Panama City Beach, FL
Florida Panhandle - high-volume family and spring break market
Panama City Beach offers 27 miles of Gulf Coast beach and one of the densest STR markets in Florida. Entry prices are meaningfully lower than Destin and 30A while delivering comparable occupancy during peak season. The market is heavily family- and spring-break-driven, with strong Memorial Day through Labor Day performance and soft winters.
Across 150 active STR-viable listings analyzed this month, Panama City Beach shows a 4.4% median cap rate at a $465K median list price, 42% occupancy, and $262/night. That ranks #14 of 57 markets in STRROI's live ranking. At typical prices, cash flow is tight: most listings only pencil out with a large down payment, a below-list purchase, or above-market nightly rates.
Panama City Beach real estate market right now
As of October 15, 2026, STRROI is tracking 150 homes for sale in Panama City Beach that could run as short-term rentals, at a median list price of $465,000. The middle half are priced between $330K and $711K. That works out to a median of $337 per square foot for a typical 1,378 square foot home. Homes here have been on the market 113 days on average, close to the 101 days typical across the 56 markets in STRROI's ranking. 45 of them were listed in the last 30 days.
These numbers cover the homes for sale STRROI analyzes as potential short-term rentals in Panama City Beach, mainly ZIP 32413. They are not every home sale in the area, so they can differ from MLS-wide figures. Month-by-month price history starts Oct 2026 and fills in as the market is re-checked each month.
What's for sale in Panama City Beach right now
Of the 150 homes for sale we analyzed in Panama City Beach, 10 (7%) project positive monthly cash flow with 20% down at a 7.5% rate, and 2 rate Buy or better on STRROI's 1-10 scale. 3-bedroom homes are the most common (59 for sale, median $499K). Returns are strongest in 1-bedroom homes at a 5.6% median cap rate, and weakest in 5+ bedroom homes at 3.1%. By property type, manufactured homes lead at a 6.1% median cap rate across 20 listings.
- Strong Buy: 1
- Buy: 1
- Moderate Buy: 1
- Watch: 7
- Weak: 92
- Avoid: 48
| Beds | For sale | Median price | Cap rate |
|---|---|---|---|
| 1 | 9 | $225K | 5.6% |
| 2 | 52 | $409K | 4.3% |
| 3 | 59 | $499K | 4.6% |
| 4 | 17 | $789K | 4.7% |
| 5+ | 13 | $2.8M | 3.1% |
| Type | For sale | Median price | Cap rate |
|---|---|---|---|
| Single-family homes | 41 | $649K | 4.1% |
| Townhouses | 41 | $425K | 4.1% |
| Condos | 37 | $460K | 4.5% |
| Manufactured homes | 20 | $295K | 6.1% |
| Multi-family | 11 | $725K | 5.9% |
Top-ranked homes for sale in Panama City Beach this month
Scored 1-10 against real Airbnb comps. Addresses, photos and the full underwriting are in the app.
- #1Strong Buy · 9/105 bd · 2 ba manufactured homeZIP 32413 · listed at $472K
- Cap rate
- 9.1%
- Cash flow
- +$953/mo
- Nightly
- $499 at 42%
- #2Buy · 8/101 bd · 1 ba multi-family propertyZIP 32413 · listed at $225K
- Cap rate
- 9.1%
- Cash flow
- +$452/mo
- Nightly
- $131 at 42%
- #3Moderate Buy · 6/104 bd · 2 ba townhouseZIP 32413 · listed at $510K
- Cap rate
- 7.5%
- Cash flow
- +$326/mo
- Nightly
- $450 at 42%
How Panama City Beach compares
Panama City Beach ranks #5 of 21 Southeast markets in STRROI's live ranking; St. Augustine leads the region with a median cap rate of 5.7%. Its 4.4% cap rate is 1.5 points above the 2.9% median across all 57 ranked markets, and its $465K typical list price is cheaper than the Southeast median of $633K.
| Rank | Market | Cap rate | Typical price |
|---|---|---|---|
| #7 | New Orleans, LA | 5.7% | $450K |
| #9 | Savannah, GA | 5.2% | $799K |
| #11 | Key West, FL | 4.9% | $860K |
| #14 | Panama City Beach, FL | 4.4% | $465K |
| #15 | Myrtle Beach, SC | 4.4% | $315K |
| #21 | Gulf Shores, AL | 3.7% | $499K |
| #23 | Amelia Island, FL | 3.5% | $625K |
Rank is national, by median cap rate across active STR-viable listings. Cash flow uses STRROI's default financing assumptions. See the full ranking
Estimated Annual Performance
* Estimates based on market averages. Individual property performance varies. Always run a full underwriting analysis.
Why Investors Choose Panama City Beach
Panama City Beach STR investing, answered
Is Panama City Beach, FL a good short-term rental market?
Panama City Beach is a Southeast STR market with a 4.4% median cap rate, 42% annual occupancy, and $262/night across STR-viable listings, based on 150 active listings. It ranks #14 of 57 markets by median cap rate in STRROI's live ranking. This month 2 of its 150 homes for sale rate Buy or better.
What is the average Airbnb occupancy rate in Panama City Beach?
STR-viable properties in Panama City Beach average about 42% occupancy across the year. Peak season is Memorial Day - Labor Day, Spring Break. Occupancy here reflects availability-adjusted booking performance, not raw calendar occupancy, so it represents what a full-time operated rental can realistically achieve.
How much do short-term rentals earn in Panama City Beach?
At $262/night and 42% occupancy, a typical Panama City Beach STR grosses roughly $40,260 per year before expenses, leaving an estimated $24,156 in net operating income. Across analyzed listings the median cap rate is 4.4%. Individual results depend on property, amenities, and management.
What types of properties work best for STR in Panama City Beach?
Among homes for sale right now, 1-bedroom homes post the strongest median cap rate by size (5.6%), and manufactured homes lead by property type (6.1%). With guests, the best-performing STR types here are Condo, Beach House, Gulf-front Unit. Matching the local guest profile and the amenities that drive bookings matters more than raw square footage.
How many homes for sale in Panama City Beach cash flow as an Airbnb?
10 of 150 STR-viable listings (7%) project positive monthly cash flow after the mortgage, assuming 20% down at a 7.5% rate on a 30-year loan. The top-ranked listing this month is a 5-bedroom manufactured home in ZIP 32413 listed at $472K, projecting a 9.1% cap rate and +$953 a month.
What is the median home price in Panama City Beach, FL right now?
The median list price of the 150 homes for sale STRROI tracks in Panama City Beach is $465,000, and the middle half are priced between $330K and $711K. The median price per square foot is $337. These are homes that could run as short-term rentals, mainly ZIP 32413, not every sale in the area. Against a 4.4% median cap rate, that price level sets the return baseline you'd underwrite against.
How long do homes stay on the market in Panama City Beach?
Homes for sale in Panama City Beach have been listed 113 days on average, close to the 101 days typical across the 56 markets in STRROI's ranking. 45 of them were listed in the last 30 days.
Market averages, not guarantees. Cap rates, occupancy, and nightly rates are market-wide averages based on active STR listings and historical data. Individual property performance depends on location, amenities, management, and listing quality. Always run a full underwriting analysis before purchasing.Stats sourced from 150 active listings · last updated Oct 15, 2026
Run a live analysis in Panama City Beach
Search homes for sale in Panama City Beach and instantly see cap rates, cash flow projections, and STR comp-backed nightly rates - all in one underwriting report.