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In November 2006 CNN/Money named Panama City Beach the No.
1 real estate market in America for the next five years in. real estate market in 2007, combined with a surge of new condo construction, brought spiraling prices somewhat under control.
The population density was 653.2 persons per square mile (252.5/km²).
There were 17,141 housing units at an average density of 931.6 houses per square mile (360.1/km²).
The Mayor sits as a Council member-at-large and presides over City Council meetings.
In the event that the Mayor cannot preside over a City Council meeting, the Mayor Pro-Tem is the presiding officer of the meeting until such time as the Mayor returns to his seat.
The City of Panama City Beach has a council-manager government.
Panama City Beach also has a Trolley system available which runs hourly.
The Bay Town Trolley system runs throughout the county giving its tourists and locals the resource they need to get around Bay County.
However, this is turning unobstructed, low-rise beach views and affordable waterfront property into rarities.
At the peak of the real estate boom, many beachfront properties had quadrupled or more in value since 2000.