Last update: Nov 2026

Cost of Living Comparison Between Panama City and Carlsbad, NM

For one person, living is cheaper in Panama City: $1,972 a month against $2,199 in Carlsbad, NM, rent and utilities included – about $2,700 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
105

Cost of Living Index in Carlsbad, NM
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Carlsbad, NM Living Index

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Panama City

🇵🇦 Panama

$1,972

/mo nomad

Carlsbad, NM

🇺🇸 United States

$2,199

/mo nomad

Monthly Cost of Living

How much you'll spend in Panama City and in Carlsbad, NM

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 Carlsbad, NM actually costs, broken down by who's living it.

A single person spends $1,972 per month in Panama City vs $2,199 in Carlsbad, NM, rent included.

Panama City $1,972
Carlsbad, NM $2,199

A couple spends around $2,930 per month in Panama City vs $3,149 in Carlsbad, NM, rent included.

Panama City $2,930
Carlsbad, NM $3,149

A family of three spends $3,888 per month in Panama City vs $4,099 in Carlsbad, NM, rent included.

Panama City $3,888
Carlsbad, NM $4,099

Panama City is about 10% cheaper than Carlsbad, NM, and outside of rent the biggest gap is in eating out.

Both Panama City and Carlsbad, NM sit above the global median – Panama City by 46%, Carlsbad, NM by 63%.

Meal at Budget Restaurant

$11.37 PAB 11.37

$17.79 $17.79

-36.09%

Three-Course Dinner for Two, Mid-Range

$46.69 PAB 46.69

$45.14 $45.14

3.43%

Fast Food Meal (McDonalds, etc)

$7.98 PAB 7.98

$11.76 $11.76

-32.14%

Cappuccino

$4.12 PAB 4.12

$5.86 $5.86

-29.69%

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

$2.01 PAB 2.01

$1.53 $1.53

31.37%

Water (0.33 liter bottle)

$1.57 PAB 1.57

$1.26 $1.26

24.60%

Local Beer (0.5 liter draught)

$3.28 PAB 3.28

$4.85 $4.85

-32.37%

Imported Beer (0.33 liter bottle)

$3.88 PAB 3.88

$6.90 $6.90

-43.77%

Milk (1 liter)

$1.82 PAB 1.82

$0.80 $0.80

127.50%

White Bread (500g)

$2.61 PAB 2.61

$3.50 $3.50

-25.43%

Rice (white) (1kg)

$3.45 PAB 3.45

$3.61 $3.61

-4.43%

Eggs

$2.68 PAB 2.68

$4.64 $4.64

-42.24%

Local Cheese (1kg)

$12.42 PAB 12.42

$13.35 $13.35

-6.97%

Chicken Fillets (1kg)

$6.73 PAB 6.73

$12.12 $12.12

-44.47%

Beef Round Steak (1kg)

$10.44 PAB 10.44

$17.69 $17.69

-40.98%

Apples (1kg)

$4.21 PAB 4.21

$4.26 $4.26

-1.17%

Banana (1kg)

$1.95 PAB 1.95

$2.03 $2.03

-3.94%

Oranges (1kg)

$4.07 PAB 4.07

$3.54 $3.54

14.97%

Tomato (1kg)

$4.02 PAB 4.02

$3.89 $3.89

3.34%

Potato (1kg)

$3.46 PAB 3.46

$2.32 $2.32

49.14%

Onion (1kg)

$4.42 PAB 4.42

$2.42 $2.42

82.64%

Lettuce (1 head)

$2.43 PAB 2.43

$1.79 $1.79

35.75%

Water (1.5 liter bottle)

$1.72 PAB 1.72

$1.88 $1.88

-8.51%

Cigarettes 20 Pack (Marlboro, Camel)

$6.04 PAB 6.04

$10.95 $10.95

-44.84%

Wine (Bottle)

$11.68 PAB 11.68

$15.05 $15.05

-22.39%

Local Beer (0.5 liter bottle)

$1.41 PAB 1.41

$2.46 $2.46

-42.68%

Imported Beer (0.33 liter bottle)

$2.74 PAB 2.74

$3.67 $3.67

-25.34%

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)

$2.45 PAB 2.45

$2.35 $2.35

4.26%

Taxi (Normal Tariff) (1km)

$1.76 PAB 1.76

$2.40 $2.40

-26.67%

Taxi 1hour Waiting (Normal Tariff)

$21.86 PAB 21.86

Gasoline (1 liter)

$1.20 PAB 1.20

$0.91 $0.91

31.87%

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

$24.6K PAB 24.6K

$27.9K $27.9K

-11.89%

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

$20.9K PAB 20.9K

$24.4K $24.4K

-14.34%

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

$132 PAB 132

$172 $172

-23.22%

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

$27.89 PAB 27.89

$57.7 $57.7

-51.62%

Internet (50+ Mbps, Unlimited Data)

$49.10 PAB 49.10

$75.3 $75.3

-34.75%

Gym Membership (Monthly)

$44.53 PAB 44.53

$41.58 $41.58

7.09%

Tennis Court (1 Hour on Weekend)

$34.01 PAB 34.01

Cinema Ticket

$8.70 PAB 8.70

$10.12 $10.12

-14.03%

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

$537 PAB 537

$663 $663

-19.09%

International Primary School, 1 Child (Yearly)

$20.5K PAB 20.5K

$6,636 $6,636

209.17%

Jeans (Levis 501 Or Similar)

$65.8 PAB 65.8

$58.1 $58.1

13.25%

Summer Dress (H&M, Zara, etc)

$48.45 PAB 48.45

$31.94 $31.94

51.69%

Sport Shoes (Adidas, Nike)

$95.4 PAB 95.4

$83.9 $83.9

13.66%

Men's Leather Business Shoes

$114 PAB 114

$101 $101

12.12%

1-bedroom Apartment, City Center (Monthly)

$1,405 PAB 1,405

$1,225 $1,225

14.68%

1-bedroom Apartment, Outside City Center (Monthly)

$994 PAB 994

$1,009 $1,009

-1.46%

3-bedroom Apartment, City Center (Monthly)

$2,221 PAB 2,221

$1,975 $1,975

12.43%

3-bedroom Apartment, Outside City Center (Monthly)

$1,714 PAB 1,714

$1,591 $1,591

7.70%

Buy Apartment in City Center (m2)

$3,139 PAB 3,139

$2,002 $2,002

56.81%

Buy Apartment Outside City Center (m2)

$1,724 PAB 1,724

$2,003 $2,003

-13.93%

Average Monthly Net Salary (After Tax)

$936 PAB 936

$4,106 $4,106

-77.21%

20-Year Fixed Mortgage Interest Rate (Annual %)

6.39

5.61

13.90%

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

Last update for Panama City: November 3, 2026

Last update for Carlsbad, NM: October 31, 2026

Monthly budget structure

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

Accommodation & Living

Panama City

$994 50.4%

Carlsbad, NM

$1K 45.9% 1.5% $15

Groceries & Markets

Panama City

$326 16.5%

Carlsbad, NM

$388 17.7% 19.2% $62

Monthly Utilities & Internet

Panama City

$209 10.6%

Carlsbad, NM

$305 13.9% 45.9% $96

Eating Out

Panama City

$203 10.3%

Carlsbad, NM

$297 13.5% 46.5% $94

Clothing & Footwear

Panama City

$145 7.4%

Carlsbad, NM

$124 5.6% 14.8% $22

Sport & Entertainment

Panama City

$62 3.1%

Carlsbad, NM

$62 2.8% 0.2% $0.1

Getting Around

Panama City

$33 1.7%

Carlsbad, NM

$14 * 0.7% 56.8% $19

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

Cost Breakdown

A central one-bedroom costs $1,405 in Panama City versus $1,225 in Carlsbad, NM. Rent is usually the largest line item in a monthly budget, so the gap here sets the tone for the overall comparison.

Salaries in Carlsbad, NM are about 4.4 times higher. Purchasing power depends on which expenses matter most to you.

A mid-range dinner for two costs $47 in Panama City versus $45 in Carlsbad, NM. Groceries tell a different story – $326 in Panama City vs $388 in Carlsbad, NM – so Panama City wins on supermarket bills even if dining out costs more.

Good to know

🇵🇦 Panama City

🇺🇸 Carlsbad, NM

🕒 Local time

06:57 6:57 AM

04:57 4:57 AM

2 h behind Panama City

🌤 Weather

👥 Population

1,086,990 Capital

114,746

💱 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

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Highest

Between locations

Panama City Carlsbad, NM 3,640 km ≈ 5 h nonstop flight

From you

Panama City
Carlsbad, NM

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 Carlsbad, NM: Cost of Living - Frequently Asked Questions

Monthly costs with rent: $1,972 in Panama City, $2,199 in Carlsbad, NM – Panama City comes out roughly 10% cheaper. Outside of rent, the biggest gap is in eating out.

For a comfortable life, plan on about $2,958 per month in Panama City and $3,298 in Carlsbad, NM. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Rent is clearly cheaper in Carlsbad, NM, especially for central apartments: a one-bedroom in the center costs $1,225 there versus $1,405 in Panama City.

A mid-range dinner for two costs $47 in Panama City and $45 in Carlsbad, NM. That’s a good indicator of the overall restaurant and café pricing gap between the two cities.

Groceries cost about 19% more in Carlsbad, NM, though the gap depends on what you buy.

$2,500 covers both cities comfortably – all-in costs are $1,972 in Panama City and $2,199 in Carlsbad, NM, leaving budget for savings and extras in both cases.

It depends on your priorities. Panama City has an edge in some lifestyle areas, with costs from $1,972 in Panama City to $2,199 in Carlsbad, NM. 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, Carlsbad, NM makes more sense. Both are solid long-term options with distinct trade-offs.