Cost of Living Comparison Between Medellin and Panama City 

Indices DifferenceInfo
Cost of Living in Panama City is 48.3% higher than in Medellin (without rent)
Cost of Living Including Rent in Panama City is 62.5% higher than in Medellin
Rent Prices in Panama City are 107.8% higher than in Medellin
Restaurant Prices in Panama City are 80.7% higher than in Medellin
Groceries Prices in Panama City are 52.1% higher than in Medellin
Local Purchasing Power in Panama City is 24.2% higher than in Medellin
Currency: Sticky Currency      Switch to metric measurement units
Restaurants
Medellin Edit Panama City Edit Difference
Meal, Inexpensive Restaurant 24,500.00 Col$
(6.06 $)
47,543.29 Col$
(11.75 $)
     +94.1 %
Meal for 2 People, Mid-range Restaurant, Three-course 120,000.00 Col$
(29.66 $)
242,774.26 Col$
(60.00 $)
     +102.3 %
McMeal at McDonalds (or Equivalent Combo Meal) 28,000.00 Col$
(6.92 $)
32,369.90 Col$
(8.00 $)
     +15.6 %
Domestic Beer (1 pint draught) 6,000.00 Col$
(1.48 $)
12,138.71 Col$
(3.00 $)
     +102.3 %
Imported Beer (12 oz small bottle) 12,000.00 Col$
(2.97 $)
16,184.95 Col$
(4.00 $)
     +34.9 %
Cappuccino (regular) 6,646.97 Col$
(1.64 $)
14,842.40 Col$
(3.67 $)
     +123.3 %
Coke/Pepsi (12 oz small bottle) 4,000.41 Col$
(0.99 $)
7,381.60 Col$
(1.82 $)
     +84.5 %
Water (12 oz small bottle) 2,989.12 Col$
(0.74 $)
5,533.81 Col$
(1.37 $)
     +85.1 %
Markets
Medellin Edit Panama City Edit
Milk (regular), (1 gallon) 17,173.73 Col$
(4.24 $)
27,219.93 Col$
(6.73 $)
     +58.5 %
Loaf of Fresh White Bread (1 lb) 5,103.21 Col$
(1.26 $)
9,304.21 Col$
(2.30 $)
     +82.3 %
Rice (white), (1 lb) 2,311.91 Col$
(0.57 $)
3,959.10 Col$
(0.98 $)
     +71.2 %
Eggs (regular) (12) 8,507.30 Col$
(2.10 $)
10,455.07 Col$
(2.58 $)
     +22.9 %
Local Cheese (1 lb) 9,135.64 Col$
(2.26 $)
21,936.61 Col$
(5.42 $)
     +140.1 %
Chicken Fillets (1 lb) 10,105.44 Col$
(2.50 $)
13,999.44 Col$
(3.46 $)
     +38.5 %
Beef Round (1 lb) (or Equivalent Back Leg Red Meat) 19,849.34 Col$
(4.91 $)
17,540.25 Col$
(4.33 $)
     -11.6 %
Apples (1 lb) 4,229.28 Col$
(1.05 $)
5,617.85 Col$
(1.39 $)
     +32.8 %
Banana (1 lb) 1,735.24 Col$
(0.43 $)
2,665.80 Col$
(0.66 $)
     +53.6 %
Oranges (1 lb) 2,638.84 Col$
(0.65 $)
5,018.02 Col$
(1.24 $)
     +90.2 %
Tomato (1 lb) 2,516.68 Col$
(0.62 $)
5,436.74 Col$
(1.34 $)
     +116.0 %
Potato (1 lb) 1,994.55 Col$
(0.49 $)
3,815.74 Col$
(0.94 $)
     +91.3 %
Onion (1 lb) 2,160.01 Col$
(0.53 $)
4,176.17 Col$
(1.03 $)
     +93.3 %
Lettuce (1 head) 3,844.62 Col$
(0.95 $)
8,439.30 Col$
(2.09 $)
     +119.5 %
Water (1.5 liter bottle) 3,415.38 Col$
(0.84 $)
5,988.43 Col$
(1.48 $)
     +75.3 %
Bottle of Wine (Mid-Range) 40,462.38 Col$
(10.00 $)
36,416.14 Col$
(9.00 $)
     -10.0 %
Domestic Beer (0.5 liter bottle) 4,474.20 Col$
(1.11 $)
4,854.68 Col$
(1.20 $)
     +8.5 %
Imported Beer (12 oz small bottle) 7,893.51 Col$
(1.95 $)
7,641.16 Col$
(1.89 $)
     -3.2 %
Cigarettes 20 Pack (Marlboro) 9,000.00 Col$
(2.22 $)
23,265.87 Col$
(5.75 $)
     +158.5 %
Transportation
Medellin Edit Panama City Edit
One-way Ticket (Local Transport) 3,000.00 Col$
(0.74 $)
1,416.18 Col$
(0.35 $)
     -52.8 %
Monthly Pass (Regular Price) 200,000.00 Col$
(49.43 $)
101,155.94 Col$
(25.00 $)
     -49.4 %
Taxi Start (Normal Tariff) 5,700.00 Col$
(1.41 $)
8,092.48 Col$
(2.00 $)
     +42.0 %
Taxi 1 mile (Normal Tariff) 11,506.81 Col$
(2.84 $)
11,767.17 Col$
(2.91 $)
     +2.3 %
Taxi 1hour Waiting (Normal Tariff) 29,000.00 Col$
(7.17 $)
84,970.99 Col$
(21.00 $)
     +193.0 %
Gasoline (1 gallon) 14,852.00 Col$
(3.67 $)
14,915.66 Col$
(3.69 $)
     +0.4 %
Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) 77,000,000.00 Col$
(19,030.02 $)
79,913,194.22 Col$
(19,750.00 $)
     +3.8 %
Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car) 107,823,663.77 Col$
(26,647.88 $)
82,273,499.53 Col$
(20,333.33 $)
     -23.7 %
Utilities (Monthly)
Medellin Edit Panama City Edit
Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment 331,274.85 Col$
(81.87 $)
490,531.60 Col$
(121.23 $)
     +48.1 %
Mobile Phone Monthly Plan with Calls and 10GB+ Data 39,186.74 Col$
(9.68 $)
120,628.46 Col$
(29.81 $)
     +207.8 %
Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) 98,500.00 Col$
(24.34 $)
210,956.12 Col$
(52.14 $)
     +114.2 %
Sports And Leisure
Medellin Edit Panama City Edit
Fitness Club, Monthly Fee for 1 Adult 106,498.71 Col$
(26.32 $)
178,708.83 Col$
(44.17 $)
     +67.8 %
Tennis Court Rent (1 Hour on Weekend) 48,750.00 Col$
(12.05 $)
91,040.35 Col$
(22.50 $)
     +86.7 %
Cinema, International Release, 1 Seat 15,000.00 Col$
(3.71 $)
28,323.66 Col$
(7.00 $)
     +88.8 %
Childcare
Medellin Edit Panama City Edit
Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child 1,006,666.67 Col$
(248.79 $)
1,696,529.66 Col$
(419.29 $)
     +68.5 %
International Primary School, Yearly for 1 Child 25,800,000.00 Col$
(6,376.29 $)
37,806,888.83 Col$
(9,343.71 $)
     +46.5 %
Clothing And Shoes
Medellin Edit Panama City Edit
1 Pair of Jeans (Levis 501 Or Similar) 226,795.10 Col$
(56.05 $)
216,810.90 Col$
(53.58 $)
     -4.4 %
1 Summer Dress in a Chain Store (Zara, H&M, ...) 144,351.77 Col$
(35.68 $)
157,803.27 Col$
(39.00 $)
     +9.3 %
1 Pair of Nike Running Shoes (Mid-Range) 366,315.79 Col$
(90.53 $)
348,287.69 Col$
(86.08 $)
     -4.9 %
1 Pair of Men Leather Business Shoes 348,718.65 Col$
(86.18 $)
454,077.78 Col$
(112.22 $)
     +30.2 %
Rent Per Month
Medellin Edit Panama City Edit
Apartment (1 bedroom) in City Centre 1,906,752.25 Col$
(471.24 $)
3,995,659.71 Col$
(987.50 $)
     +109.6 %
Apartment (1 bedroom) Outside of Centre 1,487,729.70 Col$
(367.68 $)
2,665,756.59 Col$
(658.82 $)
     +79.2 %
Apartment (3 bedrooms) in City Centre 3,414,959.21 Col$
(843.98 $)
8,192,048.00 Col$
(2,024.61 $)
     +139.9 %
Apartment (3 bedrooms) Outside of Centre 3,002,146.75 Col$
(741.96 $)
5,534,675.12 Col$
(1,367.86 $)
     +84.4 %
Buy Apartment Price
Medellin Edit Panama City Edit
Price per Square Feet to Buy Apartment in City Centre 610,541.94 Col$
(150.89 $)
947,592.98 Col$
(234.19 $)
     +55.2 %
Price per Square Feet to Buy Apartment Outside of Centre 535,117.06 Col$
(132.25 $)
576,387.13 Col$
(142.45 $)
     +7.7 %
Salaries And Financing
Medellin Edit Panama City Edit
Average Monthly Net Salary (After Tax) 1,744,141.58 Col$
(431.05 $)
3,518,878.04 Col$
(869.67 $)
     +101.8 %
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate 15.69 6.03      -61.6 %
Last update: July 2024July 2024
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