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Cheap Apartments for Rent in Panama City, FL from $400 (22 Rentals)
Search the lowest-cost Apartments available for rent right now in Panama City.
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from $8752 Bedroom Apartment Available Now
524 Elm Avenue, Unit Apt C
524 Elm AvenuePanama City, FL 32401
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from $905Studio to 2 Bedroom Apartments Available Now
Northgate Terrace I
425 E 19th StPanama City, FL 32405
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from $929Studio to 2 Bedroom Apartments Available Now
Cottages by the Bay
6200 Cypress Point DrPanama City Beach, FL 32408
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Showing Results 1-22, Page 1 of 1
Panama City, FL Local Guide
Bunkers Cove by Flickr User: aggie85 is licensed under CC BY 2.0
How much does it cost to rent an apartment in Panama City?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Cheap Panama City Studio Apartments | $934 | $905 | $979 |
| Cheap Panama City 1 Bedroom Apartments | $1,375 | $499 | $1,841 |
| Cheap Panama City 2 Bedroom Apartments | $1,610 | $607 | $2,400 |
| Cheap Panama City 3 Bedroom Apartments | $1,949 | $1,269 | $3,400 |
| Cheap Panama City 4 Bedroom Apartments | $2,374 | $1,735 | $2,500 |
Browse Top Apartments in Panama City
See all Apartments in Panama CityExplore Panama City
Panama City, FL Local Guide
Written By:
Justin HabersaatEditing Staff
- Panama City Neighborhoods
- Nearby Cities
- ZIP codes
- Local Counties
Cheapest Neighborhoods for Apartments in Panama City, FL
Pricing Updated: 02/20/2025Current apartment rentals in the Panama City, FL area range in price from to with an overall median price of . Here is today’s list neighborhoods with the lowest median pricing for Panama City Apartments for rent:
| Neighborhood | Median Price | Min Price | Available Units |
|---|---|---|---|
| St Andrews | $1,600 | $895 | 21 |
| Downtown Panama City | $1,785 | $499 | 1320 |
| Pretty Bayou | $1,800 | $1,085 | 2170 |
| SweetBay | $1,940 | $499 | 2308 |
Cheapest Available Panama City Apartments for Rent
The cheapest available apartment rental in Panama City, FL is a Studio unit found at Northgate Terrace I in the Downtown Panama City neighborhood priced from $905. Springfield Crossings has the second lowest priced unit, which is a 2 Beds apartment currently listed from $912. Here is today’s list of the most affordable Panama City apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Northgate Terrace I | The Kenley II | Studio,1BA | $905 |
| Springfield Crossings | 2 Beds, 2 baths | 2BR,2BA | $912 |
| Cottages by the Bay | Studio | Studio,1BA | $929 |
| Aztec Villa Apartments | One Bedroom | 1BR,1BA | $1,085 |
| Bayside Villas | B1 | 2BR,1BA | $1,099 |
Best Value Apartments for Rent in Panama City, FL
As of February 20, 2025 the best value apartment in the Panama City area is the $1.34 price per square foot Aria Model at Sunset Village in the starting from $2,200. The second greatest value Panama City apartment is the Palm B Model at Parkview at Lynn Haven starting at $2,000 with a $1.34 price per square foot in the SweetBay neighborhood. Here is today’s list of the best values for Panama City apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Sunset Village | Aria | 3BR,2BA | $1.34 |
| Parkview at Lynn Haven | Palm B | 3BR,2.5BA | $1.34 |
| Ava Kay Townhomes | TOWNHOME 1 | 3BR,2BA | $1.31 |
| The Arbors @ 15th | Oakland | 3BR,2BA | $1.08 |
| Eagles Landing Luxury Apartment Homes | The Song Sparrow-Contemporary | 2BR,2BA | $1.37 |
| MAA Emerald Coast | The Santa Rosa | 2BR,2BA | $1.47 |
| Waterstone at Jenks | The Sapphire | 1BR,1BA | $1.42 |
| Springfield Crossings | 2 Beds, 2 baths | 2BR,2BA | $1.01 |
| Aztec Villa Apartments | One Bedroom | 1BR,1BA | $1.37 |
| 524 Elm Avenue, Unit Apt C | 524 Elm Avenue | 2BR,1BA | $1.30 |
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Panama City Overview
Located snugly between the hubs of Tallahassee and Pensacola, apartments in Panama City are a great way to get to know Florida. Originally going by the clunky name Floriopolis, Panama City has since blossomed into a world-class destination worthy of its new moniker.
Why live in Panama City, FL?
From the gorgeous beaches to the exciting nightlife, Panama City is an idyllic slice of the Sunshine State. With a reasonable cost of living and an on-the-move economic growth rate, this Florida hot spot has been increasing in popularity in recent years with good measure. With a large number of industries including ship building and military calling the area home, Panama City apartments make an easy commute for those in the market for a new career and budding families.
Best Local Schools in Panama City, FL
School data provided by Great Schools
Remember the 3 Rules of Real Estate:Location, Location, Location!
Explore Panama City, FL Rentals by Map
See the most popular apartments and homes in Panama City, FL
Panama City, FL Apartments MapPanama City, FL Rental Homes MapGetting Around Panama City, FL
Walk Score®
40 / 100
Car-Dependent
Most errands require a car
Bike Score®
46 / 100
Somewhat Bikeable
Minimal bike infrastructure
Transit Score®
12 / 100
Minimal Transit
It may be possible to get on a bus
What Are Walk Score®, Transit Score®, and Bike Score® Ratings?
- Walk Score® measures the walkability of any address.
- Transit Score® measures access to public transit.
- Bike Score® measures the bikeability of any address.
Frequently Asked Questions about Cheap Panama City Apartments
What is the Cheapest Studio apartment in Panama City?
Currently the most affordable Cheap Studio Apartment in Panama City is at Northgate Terrace I listed at $905.
How much is rent for a Cheap One Bedroom Panama City Apartment?
The lowest price for a Cheap One Bedroom Panama City Apartment is $1,015 at Northgate Terrace I.
What is the lowest price for a Cheap Two Bedroom Panama City Apartment for rent?
Today's best deal for a Cheap Two Bedroom Apartment in Panama City is starting from $912 at Springfield Crossings.
What is the most affordable Panama City Three Bedroom Apartment?
The best deal on a cheap Panama City Three Bedroom Apartment rental is at Springfield Crossings and starts from $1,060.
Expert Rental Resources
Helpful Apartment Articles, How-To's and Tips
The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.
Understanding Amenity Fees: Know Where You Might Be Able to Save Money
Written by: Amber Kanuckel
With the rising costs of housing, a lot of renters are asking this question: Is it possible to opt out of various amenities that your rental property offers so that you can avoid paying the fees.
What to Know About Fees and Fines When Renting
Written by: Trey Huguley
When it comes to renting a new apartment or home there can be a number of fees that you will want to keep in mind going into the process.
How Your Move-In Inspection Can Protect Your Security Deposit
Written by: Christine Leonard, Esq.
If you’re anything like most people, housing costs represent a huge chunk of your monthly budget. On top of that, moving can be both a stressful and expensive affair.
Signing Your Apartment Lease: The Basics
Written by: Trey Huguley
When you're about to sign a lease for the first time, it can feel a bit overwhelming. You don’t want to miss any important details hidden in the fine print.