Panama City Beach, FL Cost Of Living
Cost Of Living In Panama City Beach, FL Summary
Cost of living in Panama City Beach research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Panama City Beach is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Florida, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Panama City Beach is 104, with 100 being the average.
The cost of living index in Panama City Beach is 1.0x higher than the national average.
Panama City Beach ranks as the #306 cheapest in Florida out of 459.
Panama City Beach ranks as the #3,585 cheapest out of 6,412 in the US.
The median home value in Panama City Beach is $290,700.
The median income in Panama City Beach is $70,131.
Table Of Contents
Panama City Beach's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Panama City Beach, FL?
According to the most recent data on the cost of living, Panama City Beach has an overall cost of living index of 104, which is 1.0x higher than the national index of 100.
Compared to Florida, Panama City Beach has a cost of living index that's 1.0x higher than Florida's index of 101.
The standard of living in Panama City Beach ranks as #306 most affordable out of the 459 places we measured in Florida. By definition, that implies Panama City Beach ranks as the #153 most expensive place in the Sunshine State.
For more reading on life in Panama City Beach, check out:
- Living In Panama City Beach
- Panama City Beach Crime Report
- Search Homes For Sale In Panama City Beach, FL
In Florida
In America
Panama City Beach Cost Of Living Vs. Florida
Six factors go into calculating the cost of living index in Panama City Beach. Here is how it fairs on each of the criteria:
The Services index in Panama City Beach is 101.
The Groceries index in Panama City Beach is 103.
The Health index in Panama City Beach is 99.
The Housing index in Panama City Beach is 113.
The Transportation index in Panama City Beach is 99.
The Utilities index in Panama City Beach is 90.
| Living Expense | Panama City Beach | Florida | National Average | |
|---|---|---|---|---|
| Overall | 104 | 101 | 100 | |
| Services | 101 | 98 | 100 | |
| Groceries | 103 | 101 | 100 | |
| Health | 99 | 96 | 100 | |
| Housing | 113 | 108 | 100 | |
| Transportation | 99 | 98 | 100 | |
| Utilities | 90 | 100 | 100 | |
Panama City Beach, FL Housing Cost Breakdown
Housing swings affordability the most between places in Florida, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in Panama City Beach is $290,700.
The Median Rent in Panama City Beach is $1,462.
The Median Income in Panama City Beach is $70,131.
The Home Value To Income in Panama City Beach is 4.1x.
The Rent To Monthly Income in Panama City Beach is 0.25x.
| Statistic | Panama City Beach | Florida | United States |
|---|---|---|---|
| Median Home Value | $290,700 | $248,700 | $244,900 |
| Median Rent | $1,462 | $1,301 | $1,163 |
| Median Income | $70,131 | $61,777 | $69,021 |
| Home Value To Income | 4.1x | 4.0x | 3.5x |
| Rent To Monthly Income | 0.25x | 0.25x | 0.2x |
Median Home Value
Median Rent
Median Income
Panama City Beach, FL Costs By Category
Detailed Panama City Beach Services Costs Vs. Florida
| Item | Panama City Beach | Florida |
|---|---|---|
| Shampoo | $0.89 | $1.06 |
| Movie | $12.51 | $10.68 |
| Bowling | $14.01 | $14.67 |
| Haircut | $14.35 | $18.62 |
| Beauty Salon | $38.32 | $39.05 |
Detailed Panama City Beach Groceries Costs Vs. Florida
| Item | Panama City Beach | Florida |
|---|---|---|
| Ground Beef | $4.86 | $4.22 |
| Fried Chicken | $1.38 | $1.39 |
| Milk | $2.41 | $2.05 |
| Potatoes | $3.67 | $3.29 |
| Pizza | $10.33 | $10.62 |
| Beer | $9.29 | $9.38 |
| Toothpaste | $2.25 | $2.34 |
Detailed Panama City Beach Health Costs Vs. Florida
| Item | Panama City Beach | Florida |
|---|---|---|
| Optometrist | $80.2 | $108.57 |
| Doctor | $110.71 | $116.17 |
| Dentist | $94.58 | $99.13 |
Detailed Panama City Beach Transportation Costs Vs. Florida
| Item | Panama City Beach | Florida |
|---|---|---|
| Gasoline | $2.28 | $2.22 |
| Tire Balancing | $42.79 | $50.07 |
Detailed Panama City Beach Utilities Costs Vs. Florida
| Item | Panama City Beach | Florida |
|---|---|---|
| All Electricity | $142.93 | $167.67 |
| Phone | $181.79 | $175.64 |
Panama City Beach SnackAbility
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