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The total population of Panama City is estimated to be 34,254 with 16,240 males (47.41%) and 18,014 females (52.59%). There are 1,774 more females than males in Panama City.
The median household income in Panama City was $55,742 in 2021, which marked an an increase of 1,142(2.09%) from $54,600 in 2020. This income is 74.72% of the U.S. median household income of $74,606 (all incomes in 2022 inflation-adjusted dollars).
Per the latest American Community Survey by the Census Bureau, Panama City sees its highest median household income among householders in the age group of 25 to 44 years old, at $68,976. Overall, the median household income for the city of Panama City stands at $55,742.
In Panama City, the median income for all workers aged 15 years and older, regardless of work hours, was $39,293 for males and $27,316 for females. However, when specifically considering full-time, year-round workers within the same age group, the median income was $54,108 for males and $45,416 for females.
In Panama City, the demographic landscape is diverse, spanning 6 distinct racial categories among households. Among these, Some Other Race households have the highest median household income at $75,046, while Black or African American households represent the opposite end with the lowest median household income of $36,730.
In 2022, the population of Panama City was 34,690, a 1.71% increase year-by-year from 2021. Previously, in 2021, Panama City's population was 34,106, an increase of 4.02% compared to a population of 32,788 in 2020.
The median age in Panama City, FL is 39.2, as per 2021 ACS 5-Year Estimates. Of the total population, 19.25% were under the age of 15, 18.36% aged 15 to 29, 43.53% aged 30 to 64, 16.26% aged 65 to 84, and 2.61% were 85 years of age and older.
Racial distribution of Panama City population: 65.48% are White, 21.67% are Black or African American, 1.21% are American Indian and Alaska Native, 1.27% are Asian, 0.23% are Native Hawaiian and other Pacific Islander, 3.26% are some other race and 6.89% are multiracial.