Panama City vs Springfield
Fair Market Rent Comparison — HUD 2025 Data
Quick Answer
Springfield is 22% cheaper for renters. A 2-bedroom rents for $720/mo vs $879/mo in Panama City — saving $1,908/year.
Rent by Unit Size
| Unit Size | Panama City | Springfield | Difference |
|---|---|---|---|
| Studio | $571 | $490 | $81 |
| 1 Bedroom | $706 | $583 | $123 |
| 2 Bedrooms | $879 | $720 | $159 |
| 3 Bedrooms | $1,032 | $925 | $107 |
| 4 Bedrooms | $1,302 | $987 | $315 |
| Median Income | $44,385 | $37,539 | $6,846 |
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
Springfield
- Studio
- $490/mo
- 1 BR
- $583/mo
- 2 BR
- $720/mo
- 3 BR
- $925/mo
- 4 BR
- $987/mo
- Median Income
- $37,539/yr
Frequently Asked Questions
Is Panama City or Springfield cheaper to rent in?
Springfield is cheaper — a 2-bedroom Fair Market Rent is $720/mo vs $879/mo in Panama City. That's $159/mo or $1,908/year more expensive in Panama City (22% higher).
What is the 2-bedroom rent in Panama City vs Springfield?
The HUD Fair Market Rent for a 2-bedroom in Panama City is $879/month. In Springfield, a 2-bedroom FMR is $720/month.
How do incomes compare between Panama City and Springfield?
The median household income in Panama City is $44,385/year. In Springfield it is $37,539/year. Panama City has the higher median income.
What is the studio rent in Panama City vs Springfield?
A studio apartment Fair Market Rent in Panama City is $571/mo. In Springfield it is $490/mo.