Panama City vs Raleigh-Cary
Fair Market Rent Comparison — HUD 2025 Data
Quick Answer
Panama City is 25% cheaper for renters. A 2-bedroom rents for $879/mo vs $1,097/mo in Raleigh-Cary — saving $2,616/year.
Rent by Unit Size
| Unit Size | Panama City | Raleigh-Cary | Difference |
|---|---|---|---|
| Studio | $571 | $760 | $189 |
| 1 Bedroom | $706 | $928 | $222 |
| 2 Bedrooms | $879 | $1,097 | $218 |
| 3 Bedrooms | $1,032 | $1,435 | $403 |
| 4 Bedrooms | $1,302 | $1,556 | $254 |
| Median Income | $44,385 | $70,678 | $26,293 |
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
Raleigh-Cary
- Studio
- $760/mo
- 1 BR
- $928/mo
- 2 BR
- $1,097/mo
- 3 BR
- $1,435/mo
- 4 BR
- $1,556/mo
- Median Income
- $70,678/yr
Frequently Asked Questions
Is Panama City or Raleigh-Cary cheaper to rent in?
Panama City is cheaper — a 2-bedroom Fair Market Rent is $879/mo vs $1,097/mo in Raleigh-Cary. That's $218/mo or $2,616/year more expensive in Raleigh-Cary (25% higher).
What is the 2-bedroom rent in Panama City vs Raleigh-Cary?
The HUD Fair Market Rent for a 2-bedroom in Panama City is $879/month. In Raleigh-Cary, a 2-bedroom FMR is $1,097/month.
How do incomes compare between Panama City and Raleigh-Cary?
The median household income in Panama City is $44,385/year. In Raleigh-Cary it is $70,678/year. Raleigh-Cary has the higher median income.
What is the studio rent in Panama City vs Raleigh-Cary?
A studio apartment Fair Market Rent in Panama City is $571/mo. In Raleigh-Cary it is $760/mo.