Residential comparison · 13 facts
Merritt Island, FL vs Panama City, FL
Compare the housing, tax, cost, income, safety, school, and climate facts that are available for both places. The table shows the numbers without declaring one city universally better.
A household earning $85,000 in Merritt Island needs about $88,500 in Panama City to keep the same lifestyle.
Coming from Panama City, $85,000 of lifestyle costs about $81,500 in Merritt Island.
A few differences
- Merritt Island is higher on median household income ($94,012 vs $62,265).
- Panama City is lower on cost of living index (94 vs 102).
- Panama City is lower on 2-bedroom rent ($1,325/mo vs $1,397/mo).
Merritt Island vs Panama City · facet by facet
| Facet | Merritt Island, FL | Panama City, FL |
|---|---|---|
| Median home price | $402,900 | $268,900 |
| 2-bedroom rent | $1,397/mo | $1,325/mo |
| Property tax rate | 0.8% | 0.8% |
| State & local income tax | 0% | 0% |
| Sales tax | 7% | 7% |
| Cost of living index | 102 | 94 |
| Groceries index | 103 | 103 |
| Utilities | $180/mo | $180/mo |
| Median household income | $94,012 | $62,265 |
| Unemployment rate | 3.3% | 3.3% |
| Crime index | 45/100 | 45/100 |
| School rating | 5.8/10 | 5.8/10 |
| Sunny days / year | 240 days | 240 days |
Data: Census ACS 2024 · BLS · Tax Foundation 2024 brackets · HUD/Zillow · NOAA 1991–2020 · FEMA NRI · Values are shown as reported; no universal winner is implied.
Full profiles: Merritt Island, FL · Panama City, FL
Questions & answers
- Is Merritt Island cheaper than Panama City?
- Panama City has the lower day-to-day cost index (94 vs 102 against a national 100). The other differences are shown facet by facet in the table.
- What household income in Panama City equals $85,000 in Merritt Island?
- A household earning $85,000 in Merritt Island needs about $88,500 in Panama City to keep the same lifestyle; coming the other way, $85,000 of Panama City lifestyle costs about $81,500 in Merritt Island.