Panama City vs Salem
Fair Market Rent Comparison — HUD 2025 Data
Quick Answer
Panama City is 29% cheaper for renters. A 2-bedroom rents for $879/mo vs $1,137/mo in Salem — saving $3,096/year.
Rent by Unit Size
| Unit Size | Panama City | Salem | Difference |
|---|---|---|---|
| Studio | $571 | $741 | $170 |
| 1 Bedroom | $706 | $913 | $207 |
| 2 Bedrooms | $879 | $1,137 | $258 |
| 3 Bedrooms | $1,032 | $1,411 | $379 |
| 4 Bedrooms | $1,302 | $1,615 | $313 |
| Median Income | $44,385 | $53,953 | $9,568 |
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
Salem
- Studio
- $741/mo
- 1 BR
- $913/mo
- 2 BR
- $1,137/mo
- 3 BR
- $1,411/mo
- 4 BR
- $1,615/mo
- Median Income
- $53,953/yr
Frequently Asked Questions
Is Panama City or Salem cheaper to rent in?
Panama City is cheaper — a 2-bedroom Fair Market Rent is $879/mo vs $1,137/mo in Salem. That's $258/mo or $3,096/year more expensive in Salem (29% higher).
What is the 2-bedroom rent in Panama City vs Salem?
The HUD Fair Market Rent for a 2-bedroom in Panama City is $879/month. In Salem, a 2-bedroom FMR is $1,137/month.
How do incomes compare between Panama City and Salem?
The median household income in Panama City is $44,385/year. In Salem it is $53,953/year. Salem has the higher median income.
What is the studio rent in Panama City vs Salem?
A studio apartment Fair Market Rent in Panama City is $571/mo. In Salem it is $741/mo.