Knoxville vs Panama City
Fair Market Rent Comparison — HUD 2025 Data
Quick Answer
Knoxville is 5% cheaper for renters. A 2-bedroom rents for $836/mo vs $879/mo in Panama City — saving $516/year.
Rent by Unit Size
| Unit Size | Knoxville | Panama City | Difference |
|---|---|---|---|
| Studio | $566 | $571 | $5 |
| 1 Bedroom | $693 | $706 | $13 |
| 2 Bedrooms | $836 | $879 | $43 |
| 3 Bedrooms | $1,106 | $1,032 | $74 |
| 4 Bedrooms | $1,220 | $1,302 | $82 |
| Median Income | $54,020 | $44,385 | $9,635 |
Knoxville
- Studio
- $566/mo
- 1 BR
- $693/mo
- 2 BR
- $836/mo
- 3 BR
- $1,106/mo
- 4 BR
- $1,220/mo
- Median Income
- $54,020/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 Knoxville or Panama City cheaper to rent in?
Knoxville is cheaper — a 2-bedroom Fair Market Rent is $836/mo vs $879/mo in Panama City. That's $43/mo or $516/year more expensive in Panama City (5% higher).
What is the 2-bedroom rent in Knoxville vs Panama City?
The HUD Fair Market Rent for a 2-bedroom in Knoxville is $836/month. In Panama City, a 2-bedroom FMR is $879/month.
How do incomes compare between Knoxville and Panama City?
The median household income in Knoxville is $54,020/year. In Panama City it is $44,385/year. Knoxville has the higher median income.
What is the studio rent in Knoxville vs Panama City?
A studio apartment Fair Market Rent in Knoxville is $566/mo. In Panama City it is $571/mo.