Rent by ZIP code in Panama City Beach
| ZIP code | County | Typical rent | vs city median |
|---|---|---|---|
| 32413 | Bay County | $1,774 | +4% |
| 32407 | Bay County | $1,702 | 0% |
| 32408 | Bay County | $1,686 | -1% |
Rent by bedroom count in Panama City Beach
Zillow's index above blends every unit size into one number. For a bedroom level view, these are HUD's FY2027 Fair Market Rents for Bay County. They include utilities and sit near the 40th percentile of the market, so treat them as the low side of what a typical unit lists for.
| Unit size | FY2027 Fair Market Rent | Change from FY2026 |
|---|---|---|
| Studio | $1,414 | -0.8% |
| 1 bedroom | $1,517 | +2.5% |
| 2 bedroom | $1,651 | -1.8% |
| 3 bedroom | $2,101 | -3.1% |
| 4 bedroom | $2,567 | -4.5% |
Source: HUD Fair Market Rents. Updates when HUD publishes a new fiscal year.
Is rent going up or down in Panama City Beach?
Typical rent across Bay County is $1,745 as of August 2026. That is up 1.3% from a year earlier and up 12.0% over five years.
| Year | Typical rent, Bay County | Change |
|---|---|---|
| 2021 | $1,659 | +18.5% |
| 2022 | $1,702 | +2.6% |
| 2023 | $1,724 | +1.3% |
| 2024 | $1,729 | +0.3% |
| 2025 | $1,736 | +0.4% |
| 2026 (through August) | $1,745 | +0.5% |
Zillow Observed Rent Index for the county, all home types, last published month of each year. Each row is compared with the end of the year before it.
Panama City Beach rent questions
- What is the average rent in Panama City Beach, FL?
- Typical asking rent in Panama City Beach is $1,702 a month as of July 2026, across 3 ZIP codes. By ZIP code it runs from $1,686 to $1,774.
- How much is rent for a 2 bedroom in Panama City Beach?
- HUD's FY2027 Fair Market Rent for a two bedroom in Bay County is $1,651 a month including utilities. A one bedroom is $1,517 and a three bedroom is $2,101. Fair Market Rent is set near the 40th percentile, so a typical unit lists somewhat higher.
- Is rent going up or down in Panama City Beach?
- Rent is rising. Typical rent in Bay County is $1,745 as of August 2026, up 1.3% from a year earlier.
- What is the cheapest ZIP code to rent in Panama City Beach?
- ZIP 32408 has the lowest typical asking rent in Panama City Beach at $1,686 a month, compared with $1,702 for the city overall.
- How much income do you need to rent in Panama City Beach?
- Most landlords look for gross income of about three times the rent. At the typical Panama City Beach rent of $1,702, that is about $5,106 a month, or $61,272 a year. This is a common screening rule of thumb, and individual landlords set their own.
How to use these numbers
These are Zillow Observed Rent Index values, a smoothed measure of typical asking rent for single family homes, condos, and apartments in each ZIP code. They describe what units are listed for, not what any specific unit will get. Condition, bedroom count, and the exact block all move the number.
If you are underwriting a purchase, use the ZIP figure rather than the city median, and then verify against live listings for the same bedroom count before you commit. Panama City Beach sits in the Panama City, FL metro area.