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Studio Apartment for Rent in Callaway, FL

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    $2,369 Per Month

    • Studio
    • 1 Bath
    • 300 Sq Ft
    • Furnished Studio-Panama City - Callaway

    902 N Tyndall Pkwy, Callaway, FL 32404

    Enjoy a fully furnished studio suite in our hotel at an affordable rate with free wi-fi, free utilities and free premium cable. Each studio suite has a full kitchen with full-size refrigerator, stovetop and microwave, and has a flexible workspace and plenty of storage. All our hotels are pet-friendly and have on-site guest laundry available. Plus, there are no long-term commitments and you can

    Furnished Studio-Panama City - Callaway

    (850) 713-8148

    902 N Tyndall Pkwy, Callaway, FL 32404

Why Live in Callaway

Callaway, Florida, a small community of over 13,000 residents near Panama City, has experienced significant growth since Hurricane Michael, with new houses and restaurants emerging. The city is about 5 miles from Tyndall Air Force Base, making it a popular choice for military families. The housing market includes single-family homes, townhomes, and condos, with many properties featuring waterfront views and private docks on Callaway Bayou and the East Bay. The median home price is around $293,000, which is below the national median. Educational options include Bay District Schools, which are highly rated, and the Rising Leaders Academy, a top-ranked public charter school located about 9 miles away. Callaway offers several parks, with 29% of residents living within a 10-minute walk of one. John B. Gore Park provides public boat ramp access, while the Callaway Recreational Complex hosts local sports leagues. The community is close to Panama City Beach (16 miles) and Mexico Beach (20 miles). Commercial development is concentrated along Tyndall Parkway and State Route 22, featuring grocery stores and locally-owned restaurants. Transportation options include U.S. Route 98 and State Route 22, with Bay County Transportation Services' BayWay bus route three serving the area. HCA Florida Gulf Coast Hospital is 8 miles away, and Northwest Florida Beaches International Airport is about 30 miles northwest. Due to its coastal location, Callaway is at high risk for hurricanes, and many properties are in Special Flood Hazard Areas, necessitating flood insurance.

Frequently Asked Questions

How much does it cost to rent a home in Callaway, FL?
The median rent for a home in Callaway, FL is $2,300 per month, though prices vary by neighborhood, size, and property type. As of June 2026, condos tend to be the most affordable option while townhouses and single-family homes are currently more expensive.
How much do you need to make to afford rent in Callaway, FL?
To comfortably afford the median rent in Callaway, FL, a household needs to earn roughly $92,000 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $2,300 per month in Callaway, FL, renters typically need to show $6,900 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Callaway, FL?
In Callaway, FL, the price-to-rent ratio is 11.8, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.

Rental Trends in Callaway, FL

Rental Home Trends

Number of Homes for Rent
1
Median Rent
$2,300
Median Single Family Home Rent
$2,300
Median Townhouse Rent
$1,850
Median Condo Rent
$1,100
How to Rent a Home