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CITY

Panama City

Florida · 37,806 residents (2025 est.) · 35.434 sq mi
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#158Fastest shrinkingof 6,642-9.7%
The short version

Panama City has lower-than-average household income, with a median household income of $62,265. Population has declined 4% since 2000. Median home value has more than tripled since 2000, reaching $268,900.

At a glance
Lower income
below the US median
US median: $82,259
Mid-age
median age 39.5
US median: 38.9
Less educated
26% hold a bachelor's degree
US average: 36%
Less affordable
home values up 96%, inflation adjusted
US median home: $376,019
Section 01

Population & growth

Total population
34,979
−4%since 2000
from 36,417 in 2000
1990 – 2025
Population density
987 / sq mi
−4%since 2000
from 1,028 / sq mi in 2000
US average: 281
Median age
39.5
+6%since 2000
from 37.2 in 2000
US average: 38.9

PEP 2025 EST:37,806 residents (Census Bureau Vintage 2025, released March 2026)

Population, 1990 – 2024
33K34K35K36K37K1990201020202024Panama City
202435K
1990201020202024
Section 02

Income & economy

Median household income
$62,265
+8%inflation adjusted, since 2000
from $31,572 in 2000
US average: $82,259
1990 – 2024
Per capita income
$38,881
+118%since 2000
from $17,830 in 2000
US average: $44,673
Households earning $100K+
40.6%
+20.4 ptssince 2009
from 20.1% in 2009
US average: 53.3%
Poverty rate
17.6%
+0.4 ptssince 2000
from 17.2% in 2000
US average: 12.5%
Income inequality (Gini)
0.492
+11%since 2010
from 0.443 in 2010
US average: 0.476
Workforce by industry, 2024
Information13%
US avg: 10.8%
Wholesale trade8.6%
US avg: 6.9%
Other services7.4%
US avg: 6.7%
Finance & insurance4.2%
US avg: 5.9%
Retail trade3.9%
US avg: 9.9%
Public administration3.9%
US avg: 4.8%
Professional, scientific, technical3.3%
US avg: 5.1%
Transportation & warehousing1.6%
US avg: 2.2%
Arts, entertainment, food1.5%
US avg: 1.9%
Education & health services0.9%
US avg: 0.9%
Agriculture, forestry, fishing0.5%
US avg: 1.6%
Construction0.4%
US avg: 1.2%
Manufacturing0.1%
US avg: 0.4%
BARS: THIS PLACE · TICKS: US AVERAGE
Section 03

Housing

Median home value
$268,900
+96%inflation adjusted, since 2000
from $75,200 in 2000
US average: $376,019
1990 – 2024
Median gross rent
$1,327
+38%inflation adjusted, since 2000
from $526 in 2000
US average: $1,442
Owner-occupied
56.3%
−1.5 ptssince 2000
from 57.8% in 2000
43.7% rent
Vacancy rate
11.3%
−2.4 ptssince 2009
from 13.8% in 2009
US average: 10.0%
Owner cost-burdened
23.7%
−6.9 ptssince 2009
from 30.6% in 2009
US average: 22.9%
Renter cost-burdened
60.4%
+14.7 ptssince 2009
from 45.7% in 2009
US average: 47.4%
Afford Score
4.3
+81%since 2000
from 2.4 in 2000
1990 – 2024
Gentrification Score
59
RELATED:See current rent listings in Panama City on RentDataNow
Section 04

Race & ethnicity

2000
White, non-Hispanic72.3%(26,317)
Black21%(7,648)
Hispanic / Latino2.9%(1,060)
Asian1.5%(560)
Other0%
Diversity Score50.7%(18,470)
2024
White, non-Hispanic61.8%(21,627)
Black20.1%(7,015)
Hispanic / Latino9.7%(3,405)
Asian1.7%(587)
Other6.7%(2,345)
Diversity Score70.4%(24,627)
Diversity Score
70
+39%since 2000
from 51 in 2000
1990 – 2024
Section 05

Education

Bachelor's degree or higher
26.4%
+7.6 ptssince 2000
from 18.9% in 2000
US average: 35.6%
High school or higher
90.4%
+11.2 ptssince 2000
from 79.2% in 2000
US average: 89.6%
Graduate degree
10.0%
+2.6 ptssince 2000
from 7.4% in 2000
US average: 14.0%
Section 06

Commute & transportation

Average commute
21.4 min
+85%since 2000
from 11.6 min in 2000
US average: 26.5
Drive alone to work
72.6%
−7.1 ptssince 2009
from 79.7% in 2009
US average: 68.9%
Carpooled to work
13.6%
+1.8 ptssince 2009
from 11.8% in 2009
US average: 8.5%
Public transit
0.2%
−0.8 ptssince 2009
from 1.0% in 2009
US average: 3.2%
Worked from home
10.9%
+8.4 ptssince 2009
from 2.6% in 2009
US average: 15.0%
Walked to work
1.2%
+0.1 ptssince 2009
from 1.1% in 2009
US average: 2.4%
Biked to work
0.3%
−0.5 ptssince 2009
from 0.8% in 2009
US average: 0.4%
No vehicle available
5.4%
−2.0 ptssince 2009
from 7.4% in 2009
US average: 8.3%
Section 07

Work & employment

Unemployment rate
4.5%
−4.8 ptssince 2011
from 9.2% in 2011
US average: 5.2%
Labor force participation
63.2%
+0.8 ptssince 2011
from 62.4% in 2011
US average: 63.5%
Self-employed
13.6%
−0.5 ptssince 2009
from 14.1% in 2009
US average: 13.1%
Management & professional
38.1%
−26.8 ptssince 2009
from 64.9% in 2009
US average: 42.5%
Section 08

People & community

Male
47.3%
+0.2 ptssince 2009
from 47.1% in 2009
Female
52.7%
−0.2 ptssince 2009
from 52.9% in 2009
Foreign born
10.0%
+3.9 ptssince 2009
from 6.1% in 2009
US average: 14.1%
Veterans
10.2%
−36.0 ptssince 2009
from 46.2% in 2009
US average: 6.2%
With a disability
19.2%
+1.7 ptssince 2012
from 17.5% in 2012
US average: 13.3%
Uninsured
17.8%
−60.8 ptssince 2013
from 78.6% in 2013
US average: 8.4%
Broadband at home
87.9%
+11.6 ptssince 2017
from 76.3% in 2017
US average: 91.0%
English only at home
88.2%
−2.4 ptssince 2016
from 90.6% in 2016
US average: 77.7%
Spanish at home
7.2%
+2.4 ptssince 2016
from 4.9% in 2016
US average: 13.6%
Drill deeper

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Head to head

Compare Panama City to nearby cities

PANAMA CITY VS
Springfield
Income$54,462−13%
Home value$188,600−30%
Population8,551−77%
SEE FULL COMPARISON →
PANAMA CITY VS
Upper Grand Lagoon
Income$82,157+32%
Home value$373,200+39%
Population17,232−54%
SEE FULL COMPARISON →
PANAMA CITY VS
Lynn Haven
Income$80,973+30%
Home value$320,000+19%
Population22,479−41%
SEE FULL COMPARISON →
PANAMA CITY VS
Callaway
Income$65,609+5%
Home value$250,300−7%
Population14,369−62%
SEE FULL COMPARISON →
Frequently asked

How many people live in Panama City, Florida?

Panama City, Florida has about 34,979 residents according to the 2024 American Community Survey.

What is the median household income in Panama City, Florida?

The typical household in Panama City, Florida earns about $62,265 a year. Half of households make more than that, and half make less.

Is Panama City, Florida expensive?

In Panama City, Florida, the median home is worth about $268,900, and the typical rent is about $1,327 a month.

How educated are people in Panama City, Florida?

About 26.4% of adults age 25 and over in Panama City, Florida hold a bachelor's degree or higher.

What is the poverty rate in Panama City, Florida?

About 17.6% of people in Panama City, Florida live below the federal poverty line.

Has Panama City, Florida grown since 1990?

Yes, Panama City, Florida has grown since 1990. The population has added about 601 residents, a change of about 2 percent over that period.

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DATA: US CENSUS BUREAU ACS 5-YEAR + DECENNIAL CENSUS · UPDATED 2024

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