Studio Apartment Rent in Panama City, FL
Median asking rent for a studio apartment in Panama City, Florida as of July 2026. That's +27% lower than the citywide median of $1,744 and +2% below the national studio median of $1,290.
Income needed for a studio 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 studio 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 studio in Florida
| # | City | Studio rent |
|---|---|---|
| 1 | Pinewood | $360 |
| 2 | Palatka | $780 |
| 3 | Lake City | $840 |
| 4 | Belleview | $860 |
| 5 | Hernando | $860 |
| 6 | Crystal River | $865 |
| 7 | Treasure Island | $872 |
| 8 | Sebring | $875 |
| 9 | Auburndale | $910 |
| 10 | Bartow | $910 |
| 11 | Ocklawaha | $910 |
| 12 | Lake Alfred | $920 |
| 13 | Lake Placid | $930 |
| 14 | Cape Canaveral | $940 |
| 15 | Freeport | $940 |
Most expensive cities for a studio in Florida
| # | City | Studio rent |
|---|---|---|
| 1 | Key Biscayne | $2,560 |
| 2 | Weston | $2,547 |
| 3 | Doral | $2,450 |
| 4 | Aventura | $2,390 |
| 5 | Loxahatchee | $2,380 |
| 6 | Parkland | $2,365 |
| 7 | Windermere | $2,360 |
| 8 | Lithia | $2,350 |
| 9 | Coral Gables | $2,235 |
| 10 | West Miami | $2,220 |
| 11 | Pembroke Pines | $2,220 |
| 12 | Miami Beach | $2,203 |
| 13 | Royal Palm Beach | $2,178 |
| 14 | The Hammocks | $2,170 |
| 15 | Apollo Beach | $2,170 |
Nearby cities — studio rent
Considering nearby alternatives? 5 of these cities have cheaper studio rents than Panama City.
| City | Distance | Studio rent | vs Panama City |
|---|---|---|---|
| Callaway, FL | 3.6 mi | $1,116 | $-154 (-12%) |
| Lynn Haven, FL | 4.8 mi | $1,550 | +$280 (+22%) |
| Panama City Beach, FL | 13.8 mi | $1,553 | +$283 (+22%) |
| Inlet Beach, FL | 29.6 mi | $1,430 | +$160 (+13%) |
| Freeport, FL | 39.7 mi | $940 | $-330 (-26%) |
| Santa Rosa Beach, FL | 41.4 mi | $1,360 | +$90 (+7%) |
| Destin, FL | 60.9 mi | $1,660 | +$390 (+31%) |
| Niceville, FL | 61.8 mi | $1,440 | +$170 (+13%) |
| Shalimar, FL | 68.9 mi | $1,360 | +$90 (+7%) |
| Dothan, AL | 71.5 mi | $783 | $-487 (-38%) |
| Fort Walton Beach, FL | 74.4 mi | $1,185 | $-85 (-7%) |
| Daleville, AL | 74.6 mi | $670 | $-600 (-47%) |
Studio rent in Panama City — common questions
How much is a studio apartment in Panama City?
As of July 2026, the median studio apartment rent in Panama City, Florida is $1,270 per month. This is +27% below the citywide median of $1,744.
What income do you need to afford a studio in Panama City?
Using the standard 30% rent-to-income rule, you would need an annual income of about $50,800 ($4,233/month gross), which works out to roughly $24.42/hour at a full-time job.
Is Panama City expensive for a studio compared to the rest of the US?
Panama City's studio median of $1,270 is +2% below the national studio median of $1,290. It ranks in the 48th percentile of US cities tracked.
How does Panama City rank for studio rent in Florida?
Among the 261 cities in Florida with studio data, Panama City ranks #72 from cheapest to most expensive.
Are there cheaper studio options near Panama City?
Yes — nearby cities with cheaper studio rents include Callaway ($1,116), Freeport ($940), Dothan ($783).