Evansville vs Panama City
Fair Market Rent Comparison — HUD 2025 Data
Quick Answer
Evansville is 27% cheaper for renters. A 2-bedroom rents for $694/mo vs $879/mo in Panama City — saving $2,220/year.
Rent by Unit Size
| Unit Size | Evansville | Panama City | Difference |
|---|---|---|---|
| Studio | $442 | $571 | $129 |
| 1 Bedroom | $564 | $706 | $142 |
| 2 Bedrooms | $694 | $879 | $185 |
| 3 Bedrooms | $844 | $1,032 | $188 |
| 4 Bedrooms | $981 | $1,302 | $321 |
| Median Income | $35,376 | $44,385 | $9,009 |
Evansville
- Studio
- $442/mo
- 1 BR
- $564/mo
- 2 BR
- $694/mo
- 3 BR
- $844/mo
- 4 BR
- $981/mo
- Median Income
- $35,376/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 Evansville or Panama City cheaper to rent in?
Evansville is cheaper — a 2-bedroom Fair Market Rent is $694/mo vs $879/mo in Panama City. That's $185/mo or $2,220/year more expensive in Panama City (27% higher).
What is the 2-bedroom rent in Evansville vs Panama City?
The HUD Fair Market Rent for a 2-bedroom in Evansville is $694/month. In Panama City, a 2-bedroom FMR is $879/month.
How do incomes compare between Evansville and Panama City?
The median household income in Evansville is $35,376/year. In Panama City it is $44,385/year. Panama City has the higher median income.
What is the studio rent in Evansville vs Panama City?
A studio apartment Fair Market Rent in Evansville is $442/mo. In Panama City it is $571/mo.