Department of Numbers

Panama City, Florida Home Affordability

The data below measures home affordability for the Panama City-Lynn Haven-Panama City Beach, Florida metropolitan area using price-to-income and price-to-rent metrics.1 The maximum affordable loan amount for the median household income is also calculated. You can also compare Panama City home affordability to other cities.

Panama City, Florida Home Price-to-Income Ratios

The second chart shows a history of the ratio as an index calculated from the Federal Housing Finance Agency's Panama City HPI series. Median household income data for Panama City is from the Census American Community Survey.

Price-to-Income Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Panama City, Florida Home Price-to-Income Ratio History

Date FHFA (Index Ratio)
December 2011 115.9
September 2011 120.6
June 2011 115.5
March 2011 121.7
December 2010 126.6
September 2010 125.3
June 2010 127.8
March 2010 124.9
December 2009 135.4

Panama City, Florida Home Price-to-Rent Ratios

The chart below shows an index of the rent ratio calculated from the metro FHFA HPI series and the Panama City median contract rent data from the Census ACS.

Price-to-Rent Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Panama City, Florida Home Price-to-Rent Ratio History

Date FHFA (Index Ratio)
December 2011 86.3
September 2011 89.8
June 2011 86.0
March 2011 90.6
December 2010 94.3
September 2010 93.3
June 2010 95.2
March 2010 93.0
December 2009 102.7

Panama City, Florida Inferred Affordable Mortgage

The inferred affordable mortgage value is determined by taking the median household income for Panama City, Florida and calculating the mortgage 30% of that income could afford. Traditionally, 30% of income is the maximum amount a homeowner could use towards a home loan. Inferred affordable loan values are calculated from ACS median household income and average monthly mortgage rates.

Inferred Affordable Mortgage

Panama City, Florida Inferred Affordable Mortgage History

Date Inferred Mortgage
January 2012 $237,307
December 2011 $236,160
November 2011 $235,304
October 2011 $233,046
September 2011 $231,929
August 2011 $227,539
July 2011 $220,151
June 2011 $221,184
May 2011 $217,853
April 2011 $212,873
March 2011 $212,873
February 2011 $210,207
January 2011 $214,844

1. Specifically, home prices are from the non seasonally adjusted FHFA all-transactions quarterly series. Dollar ratios are calculated using NAR metro prices when available. Rent and income data are from the Census ACS and are carried forward into the following year prior to release of the new data. ↩

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