Panama City vs Tallahassee
Fair Market Rent Comparison — HUD 2025 Data
Quick Answer
Panama City is 13% cheaper for renters. A 2-bedroom rents for $879/mo vs $989/mo in Tallahassee — saving $1,320/year.
Rent by Unit Size
| Unit Size | Panama City | Tallahassee | Difference |
|---|---|---|---|
| Studio | $571 | $625 | $54 |
| 1 Bedroom | $706 | $784 | $78 |
| 2 Bedrooms | $879 | $989 | $110 |
| 3 Bedrooms | $1,032 | $1,193 | $161 |
| 4 Bedrooms | $1,302 | $1,420 | $118 |
| Median Income | $44,385 | $57,994 | $13,609 |
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
Tallahassee
- Studio
- $625/mo
- 1 BR
- $784/mo
- 2 BR
- $989/mo
- 3 BR
- $1,193/mo
- 4 BR
- $1,420/mo
- Median Income
- $57,994/yr
Frequently Asked Questions
Is Panama City or Tallahassee cheaper to rent in?
Panama City is cheaper — a 2-bedroom Fair Market Rent is $879/mo vs $989/mo in Tallahassee. That's $110/mo or $1,320/year more expensive in Tallahassee (13% higher).
What is the 2-bedroom rent in Panama City vs Tallahassee?
The HUD Fair Market Rent for a 2-bedroom in Panama City is $879/month. In Tallahassee, a 2-bedroom FMR is $989/month.
How do incomes compare between Panama City and Tallahassee?
The median household income in Panama City is $44,385/year. In Tallahassee it is $57,994/year. Tallahassee has the higher median income.
What is the studio rent in Panama City vs Tallahassee?
A studio apartment Fair Market Rent in Panama City is $571/mo. In Tallahassee it is $625/mo.