The downtown area with great food, drinks, and entertainment is Seaside. Any of the the neighboring towns like SeaGrove, Water Color, Grayton Beach, and Sea Crest are also great places to stay and cheaper!
If you are planning to fly to Florida. Book your flights to ECP - Panama City. You have the opportunity to rent a car during your stay at the airport, or Uber to your vacation home. The most popular way to get around town during your stay is by golf cart, beach bike, or by walking. If you are looking to fly and not rent a car. I would recommend finding a place to stay with these accommodations or look for local golf cart rental companies.