Panama City vs Wilmington
Fair Market Rent Comparison — HUD 2025 Data
Quick Answer
Panama City is 16% cheaper for renters. A 2-bedroom rents for $879/mo vs $1,024/mo in Wilmington — saving $1,740/year.
Rent by Unit Size
| Unit Size | Panama City | Wilmington | Difference |
|---|---|---|---|
| Studio | $571 | $656 | $85 |
| 1 Bedroom | $706 | $838 | $132 |
| 2 Bedrooms | $879 | $1,024 | $145 |
| 3 Bedrooms | $1,032 | $1,314 | $282 |
| 4 Bedrooms | $1,302 | $1,459 | $157 |
| Median Income | $44,385 | $52,995 | $8,610 |
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
Wilmington
- Studio
- $656/mo
- 1 BR
- $838/mo
- 2 BR
- $1,024/mo
- 3 BR
- $1,314/mo
- 4 BR
- $1,459/mo
- Median Income
- $52,995/yr
Frequently Asked Questions
Is Panama City or Wilmington cheaper to rent in?
Panama City is cheaper — a 2-bedroom Fair Market Rent is $879/mo vs $1,024/mo in Wilmington. That's $145/mo or $1,740/year more expensive in Wilmington (16% higher).
What is the 2-bedroom rent in Panama City vs Wilmington?
The HUD Fair Market Rent for a 2-bedroom in Panama City is $879/month. In Wilmington, a 2-bedroom FMR is $1,024/month.
How do incomes compare between Panama City and Wilmington?
The median household income in Panama City is $44,385/year. In Wilmington it is $52,995/year. Wilmington has the higher median income.
What is the studio rent in Panama City vs Wilmington?
A studio apartment Fair Market Rent in Panama City is $571/mo. In Wilmington it is $656/mo.