Last update: Oct 2026

Cost of Living Comparison Between Monument, CO and Panama City

For one person, living is cheaper in Panama City: $1,972 a month against $3,207 in Monument, CO, rent and utilities included – about $14,800 less a year. Rent and utilities account for most of the difference.

154

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

Cost of Living Index in Panama City
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Panama City Living Index

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Monument, CO

🇺🇸 United States

$3,207

/mo nomad

Panama City

🇵🇦 Panama

$1,972

/mo nomad

Monthly Cost of Living

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

A single person spends $3,207 per month in Monument, CO vs $1,972 in Panama City, rent included.

Monument, CO $3,207
Panama City $1,972

A couple spends around $4,458 per month in Monument, CO vs $2,930 in Panama City, rent included.

Monument, CO $4,458
Panama City $2,930

A family of three spends $5,709 per month in Monument, CO vs $3,888 in Panama City, rent included.

Monument, CO $5,709
Panama City $3,888

Monument, CO costs about 63% more than Panama City, and outside of rent the biggest gap is in eating out.

Both Monument, CO and Panama City sit above the global median – Monument, CO by 137%, Panama City by 46%.

Meal at Budget Restaurant

$22.93 $22.93

$11.37 PAB 11.37

101.67%

Three-Course Dinner for Two, Mid-Range

$80.4 $80.4

$46.69 PAB 46.69

72.11%

Fast Food Meal (McDonalds, etc)

$10.89 $10.89

$7.98 PAB 7.98

36.47%

Cappuccino

$5.71 $5.71

$4.12 PAB 4.12

38.59%

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

$2.54 $2.54

$2.01 PAB 2.01

26.37%

Water (0.33 liter bottle)

$2.06 $2.06

$1.57 PAB 1.57

31.21%

Local Beer (0.5 liter draught)

$6.12 $6.12

$3.28 PAB 3.28

86.59%

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)

$2.93 $2.93

$2.61 PAB 2.61

12.26%

Rice (white) (1kg)

$2.77 $2.77

$3.45 PAB 3.45

-19.71%

Eggs

$4.31 $4.31

$2.68 PAB 2.68

60.82%

Local Cheese (1kg)

$11.07 $11.07

$12.42 PAB 12.42

-10.87%

Chicken Fillets (1kg)

$9.40 $9.40

$6.73 PAB 6.73

39.67%

Beef Round Steak (1kg)

$19.42 $19.42

$10.44 PAB 10.44

86.02%

Apples (1kg)

$4.93 $4.93

$4.21 PAB 4.21

17.10%

Banana (1kg)

$1.42 $1.42

$1.95 PAB 1.95

-27.18%

Oranges (1kg)

$4.57 $4.57

$4.07 PAB 4.07

12.29%

Tomato (1kg)

$4.64 $4.64

$4.02 PAB 4.02

15.42%

Potato (1kg)

$2.41 $2.41

$3.46 PAB 3.46

-30.35%

Onion (1kg)

$2.51 $2.51

$4.42 PAB 4.42

-43.21%

Lettuce (1 head)

$2.21 $2.21

$2.43 PAB 2.43

-9.05%

Water (1.5 liter bottle)

$1.77 $1.77

$1.72 PAB 1.72

2.91%

Cigarettes 20 Pack (Marlboro, Camel)

$10.38 $10.38

$6.04 PAB 6.04

71.85%

Wine (Bottle)

$16.49 $16.49

$11.68 PAB 11.68

41.18%

Local Beer (0.5 liter bottle)

$2.50 $2.50

$1.41 PAB 1.41

77.30%

Imported Beer (0.33 liter bottle)

$2.73 $2.73

$2.74 PAB 2.74

-0.36%

One-way Ticket (Public Transport)

$0.33 PAB 0.33

Public Transport Monthly Pass (Regular Price)

$20.65 PAB 20.65

Taxi Start (Normal Tariff)

$2.54 $2.54

$2.45 PAB 2.45

3.67%

Taxi (Normal Tariff) (1km)

$1.60 $1.60

$1.76 PAB 1.76

-9.09%

Taxi 1hour Waiting (Normal Tariff)

$25.26 $25.26

$21.86 PAB 21.86

15.55%

Gasoline (1 liter)

$1.06 $1.06

$1.20 PAB 1.20

-11.67%

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

$27.9K $27.9K

$24.6K PAB 24.6K

13.64%

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

$25.5K $25.5K

$20.9K PAB 20.9K

21.96%

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

$197 $197

$132 PAB 132

49.66%

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

$55.2 $55.2

$27.89 PAB 27.89

98.03%

Internet (50+ Mbps, Unlimited Data)

$69.1 $69.1

$49.10 PAB 49.10

40.69%

Gym Membership (Monthly)

$24.50 $24.50

$44.53 PAB 44.53

-44.98%

Tennis Court (1 Hour on Weekend)

$34.01 PAB 34.01

Cinema Ticket

$12.16 $12.16

$8.70 PAB 8.70

39.77%

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

$1,290 $1,290

$537 PAB 537

140.37%

International Primary School, 1 Child (Yearly)

$11.6K $11.6K

$20.5K PAB 20.5K

-43.22%

Jeans (Levis 501 Or Similar)

$59.5 $59.5

$65.8 PAB 65.8

-9.54%

Summer Dress (H&M, Zara, etc)

$35.51 $35.51

$48.45 PAB 48.45

-26.71%

Sport Shoes (Adidas, Nike)

$81.4 $81.4

$95.4 PAB 95.4

-14.68%

Men's Leather Business Shoes

$104 $104

$114 PAB 114

-8.70%

1-bedroom Apartment, City Center (Monthly)

$1,991 $1,991

$1,405 PAB 1,405

41.72%

1-bedroom Apartment, Outside City Center (Monthly)

$1,978 $1,978

$994 PAB 994

99.01%

3-bedroom Apartment, City Center (Monthly)

$3,040 $3,040

$2,221 PAB 2,221

36.88%

3-bedroom Apartment, Outside City Center (Monthly)

$2,965 $2,965

$1,714 PAB 1,714

73.01%

Buy Apartment in City Center (m2)

$3,139 PAB 3,139

Buy Apartment Outside City Center (m2)

$1,724 PAB 1,724

Average Monthly Net Salary (After Tax)

$936 PAB 936

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 Monument, CO: October 31, 2026

Last update for Panama City: November 3, 2026

Monthly budget structure

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

Accommodation & Living

Monument, CO

$2K 61.7%

Panama City

$994 50.4% 49.8% $984

Groceries & Markets

Monument, CO

$374 11.7%

Panama City

$326 16.5% 12.9% $48

Eating Out

Monument, CO

$348 10.8%

Panama City

$203 10.3% 41.6% $145

Monthly Utilities & Internet

Monument, CO

$322 10%

Panama City

$209 10.6% 35.1% $113

Clothing & Footwear

Monument, CO

$126 3.9%

Panama City

$145 7.4% 15.4% $19

Sport & Entertainment

Monument, CO

$49 1.5%

Panama City

$62 3.1% 26.8% $13

Getting Around

Monument, CO

$11 * 0.3%

Panama City

$33 1.7% 215% $23

Categories marked with * are only partly priced – their share counts the items that do have prices.

Cost Breakdown

A central one-bedroom costs $1,991 in Monument, CO versus $1,405 in Panama City. Rent is usually the largest line item in a monthly budget, so the gap here sets the tone for the overall comparison.

A mid-range dinner for two costs $80 in Monument, CO versus $47 in Panama City. Monthly groceries follow the same trend: $374 vs $326 – making Panama City the more affordable choice for daily food spending.

Good to know

🇺🇸 Monument, CO

🇵🇦 Panama City

🕒 Local time

05:59 5:59 AM

07:59 7:59 AM

2 h ahead of Monument, CO

🌤 Weather

👥 Population

10,000

1,086,990 Capital

💱 Currency

United States Dollar USD $

Panamanian Balboa PAB B/.

📈 Exchange rate

1 USD = 0.89 EUR

1 PAB = 1 USD

1 PAB = 0.89 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 = 0.89 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 = 0.89 EUR).

PAB to USD in detail →

On the map

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Highest

Between locations

Monument, CO Panama City 4,190 km ≈ 6 h nonstop flight

From you

Monument, 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

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

Yes – Monument, CO is pricier by about 63%, and outside of rent the gap shows up most in eating out.

For a comfortable life, plan on about $4,810 per month in Monument, CO and $2,958 in Panama City. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Rent is clearly cheaper in Panama City, especially for central apartments: a one-bedroom in the center costs $1,405 there versus $1,991 in Monument, CO.

A mid-range dinner for two costs $80 in Monument, CO and $47 in Panama City. That’s a good indicator of the overall restaurant and café pricing gap between the two cities.

Groceries cost about 15% more in Monument, CO, though the gap depends on what you buy.

A $2,500 monthly budget goes further in Panama City, where all-in costs run around $1,972, than in Monument, CO at $3,207. In Panama City it covers expenses comfortably, while in Monument, CO it requires careful planning or may not stretch far enough.

Families tend to lean toward Panama City – lower housing and cheaper childcare make a real difference, especially on a single income or when paying for private education.