Billings vs Panama City
Fair Market Rent Comparison — HUD 2025 Data
Quick Answer
Panama City is 4% cheaper for renters. A 2-bedroom rents for $879/mo vs $913/mo in Billings — saving $408/year.
Rent by Unit Size
| Unit Size | Billings | Panama City | Difference |
|---|---|---|---|
| Studio | $613 | $571 | $42 |
| 1 Bedroom | $724 | $706 | $18 |
| 2 Bedrooms | $913 | $879 | $34 |
| 3 Bedrooms | $1,136 | $1,032 | $104 |
| 4 Bedrooms | $1,214 | $1,302 | $88 |
| Median Income | $47,175 | $44,385 | $2,790 |
Billings
- Studio
- $613/mo
- 1 BR
- $724/mo
- 2 BR
- $913/mo
- 3 BR
- $1,136/mo
- 4 BR
- $1,214/mo
- Median Income
- $47,175/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 Billings or Panama City cheaper to rent in?
Panama City is cheaper — a 2-bedroom Fair Market Rent is $879/mo vs $913/mo in Billings. That's $34/mo or $408/year more expensive in Billings (4% higher).
What is the 2-bedroom rent in Billings vs Panama City?
The HUD Fair Market Rent for a 2-bedroom in Billings is $913/month. In Panama City, a 2-bedroom FMR is $879/month.
How do incomes compare between Billings and Panama City?
The median household income in Billings is $47,175/year. In Panama City it is $44,385/year. Billings has the higher median income.
What is the studio rent in Billings vs Panama City?
A studio apartment Fair Market Rent in Billings is $613/mo. In Panama City it is $571/mo.