Indianapolis-Carmel-Anderson vs Panama City
Fair Market Rent Comparison — HUD 2025 Data
Quick Answer
Panama City is 4% cheaper for renters. A 2-bedroom rents for $879/mo vs $916/mo in Indianapolis-Carmel-Anderson — saving $444/year.
Rent by Unit Size
| Unit Size | Indianapolis-Carmel-Anderson | Panama City | Difference |
|---|---|---|---|
| Studio | $568 | $571 | $3 |
| 1 Bedroom | $718 | $706 | $12 |
| 2 Bedrooms | $916 | $879 | $37 |
| 3 Bedrooms | $1,096 | $1,032 | $64 |
| 4 Bedrooms | $1,191 | $1,302 | $111 |
| Median Income | $51,092 | $44,385 | $6,707 |
Indianapolis-Carmel-Anderson
- Studio
- $568/mo
- 1 BR
- $718/mo
- 2 BR
- $916/mo
- 3 BR
- $1,096/mo
- 4 BR
- $1,191/mo
- Median Income
- $51,092/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 Indianapolis-Carmel-Anderson or Panama City cheaper to rent in?
Panama City is cheaper — a 2-bedroom Fair Market Rent is $879/mo vs $916/mo in Indianapolis-Carmel-Anderson. That's $37/mo or $444/year more expensive in Indianapolis-Carmel-Anderson (4% higher).
What is the 2-bedroom rent in Indianapolis-Carmel-Anderson vs Panama City?
The HUD Fair Market Rent for a 2-bedroom in Indianapolis-Carmel-Anderson is $916/month. In Panama City, a 2-bedroom FMR is $879/month.
How do incomes compare between Indianapolis-Carmel-Anderson and Panama City?
The median household income in Indianapolis-Carmel-Anderson is $51,092/year. In Panama City it is $44,385/year. Indianapolis-Carmel-Anderson has the higher median income.
What is the studio rent in Indianapolis-Carmel-Anderson vs Panama City?
A studio apartment Fair Market Rent in Indianapolis-Carmel-Anderson is $568/mo. In Panama City it is $571/mo.