Cheyenne vs Panama City
Fair Market Rent Comparison — HUD 2025 Data
Quick Answer
Panama City is 3% cheaper for renters. A 2-bedroom rents for $879/mo vs $906/mo in Cheyenne — saving $324/year.
Rent by Unit Size
| Unit Size | Cheyenne | Panama City | Difference |
|---|---|---|---|
| Studio | $586 | $571 | $15 |
| 1 Bedroom | $741 | $706 | $35 |
| 2 Bedrooms | $906 | $879 | $27 |
| 3 Bedrooms | $1,120 | $1,032 | $88 |
| 4 Bedrooms | $1,322 | $1,302 | $20 |
| Median Income | $46,984 | $44,385 | $2,599 |
Cheyenne
- Studio
- $586/mo
- 1 BR
- $741/mo
- 2 BR
- $906/mo
- 3 BR
- $1,120/mo
- 4 BR
- $1,322/mo
- Median Income
- $46,984/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 Cheyenne or Panama City cheaper to rent in?
Panama City is cheaper — a 2-bedroom Fair Market Rent is $879/mo vs $906/mo in Cheyenne. That's $27/mo or $324/year more expensive in Cheyenne (3% higher).
What is the 2-bedroom rent in Cheyenne vs Panama City?
The HUD Fair Market Rent for a 2-bedroom in Cheyenne is $906/month. In Panama City, a 2-bedroom FMR is $879/month.
How do incomes compare between Cheyenne and Panama City?
The median household income in Cheyenne is $46,984/year. In Panama City it is $44,385/year. Cheyenne has the higher median income.
What is the studio rent in Cheyenne vs Panama City?
A studio apartment Fair Market Rent in Cheyenne is $586/mo. In Panama City it is $571/mo.