Affordable Housing In Panama City
Bay County, Florida

17 Low Income Apartment Communities In Panama City

Magnolia Pointe Apartments

2437 East 11th Street
Panama City, Florida
$563-813
2-4 BR

St Andrews Towers

24 Harrison Avenue
Panama City, Florida
Income Based
1 BR
Subsidized
62+

Royal Arms Apartments

1420 Balboa Avenue
Panama City, Florida
Call For Rent
1-3 BR
Subsidized

Pana Villa Redevelopment

1802 Flower Avenue
Panama City, Florida
Call For Rent
1-4 BR
Subsidized

Foxwood Apartments

1701 Hamilton Avenue
Panama City, Florida
Subsidized

Macedonia Gardens

1722 W 17th St
Panama City, Florida
Subsidized

Edgewood Garden Apartments

3325 W 23rd St
Panama City, Florida
Subsidized

Scattered Sites

2051 Lisenby Ave
Panama City, Florida

261 Everitt Ave

261 Everitt Ave
Panama City, Florida

Siena Gardens

901 W 19th St
Panama City, Florida

Section 8 Vouchers, Apartments, and Waiting Lists in 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.

Households who qualify for these programs may also qualify for Project-Based Section 8, which contributes rental assistance payments directly to private landlords on behalf of low-income tenants. Eligibility for the project-based program is similar to the voucher programs, but waiting list and application policies will vary depending on the landlord.

Public Housing Agencies Serving Panama City, Florida

Housing Authority Programs
Panama City Housing Authority Section 8 Housing Choice Voucher (HCV); Public Housing

Guide To Affordable Housing in Panama City, Florida

There are 17 low income housing apartment communities offering 1,841 affordable apartments for rent in Panama City, Florida.

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 $1,053 and $1,287.

2022 Panama City, Florida Fair Market Rents and Housing Choice Voucher Payment Standards

Fair Market Rents can be used to better understand the average housing costs of an area. Fair Market Rents are used by HUD to establish payment and rent standards for federal rental assistance programs like the Section 8 Housing Choice Voucher Program.

Studio One BR Two BR Three BR Four BR
Panama City, Florida Fair Market Rent $903 $1,010 $1,170 $1,613 $1,983
Panama City, Florida Payment Standard Range $813 to $993 $909 to $1,111 $1,053 to $1,287 $1,452 to $1,774 $1,785 to $2,181

Sourced from federal housing data and AffordableHousingOnline.com research.

Panama City, FL Affordable Housing Snapshot

Total Affordable Apartment Properties 17
Total Low Income Apartments 1,841
Total Housing Units with Rental Assistance 1,275
Percentage of Housing Units Occupied By Renters 51.78%
Average Renter Household Size 2.39
Average Household Size 2.42
Median Household Income $37,190 ±$2,229
Median Rent $842 ±$30
Percentage Of Renters Overburdened 54.16% ± 5.13pp
Total Population 36,917

Population and Household Demographics

Panama City is a city in Bay County, Florida with a population of 36,917. There are 14,945 households in the city with an average household size of 2.42 persons. 51.78% of households in Panama City are renters.

Income and Rent Overburden in Panama City

The median gross income for households in Panama City is $37,190 a year, or $3,099 a month. The median rent for the city is $842 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Panama City, a household making less than $2,807 a month would be considered overburdened when renting an apartment at or above the median rent. 54.16% of households who rent are overburdened in Panama City.

Area Median Income In Panama City

Affordable housing program eligibility is always determined by one's income. Each household's income is compared to the incomes of all other households in the area. This is accomplished through a statistic established by the government called the Area Median Income, most often referred to as AMI. The AMI is calculated and published each year by HUD.

HUD often uses an area larger than a city to determine the AMI because HUD anticipates those searching for housing will look beyond individual cities during their housing search. For Panama City, the AMI is calculated from all households within Bay County.

In Panama City, HUD calculates the Area Median Income for a family of four as $67,200

Most affordable housing programs determine eligibility based on the percent of AMI a given household's income is. Among the programs that determine eligibility based on the AMI are Section 8, HOME, LIHTC, Section 515, 202 and 811.

Rental Assistance in Panama City

Rental assistance is a type of housing subsidy that pays for a portion of a renter’s monthly housing costs, including rent and tenant paid utilities. This housing assistance can come in the form of Section 8 Housing Choice Vouchers, project-based Section 8 contracts, public housing, USDA Rental Assistance (in Section 515 properties) as well as HUD Section 202 and 811 properties for elderly and disabled households.

Income Qualifications for HUD Rental Assistance in Panama City

1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% AMI Income Limits
Renters earning up to 30% of the Panama City AMI may qualify for rental assistance programs that target Extremely Low Income households.
$14,150 $17,420 $21,960 $26,500 $31,040 $35,580 $40,120 $44,400
50% AMI Income Limits
Renters earning up to 50% of the Panama City AMI may qualify for rental assistance programs that target Very Low Income households.
$23,550 $26,900 $30,250 $33,600 $36,300 $39,000 $41,700 $44,400
80% AMI Income Limits
Renters earning up to 80% of the Panama City AMI may qualify for rental assistance programs that target Low Income households.
$37,650 $43,000 $48,400 $53,750 $58,050 $62,350 $66,650 $70,950