Last update: Oct 2026

Cost of Living Comparison Between Phoenix, AZ and Panama City

For one person, living is cheaper in Panama City: $1,837 a month against $2,970 in Phoenix, AZ, rent and utilities included – about $13,600 less a year. Rent and utilities account for most of the difference.

143

Cost of Living Index in Phoenix, AZ
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Phoenix, AZ Living Index
90

Cost of Living Index in Panama City
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Panama City Living Index

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Phoenix, AZ

🇺🇸 United States

$2,970

/mo nomad

Panama City

🇵🇦 Panama

$1,837

/mo nomad

Monthly Cost of Living

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

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

A single person spends $2,970 per month in Phoenix, AZ vs $1,837 in Panama City, rent included.

Phoenix, AZ $2,970
Panama City $1,837

A couple spends around $4,233 per month in Phoenix, AZ vs $2,825 in Panama City, rent included.

Phoenix, AZ $4,233
Panama City $2,825

A family of three spends $5,495 per month in Phoenix, AZ vs $3,812 in Panama City, rent included.

Phoenix, AZ $5,495
Panama City $3,812

Phoenix, AZ costs about 62% more than Panama City, and outside of rent the biggest gap is in eating out.

Both Phoenix, AZ and Panama City sit above the global median – Phoenix, AZ by 122%, Panama City by 37%.

Meal at Budget Restaurant

$20.10 $20.10

$11.34 PAB 11.34

77.25%

Three-Course Dinner for Two, Mid-Range

$84.1 $84.1

$47.85 PAB 47.85

75.65%

Fast Food Meal (McDonalds, etc)

$14.67 $14.67

$8.07 PAB 8.07

81.78%

Cappuccino

$6.01 $6.01

$4.02 PAB 4.02

49.50%

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

$3.15 $3.15

$1.94 PAB 1.94

62.37%

Water (0.33 liter bottle)

$2.37 $2.37

$1.62 PAB 1.62

46.30%

Local Beer (0.5 liter draught)

$6.12 $6.12

$3.26 PAB 3.26

87.73%

Imported Beer (0.33 liter bottle)

$8.20 $8.20

$3.99 PAB 3.99

105.51%

Milk (1 liter)

$0.86 $0.86

$1.83 PAB 1.83

-53.01%

White Bread (500g)

$4.10 $4.10

$2.57 PAB 2.57

59.53%

Rice (white) (1kg)

$6.40 $6.40

$3.33 PAB 3.33

92.19%

Eggs

$4.31 $4.31

$2.69 PAB 2.69

60.22%

Local Cheese (1kg)

$14.05 $14.05

$12.33 PAB 12.33

13.95%

Chicken Fillets (1kg)

$13.69 $13.69

$6.69 PAB 6.69

104.63%

Beef Round Steak (1kg)

$14.54 $14.54

$10.40 PAB 10.40

39.81%

Apples (1kg)

$5.43 $5.43

$4.16 PAB 4.16

30.53%

Banana (1kg)

$1.96 $1.96

$1.84 PAB 1.84

6.52%

Oranges (1kg)

$4.13 $4.13

$4.18 PAB 4.18

-1.20%

Tomato (1kg)

$5.98 $5.98

$4.08 PAB 4.08

46.57%

Potato (1kg)

$3.62 $3.62

$3.50 PAB 3.50

3.43%

Onion (1kg)

$3.04 $3.04

$4.37 PAB 4.37

-30.43%

Lettuce (1 head)

$2.30 $2.30

$2.34 PAB 2.34

-1.71%

Water (1.5 liter bottle)

$2.54 $2.54

$1.75 PAB 1.75

45.14%

Cigarettes 20 Pack (Marlboro, Camel)

$10.64 $10.64

$6.06 PAB 6.06

75.58%

Wine (Bottle)

$14.61 $14.61

$11.72 PAB 11.72

24.66%

Local Beer (0.5 liter bottle)

$2.38 $2.38

$1.37 PAB 1.37

73.72%

Imported Beer (0.33 liter bottle)

$3.14 $3.14

$2.84 PAB 2.84

10.56%

One-way Ticket (Public Transport)

$1.95 $1.95

$0.36 PAB 0.36

441.67%

Public Transport Monthly Pass (Regular Price)

$63.5 $63.5

$20.96 PAB 20.96

202.96%

Taxi Start (Normal Tariff)

$2.72 $2.72

$2.52 PAB 2.52

7.94%

Taxi (Normal Tariff) (1km)

$1.40 $1.40

$1.79 PAB 1.79

-21.79%

Taxi 1hour Waiting (Normal Tariff)

$35.78 $35.78

$22.01 PAB 22.01

62.56%

Gasoline (1 liter)

$1.19 $1.19

$1.25 PAB 1.25

-4.80%

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

$36.7K $36.7K

$21.5K PAB 21.5K

70.21%

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

$26.2K $26.2K

$21.2K PAB 21.2K

23.73%

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

$233 $233

$131 PAB 131

77.64%

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

$78.9 $78.9

$27.68 PAB 27.68

185.01%

Internet (50+ Mbps, Unlimited Data)

$76.4 $76.4

$48.59 PAB 48.59

57.17%

Gym Membership (Monthly)

$66.0 $66.0

$46.11 PAB 46.11

43.07%

Tennis Court (1 Hour on Weekend)

$19.36 $19.36

$35.01 PAB 35.01

-44.70%

Cinema Ticket

$13.81 $13.81

$8.73 PAB 8.73

58.19%

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

$1,830 $1,830

$551 PAB 551

232.34%

International Primary School, 1 Child (Yearly)

$22.8K $22.8K

$9,560 PAB 9,560

138.56%

Jeans (Levis 501 Or Similar)

$62.9 $62.9

$67.6 PAB 67.6

-6.95%

Summer Dress (H&M, Zara, etc)

$43.12 $43.12

$48.03 PAB 48.03

-10.22%

Sport Shoes (Adidas, Nike)

$110 $110

$94.9 PAB 94.9

15.78%

Men's Leather Business Shoes

$134 $134

$113 PAB 113

18.74%

1-bedroom Apartment, City Center (Monthly)

$1,785 $1,785

$1,238 PAB 1,238

44.21%

1-bedroom Apartment, Outside City Center (Monthly)

$1,421 $1,421

$873 PAB 873

62.75%

3-bedroom Apartment, City Center (Monthly)

$3,257 $3,257

$2,197 PAB 2,197

48.25%

3-bedroom Apartment, Outside City Center (Monthly)

$2,126 $2,126

$1,538 PAB 1,538

38.24%

Buy Apartment in City Center (m2)

$4,706 $4,706

$3,116 PAB 3,116

51.03%

Buy Apartment Outside City Center (m2)

$3,074 $3,074

$1,725 PAB 1,725

78.22%

Average Monthly Net Salary (After Tax)

$4,189 $4,189

$934 PAB 934

348.31%

20-Year Fixed Mortgage Interest Rate (Annual %)

6.63

6.39

3.76%

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

Last update for Phoenix, AZ: October 4, 2026

Last update for Panama City: October 3, 2026

Monthly budget structure

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

Accommodation & Living

Phoenix, AZ

$1.4K 48.6%

Panama City

$873 47.2% 38.6% $548

Groceries & Markets

Phoenix, AZ

$436 14.9%

Panama City

$324 17.5% 25.6% $112

Monthly Utilities & Internet

Phoenix, AZ

$388 13.3%

Panama City

$207 11.2% 46.6% $181

Eating Out

Phoenix, AZ

$346 11.8%

Panama City

$202 10.9% 41.7% $144

Clothing & Footwear

Phoenix, AZ

$158 5.4%

Panama City

$146 7.9% 7.6% $12

Sport & Entertainment

Phoenix, AZ

$94 3.2%

Panama City

$64 3.4% 32.1% $30

Getting Around

Phoenix, AZ

$81 2.8%

Panama City

$34 1.8% 58.2% $47

Cost Breakdown

A central one-bedroom costs $1,785 in Phoenix, AZ versus $1,238 in Panama City. 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 348% higher in Phoenix, 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 $84.0 in Phoenix, AZ versus $48.00 in Panama City. Monthly groceries follow the same trend: $436 vs $324 – making Panama City the more affordable choice for daily food spending.

Good to know

🇺🇸 Phoenix, AZ

🇵🇦 Panama City

🕒 Local time

05:18 5:18 AM

07:18 7:18 AM

2 h ahead of Phoenix, AZ

🌤 Weather

👥 Population

1,608,139

1,086,990 Capital

💱 Currency

United States Dollar USD $

Panamanian Balboa PAB B/.

📈 Exchange rate

1 USD = 0.892 EUR

1 PAB = 1 USD

1 PAB = 0.892 EUR

Exchange rates and currency converter

PAB, EUR to USD – United States Dollar Converter

🇵🇦 Panamanian Balboa (B/.)

🇺🇸 United States Dollar ($)

United States Dollar exchange rates as of October 10, 2026: 1 EUR = 1.12 USD (1 USD = 0.892 EUR).

Panamanian Balboa exchange rates as of October 10, 2026: 1 USD = 1 PAB (1 PAB = 1 USD). 1 EUR = 1.12 PAB (1 PAB = 0.892 EUR).

PAB to USD in detail →

On the map

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Between locations

Phoenix, AZ Panama City 4,300 km ≈ 6 h nonstop flight

From you

Phoenix, AZ
Panama City

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

Phoenix, AZ vs Panama City: Cost of Living - Frequently Asked Questions

Yes – Phoenix, AZ is pricier by about 62%, and outside of rent the gap shows up most in eating out.

For a comfortable life, plan on about $4,456 per month in Phoenix, AZ and $2,756 in Panama City. 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.

Groceries cost about 34% more in Phoenix, AZ, though it depends on what you buy. Local produce may be comparable; imported and premium items show the biggest price gap.

A mid-range dinner for two costs $84.0 in Phoenix, AZ and $48.00 in Panama City. 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 $1,837, than in Phoenix, AZ at $2,970. In Panama City it covers expenses comfortably, while in Phoenix, AZ 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, better infrastructure, or specific career opportunities are the priority, Phoenix, AZ makes more sense. Both are solid long-term options with distinct trade-offs.