ZIP 32407
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Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).
12-month history
Last updated: October 17, 2026
What the numbers show
January. Asking rents in ZIP 32407 usually run 1.7% below trend in January and 1.6% above it in August, about $57 a month apart at today's median. Based on 6 years of data.
Rent in ZIP 32407 is 7% below its high of $1,862 in July 2022, at $1,732 as of September 2026.
Rent in ZIP 32407 changed +2.5% over the year to September 2026. Across the 623 Florida ZIP codes Zillow tracks, the typical change was +1.8%.
Rent has risen 4 months in a row, and rose in 10 of the last 12 months.
30% of the median household income ($80,831) is $2,021 a month. That covers HUD's Fair Market Rent for up to a 1-bedroom ($1,970); a 2-bedroom is $2,240.
1st cheapest of 3 ZIP codes in Panama City Beach.
ZIP 32401, 8 miles away, rents for 13% less ($1,513/mo), about $2,600 a year in savings.
From Zillow's monthly rent index (ZORI) for ZIP 32407. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
Who lives here
ZIP 32407 (Panama City Beach, FL) is majority owner-occupied, 40% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How ZIP 32407 in Panama City Beach, FL has changed in 5 years
Five years ago, renters in ZIP 32407 in Panama City Beach, FL paid around $1,573 a month. That figure now sits near $1,732, 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.
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Tips for renters in ZIP 32407
Last updated: October 17, 2026
ZIP code 32407 covers Panama City Beach, FL. The median rent here is $1,732/mo as of October 2026. A 1-bedroom rents for a median of $1,394/mo. A 2-bedroom rents for a median of $1,585/mo.
At 26% of local median household income ($80,831/yr), ZIP 32407 ranks as affordable compared to the national benchmark of 30%. Rents have increased 2.5% over the past year.
Frequently asked questions
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How does ZIP 32407 compare to other ZIPs in Florida?
How does ZIP 32407 compare to the rest of Panama City Beach?
At $1,732/mo, rent takes ~26% of ZIP 32407's median household income ($80,831/yr). The standard benchmark is 30%.
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