Lower Grand Lagoon, FL housing market
Homes typically sell in 66 days, below asking.
Home values, sales, trends and how Lower Grand Lagoon compares with the towns next door — updated as new data is published.
Lower Grand Lagoon at a glance
A buyer's market
More homes are for sale than are selling — about 10 months of supply. Buyers have room to negotiate.
Home prices up 58% in 5 years
The federal house price index for the ZIP code around Lower Grand Lagoon rose 58% over the past 5 years, about the same as across Florida. Last year prices rose 0.8%. Carrying the Census median home value forward with that index puts the typical Lower Grand Lagoon home at roughly $742,000 today.
Show as a table
| Year | Change that year | Since 2000 | Florida since 2000 |
|---|---|---|---|
| 2025 | +0.8% | +255% | +264% |
| 2024 | −1.6% | +253% | +266% |
| 2023 | +9.1% | +258% | +254% |
| 2022 | +26% | +228% | +226% |
| 2021 | +15% | +160% | +163% |
| 2020 | +6.8% | +125% | +128% |
| 2019 | +11% | +111% | +117% |
| 2018 | +7.3% | +90% | +106% |
| 2017 | +9.2% | +77% | +90% |
| 2016 | +11% | +62% | +76% |
| 2015 | −0.7% | +46% | +61% |
| 2014 | +13% | +47% | +47% |
| 2013 | +1.5% | +31% | +34% |
| 2012 | −1.2% | +29% | +24% |
| 2011 | −2.7% | +31% | +26% |
| 2010 | −12% | +34% | +36% |
| 2009 | −18% | +52% | +50% |
| 2008 | −6.9% | +85% | +83% |
| 2007 | −10% | +99% | +117% |
| 2006 | +3.4% | +121% | +123% |
| 2005 | +41% | +113% | +92% |
| 2004 | +24% | +51% | +51% |
| 2003 | +8.3% | +21% | +30% |
| 2002 | +5.7% | +12% | +20% |
| 2001 | +6.1% | +6.1% | +9.7% |
| 2000 | — | — | — |
How Lower Grand Lagoon ranks on rising home prices →
Federal Housing Finance Agency House Price Index (annual, developmental) for ZIP code 32408, weighted by land area. It tracks repeat sales and appraisals of the same homes, so it shows how prices changed, not what homes cost. The estimated value scales the Census (ACS 2020-2024) median home value by that change.
Lower Grand Lagoon and its neighbors
| Town | Typical value | 1-yr change | 2-bed rent | New homes 2025 | Median income |
|---|---|---|---|---|---|
| Lower Grand Lagoon | — | +0.8%† | $1,640 | — | $74,044 |
| Panama City Beach | $415K | −1.4% | $1,940 | 47 | $80,941 |
| Upper Grand Lagoon | — | +0.9%† | $1,800 | — | $82,157 |
† FHFA price index change, where Zillow has no home value for the town.
5.4 years of income
The typical Lower Grand Lagoon home costs about 5.4 years of the town's median household income, more than across Florida (5 years).
How Lower Grand Lagoon ranks on affordability →
Home value ÷ ACS median household income.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024.
A two-bedroom rents for about $1,640
HUD's Fair Market Rent for a two-bedroom in Lower Grand Lagoon is $1,640 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Lower Grand Lagoon pay a median of $1,323, so moving in tends to cost more than staying put. A two-bedroom takes about 27% of the town's median household income.
Studio $1,390 · 4 bedrooms $2,620
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (32408; Panama City, FL HUD Metro FMR Area), weighted by land area. A Fair Market Rent is the 40th-percentile rent plus utilities for a standard unit. Median rent: U.S. Census Bureau, American Community Survey.
Home values: Zillow Home Value Index (ZHVI), Zillow Research. Sales, days on market and supply: Redfin Data Center, May 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. Price trend: Federal Housing Finance Agency House Price Index. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers.