Cost of Living Comparison Between New York, NY and Panama City 
| Indices Difference |  |
|---|---|
| Cost of Living in Panama City is 54.5% lower than in New York, NY (excluding rent) | |
| Cost of Living Including Rent in Panama City is 62.7% lower than in New York, NY | |
| Rent Prices in Panama City are 72.8% lower than in New York, NY | |
| Restaurant Prices in Panama City are 56.6% lower than in New York, NY | |
| Groceries Prices in Panama City are 48.7% lower than in New York, NY | |
| Local Purchasing Power in Panama City is 51.3% lower than in New York, NY | |
Restaurants | New York, NY Edit |
Panama City Edit | Difference |
|---|---|---|---|
| Meal, Inexpensive Restaurant | 28.00 $ | 10.00 $ | -64.3 % |
| Meal for 2 People, Mid-range Restaurant, Three-course | 135.00 $ | 55.00 $ | -59.3 % |
| McMeal at McDonalds (or Equivalent Combo Meal) | 13.00 $ | 8.00 $ | -38.5 % |
| Domestic Beer (1 pint draught) | 8.00 $ | 3.00 $ | -62.5 % |
| Imported Beer (12 oz small bottle) | 12.00 $ | 4.00 $ | -66.7 % |
| Cappuccino (regular) | 6.04 $ | 3.50 $ | -42.1 % |
| Coke/Pepsi (12 oz small bottle) | 3.20 $ | 1.63 $ | -49.0 % |
| Water (12 oz small bottle) | 2.54 $ | 1.33 $ | -47.5 % |
Markets | New York, NY Edit |
Panama City Edit | |
| Milk (regular), (1 gallon) | 5.86 $ | 6.99 $ | +19.2 % |
| Loaf of Fresh White Bread (1 lb) | 4.58 $ | 2.36 $ | -48.3 % |
| Rice (white), (1 lb) | 3.71 $ | 1.13 $ | -69.6 % |
| Eggs (regular) (12) | 6.33 $ | 2.87 $ | -54.6 % |
| Local Cheese (1 lb) | 7.56 $ | 5.49 $ | -27.4 % |
| Chicken Fillets (1 lb) | 7.15 $ | 3.32 $ | -53.5 % |
| Beef Round (1 lb) (or Equivalent Back Leg Red Meat) | 9.10 $ | 4.58 $ | -49.7 % |
| Apples (1 lb) | 3.38 $ | 1.64 $ | -51.6 % |
| Banana (1 lb) | 1.13 $ | 0.67 $ | -40.9 % |
| Oranges (1 lb) | 2.47 $ | 1.20 $ | -51.1 % |
| Tomato (1 lb) | 2.70 $ | 1.40 $ | -48.3 % |
| Potato (1 lb) | 1.68 $ | 0.99 $ | -40.8 % |
| Onion (1 lb) | 1.69 $ | 1.22 $ | -28.1 % |
| Lettuce (1 head) | 3.25 $ | 2.13 $ | -34.6 % |
| Water (1.5 liter bottle) | 2.53 $ | 1.52 $ | -40.1 % |
| Bottle of Wine (Mid-Range) | 19.99 $ | 10.00 $ | -50.0 % |
| Domestic Beer (0.5 liter bottle) | 2.80 $ | 1.20 $ | -57.0 % |
| Imported Beer (12 oz small bottle) | 3.67 $ | 2.25 $ | -38.6 % |
| Cigarettes 20 Pack (Marlboro) | 18.00 $ | 6.00 $ | -66.7 % |
Transportation | New York, NY Edit |
Panama City Edit | |
| One-way Ticket (Local Transport) | 2.90 $ | 0.42 $ | -85.3 % |
| Monthly Pass (Regular Price) | 132.00 $ | 22.50 $ | -83.0 % |
| Taxi Start (Normal Tariff) | 5.00 $ | 2.50 $ | -49.9 % |
| Taxi 1 mile (Normal Tariff) | 3.50 $ | 3.91 $ | +11.8 % |
| Taxi 1hour Waiting (Normal Tariff) | 42.00 $ | 22.00 $ | -47.6 % |
| Gasoline (1 gallon) | 3.73 $ | 3.45 $ | -7.5 % |
| Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) | 34,500.00 $ | 19,625.00 $ | -43.1 % |
| Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car) | 27,985.28 $ | 21,133.33 $ | -24.5 % |
Utilities (Monthly) | New York, NY Edit |
Panama City Edit | |
| Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment | 186.67 $ | 124.40 $ | -33.4 % |
| Mobile Phone Monthly Plan with Calls and 10GB+ Data | 57.90 $ | 29.84 $ | -48.5 % |
| Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) | 61.32 $ | 50.06 $ | -18.4 % |
Sports And Leisure | New York, NY Edit |
Panama City Edit | |
| Fitness Club, Monthly Fee for 1 Adult | 159.00 $ | 46.27 $ | -70.9 % |
| Tennis Court Rent (1 Hour on Weekend) | 64.58 $ | 32.50 $ | -49.7 % |
| Cinema, International Release, 1 Seat | 20.00 $ | 8.00 $ | -60.0 % |
Childcare | New York, NY Edit |
Panama City Edit | |
| Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child | 3,164.36 $ | 476.00 $ | -85.0 % |
| International Primary School, Yearly for 1 Child | 56,857.14 $ | 13,733.33 $ | -75.8 % |
Clothing And Shoes | New York, NY Edit |
Panama City Edit | |
| 1 Pair of Jeans (Levis 501 Or Similar) | 66.88 $ | 52.78 $ | -21.1 % |
| 1 Summer Dress in a Chain Store (Zara, H&M, ...) | 48.95 $ | 46.11 $ | -5.8 % |
| 1 Pair of Nike Running Shoes (Mid-Range) | 113.27 $ | 88.33 $ | -22.0 % |
| 1 Pair of Men Leather Business Shoes | 167.33 $ | 111.25 $ | -33.5 % |
Rent Per Month | New York, NY Edit |
Panama City Edit | |
| Apartment (1 bedroom) in City Centre | 3,992.29 $ | 1,123.68 $ | -71.9 % |
| Apartment (1 bedroom) Outside of Centre | 2,765.47 $ | 876.67 $ | -68.3 % |
| Apartment (3 bedrooms) in City Centre | 8,816.67 $ | 2,014.36 $ | -77.2 % |
| Apartment (3 bedrooms) Outside of Centre | 5,195.42 $ | 1,637.50 $ | -68.5 % |
Buy Apartment Price | New York, NY Edit |
Panama City Edit | |
| Price per Square Feet to Buy Apartment in City Centre | 1,668.59 $ | 232.92 $ | -86.0 % |
| Price per Square Feet to Buy Apartment Outside of Centre | 1,197.27 $ | 151.30 $ | -87.4 % |
Salaries And Financing | New York, NY Edit |
Panama City Edit | |
| Average Monthly Net Salary (After Tax) | 5,141.57 $ | 934.50 $ | -81.8 % |
| Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate | 6.47 | 6.23 | -3.7 % |
| Last update: | 20 May 2025 | 21 May 2025 | |
| Contributors in the past 12 months: | 376 | 65 |
Moving to New York, NY? Explore:
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| Cost of Living in Paterson, New Jersey | 17.95 miles |
| Cost of Living in Bergen County, New Jersey | 20.13 miles |
| Cost of Living in Hempstead, New York | 22.26 miles |
| Cost of Living in West Caldwell, New Jersey | 23.56 miles |
| Cost of Living in Woodbridge, New Jersey | 25.26 miles |
| Cost of Living in Glen Cove, New York | 30.15 miles |
Cities near Panama City: | Cost of Living in San Miguelito | 8.11 miles |
| Cost of Living in Tocumen | 15.44 miles |
| Cost of Living in Pacora | 19.85 miles |
| Cost of Living in El Coco | 33.93 miles |
| Cost of Living in Aguadulce | 127.78 miles |
| Cost of Living in Santiago | 161.98 miles |