Market Overview
Home Prices in Callaway, FL
The median home value in Callaway, FL is $266,808 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's down 0.1% compared to a year ago and down 1.7% from two years prior.
Compared to the U.S. national median of $410,000, homes in Callaway are priced35% below average. Callaway is part of the Panama City, FL metro area.
Over the past five years, Callaway home values have risen by approximately22.5%, reflecting strong long-term appreciation in this market.
Price History
Callaway Home Price Trend
City Comparison
Callaway vs. National Median
At $266,808, homes in Callaway cost 35% below the national median of $410,000. This makes Callaway a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Callaway?
20% Down Payment
$53,362
on $266,808
Monthly P&I
$1,392/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,768/mo
incl. taxes & insurance
Income Needed
$70,720
gross annual (30% rule)
10% Down Option
$26,681
+ PMI applies
Loan Amount (20% dn)
$213,446
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Callaway, FL?
The median home value in Callaway is $266,808 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's down 0.1% year-over-year.
How much have home prices changed in Callaway?
Over the past year, home values in Callaway have decreased by 0.1%. Over five years, prices have risen approximately 22.5%.
How much do I need to earn to buy a home in Callaway?
To comfortably afford the median home price of $266,808 with a 20% down payment ($53,362) at today's rates (6.8%), you'd need a gross annual income of approximately $70,720. This assumes keeping total housing costs at or below 30% of gross income.
How does Callaway compare to the national average home price?
The national median home value is approximately $410,000. At $266,808, homes in Callaway are 35% below the national average.
What metro area is Callaway part of?
Callaway is part of the Panama City, FL metropolitan area. Home prices and market conditions can vary across the broader metro region.