Cheap Homes for Rent in Panama City, FL from $500 (27 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

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

property at 4512 Carla Ln

4512 Carla Ln

Panama CityFL32405

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.

Read Article

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.

Read Article

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.

Read Article

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.

Read Article
Showing Results 1-27, Page 1 of 1

Panama City, FL Local Guide

Cheapest Neighborhoods for Apartments in Panama City, FL

Pricing Updated: 06/25/2025

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$2,200$1,30013
Pretty Bayou$2,600$1,49514
SweetBay$2,750$1,7505
St Andrews$2,850$97511

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 $939. Tyndall Pointe Luxury Townhomes has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,195. Here is today’s list of the most affordable Panama City apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Cottages by the BayStudioStudio,1BA$939
Tyndall Pointe Luxury Townhomes1 Bed 1 Bath Unit1BR,1BA$1,195
Spyglass Apartments1 bedroom1BR,1BA$1,195
Aztec Villa ApartmentsTwo Bedroom2BR,2BA$1,235
10X Panama City BeachA11BR,1BA$1,262
Bay Front Apartments1 Bed, 1 Bath1BR,1BA$1,275
The Reserve at Northshore1 Bedroom B1BR,1BA$1,275
The Lory of Panama CityThe Valley2BR,2BA$1,300

Best Value Apartments for Rent in Panama City, FL

As of June 25, 2025 the best value apartment in the Panama City area is the $1.42 price per square foot Alpine Model at Sunset Village in the starting from $2,200. The second greatest value Panama City apartment is the Palm B Model at Parkview at Lynn Haven starting at $1,850 with a $1.24 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.
Sunset VillageAlpine3BR,2BA$1.42
Parkview at Lynn HavenPalm B3BR,2.5BA$1.24
Covey Homes Grand LagoonMint3BR,2.5BA$1.34
North Bay LandingsTownhome3BR,2BA$1.39
Ava Kay TownhomesTOWNHOME 13BR,2BA$1.31
The Place at Grand LagoonC13BR,2BA$1.27
Arbor Trace Apartment HomesTupelo1BR,1BA$1.31
Aztec Villa ApartmentsTwo Bedroom2BR,2BA$1.15
2701 beech st #a, Unit b2701 beech st #a2BR,1BA$1.30
Turtle LakeB22BR,1.5BA$1.45

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.

decorative image of people with a giant lease agreement

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 Panama City

    What type of rentals are currently available in Panama City?

    There are currently 294 Apartments for Rent in Panama City, FL with pricing that ranges from $825 to $4,683. There are also 211 Single Family Homes for rent, Condos, and Townhome rentals currently available in Panama City ranging from $550 to $6,500.

    What is the current price range for Rental Homes in Panama City?

    Today's rental pricing for Homes for Rent, Condos and Townhomes in Panama City ranges from $550 to $6,500 with an average monthly rent of $1,892.

    How much are larger Three and Four Bedroom Rentals in Panama City?

    For those who are looking for larger living arrangements, Three Bedroom Apartments in Panama City range from $1,100 to $4,683, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,300 to $3,850. Four Bedroom Single-Family rentals are also available starting from $1,795 and Four Bedroom Apartments start at $1,735.

    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.

    decorative image for Roommate Matching: Finding the Right Fit and Avoiding Pitfalls article

    Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

    Written by: Cheryl Bowman

    A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

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

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

    Written by: Marie Brown

    You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

    decorative image for Know Your Budget: Calculating What You Can Realistically Afford When Renting article

    Know Your Budget: Calculating What You Can Realistically Afford When Renting

    Written by: Lauren Harrington

    Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.

    decorative image for The Freedom of Short-Term Leases: Exploring the Advantages for Renters article

    The Freedom of Short-Term Leases: Exploring the Advantages for Renters

    Written by: Bobbi Jackson

    If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.