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1031 Exchange Panama City, Florida

 

Rent, population, and median household income are important factors to consider for a 1031 exchange in Panama City due to their correlations with market demand, and conversely, vacancy rate.

Surrounding metropolitan area Area

Panama City, Florida is a part of the Panama City, FL metropolitan area area, and contains 11 zip codes, including: 32409, 32408, 32405, 32401, 32402, and 32412.

Panama City Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Panama City, FL metropolitan area area was $1,151, which is 39.68% lower than 2014 average rent. This represents a compounded annual growth rate of 6.91%. 2019 vacancy in Panama City, FL was 3.20%.

The total population of the city of Panama City, FL has grown 1.16% since 2010. As of 2018, the population was 36,908. The median household income of the Panama City was $41,161, which is 31.73% lower than the national average.

  • metropolitan area area Panama City, FL
  • avg rent $1,151
  • rent growth 39.68%
  • vacancy 3.20%
  • median income $41,161
  • population (2018) 36,908
  • population growth 1.16%
  • vs. nat'l avg 31.73%
  • zip codes 32401 32402 32403 32404 32405 32406 32408 32409 32411 32412 32417

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