32407 — Panama City Beach, FL Home Values
Typical home value $396,749 as of June 2026 · 3rd of 11 in Panama City, FL
Blue: typical home value (Zillow ZHVI) in ZIP code 32407, June 2021 to June 2026. This page shows observed data only; no forecast.
How 32407 compares in the Panama City, FL area
ZIP code 32407 (Panama City Beach, FL) has a typical home value of $396,749 as of June 2026, ranking 3rd of 11 ZIP codes tracked in the Panama City, FL area, more expensive than about 82% of ZIP codes in the metro. Prices here have moved -4.1% over the trailing 12 months. Over the past five years, the typical value in this ZIP code has changed +15.8%, from $342,555 in June 2021 to $396,749 in June 2026. Against observed rent, the typical home here sells for 20× the annual rent ($1,653/mo), a common way to gauge whether buying looks cheap relative to renting in this ZIP code.
Every figure above is observed Zillow data. Sialim's forecasting engine works at the metro level; see the Panama City, FL forecast for a modeled outlook, or browse the full ranked list of ZIP codes in Panama City.
Population and demographics
ZIP code 32407 has a population of 15,459, per the Census Bureau's American Community Survey 5-year estimate. By race and ethnicity: 74.4% White, 10.5% Black or African American, 9% Hispanic or Latino, 4% two or more races, 1.8% Asian, and 0.2% another race.
Nearby public schools
| School | Address | Distance |
|---|---|---|
| BREAKFAST POINT ACADEMY | 601 N RICHARD JACKSON BLVD, PANAMA CITY BEACH, FL | 1.1 mi |
| A. GARY WALSINGHAM ACADEMY | 44 CHIP SEAL PARKWAY, PANAMA CITY BEACH, FL | 1.2 mi |
| J.R. ARNOLD HIGH SCHOOL | 550 N ALF COLEMAN RD, PANAMA CITY BEACH, FL | 1.4 mi |
Distance is straight-line from the ZIP code's center; driving distance will be longer. School attendance is set by district boundaries, not proximity. Confirm which school a specific address is zoned for with the local school district. Source: National Center for Education Statistics.
Frequently asked questions
What is the typical home value in ZIP code 32407?
$396,749 as of June 2026, the latest month Zillow has published observed data for.
Is 32407 an expensive ZIP code in the Panama City, FL area?
32407 ranks 3rd of 11 ZIP codes in the Panama City, FL area by typical home value, more expensive than about 82% of ZIP codes in the metro.
How much have home values in 32407 changed over the past year?
-4.1% over the trailing 12 months, from observed Zillow data.
Is it cheaper to buy or rent in ZIP code 32407?
The typical home price is 20× the observed annual rent in this ZIP code ($1,653/mo). Lower multiples favor buying over renting, all else equal.
What is the population of ZIP code 32407?
15,459, per the US Census Bureau's American Community Survey 5-year estimate.
What are the closest public schools to ZIP code 32407?
BREAKFAST POINT ACADEMY (1.1 mi), A. GARY WALSINGHAM ACADEMY (1.2 mi), J.R. ARNOLD HIGH SCHOOL (1.4 mi), by straight-line distance from the ZIP code's center. School attendance is set by district boundaries, not proximity. Confirm assignment with the local school district.
Is this page showing a forecast for 32407?
No. Every number on this page is observed Zillow data as of June 2026, not a forecast. Sialim's forecasting engine runs at the metro level; see the Panama City, FL forecast for a modeled outlook.
ZIP-level values shown here are observed Zillow data, not forecasts. Sialim's forecasting engine works at the metro level today; ZIP-level forecasts are planned for Sialim Pro. Data © Zillow, via Zillow Research.