Panama City, FL

Population: 36,877
Average annual home appreciation rate: -1.37%
Total of homes for sale in this market: 1,916
Median home price: $136,847
Median Rent: $933 per room
Home price range: 38.20% of homes are between $101,001 – $203,000
Median sales price: $123,900
Number of homes: 1,113
Median foreclosure sales price: $88,000
Foreclosure discount: 29%
Most common home type: 60.14% of homes are SINGLE FAMILY DETACHED
Number of vacant homes: 15.93%
Number of renters: 51.38%
Number of owner occupied: 48.62%
Number people living below poverty level: 20.20%
Unemployment rate: 6.40%
Is this area perfect for real estate deals going on right now? Data shows that Panama City is in a ‘down’ market as we speak. Down markets can spell many opportunities for the savvy investor if they know what they have to work with. The lower overall home prices, higher rents, and multiple troubled/vacant properties available on the market could lead to many opportunities for the savvy cash investor to acquire buy and hold properties at low cost. With the high rental rates in the area, they could ride out the market until it makes its return.

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