Davenport, FL vs Panama City, FL

The cost of living difference between Davenport, FL and Panama City, FL is dramatic. Panama City is 54% cheaper than Davenport, a gap that translates to thousands of dollars per year in household expenses. Davenport has a cost index of 146 while Panama City sits at 95, making this one of the more striking comparisons on our site. Relocating between these cities would require a serious reassessment of budget and lifestyle expectations.

On the housing front, median rent in Davenport is $2,875/month compared to $1,334/month in Panama City — a 116% difference. Home values follow the same pattern: Panama City is more affordable at $243,200 median vs $297,000.

Median household income in Davenport is $65,157 compared to $61,125 in Panama City (+6.6%). Davenport does offer higher incomes, but the salary premium barely offsets the higher cost of living, leaving residents with a tighter budget. Looking at affordability, residents of Davenport spend roughly 52.9% of their income on rent, more than the 26.2% in Panama City. The Panama City ratio exceeds the commonly recommended 30% threshold, which can put pressure on household budgets.