Last update: Oct 2026

Cost of Living Comparison Between Anchorage, AK and Panama City

For one person, living is cheaper in Panama City: $1,837 a month against $3,251 in Anchorage, AK, rent and utilities included – about $17,000 less a year. Rent and utilities account for most of the difference.

159

Cost of Living Index in Anchorage, AK
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Anchorage, AK Living Index
90

Cost of Living Index in Panama City
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Panama City Living Index

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Anchorage, AK

🇺🇸 United States

$3,251

/mo nomad

Panama City

🇵🇦 Panama

$1,837

/mo nomad

Monthly Cost of Living

How much you'll spend in Anchorage, AK and in Panama City

Real prices from locals and on-the-ground checks – rent, groceries, transit and the daily extras. Here's what a month in Anchorage, AK and in Panama City actually costs, broken down by who's living it.

Monthly costs for one person with rent: $3,251 in Anchorage, AK versus $1,837 in Panama City.

Anchorage, AK $3,251
Panama City $1,837

Estimated couple costs with rent: $4,799 in Anchorage, AK versus $2,825 in Panama City.

Anchorage, AK $4,799
Panama City $2,825

Monthly costs for a family of three with rent: $6,346 in Anchorage, AK versus $3,812 in Panama City.

Anchorage, AK $6,346
Panama City $3,812

Living in Anchorage, AK is roughly 77% more expensive than in Panama City, and outside of rent the biggest gap is in eating out.

Both cities are pricier than the global median: Anchorage, AK 143% above, Panama City 37% above.

Meal at Budget Restaurant

$25.37 $25.37

$11.34 PAB 11.34

123.72%

Three-Course Dinner for Two, Mid-Range

$102 $102

$47.85 PAB 47.85

112.23%

Fast Food Meal (McDonalds, etc)

$14.88 $14.88

$8.07 PAB 8.07

84.39%

Cappuccino

$6.80 $6.80

$4.02 PAB 4.02

69.15%

Coke/Pepsi/Fanta/Sprite (0.33 liter bottle)

$3.28 $3.28

$1.94 PAB 1.94

69.07%

Water (0.33 liter bottle)

$2.56 $2.56

$1.62 PAB 1.62

58.02%

Local Beer (0.5 liter draught)

$7.83 $7.83

$3.26 PAB 3.26

140.18%

Imported Beer (0.33 liter bottle)

$9.73 $9.73

$3.99 PAB 3.99

143.86%

Milk (1 liter)

$1.19 $1.19

$1.83 PAB 1.83

-34.97%

White Bread (500g)

$4.80 $4.80

$2.57 PAB 2.57

86.77%

Rice (white) (1kg)

$6.33 $6.33

$3.33 PAB 3.33

90.09%

Eggs

$4.32 $4.32

$2.69 PAB 2.69

60.59%

Local Cheese (1kg)

$13.83 $13.83

$12.33 PAB 12.33

12.17%

Chicken Fillets (1kg)

$12.52 $12.52

$6.69 PAB 6.69

87.14%

Beef Round Steak (1kg)

$21.84 $21.84

$10.40 PAB 10.40

110.00%

Apples (1kg)

$7.99 $7.99

$4.16 PAB 4.16

92.07%

Banana (1kg)

$2.26 $2.26

$1.84 PAB 1.84

22.83%

Oranges (1kg)

$5.58 $5.58

$4.18 PAB 4.18

33.49%

Tomato (1kg)

$6.23 $6.23

$4.08 PAB 4.08

52.70%

Potato (1kg)

$2.94 $2.94

$3.50 PAB 3.50

-16.00%

Onion (1kg)

$3.05 $3.05

$4.37 PAB 4.37

-30.21%

Lettuce (1 head)

$2.76 $2.76

$2.34 PAB 2.34

17.95%

Water (1.5 liter bottle)

$2.36 $2.36

$1.75 PAB 1.75

34.86%

Cigarettes 20 Pack (Marlboro, Camel)

$12.79 $12.79

$6.06 PAB 6.06

111.06%

Wine (Bottle)

$17.74 $17.74

$11.72 PAB 11.72

51.37%

Local Beer (0.5 liter bottle)

$1.69 $1.69

$1.37 PAB 1.37

23.36%

Imported Beer (0.33 liter bottle)

$3.37 $3.37

$2.84 PAB 2.84

18.66%

One-way Ticket (Public Transport)

$1.96 $1.96

$0.36 PAB 0.36

444.44%

Public Transport Monthly Pass (Regular Price)

$60.9 $60.9

$20.96 PAB 20.96

190.41%

Taxi Start (Normal Tariff)

$2.80 $2.80

$2.52 PAB 2.52

11.11%

Taxi (Normal Tariff) (1km)

$1.88 $1.88

$1.79 PAB 1.79

5.03%

Taxi 1hour Waiting (Normal Tariff)

$41.99 $41.99

$22.01 PAB 22.01

90.78%

Gasoline (1 liter)

$1.30 $1.30

$1.25 PAB 1.25

4.00%

Midsize Hatchback 1.4l (Volkswagen Golf, Toyota Prius, Honda Civic, etc)

$33.5K $33.5K

$21.5K PAB 21.5K

55.63%

Compact Sedan 1.6l (Toyota Corolla, Mazda3, Kia K4, Hyundai Elantra, etc)

$25.7K $25.7K

$21.2K PAB 21.2K

21.27%

Utilities for 2 People in 2-bedroom Apartment (Heating, Electricity, Gas, Water, Garbage) (85m2)

$409 $409

$131 PAB 131

212.04%

SIM Card Monthly Plan (Calls and 10GB+ Data)

$90.2 $90.2

$27.68 PAB 27.68

225.98%

Internet (50+ Mbps, Unlimited Data)

$137 $137

$48.59 PAB 48.59

181.87%

Gym Membership (Monthly)

$89.3 $89.3

$46.11 PAB 46.11

93.56%

Tennis Court (1 Hour on Weekend)

$39.86 $39.86

$35.01 PAB 35.01

13.85%

Cinema Ticket

$15.28 $15.28

$8.73 PAB 8.73

75.03%

Preschool or Kindergarten, Full Day, Private, 1 Child (Monthly)

$1,227 $1,227

$551 PAB 551

122.87%

International Primary School, 1 Child (Yearly)

$10.6K $10.6K

$9,560 PAB 9,560

10.38%

Jeans (Levis 501 Or Similar)

$49.59 $49.59

$67.6 PAB 67.6

-26.65%

Summer Dress (H&M, Zara, etc)

$45.89 $45.89

$48.03 PAB 48.03

-4.46%

Sport Shoes (Adidas, Nike)

$112 $112

$94.9 PAB 94.9

17.94%

Men's Leather Business Shoes

$122 $122

$113 PAB 113

7.83%

1-bedroom Apartment, City Center (Monthly)

$1,788 $1,788

$1,238 PAB 1,238

44.50%

1-bedroom Apartment, Outside City Center (Monthly)

$1,410 $1,410

$873 PAB 873

61.48%

3-bedroom Apartment, City Center (Monthly)

$2,845 $2,845

$2,197 PAB 2,197

29.50%

3-bedroom Apartment, Outside City Center (Monthly)

$2,437 $2,437

$1,538 PAB 1,538

58.40%

Buy Apartment in City Center (m2)

$4,006 $4,006

$3,116 PAB 3,116

28.56%

Buy Apartment Outside City Center (m2)

$2,789 $2,789

$1,725 PAB 1,725

61.72%

Average Monthly Net Salary (After Tax)

$4,681 $4,681

$934 PAB 934

400.95%

20-Year Fixed Mortgage Interest Rate (Annual %)

6.49

6.39

1.56%

CityCost data is based on AI and user input – minor inaccuracies may occur.

Last update for Anchorage, AK: October 3, 2026

Last update for Panama City: October 3, 2026

Monthly budget structure

Share of the monthly basket for one person, rent included.

Accommodation & Living

Anchorage, AK

$1.4K 42.9%

Panama City

$873 47.2% 38.1% $537

Monthly Utilities & Internet

Anchorage, AK

$637 19.3%

Panama City

$207 11.2% 67.4% $429

Groceries & Markets

Anchorage, AK

$484 14.7%

Panama City

$324 17.5% 33% $160

Eating Out

Anchorage, AK

$411 12.5%

Panama City

$202 10.9% 51% $209

Clothing & Footwear

Anchorage, AK

$148 4.5%

Panama City

$146 7.9% 1.7% $2.6

Sport & Entertainment

Anchorage, AK

$120 3.6%

Panama City

$64 3.4% 46.9% $56

Getting Around

Anchorage, AK

$81 2.5%

Panama City

$34 1.8% 58.1% $47

Cost Breakdown

A one-bedroom apartment in the center runs $1,788 in Anchorage, AK and $1,238 in Panama City. Housing cost is often the main lever when comparing two cities.

Anchorage, AK pays 401% more on average. The extra income cushions the higher costs, though housing choices and lifestyle decide how much of the gap is truly closed.

Dining out: $102 in Anchorage, AK vs $48.00 in Panama City for a mid-range dinner for two. Groceries echo the gap at $484 vs $324 per month, with Panama City cheaper across the board.

Good to know

🇺🇸 Anchorage, AK

🇵🇦 Panama City

🕒 Local time

22:46 10:46 PM

01:46 1:46 AM

3 h ahead of Anchorage, AK

🌤 Weather

👥 Population

289,600

1,086,990 Capital

💱 Currency

United States Dollar USD $

Panamanian Balboa PAB B/.

📈 Exchange rate

1 USD = 0.892 EUR

1 PAB = 1 USD

1 PAB = 0.892 EUR

Exchange rates and currency converter

PAB, EUR to USD – United States Dollar Converter

🇵🇦 Panamanian Balboa (B/.)

🇺🇸 United States Dollar ($)

United States Dollar exchange rates as of October 10, 2026: 1 EUR = 1.12 USD (1 USD = 0.892 EUR).

Panamanian Balboa exchange rates as of October 10, 2026: 1 USD = 1 PAB (1 PAB = 1 USD). 1 EUR = 1.12 PAB (1 PAB = 0.892 EUR).

PAB to USD in detail →

On the map

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Highest

Between locations

Anchorage, AK Panama City 8,080 km ≈ 11 h nonstop flight

From you

Anchorage, AK
Panama City

Distances are measured in a straight line. Your location is detected approximately.

City Median Internet Speeds Comparison (Updated April 2026)

The chart highlights the Precision Threshold for mobile and fixed broadband internet speeds, updated quarterly.

Digital Nomad Cost of Living Index

Anchorage, AK vs Panama City: Cost of Living - Frequently Asked Questions

Panama City wins on cost – living expenses run 77% lower than in Anchorage, AK. Housing and daily spending are where you'll feel the difference most, making Panama City the obvious pick if budget is a priority.

Average pay runs 401% higher in Anchorage, AK, which matters when comparing affordability. Whether that higher income actually nets you more depends on your spending habits and housing choices.

Rent for a central apartment: $1,788 in Anchorage, AK versus $1,238 in Panama City. Housing is usually the single largest factor when comparing overall living costs between the two.

Dining out is cheaper in Panama City – a meal for two runs $48.00 versus $102 in Anchorage, AK. If you eat out regularly, this makes a real dent in your monthly spending.

All in, you'll spend $3,251 per month in Anchorage, AK versus $1,837 in Panama City – a 77% gap that adds up to real savings over time for anyone picking the cheaper option.

At $1,837 in Panama City versus $3,251 in Anchorage, AK, a $2,500 budget is realistic in Panama City but tight or insufficient in Anchorage, AK. The gap between the two cities makes Panama City the clear choice for anyone on this budget.

Both work as nomad bases, but Panama City delivers better value – similar infrastructure at $1,837 monthly. If stretching your runway or maximizing savings is the goal, the price difference makes Panama City hard to pass up.

Expats usually find Panama City gentler on the wallet – expenses run 77% less than in Anchorage, AK. Beyond cost, consider language, visa policies, and how big the international community is in each city.