Panama, IA vs Whiting, IA

Panama, IA and Whiting, IA have a very similar cost of living, with only a 4.5% difference in their overall index. Panama scores 70 while Whiting scores 67 on the cost of living index, where 100 represents the national average. The day-to-day expenses for residents in both cities are comparable, though differences emerge when looking at specific categories.

On the housing front, median rent in Panama is $939/month compared to $931/month in Whiting — a 1% difference. Home values follow the same pattern: Whiting is more affordable at $87,800 median vs $121,600.

Median household income in Panama is $61,250 compared to $68,977 in Whiting (-11.2%). Whiting offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Panama spend roughly 18.4% of their income on rent, more than the 16.2% in Whiting.

Climate-wise, Panama is notably warmer with an average of 52.4°F compared to 48.4°F in Whiting. Panama receives more rainfall at 31.9" per year compared to 29.3" in Whiting.