Apartments under $1,200 for Rent in Panama City, FL
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1 BED$947+2 BEDS$1,137+
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STUDIO$775+1 BED$799+2 BEDS$1,104+3 BEDS$1,139+
Pelican Bay Apartment Homes
924 Florida Ave, Panama City, FL 32401 -
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2 BEDS$1,025+3 BEDS$1,150+
Cedar Trace Apartments
3719 E 8th Ct, Panama City, FL 32401 -
1 BED$1,195
Spyglass Apartments
4938 Spy Glass Dr, Panama City, FL 32408 -
STUDIO$939+1 BED$1,050+
Cottages by the Bay
6200 Cypress Point Dr, Panama City Beach, FL 32408 -
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4 BEDS, 2 BATHS$1,100
615 Bay Ave Unit B
615 Bay Ave, Panama City, FL 32401 -
1 BED, 1 BATH$895
1400 Gulf Ave Unit #3
1400 Gulf Ave, Panama City, FL 32401 -
1 BED, 1 BATH$1,100
1235 Jenks Ave
1235 Jenks Ave, Panama City, FL 32401 -
STUDIO, 1 BATH$925
1605 Flower Ave
1605 Flower Ave, Panama City, FL 32405 -
2 BEDS, 2 BATHS$1,075
3914 E 11th St Unit 103
3914 E 11th St, Panama City, FL 32404 -
2 BEDS, 1.5 BATHS$975
5707 Lake Dr Unit 2
5707 Lake Dr, Panama City, FL 32404 -
2 BEDS, 1.5 BATHS$1,100
6913 Cherry St
6913 Cherry St, Panama City, FL 32404 -
2 BEDS, 2 BATHS$1,100
168 N Comet Ave Unit E-2
168 N Comet Ave, Panama City, FL 32404 -
1 BED, 1 BATH$925
600 N Hwy 22 A
600 N Hwy 22 A, Panama City, FL 32404 -
2 BEDS, 1 BATH$1,050
4512 Carla Ln
4512 Carla Ln, Panama City, FL 32405 -
2 BEDS, 1.5 BATHS$1,095
832 West St
832 West St, Panama City, FL 32404 -
1 BED, 1 BATH$900
7714 FL-22 Unit B
7714 FL-22, Panama City, FL 32404 -
2 BEDS, 1 BATH$1,095
237 Helen Ave
237 Helen Ave, Panama City, FL 32401 -
2 BEDS, 2 BATHS$1,200
7320 Chipewa St
7320 Chipewa St, Panama City, FL 32404 -
2 BEDS, 2 BATHS$1,150
400 E 19th St Unit C4
400 E 19th St, Panama City, FL 32405 -
2 BEDS, 1 BATH$1,050
6101 Harvey St
6101 Harvey St, Panama City, FL 32404 -
2 BEDS, 2 BATHS$1,075
3914 E 11th St Unit 301
3914 E 11th St, Panama City, FL 32404 -
2 BEDS, 1 BATH$1,095
1401 Gulf Ave Unit 15
1401 Gulf Ave, Panama City, FL 32401
Panama City at a Glance
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
- Apartment Type Average Sq Ft Average Rent
- Studio 353 Sq Ft $846 / mo
- 1 Bedroom 708 Sq Ft $1,230 / mo
- 2 Bedrooms 1,027 Sq Ft $1,484 / mo
- 3 Bedrooms 1,165 Sq Ft $1,904 / mo
- 4 Bedrooms 1,691 Sq Ft $2,157 / mo
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
Education
Data provided by GreatSchools.org 2025 © 2025. All rights reserved.
Apartments for Rent Near Panama City
Panama City Apartments for Rent in Your Budget
- Apartments with Move-In Specials in Panama City, FL
- Panama City Apartments Under $800
- Panama City Apartments Under $900
- Panama City Apartments Under $1,000
- Panama City Apartments Under $1,100
- Panama City Apartments Under $1,200
- Panama City Apartments Under $1,300
- Panama City Apartments Under $1,400
- Panama City Apartments Under $1,500
- Panama City Apartments Under $1,600
- Panama City Apartments Under $1,700
- Panama City Apartments Under $1,800
- Panama City Apartments Under $1,900
- Panama City Apartments Under $2,000
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Note: Based on community-supplied data and independent market research. Subject to change without notice.