Panama City, Florida House Prices: How Much Can You Buy?

Panama City Home PricesI live in the Panama City area on the Gulf Coast of Florida and our home prices aren’t dirt cheap, but they aren’t outrageous, either.

After seeing Holly’s post over on Club Thrifty about how far her housing dollar could go in Indiana, I thought I’d do the same for where I live in Florida.

We’re not near any major cities where I live. Atlanta is 5 to 6 hours north and Pensacola is 2 hours to our west.

That said, we’re only a few minutes to the gorgeous beaches of Panama City Beach.

We really enjoy living here. If you’d like to join us, here are a few homes you could buy today!

Panama City Housing At $149,000

Panama City House 149000 dollarsThis home isn’t a gem, but it’ll get the job done. It is a 3 bedroom 2 bathroom brick home with 1,354 square feet.

It was built in 1981, has a one car garage and a screened in in-ground pool in the back. It appears there are laminate floors throughout the main living areas and carpet in the bedrooms.

The bathrooms and kitchen could use a bit of updating, but the house looks fully functional the way it is now. Heck, the appliances even look pretty new and they’re stainless steel to boot!

Panama City Beach Housing At $249,900

Panama City Beach House 250000 dollarsWant to live less than a mile from the beach while still living in a nice home? This house fits the bill!

It was built in 2002 and is just shy of 2,000 square feet. It’s in a great neighborhood with decent schools. It has 3 bedrooms, 2 bathrooms and a 2 car garage. There is a mixture of carpet and tile throughout the home.

Panama City Beach House 250000 dollars kitchenThe kitchen and bathrooms are nice, but they definitely don’t have the high end touches. There is a small quarterly HOA fee, but you get a community pool that you can use and you don’t have to take care of it yourself!

There are also sidewalks throughout the neighborhood if you like to take your dog for a walk or you want your kids to ride their bikes without getting hit by a car.


Panama City On The Water – $397,500

Panama City House 400000 dollarsIf you’d like to live on the water in Panama City, you can find a decent home for around $400,000.

This home was built in 1997 and comes in right at 2,200 square feet. The home is right off of a canal that leads to the Bay which makes for some amazing sunsets.

Panama City House 400000 dollars waterfrontThis home is in pretty decent shape but could use some cosmetic updates. Some of the rooms will need to be painted, but the bones are great.

The home has a two car garage, a pool and amazing waterfront views! Of course, you’re not anywhere near the beach. That’s still a good 20 to 30 minutes drive from here.


Panama City Beach On The Beach – $399,000

Panama City Beach Condo 400000 dollars 2Have $400,000 to spend and want to live right on the beaches on the Gulf of Mexico? You’re in luck because you can do that pretty easily.

This beach front condo comes in right at $400,000 but it comes with hefty HOA fees that are several hundred a month. So what do you get for $400,000 here?

This end unit condo on the 17th floor has 4 bedrooms, 3 bathrooms and a balcony with amazing views of the beach and the gulf.

Panama City Beach Condo 400000 dollarsThe condo comes furnished, so you’ll have to sell all of the furnishings or get rid of your current furnishings. The bedrooms are a bit small, but you’re living on the beach so you can’t complain too much.

This condo was built in 2008, so it’s relatively new, but it isn’t one of the higher end condo buildings on the beach. Don’t get me wrong, it’s nice, but it doesn’t have the resort feel.

The building does have a couple of pools, a gulf front fitness room, a sauna and an outdoor Jacuzzi tub.

Panama City Beach Landlocked For $725,000

panama city beach 750000 dollars 2I wasn’t planning on picking a $725,000 home from  the beach side of town, but there wasn’t anything worth showing in Panama City in this price range.

This home is is 3,081 square feet but only has 3 bedrooms and two and a half baths. However, the finishes are absolutely amazing.

The whole entire driveway is made of stone pavers and leads to a garage in the rear of the home. The entire outside living space is stunning and includes a pool in the back.

panama city beach 750000 dollarsThere are balconies on the outside of the home on the second floor and fancy looking columns support the roof and balcony.

The inside of the home has amazing detail throughout. The kitchen has high end finishes and the rest of the house matches it perfectly.

The huge downside to this home is it isn’t a water front property. If I was going to spend $725,000 in this area, I’d want to see a body of water other than a pool from my home.

Panama City Beach Gulf Front Condo – $749,000

panama city beach condo 750000 dollars 2If I was spending $749,000, I’d definitely want to be beachfront.

Unfortunately, the nicer living options in the price range are mostly condos. There are a few townhouses and single family homes on the beach in this price range, but they aren’t as nice as the condo I’m about to show you.

This $750,000 beach front condo is a penthouse on the 17th floor and was built in 2007. It is a little bit over 1,900 square feet and has 3 bedrooms and 3 bathrooms. The condo has high end furnishings and has a huge balcony to enjoy your beach front view.

PAnama City Beach Condo 750000It comes with two private parking spaces and you’ll have a secret code on the elevator to reach your penthouse condo unit.

The condo amenities include two pools, a spa and a fitness center. While I’d personally hope for a bit more than 1,900 square feet for $750,000 it does have a killer view!

There are plenty of other housing options both in town in Panama City and down at the beach in Panama City Beach. These were the highlights of what I could find in a quick search on our MLS, but I’m sure you could find plenty of other gems that would fit your needs better.

Overall, the housing prices down here aren’t bad. We personally got a two bedroom 1.5 bathroom townhouse a few blocks from the beach for less than $100,000 about 3 years ago that we now rent out.

We bought our house in town for less than $200,000 about two years ago and it’s a 3 bedroom 2 bathroom home in a nice neighborhood with a 2 car garage. It all depends on what you want and where you want to live, like anywhere.

That said, I think Panama City offers some great deals in housing if you don’t mind living in a smaller town!

How much does housing cost where you live? Is it cheaper or more expensive than here in Panama City? I’d love to hear about your local market!

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About Lance Cothern

Lance Cothern, a Certified Public Accountant (CPA) licensed in the Commonwealth of Virginia, is the founder of Money Manifesto. You can read more about him here or connect with him on Facebook, Twitter, Google+ or Pinterest.


  1. So much of what’s available these days on the water is in the form of condos. I think if I were wealthy enough to be able to afford this, I’d probably want a home somewhere off the water and then one of the nice condos to have the water view.

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