 1.3% | 6.3% |
| Under 18 | 23.2% | 22.2% |
| 65 and over | 18.0% | 16.8% |
Nearby Cities
ZIP Codes in Panama City
Panama City, FL is covered by 3 ZIP codes: