Panama City
RANK #717 / 996 NAT · #12 / 41 FL · POP 181,055
1YR FORECAST: -0.3%
5YR OUTLOOK: +18%
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.
Below national median (4.7x)
Below national median
Prices declining
Moderate climate & terrain
Below national median (13x)
Housing is fairly valued at 4.3x 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.
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 996 counties.
At 27/100, Bay County faces headwinds that place it in the lower third of the 996 counties we track. Median income of $65,999 combined with job growth of +2.7% suggests the local economy is struggling to keep pace with national trends.
Housing in Bay County is roughly in line with national affordability norms. The median home costs $246,800 and the income-to-home-value ratio sits at 0.27, with rents averaging $1,311/month. Not a bargain, but not a stretch for most local earners either.
Employers in Bay County are hiring — job growth of +2.7% — but the population is close to flat (-0.2% YoY). Home values moved -3.1% over the past year. Labor demand is outpacing local population growth, which tends to tighten wages and housing.
There's a moderate stream of newcomers. About 3.23% 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.