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$1,300 - $1,8001 to 3 Bedroom Apartments Available Now
The Lory of Panama City
2121 Harrison AvePanama City, FL 32405
Cheap Apartments for Rent in the Downtown Panama City Neighborhood of Panama City, FL from $500 (15 Rentals)
Search the lowest-cost Apartments available for rent right now in the Downtown Panama City area of Panama City.
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$775 - $1,139Studio to 3 Bedroom Apartments Contact Us For Availability
Pelican Bay Apartment Homes
924 Florida AvePanama City, FL 32401
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$925 - $1,315Studio to 2 Bedroom Apartments Available Now
Northgate Terrace I
425 E 19th StPanama City, FL 32405
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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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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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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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Downtown Panama City, Panama City, FL Local Guide
Bunkers Cove by Flickr User: aggie85 is licensed under CC BY 2.0
How much does it cost to rent an apartment in Downtown Panama City?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Downtown Panama City Studio Apartments | $850 | $775 | $925 |
| Downtown Panama City 1 Bedroom Apartments | $1,295 | $799 | $1,464 |
| Downtown Panama City 2 Bedroom Apartments | $1,568 | $1,104 | $1,800 |
| Downtown Panama City 3 Bedroom Apartments | $1,802 | $1,139 | $1,953 |
| Downtown Panama City 4 Bedroom Apartments | $3,400 | $3,400 | $3,400 |
Browse Apartments in this Neighborhood
There are currently 15 rentals with your search options within a 2 mile radius of the Downtown Panama City Neighborhood of Panama City, FL.
See all Apartments in Panama CityExplore Panama City
Downtown Panama City, Panama City, FL Local Guide
- Nearby Panama City neighborhoods
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Cheapest Available Downtown Panama City Apartments for Rent
The cheapest available apartment rental in the Downtown Panama City area of Panama City, FL is a Studio unit found at Northgate Terrace I priced from $925. The Arbors @ 15th has the second lowest priced unit, which is a 2 Beds apartment currently listed from $1,193. Here are the most affordable Downtown Panama City apartments for rent in Panama City, FL:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Northgate Terrace I | The Kenley II | Studio,1BA | $925 |
| The Arbors @ 15th | Magnolia | 2BR,2BA | $1,193 |
| The Kelly at 23rd Luxury Apartments | A2 | 1BR,1BA | $1,414 |
| The Lory of Panama City | The Valley | 2BR,2BA | $1,500 |
| Pointe Grand Panama City | 2 Bedroom, 2 Bathroom | 2BR,2BA | $1,600 |
Best Value Apartments for Rent in Downtown Panama City, FL
As of November 17, 2025 the best value apartment in the Downtown Panama City area is the $1.37 price per square foot 2 Bedroom, 2 Bathroom Model at Pointe Grand Panama City in the in the Downtown Panama City neighborhood starting from $1,600. The second greatest value Downtown Panama City apartment is the Carambola Model at Foxwood starting at $1,780 with a $1.60 price per square foot in the Downtown Panama City neighborhood. Here is today’s list of the best values for Downtown Panama City apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Pointe Grand Panama City | 2 Bedroom, 2 Bathroom | 2BR,2BA | $1.37 |
| Foxwood | Carambola | 3BR,1BA | $1.60 |
| The Arbors @ 15th | Magnolia | 2BR,2BA | $1.20 |
| The Lory of Panama City | The Valley | 2BR,2BA | $1.67 |
| The Kelly at 23rd Luxury Apartments | A1 | 1BR,1BA | $1.89 |
| Northgate Terrace I | The Kenley II | Studio ,1BA | $3.08 |
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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Pet Friendly LifestyleDowntown Panama City, Panama City, FL
Ranked #3
Among cities in Florida for Apartment listings with Pet Friendly Amenities.
Pet Friendliness Lifestyle Score
3.5Pet Friendly
Getting Around the Downtown Panama City Neighborhood in Panama City, FL
Walk Score®
63 / 100
Somewhat Walkable
Some errands can be accomplished on foot
Bike Score®
56 / 100
Bikeable
Some bike infrastructure
Transit Score®
24 / 100
Minimal Transit
It may be possible to get on a bus
What Are Walk Score®, Transit Score®, and Bike Score® Ratings?
- Walk Score® measures the walkability of any address.
- Transit Score® measures access to public transit.
- Bike Score® measures the bikeability of any address.
Frequently Asked Questions about Cheap Downtown Panama City Apartments
How much is rent for a Cheap One Bedroom Downtown Panama City Apartment?
The lowest price for a Cheap One Bedroom Downtown Panama City Apartment is $1,105 at Northgate Terrace I.
What is the lowest price for a Cheap Two Bedroom Downtown Panama City Apartment for rent?
Today's best deal for a Cheap Two Bedroom Apartment in Downtown Panama City is starting from $1,193 at The Arbors @ 15th.
What is the most affordable Downtown Panama City Three Bedroom Apartment?
The best deal on a cheap Downtown Panama City Three Bedroom Apartment rental is at Foxwood and starts from $1,780.
Expert Rental Resources
Helpful Apartment Articles, How-To's and Tips
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.
Apartment Common Area Rules: What Renters Need to Know
Written by: Christine Leonard, Esq.
Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.
How to Negotiate Your Apartment Lease and Save Money
Written by: Christine Leonard, Esq.
Everything is a negotiation in real estate!
The Rental Move-In Inspection Checklist: A Guide for Renters
Written by: Trey Huguley
The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.
Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between
Written by: Christine Leonard, Esq.
For many people, obstacles can arise during the rental application process for a variety of issues.