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Panama City Real Estate For Sale In FL

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Almost entirely surrounded by water, Panama City is a thriving city in Bay County, FL, and a desirable market for Florida real estate in the panhandle. Families, retirees, and young professionals are drawn to Panama City’s beach-centered amenities and recreation, affordable waterfront properties, accessible services, and a strong sense of community. Panama City, FL, real estate might be your best bet if you plan to plant roots along Florida’s upper Gulf shoreline.

More About Panama City, FL Real Estate

Panama City, FL, is a coastal city and the county seat of Bay County in the northwest part of the Florida Panhandle. Panama City real estate is encircled by St. Andrew Bay, Grand Lagoon, and North Bay and is not far from the Gulf of Mexico.
With so much water around, Panama City is an ideal spot for beach-goers and outdoor enthusiasts in Bay County. The city offers miles of shining white sand beaches with incredible sunsets, fishing charters and plenty of opportunities to enjoy water sports like paddleboarding, kayaking, snorkeling, diving, and parasailing.
Those who prefer to spend their time ashore can explore historic Panama City with its collection of boutiques, galleries, and restaurants -plus Museum of Man in the Sea and its interactive submarine exhibits- that treat visitors to a unique exploration into undersea life. Treasure hunters can search for special items along Shell Island or duck into the quaint shops down on Harrison Avenue full of unique finds and antiques.

Panama City, FL Nearby Cities

Panama City, FL Real Estate Market

As Panama City allures more and more transplants from both within Florida and out-of-state, the Panama City real estate market has steadily increased over the past year. With a median listing price of $327K, real estate in Panama City is cheaper than the state’s average, and properties have experienced a 17% growth year over year.
Panama City real estate is a true haven for house hunters, offering everything from picturesque townhomes to modern bayfront condos. Nevertheless, single-family homes for sale in Panama City make up the majority of the Panama City housing stock at an impressive 61%. The majority of the single-family dwellings in this city tend to be two or three-bedroom homes constructed in the 70s or 80s that are typically on the market for a 38 day period.
As far as home design is concerned, real estate in Panama City, FL, features a variety of adorable beach bungalows, the traditional Florida ranch-style homes, and some luxurious estates of brick construction with family-friendly amenities like pools, garages, and spacious backyards.
Investing in condos for sale in Panama City is a good decision for anyone looking to enter the North Florida housing market. These units offer incredible value and potential return on investment, making them perfect either for long-term living, lease, or short-term renting.
Even with properties soaring in this area, property seekers in Panama City can still swoop up an affordable condo unit, with median sale prices standing at $274K. Condos in Panama City are typically in mid or low-rise buildings; however, there are some stunning high-rises scattered along the western coast of Saint Andrew Bay.

Panama City, FL Neighborhoods & Suburbs


Panama City real estate is booming, and that’s no different when it comes to the Glenwood neighborhood. Located about 20-30 minutes from Panama City Beach, this suburban paradise is characterized by large lots, mature trees shading winding roads, and beautiful homes for residents of all ages.
Growing families can benefit from its many amenities, including solid schools and spacious parks with playgrounds; meanwhile its proximity to Panama City Beach means nearby weekend fun in the sun or world-class shopping.

Forest Hill

Situated just a mile inland from Panama City Beach, Forest Hills is a hub of living options in Panama City, Florida. Forest Hill real estate range from quaint bungalows to multi-story houses and waterfront condos that fit every budget.
Conveniently close to SweetBay Chickadee Park, schools, marinas, and shopping and dining options for added convenience it’s no wonder that this family-friendly neighborhood is one of the most popular Panama City real estate options on the market.

Lynn Haven

If you’re looking for Panama City real estate, the city of Lynn Haven is a great place to start. Home to approximately 18K people, this peaceful city in Bay County is surrounded by bayous and pristine nature while offering easy access to shopping spots, entertainment venues and an abundance of activities to explore.
This Panama City locale offers a selection of housing options for sale, ranging from petite bungalows to grand new construction manors by the ocean. Lynn Haven appeals to retirees and young families looking for a suburban environment near top schools and green golf courses. The median home price in this Panam City suburb is $315K.

Panama City, FL Schools

Panama City real estate offers relocators a mix of public and private schooling options for children of all ages. There are approximately 42 public K-12 schools in Panama City, all under the guidance of Bay District Schools and serving around 26K students. There are 18 elementary schools, six middle schools, five high schools, two multi-grade institutions, and three special education centers across the district.
Private schooling options are less abundant and most of them are faith-based. Those planning to build a career in Panama City have access to top-notch higher education options. Keep reading for a list of Panama City schools:

Public Schools In Panama City, Florida

Elementary Schools In Panama City, FL

  • Hiland Park Elementary School
  • Northside Elementary School
  • Parker Elementary School
  • Callaway Elementary School
  • Cedar Grove Elementary School
  • Deer Point Elementary School

Middle Schools In Panama City, FL

  • Mowat Middle School
  • Surfside Middle School
  • Breakfast Point Academy
  • Deane Bozeman School
  • Jinks Middle School
  • Merritt Brown Middle School

High Schools In Panama City, FL

  • Deane Bozeman School
  • J.R. Arnold High School
  • Rosenwald High School
  • Rutherford High School
  • A. Crawford Mosley High School
  • Bay High School

Private Schools In Panama City, Florida

  • Panama City Advanced School
  • Covenant Christian School
  • St. John Catholic Academy
  • Eagle Nest Christian Academy
  • Holy Nativity Episcopal School

Colleges & Universities Near Panama City, Florida

  • Florida State University – Panama City Campus
  • Gulf Coast State College

Frequently Asked Questions About Panama City, FL Real Estate

What Is The Zip Code For Panama City, Florida?

Panama City, FL contains six unique zip codes. If you’re looking for real estate in Panama City, be sure to check out the active listings in these zip codes:  32401 | 32402 | 32404 | 32405 | 32406 | 32412

Where Is The Nearest Commercial Airport For Panama City, Florida?

If you’re searching for real estate in Panama City, FL, the closest commercial airport is Panama City NW Florida Beaches (ECP). The airport rests just 23 miles, or a mere 30 minutes away from the downtown area.

What County Is Panama City In?

Panama City is a city and the county seat of Bay County, Florida.

Is Panama City A Good Place To Buy Real Estate?

It offers profitable, sustainable, and valuable real estate properties hence its popularity. Additionally, it is growing at a faster rate compared to other regions. With the vast sugar-white beaches and magnificent sceneries, there is always something going on in this community. Jul 11, 2022

Is Panama City, FL, A Good Place To Live?

Panama City, FL has a great balance of outdoor adventure, coastal culture and city living to be the perfect place to call home. If you are seeking a higher education, Florida State University’s nearby campus or Gulf Coast State College offer plentiful academic opportunities.
With its proximity to the beautiful white beaches of the Gulf Coast, a variety of water sports awaits along with plenty of water-based activities and sightseeing opportunities. Inland, you have an evergreen landscape filled with parks, trails and scenic views. Downtown is popping with local restaurants, boutique shopping and a great nightlife scene.

What Is Panama City Known For?

Panama City, FL is a hidden gem of the Florida Panhandle. While the white sand beaches and emerald waters draw many tourists to the area every year, there’s more than just sunshine and surf to Panama City. The downtown scene offers a unique experience for visitors and locals alike, with lively local bars and restaurants serving up traditional Southern dishes.
Despite its small-town feel, Panama City has plenty of big city attractions, like the world renowned habitat at Zoo World, Race City Speedway, and Shipwreck Island Water Park. Not to mention all manner of outdoor activities perfect for all ages, such as deep-sea fishing charters that venture out into St. Andrew Bay or simply strolling down historic Hathaway Bridge in search of dolphins playing off into the Gulf of Mexico.

How Much Do You Need To Make To Live In Panama City, Florida?

The answer to this question depends on several different factors; however we can give you some general guidelines. Panama City has a pretty affordable cost of living and plenty of available jobs so if you’re after a low-key lifestyle with access to amenities you might be able to achieve that with an average salary of around $50K.
With that said, it’s possible for individuals, retirees, and families to settle down comfortably in Panama City and enjoy everything this friendly coastal community has to offer without breaking the bank.

Things To Do In Panama City, FL

Museums In Panama City, Florida

  • Ripley’s Believe It or Not!: This museum provides visitors with a unique experience they won’t soon forget. This must-see attraction in Downtown Panama City includes exhibits such as an indoor Mirror Maze and 4D theater, the Sci Fi Zombie Room and the Odditorium filled with strange artifacts.
  • Science & Discovery Center of Northwest Florida: Visiting the Science & Discovery Center of Northwest Florida is a must for inquisitive minds. It’s an excellent way to learn about the local environment, explore fascinating science and technology exhibits, and even participate in interactive classes. The center has a variety of activities designed to spark scientific curiosity in visitors of all ages.

Family Fun In Panama City, Florida

  • Gulf World Marine Park:  With both educational and entertaining shows, as well as animal encounters and interactive pools, this park has something for everyone. The park has one-of-a-kind experiences like swimming with dolphins or seeing a show with professionally trained sea lions.
  • Coconut Creek Family Fun Park: Coconut Creek Family Fun Park is a great spot for families residing in Panama City, Florida, real estate. If you’re looking for an exciting day out with the kids, this park features four mini golf courses, two go-kart tracks, bumper cars, batting cages, and plenty of arcade games.

Parks In Panama City, FL

  • St. Andrews State Park: St. Andrews State Park is a coastal paradise in the Florida panhandle. Situated between the Gulf of Mexico and St. Andrew Bay, it boasts miles of white-sanded beaches, diverse wildlife, plenty of outdoor activities, and two fishing piers for visitors to enjoy.
  • Conservation Park: This uncrowded park encompasses 2,900 acres, over 24 miles of hiking and biking trails, and over a mile of boardwalks. The area offers plenty of space to soak in the natural beauty, whether it be exploring the wide variety of plants, sailing along on a kayak or canoe, or enjoying an afternoon picnic
  • Shipwreck Island Waterpark: This family-friendly waterpark features over 15 acres of spectacular attractions and rides such as the Corkscrew Roller Coaster, Pirate’s Plunge, and Skull’s Pool. In addition to these thrilling attractions, Shipwreck Island offers a kiddy pool, lazy river, zoom flume, and a wide variety of food options.

Living In Panama City, FL

Panama City Cost Of Living

If you’re looking for an affordable urban lifestyle, Panama City is a perfect choice in Bay County. reports that the cost of living index in Panama City rests at 88.4, which is much lower than both Florida and America’s averages – 103.1 and 100 respectively. Buying Panama City real estate is one of the most budget-friendly expenses followed by groceries and transportation. Other costs, like healthcare and utilities will be comparable to the state’s average.

Panama City Weather

Panama City’s mild climate attracts tourists from around the world and plays a key role in Panama City’s booming real estate market. Panama City is a humid subtropical area that experiences very short, mild winters and hot summers that can last for months. The coldest month in Panama City is January, when temperatures hover around 50°F. On the other hand, July is the hottest time of the year and has average highs of 91°F.

Panama City Healthcare Services

Despite being a mid-size city and often overlooked in comparison to larger metropolitan areas in the state, Panama City boasts an array of quality hospitals and clinics that feature state-of-the-art equipment and attentive care. The top healthcare providers include Ascension Sacred Heart Bay, a 202-bed hospital home to the only trauma center in the area; and HCA Florida Gulf Coast Medical Center that provides emergency care and a postpartum unit. It is also the only accredited chest pain center in the region. Additional healthcare providers near Panama City real estate include:

  • Pronto Medical Care
  • Nation’s Best Family Health Care
  • Interim HealthCare of Panama City, FL
  • Crescent Healthcare

Job Market In Panama City, FL

Panama City’s thriving economy is predominantly powered by the hospitality, manufacturing, retail, and real estate sectors. If you are purchasing Panama City real estate and looking for employment, the military presents a unique opportunity with Tyndall Air Force Base and Naval Support Activity Panama City located in this area. The city’s most prominent employers are:

  • The Federal Government
  • Eastern Shipbuilding Group
  • Gulf Power
  • Trane
  • L-3 Communications

Transportation In Panama City, FL

Panama City, like other towns in Florida, is heavily reliant on cars for transportation with a walk score of only 33 out of 100. With five main roads in or near Panama City real estate navigating through this region of Florida’s panhandle is a breeze. Those roads are US 98, US 231, SR 77, SR 390 and SR 368.
Located on the stunning St. Andrews Bay, Panama City is almost entirely enclosed by water, so bridges are a must to connect the city from all sides. Three major routes across parts of the bay make this possible: Bailey Bridge to the north, Dupont Bridge to the south, and Hathaway Bridge to the west.
If you’re in search of public transit options near Panama City real estate, The Bay Line Railroad offers service north to Dothan Alabama and the local area is serviced by bus routes operated by Baytown Trolley. Northwest Florida Beaches International Airport (ECP) is the go-to hub for air travel.

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