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Rental Insights for ZIP Code 32409 (Panama City, FL)

Housing Rentals in ZIP Code 32409 (Panama City, FL)

32409 ZIP Code in Florida

An In-depth Rental Snapshot of ZIP Code 32409

The 32409 ZIP Code is primarily located in Panama City, FL in Bay County. This Florida region has a median housing rent payment of $685 per month. About 15.7% of housing units in the region are renter-occupied, and this Bay County ZIP Code has an approximate rental vacancy rate of 13.5%.

The median rent in ZIP Code 32409 of $685 per month is 42% lower than the aggregate Florida median monthly rent of $1,175, and is 35% lower than the $1,062 the median monthly rent in the U.S. overall. Approximately 66.7% of residents in ZIP Code 32409 pay between $500 and $999 per month for rent. That is 130% higher than in Florida overall, in which 29.0% of total state residents pay between $500 and $999 per month for housing.

ZIP Code 32409 Rental FAQs and Quick Facts

Monthly Rent in ZIP Code 32409

See the chart below for a comparison of monthly rental costs in ZIP Code 32409, Florida, and also in the U.S. as a whole.

This chart visualizes housing rental cost ranges in ZIP Code 32409 along with those in the state of Florida and the U.S. overall. For example, what percentage of renters pay between $1,000 and $1,499 monthly.

Rental Cost in ZIP Code 32409

See the table below for the regional comparison of monthly rental costs.

Cost ZIP 32409 Florida U.S.
Less than $500 9.6% 5.3% 9.4%
$500 to $999 66.7% 29.0% 36.2%
$1,000 to $1,499 17.2% 39.0% 30.0%
$1,500 to $1,999 2.9% 17.8% 14.0%
$2,000 to $2,499 3.6% 5.5% 5.6%
$2,500 to $2,999 0.0% 1.9% 2.4%
$3,000 or more 0.0% 1.5% 2.4%

Rent Cost vs. Income in ZIP Code 32409

Renters in ZIP Code 32409 use an estimated 26.77% of their income to cover their monthly rent payments. That is about 16% lower than in Florida overall. The estimate for Florida overall is 31.74% of income used for housing rent payments. In comparison to the U.S. as a whole, ZIP Code 32409 renters use about 10% less of their income to cover rent expense. Household income figures for ZIP Code 32409 come in higher than in Florida as a whole. The median annual household income in ZIP Code 32409 of $60,269 sits approximately 8% higher than the overall Florida median income of $55,660 and approximately 4% lower than median income of $62,843 in the U.S. as a whole.

Rent as a Percentage of Income in ZIP Code 32409

See the chart below for a comparison of monthly rent cost vs. household income in ZIP Code 32409, Florida, and also in the U.S. as a whole.

This chart visualizes monthly rent cost as a percentage of household income in ZIP Code 32409 along with the same calculations in the state of Florida and the U.S. overall. For example, what percentage of renters pay 15.0 to 19.9 percent of the monthly household income toward rent.

Rent as a Percentage of Income in ZIP Code 32409

See the table below for the regional comparison of monthly rent as a percentage of household income.

Rent Cost as % of Income ZIP 32409 Florida U.S.
Less than 15.0 percent 31.3% 8.9% 13.1%
15.0 to 19.9 percent 5.7% 10.7% 12.9%
20.0 to 24.9 percent 0.0% 12.4% 12.9%
25.0 to 29.9 percent 8.3% 11.7% 11.6%
30.0 to 34.9 percent 28.9% 9.6% 9.1%
35.0 percent or more 25.8% 46.7% 40.5%

Household Income in ZIP Code 32409

See the table below for the regional comparison of annual household income in ZIP Code 32409.

Income ZIP 32409 Florida U.S.
Less than $10,000 5.7% 6.5% 6.0%
$10,000 to $14,999 4.1% 4.3% 4.3%
$15,000 to $24,999 12.0% 9.9% 8.9%
$25,000 to $34,999 8.9% 10.3% 8.9%
$35,000 to $49,999 10.8% 13.9% 12.3%
$50,000 to $74,999 19.9% 18.3% 17.2%
$75,000 to $99,999 16.5% 12.4% 12.7%
$100,000 to $149,999 15.8% 13.1% 15.1%
$150,000 to $199,999 4.1% 5.3% 6.8%
$200,000 or more 2.1% 6.0% 7.7%

Household Income in ZIP Code 32409

See the chart below for a comparison of annual household income figures in ZIP Code 32409, Florida, and also in the U.S. overall.

This chart visualizes annual household income in ZIP Code 32409 alongside the same figures for the state of Florida and also for the entire U.S.

Miscellaneous Related Stats on ZIP Code 32409

See the table below for the regional comparison of miscellaneous data and information related to housing, rentals, and income in ZIP Code 32409.

ZIP 32409 Florida U.S.
Median Housing Rent $685 $1,175 $1,062
Renter-Occupied Housing Units 15.7% 34.6% 36.0%
Rental Vacancy Rate 13.5% 8.4% 6.0%
Average Size of Renter-Occupied Unit 2.32 2.67 2.49
Average # of Bedrooms Per Unit 2.98 2.63 2.75
Percent of Income Spent on Rent 26.77% 31.74% 29.83%
Per Capita Income $27,466 $31,619 $34,103
Median Household Income $72,005 $80,286 $88,607
Living Below the Poverty Line 7.4% 10.0% 9.5%

Summary of Rental-related Data and Stats for ZIP Code 32409

In ZIP Code 32409 (Panama City, FL), and estimated 15.7% of housing units are occupied by renters. This region has an approximate rental vacany rate of 13.5%.

The per capita income in 32409 is estimated at $27,466, which goes along with an estimated median household income of $72,005. About 7.4% of residents in this Bay County region live below the poverty line.

Among renter-occupied units in this ZIP, the average occupancy is 2.32 occupants, while the units have an aggregate average size of 2.98 bedrooms per unit.

Renters in this ZIP-defined region spend an average of 26.77% of their income on housing rental costs.

Rental FAQs for ZIP Code 32409

1

What is the median monthly rent in ZIP Code 32409?

Median rent for housing in ZIP Code 32409 in Bay County in Florida is approximately $685 per month.
2

Is it expensive to rent in ZIP Code 32409?

Rent in ZIP Code 32409 is lower than average in the state of Florida overall. The median monthly rent of $685 in ZIP Code 32409 is approximately 42% lower than the Florida median of $1,175. Additionally, median rent in this Panama City, FL region ($685) is about 35% lower than median monthly rent cost of $1,062 in the U.S. overall.
3

Are high-priced rentals common in ZIP Code 32409?

High-priced rentals are not common in the Panama City, FL ZIP Code of 32409, as the region has no rentals costing $3,000 or more per month. In contrast, in the state of Florida overall, approximately 1.5% of rentals fall in this upper tier of $3,000 or more per month.
4

Are affordable rentals common in ZIP Code 32409?

Affordable rentals are more common in ZIP Code 32409 than in Florida overall. The percentage of housing rentals in ZIP Code 32409 costing $999 or less per month (76.3%) is approximately 122% higher than the Florida rate of 34.3% that fall in that range. In addition, the aggregate U.S. rate of 45.6% paying $999 or less per month is about 67% lower than the previously mentioned 32409 rate of 76.3%.
5

What is the most common cost range that rentals fall into in ZIP Code 32409?

The most common range for rental cost in ZIP Code 32409 is between $500 and $999 per month. About 66.7% of renters in 32409 pay in this range for monthly rent. In comparison, approximately 29.0% of renters in the state of Florida fall in the between $500 and $999 range, and 36.2% of overall U.S. renters fall in this range.
6

Does ZIP Code 32409 have a high rental vacancy rate?

The rental vacancy rate in ZIP Code 32409 is higher than the rental vacancy rate in the state of Florida overall. Rental vacancy of 13.5% in ZIP Code 32409 is about 61% higher than the Florida rate of 8.4%. Looking more broadly, rental vacancy in this Panama City, FL region (13.5%) is an estimated 125% higher than the estimated rental vacancy rate of 6.0% in the U.S. overall.
7

What is the average household income in ZIP Code 32409? How does it compare to other Florida regions?

Median household income in ZIP Code 32409 is higher than in the state of Florida overall. Annual household income of $60,269 in ZIP Code 32409 is about 8% higher than the Florida median of $55,660. Additionally, median household income in this Panama City, FL region ($60,269) is approximately 4% lower than median household income of $62,843 in the U.S. as a whole.
8

How much of their income do renters in ZIP Code 32409 spend on housing costs?

Renters in ZIP Code 32409 spend a lower amount of their income on rent costs than do renters in Florida overall. Renters in ZIP Code 32409 spend an estimated 26.77% of their income on rent payments, which is about 16% lower than the overall Florida estimated rate of 31.74%. In addition, the aggregate U.S. estimated rate of 29.83% of income spent on housing rental costs is about 10% higher than the ZIP Code 32409 estimated rate of 26.77%.
9

Do renters in ZIP Code 32409 typically spend a large portion of their income on rent payments?

It is uncommon for renters in ZIP Code 32409 to spend a large portion of their income on monthly housing. The percentage of renters in ZIP Code 32409 spending 30 percent or more of their income on rent costs (54.7%) is approximately 3% lower than the Florida rate of 56.3% that spend that much. In addition, the overall U.S. rate of 49.6% paying 30 percent or more of their income on rent costs is about 10% lower than the aforementioned 32409 rate of 54.7%.
10

What is the average household size of renter-occupied units in ZIP Code 32409?

The average household size of renter-occupied units in ZIP Code 32409 is lower than in the state of Florida overall. Annual household size of 2.32 in ZIP Code 32409 is about 13% lower than the Florida median of 2.67. Additionally, median household size in this Panama City, FL region (2.32) is approximately 7% lower than median household size of 2.49 in the U.S. as a whole.

Rental Insights for other Florida ZIP Codes