Last update: Nov 2026

Cost of Living Comparison Between Panama City and Billings, MT

For one person, living is cheaper in Panama City: $1,972 a month against $2,390 in Billings, MT, rent and utilities included – about $5,000 less a year. Other living expenses account for most of the difference.

95

Cost of Living Index in Panama City
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Panama City Living Index
114

Cost of Living Index in Billings, MT
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Billings, MT Living Index

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Panama City

🇵🇦 Panama

$1,972

/mo nomad

Billings, MT

🇺🇸 United States

$2,390

/mo nomad

Monthly Cost of Living

How much you'll spend in Panama City and in Billings, MT

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

A single person spends $1,972 per month in Panama City vs $2,390 in Billings, MT, rent included.

Panama City $1,972
Billings, MT $2,390

A couple spends around $2,930 per month in Panama City vs $3,554 in Billings, MT, rent included.

Panama City $2,930
Billings, MT $3,554

A family of three spends $3,888 per month in Panama City vs $4,718 in Billings, MT, rent included.

Panama City $3,888
Billings, MT $4,718

Panama City is about 18% cheaper than Billings, MT, and outside of rent the biggest gap is in eating out.

Both Panama City and Billings, MT sit above the global median – Panama City by 46%, Billings, MT by 77%.

Meal at Budget Restaurant

$11.37 PAB 11.37

$25.92 $25.92

-56.13%

Three-Course Dinner for Two, Mid-Range

$46.69 PAB 46.69

$76.2 $76.2

-38.69%

Fast Food Meal (McDonalds, etc)

$7.98 PAB 7.98

$13.32 $13.32

-40.09%

Cappuccino

$4.12 PAB 4.12

$6.35 $6.35

-35.12%

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

$2.01 PAB 2.01

$2.51 $2.51

-19.92%

Water (0.33 liter bottle)

$1.57 PAB 1.57

$1.65 $1.65

-4.85%

Local Beer (0.5 liter draught)

$3.28 PAB 3.28

$4.21 $4.21

-22.09%

Imported Beer (0.33 liter bottle)

$3.88 PAB 3.88

$5.02 $5.02

-22.71%

Milk (1 liter)

$1.82 PAB 1.82

$1.00 $1.00

82.00%

White Bread (500g)

$2.61 PAB 2.61

$3.44 $3.44

-24.13%

Rice (white) (1kg)

$3.45 PAB 3.45

$3.15 $3.15

9.52%

Eggs

$2.68 PAB 2.68

$3.15 $3.15

-14.92%

Local Cheese (1kg)

$12.42 PAB 12.42

$11.83 $11.83

4.99%

Chicken Fillets (1kg)

$6.73 PAB 6.73

$11.72 $11.72

-42.58%

Beef Round Steak (1kg)

$10.44 PAB 10.44

$17.67 $17.67

-40.92%

Apples (1kg)

$4.21 PAB 4.21

$3.52 $3.52

19.60%

Banana (1kg)

$1.95 PAB 1.95

$1.44 $1.44

35.42%

Oranges (1kg)

$4.07 PAB 4.07

$2.87 $2.87

41.81%

Tomato (1kg)

$4.02 PAB 4.02

$4.69 $4.69

-14.29%

Potato (1kg)

$3.46 PAB 3.46

$1.18 $1.18

193.22%

Onion (1kg)

$4.42 PAB 4.42

$1.97 $1.97

124.37%

Lettuce (1 head)

$2.43 PAB 2.43

$2.39 $2.39

1.67%

Water (1.5 liter bottle)

$1.72 PAB 1.72

$1.47 $1.47

17.01%

Cigarettes 20 Pack (Marlboro, Camel)

$6.04 PAB 6.04

$9.82 $9.82

-38.49%

Wine (Bottle)

$11.68 PAB 11.68

$10.70 $10.70

9.16%

Local Beer (0.5 liter bottle)

$1.41 PAB 1.41

$2.26 $2.26

-37.61%

Imported Beer (0.33 liter bottle)

$2.74 PAB 2.74

$5.18 $5.18

-47.10%

One-way Ticket (Public Transport)

$0.33 PAB 0.33

$2.02 $2.02

-83.66%

Public Transport Monthly Pass (Regular Price)

$20.65 PAB 20.65

$28.45 $28.45

-27.42%

Taxi Start (Normal Tariff)

$2.45 PAB 2.45

$2.44 $2.44

0.41%

Taxi (Normal Tariff) (1km)

$1.76 PAB 1.76

$1.40 $1.40

25.71%

Taxi 1hour Waiting (Normal Tariff)

$21.86 PAB 21.86

$60.9 $60.9

-64.08%

Gasoline (1 liter)

$1.20 PAB 1.20

$1.02 $1.02

17.65%

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

$24.6K PAB 24.6K

$29.2K $29.2K

-15.85%

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

$20.9K PAB 20.9K

$23.9K $23.9K

-12.64%

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

$132 PAB 132

$175 $175

-24.69%

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

$27.89 PAB 27.89

$49.70 $49.70

-43.88%

Internet (50+ Mbps, Unlimited Data)

$49.10 PAB 49.10

$82.9 $82.9

-40.77%

Gym Membership (Monthly)

$44.53 PAB 44.53

$41.56 $41.56

7.15%

Tennis Court (1 Hour on Weekend)

$34.01 PAB 34.01

$14.97 $14.97

127.19%

Cinema Ticket

$8.70 PAB 8.70

$14.02 $14.02

-37.95%

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

$537 PAB 537

$1,066 $1,066

-49.63%

International Primary School, 1 Child (Yearly)

$20.5K PAB 20.5K

$8,517 $8,517

140.90%

Jeans (Levis 501 Or Similar)

$65.8 PAB 65.8

$59.0 $59.0

11.56%

Summer Dress (H&M, Zara, etc)

$48.45 PAB 48.45

$66.9 $66.9

-27.52%

Sport Shoes (Adidas, Nike)

$95.4 PAB 95.4

$99.3 $99.3

-3.93%

Men's Leather Business Shoes

$114 PAB 114

$120 $120

-5.41%

1-bedroom Apartment, City Center (Monthly)

$1,405 PAB 1,405

$1,198 $1,198

17.24%

1-bedroom Apartment, Outside City Center (Monthly)

$994 PAB 994

$1,085 $1,085

-8.37%

3-bedroom Apartment, City Center (Monthly)

$2,221 PAB 2,221

$1,860 $1,860

19.42%

3-bedroom Apartment, Outside City Center (Monthly)

$1,714 PAB 1,714

$1,804 $1,804

-4.99%

Buy Apartment in City Center (m2)

$3,139 PAB 3,139

$2,525 $2,525

24.31%

Buy Apartment Outside City Center (m2)

$1,724 PAB 1,724

$2,047 $2,047

-15.78%

Average Monthly Net Salary (After Tax)

$936 PAB 936

$3,874 $3,874

-75.84%

20-Year Fixed Mortgage Interest Rate (Annual %)

6.39

6.4

-0.16%

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

Last update for Panama City: November 3, 2026

Last update for Billings, MT: November 1, 2026

Monthly budget structure

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

Accommodation & Living

Panama City

$994 50.4%

Billings, MT

$1.1K 45.4% 9.1% $91

Groceries & Markets

Panama City

$326 16.5%

Billings, MT

$356 14.9% 9.2% $30

Monthly Utilities & Internet

Panama City

$209 10.6%

Billings, MT

$308 12.9% 47.3% $99

Eating Out

Panama City

$203 10.3%

Billings, MT

$371 15.5% 83% $168

Clothing & Footwear

Panama City

$145 7.4%

Billings, MT

$155 6.5% 6.8% $9.9

Sport & Entertainment

Panama City

$62 3.1%

Billings, MT

$70 2.9% 12.4% $7.7

Getting Around

Panama City

$33 1.7%

Billings, MT

$46 1.9% 38.3% $13

Cost Breakdown

A central one-bedroom costs $1,405 in Panama City versus $1,198 in Billings, MT. Rent is usually the largest line item in a monthly budget, so the gap here sets the tone for the overall comparison.

Salaries in Billings, MT are about 4.1 times higher. Purchasing power depends on which expenses matter most to you.

A mid-range dinner for two costs $47 in Panama City versus $76 in Billings, MT. Monthly groceries follow the same trend: $326 vs $356 – making Panama City the more affordable choice for daily food spending.

Good to know

🇵🇦 Panama City

🇺🇸 Billings, MT

🕒 Local time

12:46 12:46 PM

10:46 10:46 AM

2 h behind Panama City

🌤 Weather

👥 Population

1,086,990 Capital

117,116

💱 Currency

Panamanian Balboa PAB B/.

United States Dollar USD $

📈 Exchange rate

1 PAB = 1 USD

1 PAB = 0.89 EUR

1 USD = 0.89 EUR

Exchange rates and currency converter

USD, EUR to PAB – Panamanian Balboa Converter

🇺🇸 United States Dollar ($)

🇵🇦 Panamanian Balboa (B/.)

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).

United States Dollar exchange rates as of November 6, 2026: 1 EUR = 1.12 USD (1 USD = 0.89 EUR).

USD to PAB in detail →

On the map

Lowest

Highest

Between locations

Panama City Billings, MT 4,940 km ≈ 7 h nonstop flight

From you

Panama City
Billings, MT

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 vs Billings, MT: Cost of Living - Frequently Asked Questions

Billings, MT costs about 21% more than Panama City, and outside of rent the gap comes mainly from eating out. That’s enough to noticeably affect everyday spending and lifestyle for anyone choosing between the two.

For a comfortable life, plan on about $2,958 per month in Panama City and $3,586 in Billings, MT. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Rent is clearly cheaper in Billings, MT, especially for central apartments: a one-bedroom in the center costs $1,198 there versus $1,405 in Panama City.

Public transport costs about 27% less in Panama City. For daily commuters, that gap adds up to noticeable savings over a year.

Kindergarten costs $537 per month in Panama City and $1,066 in Billings, MT. For families with young kids, this one expense can tip the scales when choosing between the two cities.

It depends on your priorities. Panama City has an edge in some lifestyle areas, with costs from $1,972 in Panama City to $2,390 in Billings, MT. Climate, culture, job market, and personal taste all factor in.

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