Key Economic Benchmarks
Median Household Income
$73,533$6,128 per month · U.S. Census Bureau ACS 5-YearFair market rent & 30% rule in Bay County, FL
Official HUD Fair Market Rents evaluated against local household income benchmarks.
2026 HUD Fair Market Rent Schedule: Bay County, FL
Official FY2026 HUD Fair Market Rents for Panama City, FL HUD Metro FMR Area. Under the federal 30% housing affordability standard, housing costs are sustainable when they consume 30% or less of gross household income.
| Unit Size | Monthly Rent | Annual Rent | 30% Rule Min. Income | % of Median Income |
|---|---|---|---|---|
| Studio / Efficiency | $1,426 | $17,112 | $57,040 | 23.3% |
| 1-Bedroom Apartment | $1,480 | $17,760 | $59,200 | 24.2% |
| 2-Bedroom ApartmentBenchmark | $1,682 | $20,184 | $67,280 | 27.4% |
| 3-Bedroom Home | $2,169 | $26,028 | $86,760 | 35.4% |
| 4-Bedroom Home | $2,689 | $32,268 | $107,560 | 43.9% |
50/30/20 Living Budget in Bay County, FL
Based on the local median household income of $73,533/year ($6,128/month), here is how a balanced budget allocates expenses:
Take-Home Pay & Tax Explorer in Florida
Explore net income after federal income tax, FICA, and Florida state income tax based on the local median baseline.
Related Regional & Financial Profiles
Compare earnings and living costs across Florida with official federal datasets:
Frequently Asked Questions About Living in Bay County, FL
What is the median household income in Bay County, FL?
According to the latest U.S. Census Bureau ACS 5-Year survey, the median household income in Bay County, FL is $73,533 per year (approximately $6,128 per month).
What is the average rent in Bay County, FL?
According to HUD Fair Market Rent (FMR) benchmarks for 2026, standard monthly rents in Bay County, FL are $1,426 for a studio, $1,480 for 1 bedroom, $1,682 for 2 bedrooms, $2,169 for 3 bedrooms, and $2,689 for 4 bedrooms.
How does the cost of living in Bay County, FL compare to the national average?
Based on the Bureau of Economic Analysis (BEA) Regional Price Parity index, the general price level in Bay County, FL is 97.3 (2.7% lower than the U.S. national baseline of 100.0).
How much do you need to earn to comfortably afford rent in Bay County, FL?
Under the standard 30% housing affordability standard, renting a median 2-bedroom home ($1,682/month) in Bay County, FL requires a minimum gross household income of $67,280 per year ($5,607 per month).
What is a balanced 50/30/20 monthly budget in Bay County, FL?
For a typical household earning the median income of $73,533/year ($6,128/month) in Bay County, FL, a balanced 50/30/20 budget allocates $3,064/month to essential needs (rent, utilities, groceries), $1,838/month to discretionary spending, and $1,226/month to savings and debt repayment.
What are typical electricity and utility costs in Bay County, FL?
Residential electricity rates in Florida average 15.1¢ per kWh according to the U.S. Energy Information Administration (EIA). For an average home using 900 kWh per month, the estimated electric bill is approximately $136 per month.