ZIP Code 32401 — Panama City, FL Home Prices (2026)
The typical home in ZIP 32401 (Panama City, Florida) is worth about $218,000 at roughly $206 per square foot — 24% more affordable than the Panama City median and 26% more affordable than the typical U.S. home.
How 32401 compares
ZIP 32401 is one of the more affordable ZIP codes in Panama City: its typical home value of $218,000 ranks #3 of the 3 Panama City ZIP codes we track (the citywide range runs from $218,000 in 32401 to $296,000 in 32405). Per square foot it costs about $206, against $203 for Panama City as a whole, $229 for Florida, and $195 nationally.
| Area | Typical value | $ / sq ft |
|---|---|---|
| ZIP 32401 | $218,000 | $206 |
| Panama City, FL | $288,000 | $203 |
| Florida | $349,000 | $229 |
| United States | $294,000 | $195 |
Home value by size in 32401
Using this ZIP’s rate of about $206 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 | $206,000 |
| 1,500 sq ft | $309,000 |
| 2,000 sq ft | $412,000 |
| 2,500 sq ft | $515,000 |
| 3,000 sq ft | $618,000 |
Salary needed to buy a home in ZIP 32401
To buy the typical $218,000 home in ZIP 32401 with 20% down, you need a household income of roughly $59,000 a year (about $1,380 a month for the mortgage, taxes, and insurance). With 10% down the bar rises to about $70,000, because the loan is bigger and mortgage insurance kicks in.
| Down payment | Cash down | Monthly payment | Income needed |
|---|---|---|---|
| 5% (+PMI) | $10,900 | $1,720/mo | $74,000/yr |
| 10% (+PMI) | $21,800 | $1,640/mo | $70,000/yr |
| 20% | $43,600 | $1,380/mo | $59,000/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 32401
At about $206 per square foot, here is roughly how much home different budgets get you in ZIP 32401:
| Budget | Approx. size | What that looks like locally |
|---|---|---|
| $150k | 730 sq ft | below the local median — condos, smaller or older homes |
| $200k | 970 sq ft | around the typical home here |
| $250k | 1210 sq ft | around the typical home here |
| $300k | 1460 sq ft | above the median — larger homes or the pricier ZIPs |
| $400k | 1940 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 32401 home.
Estimate a specific home in 32401
The estimator below is pre-set to ZIP 32401 — pick your home’s size for an instant ballpark, then open the full calculator to adjust beds, baths, and condition.
All Panama City ZIP codes by home value
Where 32401 sits among Panama City’s 3 ZIP codes:
ZIP 32401 home prices: frequently asked
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See the full Panama City 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.