Best ZIP Codes for Cash Flow in Panama City, FL (2026)
Ranked by cap rate — the annual return on the purchase price before financing. ZIPs that also clear the 1% rule are marked.
| # | ZIP | City | Home value | Rent | Cap rate | 5-yr growth |
|---|---|---|---|---|---|---|
| 1 | 32438 | Fountain, FL | $161,612 | $1,305 | 6.30% | 4.7% |
| 2 | 32401 | Panama City, FL | $218,437 | $1,602 | 5.72% | 5.2% |
| 3 | 32404 | Panama City, FL | $288,185 | $1,870 | 5.06% | 4.0% |
| 4 | 32444 | Lynn Haven, FL | $327,012 | $2,007 | 4.79% | 4.3% |
| 5 | 32405 | Panama City, FL | $295,792 | $1,602 | 4.22% | 4.0% |
| 6 | 32466 | Youngstown, FL | $274,088 | $1,305 | 3.71% | 4.5% |
| 7 | 32408 | Panama City Beach, FL | $370,292 | $1,686 | 3.55% | 2.7% |
| 8 | 32407 | Panama City Beach, FL | $393,968 | $1,702 | 3.37% | 2.4% |
| 9 | 32456 | Port Saint Joe, FL | $479,382 | $1,971 | 3.21% | 4.8% |
| 10 | 32413 | Panama City Beach, FL | $470,917 | $1,774 | 2.94% | 3.5% |
Ranked from Repit’s own ZIP-level data — Zillow home values and rents, HUD fair-market rents where Zillow has no coverage, and U.S. Census vacancy. Cap rate is gross: annual rent over purchase price, before financing and expenses. Every ZIP above links to its full free page. How we calculate this →
Same metro, different strategy
Appreciation in Panama City, FL · Affordable in Panama City, FL
Or see the full Panama City, FL metro profile.