RANK #62 / 1001 NAT · #1 / 41 FL · POP 186,393
1YR FORECAST: -1.8%
5YR OUTLOOK: +38%
Panama City Beach, a prominent town in Bay County, Florida, is known for its 27 miles of white sand beaches and clear emerald waters. The county is located in the Florida Panhandle, approximately 100 miles southwest of Tallahassee. Commuting within Bay County is facilitated by major highways like U.S. 98 and U.S. 231, and a public bus system called Bayway serves Panama City, Panama City Beach, Lynn Haven, and other areas. The community offers extensive outdoor recreation, including St. Andrews State Park, which provides opportunities for snorkeling, kayaking, and fishing. Conservation Park features over 24 miles of trails and boardwalks for hiking and biking. The area also boasts natural springs like those along Econfina Creek, popular for paddling and swimming.
Life in Bay County offers a blend of coastal living and community amenities. The Bay District Schools system serves over 27,000 students across 49 schools, with public schools generally performing above average. The economy is significantly influenced by its military presence, including Tyndall Air Force Base and Naval Support Activity Panama City, which contribute to a strong defense and aerospace sector. Recent economic developments include investments in manufacturing and aviation, with new businesses and infrastructure projects underway. The area also sees ongoing expansion in residential and commercial sectors, including a 55+ community and mixed-use waterfront developments.
Bay County is one of 76 U.S. counties in this market profile — stronger than typical on the BoomTown Index. Within this cohort, its recent home-price change of -1.9% runs above the profile's typical -3.7%.
See all 76 Sun Belt Post-Surge Correction counties →Overvalued relative to economy
Prices declining
Moderate climate & terrain
Above national median (15x)
Housing looks overvalued at 12.5x — home prices are high relative to local economic output. The typical U.S. county is 4–6x.
Estimated local headcount ranges. Larger employers shown as floor + "+"; smaller employers show exact counts where reported.
Bars show trailing 12-month growth. The dashed Forecast bars are the model's next-12-month projection; the whisker marks the ±1% range (cooling–accelerating).
Source: Redfin · Census BPS — Browse sales on Redfin →
Source: CDC/NCHS vital statistics via County Health Rankings (2020–2022 avg). Rates per 100,000 population. Grade based on homicide rate relative to national average (~6.3). Learn more →
Source: EPA Air Quality System (2021–2023). Grade based on 3-year average median AQI. Learn about AQI →
| PROJECT | AMOUNT | STATUS |
|---|---|---|
|
Mule Creek Renewable Energy Center
Duke Energy Florida
|
$75M | Operating |
|
Sandy Creek Solar Power Plant
Duke Energy Florida
|
$75M | Operating |
|
Bay Ranch Solar Power Plant
Duke Energy Florida
|
$75M | Operating |
|
FPL Saw Palmetto Solar Energy Center
Florida Power & Light Company (FPL)
|
$74M | Operating |
|
FedEx Ground Regional Distribution Facility
FedEx
|
$55M | Operating |
|
Voltari Electric Shipyard (former Queen Craft Shipyard)
Voltari Electric
|
$50M | Proposed |
Source: public records, news, corporate announcements. Amounts are estimates where noted.
Bars show percentile rank among all 1001 counties.
Bay County ranks #62 out of 1001 U.S. counties on the Boom Town Index with a score of 94/100, putting it in the top tier nationally. Job growth of +0.7% and a median household income of $73,533 point to a county with active economic momentum.
Bay County leans toward the expensive side. A median home value of $310,500 against an income-to-home-value ratio of 0.24 means housing eats a bigger share of local earnings than the national norm. Renters face $1,484/month on average.
Bay County's population is growing — up +2.8% YoY — while the job market is roughly flat (employment change of +0.7%). Home values shifted -1.9% over the past year. In-migration is outpacing local hiring, which often points to remote workers or retirees driving the headcount.
There's a moderate stream of newcomers. About 3.54% of residents moved from another state, which is above average and suggests Bay County has appeal as a relocation destination — though it's not among the highest-inflow counties nationally.