Last update: Nov 2026

Cost of Living Comparison Between Panama City and Santa Fe, NM

For one person, living is cheaper in Panama City: $1,972 a month against $2,850 in Santa Fe, NM, rent and utilities included – about $10,500 less a year. Rent and utilities account for most of the difference.

95

Cost of Living Index in Panama City
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Panama City Living Index
138

Cost of Living Index in Santa Fe, NM
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Santa Fe, NM Living Index

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Panama City

🇵🇦 Panama

$1,972

/mo nomad

Santa Fe, NM

🇺🇸 United States

$2,850

/mo nomad

Monthly Cost of Living

How much you'll spend in Panama City and in Santa Fe, 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 Santa Fe, NM actually costs, broken down by who's living it.

A single person spends $1,972 per month in Panama City vs $2,850 in Santa Fe, NM, rent included.

Panama City $1,972
Santa Fe, NM $2,850

A couple spends around $2,930 per month in Panama City vs $3,895 in Santa Fe, NM, rent included.

Panama City $2,930
Santa Fe, NM $3,895

A family of three spends $3,888 per month in Panama City vs $4,940 in Santa Fe, NM, rent included.

Panama City $3,888
Santa Fe, NM $4,940

Panama City is about 31% cheaper than Santa Fe, NM, and outside of rent the biggest gap is in eating out.

Both Panama City and Santa Fe, NM sit above the global median – Panama City by 46%, Santa Fe, NM by 111%.

Meal at Budget Restaurant

$11.37 PAB 11.37

$16.85 $16.85

-32.52%

Three-Course Dinner for Two, Mid-Range

$46.69 PAB 46.69

$60.5 $60.5

-22.78%

Fast Food Meal (McDonalds, etc)

$7.98 PAB 7.98

$9.87 $9.87

-19.15%

Cappuccino

$4.12 PAB 4.12

$4.93 $4.93

-16.43%

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

$2.01 PAB 2.01

$2.91 $2.91

-30.93%

Water (0.33 liter bottle)

$1.57 PAB 1.57

$2.32 $2.32

-32.33%

Local Beer (0.5 liter draught)

$3.28 PAB 3.28

$6.05 $6.05

-45.79%

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

$0.92 $0.92

97.83%

White Bread (500g)

$2.61 PAB 2.61

$3.19 $3.19

-18.18%

Rice (white) (1kg)

$3.45 PAB 3.45

$4.40 $4.40

-21.59%

Eggs

$2.68 PAB 2.68

$4.28 $4.28

-37.38%

Local Cheese (1kg)

$12.42 PAB 12.42

$11.76 $11.76

5.61%

Chicken Fillets (1kg)

$6.73 PAB 6.73

$9.41 $9.41

-28.48%

Beef Round Steak (1kg)

$10.44 PAB 10.44

$16.97 $16.97

-38.48%

Apples (1kg)

$4.21 PAB 4.21

$4.90 $4.90

-14.08%

Banana (1kg)

$1.95 PAB 1.95

$1.48 $1.48

31.76%

Oranges (1kg)

$4.07 PAB 4.07

$3.90 $3.90

4.36%

Tomato (1kg)

$4.02 PAB 4.02

$4.41 $4.41

-8.84%

Potato (1kg)

$3.46 PAB 3.46

$3.23 $3.23

7.12%

Onion (1kg)

$4.42 PAB 4.42

$2.03 $2.03

117.73%

Lettuce (1 head)

$2.43 PAB 2.43

$2.05 $2.05

18.54%

Water (1.5 liter bottle)

$1.72 PAB 1.72

$2.47 $2.47

-30.36%

Cigarettes 20 Pack (Marlboro, Camel)

$6.04 PAB 6.04

$10.82 $10.82

-44.18%

Wine (Bottle)

$11.68 PAB 11.68

$16.21 $16.21

-27.95%

Local Beer (0.5 liter bottle)

$1.41 PAB 1.41

$2.05 $2.05

-31.22%

Imported Beer (0.33 liter bottle)

$2.74 PAB 2.74

$3.57 $3.57

-23.25%

One-way Ticket (Public Transport)

$0.33 PAB 0.33

$0.97 $0.97

-65.98%

Public Transport Monthly Pass (Regular Price)

$20.65 PAB 20.65

$20.07 $20.07

2.89%

Taxi Start (Normal Tariff)

$2.45 PAB 2.45

$3.49 $3.49

-29.80%

Taxi (Normal Tariff) (1km)

$1.76 PAB 1.76

$2.22 $2.22

-20.72%

Taxi 1hour Waiting (Normal Tariff)

$21.86 PAB 21.86

$34.87 $34.87

-37.31%

Gasoline (1 liter)

$1.20 PAB 1.20

$1.08 $1.08

11.11%

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

$24.6K PAB 24.6K

$26.8K $26.8K

-8.55%

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

$20.9K PAB 20.9K

$25.3K $25.3K

-17.59%

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

$132 PAB 132

$160 $160

-17.42%

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

$27.89 PAB 27.89

$44.85 $44.85

-37.81%

Internet (50+ Mbps, Unlimited Data)

$49.10 PAB 49.10

$68.9 $68.9

-28.76%

Gym Membership (Monthly)

$44.53 PAB 44.53

$68.0 $68.0

-34.51%

Tennis Court (1 Hour on Weekend)

$34.01 PAB 34.01

Cinema Ticket

$8.70 PAB 8.70

$13.05 $13.05

-33.33%

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

$537 PAB 537

$1,353 $1,353

-60.34%

International Primary School, 1 Child (Yearly)

$20.5K PAB 20.5K

$22.7K $22.7K

-9.49%

Jeans (Levis 501 Or Similar)

$65.8 PAB 65.8

$54.0 $54.0

21.96%

Summer Dress (H&M, Zara, etc)

$48.45 PAB 48.45

$44.19 $44.19

9.64%

Sport Shoes (Adidas, Nike)

$95.4 PAB 95.4

$79.0 $79.0

20.77%

Men's Leather Business Shoes

$114 PAB 114

$116 $116

-2.18%

1-bedroom Apartment, City Center (Monthly)

$1,405 PAB 1,405

$2,184 $2,184

-35.67%

1-bedroom Apartment, Outside City Center (Monthly)

$994 PAB 994

$1,642 $1,642

-39.45%

3-bedroom Apartment, City Center (Monthly)

$2,221 PAB 2,221

$2,929 $2,929

-24.17%

3-bedroom Apartment, Outside City Center (Monthly)

$1,714 PAB 1,714

$2,314 $2,314

-25.96%

Buy Apartment in City Center (m2)

$3,139 PAB 3,139

$6,131 $6,131

-48.81%

Buy Apartment Outside City Center (m2)

$1,724 PAB 1,724

$3,761 $3,761

-54.17%

Average Monthly Net Salary (After Tax)

$936 PAB 936

$3,862 $3,862

-75.77%

20-Year Fixed Mortgage Interest Rate (Annual %)

6.39

6.64

-3.77%

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

Last update for Panama City: November 3, 2026

Last update for Santa Fe, NM: November 1, 2026

Monthly budget structure

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

Accommodation & Living

Panama City

$994 50.4%

Santa Fe, NM

$1.6K 57.6% 65.2% $648

Groceries & Markets

Panama City

$326 16.5%

Santa Fe, NM

$381 13.4% 17.1% $56

Monthly Utilities & Internet

Panama City

$209 10.6%

Santa Fe, NM

$273 9.6% 30.9% $65

Eating Out

Panama City

$203 10.3%

Santa Fe, NM

$289 10.1% 42.2% $86

Clothing & Footwear

Panama City

$145 7.4%

Santa Fe, NM

$132 4.6% 9.3% $14

Sport & Entertainment

Panama City

$62 3.1%

Santa Fe, NM

$94 3.3% 51.9% $32

Getting Around

Panama City

$33 1.7%

Santa Fe, NM

$39 1.4% 16% $5.3

Cost Breakdown

A central one-bedroom costs $1,405 in Panama City versus $2,184 in Santa Fe, 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 Santa Fe, NM 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 $60 in Santa Fe, NM. Monthly groceries follow the same trend: $326 vs $381 – making Panama City the more affordable choice for daily food spending.

Good to know

🇵🇦 Panama City

🇺🇸 Santa Fe, NM

🕒 Local time

16:30 4:30 PM

14:30 2:30 PM

2 h behind Panama City

🌤 Weather

👥 Population

1,086,990 Capital

87,505

💱 Currency

Panamanian Balboa PAB B/.

United States Dollar USD $

📈 Exchange rate

1 PAB = 1 USD

1 PAB = 0.895 EUR

1 USD = 0.895 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 = 0.895 EUR).

United States Dollar exchange rates as of November 6, 2026: 1 EUR = 1.12 USD (1 USD = 0.895 EUR).

USD to PAB in detail →

On the map

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Between locations

Panama City Santa Fe, NM 4,000 km ≈ 5 h nonstop flight

From you

Panama City
Santa Fe, 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 Santa Fe, NM: Cost of Living - Frequently Asked Questions

Yes – Santa Fe, NM is pricier by about 45%, and outside of rent the gap shows up most in eating out.

For a comfortable life, plan on about $2,958 per month in Panama City and $4,275 in Santa Fe, NM. 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: a one-bedroom in the center costs $1,405 there versus $2,184 in Santa Fe, NM.

Groceries cost about 17% more in Santa Fe, NM, though the gap depends on what you buy.

A mid-range dinner for two costs $47 in Panama City and $60 in Santa Fe, NM. That’s a good indicator of the overall restaurant and café pricing gap between the two cities.

A $2,500 monthly budget goes further in Panama City, where all-in costs run around $1,972, than in Santa Fe, NM at $2,850. In Panama City it covers expenses comfortably, while in Santa Fe, NM it requires careful planning or may not stretch far enough.

Families tend to lean toward Panama City – 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. If higher salaries or specific career opportunities are the priority, Santa Fe, NM makes more sense. Both are solid long-term options with distinct trade-offs.