Grand Rapids-Kentwood vs Panama City
Fair Market Rent Comparison — HUD 2025 Data
Quick Answer
Panama City is 8% cheaper for renters. A 2-bedroom rents for $879/mo vs $945/mo in Grand Rapids-Kentwood — saving $792/year.
Rent by Unit Size
| Unit Size | Grand Rapids-Kentwood | Panama City | Difference |
|---|---|---|---|
| Studio | $583 | $571 | $12 |
| 1 Bedroom | $741 | $706 | $35 |
| 2 Bedrooms | $945 | $879 | $66 |
| 3 Bedrooms | $1,145 | $1,032 | $113 |
| 4 Bedrooms | $1,345 | $1,302 | $43 |
| Median Income | $58,686 | $44,385 | $14,301 |
Grand Rapids-Kentwood
- Studio
- $583/mo
- 1 BR
- $741/mo
- 2 BR
- $945/mo
- 3 BR
- $1,145/mo
- 4 BR
- $1,345/mo
- Median Income
- $58,686/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 Grand Rapids-Kentwood or Panama City cheaper to rent in?
Panama City is cheaper — a 2-bedroom Fair Market Rent is $879/mo vs $945/mo in Grand Rapids-Kentwood. That's $66/mo or $792/year more expensive in Grand Rapids-Kentwood (8% higher).
What is the 2-bedroom rent in Grand Rapids-Kentwood vs Panama City?
The HUD Fair Market Rent for a 2-bedroom in Grand Rapids-Kentwood is $945/month. In Panama City, a 2-bedroom FMR is $879/month.
How do incomes compare between Grand Rapids-Kentwood and Panama City?
The median household income in Grand Rapids-Kentwood is $58,686/year. In Panama City it is $44,385/year. Grand Rapids-Kentwood has the higher median income.
What is the studio rent in Grand Rapids-Kentwood vs Panama City?
A studio apartment Fair Market Rent in Grand Rapids-Kentwood is $583/mo. In Panama City it is $571/mo.