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Housing Profile
Bay County, Florida
  • Population, 2015: 173303. Bay County ranks # 28 of Florida's 67 counties in population.
  • Households, 2015: 71279
  • Homeownership Rate, 2015: 63.8%. Statewide, Florida's homeownership rate is 67.7%.
Population Projections
  • In 2040, Bay County is projected to have a population of 213197, ranking it # 30 of Florida's 67 counties.

Projected Total Population, Bay County, 2010-2040

Place 2010 2015 2020 2025 2030 20352040
Bay County 168852 173303 183102 191905 199403 206203 213197
Notes:  Not Available.
Sources:  University of Florida Bureau of Economic and Business Research, Population Projections; U.S. Census Bureau, 2010 Decennial Census.
Housing Market

Existing Home Values (Based on County Property Appraisers' Just Value)

  • Single Family Home, average just value, 2016: $150124. (Statewide, the average just value of a single family home in Florida in 2016 was $219681).
  • Mobile Home, average just value, 2016: $49923.
  • Condominium, average just value, 2016: $189452.

Home Sales Prices

  • The average sales price for a single family home was $219397 in 2016. The median sales price that year was $185000, compared to a statewide median sales price of $212000.

    Source: Florida Department of Revenue, Sales Data Files

Median Sales Price for Single Family Homes and Condominiums, Bay County, 1996-2016

Place Housing Type 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 20152016
Bay County Single Family Homes 79900 85000 89000 94000 100000 109900 118000 137000 162000 205000 211500 205000 194900 174900 165000 163500 170000 179000 184000 193000 185000
Bay County Condominiums 84000 99000 101000 120000 123250 135000 138000 180000 275000 415000 348000 400000 267000 204250 191000 185000 180000 195000 195000 210000 210000
Notes:  Not applicable
Sources:  Florida Department of Revenue, Sales Data Files

Median Gross Rent, Bay County, 2010-2014 American Community Survey

Place Median Gross RentState Median Gross Rent
Bay County 932 998
Notes:  American Community Survey is based on a sample of households and therefore involves a margin of error. To find the margin of error for this and other ACS-based tables, see the General Unit Characteristics tool. A "-" indicates that the value in the ACS is not statistically significant from zero.
Sources:  U.S. Census Bureau, 2010-2014 American Community Survey 5-Year Summary File
  • In Bay County and the surrounding metro area, the HUD Fair Market Rent in 2016, representing rent for a typical modest apartment, was $657 for a studio apartment, $755 for a one-bedroom, $881 for a two-bedroom, $1249 for a three-bedroom, and $1483 for a four-bedroom unit.

    Source: U.S. Department of Housing and Urban Development, 2016 Fair Market Rents

Households by Monthly Rent Paid, Bay County, 2010-2014

Place <$200 $200-$299 $300-$499 $500-$749 $750-$999 $1,000-$1,499 $1,500 or More No Cash RentTotal
Bay County 193 226 1225 4636 8040 7866 2230 1600 26016
Notes:  American Community Survey is based on a sample of households and therefore involves a margin of error. To find the margin of error for this and other ACS-based tables, see the General Unit Characteristics tool. A "-" indicates that the value in the ACS is not statistically significant from zero.
Sources:  U.S. Census Bureau, 2010-2014 American Community Survey 5-Year Summary File

Manufactured Housing Parks and Condominiums

  • There are 45 licensed manufactured housing parks in Bay with 1865 lots in 2012.
  • There are 285 licensed condominium developments in Bay with 18842 units in 2012. Of these, 13 properties with 538 units were converted from rental to condo.

    Source: Florida Department of Business and Professional Regulation

Home Purchase Loans by Property Type, Bay County, 2005-2014

Application Count
Place County Property Type 2005 2006 2007 2008 2009 2010 2011 2012 20132014
Bay County Bay One to four-family (other than manufactured housing) 5554 4555 4030 2273 1771 1438 1643 3864 4817 5177
Bay County Bay Manufactured housing 361 377 255 129 54 76 66 172 170 225
Bay County Bay Multifamily 13 14 4 3 2 0 2 8 15 14
Notes:  Shows loan applications resulting in loan origination only. For more information, see HMDA User Guide
Sources:  Home Mortgage Disclosure Act data 2005-2014

Foreclosures and Serious Delinquencies

  • The Panama City MSA had a foreclosure rate for 1-4 unit homes of 6.93% and a serious delinquency (90+ day) rate of 2.74% in September 2013.

    Source: Analysis of LPI Applied Analytics data by LISC, tabulated by the Urban Institute
Affordable Housing Needs

Cost Burden, General

  • "Cost-burdened" households pay more than 30% of income for rent or mortgage costs. In 2015, 25265 Bay County households (35%) pay more than 30% of income for housing. By comparison, 42% of households statewide are cost-burdened.
  • 11925 households in Bay County (17%) pay more than 50% of income for housing.

Households by Cost Burden, Bay County, 2015

Amount of Income Paid for Housing
0-30% 30-50%50% or more
Total 46014 13340 11925
Notes:  Click here to get household projections by tenure, age of householder, income, and cost burden.
Sources:   Not Available.
Homeowners and Renters

Households by Homeowner/Renter Status and Cost Burden, Bay County, 2015

Amount of Income Paid for Housing
0-30% 30-50%50% or more
Owner 33187 6904 5420
Renter 12827 6436 6505
Notes:  Click here to get household projections by tenure, age of householder, income, and cost burden.
Sources:   Not Available.

Household Income

  • In the following table, household income is measured as a percentage of the median income for the county or area, adjusted for family size. In Bay County and the surrounding metro area, the HUD-estimated median income for a family of four is $55200 in 2016.

Households by Income and Cost Burden, Bay County, 2015

Household Income as Percentage of Area Median Income Amount of Income Paid for Housing
0-30% 30-50%50% or more
<=30% AMI 859 586 5078
30.01-50% AMI 2158 1768 3743
50.01-80% AMI 4910 3997 1979
80.01+% AMI 38087 6989 1125
Total 46014 13340 11925
Notes:  Click here to get household projections by tenure, age of householder, income, and cost burden.
Sources:   Not Available.

Elderly Households

  • 18105 households in Bay County (25.4%) are headed by a person age 65 or older in 2015. In comparison, 29.6% of households statewide are headed by elderly persons.
  • 14972 of elderly households in Bay (82.7%) own their homes.
  • 5602 elderly households (31%) pay more than 30% of income for rent or mortgage costs.

Elderly Households by Age and Cost Burden, Bay County, 2015

Age of Householder Amount of Income Paid for Housing
0-30% 30-49.9%50+ %
65 or more 12503 2536 3066
Notes:  Click here to get household projections by tenure, age of householder, income, and cost burden.
Sources:   Not Available.

Supply Characteristics

Single Family Home Size and Age

  • In 2016, the median size for a new single-family home in Bay County was 1931 square feet.

Year Structure Built, Bay County, 2010-2014 American Community Survey

Place Number Share by Decade
2000 or After 1990-1999 1980-1989 1970-1979 1960-1969 1950-1959 1940-1949 1939 or Earlier Total 2000 or After 1990-1999 1980-1989 1970-1979 1960-19691959 or Earlier
Bay County 24165 18376 24592 13967 6464 6831 3792 1706 99893 24.2 18.4 24.6 14.0 6.5 12.3
Notes:  American Community Survey is based on a sample of households and therefore involves a margin of error. To find the margin of error for this and other ACS-based tables, see the General Unit Characteristics tool. A "-" indicates that the value in the ACS is not statistically significant from zero.
Sources:  U.S. Census Bureau, 2010-2014 American Community Survey 5-Year Summary File

Housing Condition Characteristics (Occupied Units), Bay County, 2010-2014 American Community Survey

Place Persons Per Room House Heating Fuel Kitchen Facilities Plumbing Facilities
1.01 or More Persons per Room Share of Occupied Units (%) No Fuel Used Share of Occupied Units (%) Lacking Complete Facilities Share of Occupied Units (%) Lacking Complete FacilitiesShare of Occupied Units (%)
Bay County 1231 1.8 414 0.6 2355 2.4 2807 2.8
Notes:  Housing units are considered to be substandard if they are overcrowded, do not have heat, or lack complete kitchens or plumbing.
American Community Survey is based on a sample of households and therefore involves a margin of error. To find the margin of error for this and other ACS-based tables, see the General Unit Characteristics tool. A "-" indicates that the value in the ACS is not statistically significant from zero.
Sources:  U.S. Census Bureau, 2010-2014 American Community Survey 5-Year Summary File