Panama City, FL home prices
Typical home $342,980 · +0.0% in a year · income needed $93,600
The Panama City, FL metro area ranks 236 of 894 U.S. metros for home values (U.S. typical home: $366,157). Prices changed +0.0% in a year and +15.8% over five years. With 20% down at 7.11%, the typical home costs about $2,184 a month including 0.58% property tax (Bay County rate).
Mortgage on the typical Panama City home
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $68,596 | $274,384 | $1,846 | $0 | $338 | $2,184 | $93,600 |
| 10% down | $34,298 | $308,682 | $2,077 | $129 | $338 | $2,543 | $109,000 |
| 5% down | $17,149 | $325,831 | $2,192 | $136 | $338 | $2,665 | $114,200 |
| 3.5% down (FHA) | $12,004 | $336,767 | $2,265 | $152 | $338 | $2,755 | $118,100 |
Assumes a 30-year fixed loan at 7.11%, property tax of 0.58% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
Counties in the Panama City area
| County | Typical home | 1-yr change | Tax rate |
|---|---|---|---|
| Bay County, FL | $343,009 | -0.0% | 0.58% |
What can you afford in Florida on your salary? · Florida home prices · Salaries in Florida
Frequently asked questions
How much is a house in Panama City?
The typical home in the Panama City, FL metro area is worth $342,980 (Zillow, September 2026).
What salary do you need to buy a house in Panama City?
About $93,600 a year for the typical home with 20% down at 7.11%.