Albany vs Panama City
Fair Market Rent Comparison — HUD 2025 Data
Quick Answer
Albany is 52% cheaper for renters. A 2-bedroom rents for $577/mo vs $879/mo in Panama City — saving $3,624/year.
Rent by Unit Size
| Unit Size | Albany | Panama City | Difference |
|---|---|---|---|
| Studio | $407 | $571 | $164 |
| 1 Bedroom | $488 | $706 | $218 |
| 2 Bedrooms | $577 | $879 | $302 |
| 3 Bedrooms | $748 | $1,032 | $284 |
| 4 Bedrooms | $841 | $1,302 | $461 |
| Median Income | $39,279 | $44,385 | $5,106 |
Albany
- Studio
- $407/mo
- 1 BR
- $488/mo
- 2 BR
- $577/mo
- 3 BR
- $748/mo
- 4 BR
- $841/mo
- Median Income
- $39,279/yr
Panama City
- Studio
- $571/mo
- 1 BR
- $706/mo
- 2 BR
- $879/mo
- 3 BR
- $1,032/mo
- 4 BR
- $1,302/mo
- Median Income
- $44,385/yr
Frequently Asked Questions
Is Albany or Panama City cheaper to rent in?
Albany is cheaper — a 2-bedroom Fair Market Rent is $577/mo vs $879/mo in Panama City. That's $302/mo or $3,624/year more expensive in Panama City (52% higher).
What is the 2-bedroom rent in Albany vs Panama City?
The HUD Fair Market Rent for a 2-bedroom in Albany is $577/month. In Panama City, a 2-bedroom FMR is $879/month.
How do incomes compare between Albany and Panama City?
The median household income in Albany is $39,279/year. In Panama City it is $44,385/year. Panama City has the higher median income.
What is the studio rent in Albany vs Panama City?
A studio apartment Fair Market Rent in Albany is $407/mo. In Panama City it is $571/mo.