Panama City vs Salt Lake City
Fair Market Rent Comparison — HUD 2025 Data
Quick Answer
Panama City is 28% cheaper for renters. A 2-bedroom rents for $879/mo vs $1,127/mo in Salt Lake City — saving $2,976/year.
Rent by Unit Size
| Unit Size | Panama City | Salt Lake City | Difference |
|---|---|---|---|
| Studio | $571 | $754 | $183 |
| 1 Bedroom | $706 | $912 | $206 |
| 2 Bedrooms | $879 | $1,127 | $248 |
| 3 Bedrooms | $1,032 | $1,352 | $320 |
| 4 Bedrooms | $1,302 | $1,632 | $330 |
| Median Income | $44,385 | $77,224 | $32,839 |
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
Salt Lake City
- Studio
- $754/mo
- 1 BR
- $912/mo
- 2 BR
- $1,127/mo
- 3 BR
- $1,352/mo
- 4 BR
- $1,632/mo
- Median Income
- $77,224/yr
Frequently Asked Questions
Is Panama City or Salt Lake City cheaper to rent in?
Panama City is cheaper — a 2-bedroom Fair Market Rent is $879/mo vs $1,127/mo in Salt Lake City. That's $248/mo or $2,976/year more expensive in Salt Lake City (28% higher).
What is the 2-bedroom rent in Panama City vs Salt Lake City?
The HUD Fair Market Rent for a 2-bedroom in Panama City is $879/month. In Salt Lake City, a 2-bedroom FMR is $1,127/month.
How do incomes compare between Panama City and Salt Lake City?
The median household income in Panama City is $44,385/year. In Salt Lake City it is $77,224/year. Salt Lake City has the higher median income.
What is the studio rent in Panama City vs Salt Lake City?
A studio apartment Fair Market Rent in Panama City is $571/mo. In Salt Lake City it is $754/mo.