In Upper Grand Lagoon, a typical home is worth $373,200 and typical rent is $1,667 a month. Compared with all of Bay County, the typical home value is 20% higher and typical rent is 12% higher.
Upper Grand Lagoon is in Bay County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Bay County. See the county
What this place has that others do not, from public data, most unusual first.
1
Nearby, in Springfield, the typical home value is $188,600: 49% less than in Upper Grand Lagoon ($373,200).
2
Nearby, in Springfield, the typical rent is $1,307: 22% less than in Upper Grand Lagoon ($1,667).
3
The typical home in Upper Grand Lagoon is worth $373,200,20% more than in Bay County as a whole ($310,500).
Sources: U.S. Census Bureau (Average 2020–2024).
The homes here
Housing in Upper Grand Lagoon
What homes there are in Upper Grand Lagoon, what they cost, how that changed and how people live, from Census figures (2020–2024).
What homes there are
U.S. Census Bureau, ACS 5-year, 2020–2024
Kind of home
Detached houseAttached houseBuilding of 2 to 4Apartments (5 or more)Mobile homeBoat, RV and otherUnreliable estimate
Upper Grand Lagoon
Bay County
Florida
United States
Kind of home: Upper Grand Lagoon and its comparisons
Measure
Upper Grand Lagoon
Bay County
Florida
United States
Detached house
50%
51%
55%
61%
Attached house
9%
5%
7%
6%
Building of 2 to 4
10%
7%
6%
8%
Apartments (5 or more)
23%
27%
25%
19%
Mobile home
9%
10%
8%
6%
Boat, RV and other
Unreliable estimate
Unreliable estimate
0%
0%
In Upper Grand Lagoon there is a bit of everything: no kind of home reaches half. The most common are detached houses (50%), as in Bay County.
Year built
Before 19601960–19791980–19992000–20092010 or laterUnreliable estimate
Upper Grand Lagoon
Bay County
Florida
United States
Year built: Upper Grand Lagoon and its comparisons
Measure
Upper Grand Lagoon
Bay County
Florida
United States
Before 1960
Unreliable estimate
9%
10%
26%
1960–1979
12%
16%
24%
24%
1980–1999
45%
36%
34%
25%
2000–2009
27%
23%
18%
14%
2010 or later
15%
17%
14%
11%
By age, homes in Upper Grand Lagoon look like those in Bay County: the typical year built is 1995.
What it costs here
U.S. Census Bureau, ACS 5-year, 2020–2024
Value of owner-occupied homes
Unreliable estimate
Under $100KUnreliable
$100K–$200K9%
$200K–$300K17%
$300K–$500K44%
$500K–$750K18%
$750K–$1M4%
$1M or more6%
Value of owner-occupied homes: Upper Grand Lagoon and its comparisons
Measure
Upper Grand Lagoon
Under $100K
Unreliable estimate
$100K–$200K
9%
$200K–$300K
17%
$300K–$500K
44%
$500K–$750K
18%
$750K–$1M
4%
$1M or more
6%
Monthly rent with utilities
Unreliable estimate
Under $500Unreliable
$500–$999Unreliable
$1,000–$1,49929%
$1,500–$1,99938%
$2,000–$2,49916%
$2,500–$2,999Unreliable
$3,000 or moreUnreliable
Monthly rent with utilities: Upper Grand Lagoon and its comparisons
Measure
Upper Grand Lagoon
Under $500
Unreliable estimate
$500–$999
Unreliable estimate
$1,000–$1,499
29%
$1,500–$1,999
38%
$2,000–$2,499
16%
$2,500–$2,999
Unreliable estimate
$3,000 or more
Unreliable estimate
With a mortgage
$1,917 a month
Bay County: $1,778 a month
Without a mortgage
$867 a month
Bay County: $555 a month
Owners with a mortgage
59%
Bay County: 57%
In Upper Grand Lagoon, 59% of owners have a mortgage, and their typical cost is $1,917 a month, against $1,778 in Bay County. Without one it drops to $867.
How it changed
U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024
Change since 2015–2019
Typical home value
Upper Grand Lagoon+63%
Bay County+74%
Florida+67%
United States+53%
Typical rent
Upper Grand Lagoon+39%
Bay County+42%
Florida+42%
United States+33%
Typical household income
Upper Grand Lagoon+38%
Bay County+35%
Florida+34%
United States+29%
Change since 2015–2019: Upper Grand Lagoon and its comparisons
Measure
Upper Grand Lagoon
Bay County
Florida
United States
Typical home value
+63%
+74%
+67%
+53%
Typical rent
+39%
+42%
+42%
+33%
Typical household income
+38%
+35%
+34%
+29%
The typical home value in Upper Grand Lagoon rose 63% since 2015–2019, less than in Bay County (74%).
Much as in Bay County, the typical rent in Upper Grand Lagoon rose 39% since 2015–2019.
The typical household income in Upper Grand Lagoon rose 38% over that time; home values changed +63% and rent +39%.
How people live
U.S. Census Bureau, ACS 5-year, 2020–2024
How people live: Upper Grand Lagoon and its comparisons
Measure
Upper Grand Lagoon
Bay County
Florida
United States
Rental vacancy
Unreliable estimate
11.7%
7.6%
5.5%
Homeowner vacancy
Unreliable estimate
1.5%
1.4%
0.9%
More than one person per room
Unreliable estimate
3.0%
3.3%
3.4%
People per household
2.18
2.33
2.51
2.53
Drive alone
76%
75%
70%
69%
Carpool
Unreliable estimate
12%
9%
9%
Public transit
Unreliable estimate
Unreliable estimate
1%
3%
Walk or bike
Unreliable estimate
2%
2%
3%
Work from home
11%
10%
16%
15%
Other means
Unreliable estimate
1%
2%
2%
Typical commute
10 to 19 minutes
Unreliable estimate
20 to 29 minutes
20 to 29 minutes
Households in Upper Grand Lagoon are smaller: 2.18 people on average; in Bay County, 2.33.
In Upper Grand Lagoon, 76% of workers drive alone to work; in Bay County, 75%.
Do the math
What would you pay each month for a home in Upper Grand Lagoon?
A typical home costs more than the typical income allows
We start with a typical home in Upper Grand Lagoon, worth $373,200, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 44% of the typical household income in Upper Grand Lagoon, which is $82,157 a year. For that payment to be 28% of income, a household would need to earn about $128,924 a year.
The calculator's FHA and conventional loan limits are those of all of Bay County.
Change the price, the down payment or the loan: the payment updates right away.
Your numbers
Local data
$
Starts at the typical home value in Upper Grand Lagoon. Change it to the price you have in mind.
Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.
Down payment
%
That is $13,062 (3.5% of the price). The usual minimum for this loan is 3.5%.
This week's average ± a quarter or half point.
National average as of November 5, 2026 (Freddie Mac); your rate may be different.
Adjust advanced details⌄
Estimated monthly payment
Local data
$3,008
at 7.18% · 30 years
Loan amount
$366,440
Total interest
$527,222
Paid off in
November 2056
Includes $6,302 FHA upfront mortgage insurance premium.
Does it fit the income?
Comfortable
up to $1,917 a month
Tight
$1,917 to $2,465 a month
Hard
more than $2,465 a month
Your payment · 44%
Compared with the typical household income in Upper Grand Lagoon ($82,157 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.
Monthly payment breakdown
Principal & interest
$2,482
Property tax
$205
Home insurance
$156
FHA mortgage insurance (MIP)
$165
You need at least $13,062 for the down payment, plus closing costs.
This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.
Total monthly payment $3,008; principal and interest $2,482.
The city and its county
Upper Grand Lagoon and Bay County
Upper Grand Lagoon is in Bay County, Florida. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).
Upper Grand Lagoon
Map of Bay County, Florida, with Upper Grand Lagoon marked. Around it, the neighboring counties.
Upper Grand Lagoon
Bay County
Other cities with a page
Upper Grand Lagoon's own numbers
Typical home value
$373,200
Typical monthly rent
$1,667
Typical yearly household income
$82,157
Households that own their home
62%
Effective property tax rate
0.66%
U.S. Census Bureau, American Community Survey (average 2020–2024).
Numbers for all of Bay County
FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,651
Price change over 5 years (FHFA)
+48%
Homes in a high flood-risk zone
13%
HUD, FHFA and FEMA don't publish these numbers by city.
Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Bay County.
A typical home in Upper Grand Lagoon is worth $373,200: 20% above the county and 4% above Florida. With the typical household income in Upper Grand Lagoon ($82,157 a year), a typical home costs 4.5 times what the household earns in a year.
Years of income to pay for a typical home
The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.
Upper Grand Lagoon4.5 years
Bay4.2 years
Florida4.8 years
United States4.1 years
Source: U.S. Census Bureau, Average 2020–2024
How prices have changed in Bay County
According to FHFA’s house price index, home prices in Bay County rose 109% in the 10 years through 2025.
FHFA does not publish this index by city: these are the numbers for all of Bay County.
Yearly change in FHFA’s price index in Bay County, 2016 to 2025
2016: +7.0% +7.0% 2016
2017: +3.7% +3.7% 2017
2018: +10.2% +10.2% 2018
2019: +8.3% +8.3% 2019
2020: +6.2% +6.2% 2020
2021: +11.4% +11.4% 2021
2022: +21.0% +21.0% 2022
2023: +8.1% +8.1% 2023
2024: −0.6% −0.6% 2024
2025: +2.4% +2.4% 2025
Change in FHFA’s price index in Bay County, Florida and the United States
Period
County
Florida
U.S.
Last year (2025)
+2.4%
−0.5%
+2.9%
5 years (2020–2025)
+48%
+60%
+47%
10 years (2015–2025)
+109%
+127%
+85%
The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data
Upper Grand Lagoon next to Bay County, Florida and the U.S.
Three numbers side by side. “Typical” means the median: half are above it and half below.
Typical home value
Upper Grand Lagoon$373,200
Bay$310,500
Florida$359,000
United States$332,700
Typical monthly rent
Upper Grand Lagoon$1,667
Bay$1,484
Florida$1,669
United States$1,413
Typical yearly household income
Upper Grand Lagoon$82,157
Bay$73,533
Florida$74,568
United States$80,734
See the full table
Upper Grand Lagoon next to Bay County and Florida
Measure
Upper Grand Lagoon
Bay County
Florida
U.S.
Typical home value
$373,200 ▲20% above the county
$310,500
$359,000
$332,700
Typical monthly rent
$1,667 ▲12% above the county
$1,484
$1,669
$1,413
Typical yearly household income
$82,157 ▲12% above the county
$73,533
$74,568
$80,734
Households that own their home
62% ▼5 points below the county
67%
68%
65%
Typical yearly property tax
$2,452 ▲36% above the county
$1,807
$2,730
$3,119
Effective property tax rate
0.66% ▲0.08 points above the county
0.58%
0.76%
0.94%
Renters with high rent for their income
57% ▼3 points below the county
60%
60%
51%
“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Bay County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.
Four ways to pay for a typical home in Upper Grand Lagoon
For a typical $373,200 home in Upper Grand Lagoon, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Upper Grand Lagoon's typical property tax, an example home insurance and mortgage insurance when it applies.
FHA, 3.5% down$3,008a month
Least cash to close
Down payment
$13,062
Cash to close
$24,258
Rate
7.18%
Mortgage insurance
FHA MIP · $165
Conventional, 5% down$2,940a month
Down payment
$18,660
Cash to close
$29,856
Rate
7.18%
Mortgage insurance
PMI · $177
Conventional, 20% down, no PMI$2,383a month
Down payment
$74,640
Cash to close
$85,836
Rate
7.18%
Mortgage insurance
None
ITIN, 15% down (example)$2,728a month
Down payment
$55,980
Cash to close
$67,176
Rate
8.18%
Mortgage insurance
None
Four ways to pay for a typical home in Upper Grand Lagoon
Loan
Monthly payment
Down payment
Loan amount
Rate
Mortgage insurance
Cash to close
Minimum score
FHA, 3.5% down Least cash to close
$3,008
$13,062
$366,440
7.18%
FHA MIP · $165
$24,258
580
Conventional, 5% down
$2,940
$18,660
$354,540
7.18%
PMI · $177
$29,856
620*
Conventional, 20% down, no PMI
$2,383
$74,640
$298,560
7.18%
None
$85,836
620*
ITIN, 15% down (example)
$2,728
$55,980
$317,220
8.18%
None
$67,176
Set by the lender
The option that asks for the least cash to close is FHA, 3.5% down.
Cash to close = down payment plus 3% of the price in closing costs (example).
Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.
Typical rent in Upper Grand Lagoon is $1,667 a month: 12% above the county. In Upper Grand Lagoon, 57% of renter households pay 30% or more of their income in rent.
HUD publishes a fair market rent for all of Bay County, by unit size. To pay the 2-bedroom one ($1,651 a month) without spending more than 30% of your income, you would need to earn $31.75 an hour working full time.
What you need to earn to pay it without spending more than 30% of income, working full time.
HUD fair market rent in Bay County (Fiscal year 2027)
Size
Fair rent a month
Hourly wage
Yearly income
Studio
$1,414
$27.19
$56,560
1 bedroom
$1,517
$29.17
$60,680
2 bedrooms
$1,651
$31.75
$66,040
3 bedrooms
$2,101
$40.40
$84,040
4 bedrooms
$2,567
$49.37
$102,680
Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027
By ZIP code
Fair market rent by ZIP code in Upper Grand Lagoon
HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Upper Grand Lagoon has 2 ZIP codes with their own.
For 2 bedrooms it runs from $1,650 in 32408 to $2,100 in 32407.
1 of the 2 is above the fair market rent for Bay County ($1,651).
Fair market rent by ZIP code and size in Upper Grand Lagoon, fiscal year 2027.
32407
$1,800
$1,930
$2,100
$2,670
$3,260
32408
$1,410
$1,520
$1,650
$2,100
$2,570
ZIP code2 bd3 bd
32407 $2,100$2,670
32408 $1,650$2,100
2 of these ZIP codes cross the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Upper Grand Lagoon when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD)Fiscal year 2027Small Area Fair Market Rents (HUD) (external site)Source: Census Bureau ZCTA-to-place relationship fileData from 2020 dataCensus Bureau ZCTA-to-place relationship file (external site)
You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.
There is 1 HUD-approved agency with an office in Bay County; none says it serves in Spanish.
No down payment, repair or rent-help program on our list is for Upper Grand Lagoon or Bay County. The ones below are statewide in Florida: they work in Upper Grand Lagoon the same as in the rest of the state.
Florida Housing second loan with no interest and no monthly payments, repaid when you sell or refinance.Offered by Florida Housing Finance Corporation.
The HUD-approved agencies closest to the center of Upper Grand Lagoon, in a straight line, nearest first. If one says it serves in Spanish, its card says so.
CP
City of Panama City Community Development Corporation
No legal help resource on our list is for Upper Grand Lagoon or Bay County in particular.
If you have a problem with your landlord, an eviction notice or a scam, the Legal Services Corporation (LSC) search shows the free legal aid offices that serve your area.
Short answers with the numbers for Upper Grand Lagoon and all of Bay County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.
How much does a typical home cost in Upper Grand Lagoon?
The typical home value in Upper Grand Lagoon is $373,200, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Bay County it is $310,500.
How much does it cost to rent in Upper Grand Lagoon?
Typical rent in Upper Grand Lagoon is $1,667 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Bay County is $1,651.
What is the FHA loan limit in Upper Grand Lagoon?
Upper Grand Lagoon uses the FHA limit for all of Bay County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.
How much property tax do owners pay in Upper Grand Lagoon?
The typical homeowner in Upper Grand Lagoon pays $2,452 a year, according to the U.S. Census Bureau. That is 0.66% of the home’s value; in Bay County, the rate is 0.58%.
Where can I find free help to buy or rent in Upper Grand Lagoon?
There is 1 HUD-approved counseling agency with an office in Bay County. They can help you get ready to buy, with your credit, or with rent.
