Hay Springs, NE vs Panama, NE

There is a significant gap in the cost of living between these two cities. Hay Springs is 29.9% cheaper than Panama. With a cost index of 60 vs 86, the difference would have a meaningful impact on a household's monthly budget. Someone relocating from Hay Springs to Panama should plan for substantially higher expenses across most categories.

On the housing front, median rent in Hay Springs is $692/month compared to $1,250/month in Panama — a 45% difference. Home values follow the same pattern: Hay Springs is more affordable at $91,900 median vs $196,000.

Median household income in Hay Springs is $45,833 compared to $89,583 in Panama (-48.8%). While Panama is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Hay Springs spend roughly 18.1% of their income on rent, more than the 16.7% in Panama.

Climate-wise, both cities share similar average temperatures (48.3°F vs 51.2°F). Panama receives more rainfall at 32.3" per year compared to 15.2" in Hay Springs.