Panama City Beach sits along the Gulf Coast of the Florida panhandle. It’s a distinct municipality from the larger Panama City. The housing boom of the early 2000s completely transformed this particular Florida market, replacing small beachfront bungalows with high-rise luxury condos. Modern, Mediterranean-style homes dominate the outlying neighborhoods, most of which are devoted to single-story structures built in the typical Florida style.
CNN/Money once ranked Panama City Beach as the number one real estate market in America. Plus, there’s not a single home in town that’s more than a mile and a half from the beach. Much of the actual waterfront property along Beach Front Road is devoted to multi-story apartment buildings, many of which double as premier vacation resorts. Likewise, many homes around the bustling Pier Park area operate solely as short-term rentals. Prospective residents can find some quieter developments on the outskirts of town. The Gulf Highlands to the west is a great spot for families and offers a modest selection of older two- and three-bedroom homes. Shoppers looking for more land and newer construction can check out the sprawling properties up in Colonial Club Harbor. The Glades is a popular development for east-side dwellers and offers a nice selection of chic modern designs in slightly higher price brackets.
Tourism dominates the economy in Panama City Beach. It’s a popular Destination town that explodes during March and April. In fact, it’s widely known as the Spring Break Capital of the World. Naturally, the majority of local jobs are found in hospitality. Many residents work in one of many restaurants, shops and tour companies throughout Pier Park. The town is also home to dozens of hotels from national chains to independent boutiques. Major employers include Wyndham Hotels, Intercontinental Hotels Group, Wal-Mart and Bay District Schools. Many companies offer temporary positions during peak season, but the economy still remains active for the entire year.