Cost of Living in Panama, IA
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
92.2
100 = national avg
-7.8 vs national average
Living Wage (1 Adult)
$40,572
per year
Living Wage (Family of 4)
$95,899
per year
Cost Index by Category
Housing86.6
Food96.8
Transportation93.6
Healthcare97.5
Utilities95.4
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$838
per month
2 Bedroom
$919
per month
The overall cost of living index in Panama is 92.2, which is 7.8% below the national average. Housing costs are below the national average at an index of 86.6. A single adult needs to earn approximately $40,572 per year to cover basic expenses.