Cost of Living in Panama City, FL
Panama City-Panama City Beach, FL — prices, rents and what jobs really pay here after taxes.
Price level
97.3
U.S. average = 100 · #124 of 387
Median wage
$45,030
all jobs · $3,197/mo take-home
1-bedroom rent
$1,413
HUD fair market rent
Salary comparison calculator
What would you need to earn in Panama City, FL to keep the same lifestyle — after taxes — as in another city?
Salary needed to keep your lifestyle
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Prices in Panama City, FL vs. the U.S. average
| Category | Index (U.S. = 100) | Difference |
|---|---|---|
| All items | 97.3 | −2.7% |
| Housing | 96.4 | −3.6% |
| Goods | 96.2 | −3.8% |
| Utilities | 88.1 | −11.9% |
| Other services | 98.9 | −1.1% |
Source: BEA Regional Price Parities, 2024.
Rent in Panama City, FL
| Unit | Monthly rent | Income needed (30% rule) |
|---|---|---|
| Studio | $1,358 | $54,320/yr |
| 1 bedroom | $1,413 | $56,520/yr |
| 2 bedrooms | $1,601 | $64,040/yr |
| 3 bedrooms | $2,058 | $82,320/yr |
| 4 bedrooms | $2,557 | $102,280/yr |
HUD Fair Market Rents, FY2026, population-weighted across the metro's counties.
Take-home pay in Panama City, FL
Your take-home pay
$38,362
per year · effective tax rate 14.8%
$3,197Monthly
$1,598Twice a month
$1,475Every 2 weeks
$18.44Hourly
- Federal income tax$3,224
- Social Security (6.2%)$2,792
- Medicare (1.45%)$653
- Florida income tax$0
- Take-home pay$38,362
Marginal rate: 12% federal + 0.00% state
Highest-paying jobs in Panama City, FL
*In U.S.-average dollars after adjusting for local prices.
Frequently asked questions
Is Panama City, FL expensive to live in?
According to the Bureau of Economic Analysis, overall prices in the Panama City-Panama City Beach, FL metro area are 97.3% of the U.S. average, with housing at 96.4%. It is the #124 most expensive of 387 metro areas we track.
What salary do you need to live in Panama City, FL?
To match the buying power of a $60,000 salary in an average-priced U.S. city you would need about $58,378 in Panama City, FL (before tax differences). The median wage across all jobs here is $45,030.
How much is rent in Panama City, FL?
HUD’s FY2026 fair market rents for Panama City, FL are $1,358 for a studio, $1,413 for one bedroom, $1,601 for two bedrooms and $2,058 for three bedrooms, including utilities.
All salaries in Panama City, FL
Management Occupations
- General and Operations Manager — $86,070
Business and Financial Operations Occupations
- Project Management Specialist — $92,360
- Management Analyst — $88,630
- Business Operations Specialists, All Other — $88,610
- Accountant and Auditor — $71,820
Architecture and Engineering Occupations
- Engineers, All Other — $115,210
Educational Instruction and Library Occupations
- Elementary School Teachers, Except Special Education — $58,640
- Secondary School Teachers, Except Special and Career/Technical Education — $52,070
- Teaching Assistants, Except Postsecondary — $32,680
- Substitute Teachers, Short-Term — $31,470
Healthcare Practitioners and Technical Occupations
- Registered Nurse — $75,310
Healthcare Support Occupations
- Medical Assistant — $39,200
- Nursing Assistant — $36,420
- Home Health and Personal Care Aide — $32,670
Protective Service Occupations
- Police and Sheriff's Patrol Officer — $58,750
- Security Guard — $35,060
Food Preparation and Serving Related Occupations
- First-Line Supervisor of Food Preparation and Serving Workers — $39,090
- Cooks, Restaurant — $35,720
- Waiter and Waitress — $34,990
- Food Preparation Worker — $34,770
- Bartender — $31,650
- Dining Room and Cafeteria Attendant and Bartender Helper — $30,150
- Dishwasher — $30,010
- Fast Food and Counter Worker — $28,050
Building and Grounds Cleaning and Maintenance Occupations
- Landscaping and Groundskeeping Worker — $35,600
- Janitors and Cleaners, Except Maids and Housekeeping Cleaners — $34,070
- Maid and Housekeeping Cleaner — $29,620
Sales and Related Occupations
- Sales Representatives, Wholesale and Manufacturing, Except Technical and Scientific Products — $62,460
- Sales Representatives of Services, Except Advertising, Insurance, Financial Services, and Travel — $48,860
- First-Line Supervisor of Retail Sales Workers — $45,700
- Retail Salesperson — $32,290
- Cashier — $29,080
Office and Administrative Support Occupations
- First-Line Supervisor of Office and Administrative Support Workers — $60,320
- Bookkeeping, Accounting, and Auditing Clerks — $46,240
- Secretaries and Administrative Assistants, Except Legal, Medical, and Executive — $43,750
- Office Clerks, General — $42,840
- Medical Secretary and Administrative Assistant — $38,030
- Customer Service Representative — $36,900
- Receptionist and Information Clerk — $35,670
Construction and Extraction Occupations
- First-Line Supervisor of Construction Trades and Extraction Workers — $72,740
- Electrician — $52,900
- Operating Engineer and Other Construction Equipment Operator — $48,620
- Plumbers, Pipefitters, and Steamfitters — $47,800
- Construction Laborer — $43,250
Installation, Maintenance, and Repair Occupations
- First-Line Supervisors of Mechanics, Installers, and Repairers — $63,220
- Heating, Air Conditioning, and Refrigeration Mechanics and Installers — $51,600
- Automotive Service Technician and Mechanic — $43,730
- Maintenance and Repair Workers, General — $39,540
Production Occupations
- Miscellaneous Assembler and Fabricator — $47,510
Transportation and Material Moving Occupations
- Heavy and Tractor-Trailer Truck Driver — $47,610
- Light Truck Driver — $38,270
- Laborers and Freight, Stock, and Material Movers, Hand — $36,230
- Stocker and Order Filler — $36,130