Cost of Living Comparison Between Panama City and Medellin 
| Indices Difference |  |
|---|---|
| Consumer Prices in Medellin are 31.9% lower than in Panama City (without rent) | |
| Consumer Prices Including Rent in Medellin are 37.1% lower than in Panama City | |
| Rent Prices in Medellin are 48.5% lower than in Panama City | |
| Restaurant Prices in Medellin are 49.4% lower than in Panama City | |
| Groceries Prices in Medellin are 34.0% lower than in Panama City | |
| Local Purchasing Power in Medellin is 20.4% lower than in Panama City | |
Restaurants | Panama City Edit |
Medellin Edit | Difference |
|---|---|---|---|
| Meal, Inexpensive Restaurant |
11.75 $ (45,726.41 Col$) |
5.65 $ (22,000.00 Col$) |
-51.9 % |
| Meal for 2 People, Mid-range Restaurant, Three-course |
60.00 $ (233,496.57 Col$) |
28.27 $ (110,000.00 Col$) |
-52.9 % |
| McMeal at McDonalds (or Equivalent Combo Meal) |
8.25 $ (32,105.78 Col$) |
6.42 $ (25,000.00 Col$) |
-22.1 % |
| Domestic Beer (1 pint draught) |
3.00 $ (11,674.83 Col$) |
1.28 $ (5,000.00 Col$) |
-57.2 % |
| Imported Beer (12 oz small bottle) |
4.00 $ (15,566.44 Col$) |
2.70 $ (10,500.00 Col$) |
-32.5 % |
| Cappuccino (regular) |
3.72 $ (14,462.29 Col$) |
1.61 $ (6,277.04 Col$) |
-56.6 % |
| Coke/Pepsi (12 oz small bottle) |
1.81 $ (7,024.67 Col$) |
0.97 $ (3,791.08 Col$) |
-46.0 % |
| Water (12 oz small bottle) |
1.33 $ (5,192.46 Col$) |
0.71 $ (2,779.26 Col$) |
-46.5 % |
Markets | Panama City Edit |
Medellin Edit | |
| Milk (regular), (1 gallon) |
6.58 $ (25,614.13 Col$) |
4.30 $ (16,752.03 Col$) |
-34.6 % |
| Loaf of Fresh White Bread (1 lb) |
2.21 $ (8,591.99 Col$) |
1.18 $ (4,590.87 Col$) |
-46.6 % |
| Rice (white), (1 lb) |
0.93 $ (3,602.06 Col$) |
0.57 $ (2,201.24 Col$) |
-38.9 % |
| Eggs (regular) (12) |
2.52 $ (9,789.02 Col$) |
2.17 $ (8,442.09 Col$) |
-13.8 % |
| Local Cheese (1 lb) |
4.93 $ (19,197.59 Col$) |
2.38 $ (9,274.59 Col$) |
-51.7 % |
| Chicken Fillets (1 lb) |
3.39 $ (13,186.09 Col$) |
2.62 $ (10,202.72 Col$) |
-22.6 % |
| Beef Round (1 lb) (or Equivalent Back Leg Red Meat) |
4.06 $ (15,817.61 Col$) |
4.41 $ (17,170.34 Col$) |
+8.6 % |
| Apples (1 lb) |
1.36 $ (5,303.66 Col$) |
1.06 $ (4,127.97 Col$) |
-22.2 % |
| Banana (1 lb) |
0.65 $ (2,511.91 Col$) |
0.43 $ (1,663.11 Col$) |
-33.8 % |
| Oranges (1 lb) |
1.30 $ (5,039.97 Col$) |
0.55 $ (2,132.35 Col$) |
-57.7 % |
| Tomato (1 lb) |
1.43 $ (5,561.17 Col$) |
0.66 $ (2,553.99 Col$) |
-54.1 % |
| Potato (1 lb) |
0.94 $ (3,659.95 Col$) |
0.52 $ (2,026.99 Col$) |
-44.6 % |
| Onion (1 lb) |
0.96 $ (3,717.57 Col$) |
0.54 $ (2,118.77 Col$) |
-43.0 % |
| Lettuce (1 head) |
2.18 $ (8,474.55 Col$) |
0.85 $ (3,309.10 Col$) |
-61.0 % |
| Water (1.5 liter bottle) |
1.44 $ (5,612.11 Col$) |
0.80 $ (3,117.08 Col$) |
-44.5 % |
| Bottle of Wine (Mid-Range) |
8.50 $ (33,078.68 Col$) |
10.15 $ (39,487.24 Col$) |
+19.4 % |
| Domestic Beer (0.5 liter bottle) |
1.23 $ (4,780.44 Col$) |
1.17 $ (4,561.78 Col$) |
-4.6 % |
| Imported Beer (12 oz small bottle) |
1.93 $ (7,508.52 Col$) |
2.01 $ (7,837.86 Col$) |
+4.4 % |
| Cigarettes 20 Pack (Marlboro) |
6.00 $ (23,349.66 Col$) |
2.31 $ (9,000.00 Col$) |
-61.5 % |
Transportation | Panama City Edit |
Medellin Edit | |
| One-way Ticket (Local Transport) |
0.35 $ (1,362.06 Col$) |
0.75 $ (2,900.00 Col$) |
+112.9 % |
| Monthly Pass (Regular Price) |
25.00 $ (97,290.24 Col$) |
51.39 $ (200,000.00 Col$) |
+105.6 % |
| Taxi Start (Normal Tariff) |
2.25 $ (8,756.12 Col$) |
1.28 $ (5,000.00 Col$) |
-42.9 % |
| Taxi 1 mile (Normal Tariff) |
2.41 $ (9,394.41 Col$) |
3.31 $ (12,874.76 Col$) |
+37.0 % |
| Taxi 1hour Waiting (Normal Tariff) |
20.00 $ (77,832.19 Col$) |
7.71 $ (30,000.00 Col$) |
-61.5 % |
| Gasoline (1 gallon) |
3.71 $ (14,453.80 Col$) |
3.53 $ (13,756.20 Col$) |
-4.8 % |
| Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) |
22,250.00 $ (86,588,311.89 Col$) |
20,043.12 $ (78,000,000.00 Col$) |
-9.9 % |
| Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car) |
20,494.44 $ (79,756,375.17 Col$) |
28,013.70 $ (109,018,363.32 Col$) |
+36.7 % |
Utilities (Monthly) | Panama City Edit |
Medellin Edit | |
| Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment |
113.79 $ (442,827.19 Col$) |
77.60 $ (302,006.39 Col$) |
-31.8 % |
| Mobile Phone Monthly Plan with Calls and 10GB+ Data |
29.33 $ (114,153.88 Col$) |
10.01 $ (38,971.75 Col$) |
-65.9 % |
| Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) |
51.09 $ (198,819.55 Col$) |
24.43 $ (95,082.85 Col$) |
-52.2 % |
Sports And Leisure | Panama City Edit |
Medellin Edit | |
| Fitness Club, Monthly Fee for 1 Adult |
41.50 $ (161,501.80 Col$) |
26.87 $ (104,564.13 Col$) |
-35.3 % |
| Tennis Court Rent (1 Hour on Weekend) |
25.00 $ (97,290.24 Col$) |
14.13 $ (55,000.00 Col$) |
-43.5 % |
| Cinema, International Release, 1 Seat |
7.00 $ (27,241.27 Col$) |
4.24 $ (16,500.00 Col$) |
-39.4 % |
Childcare | Panama City Edit |
Medellin Edit | |
| Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child |
408.12 $ (1,588,263.14 Col$) |
221.31 $ (861,250.00 Col$) |
-45.8 % |
| International Primary School, Yearly for 1 Child |
9,675.75 $ (37,654,240.84 Col$) |
6,488.32 $ (25,250,000.00 Col$) |
-32.9 % |
Clothing And Shoes | Panama City Edit |
Medellin Edit | |
| 1 Pair of Jeans (Levis 501 Or Similar) |
53.94 $ (209,903.69 Col$) |
54.30 $ (211,309.07 Col$) |
+0.7 % |
| 1 Summer Dress in a Chain Store (Zara, H&M, ...) |
40.79 $ (158,722.07 Col$) |
39.15 $ (152,352.94 Col$) |
-4.0 % |
| 1 Pair of Nike Running Shoes (Mid-Range) |
82.58 $ (321,365.02 Col$) |
88.10 $ (342,857.14 Col$) |
+6.7 % |
| 1 Pair of Men Leather Business Shoes |
92.86 $ (361,363.74 Col$) |
82.87 $ (322,478.73 Col$) |
-10.8 % |
Rent Per Month | Panama City Edit |
Medellin Edit | |
| Apartment (1 bedroom) in City Centre |
938.33 $ (3,651,626.94 Col$) |
461.30 $ (1,795,207.32 Col$) |
-50.8 % |
| Apartment (1 bedroom) Outside of Centre |
614.47 $ (2,391,291.64 Col$) |
356.49 $ (1,387,308.71 Col$) |
-42.0 % |
| Apartment (3 bedrooms) in City Centre |
1,953.85 $ (7,603,606.30 Col$) |
843.20 $ (3,281,411.11 Col$) |
-56.8 % |
| Apartment (3 bedrooms) Outside of Centre |
1,183.33 $ (4,605,071.27 Col$) |
757.83 $ (2,949,184.78 Col$) |
-36.0 % |
Buy Apartment Price | Panama City Edit |
Medellin Edit | |
| Price per Square Feet to Buy Apartment in City Centre |
228.61 $ (889,645.03 Col$) |
167.97 $ (653,689.22 Col$) |
-26.5 % |
| Price per Square Feet to Buy Apartment Outside of Centre |
135.37 $ (526,814.48 Col$) |
148.12 $ (576,422.83 Col$) |
+9.4 % |
Salaries And Financing | Panama City Edit |
Medellin Edit | |
| Average Monthly Net Salary (After Tax) |
861.84 $ (3,353,952.94 Col$) |
431.73 $ (1,680,133.00 Col$) |
-49.9 % |
| Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate | 6.07 | 14.23 | +134.3 % |
| Last update: | April 2024 | April 2024 | |
| Contributors in the past 12 months: | 86 | 116 |
Moving to Medellin? Explore:
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