Cleveland-Elyria vs Panama City
Fair Market Rent Comparison — HUD 2025 Data
Quick Answer
Cleveland-Elyria is 4% cheaper for renters. A 2-bedroom rents for $844/mo vs $879/mo in Panama City — saving $420/year.
Rent by Unit Size
| Unit Size | Cleveland-Elyria | Panama City | Difference |
|---|---|---|---|
| Studio | $566 | $571 | $5 |
| 1 Bedroom | $677 | $706 | $29 |
| 2 Bedrooms | $844 | $879 | $35 |
| 3 Bedrooms | $1,081 | $1,032 | $49 |
| 4 Bedrooms | $1,197 | $1,302 | $105 |
| Median Income | $59,020 | $44,385 | $14,635 |
Cleveland-Elyria
- Studio
- $566/mo
- 1 BR
- $677/mo
- 2 BR
- $844/mo
- 3 BR
- $1,081/mo
- 4 BR
- $1,197/mo
- Median Income
- $59,020/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 Cleveland-Elyria or Panama City cheaper to rent in?
Cleveland-Elyria is cheaper — a 2-bedroom Fair Market Rent is $844/mo vs $879/mo in Panama City. That's $35/mo or $420/year more expensive in Panama City (4% higher).
What is the 2-bedroom rent in Cleveland-Elyria vs Panama City?
The HUD Fair Market Rent for a 2-bedroom in Cleveland-Elyria is $844/month. In Panama City, a 2-bedroom FMR is $879/month.
How do incomes compare between Cleveland-Elyria and Panama City?
The median household income in Cleveland-Elyria is $59,020/year. In Panama City it is $44,385/year. Cleveland-Elyria has the higher median income.
What is the studio rent in Cleveland-Elyria vs Panama City?
A studio apartment Fair Market Rent in Cleveland-Elyria is $566/mo. In Panama City it is $571/mo.