Last update: Nov 2026

Cost of Living Comparison Between Denver, CO and Panama City

For one person, living is cheaper in Panama City: $1,972 a month against $3,060 in Denver, CO, rent and utilities included – about $13,100 less a year. Rent and utilities account for about half of the difference.

147

Cost of Living Index in Denver, CO
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Denver, CO Living Index
95

Cost of Living Index in Panama City
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Panama City Living Index

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Denver, CO

🇺🇸 United States

$3,060

/mo nomad

Panama City

🇵🇦 Panama

$1,972

/mo nomad

Monthly Cost of Living

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

Monthly costs for one person with rent: $3,060 in Denver, CO versus $1,972 in Panama City.

Denver, CO $3,060
Panama City $1,972

Estimated couple costs with rent: $4,532 in Denver, CO versus $2,930 in Panama City.

Denver, CO $4,532
Panama City $2,930

Monthly costs for a family of three with rent: $6,004 in Denver, CO versus $3,888 in Panama City.

Denver, CO $6,004
Panama City $3,888

Living in Denver, CO is roughly 55% more expensive than in Panama City, and outside of rent the biggest gap is in groceries.

Both cities are pricier than the global median: Denver, CO 126% above, Panama City 46% above.

Meal at Budget Restaurant

$19.69 $19.69

$11.37 PAB 11.37

73.18%

Three-Course Dinner for Two, Mid-Range

$84.5 $84.5

$46.69 PAB 46.69

80.90%

Fast Food Meal (McDonalds, etc)

$11.84 $11.84

$7.98 PAB 7.98

48.37%

Cappuccino

$5.92 $5.92

$4.12 PAB 4.12

43.69%

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

$2.90 $2.90

$2.01 PAB 2.01

44.28%

Water (0.33 liter bottle)

$2.28 $2.28

$1.57 PAB 1.57

45.22%

Local Beer (0.5 liter draught)

$6.84 $6.84

$3.28 PAB 3.28

108.54%

Imported Beer (0.33 liter bottle)

$7.39 $7.39

$3.88 PAB 3.88

90.46%

Milk (1 liter)

$1.16 $1.16

$1.82 PAB 1.82

-36.26%

White Bread (500g)

$5.32 $5.32

$2.61 PAB 2.61

103.83%

Rice (white) (1kg)

$7.53 $7.53

$3.45 PAB 3.45

118.26%

Eggs

$4.69 $4.69

$2.68 PAB 2.68

75.00%

Local Cheese (1kg)

$16.92 $16.92

$12.42 PAB 12.42

36.23%

Chicken Fillets (1kg)

$17.09 $17.09

$6.73 PAB 6.73

153.94%

Beef Round Steak (1kg)

$18.71 $18.71

$10.44 PAB 10.44

79.21%

Apples (1kg)

$5.05 $5.05

$4.21 PAB 4.21

19.95%

Banana (1kg)

$2.17 $2.17

$1.95 PAB 1.95

11.28%

Oranges (1kg)

$4.59 $4.59

$4.07 PAB 4.07

12.78%

Tomato (1kg)

$5.32 $5.32

$4.02 PAB 4.02

32.34%

Potato (1kg)

$2.38 $2.38

$3.46 PAB 3.46

-31.21%

Onion (1kg)

$2.82 $2.82

$4.42 PAB 4.42

-36.20%

Lettuce (1 head)

$2.27 $2.27

$2.43 PAB 2.43

-6.58%

Water (1.5 liter bottle)

$2.56 $2.56

$1.72 PAB 1.72

48.84%

Cigarettes 20 Pack (Marlboro, Camel)

$10.76 $10.76

$6.04 PAB 6.04

78.15%

Wine (Bottle)

$19.41 $19.41

$11.68 PAB 11.68

66.18%

Local Beer (0.5 liter bottle)

$2.78 $2.78

$1.41 PAB 1.41

97.16%

Imported Beer (0.33 liter bottle)

$3.91 $3.91

$2.74 PAB 2.74

42.70%

One-way Ticket (Public Transport)

$2.76 $2.76

$0.33 PAB 0.33

736.36%

Public Transport Monthly Pass (Regular Price)

$87.9 $87.9

$20.65 PAB 20.65

325.76%

Taxi Start (Normal Tariff)

$3.53 $3.53

$2.45 PAB 2.45

44.08%

Taxi (Normal Tariff) (1km)

$1.73 $1.73

$1.76 PAB 1.76

-1.70%

Taxi 1hour Waiting (Normal Tariff)

$30.43 $30.43

$21.86 PAB 21.86

39.20%

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)

$30.7K $30.7K

$24.6K PAB 24.6K

25.10%

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

$26.1K $26.1K

$20.9K PAB 20.9K

24.99%

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

$164 $164

$132 PAB 132

24.15%

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

$77.7 $77.7

$27.89 PAB 27.89

178.56%

Internet (50+ Mbps, Unlimited Data)

$69.1 $69.1

$49.10 PAB 49.10

40.77%

Gym Membership (Monthly)

$59.2 $59.2

$44.53 PAB 44.53

32.97%

Tennis Court (1 Hour on Weekend)

$24.74 $24.74

$34.01 PAB 34.01

-27.26%

Cinema Ticket

$15.10 $15.10

$8.70 PAB 8.70

73.56%

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

$2,281 $2,281

$537 PAB 537

324.96%

International Primary School, 1 Child (Yearly)

$35.6K $35.6K

$20.5K PAB 20.5K

73.29%

Jeans (Levis 501 Or Similar)

$69.3 $69.3

$65.8 PAB 65.8

5.33%

Summer Dress (H&M, Zara, etc)

$45.23 $45.23

$48.45 PAB 48.45

-6.65%

Sport Shoes (Adidas, Nike)

$103 $103

$95.4 PAB 95.4

8.02%

Men's Leather Business Shoes

$134 $134

$114 PAB 114

17.97%

1-bedroom Apartment, City Center (Monthly)

$1,846 $1,846

$1,405 PAB 1,405

31.40%

1-bedroom Apartment, Outside City Center (Monthly)

$1,555 $1,555

$994 PAB 994

56.38%

3-bedroom Apartment, City Center (Monthly)

$3,368 $3,368

$2,221 PAB 2,221

51.62%

3-bedroom Apartment, Outside City Center (Monthly)

$2,602 $2,602

$1,714 PAB 1,714

51.87%

Buy Apartment in City Center (m2)

$5,502 $5,502

$3,139 PAB 3,139

75.28%

Buy Apartment Outside City Center (m2)

$3,497 $3,497

$1,724 PAB 1,724

102.87%

Average Monthly Net Salary (After Tax)

$5,429 $5,429

$936 PAB 936

480.07%

20-Year Fixed Mortgage Interest Rate (Annual %)

6.86

6.39

7.36%

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

Last update for Denver, CO: November 2, 2026

Last update for Panama City: November 3, 2026

Monthly budget structure

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

Accommodation & Living

Denver, CO

$1.6K 50.8%

Panama City

$994 50.4% 36.1% $560

Groceries & Markets

Denver, CO

$502 16.4%

Panama City

$326 16.5% 35.2% $177

Eating Out

Denver, CO

$334 10.9%

Panama City

$203 10.3% 39.2% $131

Monthly Utilities & Internet

Denver, CO

$310 10.1%

Panama City

$209 10.6% 32.7% $102

Clothing & Footwear

Denver, CO

$158 5.2%

Panama City

$145 7.4% 8.1% $13

Getting Around

Denver, CO

$111 3.6%

Panama City

$33 1.7% 70.1% $78

Sport & Entertainment

Denver, CO

$89 2.9%

Panama City

$62 3.1% 30.7% $27

Cost Breakdown

A one-bedroom apartment in the center runs $1,846 in Denver, CO and $1,405 in Panama City. Housing cost is often the main lever when comparing two cities.

Denver, CO pays about 5.8 times more on average. How far that income stretches comes down to housing choices and lifestyle.

Dining out: $84 in Denver, CO vs $47 in Panama City for a mid-range dinner for two. Groceries echo the gap at $502 vs $326 per month, with Panama City cheaper across the board.

Good to know

🇺🇸 Denver, CO

🇵🇦 Panama City

🕒 Local time

12:56 12:56 PM

14:56 2:56 PM

2 h ahead of Denver, CO

🌤 Weather

👥 Population

715,522

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 6, 2026: 1 EUR = 1.12 USD (1 USD = 0.895 EUR).

Panamanian Balboa exchange rates as of November 6, 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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Highest

Between locations

Denver, CO Panama City 4,250 km ≈ 6 h nonstop flight

From you

Denver, 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

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

Panama City wins on cost – living expenses run 36% lower than in Denver, CO. 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 in Denver, CO is about 5.8 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: $1,846 in Denver, 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 54% higher in Denver, 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 $84 in Denver, CO. If you eat out regularly, this makes a real dent in your monthly spending.

At $1,972 in Panama City versus $3,060 in Denver, CO, a $2,500 budget is realistic in Panama City but tight or insufficient in Denver, CO. 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 at $1,972 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 36% less than in Denver, CO. Beyond cost, consider language, visa policies, and how big the international community is in each city.