Panama City city, Florida Demographics & Population 2026

Population Overview

Panama City city is a mid-sized community located in Florida. The total population is 34,211. It ranks as the 125th most populous out of 953 cities and towns in Florida.

Age Demographics

The median age in Panama City city is 38.6 years. This is 9% lower than the state median of 42.6 years.

Economy, Income & Housing

The median household income in Panama City city is $61,125. This is 15% lower than the state median of $71,711. Compared to the national median of $78,538, household income here is 22% lower. The poverty rate stands at 17.3%. This is 37% higher than the state poverty rate of 12.6%. The unemployment rate is 4.4%. This is 8% lower than the state rate of 4.8%. The median home value is $243,200. Housing costs are 25% lower than the state median of $325,000. The home-value-to-income ratio is 4.0x. 55.1% of occupied housing units are owner-occupied. This homeownership rate is 18% lower than the state average of 67.3%.

Race & Ethnicity

The largest racial or ethnic group in Panama City city is White (non-Hispanic), making up 60.8% of the population. Black or African American residents account for 21.0%. The Hispanic or Latino population (9.7%) is well below the state average of 26.8%. The Asian population (1.0%) is well below the state average of 2.8%.

Education

25.6% of residents aged 25 and older hold a bachelor's degree or higher. This is 23% lower than the state rate of 33.2%. Nationally, 35.0% of adults hold at least a bachelor's degree. The high school graduation rate (or equivalent) is 89.3%.

Data Sources & Methodology

All demographic data for Panama City city, Florida is sourced from the U.S. Census Bureau's American Community Survey (ACS) 5-Year Estimates (2019-2023). The ACS collects data from approximately 3.5 million households annually, providing reliable estimates for communities of all sizes. Comparisons are made against Florida state averages and national averages calculated from the same dataset. Rankings reflect the city's position among all 953 Census-designated places in Florida. For official data, visit data.census.gov.