2-Bedroom Apartment Rent in Panama City, FL
Median asking rent for a 2-bedroom apartment in Panama City, Florida as of July 2026. That's +14% lower than the citywide median of $1,744 and +9% below the national 2-bedroom median of $1,660.
Income needed for a 2-bedroom in Panama City
Using the standard 30% rent-to-income guideline (the threshold above which households are considered rent-burdened), here's what you need to earn to comfortably afford a 2-bedroom at the current median rent.
Rent by apartment size in Panama City
Compare Panama City's median rent across every apartment size.
Cheapest cities for a 2-bedroom in Florida
| # | City | 2-Bedroom rent |
|---|---|---|
| 1 | Valparaiso | $892 |
| 2 | Polk City | $952 |
| 3 | Bunnell | $999 |
| 4 | Palatka | $1,030 |
| 5 | Hernando | $1,090 |
| 6 | Lake City | $1,110 |
| 7 | Ave Maria | $1,115 |
| 8 | Crystal River | $1,115 |
| 9 | Auburndale | $1,130 |
| 10 | Bartow | $1,130 |
| 11 | Lake Alfred | $1,130 |
| 12 | Belleview | $1,140 |
| 13 | Lake Wales | $1,170 |
| 14 | Homosassa | $1,190 |
| 15 | Ocklawaha | $1,190 |
Most expensive cities for a 2-bedroom in Florida
| # | City | 2-Bedroom rent |
|---|---|---|
| 1 | Highland Beach | $3,501 |
| 2 | Key Biscayne | $3,490 |
| 3 | Weston | $3,440 |
| 4 | Doral | $3,340 |
| 5 | Aventura | $3,260 |
| 6 | Parkland | $3,195 |
| 7 | Loxahatchee | $3,180 |
| 8 | Coral Gables | $3,045 |
| 9 | Miami Beach | $3,003 |
| 10 | Pembroke Pines | $3,000 |
| 11 | Lithia | $2,970 |
| 12 | The Hammocks | $2,960 |
| 13 | Bal Harbour | $2,910 |
| 14 | Plantation | $2,893 |
| 15 | The Crossings | $2,870 |
Nearby cities — 2-bedroom rent
Considering nearby alternatives? 4 of these cities have cheaper 2-bedroom rents than Panama City.
| City | Distance | 2-Bedroom rent | vs Panama City |
|---|---|---|---|
| Callaway, FL | 3.6 mi | $1,319 | $-184 (-12%) |
| Parker, FL | 3.7 mi | $1,224 | $-279 (-19%) |
| Lynn Haven, FL | 4.8 mi | $1,820 | +$317 (+21%) |
| Panama City Beach, FL | 13.8 mi | $1,830 | +$327 (+22%) |
| Inlet Beach, FL | 29.6 mi | $1,820 | +$317 (+21%) |
| Freeport, FL | 39.7 mi | $1,200 | $-303 (-20%) |
| Santa Rosa Beach, FL | 41.4 mi | $1,730 | +$227 (+15%) |
| Miramar Beach, FL | 53.5 mi | $1,990 | +$487 (+32%) |
| Destin, FL | 60.9 mi | $2,140 | +$637 (+42%) |
| Niceville, FL | 61.8 mi | $1,860 | +$357 (+24%) |
| Valparaiso, FL | 65.4 mi | $892 | $-611 (-41%) |
| Shalimar, FL | 68.9 mi | $1,760 | +$257 (+17%) |
2-Bedroom rent in Panama City — common questions
How much is a 2-bedroom apartment in Panama City?
As of July 2026, the median 2-bedroom apartment rent in Panama City, Florida is $1,503 per month. This is +14% below the citywide median of $1,744.
What income do you need to afford a 2-bedroom in Panama City?
Using the standard 30% rent-to-income rule, you would need an annual income of about $60,120 ($5,010/month gross), which works out to roughly $28.90/hour at a full-time job.
Is Panama City expensive for a 2-bedroom compared to the rest of the US?
Panama City's 2-bedroom median of $1,503 is +9% below the national 2-bedroom median of $1,660. It ranks in the 40th percentile of US cities tracked.
How does Panama City rank for 2-bedroom rent in Florida?
Among the 282 cities in Florida with 2-bedroom data, Panama City ranks #47 from cheapest to most expensive.
Are there cheaper 2-bedroom options near Panama City?
Yes — nearby cities with cheaper 2-bedroom rents include Callaway ($1,319), Parker ($1,224), Freeport ($1,200).