Housing costs in Panama?
A typical home costs
$183,100, which is 45.8% less expensive than the national average of
$338,100 and 6.1% less expensive than the average Iowa home, at
$194,900. Renting a two-bedroom unit in Panama costs
$820 per month, which is 42.7% cheaper than the national average of
$1,430 and 13.4% cheaper than the state average of
$930.
Can I afford Panama?
To live comfortably in Panama, Iowa, a minimum annual income of
$34,920 for a family, and
$27,600 for a single person is recommended.
What does A.I. say about Panama?
The cost of living in Panama, Iowa is incredibly low compared to the rest of the United States. The median home value is only $80,000, and the median household income is around $56,000. Additionally, housing prices are incredibly affordable; a two-bedroom apartment can be rented for just under $650 per month. The overall cost of living index is 89 (100 being the national average). This means that it costs about 11% less to live in Panama than it does to live in other parts of the country. For those looking for an affordable place to live with a small-town feel, Panama could be the perfect fit.