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 about Scout's Real Estate Data
With a population of 19,056, 8,163 total housing units (homes and apartments), and a median house value of $478,323, 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 65.30% of the city's housing units. Other types of housing that are prevalent in Panama City Beach include single-family detached homes ( 26.20%), duplexes, homes converted to apartments or other small apartment buildings ( 4.38%), and a few mobile homes or trailers ( 2.06%). This particular housing mix is relatively uncommon and characteristic of cities that are compact and walkable, and which often have a lively downtown.
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. 50.44% 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 ( 46.66%), and between 1940-1969 ( 2.84%).
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.
In the last 10 years, Panama City Beach has experienced some of the highest home appreciation rates of any community in the nation. Panama City Beach real estate appreciated 146.17% over the last ten years, which is an average annual home appreciation rate of 9.43%, putting Panama City Beach in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Panama City Beach definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
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 -3.63%, 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 3.86%, which equates to an annual appreciation rate of 16.38%.
Importantly, this makes Panama City Beach one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to Florida, our data show that Panama City Beach's latest annual appreciation rate is lower than 90% 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.
$478,323
for Florida
for nation
8,163
$2,598 / per month