Cost of Living in Panama, IA

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17%
Overall NAT. AVG.
1%
Groceries NAT. AVG.
49%
Housing NAT. AVG.
Date & Last Updated: These cost of living estimates reflect 2026 modeled data using U.S. Census housing inputs and AI-assisted city-level pricing models.
The cost of living index is based on a national average of 100. For example, if the cost of living score is 90, then the estimated cost of living is 10% lower than the national average. If the score is 110, then the estimated cost of living is 10% higher than average. The overall index is calculated using weighted estimates across major everyday expense categories, including housing (30%), groceries (16%), transportation (12%), healthcare (10%), utilities (8%), lifestyle and entertainment (8%), household expenses (8%), and education and childcare (8%). All values are AI-assisted city-level estimates designed for directional comparisons.
Index Panama Iowa National
Cost of living8389100
Groceries9997100
Health care9496100
Housing5174100
Transportation9897100
Utilities9895100
Lifestyle & Entertainment9695100
Household Items9797100
Education & Childcare9694100
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Cost Of Living Quick Facts

  • The cost of living in Panama is 7% lower than the Iowa average
  • The cost of living in Panama is 17% lower than the national average
  • Panama housing is 49% lower than the national average
  • Iowa general sales tax is 18% higher than the national average
  • Iowa state income tax is 69% higher than the national average

Most Affordable Places to Live in and Around Panama

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Compare Panama, IA Cost of Living

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      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index
      Lifestyle index
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      Educare index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$112,932$9,411$2,635$3,388
      Renters$90,435$7,536$2,110$2,713

      Iowa Sales Tax

      State General Sales Tax With Max Surtax
      Iowa 6% 7%

      Iowa Income Tax

      State Income Tax (Low) Income Tax (High)
      Iowa 4.4% 6%

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Corley, IA7973.0%
      Buck Grove, IA367623.8%
      Tennant, IA788019.8%
      Irwin, IA3368119.2%
      Manilla, IA8498218.5%
      Panama, IA2838316.7%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Goodyear Village, AZ2838613.7%
      Westcreek, CO28314241.7%
      Kilbourne, LA283918.8%
      Unity, ME283955.4%
      Gagetown, MI2838119.0%
      Panama, IA2838316.7%
      Date & Last Updated: These cost of living estimates reflect 2026 modeled data using U.S. Census housing inputs and AI-assisted city-level pricing models.
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