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CITY · 2020 ACS

Panama City

Florida · 32,939 residents · 35.434 sq mi
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The short version

Panama City has notably lower household income than the US average, with a median household income of $48,185. Population has declined 10% since 2000. Median home value has more than doubled since 2000, reaching $169,100.

At a glance
Lower income
below the US median
US median: $66,278
Older
median age 41.1
US median: 38.8
Less educated
25% hold a bachelor's degree
US average: 33%
Less affordable
home values up 50%, inflation adjusted
US median home: $265,253
Section 01

Population & growth

Total population
32,939
−10%since 2000
from 36,417 in 2000
1990 – 2025
Population density
930 / sq mi
−10%since 2000
from 1,028 / sq mi in 2000
US average: 280
Median age
41.1
+10%since 2000
from 37.2 in 2000
US average: 38.8
Population, 1990 – 2024
33K34K35K36K37K1990201020202024Panama City
202435K
1990201020202024
Section 02

Income & economy

Median household income
$48,185
+2%inflation adjusted, since 2000
from $31,572 in 2000
US average: $66,278
1990 – 2024
Per capita income
$29,473
+65%since 2000
from $17,830 in 2000
US average: $35,364
Households earning $100K+
29.1%
+9.0 ptssince 2009
from 20.1% in 2009
US average: 43.9%
Poverty rate
17.5%
+0.3 ptssince 2000
from 17.2% in 2000
US average: 12.8%
Workforce by industry, 2020
Information12.7%
US avg: 11.1%
Wholesale trade7%
US avg: 6.7%
Retail trade5.7%
US avg: 10%
Other services4.7%
US avg: 6.6%
Finance & insurance4.4%
US avg: 5.5%
Professional, scientific, technical3.8%
US avg: 4.7%
Transportation & warehousing2.6%
US avg: 2.5%
Public administration2.6%
US avg: 4.7%
Agriculture, forestry, fishing0.8%
US avg: 1.7%
Arts, entertainment, food0.6%
US avg: 2%
Education & health services0.6%
US avg: 0.8%
Construction0.6%
US avg: 1.2%
Manufacturing0.2%
US avg: 0.5%
BARS: THIS PLACE · TICKS: US AVERAGE
Section 03

Housing

Median home value
$169,100
+50%inflation adjusted, since 2000
from $75,200 in 2000
US average: $265,253
1990 – 2024
Median gross rent
$964
+22%inflation adjusted, since 2000
from $526 in 2000
US average: $1,124
Owner-occupied
55.4%
−2.4 ptssince 2000
from 57.8% in 2000
44.6% rent
Afford Score
3.5
+47%since 2000
from 2.4 in 2000
1990 – 2024
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)
2020
White, non-Hispanic61.8%(20,358)
Black19%(6,248)
Hispanic / Latino10.7%(3,536)
Asian2.2%(713)
Other5.1%(1,688)
Diversity Score69.6%(22,926)
Diversity Score
70
+37%since 2000
from 51 in 2000
1990 – 2024
Section 05

Education

Bachelor's degree or higher
25.3%
+6.4 ptssince 2000
from 18.9% in 2000
US average: 32.9%
High school or higher
91.5%
+12.3 ptssince 2000
from 79.2% in 2000
US average: 88.5%
Graduate degree
8.6%
+1.3 ptssince 2000
from 7.4% in 2000
US average: 12.7%
Section 06

Commute & transportation

Average commute
20.4 min
+77%since 2000
from 11.6 min in 2000
US average: 26.9
Drive alone to work
78.3%
−1.4 ptssince 2009
from 79.7% in 2009
US average: 75.1%
No vehicle available
9.9%
+2.6 ptssince 2009
from 7.4% in 2009
US average: 8.4%
Section 07

Work & employment

Unemployment rate
6.3%
−2.9 ptssince 2011
from 9.2% in 2011
US average: 5.4%
Labor force participation
61.6%
−0.8 ptssince 2011
from 62.4% in 2011
US average: 63.4%
Management & professional
34.4%
−30.5 ptssince 2009
from 64.9% in 2009
US average: 39.3%
Section 08

People & community

Male
45.6%
−1.4 ptssince 2009
from 47.1% in 2009
Female
54.4%
+1.4 ptssince 2009
from 52.9% in 2009
Foreign born
6.9%
+0.8 ptssince 2009
from 6.1% in 2009
US average: 13.5%
Uninsured
15.1%
−63.5 ptssince 2013
from 78.6% in 2013
US average: 8.8%
Drill deeper

Places similar to Panama City

Dalton
Pop 35,322
South Miami Heights
Pop 38,766
Dover
Pop 40,592
Casselberry
Pop 31,872
Places similar to Panama City
Head to head

Compare Panama City to nearby cities

PANAMA CITY VS
Springfield
Income$54,462+13%
Home value$188,600+12%
Population8,551−77%
SEE FULL COMPARISON →
PANAMA CITY VS
Upper Grand Lagoon
Income$82,157+71%
Home value$373,200+121%
Population17,232−54%
SEE FULL COMPARISON →
PANAMA CITY VS
Lynn Haven
Income$80,973+68%
Home value$320,000+89%
Population22,479−41%
SEE FULL COMPARISON →
PANAMA CITY VS
Callaway
Income$65,609+36%
Home value$250,300+48%
Population14,369−62%
SEE FULL COMPARISON →
Frequently asked

How many people live in Panama City, Florida?

Panama City, Florida has about 32,939 residents according to the 2020 American Community Survey.

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

The typical household in Panama City, Florida earns about $48,185 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 $169,100, and the typical rent is about $964 a month.

How educated are people in Panama City, Florida?

About 25.3% 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 17.5% of people in Panama City, Florida live below the federal poverty line.

Has Panama City, Florida grown since 1990?

Yes, Panama City, Florida has shrunk since 1990. The population has lost about 1,439 residents, a change of about -4 percent over that period.

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

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