Panama City, FL Apartment Market & Multifamily Brokerage
Bay County, FL
Panama City is one of the deepest multifamily markets in our coverage area: 37,909 residents and 83 tracked properties totaling 7,064 units. A market this size supports real trading volume in almost any cycle.
The numbers stand out: 186.3 apartment units per 1,000 residents, well above the average across our tracked cities. That's a market where renting is the norm, not the exception — multifamily is a real share of how this city houses itself.
Average asking rent runs around $1,232/unit, squarely in the middle of the markets we track — room to grow without the pricing pressure of the hotter submarkets.
Panama City sits next to Tyndall Air Force Base, which is in the middle of a multi-billion-dollar rebuild after Hurricane Michael that keeps bringing construction and military jobs to the area.
Steven Rowe and Gulf Coast Multifamily represent owners of 10+ unit apartment properties in Panama City and across Bay County, FL. If you're thinking about selling, refinancing, or just want to know what your property is worth, a confidential conversation costs nothing.