Panama City Hourly Wage & Salary 2026
Panama City, FL: $21.65/hr median hourly wage, $45,030 median annual salary, cost of living index 93.3, and $13.00/hr minimum wage. Calculate take-home pay with federal and Florida taxes.
Panama City Hourly Wage Quick Answer
The median hourly wage in Panama City, FL is $21.65/hr,and the median annual wage is $45,030. Entry-level pay estimates around $13.42/hr, senior-level pay estimates around $30.74/hr, and the local minimum wage is $13.00/hr.
Median figures: BLS OEWS May 2025, all occupations, Panama City-Panama City Beach, FL metropolitan statistical area (90,610 jobs). BLS publishes wages by metro area, not by city, so Panama City shares this figure with the rest of its metro. Entry and senior levels are Salario estimates.
Median Salary
$45,030
$21.65/hr
Cost of Living
93.3
US avg = 100
Minimum Wage
$13.00
per hour
Unemployment
2.9%
rate
Panama City, FL Overview
Population
37,265
Median Salary
$45,030
Average Salary
$57,610
Avg Commute
19 min
Median Home Price
$344,000
Median Rent
$1,395/mo
Job Growth
+2.8%
Sales Tax
6%
Panama City is located in Florida with a population of 37,265. The median annual wage across all occupations is $45,030 ($21.65/hour, BLS OEWS May 2025, Panama City-Panama City Beach, FL metro), which is $5,950 below the national median of $50,980. The national median is the BLS OEWS May 2025 all-occupations median annual wage. The average commute time is 19 minutes, and the city has a job growth rate of +2.8%.
Panama City Salary by Experience Level (2026)
Wage distribution in Panama City, FL built around the $45,030 median salary (BLS OEWS May 2025, all occupations, Panama City-Panama City Beach, FL metro). Entry-level represents 10th–25th percentile; mid-level is the median; senior-level represents 75th–90th percentile. The non-median rows are Salario estimates.
| Experience Level | Annual Salary | Hourly Wage | Years Exp |
|---|---|---|---|
| Entry-Level | $27,919 | $13.42/hr | 0–2 years |
| Mid-Level (Median) | $45,030 | $21.65/hr | 3–7 years |
| Senior-Level | $63,943 | $30.74/hr | 8–15 years |
| Top 10% (90th Percentile) | $80,153 | $38.54/hr | 15+ years / leadership |
Percentile multipliers (62%, 100%, 142%, 178%) are Salario approximations of the typical all-occupations wage spread in BLS OEWS metro tables; only the median row is a published BLS value. Specific roles vary; see jobs by city for role-specific data.
Panama City Paycheck Calculator
Enter your annual salary to see your estimated take-home pay in Panama City, FL, after federal, state, and local taxes.
Estimated Annual Take-Home Pay
$38,362
$3,196.80/month · $1,475.45/biweekly · Effective Rate: 14.8%
Biweekly paycheck estimate: this salary equals about $1,475.45 take-home per paycheck after estimated Florida and federal taxes. For the 26-paycheck formula, three-paycheck months, and withholding examples, see the Biweekly Paycheck Calculator.
Gross Pay
$45,030
Federal Tax
-$3,224
State Tax
$0
Local Tax
$0
FICA
-$3,445
Net Pay
$38,362
Pay Breakdown
| Item | Monthly | Annual |
|---|---|---|
| Gross Salary | $3,752.50 | $45,030.00 |
| Federal Income Tax | -$268.63 | -$3,223.60 |
| Florida State Tax (0.00% eff.) | $0.00 | $0.00 |
| Social Security (6.2%) | -$232.66 | -$2,791.86 |
| Medicare (1.45%) | -$54.41 | -$652.94 |
| Net Take-Home Pay | $3,196.80 | $38,361.60 |
Salary Comparison: Panama City vs Other Cities
See how Panama City's median salary and cost of living compare to the national average and similar cities.
| City | Median Salary | COL Index | Adj. Salary |
|---|---|---|---|
| Panama City, FL | $45,030 | 93.3 | $48,264 |
| National Average | $50,980 | 100 | $50,980 |
| Bowling Green, KY | $45,040 | 85 | $52,988 |
| Ross Township, PA | $45,014 | 97.1 | $46,358 |
| Las Cruces, NM | $45,000 | 87 | $51,724 |
| Joplin, MO | $44,980 | 93.6 | $48,056 |
Adjusted salary reflects purchasing power when cost of living is factored in. A higher adjusted salary means your money goes further.
Cost of Living in Panama City
Panama City's cost of living index is 93.3 (national average = 100). Living in Panama City is 6.700000000000003% less expensive than the national average.
Median Home Price
$344,000
Median Monthly Rent
$1,395
Annual Rent Cost
$16,740
Your Salary's Purchasing Power
Your $38,362 annual take-home pay in Panama City has the purchasing power of approximately $41,116 in an average-cost US area. Your $45,030 salary stretches further here than in most US cities.
Top Industries in Panama City
Panama City's economy is driven by these key industries. Workers in top industries often earn significantly above the median salary of $45,030.
Salary Tips for Panama City Workers
- No state income tax advantage. Florida has no state income tax, which means more of your paycheck stays in your pocket. Invest the savings in a Roth IRA or 401(k) for long-term growth.
- Research top industries. Panama City's top industries include Tourism, Agriculture, Aerospace. Targeting roles in these sectors can help you earn above the $45,030 median salary.
- Review your W-4 withholding. If you regularly receive large tax refunds, adjust your W-4 to increase your per-paycheck take-home pay instead of giving the government an interest-free loan.
Methodology & Local Economy Data Sources
How we calculate Panama City salary data: The median annual wage, median hourly wage and mean wage are the official BLS OEWS May 2025 all-occupations values for the Panama City-Panama City Beach, FL metropolitan statistical area, retrieved from the BLS Public Data API on September 17, 2026. BLS does not publish city-level wages, so every city inside that metro shows the same figure. The entry/senior/top-10% rows, the paycheck estimate and the purchasing-power conversion are Salario calculations built on that median. Cost-of-living adjustments use the C2ER Cost of Living Index baseline of 100 (national average), with Panama City indexed at 93.3.
- Median salary: $45,030 annual, $21.65 hourly, BLS OEWS May 2025, all occupations, Panama City-Panama City Beach, FL MSA (90,610 jobs surveyed). Mean wage $57,610 (BLS). Salario's previous modeled median for Panama City was $48,003.
- Tax burden reflects Florida 2026 state income tax brackets and standard deduction (top rate 0%) (no local income tax), sales tax (6%), and federal taxes per IRS 2026 brackets.
- Unemployment rate for Panama City: 2.9%, sourced from BLS Local Area Unemployment Statistics (LAUS).
- Top industries: Tourism, Agriculture, Aerospace, based on QCEW employment concentration data.
- Job growth: 2.8% projected through 2034, derived from BLS Employment Projections program for Florida.
- Housing context: median home price $344,000, median rent $1,395/mo, sourced from Census American Community Survey 5-year estimates.
Authoritative US data sources for Panama City, FL:
- BLS Occupational Employment and Wage Statistics (OEWS), metropolitan area salary data
- BLS Local Area Unemployment Statistics, Panama City unemployment rate
- U.S. Census Bureau, Panama City QuickFacts, population, housing, demographics
- BLS Quarterly Census of Employment and Wages (QCEW), county-level industry employment
- BLS Economy at a Glance, Florida, state economic indicators
- U.S. Bureau of Economic Analysis (BEA), local GDP and personal income data
- BLS Consumer Price Index (CPI-U), regional inflation tracking
Disclaimer: Salary and cost data are estimates for general guidance. Individual compensation varies by employer, experience, education, negotiation, and skills. Panama City's rapidly changing economy can shift these baselines, always verify with current job listings, employer offers, and recent Florida labor market reports for the most current figures.
Reviewed by Harlan Voss · Last updated September 17, 2026 · Wage figures: BLS OEWS May 2025 release (published May 2026) · Census data current as of latest releases
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Frequently Asked Questions
What is the hourly wage in Panama City, FL?
The median hourly wage in Panama City, FL is $21.65 per hour, the BLS OEWS May 2025 median for all occupations in the Panama City-Panama City Beach, FL metropolitan area, and the BLS median annual wage is $45,030. Entry-level workers are estimated around $13.42/hr, while senior-level workers are estimated around $30.74/hr before overtime, bonuses, or benefits (Salario estimates, not BLS percentiles).
What is the median salary in Panama City, FL?
The median salary in Panama City, FL is $45,030 per year, or $21.65 per hour (BLS OEWS May 2025, all occupations, Panama City-Panama City Beach, FL metro area). The BLS mean salary is $57,610. This is $5,950 below the BLS national median of $50,980.
What is the cost of living in Panama City, FL?
Panama City's cost of living index is 93.3 (national average = 100), meaning it is 6.700000000000003% less expensive compared to the national average. The median home price is $344,000 and the median monthly rent is $1,395.
What are the best industries in Panama City?
The top industries in Panama City, FL include Tourism, Agriculture, Aerospace. The city has a job growth rate of 2.8% and an unemployment rate of 2.9%. Workers in these industries often earn above the city's median salary of $45,030.
How does Panama City's salary compare to other cities?
Panama City's median salary of $45,030 is 11.7% below the national median of $50,980. However, when adjusted for cost of living (index: 93.3), the real purchasing power is approximately $48,264.
What is the minimum wage in Panama City, FL?
The minimum wage in Panama City, FL is $13.00 per hour. This equals approximately $27,040 per year for a full-time worker (40 hours/week). This is $5.75 above the federal minimum wage of $7.25/hour.