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Bay County Real Estate - Panama City

Panama City is the largest city between Tallahassee and Pensacola and should be distinguished from Panama City Beach, which is an entirely different city. Panama City is a working class, industrial city with a power plant and a paper manufacturer acting as the major employers. Panama City is also home to Tyndall Air Force Base and a US Naval Base. The city acts as a popular fishing and boating location for residents, given its close proximity to the Gulf, but attracts fewer tourists than neighboring areas.

Panama City is in North West Florida. It's population as recorded in the 2010 Census was 36,484. Panama City .

The median age for residents of Panama City is 39.7. Around 27.8% of Panama City households include school aged children and 27.9% of households include individuals aged 65 years or over. Census records indicate 71.6% of the Panama City population are White, 21.9% are Black or African American, .5% American Indian, 1.6% Asian and 2.8% are Two or more Races.

There are 17,438 housing units in Panama City. 2,646 (15.1%) of these were reported as vacant in the 2010 Census. There are 8,233 residential rental units in Panama City. 6,909 of them were occupied in 2010 providing a residential rental vacancy rate of 15.8%.

Panama City links:

• Wikipedia
• Panama City Website

Links

• Panama City Real Estate Market Data
• Bay County Real Estate Market Data
• Walkscore for Zipcode 32401
• Panama City, FL Property Values on Trulia

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Bay County

Bay County is part of the Northwest Florida region, along with Santa Rosa, Escambia, Walton, Holmes, Jackson, Washington, Okaloosa, Calhoun, Liberty, Gulf, Franklin, Gadsden, Leon, Jefferson, and Wakulla counties. The largest industries by employment for Bay County are educational, health and social services; retail trade, and arts, entertainment, recreation, accommodation and food services. Bay County's white sand beaches and clear blue waters attract many visitors year round.

Top private sector employers in Bay County are Bay Medical center, Wal-Mart, Eastern Ship Building, Gulf Coast Medical Center, and Smurfit- Stone Container Corporation. Major public sector employers are Tyndall Air Force Base, Naval Support, Bay District schools, Gulf Coast State College, City of Panama City, Bay County Board, and Bay County Sheriff. Cities and towns in Bay County include Callaway, Lynn Haven, Mexico Beach, Panama City (county seat), Panama City Beach, Parker, and Springfield.

Neighboring Properties

Address	Type	Sq Ft	Class
918 7th Ct W	Single Family	3,364	B
798 Wood Ave	Single Family	2,151	A
914 7th Ct W	Single Family	2,371	B
797 Wood Ave	Single Family	2,587	B
799 Wood Ave	Single Family	2,377	B
919 7th Ct W	Single Family	1,861	B
821 8th St W	Single Family	3,631	B
801 Wood Ave	Single Family	2,598	B
812 Moore Cir	Single Family	2,831	B
915 7th Ct W	Single Family	2,156	B
819 8th St W	Single Family	3,017	B
817 8th St W	Single Family	3,006	B
790 Skyland Ave	Single Family	2,843	B
796 Skyland Ave	Single Family	1,332	B
803 Wood Ave	Single Family	2,175	B
715 Moore Cir	Single Family	2,266	B
922 Beach Dr W	Single Family	3,588	B
932 Beach Dr W	Single Family	4,524	B
815 8th St W	Single Family	3,266	B
800 Skyland Ave	Single Family	2,358	B
800 Wood Ave	Vacant Residential	0	B
934 Beach Dr W	Single Family	3,370	B
820 Moore Ct	Single Family	2,262	B
938 Beach Dr W	Single Family	2,716	B
713 Moore Cir	Single Family	2,336	B
805 Wood Ave	Single Family	2,255	B
920 Beach Dr W	Single Family	2,993	B
910 Beach Dr W	Single Family	2,693	B
918 Beach Dr W	Single Family	3,002	B
802 Skyland Ave	Single Family	2,025	B
914 Beach Dr W	Single Family	2,622	B

Local Household Income

The median household income in this part of Florida is $57,128. The bottom 10% of the population earn less than $18,447 per year. The top 10% earn more than $136,019 per year. The top 1% earn more than $426,588 per year. Most renters earn between $29,172 (20th percentile) and $54,264 (80th percentile) per year. Someone earning the median household income in this area is likely to qualify for a mortgage between $114,256 and $142,820.

The tax assessed value of this property places it in percentile 88 of all properties in this area. This suggests it would appeal to someone earning around $127,186 per year who should qualify for a mortgage between $254,372 and $317,965.

Source: US Census American Community Survey - 2008-2012 ACS 5-year PUMS estimates

Local Rents

The median monthly rent in this part of Florida is $937. Most renters earn between $2,431 and $4,522 per month. They typically spend 31% of their monthly income on rent. Most rents fall in the $665 (20th percentile) to $1,275 (80th percentile) range. The residential vacancy rate is 18%.

This property falls in percentile 88 of all properties in this area. This corresponds to a rent of $1,441 per month and a monthly household income of $5,160 ($61,920 per year)

Nearby Companies