To take home four times the typical rent here, a full-time job needs to pay at least $43.57 an hour before taxes, about $90,624 a year.
Rent is the middle of 11 ZIP-level HUD studio rents in the county. HUD's county-wide figure is $1,414 (Panama City, FL HUD Metro FMR Area).
Rents vary within the county. This is what the standard would be at each ZIP code's own studio rent; the county figure above is what the calculator uses.
| ZIP | Place | Studio rent | Pay needed |
|---|---|---|---|
| 32401 | Panama City | $1,290/mo | $39.30/hr |
| 32402 | Panama City | $1,410/mo | $43.57/hr |
| 32403 | Panama City | $2,010/mo | $64.93/hr |
| 32404 | Panama City | $1,340/mo | $41.08/hr |
| 32405 | Panama City | $1,420/mo | $43.92/hr |
| 32406 | Panama City | $1,410/mo | $43.57/hr |
| 32407 | Panama City Beach | $1,800/mo | $57.43/hr |
| 32408 | Panama City | $1,410/mo | $43.57/hr |
| 32409 | Panama City | $1,290/mo | $39.30/hr |
| 32410 | Mexico Beach | $1,810/mo | $57.78/hr |
| 32411 | Panama City | $1,410/mo | $43.57/hr |
| 32412 | Panama City | $1,410/mo | $43.57/hr |
| 32413 | Panama City Beach | $1,590/mo | $49.97/hr |
| 32417 | Panama City | $1,410/mo | $43.57/hr |
| 32437 | Ebro (partly) | $1,290/mo | $39.30/hr |
| 32438 | Fountain | $1,290/mo | $39.30/hr |
| 32444 | Lynn Haven | $1,470/mo | $45.70/hr |
| 32456 | Port Saint Joe (partly) | $1,320/mo | $40.37/hr |
| 32466 | Youngstown | $1,290/mo | $39.30/hr |
Under the Four Times Rent standard, a full-time job in Bay County, Florida needs to pay at least $43.57 an hour before taxes, about $90,624 a year. That leaves $5,640 a month after taxes, four times the typical $1,410 rent on a studio apartment.
The minimum wage here is $15.00 an hour (Florida minimum wage). The standard is 2.9 times that. A full-time minimum-wage job takes home about $2,271 a month, 40% of the standard.
Take the typical monthly cost of a studio apartment, multiply by four, and divide by 160 hours of work a month. That's the take-home pay needed per hour. The pay before taxes is what it takes to keep that much after federal, state and local income taxes and Social Security and Medicare.
The idea behind the standard is laid out in Chapter 1: The Living Wage Revolution.