Last update: Oct 2026

Cost of Living Comparison Between New York, NY and Panama City, FL

For one person, living is cheaper in Panama City, FL: $2,409 a month against $4,941 in New York, NY, rent and utilities included – about $30,400 less a year. Rent and utilities account for most of the difference.

239

Cost of Living Index in New York, NY
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New York, NY Living Index
115

Cost of Living Index in Panama City, FL
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Panama City, FL Living Index

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New York, NY

🇺🇸 United States

$4,941

/mo nomad

Panama City, FL

🇺🇸 United States

$2,409

/mo nomad

Monthly Cost of Living

How much you'll spend in New York, NY and in Panama City, FL

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

A single person spends $4,941 per month in New York, NY vs $2,409 in Panama City, FL, rent included.

New York, NY $4,941
Panama City, FL $2,409

A couple spends around $7,225 per month in New York, NY vs $3,287 in Panama City, FL, rent included.

New York, NY $7,225
Panama City, FL $3,287

A family of three spends $9,509 per month in New York, NY vs $4,165 in Panama City, FL, rent included.

New York, NY $9,509
Panama City, FL $4,165

New York, NY costs about 105% more than Panama City, FL, and outside of rent the biggest gap is in groceries.

Both New York, NY and Panama City, FL sit above the global median – New York, NY by 263%, Panama City, FL by 77%.

Meal at Budget Restaurant

$28.55 $28.55

$18.74 $18.74

52.35%

Three-Course Dinner for Two, Mid-Range

$118 $118

$54.0 $54.0

119.35%

Fast Food Meal (McDonalds, etc)

$15.04 $15.04

$12.11 $12.11

24.19%

Cappuccino

$6.53 $6.53

$5.60 $5.60

16.61%

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

$3.96 $3.96

$2.89 $2.89

37.02%

Water (0.33 liter bottle)

$3.01 $3.01

$1.70 $1.70

77.06%

Local Beer (0.5 liter draught)

$8.16 $8.16

$5.10 $5.10

60.00%

Imported Beer (0.33 liter bottle)

$9.84 $9.84

$7.12 $7.12

38.20%

Milk (1 liter)

$1.37 $1.37

$0.90 $0.90

52.22%

White Bread (500g)

$4.97 $4.97

$3.46 $3.46

43.64%

Rice (white) (1kg)

$7.81 $7.81

$2.66 $2.66

193.61%

Eggs

$5.97 $5.97

$3.30 $3.30

80.91%

Local Cheese (1kg)

$18.91 $18.91

$10.78 $10.78

75.42%

Chicken Fillets (1kg)

$18.04 $18.04

$11.61 $11.61

55.38%

Beef Round Steak (1kg)

$19.05 $19.05

$14.64 $14.64

30.12%

Apples (1kg)

$6.76 $6.76

$4.10 $4.10

64.88%

Banana (1kg)

$2.27 $2.27

$1.49 $1.49

52.35%

Oranges (1kg)

$6.83 $6.83

$2.73 $2.73

150.18%

Tomato (1kg)

$7.09 $7.09

$4.30 $4.30

64.88%

Potato (1kg)

$4.22 $4.22

$3.11 $3.11

35.69%

Onion (1kg)

$4.65 $4.65

$2.84 $2.84

63.73%

Lettuce (1 head)

$2.87 $2.87

$2.09 $2.09

37.32%

Water (1.5 liter bottle)

$2.60 $2.60

$2.22 $2.22

17.12%

Cigarettes 20 Pack (Marlboro, Camel)

$18.77 $18.77

$9.31 $9.31

101.61%

Wine (Bottle)

$20.13 $20.13

$12.15 $12.15

65.68%

Local Beer (0.5 liter bottle)

$3.45 $3.45

$1.70 $1.70

102.94%

Imported Beer (0.33 liter bottle)

$4.02 $4.02

$3.86 $3.86

4.15%

One-way Ticket (Public Transport)

$2.91 $2.91

$1.46 $1.46

99.32%

Public Transport Monthly Pass (Regular Price)

$139 $139

$35.52 $35.52

291.10%

Taxi Start (Normal Tariff)

$3.08 $3.08

$2.55 $2.55

20.78%

Taxi (Normal Tariff) (1km)

$2.12 $2.12

$1.51 $1.51

40.40%

Taxi 1hour Waiting (Normal Tariff)

$41.96 $41.96

$26.17 $26.17

60.34%

Gasoline (1 liter)

$1.17 $1.17

$0.98 $0.98

19.39%

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

$34.5K $34.5K

$27.5K $27.5K

25.38%

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

$25.9K $25.9K

-0.37%

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

$219 $219

$169 $169

29.56%

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

$74.2 $74.2

$44.38 $44.38

67.28%

Internet (50+ Mbps, Unlimited Data)

$70.2 $70.2

$59.5 $59.5

17.92%

Gym Membership (Monthly)

$112 $112

$24.35 $24.35

359.75%

Tennis Court (1 Hour on Weekend)

$74.9 $74.9

Cinema Ticket

$22.14 $22.14

$12.87 $12.87

72.03%

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

$3,558 $3,558

$618 $618

475.76%

International Primary School, 1 Child (Yearly)

$62.2K $62.2K

$13.9K $13.9K

348.71%

Jeans (Levis 501 Or Similar)

$75.6 $75.6

$48.26 $48.26

56.67%

Summer Dress (H&M, Zara, etc)

$51.2 $51.2

$40.43 $40.43

26.64%

Sport Shoes (Adidas, Nike)

$123 $123

$84.5 $84.5

45.82%

Men's Leather Business Shoes

$140 $140

$95.9 $95.9

45.80%

1-bedroom Apartment, City Center (Monthly)

$4,499 $4,499

$921 $921

388.44%

1-bedroom Apartment, Outside City Center (Monthly)

$3,078 $3,078

$1,248 $1,248

146.71%

3-bedroom Apartment, City Center (Monthly)

$9,447 $9,447

$1,673 $1,673

464.70%

3-bedroom Apartment, Outside City Center (Monthly)

$5,190 $5,190

$1,662 $1,662

212.31%

Buy Apartment in City Center (m2)

$18.1K $18.1K

$3,269 $3,269

453.90%

Buy Apartment Outside City Center (m2)

$6,693 $6,693

$2,694 $2,694

148.39%

Average Monthly Net Salary (After Tax)

$5,220 $5,220

$3,980 $3,980

31.16%

20-Year Fixed Mortgage Interest Rate (Annual %)

6.86

6.54

4.89%

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

Last update for New York, NY: October 26, 2026

Last update for Panama City, FL: October 27, 2026

Monthly budget structure

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

Accommodation & Living

New York, NY

$3.1K 62.3%

Panama City, FL

$1.2K 51.8% 59.5% $1.8K

Groceries & Markets

New York, NY

$563 11.4%

Panama City, FL

$354 14.7% 37.1% $209

Eating Out

New York, NY

$440 8.9%

Panama City, FL

$312 12.9% 29.2% $129

Monthly Utilities & Internet

New York, NY

$364 7.4%

Panama City, FL

$273 11.3% 24.9% $91

Clothing & Footwear

New York, NY

$175 3.6%

Panama City, FL

$121 5% 31% $54

Getting Around

New York, NY

$164 3.3%

Panama City, FL

$51 2.1% 68.7% $113

Sport & Entertainment

New York, NY

$156 3.2%

Panama City, FL

$50 2.1% 67.9% $106

Cost Breakdown

A central one-bedroom costs $4,499 in New York, NY versus $921 in Panama City, FL. Rent is usually the largest line item in a monthly budget, so the gap here sets the tone for the overall comparison.

Salaries run about 31% higher in New York, NY, which partly offsets the higher cost of living there. Purchasing power depends on which expenses matter most to you.

A mid-range dinner for two costs $118 in New York, NY versus $54 in Panama City, FL. Monthly groceries follow the same trend: $563 vs $354 – making Panama City, FL the more affordable choice for daily food spending.

Good to know

🇺🇸 New York, NY

🇺🇸 Panama City, FL

🕒 Local time

02:02 2:02 AM

01:02 1:02 AM

1 h behind New York, NY

🌤 Weather

👥 Population

8,804,190

36,484

💱 Currency

United States Dollar USD $

📈 Exchange rate

1 USD = 0.898 EUR

Exchange rates and currency converter

On the map

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Highest

Between locations

New York, NY Panama City, FL 1,560 km ≈ 2 h 30 min nonstop flight

From you

New York, NY
Panama City, FL

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

New York, NY vs Panama City, FL: Cost of Living - Frequently Asked Questions

New York, NY costs about 105% more than Panama City, FL, and outside of rent the gap comes mainly from groceries. That’s enough to noticeably affect everyday spending and lifestyle for anyone choosing between the two.

For a comfortable life, plan on about $7,412 per month in New York, NY and $3,614 in Panama City, FL. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Rent is clearly cheaper in Panama City, FL, especially for central apartments: a one-bedroom in the center costs $921 there versus $4,499 in New York, NY.

Kindergarten costs $3,558 per month in New York, NY and $618 in Panama City, FL. For families with young kids, this one expense can tip the scales when choosing between the two cities.

Groceries cost about 59% more in New York, NY, though the gap depends on what you buy.

$2,000 is a stretch for both – monthly costs hit $4,941 in New York, NY and $2,409 in Panama City, FL. You’ll need shared housing and careful budgeting no matter which city you pick.

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

If budget matters most, go with Panama City, FL. If higher salaries or specific career opportunities are the priority, New York, NY makes more sense. Both are solid long-term options with distinct trade-offs.