Panama, IA vs Raymond, IA

Panama is moderately more affordable than Raymond, with a 14.5% lower cost of living index. Panama scores 70 compared to 82 for Raymond, where the US average is 100. This difference means residents of Raymond can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Panama is $939/month compared to $1,125/month in Raymond — a 17% difference. Home values follow the same pattern: Panama is more affordable at $121,600 median vs $210,400.

Median household income in Panama is $61,250 compared to $62,813 in Raymond (-2.5%). Raymond does offer higher incomes, but the salary premium barely offsets the higher cost of living, leaving residents with a tighter budget. Looking at affordability, residents of Panama spend roughly 18.4% of their income on rent, less than the 21.5% in Raymond.

Climate-wise, Panama is notably warmer with an average of 52.4°F compared to 49°F in Raymond. Raymond receives more rainfall at 36.3" per year compared to 31.9" in Panama.