Panama City, FL Profile: Facts & Data

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Panama City, Florida - Basic Facts

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The City of Panama City had a population of 34,734 as of July 1, 2021.

The primary coordinate point for Panama City is located at latitude 30.1588 and longitude -85.6602 in Bay County. The formal boundaries for the City of Panama City encompass a land area of 29.32 sq. miles and a water area of 6.16 sq. miles. Bay County is in the Central time zone (GMT -6). The elevation is 26 feet.

The City of Panama City has a C1 Census Class Code which indicates an active incorporated place that does not serve as a county subdivision equivalent. It also has a Functional Status Code of "A" which identifies an active government providing primary general-purpose functions.

Florida is one of 20 states where Census County Divisions (CCDs) are used for statistical tracking of subdivisions within each county. The City of Panama City is located within Panama City CCD of Bay County.


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  1. Panama City 2021 Demographic Data
  2. Growth Rates for Panama City (Historical & 5-Year Forecast)
  3. Peer Comparisons (Rank and Percentile)
  1. Neighborhoods Demographics (Home Values, Household Income, etc.)
  2. Florida Research Tools (Easy Tools & Current Data)
  3. Florida Data Comparison Tool - 2021 Demographics
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Panama City, FL Data & Demographics (As of July 1, 2021)

POPULATION

Total Population 34,734 (100%)
Population in Households 33,239 (95.7%)
Population in Families 24,757 (71.3%)
Population in Group Quarters1 1,495 ( 4.3%)
Population Density 992
Diversity Index2 53
 
 

INCOME

Median Household Income $47,633
Average Household Income $64,346
% of Income for Mortgage4 18%
Per Capita Income $27,479
Wealth Index5 65
 

HOUSING

Total HU (Housing Units) 16,568 (100%)
Owner Occupied HU 8,592 (51.9%)
Renter Occupied HU 5,235 (31.6%)
Vacant Housing Units 2,741 (16.5%)
Median Home Value $199,035
Average Home Value $269,288
Housing Affordability Index3 145
 

HOUSEHOLDS

Total Households 13,827
Average Household Size 2.4
Family Households 7,966
Average Family Size 3
NOTES
  1. Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
  2. The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
  3. The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
  4. The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
  5. The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.

GROWTH RATE / YEAR

2010-2021 2021-2026
Population -0.52% 0.1%
Households -0.67% -0.01%
Families -0.78% -0.04%
Median Household Income   1.82%
Per Capita Income   2.21%
Owner Occupied HU   0.38%

Panama City, FL - Peer Comparisons by Rank and Percentile

The table below compares Panama City to the other 919 incorporated cities, towns and CDPs in Florida by rank and percentile using July 1, 2021 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

Variable Description Rank Percentile
Total Population # 120 87th
Population Density # 595 35th
Median Household Income # 631 32nd
Housing Affordability Index # 508 55th
Per Capita Income # 516 44th
Diversity Index # 416 55th

Additional comparisons and rankings can be made with a VERY EASY TO USE Florida Census Data Comparison Tool.

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