3-digit ZIP regional index
Home appreciation in ZIP codes 324xxPanama City, FL area
FHFA HPI® data shows the regional home price index for ZIP codes beginning with 324 changed +5.7% over the year to Q2 2026, compared with +1.4% for Florida and +3.0% for the United States.
The region covers ZIP codes 32401–32466. Most of its 2010 population lived in Bay County (50%), Jackson County (15%), Walton County (14%). Communities in the region include Lynn Haven, Callaway, Upper Grand Lagoon, Panama City Beach, Springfield. This is a regional index, not a ZIP5, street, or individual-home estimate.
- 1-year change
- +5.7%
- 5-year change
- +46.4%
- Since Q1 1995
- +348%
- National rank (1 year)
- 182nd
Year to Q2 2026
vs U.S. +41.3%
vs U.S. +292%
of 882 ZIP3 regions
ZIP3 324 vs Florida and the U.S.
FHFA HPI® all-transactions index, rebased so Q1 1995 = 100, through Q2 2026
- ZIP3 324: 448.0
- Florida: 500.7
- Panama City-Panama City Beach, FL metro: 424.8
- United States: 391.6
Want a different starting year? Rebase this chart or compare with another ZIP3.
Appreciation by time window
| Window | ZIP3 324 | FL | U.S. | Gap vs FL | Gap vs U.S. |
|---|---|---|---|---|---|
| 1 year | +5.7% | +1.4% | +3.0% | +4.3 pts | +2.7 pts |
| 3 years | +8.4% | +6.6% | +12.9% | +1.8 pts | −4.4 pts |
| 5 years | +46.4% | +46.0% | +41.3% | +0.4 pts | +5.1 pts |
| 10 years | +115% | +120% | +93.3% | −4.8 pts | +21.9 pts |
| Since Q1 1995 | +348% | +401% | +292% | −52.7 pts | +56.4 pts |
If you bought in ZIP3 324 in…
Applying the regional index change from the same quarter of each year to Q2 2026 to an example $300,000 purchase price. Individual homes can differ widely from the regional average.
| Bought in | Index change | $300,000 then, at the regional rate |
|---|---|---|
| Q2 1995 | +345% | $1,334,936 |
| Q2 2000 | +260% | $1,081,419 |
| Q2 2005 | +91.3% | $573,842 |
| Q2 2010 | +131% | $694,045 |
| Q2 2015 | +131% | $692,793 |
| Q2 2020 | +65.1% | $495,385 |
| Q2 2021 | +46.4% | $439,263 |
| Q2 2023 | +8.4% | $325,253 |
| Q2 2025 | +5.7% | $317,102 |
How ZIP3 324 ranks
Over the past year ZIP3 324 ranks 182nd of 882 3-digit ZIP regions nationally and 1st of 25 in Florida. Its one-year change is +2.7 pts versus the nation and +4.3 pts versus Florida. Rank 1 is the strongest appreciation.
| Window | National rank | Rank in Florida |
|---|---|---|
| 1 year | 182nd of 882 | 1st of 25 |
| 3 years | 759th of 882 | 11th of 25 |
| 5 years | 371st of 882 | 10th of 25 |
| 10 years | 134th of 882 | 17th of 25 |
| Since Q1 1995 | 175th of 879 | 16th of 25 |
Boom, bust, and recovery in ZIP3 324
ZIP3 324's index peaked in Q4 2006, fell 36.6% to its low in Q2 2012, and regained its peak in Q2 2020, about 13.5 years after the top. Today it sits +66.5% 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 |
|---|---|---|---|---|---|
| ZIP3 324 | Q4 2006 | Q2 2012 | -36.6% | Q2 2020 (13.5 yrs) | +66.5% |
| FL | Q4 2006 | Q2 2012 | -44.7% | Q1 2020 (13.2 yrs) | +72.0% |
| Metro | Q4 2006 | Q2 2012 | -35.8% | Q2 2020 (13.5 yrs) | +61.1% |
| U.S. | Q1 2007 | Q2 2012 | -19.0% | Q4 2016 (9.8 yrs) | +89.3% |
Appreciation after inflation
Adjusting for consumer price inflation, ZIP3 324's index has changed +102% in real terms since Q1 1995. Home prices vs inflation
| Window | Inflation (CPI-U) | ZIP3 324 after inflation | FL after inflation | Metro after inflation | U.S. after inflation |
|---|---|---|---|---|---|
| 1 year | +3.9% | +1.8% | -2.4% | -0.7% | -0.8% |
| 3 years | +9.8% | -1.3% | -2.9% | -5.8% | +2.8% |
| 5 years | +24.0% | +18.1% | +17.7% | +13.8% | +13.9% |
| 10 years | +39.1% | +54.7% | +58.2% | +49.5% | +39.0% |
| Since Q1 1995 | +121% | +102% | +126% | +91.9% | +76.8% |
Estimate appreciation for a home in ZIP3 324
Regional estimate
$645,569
- Estimated gain
- $345,569
- Index change
- +115%
- Start index
- 208.17
- End index
- 447.96
ZIP3 324 (Panama City, FL area), Q2 2016 to Q2 2026. Index type: Native 3-Digit ZIP index.
Nearby 3-digit ZIP regions
| 3-digit ZIP region | State | 1 year | 5 years | Since Q1 1995 |
|---|---|---|---|---|
| 363 · Dothan, AL area | AL | -1.1% | +41.4% | +176% |
| 398 · Bainbridge, GA area | GA | +3.4% | +56.5% | +283% |
| 323 · Tallahassee, FL area | FL | +5.0% | +42.3% | +251% |
| 325 · Pensacola, FL area | FL | +1.7% | +40.8% | +324% |
| 364 · Andalusia, AL area | AL | +5.2% | +49.8% | +237% |
| 317 · Albany, GA area | GA | +4.6% | +48.5% | +202% |
Recent quarterly index values
| Period | Index |
|---|---|
| Q2 2026 | 447.96 |
| Q1 2026 | 434.03 |
| Q4 2025 | 428.81 |
| Q3 2025 | 431.90 |
| Q2 2025 | 423.80 |
| Q1 2025 | 411.98 |
| Q4 2024 | 416.56 |
| Q3 2024 | 410.25 |
| Q2 2024 | 407.91 |
| Q1 2024 | 409.98 |
| Q4 2023 | 409.75 |
| Q3 2023 | 419.59 |
Frequently asked questions
- How much have home prices risen in ZIP codes starting with 324?
- Based on FHFA HPI® data for 3-digit ZIP region 324, the regional index changed +5.7% over the year to Q2 2026, +46.4% over five years, +115% over ten years, and +348% since Q1 1995.
- Is ZIP3 324 appreciating faster than Florida and the U.S.?
- Over the past year the region's index +5.7% compares with +1.4% for Florida and +3.0% for the U.S., a gap of +2.7 pts versus the nation. Over five years the gap versus the nation is +5.1 pts.
- Which ZIP codes are in 3-digit ZIP region 324?
- All ZIP codes that begin with 324. Census 2010 ZIP Code Tabulation Areas in this region run from 32401 to 32466 (44 areas). FHFA publishes one index for the whole 3-digit region, not for each 5-digit ZIP code.
- Can I use this to value my home?
- No. The FHFA HPI® is a broad regional index of average price movement. It is not an appraisal, tax assessment, or automated valuation of any individual property. Use it as general context alongside local sales and a professional opinion.