Panama City, Florida Demographics
Population trends, housing costs, income, commuting, and health, all on one page.
Panama City, FL Population Density Map and Area Scores
Area Score
Health, income and education, each graded from F to A+. Explore interactive maps for deeper analysis.
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C
Health Below average
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D
Income Well below average
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D
Education Well below average
Source: Map AI Methodology
Population
| Metric | Panama City | Florida Avg | U.S. Average |
|---|---|---|---|
| Population | 34,646 | 22,388,905 | 337,468,954 |
| Population density (per sq mi) | 832.6 | 313.4 | 86.4 |
| Population growth (%/yr) | -1.17% | 1.47% | 0.59% |
| Median age | 40.5 | 40.2 | 37.3 |
| Households | 15,244 | 8,743,019 | 130,235,071 |
Population in Panama City declined by 6.0% from 2009 to 2024, reaching 34,646 in 2024.
Population Growth 2009–2024
Race & Ethnicity
Age & Sex
The largest generation in Panama City is Gen Z, aged 13–28, at 20.9% of residents. That is 1.5 points above Florida as a whole.
- Gen Z 13–28 7,258 20.9% +1.5 pts
- Millennials 29–44 6,933 20.0% -0.6 pts
- Gen X 45–60 7,099 20.5% -0.2 pts
- Boomers 61–79 6,202 17.9% -1.7 pts
Residents by birth cohort, from the 2025 age distribution. The right-hand figure is how far each cohort's share sits above or below Florida, in percentage points. Children younger than Gen Z and the generations before the Boomers are counted in the population but not shown here, so these shares do not add up to 100%.
Male and female share
Women are 53.2% of the people living in Panama City and men 46.8%.
- Women 53.2% Florida 51.0%
- Men 46.8% Florida 49.0%
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Economy
Panama City has a the economy index of D, which means it is barely prosperous.
| Metric | Panama City | Florida Avg | U.S. Average |
|---|---|---|---|
| Median household income | $61,596 | $74,580 | $80,455 |
| Income growth (%/yr) | 6.12% | 5.42% | 4.80% |
| Unemployment rate | 4.6% | 4.8% | 5.2% |
The median household income in Panama City is about 17% lower than in Florida.
Housing
| Metric | Panama City | Florida Avg | U.S. Average |
|---|---|---|---|
| Median home price | $405,868 | $311,338 | $248,835 |
| Median rent | $1,334 | $1,668 | $1,407 |
| Homeownership rate | 56.2% | 67.6% | 65.2% |
The median home price in Panama City is about 25.4 years' worth of rent — buying at the median price costs roughly as much as paying the median rent of $1,334 per month for that long.
Commute Time & Mobility
Commuters in Panama City spend about 35 minutes on the road round trip each working day. Over a typical 250-day work year, that adds up to roughly 147 hours, about 6.1 full days, spent commuting.
| Metric | Panama City | Florida Avg | U.S. Average |
|---|---|---|---|
| One-way commute (min) | 17.6 | 24.0 | 22.4 |
| Round-trip commute (min) | 35.2 | 47.9 | 44.8 |
| Yearly time spent (hours) | 147 | 200 | 187 |
| Estimated yearly cost | $4,548 | $6,189 | $5,790 |
| Work from home | 9.5% | 15.7% | 15.0% |
| Highway traffic (vehicles/day) | 9,170 | 14,318 | 8,813 |
| Local road traffic (vehicles/day) | 2,466 | 3,068 | 1,355 |
The average commute time in Panama City is 18 minutes, shorter than the 24 minutes in Florida.
Estimated yearly cost applies a single national wage rule of thumb (U.S. Bureau of Labor Statistics average hourly earnings), not a measurement of wages in this area. Traffic volume figures come from proprietary Ticon and TrafficZoom data.
Education & Households
Panama City has a education index of D, which means it is barely educated.
| Metric | Panama City | Florida Avg | U.S. Average |
|---|---|---|---|
| Bachelor's degree or higher | 23.2% | 30.1% | 31.6% |
| Average household size | 2.22 | 2.50 | 2.53 |
Health
Panama City has a health index of C, which means it is somewhat healthy.
| Metric | Panama City | Florida Avg | U.S. Average |
|---|---|---|---|
| Life expectancy (years) | 73.9 | 77.2 | 78.3 |
| Self-rated poor health | 21.8% | 19.5% | 16.3% |
| Smokers | 23.8% | 21.3% | 19.0% |
Frequently Asked Questions
Common questions about Panama City, Florida.
What is the population of Panama City, Florida?
About 34,646 people live in Panama City, Florida, in 15,244 households of 2.2 people on average. The median age is 40.5, so residents are older than the U.S. median of 37.3 by about 3 years.
Is Panama City, Florida urban or rural?
Averaged over its land area, Panama City, Florida has 833 people per square mile, a density typical of a mix of suburbs, small towns and farmland. That is about 9.6 times the U.S. average of 86.
Can a typical household afford a home in Panama City, Florida?
The median home costs 6.6 times the median household income ($405,868 against $61,596), compared with 3.1 times nationally. A ratio of about 3 is traditionally considered affordable. Median rent of $1,334 a month takes about 26% of the median household's income, below the 30% level at which HUD considers renters cost-burdened.
How common is a college degree in Panama City, Florida?
23.2% of adults in Panama City, Florida hold a bachelor's degree or higher (about 1 in 4), well below the U.S. share of 31.6%.
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