Panama City, FL · Florida
Bay County
ZIP 32405
181,368 residents1,995 permits TTM$70,188 median HHI12 ZIP codesUpdated April 16, 2026
Investor first look
Median home value
$276,900
ACS 5-Year
Cap rate proxy
6.2%
FMR × 0.65 ÷ Home Value
Rent-to-income
24.3%
HUD FMR ÷ ACS HHI
Net migration
+1.79%
IRS SOI
Permits (TTM)
1,995
Census BPS
Climate risk
94.1
FEMA NRI (0–100)
ZIP 32405
Median home value
—
Gross yield
—
Buy Box score
0.5
Section 8 gap
—
Affordability
P/I: 4.2R/I: 27.4%
Section 8 detail
SAFMR: —Rent: —Gap: —
ZIP code breakdown12 ZIP codes
| ZIP | Median home value | Rent (FMR 2BR) | Gross yield | Buy Box score ↓ | Section 8 gap |
|---|---|---|---|---|---|
| 32401 | — | — | — | 0.9 | — |
| 32404 | — | — | — | 0.8 | — |
| 32438 | — | — | — | 0.7 | — |
| 32405 | — | — | — | 0.5 | — |
| 32444 | — | — | — | 0.4 | — |
| 32466 | — | — | — | 0.4 | — |
| 32408 | — | — | — | 0.3 | — |
| 32409 | — | — | — | 0.2 | — |
| 32407 | — | — | — | 0.1 | — |
| 32413 | — | — | — | 0.1 | — |
| 32403 | — | — | — | — | — |
| 32410 | — | — | — | — | — |
Sort by any column. Click a ZIP for detail.
Demographics
Owner-occupied
68.3%
Census ACS
Vacancy rate
28.3%
Census ACS
Bachelor's degree +
28.0%
Census ACS
Rent burdened
56.1%
Census ACS (>30% income)
Median age
41.4
Census ACS
U.S. Census Bureau — American Community Survey 5-Year Estimates
U.S. Census Bureau — Building Permits Survey
U.S. Department of Housing and Urban Development — Fair Market Rents / Small Area Fair Market Rents (SAFMR)
Internal Revenue Service — Statistics of Income Migration Data
FEMA — National Risk Index
Last updated: April 16, 2026