Panama City, FL
Discover how far your salary goes in Panama City. Compare taxes, rent, and living costs.
32,939
None! 🎉
$1,530
/month
+9%
above avg
How far would your salary go in Panama City?
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Rent Prices in Panama City
Studio
$1,224
/month
$14,688/year
1 Bedroom
$1,530
/month
$18,360/year
2 Bedroom
$2,065
/month
$24,780/year
3 Bedroom
$2,677
/month
$32,124/year
Taxes in Florida
State Income Tax
Florida
No State Income Tax!
Florida doesn't tax wages—keep more of every paycheck.
Federal Income Tax
Same nationwide
Federal taxes use progressive brackets. The more you earn, the higher your marginal rate.
Learn how tax brackets workMore Affordable Alternatives
Cities with lower cost of living where your money goes further:
Frequently Asked Questions
What is the cost of living in Panama City, FL?▼
Panama City has a cost of living index of 131, which is 31% above the national average. A 1-bedroom apartment costs around $1,530/month.
What is the state income tax in Florida?▼
Florida has no state income tax! This can save you thousands of dollars per year compared to states with income tax.
How much is rent in Panama City?▼
The median rent for a 1-bedroom apartment in Panama City is $1,530/month. For a 2-bedroom, expect to pay around $2,065/month. This is 9% above the national average.
Is Panama City a good place to live?▼
Panama City is a town with a population of 32,939. The cost of living is above average, making it more expensive than average for the US. A major advantage is zero state income tax.
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