Is Panama City, Florida A Good Place To Live?

Panama City often gets confused for Panama City Beach even though they are different places. Panama City Beach is the vacation hotspot flocked by people whenever spring break or summer rolls around. Meanwhile, Panama City is more in line with a typical Florida town.

Does that mean Panama City has nothing to offer folks thinking of moving there? That is not the case at all. You may even find Panama City to be a more suitable home for you and your family.

Panama City’s close proximity to the beach is obviously one of the main reasons why moving there is a good idea. It also helps that homes there are more affordable compared to what you’ll see in other Florida cities. You do have to be wary of hurricane season and the high crime rates if you’re planning to move there though.

Is Panama City the right home for you and your growing family? Get the answer to that question as well as more details about Panama City by reading on.

It’s worth noting again here that Panama City and Panama City Beach are two different places. Panama City Beach is the tourist destination most people know. Panama City is a more conventional locale.

Does that mean that you’re missing out on the stunning Florida coastline if you move to Panama City? That is not something you should be worried about. Even if you move to Panama City, heading to the beach regularly remains an option. The drive from Panama City to the closest beach will take about 20 minutes. The trip will remain very manageable even if you have to contend with some tourists.

Staking out a good spot along the white sand will be tougher if you’re coming from out of town. Leaving earlier from your home can help with that though.

Another great thing about living close to the beach is that you don’t have to pay for expensive hotels. Once you’ve gotten your fill of the sun and sand, you can hop back in your car and drive home. After a short drive, you’ll be ready to relax on your comfortable bed.

Homes in Panama City Beach are considered prime slices of real estate. As with anything considered to be a premium commodity, demand is high for homes in Panama City Beach. All that demand drives the prices up as well.

The median cost for a new home in Panama City Beach is $283,000. That’s 20 percent higher than the median cost for a new home in Florida. It’s not surprising in any way to find out that homes in Panama City Beach are expensive. The good news is that you can some money by buying your home in Panama City instead.

The median cost for a new house in Panama City is significantly lower at $191,000. It’s easier to afford that kind of price tag especially for a family on the move.

Basically, you can purchase a cheaper home in Panama City and still secure a location not far from the beach. Take full advantage of the friendly prices without missing out on any of the perks.

A lot of economies throughout the United States are still reeling from the effects of the pandemic. Panama City is no exception that. However, the city’s economy has actually fared pretty well given the circumstances.

While the unemployment rate nationwide stands at 6 percent, the rate for Panama City is 5.3 percent. Even though the difference doesn’t amount to a full percentage point, it’s still a big deal. You can see that the job market has managed to hold steady over there in Panama City.

Unfortunately, the long-term prospects for Panama City’s economy are not as rosy. The city’s economy is expected to lag well behind the rest of the country if we’re talking about growth. Hopefully, those projections for Panama City will look better sooner rather than later.

Every now and then, Florida residents get a reminder of how dangerous hurricane season is there. For residents of Panama City, that happened in 2018.

Back in 2018, Panama City bore the brunt of the devastation from Hurricane Michael. The city was absolutely devastated by the powerful winds and the surging waters.

Hurricanes as powerful as Michael are rare, but those powerful weather phenomena are still known to hit Florida regularly. If you intend to live in a coastal Florida city, you must be ready to deal with extreme weather.

Prepare your Panama City home by clearing your gutters, installing hurricane straps, and following other precautionary measures. Taking those precautionary measures won’t guarantee that your home will emerge unscathed from the hurricane, but they will help.

The threat of an approaching hurricane may not have concerned you that much prior to moving to Florida. If you do decide to stay in Panama City, monitoring hurricanes will have to become a part of your routine.

Temperatures in Panama City tend to reach the 90s during the peak of summer. The temperatures alone don’t make the climate uncomfortable in Panama City. The problem emerges when those high temperatures combine with rain.

Panama City gets about 60 inches of rain per year. It’s not uncommon for a hot day to become a humid day in the city.

Dealing with the high temperatures is already quite the challenge. Adding the humidity to the mix can make staying in the city simply unbearable at times. You almost have to head to the beach in order to escape the heavy atmosphere.

Panama City likely won’t be making any lists detailing the safest cities in Florida anytime soon. Crime has been an issue for Panama City for a very long time.

Neighborhood Scout notes that Panama City is safer than just 2 percent of the cities in the United States. That number should not come as a shock after you learn of the crime rates in Panama City. The violent crime rate for the city is 6.58 per 1,000 residents. The number jumps up to 55.30 per 1,000 residents for property crimes.

Being aware of the crime problem in Panama City is a must before moving there. Now that you know about those crime rates, you are better equipped to make your final decision.

Related Questions

What Are the Major Industries in Panama City?

We noted above that the long-term projections for Panama City’s economy are not that great. So, what kind of career should you pursue in the city if you want some stability?Right now, the major industries in the city are healthcare, retail trade, and food services. You may be able to enjoy some stability if you have experience in those industries.

What Are Some of Panama City’s Unique Features?

Arguably the most unique features of Panama City are the military bases there. Both the Air Force and the Navy have bases that are situated very close to Panama City. You may see some soldiers traveling through the city pretty regularly because of that.Those military bases also contribute heavily to employment in the area. They are among the biggest employers in all of Panama City so many residents are grateful for their presence.