Cost of Living Comparison Between Medellin and Panama City 
| Indices Difference |  |
|---|---|
| Consumer Prices in Panama City are 57.8% higher than in Medellin (without rent) | |
| Consumer Prices Including Rent in Panama City are 75.6% higher than in Medellin | |
| Rent Prices in Panama City are 130.0% higher than in Medellin | |
| Restaurant Prices in Panama City are 109.8% higher than in Medellin | |
| Groceries Prices in Panama City are 58.2% higher than in Medellin | |
| Local Purchasing Power in Panama City is 31.6% higher than in Medellin | |
Restaurants | Medellin Edit |
Panama City Edit | Difference |
|---|---|---|---|
| Meal, Inexpensive Restaurant |
20,000.00 Col$ (4.89 $) |
40,888.55 Col$ (10.00 $) |
+104.4 % |
| Meal for 2 People, Mid-range Restaurant, Three-course |
100,000.00 Col$ (24.46 $) |
245,331.29 Col$ (60.00 $) |
+145.3 % |
| McMeal at McDonalds (or Equivalent Combo Meal) |
25,000.00 Col$ (6.11 $) |
32,710.84 Col$ (8.00 $) |
+30.8 % |
| Domestic Beer (1 pint draught) |
5,000.00 Col$ (1.22 $) |
12,266.56 Col$ (3.00 $) |
+145.3 % |
| Imported Beer (12 oz small bottle) |
10,000.00 Col$ (2.45 $) |
16,355.42 Col$ (4.00 $) |
+63.6 % |
| Cappuccino (regular) |
5,887.55 Col$ (1.44 $) |
14,991.03 Col$ (3.67 $) |
+154.6 % |
| Coke/Pepsi (12 oz small bottle) |
3,642.48 Col$ (0.89 $) |
6,987.56 Col$ (1.71 $) |
+91.8 % |
| Water (12 oz small bottle) |
2,755.54 Col$ (0.67 $) |
5,722.99 Col$ (1.40 $) |
+107.7 % |
Markets | Medellin Edit |
Panama City Edit | |
| Milk (regular), (1 gallon) |
14,875.78 Col$ (3.64 $) |
26,385.13 Col$ (6.45 $) |
+77.4 % |
| Loaf of Fresh White Bread (1 lb) |
4,511.00 Col$ (1.10 $) |
8,933.08 Col$ (2.18 $) |
+98.0 % |
| Rice (white), (1 lb) |
2,182.69 Col$ (0.53 $) |
3,594.08 Col$ (0.88 $) |
+64.7 % |
| Eggs (regular) (12) |
7,854.77 Col$ (1.92 $) |
9,334.86 Col$ (2.28 $) |
+18.8 % |
| Local Cheese (1 lb) |
8,120.45 Col$ (1.99 $) |
17,834.67 Col$ (4.36 $) |
+119.6 % |
| Chicken Fillets (1 lb) |
10,385.95 Col$ (2.54 $) |
12,889.99 Col$ (3.15 $) |
+24.1 % |
| Beef Round (1 lb) (or Equivalent Back Leg Red Meat) |
14,698.18 Col$ (3.59 $) |
15,505.09 Col$ (3.79 $) |
+5.5 % |
| Apples (1 lb) |
4,565.63 Col$ (1.12 $) |
5,429.14 Col$ (1.33 $) |
+18.9 % |
| Banana (1 lb) |
1,598.67 Col$ (0.39 $) |
2,678.22 Col$ (0.66 $) |
+67.5 % |
| Oranges (1 lb) |
2,299.45 Col$ (0.56 $) |
5,044.01 Col$ (1.23 $) |
+119.4 % |
| Tomato (1 lb) |
2,222.19 Col$ (0.54 $) |
5,581.07 Col$ (1.36 $) |
+151.2 % |
| Potato (1 lb) |
2,063.55 Col$ (0.50 $) |
3,556.78 Col$ (0.87 $) |
+72.4 % |
| Onion (1 lb) |
2,022.05 Col$ (0.49 $) |
3,459.51 Col$ (0.85 $) |
+71.1 % |
| Lettuce (1 head) |
3,184.80 Col$ (0.78 $) |
8,126.60 Col$ (1.99 $) |
+155.2 % |
| Water (1.5 liter bottle) |
2,943.15 Col$ (0.72 $) |
6,024.25 Col$ (1.47 $) |
+104.7 % |
| Bottle of Wine (Mid-Range) |
35,000.00 Col$ (8.56 $) |
34,755.27 Col$ (8.50 $) |
-0.7 % |
| Domestic Beer (0.5 liter bottle) |
4,207.09 Col$ (1.03 $) |
5,076.63 Col$ (1.24 $) |
+20.7 % |
| Imported Beer (12 oz small bottle) |
7,045.45 Col$ (1.72 $) |
7,727.94 Col$ (1.89 $) |
+9.7 % |
| Cigarettes 20 Pack (Marlboro) |
8,700.00 Col$ (2.13 $) |
24,124.24 Col$ (5.90 $) |
+177.3 % |
Transportation | Medellin Edit |
Panama City Edit | |
| One-way Ticket (Local Transport) |
2,880.00 Col$ (0.70 $) |
1,431.10 Col$ (0.35 $) |
-50.3 % |
| Monthly Pass (Regular Price) |
165,000.00 Col$ (40.35 $) |
102,221.37 Col$ (25.00 $) |
-38.0 % |
| Taxi Start (Normal Tariff) |
5,000.00 Col$ (1.22 $) |
9,199.92 Col$ (2.25 $) |
+84.0 % |
| Taxi 1 mile (Normal Tariff) |
10,460.74 Col$ (2.56 $) |
9,870.56 Col$ (2.41 $) |
-5.6 % |
| Taxi 1hour Waiting (Normal Tariff) |
28,000.00 Col$ (6.85 $) |
81,777.10 Col$ (20.00 $) |
+192.1 % |
| Gasoline (1 gallon) |
9,973.97 Col$ (2.44 $) |
18,505.06 Col$ (4.53 $) |
+85.5 % |
| Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) |
78,000,000.00 Col$ (19,076.25 $) |
81,777,095.72 Col$ (20,000.00 $) |
+4.8 % |
| Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car) |
101,500,000.00 Col$ (24,823.58 $) |
83,792,317.01 Col$ (20,492.86 $) |
-17.4 % |
Utilities (Monthly) | Medellin Edit |
Panama City Edit | |
| Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment |
285,216.57 Col$ (69.75 $) |
452,950.24 Col$ (110.78 $) |
+58.8 % |
| Mobile Phone Monthly Plan with Calls and 10GB+ Data |
38,060.89 Col$ (9.31 $) |
124,198.96 Col$ (30.38 $) |
+226.3 % |
| Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) |
104,217.39 Col$ (25.49 $) |
208,252.81 Col$ (50.93 $) |
+99.8 % |
Sports And Leisure | Medellin Edit |
Panama City Edit | |
| Fitness Club, Monthly Fee for 1 Adult |
102,897.95 Col$ (25.17 $) |
181,167.72 Col$ (44.31 $) |
+76.1 % |
| Tennis Court Rent (1 Hour on Weekend) |
60,000.00 Col$ (14.67 $) |
93,459.54 Col$ (22.86 $) |
+55.8 % |
| Cinema, International Release, 1 Seat |
15,500.00 Col$ (3.79 $) |
26,577.56 Col$ (6.50 $) |
+71.5 % |
Childcare | Medellin Edit |
Panama City Edit | |
| Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child |
880,000.00 Col$ (215.22 $) |
1,615,097.64 Col$ (395.00 $) |
+83.5 % |
| International Primary School, Yearly for 1 Child |
23,033,333.33 Col$ (5,633.20 $) |
38,205,090.88 Col$ (9,343.71 $) |
+65.9 % |
Clothing And Shoes | Medellin Edit |
Panama City Edit | |
| 1 Pair of Jeans (Levis 501 Or Similar) |
202,155.99 Col$ (49.44 $) |
228,975.87 Col$ (56.00 $) |
+13.3 % |
| 1 Summer Dress in a Chain Store (Zara, H&M, ...) |
153,969.09 Col$ (37.66 $) |
167,302.31 Col$ (40.92 $) |
+8.7 % |
| 1 Pair of Nike Running Shoes (Mid-Range) |
333,272.16 Col$ (81.51 $) |
338,097.18 Col$ (82.69 $) |
+1.4 % |
| 1 Pair of Men Leather Business Shoes |
307,316.48 Col$ (75.16 $) |
369,569.57 Col$ (90.38 $) |
+20.3 % |
Rent Per Month | Medellin Edit |
Panama City Edit | |
| Apartment (1 bedroom) in City Centre |
1,606,295.87 Col$ (392.85 $) |
3,819,293.25 Col$ (934.07 $) |
+137.8 % |
| Apartment (1 bedroom) Outside of Centre |
1,341,126.68 Col$ (328.00 $) |
2,390,032.98 Col$ (584.52 $) |
+78.2 % |
| Apartment (3 bedrooms) in City Centre |
2,890,749.49 Col$ (706.98 $) |
8,871,037.12 Col$ (2,169.57 $) |
+206.9 % |
| Apartment (3 bedrooms) Outside of Centre |
2,630,468.00 Col$ (643.33 $) |
4,486,382.33 Col$ (1,097.22 $) |
+70.6 % |
Buy Apartment Price | Medellin Edit |
Panama City Edit | |
| Price per Square Feet to Buy Apartment in City Centre |
542,514.24 Col$ (132.68 $) |
935,414.80 Col$ (228.77 $) |
+72.4 % |
| Price per Square Feet to Buy Apartment Outside of Centre |
488,918.94 Col$ (119.57 $) |
499,230.62 Col$ (122.10 $) |
+2.1 % |
Salaries And Financing | Medellin Edit |
Panama City Edit | |
| Average Monthly Net Salary (After Tax) |
1,534,379.37 Col$ (375.26 $) |
3,545,467.51 Col$ (867.11 $) |
+131.1 % |
| Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate | 12.23 | 5.78 | -52.7 % |
| Last update: | September 2023 | September 2023 | |
| Contributors in the past 12 months: | 176 | 124 |
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