Cost of Living Comparison Between New York, NY and Panama City 

Indices DifferenceInfo
Consumer Prices in Panama City are 48.2% lower than in New York, NY (without rent)
Consumer Prices Including Rent in Panama City are 61.4% lower than in New York, NY
Rent Prices in Panama City are 75.7% lower than in New York, NY
Restaurant Prices in Panama City are 49.6% lower than in New York, NY
Groceries Prices in Panama City are 50.6% lower than in New York, NY
Local Purchasing Power in Panama City is 65.0% lower than in New York, NY
Currency: Sticky Currency      Switch to metric measurement units
Restaurants
New York, NY Edit Panama City Edit Difference
Meal, Inexpensive Restaurant 25.00 $ 10.00 $      -60.0 %
Meal for 2 People, Mid-range Restaurant, Three-course 100.00 $ 60.00 $      -40.0 %
McMeal at McDonalds (or Equivalent Combo Meal) 12.00 $ 7.00 $      -41.7 %
Domestic Beer (1 pint draught) 8.00 $ 2.50 $      -68.8 %
Imported Beer (12 oz small bottle) 10.00 $ 4.00 $      -60.0 %
Cappuccino (regular) 5.31 $ 3.47 $      -34.7 %
Coke/Pepsi (12 oz small bottle) 2.72 $ 1.73 $      -36.4 %
Water (12 oz small bottle) 2.18 $ 1.36 $      -37.8 %
Markets
New York, NY Edit Panama City Edit
Milk (regular), (1 gallon) 4.76 $ 6.17 $      +29.5 %
Loaf of Fresh White Bread (1 lb) 3.86 $ 2.13 $      -44.9 %
Rice (white), (1 lb) 3.69 $ 0.93 $      -74.8 %
Eggs (regular) (12) 4.79 $ 2.20 $      -54.0 %
Local Cheese (1 lb) 8.12 $ 4.14 $      -49.1 %
Chicken Fillets (1 lb) 7.65 $ 3.23 $      -57.7 %
Beef Round (1 lb) (or Equivalent Back Leg Red Meat) 8.93 $ 4.00 $      -55.2 %
Apples (1 lb) 2.63 $ 1.43 $      -45.7 %
Banana (1 lb) 1.07 $ 0.60 $      -43.9 %
Oranges (1 lb) 2.42 $ 1.36 $      -43.9 %
Tomato (1 lb) 2.85 $ 1.53 $      -46.4 %
Potato (1 lb) 1.77 $ 0.89 $      -49.6 %
Onion (1 lb) 1.61 $ 0.89 $      -44.5 %
Lettuce (1 head) 2.83 $ 2.34 $      -17.4 %
Water (1.5 liter bottle) 2.44 $ 1.56 $      -36.0 %
Bottle of Wine (Mid-Range) 18.00 $ 9.00 $      -50.0 %
Domestic Beer (0.5 liter bottle) 3.08 $ 1.26 $      -59.2 %
Imported Beer (12 oz small bottle) 3.82 $ 1.76 $      -53.8 %
Cigarettes 20 Pack (Marlboro) 16.00 $ 5.78 $      -63.9 %
Transportation
New York, NY Edit Panama City Edit
One-way Ticket (Local Transport) 2.75 $ 0.35 $      -87.3 %
Monthly Pass (Regular Price) 129.00 $ 25.00 $      -80.6 %
Taxi Start (Normal Tariff) 4.50 $ 2.00 $      -55.6 %
Taxi 1 mile (Normal Tariff) 3.00 $ 2.98 $      -0.8 %
Taxi 1hour Waiting (Normal Tariff) 30.00 $ 20.00 $      -33.3 %
Gasoline (1 gallon) 4.20 $ 4.18 $      -0.5 %
Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) 26,000.00 $ 22,250.00 $      -14.4 %
Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car) 24,012.55 $ 19,938.89 $      -17.0 %
Utilities (Monthly)
New York, NY Edit Panama City Edit
Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment 171.84 $ 107.66 $      -37.3 %
1 min. of Prepaid Mobile Tariff Local (No Discounts or Plans) 0.10 $ 0.14 $      +31.8 %
Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) 69.88 $ 49.98 $      -28.5 %
Sports And Leisure
New York, NY Edit Panama City Edit
Fitness Club, Monthly Fee for 1 Adult 103.03 $ 42.79 $      -58.5 %
Tennis Court Rent (1 Hour on Weekend) 38.00 $ 21.88 $      -42.4 %
Cinema, International Release, 1 Seat 18.00 $ 6.00 $      -66.7 %
Childcare
New York, NY Edit Panama City Edit
Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child 2,264.64 $ 420.62 $      -81.4 %
International Primary School, Yearly for 1 Child 40,750.00 $ 9,343.71 $      -77.1 %
Clothing And Shoes
New York, NY Edit Panama City Edit
1 Pair of Jeans (Levis 501 Or Similar) 64.94 $ 53.50 $      -17.6 %
1 Summer Dress in a Chain Store (Zara, H&M, ...) 56.81 $ 41.33 $      -27.2 %
1 Pair of Nike Running Shoes (Mid-Range) 93.81 $ 74.88 $      -20.2 %
1 Pair of Men Leather Business Shoes 149.81 $ 90.67 $      -39.5 %
Rent Per Month
New York, NY Edit Panama City Edit
Apartment (1 bedroom) in City Centre 3,925.47 $ 900.91 $      -77.0 %
Apartment (1 bedroom) Outside of Centre 2,398.93 $ 515.48 $      -78.5 %
Apartment (3 bedrooms) in City Centre 7,157.55 $ 1,854.35 $      -74.1 %
Apartment (3 bedrooms) Outside of Centre 4,107.47 $ 1,002.50 $      -75.6 %
Buy Apartment Price
New York, NY Edit Panama City Edit
Price per Square Feet to Buy Apartment in City Centre 1,385.27 $ 219.25 $      -84.2 %
Price per Square Feet to Buy Apartment Outside of Centre 874.19 $ 126.61 $      -85.5 %
Salaries And Financing
New York, NY Edit Panama City Edit
Average Monthly Net Salary (After Tax) 6,126.73 $ 826.19 $      -86.5 %
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate 5.66 5.99      +5.7 %
Last update: March 2023March 2023
Contributors in the past 12 months:47696