Metro area index
Home appreciation in the Panama City-Panama City Beach, FL metro area
FHFA HPI® data shows the Panama City-Panama City Beach, FL metro area's all-transactions index changed +3.1% over the year to Q2 2026, versus +1.4% for Florida and +3.0% for the U.S. That ranks 221st of 410 metro areas and divisions FHFA tracks.
- 1-year change
- +3.1%
- 5-year change
- +41.1%
- Since Q1 1995
- +325%
- Metro rank (1 year)
- 221st
U.S. +3.0%
U.S. +41.3%
U.S. +292%
of 410
Panama City-Panama City Beach, FL vs Florida and the U.S.
FHFA HPI® all-transactions index, rebased so Q1 1995 = 100, through Q2 2026
- Panama City-Panama City Beach, FL: 424.8
- Florida: 500.7
- United States: 391.6
Appreciation by time window
| Window | Metro | FL | U.S. | Gap vs FL | Gap vs U.S. |
|---|---|---|---|---|---|
| 1 year | +3.1% | +1.4% | +3.0% | +1.7 pts | +0.1 pts |
| 3 years | +3.5% | +6.6% | +12.9% | −3.1 pts | −9.4 pts |
| 5 years | +41.1% | +46.0% | +41.3% | −4.9 pts | −0.1 pts |
| 10 years | +108% | +120% | +93.3% | −12.0 pts | +14.6 pts |
| Since Q1 1995 | +325% | +401% | +292% | −75.8 pts | +33.3 pts |
3-digit ZIP regions in the Panama City-Panama City Beach, FL area
Regions with at least 10% of their 2010 population inside the metro, largest overlap first. A 3-digit ZIP region can extend beyond the metro boundary.
| 3-digit ZIP region | State | 1 year | 5 years | Since Q1 1995 | Population in metro |
|---|---|---|---|---|---|
| 324 · Panama City, FL area | FL | +5.7% | +46.4% | +348% | 57% |
Boom, bust, and recovery in Panama City-Panama City Beach, FL area
Panama City-Panama City Beach, FL area's index peaked in Q4 2006, fell 35.8% to its low in Q2 2012, and regained its peak in Q2 2020, about 13.5 years after the top. Today it sits +61.1% versus that 2000s peak. How every state and ZIP region fared
| Area | 2000s peak | Low point | Peak to low | Back to peak | Today vs peak |
|---|---|---|---|---|---|
| Metro | Q4 2006 | Q2 2012 | -35.8% | Q2 2020 (13.5 yrs) | +61.1% |
| FL | Q4 2006 | Q2 2012 | -44.7% | Q1 2020 (13.2 yrs) | +72.0% |
| U.S. | Q1 2007 | Q2 2012 | -19.0% | Q4 2016 (9.8 yrs) | +89.3% |
Appreciation after inflation
Adjusting for consumer price inflation, Panama City-Panama City Beach, FL area's index has changed +91.9% in real terms since Q1 1995. Home prices vs inflation
| Window | Inflation (CPI-U) | Metro after inflation | FL after inflation | U.S. after inflation |
|---|---|---|---|---|
| 1 year | +3.9% | -0.7% | -2.4% | -0.8% |
| 3 years | +9.8% | -5.8% | -2.9% | +2.8% |
| 5 years | +24.0% | +13.8% | +17.7% | +13.9% |
| 10 years | +39.1% | +49.5% | +58.2% | +39.0% |
| Since Q1 1995 | +121% | +91.9% | +126% | +76.8% |
If you bought in the Panama City-Panama City Beach, FL area in…
An example $300,000 purchase grown at the metro index rate to Q2 2026.
| Bought in | Index change | $300,000 then, at the metro rate |
|---|---|---|
| Q2 1995 | +327% | $1,281,182 |
| Q2 2000 | +245% | $1,034,429 |
| Q2 2005 | +82.2% | $546,723 |
| Q2 2010 | +121% | $662,192 |
| Q2 2015 | +125% | $673,565 |
| Q2 2020 | +58.2% | $474,593 |
| Q2 2021 | +41.2% | $423,457 |
| Q2 2023 | +3.5% | $310,427 |
| Q2 2025 | +3.1% | $309,387 |
Frequently asked questions
- How much have home prices risen in the Panama City-Panama City Beach, FL area?
- FHFA HPI® data for the Panama City-Panama City Beach, FL metro area shows changes of +3.1% over one year, +41.1% over five years, and +108% over ten years to Q2 2026, and +325% since Q1 1995.
- Is the Panama City-Panama City Beach, FL area beating the national average?
- Over the past year the metro's index moved +0.1 pts versus the U.S.; over five years the gap is −0.1 pts.
- What area does this metro index cover?
- FHFA computes metro indexes using the counties in each OMB-defined metropolitan statistical area. The index covers the whole area, so individual neighborhoods and homes can differ from it.