Panama, NY vs Wilson, NY

Panama, NY and Wilson, NY have a very similar cost of living, with only a 0.8% difference in their overall index. Panama scores 67 while Wilson 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 $742/month compared to $679/month in Wilson — a 9% difference. Interestingly, home values tell a different story: while Wilson has cheaper rent, Panama actually has lower median home values ($96,600 vs $162,700).

Median household income in Panama is $57,250 compared to $60,938 in Wilson (-6.1%). While Wilson is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Panama spend roughly 15.6% of their income on rent, more than the 13.4% in Wilson.