Panama City vs Virginia Beach-Norfolk-Newport News
Fair Market Rent Comparison — HUD 2025 Data
Quick Answer
Panama City is 13% cheaper for renters. A 2-bedroom rents for $879/mo vs $994/mo in Virginia Beach-Norfolk-Newport News — saving $1,380/year.
Rent by Unit Size
| Unit Size | Panama City | Virginia Beach-Norfolk-Newport News | Difference |
|---|---|---|---|
| Studio | $571 | $659 | $88 |
| 1 Bedroom | $706 | $824 | $118 |
| 2 Bedrooms | $879 | $994 | $115 |
| 3 Bedrooms | $1,032 | $1,234 | $202 |
| 4 Bedrooms | $1,302 | $1,448 | $146 |
| Median Income | $44,385 | $57,948 | $13,563 |
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
Virginia Beach-Norfolk-Newport News
- Studio
- $659/mo
- 1 BR
- $824/mo
- 2 BR
- $994/mo
- 3 BR
- $1,234/mo
- 4 BR
- $1,448/mo
- Median Income
- $57,948/yr
Frequently Asked Questions
Is Panama City or Virginia Beach-Norfolk-Newport News cheaper to rent in?
Panama City is cheaper — a 2-bedroom Fair Market Rent is $879/mo vs $994/mo in Virginia Beach-Norfolk-Newport News. That's $115/mo or $1,380/year more expensive in Virginia Beach-Norfolk-Newport News (13% higher).
What is the 2-bedroom rent in Panama City vs Virginia Beach-Norfolk-Newport News?
The HUD Fair Market Rent for a 2-bedroom in Panama City is $879/month. In Virginia Beach-Norfolk-Newport News, a 2-bedroom FMR is $994/month.
How do incomes compare between Panama City and Virginia Beach-Norfolk-Newport News?
The median household income in Panama City is $44,385/year. In Virginia Beach-Norfolk-Newport News it is $57,948/year. Virginia Beach-Norfolk-Newport News has the higher median income.
What is the studio rent in Panama City vs Virginia Beach-Norfolk-Newport News?
A studio apartment Fair Market Rent in Panama City is $571/mo. In Virginia Beach-Norfolk-Newport News it is $659/mo.