Madison vs Panama City
Fair Market Rent Comparison — HUD 2025 Data
Quick Answer
Panama City is 18% cheaper for renters. A 2-bedroom rents for $879/mo vs $1,038/mo in Madison — saving $1,908/year.
Rent by Unit Size
| Unit Size | Madison | Panama City | Difference |
|---|---|---|---|
| Studio | $676 | $571 | $105 |
| 1 Bedroom | $827 | $706 | $121 |
| 2 Bedrooms | $1,038 | $879 | $159 |
| 3 Bedrooms | $1,222 | $1,032 | $190 |
| 4 Bedrooms | $1,400 | $1,302 | $98 |
| Median Income | $64,691 | $44,385 | $20,306 |
Madison
- Studio
- $676/mo
- 1 BR
- $827/mo
- 2 BR
- $1,038/mo
- 3 BR
- $1,222/mo
- 4 BR
- $1,400/mo
- Median Income
- $64,691/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 Madison or Panama City cheaper to rent in?
Panama City is cheaper — a 2-bedroom Fair Market Rent is $879/mo vs $1,038/mo in Madison. That's $159/mo or $1,908/year more expensive in Madison (18% higher).
What is the 2-bedroom rent in Madison vs Panama City?
The HUD Fair Market Rent for a 2-bedroom in Madison is $1,038/month. In Panama City, a 2-bedroom FMR is $879/month.
How do incomes compare between Madison and Panama City?
The median household income in Madison is $64,691/year. In Panama City it is $44,385/year. Madison has the higher median income.
What is the studio rent in Madison vs Panama City?
A studio apartment Fair Market Rent in Madison is $676/mo. In Panama City it is $571/mo.