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ZIP Code · FL

ZIP 32405

Pop. 29,984·Bay County·551st most expensive ZIP in Florida
Median rent (all units)
$1,684/mo
Year-over-Year
+5.0%
Month-over-Month
+3.9%
vs US Median
-$281
Rising (Monthly)
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Most AffordableMost Expensive
ZIP 32405 · $1,684
More affordable than 60% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$1,440
1 BR
$1,500
2 BR
$1,700
3 BR
$2,190
4 BR+
$2,720
Research median
$1,700/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
$20,208/yr
At $1,684/mo median
Location
StateFL
CountyBay County
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 5.0% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+5.0% YoY, +3.9% MoM), not inventory.
Demographics

Who lives here

ZIP 32405 (Panama City, FL) is majority owner-occupied, 30.8% of residents hold a bachelor's degree or higher.

Population
29,984
Median income
$73,373
Median age
36.2
Renters
40.5%
Age distribution
22.1%
26.2%
24.5%
17.4%
Under 1822.1%
18–3426.2%
35–5424.5%
55–649.8%
65+17.4%
Gender
47.5%
52.5%
Male47.5%
Female52.5%
Race & ethnicity
68.5%
16.4%
White68.5%
Black16.4%
Hispanic8%
Asian1.9%
Other5.3%
Education (25+)
24.7%
37.2%
30.8%
No HS diploma7.2%
HS diploma24.7%
Some college37.2%
Bachelor's+30.8%
Housing tenure
59.5%
40.5%
Owner59.5%
Renter40.5%

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

2021 vs 2026

How ZIP 32405 in Panama City, FL has changed in 5 years

Income
$61,947 → $73,373
up 18.4%
Population
29,999 → 29,984
down 0.1%
Renter share
38.8% → 40.5%
+1.7 pts
Bachelor's+
29.2% → 30.8%
+1.6 pts
Median age
38.5 → 36.2
-2.3 yrs

Household income in the area moved from $61,947 to $73,373 across the same window, up 18.4% versus 2021. Renters now make up 40.5% of households, compared with 38.8% five years ago.

Community

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Local insights

Tips for renters in ZIP 32405

About renting in ZIP 32405

Last updated: July 20, 2026

ZIP code 32405 covers Panama City, FL. The median rent here is $1,684/mo as of July 2026. A 1-bedroom rents for a median of $1,500/mo. A 2-bedroom rents for a median of $1,700/mo.

At 28% of local median household income ($73,373/yr), ZIP 32405 ranks as affordable compared to the national benchmark of 30%. Rents have increased 5.0% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 32405?

As of July 20, 2026, the median monthly rent in ZIP 32405 (Panama City, FL) is $1,684. This is based on aggregated data from public sources and community submissions.

How does ZIP 32405 rent compare to the US average?

ZIP 32405's median rent of $1,684/mo is $281 (14%) below the US national median of $1,965/mo.

How does ZIP 32405 compare to other ZIPs in Florida?

ZIP 32405 is among the more affordable ZIP codes in Florida, ranking #551 out of 662 ZIPs at $1,684/mo.

How much income do you need to rent in ZIP 32405?

To keep rent at or below 30% of gross income, you would need to earn at least $67,000/year (~$32/hour full-time) to afford the median rent of $1,684/mo in ZIP 32405. The local median household income is $73,373/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 32405?

Rent in ZIP 32405 has increased 5.0% over the past year as of July 20, 2026, putting upward pressure on renter budgets.

Is ZIP 32405 an affordable place to rent?

ZIP 32405 is considered affordable for renters. At $1,684/mo, rent takes approximately 28% of the local median household income ($73,373/yr). The standard benchmark is 30%. ZIP 32405 falls comfortably within that range.

What percentage of ZIP 32405 residents rent vs. own?

According to Census data, approximately 40.5% of ZIP 32405 households are renters, while 59.5% are owner-occupied. ZIP 32405 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 32405 compare to the rest of Panama City?

ZIP 32405 is more affordable than Panama City overall. At $1,684/mo, it's $60 below the Panama City citywide median of $1,744/mo.

When was rent data for ZIP 32405 last updated?

Rent data for ZIP 32405 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
28%
AFFORDABLE

At $1,684/mo, rent takes ~28% of ZIP 32405's median household income ($73,373/yr). The standard benchmark is 30%.

ZIP 32405 28%Benchmark 30%
State income taxNone
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Schools nearby

Public schools near ZIP 32405 (Panama City, FL)

Recent submissions

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