Last update: Nov 2026

Cost of Living Comparison Between Colorado Springs, CO and Panama City

For one person, living is cheaper in Panama City: $1,972 a month against $2,709 in Colorado Springs, CO, rent and utilities included – about $8,800 less a year. Rent and utilities account for about half of the difference.

129

Cost of Living Index in Colorado Springs, CO
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Colorado Springs, CO Living Index
95

Cost of Living Index in Panama City
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Panama City Living Index

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Colorado Springs, CO

🇺🇸 United States

$2,709

/mo nomad

Panama City

🇵🇦 Panama

$1,972

/mo nomad

Monthly Cost of Living

How much you'll spend in Colorado Springs, CO 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 Colorado Springs, CO and in Panama City actually costs, broken down by who's living it.

Monthly costs for one person with rent: $2,709 in Colorado Springs, CO versus $1,972 in Panama City.

Colorado Springs, CO $2,709
Panama City $1,972

Estimated couple costs with rent: $4,232 in Colorado Springs, CO versus $2,930 in Panama City.

Colorado Springs, CO $4,232
Panama City $2,930

Monthly costs for a family of three with rent: $5,755 in Colorado Springs, CO versus $3,888 in Panama City.

Colorado Springs, CO $5,755
Panama City $3,888

Living in Colorado Springs, CO is roughly 37% 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: Colorado Springs, CO 100% above, Panama City 46% above.

Meal at Budget Restaurant

$19.98 $19.98

$11.37 PAB 11.37

75.73%

Three-Course Dinner for Two, Mid-Range

$86.1 $86.1

$46.69 PAB 46.69

84.49%

Fast Food Meal (McDonalds, etc)

$13.20 $13.20

$7.98 PAB 7.98

65.41%

Cappuccino

$5.44 $5.44

$4.12 PAB 4.12

32.04%

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

$2.74 $2.74

$2.01 PAB 2.01

36.32%

Water (0.33 liter bottle)

$2.23 $2.23

$1.57 PAB 1.57

42.04%

Local Beer (0.5 liter draught)

$6.10 $6.10

$3.28 PAB 3.28

85.98%

Imported Beer (0.33 liter bottle)

$7.02 $7.02

$3.88 PAB 3.88

80.93%

Milk (1 liter)

$0.97 $0.97

$1.82 PAB 1.82

-46.70%

White Bread (500g)

$3.20 $3.20

$2.61 PAB 2.61

22.61%

Rice (white) (1kg)

$4.25 $4.25

$3.45 PAB 3.45

23.19%

Eggs

$5.96 $5.96

$2.68 PAB 2.68

122.39%

Local Cheese (1kg)

$14.68 $14.68

$12.42 PAB 12.42

18.20%

Chicken Fillets (1kg)

$13.38 $13.38

$6.73 PAB 6.73

98.81%

Beef Round Steak (1kg)

$19.16 $19.16

$10.44 PAB 10.44

83.52%

Apples (1kg)

$5.40 $5.40

$4.21 PAB 4.21

28.27%

Banana (1kg)

$1.40 $1.40

$1.95 PAB 1.95

-28.21%

Oranges (1kg)

$4.35 $4.35

$4.07 PAB 4.07

6.88%

Tomato (1kg)

$4.85 $4.85

$4.02 PAB 4.02

20.65%

Potato (1kg)

$2.53 $2.53

$3.46 PAB 3.46

-26.88%

Onion (1kg)

$2.62 $2.62

$4.42 PAB 4.42

-40.72%

Lettuce (1 head)

$2.29 $2.29

$2.43 PAB 2.43

-5.76%

Water (1.5 liter bottle)

$1.99 $1.99

$1.72 PAB 1.72

15.70%

Cigarettes 20 Pack (Marlboro, Camel)

$10.14 $10.14

$6.04 PAB 6.04

67.88%

Wine (Bottle)

$19.05 $19.05

$11.68 PAB 11.68

63.10%

Local Beer (0.5 liter bottle)

$3.27 $3.27

$1.41 PAB 1.41

131.91%

Imported Beer (0.33 liter bottle)

$4.65 $4.65

$2.74 PAB 2.74

69.71%

One-way Ticket (Public Transport)

$1.71 $1.71

$0.33 PAB 0.33

418.18%

Public Transport Monthly Pass (Regular Price)

$63.7 $63.7

$20.65 PAB 20.65

208.43%

Taxi Start (Normal Tariff)

$3.65 $3.65

$2.45 PAB 2.45

48.98%

Taxi (Normal Tariff) (1km)

$1.61 $1.61

$1.76 PAB 1.76

-8.52%

Taxi 1hour Waiting (Normal Tariff)

$25.34 $25.34

$21.86 PAB 21.86

15.92%

Gasoline (1 liter)

$1.05 $1.05

$1.20 PAB 1.20

-12.50%

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

$27.9K $27.9K

$24.6K PAB 24.6K

13.50%

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

$26.9K $26.9K

$20.9K PAB 20.9K

28.63%

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

$202 $202

$132 PAB 132

53.24%

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

$93.4 $93.4

$27.89 PAB 27.89

234.99%

Internet (50+ Mbps, Unlimited Data)

$101 $101

$49.10 PAB 49.10

106.09%

Gym Membership (Monthly)

$44.13 $44.13

$44.53 PAB 44.53

-0.90%

Tennis Court (1 Hour on Weekend)

$34.07 $34.07

$34.01 PAB 34.01

0.18%

Cinema Ticket

$14.72 $14.72

$8.70 PAB 8.70

69.20%

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

$1,535 $1,535

$537 PAB 537

186.08%

International Primary School, 1 Child (Yearly)

$21.2K $21.2K

$20.5K PAB 20.5K

3.49%

Jeans (Levis 501 Or Similar)

$58.5 $58.5

$65.8 PAB 65.8

-11.11%

Summer Dress (H&M, Zara, etc)

$35.36 $35.36

$48.45 PAB 48.45

-27.02%

Sport Shoes (Adidas, Nike)

$80.9 $80.9

$95.4 PAB 95.4

-15.21%

Men's Leather Business Shoes

$102 $102

$114 PAB 114

-10.36%

1-bedroom Apartment, City Center (Monthly)

$1,709 $1,709

$1,405 PAB 1,405

21.67%

1-bedroom Apartment, Outside City Center (Monthly)

$1,265 $1,265

$994 PAB 994

27.28%

3-bedroom Apartment, City Center (Monthly)

$2,854 $2,854

$2,221 PAB 2,221

28.48%

3-bedroom Apartment, Outside City Center (Monthly)

$2,548 $2,548

$1,714 PAB 1,714

48.67%

Buy Apartment in City Center (m2)

$2,783 $2,783

$3,139 PAB 3,139

-11.33%

Buy Apartment Outside City Center (m2)

$2,320 $2,320

$1,724 PAB 1,724

34.62%

Average Monthly Net Salary (After Tax)

$4,276 $4,276

$936 PAB 936

356.84%

20-Year Fixed Mortgage Interest Rate (Annual %)

6.67

6.39

4.38%

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

Last update for Colorado Springs, CO: November 3, 2026

Last update for Panama City: November 3, 2026

Monthly budget structure

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

Accommodation & Living

Colorado Springs, CO

$1.3K 46.7%

Panama City

$994 50.4% 21.4% $271

Groceries & Markets

Colorado Springs, CO

$438 16.2%

Panama City

$326 16.5% 25.6% $112

Monthly Utilities & Internet

Colorado Springs, CO

$397 14.6%

Panama City

$209 10.6% 47.4% $188

Eating Out

Colorado Springs, CO

$329 12.2%

Panama City

$203 10.3% 38.3% $126

Clothing & Footwear

Colorado Springs, CO

$124 4.6%

Panama City

$145 7.4% 16.9% $21

Getting Around

Colorado Springs, CO

$82 3%

Panama City

$33 1.7% 59.6% $49

Sport & Entertainment

Colorado Springs, CO

$74 2.7%

Panama City

$62 3.1% 15.8% $12

Cost Breakdown

A one-bedroom apartment in the center runs $1,709 in Colorado Springs, CO and $1,405 in Panama City. Housing cost is often the main lever when comparing two cities.

Colorado Springs, CO pays about 4.6 times more on average. How far that income stretches comes down to housing choices and lifestyle.

Dining out: $86 in Colorado Springs, CO vs $47 in Panama City for a mid-range dinner for two. Groceries echo the gap at $438 vs $326 per month, with Panama City cheaper across the board.

Good to know

🇺🇸 Colorado Springs, CO

🇵🇦 Panama City

🕒 Local time

17:57 5:57 PM

19:57 7:57 PM

2 h ahead of Colorado Springs, CO

🌤 Weather

👥 Population

478,961

1,086,990 Capital

💱 Currency

United States Dollar USD $

Panamanian Balboa PAB B/.

📈 Exchange rate

1 USD = 0.895 EUR

1 PAB = 1 USD

1 PAB = 0.895 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 November 7, 2026: 1 EUR = 1.12 USD (1 USD = 0.895 EUR).

Panamanian Balboa exchange rates as of November 7, 2026: 1 USD = 1 PAB (1 PAB = 1 USD). 1 EUR = 1.12 PAB (1 PAB = 0.895 EUR).

PAB to USD in detail →

On the map

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Between locations

Colorado Springs, CO Panama City 4,170 km ≈ 6 h nonstop flight

From you

Colorado Springs, CO
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

Colorado Springs, CO vs Panama City: Cost of Living - Frequently Asked Questions

Panama City is about 27% cheaper overall, especially in eating out, utilities, and groceries. That difference adds up to real monthly savings that compound significantly over time.

Average pay in Colorado Springs, CO is about 4.6 times higher, 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: $1,709 in Colorado Springs, CO versus $1,405 in Panama City. Housing is usually the single largest factor when comparing overall living costs between the two.

Supermarket bills run roughly 34% higher in Colorado Springs, CO. For households that cook at home regularly, that difference adds up over a month.

Dining out is cheaper in Panama City – a meal for two runs $47 versus $86 in Colorado Springs, CO. If you eat out regularly, this makes a real dent in your monthly spending.

At $1,972 in Panama City versus $2,709 in Colorado Springs, CO, a $2,500 budget is realistic in Panama City but tight or insufficient in Colorado Springs, CO. The gap between the two cities makes Panama City the clear choice for anyone on this budget.

Both cities offer a good standard of living with different trade-offs. Neither is objectively better – the right pick depends on what matters most: affordability, career, cultural scene, or climate.

Expats usually find Panama City gentler on the wallet – expenses run 27% less than in Colorado Springs, CO. Beyond cost, consider language, visa policies, and how big the international community is in each city.