Cost of Living in Panama city, FL
Housing
The housing market plays a significant role in determining the cost of living in Panama city, FL.
- Housing Index: 101.5 / 100
- Median Home Price is: $288,000
- Average Rent (2 BR Apartment): $1500 per month
- Average Rent (2 BR House): $1536 per month
Considering a move to Panama city, FL? The housing index sits at 101.5, which reflects relative affordability in the market. With the median home price at 288000, buying a property may be a viable option for some. For renters, the average rent for a 2-bedroom apartment is reasonably set at 1500, while a 2-bedroom house is slightly higher at 1536. Although the costs appear competitive, it’s important to factor in local amenities, lifestyle, and future development trends that could influence property values over time.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Panama city, FL.
- Electricity Price: $13.89 USD (median by state)
- Natural Gas Price: $26.13 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $250 per month
Living in Panama city, FL could entail higher utility costs. Electricity costs sit at $13.89, while natural gas is priced at $26.13 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $250 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Panama city is a financially viable option for your relocation.