Cost of Living in Panama City, FL
Overall index: 82 (100 = US national average). Data source: US Census ACS 2023 & BLS OEWS 2025, 2025.
Overall Cost of Living Index
Cost Breakdown by Category
| Category | Index | vs US avg | Sample cost |
|---|---|---|---|
| Housing | 70 | -30% | $934 |
| Transportation | 101 | +1% | $3.50 |
| Food | 82 | -18% | $336 |
| Utilities | 85 | -15% | $126 |
| Healthcare | 85 | -15% | $91 |
Index 100 = US national average. Higher = more expensive.
Cost breakdown (visual)
Salary Calculator: What do you need to earn in Panama City?
A single adult living comfortably in Panama City, FL needs approximately $28,700 / year after taxes.
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Frequently Asked Questions
What is the cost of living in Panama City, FL?
The overall cost of living in Panama City, FL is 18% lower than the US national average (index: 82 where 100 = national average).
How much is rent in Panama City, FL?
Average rent for a 1-bedroom apartment in Panama City, FL is about $934/month.
Is Panama City, FL expensive to live in?
No, Panama City, FL is affordable (below national average).
What salary do I need to live in Panama City, FL?
A single adult needs roughly $28,700/year to cover basic living costs in Panama City, FL.