What to know before you move: cost, market timing, who it fits.
If you're considering a move to Panama City Beach, FL, the most important variables are the local housing market, the cost structure (taxes, insurance, utilities), and how well the city fits your day-to-day life. This page summarizes the housing market read; pair it with the cost of living page for the full picture.
Panama City Beach is a city in Bay County, Florida, with an estimated population of 19,955. It anchors the Panama City metro area. The population has grown 2.5% per year on average between 2020 and 2024 — among the faster-growing communities in the state. The median home value in Panama City Beach is $413,312 as of 2026-04, down 4.0% over the last 12 months. Over the last five years, home values have averaged +4.3% annual growth, and the market currently sits about 13% below its 5-year peak. Rents in Panama City Beach average $1,650 per month, roughly flat year-over-year (+0.1%). The composite momentum score is 52 of 100 (Stable). Conditions are neither hot nor cold, so the local fit matters more than market timing.
Sideways market (-4.0% YoY). No urgency to time the macro trend — focus on the home and neighborhood.
Reasons people move here
- People are voting with their feet: population growing 2.5% per year since 2020 — that's faster than ~80% of US cities.
- The data is the data: Panama City Beach has at least 5 years of Zillow tracking, full Census identification, and is included in the 2-criteria momentum score on this page.
Things to know first
- Cooling: -4.0% over the trailing year — momentum has stalled.
- 13% off recent peak — buyers are getting through-the-cycle pricing, not the peak.
More about Panama City Beach
Sources: Zillow ZHVI (home values), Zillow ZORI (rents), US Census ACS + place population. Updated when source agencies publish revisions.