Cedar Rapids vs Panama City
Fair Market Rent Comparison — HUD 2025 Data
Quick Answer
Cedar Rapids is 10% cheaper for renters. A 2-bedroom rents for $800/mo vs $879/mo in Panama City — saving $948/year.
Rent by Unit Size
| Unit Size | Cedar Rapids | Panama City | Difference |
|---|---|---|---|
| Studio | $530 | $571 | $41 |
| 1 Bedroom | $637 | $706 | $69 |
| 2 Bedrooms | $800 | $879 | $79 |
| 3 Bedrooms | $966 | $1,032 | $66 |
| 4 Bedrooms | $1,168 | $1,302 | $134 |
| Median Income | $45,870 | $44,385 | $1,485 |
Cedar Rapids
- Studio
- $530/mo
- 1 BR
- $637/mo
- 2 BR
- $800/mo
- 3 BR
- $966/mo
- 4 BR
- $1,168/mo
- Median Income
- $45,870/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 Cedar Rapids or Panama City cheaper to rent in?
Cedar Rapids is cheaper — a 2-bedroom Fair Market Rent is $800/mo vs $879/mo in Panama City. That's $79/mo or $948/year more expensive in Panama City (10% higher).
What is the 2-bedroom rent in Cedar Rapids vs Panama City?
The HUD Fair Market Rent for a 2-bedroom in Cedar Rapids is $800/month. In Panama City, a 2-bedroom FMR is $879/month.
How do incomes compare between Cedar Rapids and Panama City?
The median household income in Cedar Rapids is $45,870/year. In Panama City it is $44,385/year. Cedar Rapids has the higher median income.
What is the studio rent in Cedar Rapids vs Panama City?
A studio apartment Fair Market Rent in Cedar Rapids is $530/mo. In Panama City it is $571/mo.