Last update: Oct 2026

Cost of Living Comparison Between Panama City and Cottonwood, AZ

For one person, living is cheaper in Panama City: $1,857 a month against $2,828 in Cottonwood, AZ, rent and utilities included – about $11,700 less a year. Rent and utilities account for most of the difference.

90

Cost of Living Index in Panama City
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Panama City Living Index
136

Cost of Living Index in Cottonwood, AZ
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Cottonwood, AZ Living Index

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Panama City

🇵🇦 Panama

$1,857

/mo nomad

Cottonwood, AZ

🇺🇸 United States

$2,828

/mo nomad

Monthly Cost of Living

How much you'll spend in Panama City and in Cottonwood, AZ

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 Cottonwood, AZ actually costs, broken down by who's living it.

A single person spends $1,857 per month in Panama City vs $2,828 in Cottonwood, AZ, rent included.

Panama City $1,857
Cottonwood, AZ $2,828

A couple spends around $2,815 per month in Panama City vs $3,947 in Cottonwood, AZ, rent included.

Panama City $2,815
Cottonwood, AZ $3,947

A family of three spends $3,773 per month in Panama City vs $5,065 in Cottonwood, AZ, rent included.

Panama City $3,773
Cottonwood, AZ $5,065

Panama City is about 34% cheaper than Cottonwood, AZ, and outside of rent the biggest gap is in eating out.

Both Panama City and Cottonwood, AZ sit above the global median – Panama City by 37%, Cottonwood, AZ by 109%.

Meal at Budget Restaurant

$11.68 PAB 11.68

$19.72 $19.72

-40.77%

Three-Course Dinner for Two, Mid-Range

$47.76 PAB 47.76

$59.1 $59.1

-19.20%

Fast Food Meal (McDonalds, etc)

$8.12 PAB 8.12

$14.29 $14.29

-43.18%

Cappuccino

$4.23 PAB 4.23

$6.16 $6.16

-31.33%

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

$1.92 PAB 1.92

$1.99 $1.99

-3.52%

Water (0.33 liter bottle)

$1.58 PAB 1.58

$2.02 $2.02

-21.78%

Local Beer (0.5 liter draught)

$3.31 PAB 3.31

$6.09 $6.09

-45.65%

Imported Beer (0.33 liter bottle)

$3.98 PAB 3.98

$4.86 $4.86

-18.11%

Milk (1 liter)

$1.92 PAB 1.92

$0.83 $0.83

131.33%

White Bread (500g)

$2.63 PAB 2.63

$4.13 $4.13

-36.32%

Rice (white) (1kg)

$3.39 PAB 3.39

$4.51 $4.51

-24.83%

Eggs

$2.67 PAB 2.67

$4.36 $4.36

-38.76%

Local Cheese (1kg)

$12.21 PAB 12.21

$14.05 $14.05

-13.10%

Chicken Fillets (1kg)

$6.91 PAB 6.91

$11.68 $11.68

-40.84%

Beef Round Steak (1kg)

$10.58 PAB 10.58

$14.79 $14.79

-28.47%

Apples (1kg)

$4.16 PAB 4.16

$5.38 $5.38

-22.68%

Banana (1kg)

$1.97 PAB 1.97

$1.97 $1.97

Oranges (1kg)

$4.06 PAB 4.06

$4.17 $4.17

-2.64%

Tomato (1kg)

$4.18 PAB 4.18

$5.59 $5.59

-25.22%

Potato (1kg)

$3.47 PAB 3.47

$1.76 $1.76

97.16%

Onion (1kg)

$4.26 PAB 4.26

$2.23 $2.23

91.03%

Lettuce (1 head)

$2.44 PAB 2.44

$2.28 $2.28

7.02%

Water (1.5 liter bottle)

$1.69 PAB 1.69

$2.50 $2.50

-32.40%

Cigarettes 20 Pack (Marlboro, Camel)

$5.83 PAB 5.83

$11.15 $11.15

-47.71%

Wine (Bottle)

$11.43 PAB 11.43

$14.33 $14.33

-20.24%

Local Beer (0.5 liter bottle)

$1.38 PAB 1.38

$2.42 $2.42

-42.98%

Imported Beer (0.33 liter bottle)

$2.76 PAB 2.76

$3.18 $3.18

-13.21%

One-way Ticket (Public Transport)

$0.33 PAB 0.33

Public Transport Monthly Pass (Regular Price)

$20.63 PAB 20.63

Taxi Start (Normal Tariff)

$2.55 PAB 2.55

$2.68 $2.68

-4.85%

Taxi (Normal Tariff) (1km)

$1.78 PAB 1.78

$1.36 $1.36

30.88%

Taxi 1hour Waiting (Normal Tariff)

$22.17 PAB 22.17

$35.84 $35.84

-38.14%

Gasoline (1 liter)

$1.24 PAB 1.24

$1.24 $1.24

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

$24.4K PAB 24.4K

$35.9K $35.9K

-32.08%

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

$21.3K PAB 21.3K

$26.6K $26.6K

-19.93%

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

$131 PAB 131

$222 $222

-40.75%

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

$27.83 PAB 27.83

$80.1 $80.1

-65.24%

Internet (50+ Mbps, Unlimited Data)

$49.32 PAB 49.32

$66.8 $66.8

-26.15%

Gym Membership (Monthly)

$45.69 PAB 45.69

Tennis Court (1 Hour on Weekend)

$34.10 PAB 34.10

Cinema Ticket

$8.47 PAB 8.47

$13.68 $13.68

-38.08%

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

$553 PAB 553

$1,834 $1,834

-69.82%

International Primary School, 1 Child (Yearly)

$9,719 PAB 9,719

$23.0K $23.0K

-57.71%

Jeans (Levis 501 Or Similar)

$66.4 PAB 66.4

$62.8 $62.8

5.80%

Summer Dress (H&M, Zara, etc)

$47.39 PAB 47.39

$42.63 $42.63

11.17%

Sport Shoes (Adidas, Nike)

$95.7 PAB 95.7

$109 $109

-12.17%

Men's Leather Business Shoes

$113 PAB 113

$136 $136

-17.02%

1-bedroom Apartment, City Center (Monthly)

$1,322 PAB 1,322

$1,624 $1,624

-18.57%

1-bedroom Apartment, Outside City Center (Monthly)

$874 PAB 874

$1,525 $1,525

-42.68%

3-bedroom Apartment, City Center (Monthly)

$2,153 PAB 2,153

$2,267 $2,267

-5.05%

3-bedroom Apartment, Outside City Center (Monthly)

$1,580 PAB 1,580

$2,299 $2,299

-31.26%

Buy Apartment in City Center (m2)

$3,097 PAB 3,097

$3,063 $3,063

1.13%

Buy Apartment Outside City Center (m2)

$1,698 PAB 1,698

$3,002 $3,002

-43.43%

Average Monthly Net Salary (After Tax)

$914 PAB 914

$2,745 $2,745

-66.70%

20-Year Fixed Mortgage Interest Rate (Annual %)

6.39

6.50%

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

Last update for Panama City: October 20, 2026

Last update for Cottonwood, AZ: October 18, 2026

Monthly budget structure

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

Accommodation & Living

Panama City

$874 47.1%

Cottonwood, AZ

$1.5K 53.9% 74.5% $651

Groceries & Markets

Panama City

$327 17.6%

Cottonwood, AZ

$409 14.5% 25.3% $83

Monthly Utilities & Internet

Panama City

$208 11.2%

Cottonwood, AZ

$368 13% 76.8% $160

Eating Out

Panama City

$207 11.2%

Cottonwood, AZ

$331 11.7% 59.7% $124

Clothing & Footwear

Panama City

$145 7.8%

Cottonwood, AZ

$158 5.6% 8.7% $13

Sport & Entertainment

Panama City

$63 3.4%

Cottonwood, AZ

$27 * 1% 56.3% $35

Getting Around

Panama City

$33 1.8%

Cottonwood, AZ

$9.5 * 0.3% 71.7% $24

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

Cost Breakdown

A central one-bedroom costs $1,322 in Panama City versus $1,624 in Cottonwood, AZ. 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 200% higher in Cottonwood, AZ, 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 $48.00 in Panama City versus $59.0 in Cottonwood, AZ. Monthly groceries follow the same trend: $327 vs $409 – making Panama City the more affordable choice for daily food spending.

Good to know

🇵🇦 Panama City

🇺🇸 Cottonwood, AZ

🕒 Local time

18:50 6:50 PM

16:50 4:50 PM

2 h behind Panama City

🌤 Weather

👥 Population

1,086,990 Capital

12,000

💱 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 October 20, 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 October 20, 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 Cottonwood, AZ 4,370 km ≈ 6 h nonstop flight

From you

Panama City
Cottonwood, AZ

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 Cottonwood, AZ: Cost of Living - Frequently Asked Questions

Cottonwood, AZ costs about 52% 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 $2,786 per month in Panama City and $4,242 in Cottonwood, AZ. 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. Housing is actually the single biggest factor behind the overall cost gap between these two cities.

A mid-range dinner for two costs $48.00 in Panama City and $59.0 in Cottonwood, AZ. That's a good indicator of the overall restaurant and café pricing gap between the two cities.

Groceries cost about 25% more in Cottonwood, AZ, though it depends on what you buy. Local produce may be comparable; imported and premium items show the biggest price gap.

A $2,500 monthly budget goes further in Panama City, where all-in costs run around $1,857, than in Cottonwood, AZ at $2,828. In Panama City it covers expenses comfortably, while in Cottonwood, AZ it requires careful planning or may not stretch far enough.

For digital nomads, it depends on budget. Panama City costs $1,857 versus $2,828 in Cottonwood, AZ. Both have workable remote work infrastructure, but the cost gap matters when income varies month to month.

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