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ZIP Code · FL

ZIP 32407

Pop. 16,404·Bay County·571st most expensive ZIP in Florida
Median rent (all units)
$1,653/mo
Year-over-Year
+5.7%
Month-over-Month
+1.9%
vs US Median
-$312
Rising (Monthly)
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Most AffordableMost Expensive
ZIP 32407 · $1,653
More affordable than 62% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$1,283
1 BR
$1,330
2 BR
$1,512
3 BR
$1,951
4 BR+
$2,417
Research median
$1,512/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
$19,836/yr
At $1,653/mo median
Location
StateFL
CountyBay County
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 5.7% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+5.7% YoY, +1.9% MoM), not inventory.
Demographics

Who lives here

ZIP 32407 (Panama City Beach, FL) is majority owner-occupied, 40% of residents hold a bachelor's degree or higher.

Population
16,404
Median income
$80,831
Median age
38.2
Renters
43.6%
Age distribution
21.4%
22.3%
25.1%
15.5%
15.7%
Under 1821.4%
18–3422.3%
35–5425.1%
55–6415.5%
65+15.7%
Gender
52.3%
47.7%
Male52.3%
Female47.7%
Race & ethnicity
73.9%
12.3%
White73.9%
Black7.1%
Hispanic12.3%
Asian2.4%
Other4.3%
Education (25+)
18.4%
37%
40%
No HS diploma4.6%
HS diploma18.4%
Some college37%
Bachelor's+40%
Housing tenure
56.4%
43.6%
Owner56.4%
Renter43.6%

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

2021 vs 2026

How ZIP 32407 in Panama City Beach, FL has changed in 5 years

Rent
$1,501 → $1,653
up 10.1%
Income
$64,102 → $80,831
up 26.1%
Population
14,355 → 16,404
up 14.3%
Renter share
42.3% → 43.6%
+1.3 pts
Bachelor's+
35% → 40%
+5.0 pts
Median age
38.8 → 38.2
-0.6 yrs

Five years ago, renters in ZIP 32407 in Panama City Beach, FL paid around $1,501 a month. That figure now sits near $1,653, up 10.1% from the 2021 baseline. Local incomes tracked alongside that move, going from a median of $64,102 in 2021 to $80,831 more recently. With wages climbing faster than rent over the same window, renters here have a bit more breathing room than they did five years back. Census counts show ZIP 32407 in Panama City Beach, FL adding about 2,049 residents over the five-year window, up 14.3% on net. Bachelor's-degree-or-higher attainment moved from 35% to 40% across the same window. These shifts give renters and would-be renters a longer baseline for sizing up today's listings against the ZIP 32407 in Panama City Beach, FL market of 2021.

Community

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Local insights

Tips for renters in ZIP 32407

About renting in ZIP 32407

Last updated: July 20, 2026

ZIP code 32407 covers Panama City Beach, FL. The median rent here is $1,653/mo as of July 2026. A 1-bedroom rents for a median of $1,330/mo. A 2-bedroom rents for a median of $1,512/mo.

At 25% of local median household income ($80,831/yr), ZIP 32407 ranks as affordable compared to the national benchmark of 30%. Rents have increased 5.7% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 32407?

As of July 20, 2026, the median monthly rent in ZIP 32407 (Panama City Beach, FL) is $1,653. This is based on aggregated data from public sources and community submissions.

How does ZIP 32407 rent compare to the US average?

ZIP 32407's median rent of $1,653/mo is $312 (16%) below the US national median of $1,965/mo.

How does ZIP 32407 compare to other ZIPs in Florida?

ZIP 32407 is among the more affordable ZIP codes in Florida, ranking #571 out of 662 ZIPs at $1,653/mo.

How much income do you need to rent in ZIP 32407?

To keep rent at or below 30% of gross income, you would need to earn at least $66,000/year (~$32/hour full-time) to afford the median rent of $1,653/mo in ZIP 32407. The local median household income is $80,831/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 32407?

Rent in ZIP 32407 has increased 5.7% over the past year as of July 20, 2026, putting upward pressure on renter budgets.

Is ZIP 32407 an affordable place to rent?

ZIP 32407 is considered affordable for renters. At $1,653/mo, rent takes approximately 25% of the local median household income ($80,831/yr). The standard benchmark is 30%. ZIP 32407 falls comfortably within that range.

What percentage of ZIP 32407 residents rent vs. own?

According to Census data, approximately 43.6% of ZIP 32407 households are renters, while 56.4% are owner-occupied. ZIP 32407 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 32407 compare to the rest of Panama City Beach?

ZIP 32407 is more affordable than Panama City Beach overall. At $1,653/mo, it's $13 below the Panama City Beach citywide median of $1,666/mo.

When was rent data for ZIP 32407 last updated?

Rent data for ZIP 32407 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
25%
AFFORDABLE

At $1,653/mo, rent takes ~25% of ZIP 32407's median household income ($80,831/yr). The standard benchmark is 30%.

ZIP 32407 25%Benchmark 30%
State income taxNone
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Schools nearby

Public schools near ZIP 32407 (Panama City Beach, FL)

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