Cost of living in Panama City: rent, homes and salary
For 2024, the BEA regional price parity (RPP) puts the cost of living in Panama City 2.7% below the US average: 97.3 for the metro area of Panama City, FL, against 100 for the US, with housing alone at 96.4.
- Level of prices
- 97.3US = 100, BEA 2024
- Price level for housing
- For rents: 96.4, with US = 100.
Cost of living index for Panama City
Set the US average at 100, and a regional price parity compares one place against it using an identical basket of goods and services. Panama City falls inside the metro area Panama City-Panama City Beach, FL, and BEA prices that area as one. Utilities sit furthest from the US average, at 88.1, or 11.9% below the US.
| Price level, US = 100 | Panama City, FL metro | Florida | Metro against the US |
|---|---|---|---|
| All items | 97.3 | 103.4 | −2.7% |
| Goods | 96.2 | 98.1 | −3.8% |
| Housing (rents) | 96.4 | 122.1 | −3.6% |
| Utilities | 88.1 | 90.1 | −11.9% |
| Other services | 98.9 | 101.3 | −1.1% |
Regional price parities for each metro area and state, 2024. Source: U.S. Bureau of Economic Analysis. BEA regional price parity data
What rent costs in Panama City
Asking rent in Panama City typically runs $1,655 a month, according to the Zillow Observed Rent Index (ZORI), which covers the rent on homes listed right now, +0.6% on a year. In the US the figure is $1,932.
| Rent | Panama City | United States |
|---|---|---|
| Typical asking rent, Zillow ZORI | $1,655 | $1,932 |
| Asking rent, 12-month change | +0.6% |
Zillow Observed Rent Index; one-year estimates from the Census Bureau American Community Survey 2024.
Panama City home prices
In September 2026, the Zillow Home Value Index (ZHVI) put a typical Panama City home at $282,475. It measures value for a home in the middle of the market. Year over year, that is +1.1%, against a US figure of $366,157.
| Home prices | Panama City | United States |
|---|---|---|
| Typical home value, September 2026 | $282,475 | $366,157 |
| 12-month change | +1.1% | +1.2% |
| 10-year change | +93.5% | +77.4% |
| Price to rent (years of asking rent) | 14.2 | 15.8 |
Days on market, a forecast, and a price chart since 2000: Panama City housing market.
Salary needed for living in Panama City
What salary in Panama City buys what your pay buys now comes down to two questions: your earnings, and the place where you live.
- Moving out of
- Salary
Side by side for every city, plus the method used: cost of living by city
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Cost of living in Panama City vs other cities
| City | Level of prices | Housing | Rent, typical | Home value, typical |
|---|---|---|---|---|
| Panama City | 97.3 | 96.4 | $1,655 | $282,475 |
| Jacksonville | 99.5 | 109.8 | $1,589 | $284,832 |
| Miami | 114.2 | 155.6 | $2,965 | $583,705 |
| Tampa | 100.9 | 125.8 | $1,930 | $375,619 |
| Orlando | 101.4 | 123.4 | $1,889 | $372,775 |
| St. Petersburg | 100.9 | 125.8 | $2,039 | $351,862 |
| Fort Lauderdale | 114.2 | 155.6 | $2,697 | $509,743 |
| West Palm Beach | 114.2 | 155.6 | $2,365 | $404,711 |
| Boca Raton | 114.2 | 155.6 | $2,967 | $580,267 |
Levels come from BEA regional price parities for 2024, where US = 100. Zillow ZORI for rent. Zillow ZHVI, September 2026 for home value.
See the cost of living comparison for every city ranked. Every state listed: state cost of living.