Located in the state of Florida, Panama City is a medium-sized city with a population of 36,654 inhabitants. The majority of Panama City residents report their race to be White; this is followed by Black and Asian. If you are not a fan of long commutes, you will enjoy living in Panama City. With average one way commute time of only 21 minutes, getting to and from work is a breeze compared to the national average of 26 minutes.
Without the right tools, moving to any new area can be very stressful and challenging. Living in Panama City, Florida could be a fulfilling experience for anyone who puts in the effort to do the research required. Finding the best places to live in Panama City and nearby areas is a much easier task when you can rely on information and data from the livability score, which includes crime, education, employment, housing and other important metrics.
Using data and statistics Panama City has received a livability score of 70 out of 100. This score is ranked in the 62nd percentile when compared to all other cities. If we probe a little deeper into each category within the livability score, we see that Panama City has higher than average rankings for the following: amenities (A+), cost of living (B) and weather (B+). Panama City does not score well for the following: crime (F), education (D) and employment (F). It might be a smart idea to take a closer look at each category to find out why.
Based on the proximity of local amenities like grocery stores, restaurants, coffee shops, parks, librairies, etc., Panama City has received a higher than average score for its local amenities. If you’re planning on relocating and making this area your permanent home, it’s nice to know that there is an ample amount of amenities and things to do within walking distance or a short drive. Some of the notable things to do include: St. Andrews State Park, Carillon Beach, and St. Andrew Bay Ferry Company.
Panama City real estate prices and overall affordability will play a huge role in determining if the area is the right fit for you. Of course there are probably some other items on your “wish list”, but even before they are considered, let’s take a look at the home prices and affordability in Panama City. Median real estate prices in Panama City come in at $134,700, which is 19.2% lower than the Florida average. The home price to income ratio compares the median home prices to the median household income. In Panama City, the home price to income ratio is 3.5, which is 2.9% higher than the Florida average. For most people, purchasing a new home is the biggest investment they will make in their lifetime. Taking a look at overall real estate appreciation rates in Panama City will offer some insight into determining if your home purchase will be a solid investment for years to come. In Panama City, the year-over-year appreciation rates were 11.3%, and the 5 year appreciation rates came in at 7.7%.
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