Cheap Apartments for Rent in the Downtown Panama City Neighborhood of Panama City, FL from $900 (15 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Downtown Panama City area of Panama City.

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807 CHERRY St
1 Bedroom Apartments

807 CHERRY St

807 CHERRY StPanama City, FL 32401
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My Place Apartments
1 to 2 Bedroom Apartments

My Place Apartments

801 W 13th StPanama City, FL 32401
  • Utilities Included
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Foxwood
2 to 4 Bedroom Apartments

Foxwood

1701 Hamilton AvePanama City, FL 32405
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814 Oak Ave
1 to 3 Bedroom Apartments

814 Oak Ave

814 Oak AvePanama City, FL 32401
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The Arbors @ 15th
1 to 3 Bedroom Apartments

The Arbors @ 15th

265 W 15th StPanama City, FL 32401
  • Utilities Included

Downtown Panama City, Panama City, FL Local Guide

Cheapest Available Downtown Panama City Apartments for Rent

 

The cheapest available apartment rental in the Downtown Panama City area of Panama City, FL is a 1 Bed unit found at Northgate Terrace I priced from $1,015. The Lory of Panama City has the second lowest priced unit, which is a 2 Beds apartment currently listed from $1,300. Here are the most affordable Downtown Panama City apartments for rent in Panama City, FL:

Apartment ListingModel NameBed/BathPriced From
Northgate Terrace IThe Hampton1BR,1BA$1,015
The Lory of Panama CityThe Valley2BR,2BA$1,300
The Residences At SweetBayA2- The Coastal Retreat1BR,1BA$1,344
Eagles Landing Luxury Apartment HomesThe Hummingbird1BR,1BA$1,359
Stanford Pointephase I 1bd/1ba1BR,1BA$1,386

Best Value Apartments for Rent in Downtown Panama City, FL

As of April 06, 2025 the best value apartment in the Downtown Panama City area is the $1.50 price per square foot The Club Model at The Lory of Panama City in the in the Downtown Panama City neighborhood starting from $1,800. The second greatest value Downtown Panama City apartment is the Herring Gull Model at The Enclave starting at $1,600 with a $1.34 price per square foot in the Downtown Panama City neighborhood. Here is today’s list of the best values for Downtown Panama City apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
The Lory of Panama CityThe Club3BR,3BA$1.50
The EnclaveHerring Gull2BR,2BA$1.34
Eagles Landing Luxury Apartment HomesThe Hummingbird1BR,1BA$1.47
Stanford Pointe1bd/1ba Phase II1BR,1BA$1.66
The Kelly at 23rd Luxury ApartmentsA1S1BR,1BA$2.03
The Residences At SweetBayA1- The Bay Breeze1BR,1BA$2.26
Northgate Terrace IThe Hampton1BR,1BA$1.69

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Pet Friendly Lifestyle
Downtown Panama City, Panama City, FL

Ranked #3

Among neighborhoods in Panama City, FL for Apartment listings with Pet Friendly Amenities

Pet Friendliness Lifestyle Score

2.5
Pet Friendly

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Getting Around the Downtown Panama City Neighborhood in Panama City, FL

Walk Score®

63 / 100

Somewhat Walkable

Some errands can be accomplished on foot

Bike Score®

56 / 100

Bikeable

Some bike infrastructure

Transit Score®

24 / 100

Minimal Transit

It may be possible to get on a bus

Frequently Asked Questions about Cheap Downtown Panama City Apartments

How much is rent for a Cheap One Bedroom Downtown Panama City Apartment?

The lowest price for a Cheap One Bedroom Downtown Panama City Apartment is $1,015 at Northgate Terrace I.

What is the lowest price for a Cheap Two Bedroom Downtown Panama City Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Downtown Panama City is starting from $1,300 at The Lory of Panama City.

What is the most affordable Downtown Panama City Three Bedroom Apartment?

The best deal on a cheap Downtown Panama City Three Bedroom Apartment rental is at Eagles Landing Luxury Apartment Homes and starts from $1,770.

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.

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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.

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Renting Smart: Lease Basics Every Renter Needs

Written by: Christine Leonard, Esq.

Often, in the excitement of finding a new place to live, there’s a rush to make it happen, and - too often - a new tenant signs a lease without reading it carefully.

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Battling the Butts: Your Guide to the Reality of Smoke-Free Renting

Written by: Andrea Lee Negroni, JD

While many apartment buildings are “no smoking” properties, it’s hard to know exactly how many. In 2017, the National Apartment Association reported more than half of rental properties had smoke free policies.

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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.