Cost of Living in Panama City

Cost of Living Index (Excl.Rent): 60.14
Rent Index: 36.43
Groceries Index: 59.66
Restaurants Index: 56.98
Cost of Living Plus Rent Index: 48.88
Local Purchasing Power: 39.69
Restaurants [ Edit ] Avg. Range
Meal, Inexpensive Restaurant 9.00 $ 6.00-11.20
Meal for 2 People, Mid-range Restaurant, Three-course 50.00 $ 26.00-60.00
McMeal at McDonalds (or Equivalent Combo Meal) 6.00 $ 5.50-7.00
Domestic Beer (1 pint draught) 2.00 $ 1.20-3.00
Imported Beer (11.2 oz small bottle) 3.50 $ 2.50-4.50
Cappuccino (regular) 2.81 $ 2.50-3.25
Coke/Pepsi (11.2 oz small bottle) 1.08 $ 0.80-1.80
Water (11.2 oz small bottle) 1.14 $ 0.90-1.50
Markets [ Edit ] Avg.
Milk (regular), (1 gallon) 5.56 $ 4.73-6.21
Loaf of Fresh White Bread (1 lb) 1.96 $ 1.26-2.72
Rice (white), (1 lb) 0.89 $ 0.79-1.13
Eggs (12) 2.02 $ 1.87-2.22
Local Cheese (1 lb) 3.88 $ 3.18-4.54
Chicken Breasts (Boneless, Skinless), (1 lb) 3.86 $ 3.50-4.31
Beef Round (1 lb) (or Equivalent Back Leg Red Meat) 4.04 $ 3.63-4.54
Apples (1 lb) 1.68 $ 1.13-2.04
Banana (1 lb) 0.48 $ 0.45-0.50
Oranges (1 lb) 1.19 $ 1.13-1.24
Tomato (1 lb) 1.51 $ 1.02-2.27
Potato (1 lb) 0.93 $ 0.45-1.59
Onion (1 lb) 0.98 $ 0.68-1.36
Lettuce (1 head) 1.50 $ 1.10-2.50
Water (1.5 liter bottle) 1.74 $ 1.50-2.00
Bottle of Wine (Mid-Range) 9.00 $ 6.50-15.00
Domestic Beer (0.5 liter bottle) 0.75 $ 0.70-0.80
Imported Beer (11.2 oz small bottle) 1.86 $ 1.00-2.50
Pack of Cigarettes (Marlboro) 5.00 $ 4.75-5.50
Transportation [ Edit ] Avg.
One-way Ticket (Local Transport) 0.25 $ 0.25-0.35
Monthly Pass (Regular Price) 23.00 $ 20.00-25.50
Taxi Start (Normal Tariff) 2.00 $ 1.25-2.50
Taxi 1 mile (Normal Tariff) 2.41 $ 2.00-3.22
Taxi 1hour Waiting (Normal Tariff) 11.00 $ 10.00-15.00
Gasoline (1 gallon) 2.96 $ 2.50-3.60
Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) 18,000.00 $ 14,000.00-22,000.00
Utilities (Monthly) [ Edit ] Avg.
Basic (Electricity, Heating, Water, Garbage) for 915 sq ft Apartment 97.46 $ 60.00-147.83
1 min. of Prepaid Mobile Tariff Local (No Discounts or Plans) 0.14 $ 0.10-0.20
Internet (10 Mbps, Unlimited Data, Cable/ADSL) 41.29 $ 35.00-50.00
Sports And Leisure [ Edit ] Avg.
Fitness Club, Monthly Fee for 1 Adult 70.12 $ 60.00-90.00
Tennis Court Rent (1 Hour on Weekend) 13.93 $ 10.00-20.00
Cinema, International Release, 1 Seat 6.00 $ 5.00-7.00
Clothing And Shoes [ Edit ] Avg.
1 Pair of Jeans (Levis 501 Or Similar) 48.00 $ 30.00-65.00
1 Summer Dress in a Chain Store (Zara, H&M, ...) 34.23 $ 25.00-50.00
1 Pair of Nike Running Shoes (Mid-Range) 77.11 $ 65.00-90.00
1 Pair of Men Leather Business Shoes 76.33 $ 60.00-100.00
Rent Per Month [ Edit ] Avg.
Apartment (1 bedroom) in City Centre 1,152.38 $ 800.00-1,500.00
Apartment (1 bedroom) Outside of Centre 603.85 $ 500.00-900.00
Apartment (3 bedrooms) in City Centre 2,077.27 $ 1,500.00-3,000.00
Apartment (3 bedrooms) Outside of Centre 1,200.00 $ 800.00-1,600.00
Buy Apartment Price [ Edit ] Avg.
Price per Square Feet to Buy Apartment in City Centre 182.32 $ 167.22-204.38
Price per Square Feet to Buy Apartment Outside of Centre 138.32 $ 92.90-167.22
Salaries And Financing [ Edit ] Avg.
Average Monthly Disposable Salary (Net After Tax) 713.89 $ 600.00-800.00
Mortgage Interest Rate in Percentages (%), Yearly 5.22 4.50-6.00

Prices in Panama City, Panama

These data are based on 915 entries in the past 18 months from 116 different contributors.
Last update: May, 2016
Sources and References : Info
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Cost of living in Panama City is 39.86% lower than in New York (Info)Our estimator (with default settings) estimate monthly expenses for a single person at 700.38$ and for four person family at 2,534.39$ (without rent).
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19 Comments so far
#KIM on May 17, 2016 :
My husband wants to relocate here from Cal. He lived here about 9 years ago. When the building market bottomed out. It seems it has started to boom again. I am interested in finding work out here. I am a receptionist and the president of the companies secretary. Would I be able to find work? What is the cost of renting a two bedroom duplex?
#Roy D. Meléndez on Apr 12, 2016 :
This month, April 2016, I visited Panama City for the first time, and I found that Panama is an important city for working, business, and moving here. The city has a beach skyline that I considered looks like a little New York, with many tall buildings and even with some skyscrapers.The cost of meals like fast food or Chinese foods is rather cheaper that in Miami, FL. The transportation system was improved a lot with the service given by the Panama Metro or subway, so far it has one line and only 14 stations and this month is celebrating its 2nd anniversary, but a new 2nd line is underway. Nos there is a low supply of drinking water due to the large dry season (no rain), and another problem I found was the presence in the streets of many ilegal small bus taxis which have invaded the legal lines. My plan so far is to return to Panama and to try to settle down here. Cheers!.
#Lonnie on Feb 08, 2016 :
I'm considering coming to Panama. Interest in a job in the cattle business. While I have any luck
#Carmen on May 06, 2015 :
Robert, Panama City is an international City with over 80 different banks. Panama City drawn 10 Billion dollars daily from the Canal alone. You can't compare Panama City to a Midwestern town in the US.

I live in the USA, in Phoenix, Arizona and you won't get anything but dump here at that price.!
#Mercedes on Apr 17, 2015 :
I love Panama ..i am from venezuela i wish i can get an offer to work in that country ... i already buy a house overthere but i hvent move yet. I speak english and spanish i see myself living cinfortable overthere working in a 5 stars hotel as a hsk manager or so
#Bill on Mar 18, 2015 :
Check out flexpay in Los pueblos or Gran Estacion if you need furniture electronics or appliances. They rent to own or temporarily. Makes finding an unfurnished apt easier if u need furniture etc. many apts don't have appliances. This is a great option
#Tito Perez on Aug 03, 2014 :
panama is a nice place to live. If unless you conduct business on a daily basis in Panama city, the city is not a good place to live. there's many nice neighborhoods outside the city were rent is in the $400 or less a month, for a house with privet gates. you just have to go out and fine it. word of mouth goes a long ways in Panama.
#ana on Jul 24, 2014 :
Living in Panama city is ok (comfy) if you earn up to 800$,
Renting a master bedroom 500$-600$, a mid size bedroom 350$-450$ and a service small bedroom 200$-250$ inside the city.
Renting a whole furnitured apartment will cost inside the city with at least with two bedrooms 900$
It is preferable to rent a room and share the apartment if case u want to save some money
Going to the movies 6$, burger king and mc donalds combo around 5$
Taxis inside the city max 6$ min 1.5$
Internet with cable 50$-70$
Cellular plan with 3G 15$ monthly
#shqiprim on Jun 11, 2014 :
I'm shqiprim Biba and'm from Kosovo, but I want to come in panama city to work and live a pretty good time because I heard you can officially travel to Panama without a visa thus you can with the profession I am indormoni are kpuctar I know very well the work of the hotel (waiter) thus you can tell someone how much you can earn per month with this profession would you tell me whether I was grateful to my address via Facebook shqiprim biba-chypa
   Thanks for understanding
#Cesar on Mar 26, 2014 :
Born in the Country of Panama, lived and worked in the USA NYC for 35 years, retired at 62 years in USA, now in Panama on $1750.00 a month and I live super comfortable and have enough to travel on vacation at least 3 times a year to NYC. Panama is safe people are great and happy easy going friendly and up on coming. Prices are great, yes if you want to live like Donald Trump in NY yes you will pay $3K per month in rent, but with $600 to $800 monthly you can afford 1,2 or 3 bedroom in secure space in comparison to someone renting for $5K in rent in NYC and with doorman and amenities.
Of the mayor 20 cities in the country of Panama, only 1 city to avoid in the country of Panama is the city of Colon because of the level of poverty.

According to the CIA World Factbook, as of 2011 Panama had an unemployment rate of 2.7%.[4] A food surplus was registered in August 2008. On the Human Development Index Panama was ranked at number 60 (2008). In recent years, Panama's economy has experienced an economic boom, with growth in real gross domestic product (GDP) averaging over 10.4% from 2006–2008. The Panamanian economy has been among the fastest growing and best managed in Latin America. Latin Business Chronicle has predicted that Panama will be the fastest growing economy in Latin America in the five-year period 2010–14, matching Brazil's 10% rate.[28]
#Terry parish on Sep 21, 2013 :
We love panama and we are planning our retirement in this tropical Paridise
#Joaquin on Jul 22, 2013 :
Hi Im updating the info on how mass transportation is operating right now in Panama City, Currently the city is going under heavy modernization, Current President Ricardo Martinelli decided to hit multiple Projects to Gain acceptance for the working class in Panama City Panama and improve his chaces for winning the 2014 elections but his plan has turned into a Nightmare , the logistics for this huge Project has brought the traffic to a complete halt. the completion of this projects are estimated to end by early 2015 after all the caos this has bright some positive aspects and has made a great improvement on Public transportation by elimination of the so called Diablos Rojos US School Buses turned into Public Transport and operated by Private Sociedades anonimas (S.A.).

This Guys were the drivers and commuters nightmares because of their reckless driving for many years in Panamá City …... this people did not go by the State laws and frequently they had a long list of criminal records that included hit and run , not obeying street lights , stop sings , accidents involving mechanical failure of the buses such as rear axel separating from the chassis , wheel coming off at high speed and hiting pedestrians , private property , smashing into homes and business, killing people crossing street and the list goes on an on luckily this problem has been resolved to a 95% .

Now we have the New system that is going thru a very convulsive change and is struggling every day to operate at is 100% due to the lack of alternate Streets that right now are being rebuilt and at the same time they are building new intersection bridges and widening of lanes and Metro Stations thru out the whole city and making daly commute a Stressful experience for the past 4 years in a Row for everyone living on the City because of the lack of organization and lack of Metrobus units, the current Government is pormising to start the Operation of the New Metro on the first quarter of 2014 and this promises to alleviate all the City Caos for the upcoming 2014.

as for know we will have to wait till next year to see the benefits of all this investment , its promising but it has costed lost of logistical problems in Panama city for the past 4 Years .

There is a lot of expectation and it seem like live in Panama city will return to Normal on the upcoming months
#frsfaza on Jun 25, 2013 :
If you have money, come to Panama. As a citizen, I don't recommend living here. Just coming like a tourist is allright
#sam on Jun 05, 2013 :
I got offer to work in Panama for 6 month extendable, I have one kid
if i wana live in compound building, which include swimming , shopping near, Supermarket , can Anybody inform me the price of 2 bedroom furnished flat
#Uapanama on May 28, 2013 :
Hey guy's this site answered a a good amount of questions when it came to retirement and living in panama. Also it broke down the 'Benefits of the Pensionado Program'. The link is its highlited in Blue. Hope this helps
#Fluegge on Dec 03, 2012 :
I keep reading how cheap it is to live here, but we did & electricity is very expensive...A/C is not something you can do without there. Medical IN Panama city can be good. Dental is a fiasco. My husband researched & found what was considered the best & was elated at the time. $10,000. for comparable $30,000. US. Got the work done only to find out foundation work was not done, so now $50,000. to correct in US. This is just the tip of the iceberg. Very interesting to hear how many have "Lost" their retirement, because of move there.
#Joe Motes on Oct 31, 2012 :
Hello Claudia, what's it like for a Veteran living in Panama, as I'm with the V.A. I'm retired.
#Claudia on Oct 19, 2012 :
Sorry, Robert, but you cannot compare Wichita Falls, TX to Panama City.
#Robert Clark on Jul 31, 2012 :
I don't find it too cheap living in Panama after checking the prices listed. 900.00 plus for a one bedroom apmt. I have a 3 bedroom apmt here in Wichita Falls Texas that's 850.00 all bills paid.

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