Last update: Nov 2026

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

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.

138

Cost of Living Index in Santa Fe, NM
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Santa Fe, NM Living Index
95

Cost of Living Index in Panama City
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Panama City Living Index

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Santa Fe, NM

🇺🇸 United States

$2,850

/mo nomad

Panama City

🇵🇦 Panama

$1,972

/mo nomad

Monthly Cost of Living

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

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

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

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

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

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

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

Santa Fe, NM costs about 45% more than Panama City, and outside of rent the biggest gap is in eating out.

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

Meal at Budget Restaurant

$16.85 $16.85

$11.37 PAB 11.37

48.20%

Three-Course Dinner for Two, Mid-Range

$60.5 $60.5

$46.69 PAB 46.69

29.49%

Fast Food Meal (McDonalds, etc)

$9.87 $9.87

$7.98 PAB 7.98

23.68%

Cappuccino

$4.93 $4.93

$4.12 PAB 4.12

19.66%

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

$2.91 $2.91

$2.01 PAB 2.01

44.78%

Water (0.33 liter bottle)

$2.32 $2.32

$1.57 PAB 1.57

47.77%

Local Beer (0.5 liter draught)

$6.05 $6.05

$3.28 PAB 3.28

84.45%

Imported Beer (0.33 liter bottle)

$6.90 $6.90

$3.88 PAB 3.88

77.84%

Milk (1 liter)

$0.92 $0.92

$1.82 PAB 1.82

-49.45%

White Bread (500g)

$3.19 $3.19

$2.61 PAB 2.61

22.22%

Rice (white) (1kg)

$4.40 $4.40

$3.45 PAB 3.45

27.54%

Eggs

$4.28 $4.28

$2.68 PAB 2.68

59.70%

Local Cheese (1kg)

$11.76 $11.76

$12.42 PAB 12.42

-5.31%

Chicken Fillets (1kg)

$9.41 $9.41

$6.73 PAB 6.73

39.82%

Beef Round Steak (1kg)

$16.97 $16.97

$10.44 PAB 10.44

62.55%

Apples (1kg)

$4.90 $4.90

$4.21 PAB 4.21

16.39%

Banana (1kg)

$1.48 $1.48

$1.95 PAB 1.95

-24.10%

Oranges (1kg)

$3.90 $3.90

$4.07 PAB 4.07

-4.18%

Tomato (1kg)

$4.41 $4.41

$4.02 PAB 4.02

9.70%

Potato (1kg)

$3.23 $3.23

$3.46 PAB 3.46

-6.65%

Onion (1kg)

$2.03 $2.03

$4.42 PAB 4.42

-54.07%

Lettuce (1 head)

$2.05 $2.05

$2.43 PAB 2.43

-15.64%

Water (1.5 liter bottle)

$2.47 $2.47

$1.72 PAB 1.72

43.60%

Cigarettes 20 Pack (Marlboro, Camel)

$10.82 $10.82

$6.04 PAB 6.04

79.14%

Wine (Bottle)

$16.21 $16.21

$11.68 PAB 11.68

38.78%

Local Beer (0.5 liter bottle)

$2.05 $2.05

$1.41 PAB 1.41

45.39%

Imported Beer (0.33 liter bottle)

$3.57 $3.57

$2.74 PAB 2.74

30.29%

One-way Ticket (Public Transport)

$0.97 $0.97

$0.33 PAB 0.33

193.94%

Public Transport Monthly Pass (Regular Price)

$20.07 $20.07

$20.65 PAB 20.65

-2.81%

Taxi Start (Normal Tariff)

$3.49 $3.49

$2.45 PAB 2.45

42.45%

Taxi (Normal Tariff) (1km)

$2.22 $2.22

$1.76 PAB 1.76

26.14%

Taxi 1hour Waiting (Normal Tariff)

$34.87 $34.87

$21.86 PAB 21.86

59.52%

Gasoline (1 liter)

$1.08 $1.08

$1.20 PAB 1.20

-10.00%

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

$26.8K $26.8K

$24.6K PAB 24.6K

9.35%

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

$25.3K $25.3K

$20.9K PAB 20.9K

21.34%

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

$160 $160

$132 PAB 132

21.09%

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

$44.85 $44.85

$27.89 PAB 27.89

60.81%

Internet (50+ Mbps, Unlimited Data)

$68.9 $68.9

$49.10 PAB 49.10

40.37%

Gym Membership (Monthly)

$68.0 $68.0

$44.53 PAB 44.53

52.68%

Tennis Court (1 Hour on Weekend)

$34.01 PAB 34.01

Cinema Ticket

$13.05 $13.05

$8.70 PAB 8.70

50.00%

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

$1,353 $1,353

$537 PAB 537

152.13%

International Primary School, 1 Child (Yearly)

$22.7K $22.7K

$20.5K PAB 20.5K

10.49%

Jeans (Levis 501 Or Similar)

$54.0 $54.0

$65.8 PAB 65.8

-18.01%

Summer Dress (H&M, Zara, etc)

$44.19 $44.19

$48.45 PAB 48.45

-8.79%

Sport Shoes (Adidas, Nike)

$79.0 $79.0

$95.4 PAB 95.4

-17.20%

Men's Leather Business Shoes

$116 $116

$114 PAB 114

2.23%

1-bedroom Apartment, City Center (Monthly)

$2,184 $2,184

$1,405 PAB 1,405

55.45%

1-bedroom Apartment, Outside City Center (Monthly)

$1,642 $1,642

$994 PAB 994

65.17%

3-bedroom Apartment, City Center (Monthly)

$2,929 $2,929

$2,221 PAB 2,221

31.87%

3-bedroom Apartment, Outside City Center (Monthly)

$2,314 $2,314

$1,714 PAB 1,714

35.07%

Buy Apartment in City Center (m2)

$6,131 $6,131

$3,139 PAB 3,139

95.34%

Buy Apartment Outside City Center (m2)

$3,761 $3,761

$1,724 PAB 1,724

118.22%

Average Monthly Net Salary (After Tax)

$3,862 $3,862

$936 PAB 936

312.67%

20-Year Fixed Mortgage Interest Rate (Annual %)

6.64

6.39

3.91%

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

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

Last update for Panama City: November 3, 2026

Monthly budget structure

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

Accommodation & Living

Santa Fe, NM

$1.6K 57.6%

Panama City

$994 50.4% 39.5% $648

Groceries & Markets

Santa Fe, NM

$381 13.4%

Panama City

$326 16.5% 14.6% $56

Eating Out

Santa Fe, NM

$289 10.1%

Panama City

$203 10.3% 29.7% $86

Monthly Utilities & Internet

Santa Fe, NM

$273 9.6%

Panama City

$209 10.6% 23.6% $65

Clothing & Footwear

Santa Fe, NM

$132 4.6%

Panama City

$145 7.4% 10.2% $14

Sport & Entertainment

Santa Fe, NM

$94 3.3%

Panama City

$62 3.1% 34.2% $32

Getting Around

Santa Fe, NM

$39 1.4%

Panama City

$33 1.7% 13.8% $5.3

Cost Breakdown

A central one-bedroom costs $2,184 in Santa Fe, NM versus $1,405 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 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 $60 in Santa Fe, NM versus $47 in Panama City. Monthly groceries follow the same trend: $381 vs $326 – making Panama City the more affordable choice for daily food spending.

Good to know

🇺🇸 Santa Fe, NM

🇵🇦 Panama City

🕒 Local time

08:21 8:21 AM

10:21 10:21 AM

2 h ahead of Santa Fe, NM

🌤 Weather

👥 Population

87,505

1,086,990 Capital

💱 Currency

United States Dollar USD $

Panamanian Balboa PAB B/.

📈 Exchange rate

1 USD = 0.89 EUR

1 PAB = 1 USD

1 PAB = 0.89 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 November 6, 2026: 1 EUR = 1.12 USD (1 USD = 0.89 EUR).

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).

PAB to USD in detail →

On the map

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Between locations

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

From you

Santa Fe, NM
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

Santa Fe, NM vs Panama City: 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 $4,275 per month in Santa Fe, NM and $2,958 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: 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 $60 in Santa Fe, NM and $47 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 $1,972, 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.