Last update: Oct 2026

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

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.

115

Cost of Living Index in Panama City, FL
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Panama City, FL Living Index
239

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

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Panama City, FL

🇺🇸 United States

$2,409

/mo nomad

New York, NY

🇺🇸 United States

$4,941

/mo nomad

Monthly Cost of Living

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

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

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

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

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

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

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

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

Panama City, FL is about 51% cheaper than New York, NY, and outside of rent the biggest gap is in groceries.

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

Meal at Budget Restaurant

$18.74 $18.74

$28.55 $28.55

-34.36%

Three-Course Dinner for Two, Mid-Range

$54.0 $54.0

$118 $118

-54.41%

Fast Food Meal (McDonalds, etc)

$12.11 $12.11

$15.04 $15.04

-19.48%

Cappuccino

$5.60 $5.60

$6.53 $6.53

-14.24%

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

$2.89 $2.89

$3.96 $3.96

-27.02%

Water (0.33 liter bottle)

$1.70 $1.70

$3.01 $3.01

-43.52%

Local Beer (0.5 liter draught)

$5.10 $5.10

$8.16 $8.16

-37.50%

Imported Beer (0.33 liter bottle)

$7.12 $7.12

$9.84 $9.84

-27.64%

Milk (1 liter)

$0.90 $0.90

$1.37 $1.37

-34.31%

White Bread (500g)

$3.46 $3.46

$4.97 $4.97

-30.38%

Rice (white) (1kg)

$2.66 $2.66

$7.81 $7.81

-65.94%

Eggs

$3.30 $3.30

$5.97 $5.97

-44.72%

Local Cheese (1kg)

$10.78 $10.78

$18.91 $18.91

-42.99%

Chicken Fillets (1kg)

$11.61 $11.61

$18.04 $18.04

-35.64%

Beef Round Steak (1kg)

$14.64 $14.64

$19.05 $19.05

-23.15%

Apples (1kg)

$4.10 $4.10

$6.76 $6.76

-39.35%

Banana (1kg)

$1.49 $1.49

$2.27 $2.27

-34.36%

Oranges (1kg)

$2.73 $2.73

$6.83 $6.83

-60.03%

Tomato (1kg)

$4.30 $4.30

$7.09 $7.09

-39.35%

Potato (1kg)

$3.11 $3.11

$4.22 $4.22

-26.30%

Onion (1kg)

$2.84 $2.84

$4.65 $4.65

-38.92%

Lettuce (1 head)

$2.09 $2.09

$2.87 $2.87

-27.18%

Water (1.5 liter bottle)

$2.22 $2.22

$2.60 $2.60

-14.62%

Cigarettes 20 Pack (Marlboro, Camel)

$9.31 $9.31

$18.77 $18.77

-50.40%

Wine (Bottle)

$12.15 $12.15

$20.13 $20.13

-39.64%

Local Beer (0.5 liter bottle)

$1.70 $1.70

$3.45 $3.45

-50.72%

Imported Beer (0.33 liter bottle)

$3.86 $3.86

$4.02 $4.02

-3.98%

One-way Ticket (Public Transport)

$1.46 $1.46

$2.91 $2.91

-49.83%

Public Transport Monthly Pass (Regular Price)

$35.52 $35.52

$139 $139

-74.43%

Taxi Start (Normal Tariff)

$2.55 $2.55

$3.08 $3.08

-17.21%

Taxi (Normal Tariff) (1km)

$1.51 $1.51

$2.12 $2.12

-28.77%

Taxi 1hour Waiting (Normal Tariff)

$26.17 $26.17

$41.96 $41.96

-37.63%

Gasoline (1 liter)

$0.98 $0.98

$1.17 $1.17

-16.24%

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

$27.5K $27.5K

$34.5K $34.5K

-20.24%

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)

$169 $169

$219 $219

-22.82%

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

$44.38 $44.38

$74.2 $74.2

-40.22%

Internet (50+ Mbps, Unlimited Data)

$59.5 $59.5

$70.2 $70.2

-15.20%

Gym Membership (Monthly)

$24.35 $24.35

$112 $112

-78.25%

Tennis Court (1 Hour on Weekend)

$74.9 $74.9

Cinema Ticket

$12.87 $12.87

$22.14 $22.14

-41.87%

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

$618 $618

$3,558 $3,558

-82.63%

International Primary School, 1 Child (Yearly)

$13.9K $13.9K

$62.2K $62.2K

-77.71%

Jeans (Levis 501 Or Similar)

$48.26 $48.26

$75.6 $75.6

-36.17%

Summer Dress (H&M, Zara, etc)

$40.43 $40.43

$51.2 $51.2

-21.04%

Sport Shoes (Adidas, Nike)

$84.5 $84.5

$123 $123

-31.42%

Men's Leather Business Shoes

$95.9 $95.9

$140 $140

-31.41%

1-bedroom Apartment, City Center (Monthly)

$921 $921

$4,499 $4,499

-79.53%

1-bedroom Apartment, Outside City Center (Monthly)

$1,248 $1,248

$3,078 $3,078

-59.47%

3-bedroom Apartment, City Center (Monthly)

$1,673 $1,673

$9,447 $9,447

-82.29%

3-bedroom Apartment, Outside City Center (Monthly)

$1,662 $1,662

$5,190 $5,190

-67.98%

Buy Apartment in City Center (m2)

$3,269 $3,269

$18.1K $18.1K

-81.95%

Buy Apartment Outside City Center (m2)

$2,694 $2,694

$6,693 $6,693

-59.74%

Average Monthly Net Salary (After Tax)

$3,980 $3,980

$5,220 $5,220

-23.76%

20-Year Fixed Mortgage Interest Rate (Annual %)

6.54

6.86

-4.66%

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

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

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

Monthly budget structure

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

Accommodation & Living

Panama City, FL

$1.2K 51.8%

New York, NY

$3.1K 62.3% 147% $1.8K

Groceries & Markets

Panama City, FL

$354 14.7%

New York, NY

$563 11.4% 59% $209

Eating Out

Panama City, FL

$312 12.9%

New York, NY

$440 8.9% 41.3% $129

Monthly Utilities & Internet

Panama City, FL

$273 11.3%

New York, NY

$364 7.4% 33.2% $91

Clothing & Footwear

Panama City, FL

$121 5%

New York, NY

$175 3.6% 44.9% $54

Getting Around

Panama City, FL

$51 2.1%

New York, NY

$164 3.3% 219% $113

Sport & Entertainment

Panama City, FL

$50 2.1%

New York, NY

$156 3.2% 212% $106

Cost Breakdown

A central one-bedroom costs $921 in Panama City, FL versus $4,499 in New York, NY. 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 $54 in Panama City, FL versus $118 in New York, NY. Monthly groceries follow the same trend: $354 vs $563 – making Panama City, FL the more affordable choice for daily food spending.

Good to know

🇺🇸 Panama City, FL

🇺🇸 New York, NY

🕒 Local time

07:02 7:02 AM

08:02 8:02 AM

1 h ahead of Panama City, FL

🌤 Weather

👥 Population

36,484

8,804,190

💱 Currency

United States Dollar USD $

📈 Exchange rate

1 USD = 0.896 EUR

Exchange rates and currency converter

On the map

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Between locations

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

From you

Panama City, FL
New York, NY

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

Panama City, FL vs New York, NY: 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 $3,614 per month in Panama City, FL and $7,412 in New York, NY. 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 $618 per month in Panama City, FL and $3,558 in New York, NY. 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 $2,409 in Panama City, FL and $4,941 in New York, NY. 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.