ZIP 32408
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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
Rent in ZIP 32408 is 2.3% below its high of $1,833 in July 2024, at $1,790 as of September 2026.
Rent in ZIP 32408 changed +1.1% over the year to September 2026. Across the 623 Florida ZIP codes Zillow tracks, the typical change was +1.8%.
Rent has risen 2 months in a row, and rose in 9 of the last 12 months.
30% of the median household income ($80,822) is $2,021 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,640); a 3-bedroom is $2,110.
2nd cheapest of 3 ZIP codes in Panama City Beach.
ZIP 32401, 4 miles away, rents for 15% less ($1,513/mo), about $3,300 a year in savings.
From Zillow's monthly rent index (ZORI) for ZIP 32408. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
Who lives here
ZIP 32408 (Panama City Beach, FL) is majority owner-occupied, has a large retiree population, 35.8% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How ZIP 32408 in Panama City Beach, FL has changed in 5 years
Rent in ZIP 32408 in Panama City Beach, FL has climbed 2.5% since 2023, going from about $1,746 per month to roughly $1,790 today. Household income in the area moved from $62,386 to $80,822 across the same window, up 29.6% versus 2021. Income growth outran rent by about 27.1 percentage points, easing the affordability math somewhat compared with 2021. Headcount in the area went from 19,821 to 18,832 between 2021 and 2024, a 5.0% change. About 37% of households rent today, against 29.3% in 2021. Reading these numbers side by side helps frame whether current listings in ZIP 32408 in Panama City Beach, FL look reasonable against where the market sat half a decade ago.
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Tips for renters in ZIP 32408
Last updated: October 17, 2026
ZIP code 32408 covers Panama City Beach, FL. The median rent here is $1,790/mo as of October 2026. A 1-bedroom rents for a median of $1,440/mo. A 2-bedroom rents for a median of $1,640/mo.
At 27% of local median household income ($80,822/yr), ZIP 32408 ranks as affordable compared to the national benchmark of 30%. Rents have increased 1.1% over the past year.
Frequently asked questions
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How does ZIP 32408 compare to other ZIPs in Florida?
How does ZIP 32408 compare to the rest of Panama City Beach?
At $1,790/mo, rent takes ~27% of ZIP 32408's median household income ($80,822/yr). The standard benchmark is 30%.
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