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Cheap Apartments for Rent in Panama City, FL

1,084 Rentals
.
  18. Building Photo - Cottages by the Bay
    STUDIO
    $939+
    1 BED
    $1,050+
    2 BEDS
    $1,388+

    Cottages by the Bay

    6200 Cypress Point Dr, Panama City Beach, FL 32408
  21. Building Photo - The Arbors @ 15th
    1 BED
    $989+
    2 BEDS
    $1,193+
    3 BEDS
    $1,387+

    The Arbors @ 15th

    265 W 15th St, Panama City, FL 32401
  35. Building Photo - 6950 US-98
    2 BEDS, 2 BATHS
    $1,079

    6950 US-98

    6950 US-98, Panama City Beach, FL 32407
  38. Building Photo - 832 West St
    2 BEDS, 1.5 BATHS
    $1,095

    832 West St

    832 West St, Panama City, FL 32404
Showing 42 of 440 results, Page 1 of 11

Panama City at a Glance

Average Rent

$1,230
(All bedrooms and property types)
Learn more about
Average Rent in Panama City
4

School Rating

out of 10 Rating
Learn more about
Schools in Panama City
12

Some Transit

out of 100 TransitScore® Rating
Learn more about
Transportation in Panama City
46

Somewhat Bikeable

out of 100 BikeScore® Rating
Learn more about
Transportation in Panama City

Panama City, FL Apartments for Rent

Panama City offers coastal living and practical amenities along Florida's Emerald Coast. Located on St. Andrews Bay, this Bay County seat stands as the largest city between Tallahassee and Pensacola, providing residents with waterfront views and a mild subtropical climate. The cost of living falls below the state average, with one-bedroom apartments typically renting for around $1,215—compared to Florida's state average of $1,691.

The city encompasses several distinct areas, including Downtown Panama City, Historic St. Andrews, and Millville Historic District. Major employers in the area include Tyndall Air Force Base, which is undergoing a $5.3 billion reconstruction, and Eastern Shipbuilding Group. Educational institutions like Gulf Coast State College and Florida State University's Panama City Campus serve the local community. Residents can access beaches across the Hathaway Bridge, while downtown Panama City features local shops and restaurants.

Renting in Panama City

Average Rental Rates and Apartment Sizes

Top Budget-Friendly Neighborhoods in Panama City

(For 1 bedroom apartments)
  • Neighborhoods Average Sq Ft Average Rent
  • SweetBay 662 Sq Ft $1,356/mo
  • Pretty Bayou 675 Sq Ft $1,366/mo

Getting Around Panama City

Transportation

40

Car-Dependent

out of 100 WalkScore® Rating
You might be able to get out and walk when living in this area. Some errands can be accomplished on foot, but for others you need a car.
46

Somewhat Bikeable

out of 100 BikeScore® Rating
You might be able to find places to ride your bike in this area, but you'll most likely want your car for most errands.
12

Minimal Transit

out of 100 TransitScore® Rating
You'll likely want a car when living in this area since it has few transit options.
Scores provided by Walk Scoreⓘ

Education

GreatSchools Rating
Bay High School

Public High School

Public
Grades 9-12
1,255 Students
GreatSchools Rating
Merritt Brown Middle School

Public Middle School

Public
Grades 6-8
701 Students
GreatSchools Rating
Jinks Middle School

Public Middle School

Public
Grades 6-8
570 Students
GreatSchools Rating
Hutchison Beach Elementary School

Public Elementary School

Public
Grades K-5
621 Students

Data provided by GreatSchools.org 2025 © 2025. All rights reserved.

Apartments for Rent Near Panama City

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Panama City Apartments for Rent in Your Budget

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