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ZIP Code · FL

ZIP 32404

Pop. 42,514·Bay County·498th most expensive ZIP in Florida
Median rent (all units)
$1,809/mo
Year-over-Year
-4.7%
Month-over-Month
+3.3%
vs US Median
-$156
Rising (Monthly)
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Most AffordableMost Expensive
ZIP 32404 · $1,809
More affordable than 51% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$1,360
1 BR
$1,410
2 BR
$1,600
3 BR
$2,060
4 BR+
$2,560
Research median
$1,600/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: July 20, 2026

Annual cost
$21,708/yr
At $1,809/mo median
Location
StateFL
CountyBay County
Rent Market Meter
Balanced Market
Renter's MarketBalancedLandlord's Market
Rents are roughly steady, with neither renters nor landlords holding a strong edge right now.
Based on rent-price momentum (-4.7% YoY, +3.3% MoM), not inventory.
Demographics

Who lives here

ZIP 32404 (Panama City, FL) is majority owner-occupied, 23.4% of residents hold a bachelor's degree or higher.

Population
42,514
Median income
$74,708
Median age
37.1
Renters
30.8%
Age distribution
22.7%
23%
25.4%
14.6%
14.4%
Under 1822.7%
18–3423%
35–5425.4%
55–6414.6%
65+14.4%
Gender
51.5%
48.5%
Male51.5%
Female48.5%
Race & ethnicity
70.6%
13.3%
White70.6%
Black13.3%
Hispanic9.4%
Asian2.6%
Other3.9%
Education (25+)
33%
31.8%
23.4%
No HS diploma11.7%
HS diploma33%
Some college31.8%
Bachelor's+23.4%
Housing tenure
69.2%
30.8%
Owner69.2%
Renter30.8%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How ZIP 32404 in Panama City, FL has changed in 5 years

Rent
$1,443 → $1,809
up 25.4%
Income
$58,853 → $74,708
up 26.9%
Population
39,832 → 42,514
up 6.7%
Renter share
28.8% → 30.8%
+2.0 pts
Bachelor's+
17.5% → 23.4%
+5.9 pts
Median age
38.9 → 37.1
-1.8 yrs

Compared with 2021, rent in ZIP 32404 in Panama City, FL has increased by $366 per month, settling near $1,809 after starting the period at $1,443. Household income in the area moved from $58,853 to $74,708 across the same window, up 26.9% versus 2021. Headcount in the area went from 39,832 to 42,514 between 2021 and 2024, a 6.7% change. About 30.8% of households rent today, against 28.8% in 2021. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 17.5% to 23.4%. Reading these numbers side by side helps frame whether current listings in ZIP 32404 in Panama City, FL look reasonable against where the market sat half a decade ago.

Community

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Local insights

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About renting in ZIP 32404

Last updated: July 20, 2026

ZIP code 32404 covers Panama City, FL. The median rent here is $1,809/mo as of July 2026. A 1-bedroom rents for a median of $1,410/mo. A 2-bedroom rents for a median of $1,600/mo.

At 29% of local median household income ($74,708/yr), ZIP 32404 ranks as affordable compared to the national benchmark of 30%. Rents have decreased 4.7% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 32404?

As of July 20, 2026, the median monthly rent in ZIP 32404 (Panama City, FL) is $1,809. This is based on aggregated data from public sources and community submissions.

How does ZIP 32404 rent compare to the US average?

ZIP 32404's median rent of $1,809/mo is $156 (8%) below the US national median of $1,965/mo.

How does ZIP 32404 compare to other ZIPs in Florida?

ZIP 32404 is among the more affordable ZIP codes in Florida, ranking #498 out of 662 ZIPs at $1,809/mo.

How much income do you need to rent in ZIP 32404?

To keep rent at or below 30% of gross income, you would need to earn at least $72,000/year (~$35/hour full-time) to afford the median rent of $1,809/mo in ZIP 32404. The local median household income is $74,708/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 32404?

Rent in ZIP 32404 has decreased 4.7% over the past year as of July 20, 2026, offering some relief compared to 12 months ago.

Is ZIP 32404 an affordable place to rent?

ZIP 32404 is considered affordable for renters. At $1,809/mo, rent takes approximately 29% of the local median household income ($74,708/yr). The standard benchmark is 30%. ZIP 32404 falls comfortably within that range.

What percentage of ZIP 32404 residents rent vs. own?

According to Census data, approximately 30.8% of ZIP 32404 households are renters, while 69.2% are owner-occupied. ZIP 32404 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 32404 compare to the rest of Panama City?

ZIP 32404 is pricier than Panama City as a whole. At $1,809/mo, it's $65 above the Panama City citywide median of $1,744/mo.

When was rent data for ZIP 32404 last updated?

Rent data for ZIP 32404 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
29%
AFFORDABLE

At $1,809/mo, rent takes ~29% of ZIP 32404's median household income ($74,708/yr). The standard benchmark is 30%.

ZIP 32404 29%Benchmark 30%
State income taxNone
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Schools nearby

Public schools near ZIP 32404 (Panama City, FL)

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