Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With a population of 12,624, 5,241 total housing units (homes and apartments), and a median house value of $239,303, Panama City Beach real estate prices are well above average cost compared to national prices.
Large apartment complexes or high rise apartments are the single most common housing type in Panama City Beach, accounting for 69.73% of the city's housing units. Other types of housing that are prevalent in Panama City Beach include single-family detached homes ( 20.59%), row houses and other attached homes ( 5.23%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.81%). Cities with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact cities that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.
People in Panama City Beach primarily live in small (one, two or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Panama City Beach has a mixture of owner-occupied and renter-occupied housing.
Panama City Beach homes and real estate are some of the newest in America. 53.77% of Panama City Beach's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Panama City Beach real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 42.47%), and between 1940-1969 ( 3.70%).
A decent proportion of the Panama City Beach housing stock is seasonally occupied. That is, homes and condos in Panama City Beach are occupied by people for a portion of the year - mainly for vacation purposes - and then locked up and left unoccupied for the remainder of the year as owners return to their primary residences. This characteristic of the Panama City Beach housing market speaks to its popularity as a vacation location of choice.
Panama City Beach's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Panama City Beach during the period has been just -2.02%, which is lower than 80% of US communities.
Over the last year, Panama City Beach appreciation rates have trailed the rest of the nation. In the last twelve months, Panama City Beach's appreciation rate has been 2.54%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Panama City Beach were at -1.38%, which equates to an annual appreciation rate of -5.42%.
Notably, Panama City Beach's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Florida, our data show that Panama City Beach's latest annual appreciation rate is lower than 80% of the other cities and towns in Florida.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Panama City Beach differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Panama City Beach - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Panama City Beach real estate investment or home purchase decisions.
|$913,001 - $1,216,000||0.5|
|$608,001 - $913,000||4.4|
|$487,001 - $608,000||4.4|
|$365,001 - $487,000||13.4|
|$243,001 - $365,000||24.0|
|$122,001 - $243,000||38.7|
|$61,001 - $122,000||7.4|
|$0 - $61,000||6.7|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Panama City Beach HOMES|
|2000 or Newer||53.8|
|1970 - 1999||42.5|
|1940 - 1969||3.7|
|1939 or Older||0.1|
|TYPE OF Panama City Beach HOMES|
|Small Apt. Buildings||2.8|
|SIZE OF Panama City Beach HOMES|
|5 or more bedrooms||0.52|