Cost of Living Comparison Between Panama City and Medellin 
| Indices Difference |  |
|---|---|
| Cost of Living in Medellin is 30.0% lower than in Panama City (without rent) | |
| Cost of Living Including Rent in Medellin is 35.4% lower than in Panama City | |
| Rent Prices in Medellin are 47.2% lower than in Panama City | |
| Restaurant Prices in Medellin are 47.8% lower than in Panama City | |
| Groceries Prices in Medellin are 31.8% lower than in Panama City | |
| Local Purchasing Power in Medellin is 23.9% lower than in Panama City | |
Restaurants | Panama City Edit |
Medellin Edit | Difference |
|---|---|---|---|
| Meal, Inexpensive Restaurant |
11.75 $ (45,410.74 Col$) |
5.69 $ (22,000.00 Col$) |
-51.6 % |
| Meal for 2 People, Mid-range Restaurant, Three-course |
60.00 $ (231,884.65 Col$) |
28.46 $ (110,000.00 Col$) |
-52.6 % |
| McMeal at McDonalds (or Equivalent Combo Meal) |
8.00 $ (30,917.95 Col$) |
6.73 $ (26,000.00 Col$) |
-15.9 % |
| Domestic Beer (1 pint draught) |
2.75 $ (10,628.05 Col$) |
1.29 $ (5,000.00 Col$) |
-53.0 % |
| Imported Beer (12 oz small bottle) |
4.00 $ (15,458.98 Col$) |
3.10 $ (12,000.00 Col$) |
-22.4 % |
| Cappuccino (regular) |
3.72 $ (14,362.45 Col$) |
1.69 $ (6,524.07 Col$) |
-54.6 % |
| Coke/Pepsi (12 oz small bottle) |
1.77 $ (6,827.53 Col$) |
1.02 $ (3,928.61 Col$) |
-42.5 % |
| Water (12 oz small bottle) |
1.33 $ (5,131.00 Col$) |
0.75 $ (2,890.84 Col$) |
-43.7 % |
Markets | Panama City Edit |
Medellin Edit | |
| Milk (regular), (1 gallon) |
6.68 $ (25,805.43 Col$) |
4.39 $ (16,958.65 Col$) |
-34.3 % |
| Loaf of Fresh White Bread (1 lb) |
2.21 $ (8,532.68 Col$) |
1.21 $ (4,659.29 Col$) |
-45.4 % |
| Rice (white), (1 lb) |
0.95 $ (3,681.34 Col$) |
0.57 $ (2,193.00 Col$) |
-40.4 % |
| Eggs (regular) (12) |
2.54 $ (9,832.26 Col$) |
2.19 $ (8,472.52 Col$) |
-13.8 % |
| Local Cheese (1 lb) |
4.93 $ (19,065.06 Col$) |
2.34 $ (9,057.93 Col$) |
-52.5 % |
| Chicken Fillets (1 lb) |
3.42 $ (13,201.28 Col$) |
2.67 $ (10,302.69 Col$) |
-22.0 % |
| Beef Round (1 lb) (or Equivalent Back Leg Red Meat) |
4.07 $ (15,713.32 Col$) |
4.80 $ (18,533.01 Col$) |
+17.9 % |
| Apples (1 lb) |
1.40 $ (5,413.80 Col$) |
1.11 $ (4,283.84 Col$) |
-20.9 % |
| Banana (1 lb) |
0.62 $ (2,410.85 Col$) |
0.42 $ (1,638.24 Col$) |
-32.0 % |
| Oranges (1 lb) |
1.30 $ (5,005.18 Col$) |
0.59 $ (2,270.63 Col$) |
-54.6 % |
| Tomato (1 lb) |
1.41 $ (5,430.74 Col$) |
0.67 $ (2,603.30 Col$) |
-52.1 % |
| Potato (1 lb) |
0.94 $ (3,634.69 Col$) |
0.54 $ (2,097.45 Col$) |
-42.3 % |
| Onion (1 lb) |
0.97 $ (3,767.79 Col$) |
0.58 $ (2,248.78 Col$) |
-40.3 % |
| Lettuce (1 head) |
2.18 $ (8,416.05 Col$) |
0.88 $ (3,399.56 Col$) |
-59.6 % |
| Water (1.5 liter bottle) |
1.44 $ (5,547.04 Col$) |
0.87 $ (3,346.36 Col$) |
-39.7 % |
| Bottle of Wine (Mid-Range) |
9.00 $ (34,782.70 Col$) |
10.00 $ (38,647.44 Col$) |
+11.1 % |
| Domestic Beer (0.5 liter bottle) |
1.20 $ (4,619.81 Col$) |
1.16 $ (4,469.86 Col$) |
-3.2 % |
| Imported Beer (12 oz small bottle) |
1.86 $ (7,175.54 Col$) |
2.04 $ (7,885.12 Col$) |
+9.9 % |
| Cigarettes 20 Pack (Marlboro) |
5.75 $ (22,222.28 Col$) |
2.33 $ (9,000.00 Col$) |
-59.5 % |
Transportation | Panama City Edit |
Medellin Edit | |
| One-way Ticket (Local Transport) |
0.35 $ (1,352.66 Col$) |
0.76 $ (2,950.00 Col$) |
+118.1 % |
| Monthly Pass (Regular Price) |
25.00 $ (96,618.60 Col$) |
51.75 $ (200,000.00 Col$) |
+107.0 % |
| Taxi Start (Normal Tariff) |
2.00 $ (7,729.49 Col$) |
1.29 $ (5,000.00 Col$) |
-35.3 % |
| Taxi 1 mile (Normal Tariff) |
2.62 $ (10,107.02 Col$) |
3.33 $ (12,874.76 Col$) |
+27.4 % |
| Taxi 1hour Waiting (Normal Tariff) |
20.00 $ (77,294.88 Col$) |
7.76 $ (30,000.00 Col$) |
-61.2 % |
| Gasoline (1 gallon) |
3.71 $ (14,354.02 Col$) |
3.82 $ (14,753.32 Col$) |
+2.8 % |
| Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) |
22,250.00 $ (85,990,556.23 Col$) |
20,182.45 $ (78,000,000.00 Col$) |
-9.3 % |
| Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car) |
20,494.44 $ (79,205,783.25 Col$) |
28,557.86 $ (110,368,805.80 Col$) |
+39.3 % |
Utilities (Monthly) | Panama City Edit |
Medellin Edit | |
| Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment |
112.43 $ (434,514.72 Col$) |
81.24 $ (313,985.56 Col$) |
-27.7 % |
| Mobile Phone Monthly Plan with Calls and 10GB+ Data |
29.38 $ (113,526.86 Col$) |
10.10 $ (39,032.24 Col$) |
-65.6 % |
| Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) |
51.37 $ (198,514.07 Col$) |
25.00 $ (96,615.38 Col$) |
-51.3 % |
Sports And Leisure | Panama City Edit |
Medellin Edit | |
| Fitness Club, Monthly Fee for 1 Adult |
40.93 $ (158,196.86 Col$) |
27.04 $ (104,515.08 Col$) |
-33.9 % |
| Tennis Court Rent (1 Hour on Weekend) |
25.00 $ (96,618.60 Col$) |
14.23 $ (55,000.00 Col$) |
-43.1 % |
| Cinema, International Release, 1 Seat |
7.00 $ (27,053.21 Col$) |
3.88 $ (15,000.00 Col$) |
-44.6 % |
Childcare | Panama City Edit |
Medellin Edit | |
| Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child |
387.50 $ (1,497,588.34 Col$) |
238.05 $ (920,000.00 Col$) |
-38.6 % |
| International Primary School, Yearly for 1 Child |
9,675.75 $ (37,394,297.73 Col$) |
6,468.73 $ (25,000,000.00 Col$) |
-33.1 % |
Clothing And Shoes | Panama City Edit |
Medellin Edit | |
| 1 Pair of Jeans (Levis 501 Or Similar) |
53.94 $ (208,454.63 Col$) |
55.33 $ (213,854.59 Col$) |
+2.6 % |
| 1 Summer Dress in a Chain Store (Zara, H&M, ...) |
40.79 $ (157,626.35 Col$) |
40.27 $ (155,625.00 Col$) |
-1.3 % |
| 1 Pair of Nike Running Shoes (Mid-Range) |
82.58 $ (319,146.50 Col$) |
89.45 $ (345,714.29 Col$) |
+8.3 % |
| 1 Pair of Men Leather Business Shoes |
92.86 $ (358,869.10 Col$) |
86.91 $ (335,882.65 Col$) |
-6.4 % |
Rent Per Month | Panama City Edit |
Medellin Edit | |
| Apartment (1 bedroom) in City Centre |
925.91 $ (3,578,401.70 Col$) |
479.44 $ (1,852,909.02 Col$) |
-48.2 % |
| Apartment (1 bedroom) Outside of Centre |
598.61 $ (2,313,478.76 Col$) |
376.40 $ (1,454,684.15 Col$) |
-37.1 % |
| Apartment (3 bedrooms) in City Centre |
2,048.00 $ (7,914,995.92 Col$) |
881.33 $ (3,406,102.32 Col$) |
-57.0 % |
| Apartment (3 bedrooms) Outside of Centre |
1,194.12 $ (4,614,959.13 Col$) |
779.81 $ (3,013,778.23 Col$) |
-34.7 % |
Buy Apartment Price | Panama City Edit |
Medellin Edit | |
| Price per Square Feet to Buy Apartment in City Centre |
228.61 $ (883,503.44 Col$) |
166.87 $ (644,916.97 Col$) |
-27.0 % |
| Price per Square Feet to Buy Apartment Outside of Centre |
135.37 $ (523,177.65 Col$) |
143.97 $ (556,413.11 Col$) |
+6.4 % |
Salaries And Financing | Panama City Edit |
Medellin Edit | |
| Average Monthly Net Salary (After Tax) |
861.84 $ (3,330,799.19 Col$) |
423.78 $ (1,637,787.88 Col$) |
-50.8 % |
| Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate | 6.07 | 14.55 | +139.8 % |
| Last update: | May 2024 | May 2024 | |
| Contributors in the past 12 months: | 88 | 123 |
Moving to Medellin? Explore:
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| Cost of Living in Pacora | 19.85 miles |
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| Cost of Living in Aguadulce | 127.78 miles |
| Cost of Living in Santiago | 161.98 miles |
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