Panama City vs South Bend-Mishawaka
Fair Market Rent Comparison — HUD 2025 Data
Quick Answer
South Bend-Mishawaka is 21% cheaper for renters. A 2-bedroom rents for $724/mo vs $879/mo in Panama City — saving $1,860/year.
Rent by Unit Size
| Unit Size | Panama City | South Bend-Mishawaka | Difference |
|---|---|---|---|
| Studio | $571 | $500 | $71 |
| 1 Bedroom | $706 | $609 | $97 |
| 2 Bedrooms | $879 | $724 | $155 |
| 3 Bedrooms | $1,032 | $947 | $85 |
| 4 Bedrooms | $1,302 | $1,108 | $194 |
| Median Income | $44,385 | $45,155 | $770 |
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
South Bend-Mishawaka
- Studio
- $500/mo
- 1 BR
- $609/mo
- 2 BR
- $724/mo
- 3 BR
- $947/mo
- 4 BR
- $1,108/mo
- Median Income
- $45,155/yr
Frequently Asked Questions
Is Panama City or South Bend-Mishawaka cheaper to rent in?
South Bend-Mishawaka is cheaper — a 2-bedroom Fair Market Rent is $724/mo vs $879/mo in Panama City. That's $155/mo or $1,860/year more expensive in Panama City (21% higher).
What is the 2-bedroom rent in Panama City vs South Bend-Mishawaka?
The HUD Fair Market Rent for a 2-bedroom in Panama City is $879/month. In South Bend-Mishawaka, a 2-bedroom FMR is $724/month.
How do incomes compare between Panama City and South Bend-Mishawaka?
The median household income in Panama City is $44,385/year. In South Bend-Mishawaka it is $45,155/year. South Bend-Mishawaka has the higher median income.
What is the studio rent in Panama City vs South Bend-Mishawaka?
A studio apartment Fair Market Rent in Panama City is $571/mo. In South Bend-Mishawaka it is $500/mo.