Freeport, FL vs Panama City Beach, FL

Freeport, FL and Panama City Beach, FL have a very similar cost of living, with only a 1.7% difference in their overall index. Freeport scores 119 while Panama City Beach scores 121 on the cost of living index, where 100 represents the national average. The day-to-day expenses for residents in both cities are comparable, though differences emerge when looking at specific categories.

On the housing front, median rent in Freeport is $1,769/month compared to $1,737/month in Panama City Beach — a 2% difference. Interestingly, home values tell a different story: while Panama City Beach has cheaper rent, Freeport actually has lower median home values ($379,400 vs $417,800).

Median household income in Freeport is $89,540 compared to $78,921 in Panama City Beach (+13.5%). Freeport offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Freeport spend roughly 23.7% of their income on rent, less than the 26.4% in Panama City Beach.