There are currently 35,195 real estate properties in Panama City, FL, with a median automated valuation model (AVM) price of $273,500.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Panama City, FL, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Panama City, FL, is $329,880.00, with the most expensive house in Panama City, FL, topping out at $17,027,400.00 and the cheapest home in Panama City, FL, clocking in at $12,800.00. In other words, there’s something for every potential homebuyer or savvy investor in Panama City, FL!
With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Panama City, FL, is on a rollercoaster ride. The average rent price in Panama City, FL, is $1,291.00. Indeed, when looking to rent in Panama City, FL, you can expect to pay as little as $550.00 or as much as $5,100.00, with the average rent median estimated to be $1,230.00. The good news is that finding an affordable and desirable property to rent in Panama City, FL -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.
Find the best foreclosure homes listings for sale — bank-owned, government (Fannie Mae, Freddie Mac, HUD, etc.) and others — in and near the Panama City, FL area at Foreclosure.com. Get information on foreclosure homes for rent, how to buy foreclosures in Panama City, FL and much more. Save thousands at closing with home foreclosure listings in Panama City, FL — up to 75% off market value!
Panama City is located in Bay, Florida, with an estimated municipal population of 34,667 residents. All of the best foreclosed homes for sale in Panama City are located in the following zip code areas on Foreclosure.com: 32401 32405 32404 32402 32412. The estimated population per square kilometer (.62 miles) in Panama City is 382.
So, about how much do homes cost in Panama City? The most recent median value of resident-owned homes in Panama City is 151,560. An estimated 50.5 percent of households in Panama City own their homes, with an average family size of 3.16. The median household income in Panama City is 43,953, with14.6 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Panama City, the median commute time of resident workers (in minutes) is 20.3. And last, but certainly not least, are you looking for homes to rent in Panama City? If so, the average rent price paid by renters in Panama City is 945, according to recent statistics.
Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Panama City, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.
The median age of residents in Panama City is 39, split between 47 percent male versus 53 female. The percentage of residents who report being married in Panama City is 36.2, with an average family size of 3.16.
The percentage of residents who report their race in Panama City is as follows:
|Black / African American||20.8%|
|American Indian / Alaskan Native||0.3%|
|Native Hawaiian / Other Pacifc Islander||0.2%|
Looking for family-friendly neighborhoods in and/or near Panama City? Or maybe you are searching for 55+ active adult communities in and/or near Panama City?
The percentage of residents who report their age in Panama City is as follows:
It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Panama City with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Panama City.
How do you know that living in -- or moving to -- Panama City is right where you need to be? Perhaps you grew up in Panama City or already live nearby; therefore, the decision to buy a home in Panama City is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Panama City for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.
Here are some questions to ask yourself when shopping for foreclosed homes for sale in Panama City:
In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Panama City.
Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Panama City can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Panama City, meanwhile, can field multiple offers from more qualified buyers.
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