Homes, values and local insight for Panama City, Bay County, Florida. Typical home value $284,000.
Reviewed and updated October 3, 2026 by Ryan and Megan Winslow, Winslow Homes
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Panama City is a Bay County community offering diverse real estate options and strong community values. Located in Florida, the area combines accessibility to major employment centers with quality living. The community features established neighborhoods, quality schools, and outdoor recreation opportunities.
The real estate market in Panama City offers moderate pricing and solid appreciation potential. Median prices around $340,000 make the area accessible for families and investors. Properties range from modest single-family homes to larger estates, with good rental demand from families and professionals seeking value and community.
Winslow Homes serves buyers and sellers across FL, MA, CT, and RI. Ryan and Megan Winslow provide both brokerage and mortgage services (Ryan Winslow NMLS #2426605 | Megan Winslow NMLS #2692933). Get pre-approved at www.winslowloan.com or call 386-690-5858.
Safe neighborhoods, good schools, family activities.
Parks, trails, natural areas.
Community feel and local events.
Local shops, services, community spaces.
Public parks with recreation and trails.
Family homes with 5-6% cap rates. Steady tenant demand.
Hold for appreciation. 3-4% annual expected.
Community homes with amenities. 4-5% cap rates.
The typical home in Panama City is worth $284,000, 17% below the Bay County typical value of $344,000 and 24% below the Florida typical value of $375,000.
Zillow Home Value Index for Panama City, August 2026. The middle of the market for single family homes and condos.
Home values in Panama City moved +23.9% over five years and +95.0% over ten.
Median gross rent in Panama City. Useful for investors running rental numbers.
Share of occupied homes in Panama City lived in by the owner.
Older homes often need inspection focus on roof, systems and windows.
Median household income in Panama City.
Ryan and Megan are mortgage bankers with The Federal Savings Bank, lending in all 50 states. You get the home and the loan from one team. On a typical Panama City home of $284,000:
Ryan and Megan price Panama City homes from recent sales, not guesses. Send your address and you get a free market analysis, with no obligation.
Typical value $218,000 · 8,495 residents
Area guide →Typical value $239,000 · 4,801 residents
Area guide →Typical value $327,000 · 21,954 residents
Area guide →Typical value $266,000 · 14,138 residents
Area guide →Typical value $414,000 · 19,955 residents
Area guide →Typical value $497,000 · 1,210 residents
Area guide →See the full Bay County real estate guide or the Florida real estate guide.
The Zillow Home Value Index for Panama City was $284,000 in August 2026, +1.2% over the past year.
Panama City is in Bay County, Florida.
About 37,024 people as of the 2024 Census Bureau estimate, up from 33,047 in 2020.
Ryan and Megan Winslow of Winslow Homes have sold over 3,000 homes since 2009 and are licensed in Florida, Massachusetts, Connecticut and Rhode Island. Call or text 386-690-5858.
Apply at www.winslowloan.com. Ryan and Megan are mortgage bankers with The Federal Savings Bank and lend in all 50 states, including FHA, VA and conventional loans.
55% of occupied homes in Panama City are owner occupied, based on the 2019 to 2023 American Community Survey.
17 years, over 3,000 homes sold, and one team for the home and the loan. Call or text 386-690-5858.
Sources: U.S. Census Bureau 2024 population estimates and 2019 to 2023 American Community Survey; Zillow Home Value Index, August 2026. Numbers update as new data is released. Talk to Ryan and Megan for current sold prices on your street.
No in-person meeting or phone call needed for most addresses. See your estimated value, price range and value trend in seconds.
Get coming-soon homes, pocket listings and price drops in Panama City, FL before they hit the big home search sites.
The typical home in Panama City is worth $286,214 as of August 2026, across 3 ZIP codes ranging from $217,221 in 32401 to $298,838 in 32405. Values moved +1.1% over the last 12 months at the middle ZIP code.
| ZIP | Typical value | 12 months | 5 years | Median sale, Mar to May 2026 | Days on market |
|---|---|---|---|---|---|
| 32401 | $217,221 | +1.2% | +24.5% | ||
| 32404 | $286,214 | +0.9% | +21.0% | $298,950 | 71 |
| 32405 | $298,838 | +1.1% | +21.0% | $365,000 | 67 |
Sources: Zillow Home Value Index through August 2026 and the Redfin Data Center ZIP code tracker, March to May 2026. Ask Ryan and Megan for a value for your own home.
