Home values, rents and more in ZIP code 32405 (Panama City, FL)
September 2026 figures from Zillow and the U.S. Census Bureau · updated 2026-11-07
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How 32405 compares
The typical home in ZIP code 32405 (Panama City, FL) is worth about $289,000, according to the Zillow Home Value Index for September 2026. Home values in 32405 are 16% below the typical value in the Panama City metro area ($343,000) and 21% below the U.S. typical value ($366,000).
Over the past year, home values in 32405 rose 1.2%, compared with 0.0% in the Panama City metro area and +1.2% nationally.
Typical rent is $1,569 a month (Zillow Observed Rent Index), 10% below the Panama City metro area ($1,735) and 19% below the U.S. ($1,932). Rents fell 0.7% over the past year.
The median household income is $73,373, against $71,514 in the Panama City metro area and $80,734 in the U.S. (Census Bureau, American Community Survey 2020–24).
About 29,984 people live in 32405 (American Community Survey 2020–24).
32405 has the 6th-highest typical home value of the 13 ZIP codes in the Panama City metro area and the 272nd-lowest of 924 in Florida with Zillow figures.
Part of: Panama City, FL · Bay County, FL · Panama City metro area · Florida
More for 32405 in ProMap Plus
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- 5- and 10-year price changes
- Days on market and months of supply
- Price cuts and sale-to-list ratio
- Price-to-income and monthly cost to buy
- Zillow 12-month price forecast
- Crime rates
- School test scores
- Homeowners insurance premiums
- Commute time to downtown
- Flood, wildfire and natural hazard risk
- Property-tax rate
- 2024 presidential vote
- Age, education and household make-up
- Amenities and transit nearby
Nearby ZIP codes
Sources
Home values: Zillow Home Value Index (ZHVI), all homes, middle tier, smoothed and seasonally adjusted, September 2026. Rents: Zillow Observed Rent Index (ZORI), seasonally adjusted. Population: Census population estimates (July 2025) for states, metros and counties; ACS 2020–24 for cities and ZIP codes. Income: U.S. Census Bureau, ACS 2020–24 5-year estimates. Boundaries: U.S. Census Bureau cartographic boundary files. Compiled by Home Economics.
"Typical" is Zillow's middle-tier value (homes between the 35th and 65th percentiles), not a median sale price. Changes are over the 12 months to September 2026.