Rent vs Buy in Panama City, FL
Monthly cost of renting vs owning a median-priced home · 30-yr fixed, 20% down
Buying looks favorable in Panama City, FL
Price-to-rent ratio is 14.8 (under 15 favors buying, over 21 favors renting). Renting costs $1,609/mo; owning runs about $2,139/mo — $530/mo more to own.
| Monthly cost to own | Amount |
|---|---|
| Mortgage (P&I, 6.95% rate) | $1,518 |
| Property tax | $263 |
| Home insurance | $119 |
| Maintenance | $239 |
| Total to own | $2,139 |
| Average 2BR rent | $1,609 |
Based on a median home value of $286,664 with a $57,333 down payment. Owning also builds equity over time, which a monthly comparison doesn't capture. Estimates use national averages for taxes, insurance and maintenance — your actual costs will vary.