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Home appreciation in Panama City, FL

Over the five years ending 2025, home prices in Panama City, FL grew an average of 8.9% a year.

Price growth at a glance

1-year

+3.6%

2025 over 2024. Florida: +0.7%.

5-year, per year

+8.9%

Average annual growth, 2020 to 2025. Florida: +10.3%.

10-year, per year

+8.0%

+115.1% in total since 2015. Florida: +8.9%.

How does your home compare?

Panama City, FL home prices rose 115.1% over the ten years to 2025, while its ZIP codes ranged from +89.1% to +148.5%. Look up your home to see where it ranks among the homes around it.

Your first analysis is free.

A model-generated estimate and analytical context, not investment advice. Investing? Score any property free

How Panama City, FL compares with Florida

Florida averaged +10.3% a year, putting Panama City, FL behind the state overall. For five-year price growth, Panama City, FL ranks 228th out of 409 metros nationwide and 20th out of 25 in Florida.

Index, 2005 = 100

Panama City-Panama City Beach, FL and Florida, quarterly house price index rebased to 100 in 2005.
YearPanama City-Panama City Beach, FLFlorida
2005 Q1100100
2005 Q2107107
2005 Q3113115
2005 Q4118121
2006 Q1120126
2006 Q2120128
2006 Q3120129
2006 Q4121130
2007 Q1120130
2007 Q2119128
2007 Q3115123
2007 Q4114120
2008 Q1113115
2008 Q2111107
2008 Q310599
2008 Q410294
2009 Q110495
2009 Q29990
2009 Q39485
2009 Q49383
2010 Q18681
2010 Q28879
2010 Q38680
2010 Q48879
2011 Q18375
2011 Q28073
2011 Q38273
2011 Q48074
2012 Q18073
2012 Q27872
2012 Q37874
2012 Q47975
2013 Q17876
2013 Q28078
2013 Q38080
2013 Q48182
2014 Q18583
2014 Q28286
2014 Q38688
2014 Q48489
2015 Q18791
2015 Q28793
2015 Q39296
2015 Q48998
2016 Q19199
2016 Q294102
2016 Q395105
2016 Q496106
2017 Q194108
2017 Q2100111
2017 Q398113
2017 Q499115
2018 Q1105117
2018 Q2105120
2018 Q3107122
2018 Q4114123
2019 Q1114125
2019 Q2114126
2019 Q3116128
2019 Q4119130
2020 Q1121132
2020 Q2123134
2020 Q3124136
2020 Q4128140
2021 Q1130144
2021 Q2138154
2021 Q3145165
2021 Q4153174
2022 Q1158184
2022 Q2172199
2022 Q3179206
2022 Q4174205
2023 Q1180206
2023 Q2188210
2023 Q3187215
2023 Q4178214
2024 Q1182217
2024 Q2182219
2024 Q3186220
2024 Q4184222
2025 Q1183220
2025 Q2189221
2025 Q3197221
2025 Q4193223
2026 Q1192224
2026 Q2195224

Chart through 2026 Q2. Annual growth figures through 2025.

Five-year and ten-year growth rates were similar, at +8.0% a year over ten years and +115.1% in total, suggesting a similar pattern over both periods.

Over this history, home prices peaked in 2006, fell 34.5% to its 2012 low, and regained the 2006 level in 2020.

The strongest year was 2022 at +20.7%, and the weakest was 2010 at -10.6%.

In 2025 alone the index moved +3.6%, against +0.7% for the state.

ZIP codes in Panama City, FL

Over the ten years to 2025, the 9 ZIP codes FHFA measures in this metro ranged from +89.1% in 32409 to +148.5% in 32413, while the metro as a whole rose 115.1%.

ZIP codes in Panama City-Panama City Beach, FL ranked by 10-year home-price change through 2025 Column headers are buttons: click to sort, click again to reverse, and a third time to restore the original order.
32413+3.0%+10.0%+9.5%+148.5%
32408+0.8%+9.5%+9.3%+142.7%
32401+4.1%+8.8%+8.1%+118.1%
32428+7.1%+8.9%+7.4%+103.8%
32407+1.2%+6.5%+7.2%+100.0%
32444+3.8%+7.9%+6.9%+95.3%
32404-0.7%+7.1%+6.8%+92.3%
32405+1.5%+7.0%+6.7%+90.6%
32409+2.4%+7.2%+6.6%+89.1%

What a home report shows

Enter an address and you get a score out of 10 for how the home ranks on appreciation potential against comparable homes in its market, with the nearby sales behind it. Here is one saved report.

Example report · saved October 14, 2026

165 N Canal St, Apt 1205, Chicago, IL 60606

Appreciation score

4.1 / 10

Around the median

Where it ranks

Ranks above about 41% of comparable homes in Chicago, IL for appreciation potential.

Price against nearby sales

Priced below most nearby sales, at $300 per square foot across 6 comparable sales.

Read the full example report

Year by year

Annual house price index for Panama City-Panama City Beach, FL and Florida, 2005 = 100 Column headers are buttons: click to sort, click again to reverse, and a third time to restore the original order.
2005100.0—100.0
2006109.8+9.8%115.9
2007106.6-2.9%112.9
200898.1-8.0%93.6
200989.0-9.3%79.7
201079.6-10.6%72.0
201174.3-6.7%66.5
201271.9-3.3%66.1
201372.9+1.4%71.4
201477.0+5.6%78.0
201580.8+4.8%85.2
201685.8+6.3%93.0
201789.3+4.1%100.9
201898.2+10.0%108.6
2019105.6+7.5%114.8
2020113.2+7.2%122.0
2021129.1+14.1%143.5
2022155.9+20.7%179.1
2023167.3+7.3%190.7
2024167.6+0.2%198.1
2025173.7+3.6%199.4

The 25 measured metros in Florida

Measured metros in Florida ranked by 5-year home-price appreciation through 2025 Column headers are buttons: click to sort, click again to reverse, and a third time to restore the original order.
#
1Miami-Miami Beach-Kendall, FL (metropolitan division)+3.4%+12.8%+9.8%
2West Palm Beach-Boca Raton-Delray Beach, FL (metropolitan division)+2.4%+11.7%+9.4%
3Sebring, FL+2.5%+11.5%+9.8%
4Homosassa Springs, FL+2.3%+11.4%+10.3%
5Naples-Marco Island, FL-1.2%+11.3%+8.4%
6Tampa, FL (metropolitan division)+1.3%+11.0%+9.8%
7Fort Lauderdale-Pompano Beach-Sunrise, FL (metropolitan division)+1.1%+10.7%+8.7%
8Ocala, FL+2.2%+10.7%+9.1%
9Port St. Lucie, FL+0.2%+10.7%+9.6%
10St. Petersburg-Clearwater-Largo, FL (metropolitan division)-0.6%+10.7%+9.8%
11Sebastian-Vero Beach-West Vero Corridor, FL-1.1%+10.0%+9.3%
12Lakeland-Winter Haven, FL-1.0%+9.9%+9.3%
13Orlando-Kissimmee-Sanford, FL+1.7%+9.9%+8.8%
14Jacksonville, FL+1.9%+9.7%+8.4%
15North Port-Bradenton-Sarasota, FL-2.7%+9.7%+8.3%
16Gainesville, FL+1.4%+9.6%+8.0%
17Deltona-Daytona Beach-Ormond Beach, FL-0.2%+9.4%+9.0%
18Palm Bay-Melbourne-Titusville, FL+0.2%+9.4%+9.2%
19Pensacola-Ferry Pass-Brent, FL+1.0%+9.4%+8.4%
20Panama City-Panama City Beach, FL+3.6%+8.9%+8.0%
21Cape Coral-Fort Myers, FL-5.2%+8.8%+7.5%
22Crestview-Fort Walton Beach-Destin, FL+0.7%+8.8%+7.8%
23Tallahassee, FL+1.9%+8.6%+7.0%
24Punta Gorda, FL-6.8%+8.3%+7.8%
25Wildwood-The Villages, FL-0.6%+7.6%+5.9%

Source & method: Metro figures: FHFA quarterly all-transactions index for metropolitan statistical areas and metropolitan divisions, annualized as the mean of the four quarterly (NSA) values. State figures: FHFA quarterly all-transactions index, annualized as the mean of the four quarterly (NSA) values. The chart uses quarterly readings, with each series set to 100 in the first quarter of 2005. ZIP figures: FHFA annual five-digit ZIP index (developmental), ZIPs with sufficient transaction history. Missing years are reported as missing by FHFA and are not estimated. Each ZIP is placed in the metro that holds the county with most of its housing units. “5-yr /yr” and “10-yr /yr” are compound annual growth over the window ending 2025; all figures are nominal. Data published by the FHFA House Price Index; this edition compiled 2026-10-17. Educational data, not investment advice.

See the Florida row in the state rankings, the county rankings, and, for why one metro number hides so much, why two homes in the same ZIP code appreciate differently.

How does your home compare?

See how your home ranks against nearby homes. Your first analysis is free.

Look up your home

Investing? Score any property free

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Measured FHFA data · chart through 2026 Q2