Bay County, Florida: commercial real estate data.
Bay County, Florida had an estimated 199,718 residents on July 1, 2024, up 14.0 percent since the 2020 census base of 175,210, across 758 square miles. County output reached $13.47 bn in 2024, 5,306 establishments operate here, and the SBA record carries 167 7(a) approvals worth $93.5 m since FY2020.
Underlined figures are computed by MMCG Analytics, not published by the agency.
Bay County
How many people live in Bay County
- Population, American Community Survey 2020-2024186,393
- Households78,778
- Average household size2.37
- Median household income$73,533
- Median age41.0
- Median gross rent$1,484 per month
- Median owner-occupied home value$310,500
- Home value to household income4.2 times
- Annual rent as a share of median income24.2 percent
- Adults 25 and over with a bachelor degree or higher29.6 percent
- Adults 25 and over with a graduate degree10.7 percent
- Adults 25 and over132,943
- Population under 1839,382
- Share under 1821.1 percent
- Population 65 and over34,078
- Share 65 and over18.3 percent
- Working age population, 18 to 64112,933
- Civilian labor force93,951
- Unemployment rate3.9 percent
- Labor force participation, adults 18 and over63.9 percent
- Rank by population among Florida counties30th of 67
- Rank by population among US county-equivalents, Puerto Rico included369th of 3,222
Bay County is the 30th largest of 67 Florida counties by population. A median home costs 4.2 times median household income, which is seriously unaffordable by national standards. Residents under 18 outnumber those 65 and over, at 21.1 percent against 18.3 percent, a household formation profile rather than a retirement one.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Bay County
Is Bay County's population growing?
- Population, July 1, 2024199,718
- Census 2020 base population175,210
- Population change since the 2020 census base13.99 percent
- Population change, 2023 to 20247,296
- Births, 20242,047
- Deaths, 20242,002
- Natural change, 202445
- Net domestic migration, 20245,074
- Net international migration, 20242,192
- Total net migration, 20247,266
- Cumulative net domestic migration, 2021 to 202420,509
- Rank by growth among US county-equivalents78th of 3,144
The county has grown 13.99 percent since the 2020 census base. The population grew in 2024 from both sources: births exceeded deaths and more people moved in than left.
US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
Bay County
Where are people moving to Bay County from?
- Tax returns filed by households arriving7,381
- People arriving, from those returns13,502
- Tax returns filed by households leaving5,416
- Net household movement1,965
- Adjusted gross income arriving$545.5 m
- Net adjusted gross income movement$209.9 m
- Average income of an arriving household$73,902
- Average income of a leaving household$61,963
- Largest single originWalton County (245 households)
- Largest single destinationWashington County (249 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Walton County | 245 | 404 | $17.9 m |
| Washington County | 200 | 382 | $8.6 m |
| Okaloosa County | 190 | 313 | $12.3 m |
| Leon County | 162 | 220 | $5.9 m |
| Foreign - APO/FPO ZIPs | 132 | 319 | $8.1 m |
| Escambia County | 110 | 212 | $4.8 m |
| Jackson County | 109 | 206 | $5.9 m |
| Gulf County | 97 | 172 | $4.8 m |
Households arriving report $11,939 more average income than households leaving, so the migration is raising local spending power rather than just moving it around. The largest single source of arrivals is Walton County, which is the catchment a retail or multifamily study should look at first.
US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Bay County
What is the Bay County economy?
- County GDP, 2024$13.47 bn
- County GDP, 2023$12.84 bn
- GDP change, 2023 to 20244.9 percent
- GDP change over five years44.1 percent
- Rank by GDP among the Florida areas BEA publishes26th of 67
- Rank by GDP among the US county areas BEA publishes350th of 3,127
- GDP per resident$72,251
Output grew 4.9 percent in the latest year and 44.1 percent over five, which is the trend line a lender will read behind any single year figure.
US Bureau of Economic Analysis, Regional, table CAGDP2, CAGDP2, through 2024.
Bay County
Employment by industry in Bay County
- Covered employment, annual average82,632
- Establishments reporting6,848
- Average annual pay$53,407
- Average weekly wage$1,027
- Accommodation and food services, employment12,763
- Accommodation and food services, average annual pay$30,825
- Retail trade, employment12,072
- Retail trade, average annual pay$38,550
- Health care and social assistance, employment9,609
- Health care and social assistance, average annual pay$61,579
- Construction, employment6,937
- Construction, average annual pay$60,374
- Professional, scientific and technical services, employment5,167
- Administrative and support and waste management services, employment5,017
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Accommodation and food services | 12,763 | 665 | $30,825 |
| Retail trade | 12,072 | 901 | $38,550 |
| Health care and social assistance | 9,609 | 681 | $61,579 |
| Construction | 6,937 | 979 | $60,374 |
| Professional, scientific and technical services | 5,167 | 765 | $76,424 |
| Administrative and support and waste management services | 5,017 | 492 | $47,221 |
| Manufacturing | 3,413 | 186 | $68,845 |
| Real estate and rental and leasing | 2,835 | 467 | $51,391 |
Accommodation and food services is the largest private sector at 12,763 jobs, 15.4 percent of covered employment.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Bay County
How many businesses are in Bay County?
- Establishments, all industries5,306
- Employment at those establishments62,282
- Annual payroll$2.99 bn
- Establishments per 1,000 residents28.5
These are counts of establishments physically operating in the county, not listings, so they are the supply side a feasibility study measures demand against. County Business Patterns counts private establishments with paid employees in March 2023, while the Quarterly Census of Employment and Wages above counts every unemployment-insured employer, public ones included, as a 2024 annual average, so the two establishment and employment counts differ.
US Census Bureau, County Business Patterns, 2023.
Bay County
Building permits in Bay County
- Housing units authorized by permit, 20242,473
- Declared construction value permitted$785.0 m
- Single family units authorized1,886
- Multifamily units authorized587
- Multifamily share of units23.7 percent
- Average declared value per unit$317,426
- Units authorized per 1,000 households31.4
Single-family homes are 76.3 percent of units authorized, so the pipeline is predominantly single-family.
US Census Bureau, Building Permits Survey, 2024 annual.
Bay County
SBA loans in Bay County (7(a) and 504)
- 7(a) approvals recorded167
- 7(a) gross approval dollars$93.5 m
- Average 7(a) approval$559,825
- Median 7(a) approval$275,000
- 10th percentile approval$49,800
- 90th percentile approval$1,170,000
- Largest single approval$5,000,000
- Jobs reported supported, 7(a)2,144
- Jobs per approval12.8
- Distinct 7(a) lenders active51
- Distinct industries receiving approvals92
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer15.0 percent
- Loans on real estate terms25
- Loans on working capital terms, 120 months or shorter121
- Franchise loans35
- Franchise share of approvals21.0 percent
- 504 approvals recorded92
- 504 gross approval dollars$73.2 m
- Average 504 approval$795,337
- Median 504 approval$507,500
- Distinct CDCs active5
- 504 jobs per approval8.7
- 504 jobs per million dollars approved11.0
- Most active CDCFlorida First Capital Finance Corporation, Inc. (48)
- Combined SBA approval dollars, 7(a) FY2020 to FY2026 and 504 FY2010 to FY2026$166.7 m
The average approval of $559,825 sits well above the median of $275,000, pulled up by a few larger deals, so the median is the better guide to what a typical borrower here gets. Only 15.0 percent of approvals run on real estate terms, so SBA credit here is mostly working capital and equipment rather than property acquisition.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30. US Small Business Administration, 504 FOIA release, FY2010 to FY2026 year to date, as of 2026-06-30.
Bay County
SBA loan default and charge-off rates in Bay County
Do SBA loans in Bay County get paid back?
- Loans with a final outcome recorded24
- Paid in full23
- Charged off1
- Status: Exempt from disclosure114
- Status: Paid in full23
- Status: Cancelled24
- Status: Charged off1
- Status: Committed, not yet disbursed5
Only 24 loans have reached a final outcome, fewer than the 30 a charge-off rate needs, so no rate is published.
Compare against the national and state SBA charge-off rates, computed the same way over resolved loans only.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Bay County
SBA lending by place in Bay County
- Borrower cities with recorded lending8
- Panama City, approvals99
- Panama City Beach, approvals49
- Lynn Haven, approvals12
- Mexico Beach, approvals2
- Callaway, approvals2
- Southport, approvals1
| Borrower city | Approvals | Gross approval dollars |
|---|---|---|
| Panama City | 99 | $53,246,700 |
| Panama City Beach | 49 | $30,237,800 |
| Lynn Haven | 12 | $7,370,700 |
| Mexico Beach | 2 | $1,133,000 |
| Callaway | 2 | $30,000 |
| Southport | 1 | $1,073,000 |
| Santa Rosa Beach | 1 | $350,000 |
| Fountain | 1 | $49,500 |
Panama City accounts for 99 approvals against 49 in Panama City Beach. County level figures average over that gap, which is why a site decision is made at the submarket rather than the county.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Bay County
How large is Bay County?
- Land area758 sq mi
- Rank by land area among Florida counties29th of 67
- Width, east to west36.6 mi
- Height, north to south44.4 mi
- Geographies sharing a boundary5
- Residents per square mile of land246
- Establishments per square mile7.00
US Census Bureau county boundary geometry, TIGER, adjacency computed from shared boundary vertices, TIGER county boundaries. US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year. US Census Bureau, County Business Patterns, 2023.
Bay County
Flood risk in Bay County
- Participation of the county's own NFIP community Bay County, unincorporated areasParticipating, community 120004
- Community Rating System class of the county's own communityClass 5
- Communities in the county in the NFIP Community Status Book8
- Of those, participating in the NFIP8
- NFIP participation rate100.0 percent
- Best Community Rating System class in the county A lower CRS class is a larger flood insurance premium discount.Class 5
- Communities carrying a CRS class6
- Radon levels in Bay County, EPA zone predicted average indoor radon screening level less than 2 pCi/LZone 3
The county's own community in the status book, unincorporated Bay County (community 120004), participates in the National Flood Insurance Program and carries Community Rating System class 5, a flood insurance premium discount for policies written there. The EPA places Bay County in radon zone 3, a predicted average indoor radon screening level less than 2 pCi/L. The zone is a screening prediction for the county and does not substitute for a test at an address. The best Community Rating System class among the county's communities is 5, which carries a flood insurance premium discount for policies written in that community. 100.0 percent of the county's listed communities participate in the National Flood Insurance Program, per Federal Emergency Management Agency, NFIP Community Status Book (OpenFEMA), as of 2026-09-26.
Federal Emergency Management Agency, NFIP Community Status Book (OpenFEMA), as of 2026-09-26. US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Coverage
What this page does not hold.
Traffic counts, zoning and the flood zone at an address are not on this page; they resolve at the address in the platform. How this page was built →
Feasibility studies
When a Bay County site needs a document a lender will accept.
The same data layer behind this page is the one the studies are written from. A study for a Bay County site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population, American Community Survey 2020-2024186,393
- Households78,778
- Average household size2.37
- Median household income$73,533
- Median age41.0
Common questions
Bay County questions, answered from the record.
How many people live in Bay County, Florida?
The Census Bureau estimates 199,718 residents on July 1, 2024 (US Census Bureau, Population Estimates Program, Vintage 2024). The American Community Survey 2020-2024 five-year estimate is 186,393, in 78,778 households, ranking 30th of 67 Florida counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Bay County's population growing?
The population has grown 13.99 percent since the 2020 census base of 175,210, to 199,718 on July 1, 2024. In 2024 there were 2,047 births against 2,002 deaths, with net migration of 7,266. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Bay County?
$73,533. The median owner-occupied home is valued at $310,500, which is 4.2 times income, and median gross rent is $1,484 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are in Bay County?
5,306 establishments, employing 62,282 people with an annual payroll of $2.99 bn. These are establishments physically operating in the county, not listings. Source: US Census Bureau, County Business Patterns, 2023.
What is employment by industry in Bay County?
Accommodation and food services is the largest private sector at 12,763 jobs, 15.4 percent of covered employment. Covered employment averages 82,632 jobs at an average annual pay of $53,407, or $1,027 a week. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in Bay County?
167 7(a) approvals totaling $93.5 m since FY2020, across 51 lenders, with a median approval of $275,000, plus 92 504 approvals worth $73.2 m since FY2010. These are approvals recorded in the release, not loans disbursed.
How many building permits were issued in Bay County?
2,473 housing units were authorized by permit in 2024, with a declared construction value of $785.0 m. Multifamily was 23.7 percent of units. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for Bay County?
Zone 3, a predicted average indoor radon screening level less than 2 pCi/L. Source: US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Where do people moving to Bay County come from?
The largest single origin is Walton County, with 245 households. Arriving households report an average income of $73,902 against $61,963 for those leaving. Source: US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Are traffic counts available for Bay County on this page?
No. Annual average daily traffic resolves in the platform rather than in this dataset, so no AADT figure is printed here. It is a gap we know about rather than a figure we estimated.
Is zoning published for Bay County?
No. Nothing on this page presents parcel level zoning, and where a statutory framework applies it is marked as the statewide frame, to be confirmed locally.
Bay County
Cities and places in Bay.
14 Census places lie wholly or partly in Bay County. All 14 carry enough published place level data for a page of their own and are linked.
| Place | Type | Population | SBA 7(a) approvals, projects in this county | Lies in |
|---|---|---|---|---|
| Panama City | city | 34,979 | 99 | Wholly in this county |
| Lynn Haven | city | 20,081 | 12 | Wholly in this county |
| Panama City Beach | city | 18,971 | 49 | Wholly in this county |
| Upper Grand Lagoon | CDP | 17,232 | None recorded | Wholly in this county |
| Callaway | city | 13,496 | 2 | Wholly in this county |
| Springfield | city | 8,230 | None recorded | Wholly in this county |
| Parker | city | 4,509 | None recorded | Wholly in this county |
| Lower Grand Lagoon | CDP | 4,287 | None recorded | Wholly in this county |
| Laguna Beach | CDP | 3,830 | None recorded | Wholly in this county |
| Cedar Grove | CDP | 3,802 | None recorded | Wholly in this county |
| Pretty Bayou | CDP | 2,906 | None recorded | Wholly in this county |
| Mexico Beach | city | 1,099 | 2 | Wholly in this county |
| Southport | CDP | 873 | 1 | Wholly in this county |
| Tyndall AFB | CDP | 447 | None recorded | Wholly in this county |
A further 2 of the county's 167 SBA 7(a) approvals are to borrowers in cities that match no Census place in Bay County, the largest being Santa Rosa Beach (1), Fountain (1). Those are postal cities, unincorporated areas and cities outside the county, so no place row claims them; they are counted in the county total above.
Nearby