Lubbock vs Panama City
Fair Market Rent Comparison — HUD 2025 Data
Quick Answer
Lubbock is 21% cheaper for renters. A 2-bedroom rents for $727/mo vs $879/mo in Panama City — saving $1,824/year.
Rent by Unit Size
| Unit Size | Lubbock | Panama City | Difference |
|---|---|---|---|
| Studio | $467 | $571 | $104 |
| 1 Bedroom | $585 | $706 | $121 |
| 2 Bedrooms | $727 | $879 | $152 |
| 3 Bedrooms | $896 | $1,032 | $136 |
| 4 Bedrooms | $1,003 | $1,302 | $299 |
| Median Income | $49,610 | $44,385 | $5,225 |
Lubbock
- Studio
- $467/mo
- 1 BR
- $585/mo
- 2 BR
- $727/mo
- 3 BR
- $896/mo
- 4 BR
- $1,003/mo
- Median Income
- $49,610/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 Lubbock or Panama City cheaper to rent in?
Lubbock is cheaper — a 2-bedroom Fair Market Rent is $727/mo vs $879/mo in Panama City. That's $152/mo or $1,824/year more expensive in Panama City (21% higher).
What is the 2-bedroom rent in Lubbock vs Panama City?
The HUD Fair Market Rent for a 2-bedroom in Lubbock is $727/month. In Panama City, a 2-bedroom FMR is $879/month.
How do incomes compare between Lubbock and Panama City?
The median household income in Lubbock is $49,610/year. In Panama City it is $44,385/year. Lubbock has the higher median income.
What is the studio rent in Lubbock vs Panama City?
A studio apartment Fair Market Rent in Lubbock is $467/mo. In Panama City it is $571/mo.