Rent or Buy in Panama City Beach?
In 2026, the median home price in Panama City Beach is $408,350 and average rent is $2,059. Let's run the numbers.
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Market Analysis: Panama City Beach
The Verdict for 2026
Based on the price-to-rent ratio of 6.1%, buying could be a solid move in Panama City Beach if you plan to stay for at least 5-7 years. Rents are high enough that locking in a mortgage payment might save you money over time.
Key Market Data
- Median Home Price: $408,350 (as of 2025-11-30)
- Average Rent: $2,059/month
- Homes Sold: 86 per month
- Days on Market: 116 days median
Financial Calculators for Panama City Beach, Florida
Use our specialized calculators to make informed decisions about buying in Panama City Beach, Florida.
Frequently Asked Questions
Is Panama City Beach a good place to buy a house in 2026?
Yes, Panama City Beach can be a strong buy market. With a price-to-rent ratio of 6.1%, monthly rents are high enough that locking in a mortgage payment makes financial sense if you plan to stay 5+ years. The median home price of $408,350 offers good value compared to rental costs.
How much do you need to earn to buy a home in Panama City Beach?
Based on the median home price of $408,350, you'll typically need an annual household income of $1372K-$1764K to qualify for a mortgage (using the 28/36 rule). With a 20% down payment ($82K), your monthly payment would be approximately $1,906 at current interest rates.
What are the hidden costs of buying in Panama City Beach?
Beyond your mortgage, budget for property taxes (typically 1-2% of home value annually in Florida), homeowners insurance ($1,200-$2,500/year), maintenance (1-2% of home value annually), HOA fees if applicable, and closing costs (1.5% when buying, 6% when selling). Our calculator above factors in all these costs for an accurate comparison.
How long until buying pays off in Panama City Beach?
The break-even point in Panama City Beach typically ranges from 5-7 years, depending on your down payment, interest rate, and how long you stay. Use our calculator above with your specific numbers to find your exact break-even year. Factors like Panama City Beach's projected 3-4% annual appreciation rate and $2,059/month average rent significantly impact this timeline.
Should I rent or buy in Panama City Beach if I'm only staying 2-3 years?
For short stays of 2-3 years, renting is almost always the better financial choice in Panama City Beach. Closing costs when buying (1.5%) and selling (6%) mean you'll spend roughly $31K just on transaction fees. You'd need significant home appreciation to offset these costs in such a short timeframe. Renting preserves your flexibility and avoids these upfront expenses.