Low Income Apartments and Affordable Housing For Rent in Panama City, FL

Discover affordable housing in Panama City where there are 17+ housing opportunities based on income and household needs like accessible units for seniors or persons with disabilities. Find and apply to these low income apartments now.

Magnolia Pointe Apartments

2437 East 11th Street, Panama City, Florida 32401

Pana Villa Redevelopment

1802 Flower Avenue, Panama City, Florida 32405

Royal Arms Apartments

1420 Balboa Avenue, Panama City, Florida 32401

Edgewood Garden Apartments

3325 W 23rd St, Panama City, Florida 32405

Foxwood Apartments

1701 Hamilton Avenue, Panama City, Florida 32405


7100 Noel Rd, Panama City, Florida 32404

Macedonia Gardens

1722 W 17th St, Panama City, Florida 32405

St Andrews Towers

24 Harrison Avenue, Panama City, Florida 32401

Andrews Place II

1914 Frankford Ave, Panama City, Florida 32405

Panama Commons

1001 Sherman Ave, Panama City, Florida 32401

Siena Gardens

901 W 19th St, Panama City, Florida 32405

Scattered Sites

2051 Lisenby Ave, Panama City, Florida 32401

Champion Johnson Memorial

739 Sanders Ln, Panama City, Florida 32401

Scattered Sites

1025 Everitt Ave, Panama City, Florida 32401

261 Everitt Ave

261 Everitt Ave, Panama City, Florida 32401

Kurze II ( Hanlon Properties )

1009 N Church Ave, Panama City, Florida 32401

Kurze I ( Chp Ventures )

1004 Kurze Ave, Panama City, Florida 32401

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Panama City, Florida
$16.84 (+140%) more than Florida minimum wage and $21.59 (+298%) more than the Federal minimum wage.
Learn More About Panama City, Florida Affordable Housing ↓

What HUD offices serve Panama City, Florida?

Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.

Operates the Section 8 Housing Choice Voucher (HCV), Public Housing programs for Panama City, Florida.

Go to the Florida Public Housing and Low-Income Apartments Waiting Lists page for openings near Panama City.

How many renters live in Panama City, Florida?

The City of Panama City has 34,254 people living in 14,550 households.

There are 15,030 renters living in 6,504 renter households in this City. Renters make up 43.88 percent of the population living in Panama City.

What is the rental market like in Panama City, Florida?

There are an estimated 16,117 housing units in the Panama City area. Of these, 6,749 units are rental homes, making up 42 percent of the housing market. For every renter household in Panama City, Florida, there are 1 rental units.

What is the vacancy rate for rentals in Panama City?

The rental vacancy rate in Panama City is 3 percent. This is a lower than average vacancy rate. When rental vacancy rates are low there are fewer available units. Rents tend to be higher as more people compete for scarce housing.

How many rental units are in Panama City for each bedroom size?

Occupied Rental Units by Size in Panama City
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
126 1,494 2,853 1,725 245
Occupied Rental Units by Size in Panama City

A large number of apartments in Panama City have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.

How many renter households in Panama City are overburdened by housing costs?

Among renter households in this market, 57 percent have housing cost burden. Further, 24 percent of households are extremely rent overburdened. When renters pay too much for their housing, it leaves little money for other necessities like food, clothes, or medicine.

The federal government says that renters are cost-burdened if they pay more than a third of their monthly income for rent and utilities.

How Much Is Rent in Panama City

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,269 to $2,585. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $1,269
One BR $1,297
Two BR $1,523
Three BR $2,065
Four BR $2,585
2024 Fair Market Rents in Panama City, Florida

How many units are rented at Fair Market Rent (FMR) in Panama City?

Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s Fair Market Rent. Markets with a large share of units above FMR tend to have longer search times to find a qualified unit, while those with a large share of units below FMR tend to have more choices and shorter search times. The share below FMR can vary by size of unit, as shown in the table below.

These are the approximate number of units renting below the FMR in this market:

Unit Size Count of Units Below FMR Percentage of Total Units Below FMR
Studio 95 75 percent
One BR 1,185 79 percent
Two BR 2,006 70 percent
Rental Units Below FMR in Panama City, Florida

How many affordable rental units are in Panama City?

There are a variety of federal affordable housing programs serving households in Panama City, Florida including the following:

Federal Program Unit Count
Low Income Housing Tax Credit 852
Public Housing 262
Section 8 Project-Based Rental Assistance 662
Section 202 Supportive Housing for the Elderly 2
Tracked Units by Federal Program in Panama City, Florida

Rental units may be funded in part by multiple federal programs.

Income Based Apartments in Panama City, Florida

Panama City features 1,275 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.

Low Rent Apartments in Panama City, Florida

There are 566 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Panama City.

Housing Choice Vouchers in Panama City, Florida

On average, Section 8 Housing Choice vouchers pay Panama City landlords $700 per month towards rent. The average voucher holder contributes $300 towards rent in Panama City.

The maximum amount a voucher would pay on behalf of a low-income tenant in Panama City, Florida for a two-bedroom apartment is between $1,371 and $1,675.

Sourced from federal housing data and AffordableHousingOnline.com research.