
Cheap Homes for Rent in Panama, NY from $700 (12 Rentals)
Search the lowest-cost Homes available for rent right now in Panama.


50 Rochester St

105 Water St

19 Lambert Ave

114 1/2 W Walnut St
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.

427 Ash St

49 Mindi Ct

1128 N Main St

1231 Rankine Ave
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.

6621 W Ridge Rd

639 W 5th St

819 Villa Sites Ave
Panama, NY Local Guide

How much does it cost to rent a home in Panama?
Bedroom | Average Rent | Cheapest Rent | Highest Rent |
---|---|---|---|
Panama 2 Bedroom Homes for Rent | $1,246 | $734 | $1,750 |
Panama 3 Bedroom Homes for Rent | $1,555 | $985 | $2,200 |
Panama 4 Bedroom Homes for Rent | $3,140 | $2,350 | $4,500 |
Panama 5 Bedroom Homes for Rent | $1,590 | $1,590 | $1,590 |
Browse Top Homes for Rent in Panama
Explore Panama
Panama, NY Local Guide
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Cheapest Available Panama Apartments for Rent and Nearby
 The cheapest available apartment rental in Panama, NY is a 4 Beds unit found at University Gate in the Walczak Park neighborhood priced from $620. Drake Village Apartments has the second lowest priced unit, which is a 2 Beds apartment currently listed from $680. Here is today’s list of the most affordable Panama apartments for rent:
Apartment Listing | Model Name | Bed/Bath | Priced From |
---|---|---|---|
University Gate | 4 Bed Upgraded | 4BR,2BA | $620 |
Drake Village Apartments | 2 Bedroom | 2BR,1BA | $680 |
Wellman Building | 1 Bed, 1 bath | 1BR,1BA | $700 |
Lighthouse Apartments | 1 bedroom | 1BR,1BA | $750 |
The Meadows | 1 bedroom | 1BR,1BA | $750 |
Best Value Apartments for Rent in Panama, NY and Nearby
As of September 19, 2025 the best value apartment in the Panama area is the $0.97 price per square foot 3 Beds, 1.5 baths Model at Woodland Hills Townhomes in the in the Walczak Park neighborhood starting from $1,570. The second greatest value Panama apartment is the The Nittany Model at Hudson Lofts starting at $1,015 with a $0.74 price per square foot in the Walczak Park neighborhood. Here is today’s list of the best values for Panama apartments based on price per square foot:
Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
---|---|---|---|
Woodland Hills Townhomes | 3 Beds, 1.5 baths | 3BR,1.5BA | $0.97 |
Hudson Lofts | The Nittany | 4BR,4BA | $0.74 |
Granite Ridge Apartments | Three Bedroom Townhome - B | 3BR,1.5BA | $1.08 |
Arneman Place | 3 Bedroom Apartment | 3BR,1.5BA | $0.89 |
University Gate | 3 Bed upgraded | 3BR,2BA | $0.62 |
Ellicott Oaks Apartments | 2 Beds, 1 bath | 2BR,1BA | $0.91 |
The Meadows | 2 bedroom | 2BR,1BA | $1.18 |
Lovell Place | 1B1B | 1BR,1BA | $1.21 |
Park Row Apartments | 1 Bedroom, 1 Bathroom | 1BR,1BA | $1.13 |
Lighthouse Apartments | 1 bedroom | 1BR,1BA | $1.15 |
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Remember the 3 Rules of Real Estate:Location, Location, Location!
Explore Panama, NY Rentals by Map
See the most popular apartments and homes in Panama, NY
Frequently Asked Questions about Panama
What type of rentals are currently available in Panama?
There are currently 49 Apartments for Rent in Panama, NY with pricing that ranges from $555 to $2,897. There are also 37 Single Family Homes for rent, Condos, and Townhome rentals currently available in Panama ranging from $734 to $4,500.
What is the current price range for Rental Homes in Panama?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Panama ranges from $734 to $4,500 with an average monthly rent of $1,786.
How much are larger Three and Four Bedroom Rentals in Panama?
For those who are looking for larger living arrangements, Three Bedroom Apartments in Panama range from $560 to $2,897, while Three Bedroom Homes, Condos, and Townhomes for rent range from $985 to $2,200. Four Bedroom Single-Family rentals are also available starting from $2,350 and Four Bedroom Apartments start at $555.
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.

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.

The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro
Written by: Christine Leonard, Esq.
Hard truth. Moving is never easy. I’ve done it all – from local moves to cross-country relocations From packing to unpacking the last box, I have found moving to be an exhausting, expensive and stressful experience every time.