Cheap Apartments for Rent in Panama City, FL from $400 (65 Rentals)

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

property at 901 Russ Lake Dr

$850

1 Bedroom, 1 Bath Home for Rent

Available Now

901 Russ Lake Dr

Panama CityFL32404
property at 7718 FL-22

$895

1 Bedroom Rentals

Available Now

7718 FL-22

Panama CityFL32404
property at 130 Cheri Ln

$950

2 Bedroom Rentals

Available Now

130 Cheri Ln

Panama CityFL32404

Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

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property at 3704 E 11th St

$975 - $995

2 Bedroom Rentals

Available Now

3704 E 11th St

Panama CityFL32401
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Bayside Villas
Rent Specials
$999 - $1,149
Total Monthly Price

Total Monthly Price

Base Rent
$991 - $1,141
Required Monthly Fees
$8
Total Monthly Price
$999 - $1,149
2 Bedroom Apartments Available Now

Bayside Villas

1406 S Berthe AvePanama City, FL 32404
Affordability
  • Verified
  • Customer Reviewed
  • Utilities Included

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

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property at 1814 Arthur Ave

$1,000 - $1,300

2 To 3 Bedroom Rentals

Available Now

1814 Arthur Ave

Panama CityFL32405
property at 830 West St

$1,025

2 Bedroom Rentals

Available Now

830 West St

Panama CityFL32404
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Westwood Village
$1,075 - $1,250
Total Monthly Price

Total Monthly Price

Base Rent
$1,051 - $1,226
Required Monthly Fees
$24
Total Monthly Price
$1,075 - $1,250
1 to 2 Bedroom Apartments Available Feb 20

Westwood Village

2203 Beck AvePanama City, FL 32405
Affordability
  • Verified
  • Utilities Included
  • Smoke Free

The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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property at 3614 Tiki Dr

$1,200

1 Bedroom Rentals

Available Now

3614 Tiki Dr

Panama CityFL32408
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Spring Gate
Studio to 2 Bedroom Apartments

Spring Gate

1500 Springate DrPanama City, FL 32404
  • Utilities Included
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5802 Sr-22
1 Bedroom Apartments

5802 Sr-22

5802 Sr-22Panama City, FL 32404
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The Arbors @ 15th
1 to 3 Bedroom Apartments

The Arbors @ 15th

265 W 15th StPanama City, FL 32401
  • Utilities Included
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Palm Vista
Studio to 3 Bedroom Apartments

Palm Vista

322 Burkett DrPanama City, FL 32404
  • Utilities Included

Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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Panama City, FL Local Guide

Photo of Justin Habersaat - Editing Staff
Written By:
Justin Habersaat
Editing Staff

Cheapest Neighborhoods for Apartments in Panama City, FL

Pricing Updated: 02/17/2026

Current apartment rentals in the Panama City, FL area range in price from to with an overall median price of . Here is today’s list neighborhoods with the lowest median pricing for Panama City Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Downtown Panama City$2,500$1,00017
SweetBay$2,550$8258
St Andrews$3,500$95015
Pretty Bayou$3,900$82516

Cheapest Available Panama City Apartments for Rent

 

The cheapest available apartment rental in Panama City, FL is a Studio unit found at Cottages by the Bay priced from $899. Cedar Trace Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $900. Here is today’s list of the most affordable Panama City apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Cottages by the BayStudioStudio,1BA$899
Cedar Trace Apartments1 bedroom1BR,1BA$900
Northgate Terrace IThe Kenley IIStudio,1BA$925
Pinnacle at Hammock Place1x11BR,1BA$949
Andrews Place Apartments1 Bed 1 Bath1BR,1BA$983
Tyndall Pointe Townhomes1 Bed 1 Bath Unit1BR,1BA$995
Bayside VillasThe Coral2BR,1BA$999
Magnolia Cove Apartments and Marina1 Bed1BR,1BA$1,050
Palm Court Apartments4x1.54BR,1BA$1,095

Best Value Apartments for Rent in Panama City, FL

As of February 17, 2026 the best value apartment in the Panama City area is the $1.31 price per square foot Palm B Model at Parkview at Lynn Haven in the in the SweetBay neighborhood starting from $1,950. The second greatest value Panama City apartment is the Laurel Oak Model at Arbor Trace Apartment Homes starting at $1,760 with a $1.22 price per square foot in the SweetBay neighborhood. Here is today’s list of the best values for Panama City apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Parkview at Lynn HavenPalm B3BR,2.5BA$1.31
Arbor Trace Apartment HomesLaurel Oak2BR,2BA$1.22
Palm Court Apartments4x1.54BR,1BA$0.92
Pointe Grand Panama City2 Bedroom, 2 Bathroom2BR,2BA$1.31
Pinnacle at Hammock Square2x22BR,2BA$1.07
Andrews Place Apartments1 Bed 1 Bath1BR,1BA$1.12
5820 Hickory St, Unit Apt 135820 Hickory St2BR,1BA$1.31
Tyndall Pointe Townhomes1 Bed 1 Bath Unit1BR,1BA$1.24
Pinnacle at Hammock Place1x11BR,1BA$1.22
Cedar Trace Apartments1 bedroom1BR,1BA$1.30

Don't Settle: How to Negotiate Your Apartment Lease and Save Money

Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.

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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

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Quick Rent Budget Calculator

How much rent can you afford?

The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

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Panama City Overview

Located snugly between the hubs of Tallahassee and Pensacola, apartments in Panama City are a great way to get to know Florida. Originally going by the clunky name Floriopolis, Panama City has since blossomed into a world-class destination worthy of its new moniker.

Why live in Panama City, FL?

From the gorgeous beaches to the exciting nightlife, Panama City is an idyllic slice of the Sunshine State. With a reasonable cost of living and an on-the-move economic growth rate, this Florida hot spot has been increasing in popularity in recent years with good measure. With a large number of industries including ship building and military calling the area home, Panama City apartments make an easy commute for those in the market for a new career and budding families.

Best Local Schools in
Panama City, FL

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Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Panama City, FL Rentals by Map

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Panama City, FL Area Reviews

    Estrella

    February 25, 2025

    Yo quiero tengo interés me decían q es más barato q Miami no creo alguien me puede escribir

    Frequently Asked Questions about Cheap Panama City Apartments

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

    The lowest price for a Cheap One Bedroom Panama City Apartment is $900 at Cedar Trace Apartments.

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

    Today's best deal for a Cheap Two Bedroom Apartment in Panama City is starting from $999 at Bayside Villas.

    What is the most affordable Panama City Three Bedroom Apartment?

    The best deal on a cheap Panama City Three Bedroom Apartment rental is at Cedar Trace Apartments and starts from $1,200.

    Expert Rental Resources

    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.

    Articles, How-To's, and Tips

    decorative image for Maximizing Your Refund: Essential Tax Tips for Renters article

    Maximizing Your Refund: Essential Tax Tips for Renters

    Written by: Christine Leonard, Esq.

    Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

    decorative image for 18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property article

    18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

    Written by: Lauren Harrington

    Renting your next home can feel thrilling and overwhelming at the same time.

    decorative image for A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment article

    A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

    Written by: Bob Mallory

    Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

    decorative image for Renting with Roommates: Realistic Expectations for Shared Lease article

    Renting with Roommates: Realistic Expectations for Shared Lease

    Written by: Christine Leonard, Esq.

    Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.