3-Bedroom Apartment Rent in Panama City, FL
Median asking rent for a 3-bedroom apartment in Panama City, Florida as of July 2026. That's +15% higher than the citywide median of $1,744 and +6% below the national 3-bedroom median of $2,130.
Income needed for a 3-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 3-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 3-bedroom in Florida
| # | City | 3-Bedroom rent |
|---|---|---|
| 1 | Pinewood | $1,249 |
| 2 | Bunnell | $1,270 |
| 3 | Palatka | $1,310 |
| 4 | Lake City | $1,350 |
| 5 | Polk City | $1,363 |
| 6 | Belleview | $1,460 |
| 7 | Auburndale | $1,520 |
| 8 | Bartow | $1,520 |
| 9 | Lake Alfred | $1,520 |
| 10 | Ocklawaha | $1,520 |
| 11 | Hernando | $1,530 |
| 12 | Crawfordville | $1,540 |
| 13 | Valparaiso | $1,547 |
| 14 | Crystal River | $1,555 |
| 15 | Sebring | $1,570 |
Most expensive cities for a 3-bedroom in Florida
| # | City | 3-Bedroom rent |
|---|---|---|
| 1 | Weston | $4,747 |
| 2 | Key Biscayne | $4,510 |
| 3 | Parkland | $4,410 |
| 4 | Doral | $4,310 |
| 5 | Aventura | $4,210 |
| 6 | Loxahatchee | $4,150 |
| 7 | Pembroke Pines | $4,143 |
| 8 | Plantation | $3,997 |
| 9 | Coral Gables | $3,935 |
| 10 | Miami Beach | $3,880 |
| 11 | The Hammocks | $3,820 |
| 12 | Lithia | $3,800 |
| 13 | Bal Harbour | $3,760 |
| 14 | Sunrise | $3,730 |
| 15 | The Crossings | $3,710 |
Nearby cities — 3-bedroom rent
Considering nearby alternatives? 4 of these cities have cheaper 3-bedroom rents than Panama City.
| City | Distance | 3-Bedroom rent | vs Panama City |
|---|---|---|---|
| Callaway, FL | 3.6 mi | $1,947 | $-60 (-3%) |
| Parker, FL | 3.7 mi | $1,773 | $-234 (-12%) |
| Lynn Haven, FL | 4.8 mi | $2,420 | +$413 (+21%) |
| Panama City Beach, FL | 13.8 mi | $2,430 | +$423 (+21%) |
| Inlet Beach, FL | 29.6 mi | $2,550 | +$543 (+27%) |
| Freeport, FL | 39.7 mi | $1,680 | $-327 (-16%) |
| Santa Rosa Beach, FL | 41.4 mi | $2,420 | +$413 (+21%) |
| Miramar Beach, FL | 53.5 mi | $2,956 | +$949 (+47%) |
| Destin, FL | 60.9 mi | $2,970 | +$963 (+48%) |
| Niceville, FL | 61.8 mi | $2,590 | +$583 (+29%) |
| Valparaiso, FL | 65.4 mi | $1,547 | $-460 (-23%) |
| Shalimar, FL | 68.9 mi | $2,450 | +$443 (+22%) |
3-Bedroom rent in Panama City — common questions
How much is a 3-bedroom apartment in Panama City?
As of July 2026, the median 3-bedroom apartment rent in Panama City, Florida is $2,007 per month. This is +15% higher than the citywide median of $1,744.
What income do you need to afford a 3-bedroom in Panama City?
Using the standard 30% rent-to-income rule, you would need an annual income of about $80,280 ($6,690/month gross), which works out to roughly $38.60/hour at a full-time job.
Is Panama City expensive for a 3-bedroom compared to the rest of the US?
Panama City's 3-bedroom median of $2,007 is +6% below the national 3-bedroom median of $2,130. It ranks in the 44th percentile of US cities tracked.
How does Panama City rank for 3-bedroom rent in Florida?
Among the 276 cities in Florida with 3-bedroom data, Panama City ranks #53 from cheapest to most expensive.
Are there cheaper 3-bedroom options near Panama City?
Yes — nearby cities with cheaper 3-bedroom rents include Callaway ($1,947), Parker ($1,773), Freeport ($1,680).