Home Insurance in Panama City Beach, Florida
Homes in Panama City Beach carry a median value of $441,300 - 42% higher than the Bay County median.
Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild. The typical home in Panama City Beach was built around 2001. About 1% of homes were built before 1960, about 8 points below Bay County's 9%.
Housing in Panama City Beach breaks down to 29% single-family homes, 67% apartments in buildings with 5+ units and 1% mobile or manufactured homes.
In Panama City Beach, about 63% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
Panama City Beach has an owner-occupancy rate of 59% and a vacancy rate of 59%; unoccupied homes typically need a different coverage form.
In Panama City Beach, 81% of homes are primarily heated with electricity.
FEMA rates Bay County's overall risk as Relatively Moderate, led by hurricane (Very High). Bay County had 31,103 active NFIP flood policies as of September 2026. See the full Bay County home insurance overview for all FEMA hazard ratings and flood coverage details.
In Florida, the statewide average premium for a standard HO-3 homeowners policy is $2,779 per year (NAIC, 2023 data).
Key figures
| Median home value | $441,300 |
|---|---|
| Median year built | 2001 |
| Owner-occupied share | 59% |
| Share of owner-occupied homes with a mortgage | 63% |
| Top county hazard | Hurricane (Very High) |
| Active NFIP policies in Bay County | 31,103 |
| Home insurance premium | $2,779 - statewide average (NAIC, 2023 data) |
Nearby towns
Sources
Data last updated: 2026-09-29
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)