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Panama City Beach city, FL

ZIP 32407 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Middle ClassLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 32407

Median Home Value
$403,500
Median Rent
$1,576
Affordability Snapshot
$111,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$2,592/mo PITI).

24%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

5.1x
Home Price-to-Income Ratio

Well above the 3-5x guideline — challenging for first-time buyers.

21.3 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 32407 in Panama City Beach city, FL, a household would need roughly $111,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $2,592. That is about 40% above the local median household income ($79,052), so the median earner would likely stretch or need a larger down payment. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Vacancy rate 46% — check local market conditions.

Heating Fuel
Housing Metrics
Owner Occupied
61.0%-7% vs US avg
x
Vacancy Rate
45.6%+343% vs US avg
x
Broadband Access
95.8%+10% vs US avg
x
4+ Bedrooms
1.7%-89% vs US avg
x
Built Pre-1939
0.7%-95% vs US avg
x
Built Post-2014
3.1%-56% vs US avg
x
Rent Burden >30%
27.6%-45% vs US avg
x
Mortgage-Free
33.6%-12% vs US avg
x
$403,500
Home Value
$1,576
Rent
2001
Year Built
2019
Moved In

Residents have lived here since ~2019 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached28.0%
  • 1-unit attached7.3%
  • 2-9 units9.7%
  • 10+ units52.6%
  • Mobile home & other2.4%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$403,500
Median rent$1,576
Owner-occupied61.0%
Vacant45.6%
Price-to-income5.1x
Est. income to buy$111,000