ZIP Code 32408 — Panama City Beach, FL Home Prices (2026)
The typical home in ZIP 32408 (Panama City Beach, Florida) is worth about $370,000 at roughly $367 per square foot — 6% more affordable than the Panama City Beach median and 26% more expensive than the typical U.S. home.
How 32408 compares
ZIP 32408 is one of the more affordable ZIP codes in Panama City Beach: its typical home value of $370,000 ranks #3 of the 3 Panama City Beach ZIP codes we track (the citywide range runs from $370,000 in 32408 to $471,000 in 32413). Per square foot it costs about $367, against $367 for Panama City Beach as a whole, $229 for Florida, and $195 nationally.
| Area | Typical value | $ / sq ft |
|---|---|---|
| ZIP 32408 | $370,000 | $367 |
| Panama City Beach, FL | $394,000 | $367 |
| Florida | $349,000 | $229 |
| United States | $294,000 | $195 |
Home value by size in 32408
Using this ZIP’s rate of about $367 per square foot. Condition, lot, and the exact street move these meaningfully — use the estimator below for a home-specific figure.
| Home size | Estimated value |
|---|---|
| 1,000 sq ft | $367,000 |
| 1,500 sq ft | $550,500 |
| 2,000 sq ft | $734,000 |
| 2,500 sq ft | $917,500 |
| 3,000 sq ft | $1,101,000 |
Salary needed to buy a home in ZIP 32408
To buy the typical $370,000 home in ZIP 32408 with 20% down, you need a household income of roughly $101,000 a year (about $2,350 a month for the mortgage, taxes, and insurance). With 10% down the bar rises to about $120,000, because the loan is bigger and mortgage insurance kicks in.
| Down payment | Cash down | Monthly payment | Income needed |
|---|---|---|---|
| 5% (+PMI) | $18,500 | $2,920/mo | $125,000/yr |
| 10% (+PMI) | $37,000 | $2,790/mo | $120,000/yr |
| 20% | $74,000 | $2,350/mo | $101,000/yr |
Assumes a 30-year fixed mortgage at 6.5%, property tax at 1.1% and insurance at 0.45% of value per year, PMI of 0.75% on loans with less than 20% down, and the standard 28% housing-to-income rule. Your rate, taxes, and HOA will move these — run your own numbers in the mortgage calculator.
What your budget buys in ZIP 32408
At about $367 per square foot, here is roughly how much home different budgets get you in ZIP 32408:
| Budget | Approx. size | What that looks like locally |
|---|---|---|
| $200k | 540 sq ft | below the local median — condos, smaller or older homes |
| $250k | 680 sq ft | below the local median — condos, smaller or older homes |
| $300k | 820 sq ft | around the typical home here |
| $400k | 1090 sq ft | around the typical home here |
| $500k | 1360 sq ft | above the median — larger homes or the pricier ZIPs |
Wondering where that budget goes further? The relocation calculator ranks hundreds of U.S. cities by what the same money buys — it opens pre-filled with a typical 32408 home.
Estimate a specific home in 32408
The estimator below is pre-set to ZIP 32408 — pick your home’s size for an instant ballpark, then open the full calculator to adjust beds, baths, and condition.
All Panama City Beach ZIP codes by home value
Where 32408 sits among Panama City Beach’s 3 ZIP codes:
ZIP 32408 home prices: frequently asked
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See the full Panama City Beach home values page, all Florida cities, or price per square foot by ZIP code nationwide.
Directional estimates from public market data (Realtor.com & Zillow research), not appraisals. A single ZIP contains very different homes; actual values vary and change over time.