About Panama City Beach, FL

Panama City Beach is west of Panama City. This contemporary tourist town incorporated in 1970. It uses the slogan “The World’s Most Beautiful Beaches” in recognition of the pure white sandy beaches of the Florida Panhandle. The area is popular with students who come to party during spring break.

The 2020 U.S. Census counted 18,094 people living here. The population is still growing and is now well over 20,000.

Real estate developers made tons of money in this area by replacing older homes and rundown motels with newly constructed high-rise condominium complexes. In the real estate boom, which started in 2000 and lasted until the Great Recession in 2006 to 2008, many beachfront properties went up by four times in value over just a few years. The real estate downturn brought prices back to sanity only temporarily. Beachfront property in the area is very desirable and current prices are still going up.

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What To Do in Panama City Beach, FL

• Spring Break Hub: Panama City Beach is recognized as one of the best places for students to enjoy during Spring Break. Locals either join in for the party or rent their place out for high prices and return when all the craziness passes.

• Beach: Close your eyes and imagine you are on the beach in paradise; Panama City Beach is that paradise. There are 27 miles of white sand to enjoy. If you are not a beach person, take a catamaran sailboat ride, floating over the crystal-clear emerald-green water to have your breath taken away when you view the stunning sunsets.

• Nature Trails: If being on a big sailboat makes you feel queasy, visit St. Andrews State Park. This shoreline park is a dog-friendly sanctuary with great sunset views along the hiking trails.

• Pier Fishing: For a small fee to enter the pier, and another fee for a fishing license, you can enjoy fishing from two piers in Panama City Beach: the Russell-Fields City Pier and M.B. Miller County Pier.

• Community Events: Enjoy events like the free concerts at Aaron Bessant Park during the summer. During the winter holidays there is the Beach Home for the Holidays festival and the New Year’s Eve Beach Ball Drop.

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Working in Panama City Beach, FL

Panama City Beach's economy benefits from tourism, healthcare, hospitality, retail, and construction. The unemployment rate is 4.1%, which is on par with the national average. The estimated median household income is $80,617 per year, which is about $3,000 less than the U.S. median of $83,730.

The economy is growing at nearly the same rate as the national average. The predicted job growth rate for the next decade is 34.3%, compared to the national rate of 33.5%.

Industries by employment share:

• Retail: 17.3%
• Accommodation & Food Services: 17.0%
• Construction: 9.2%
• Health Care & Social Assistance: 8.5%
• Public Administration: 7.9%
• Educational Services: 7.3%
• Professional/Scientific/Technical Services: 5.0%

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Panama City Beach, FL Neighborhoods

The community has excellent beachfront areas. Here are the neighborhoods with the most luxurious homes to consider:

• The Glades / Miracle Strip Business Plaza
  Median real estate price: $681,237 (more expensive than 86.1% of Florida communities)
  Average rent: $2,577 • Vacancy rate: 18.3%
  Mix of owner-occupied and vacation rentals; many high-rise luxury buildings.

• La Valencia Beach Resort / Hollywood Beach
  Near Camp Helen State Park
  Median sales price: $546,163 • Average rent: $1,880 • Vacancy rate: 58.8% (many vacation rentals)

• Bahama Beach
  Spectacular beaches
  Median home price: $520,050 • Average rent: $1,706 • Vacancy rate: 39.4%

• Long Beach Resort
  Includes Signal Hills Golf Course
  Median sales price: $504,365 • Average rent: $2,437 • Vacancy rate: 88.9% (mostly vacation rentals)

Tip: To save on housing, look for a home away from the beach in a neighborhood like Palm Cove.

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Panama City Beach, FL School District

• Public Schools: Bay District Schools
  Per-student spending: $13,355 • Student-to-teacher ratio: 18:1

• Private Schools (13 total):
  Top options include Covenant Christian School (PK–12), Holy Nativity Episcopal School (PK–8), and 1st Presbyterian Christian School (PK–K).

• Higher Education: Gulf Coast State College (public, four-year)

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Moving to Panama City Beach, FL — Resource Guide

• Local Government: Mayor and four City Council members. More info on the City of Panama City Beach official website.
• Parks & Recreation:
  • Aaron Bessant Park: Outdoor concerts on a 10-acre festival lawn
  • Aquatic Center: Outdoor swimming pool complex with water attractions
  • Conservation Park: 24 miles of trails and picnic areas
  • Frank Brown Park: 9 baseball/softball fields, 3 soccer fields, 2 outdoor basketball courts, and an indoor gymnasium

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Panama City Beach, FL Housing

• Median home price: $383,750
• Trend: −11.8% year-over-year
• Market: Buyer’s market (more listings than buyers)
• Costs: Housing costs 44% higher than the U.S. average
• Cost of living: 13% higher than other Florida cities and 11% higher than the U.S. average

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Military Bases Near Panama City Beach, FL

• Naval Support Activity Panama City: A few miles east of Panama City Beach
• Tyndall Air Force Base: 12 miles east of Panama City Beach