Cost of Living in Panama City

Summary about cost of living in Panama City:

Restaurants [ Edit ] Range
Meal, Inexpensive Restaurant 10.00 $ 8.00-15.00
Meal for 2 People, Mid-range Restaurant, Three-course 40.00 $ 30.00-70.00
McMeal at McDonalds (or Equivalent Combo Meal) 6.88 $ 6.00-8.00
Domestic Beer (1 pint draught) 3.00 $ 2.00-5.00
Imported Beer (12 oz small bottle) 4.25 $ 3.00-5.00
Cappuccino (regular) 2.84 $ 2.00-4.00
Coke/Pepsi (12 oz small bottle) 1.27 $ 1.00-2.00
Water (12 oz small bottle) 1.02 $ 1.00-1.99
Markets [ Edit ]
Milk (regular), (1 gallon) 5.70 $ 4.73-6.32
Loaf of Fresh White Bread (1 lb) 1.61 $ 0.91-2.27
Rice (white), (1 lb) 0.68 $ 0.40-1.13
Eggs (regular) (12) 2.12 $ 1.79-2.98
Local Cheese (1 lb) 4.74 $ 2.27-9.07
Chicken Breasts (Boneless, Skinless), (1 lb) 3.17 $ 2.27-4.54
Beef Round (1 lb) (or Equivalent Back Leg Red Meat) 4.62 $ 2.72-6.80
Apples (1 lb) 1.63 $ 1.11-2.27
Banana (1 lb) 0.64 $ 0.45-1.00
Oranges (1 lb) 1.25 $ 0.45-1.81
Tomato (1 lb) 1.33 $ 1.00-1.81
Potato (1 lb) 0.79 $ 0.59-1.13
Onion (1 lb) 0.89 $ 0.62-1.25
Lettuce (1 head) 2.09 $ 1.35-2.60
Water (1.5 liter bottle) 1.55 $ 1.15-2.00
Bottle of Wine (Mid-Range) 8.50 $ 8.00-10.00
Domestic Beer (0.5 liter bottle) 0.79 $ 0.42-1.20
Imported Beer (12 oz small bottle) 2.60 $ 2.00-3.50
Cigarettes 20 Pack (Marlboro) 5.22 $ 5.00-6.00
Transportation [ Edit ]
One-way Ticket (Local Transport) 0.25 $ 0.25-0.35
Monthly Pass (Regular Price) 22.50 $ 16.80-30.00
Taxi Start (Normal Tariff) 2.00 $ 1.50-3.00
Taxi 1 mile (Normal Tariff) 3.22 $ 2.41-4.83
Taxi 1hour Waiting (Normal Tariff) 10.00 $ 7.50-15.00
Gasoline (1 gallon) 3.04 $ 2.65-3.37
Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) 17,925.00 $ 15,000.00-20,000.00
Toyota Corolla 1.6l 97kW Comfort (Or Equivalent New Car) 19,092.81 $ 16,500.00-22,000.00
Utilities (Monthly) [ Edit ]
Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment 102.71 $ 60.00-177.08
1 min. of Prepaid Mobile Tariff Local (No Discounts or Plans) 0.12 $ 0.08-0.25
Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) 47.61 $ 33.00-66.00
Sports And Leisure [ Edit ]
Fitness Club, Monthly Fee for 1 Adult 45.67 $ 25.00-60.00
Tennis Court Rent (1 Hour on Weekend) 25.00 $ 10.00-45.00
Cinema, International Release, 1 Seat 6.00 $ 5.25-8.00
Childcare [ Edit ]
Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child 270.32 $ 100.00-500.00
International Primary School, Yearly for 1 Child 6,645.00 $ 2,700.00-16,000.00
Clothing And Shoes [ Edit ]
1 Pair of Jeans (Levis 501 Or Similar) 47.96 $ 25.00-70.00
1 Summer Dress in a Chain Store (Zara, H&M, ...) 35.37 $ 25.00-50.00
1 Pair of Nike Running Shoes (Mid-Range) 65.17 $ 50.00-90.00
1 Pair of Men Leather Business Shoes 82.93 $ 50.00-120.00
Rent Per Month [ Edit ]
Apartment (1 bedroom) in City Centre 898.33 $ 600.00-1,250.00
Apartment (1 bedroom) Outside of Centre 614.00 $ 400.00-800.00
Apartment (3 bedrooms) in City Centre 1,532.00 $ 1,100.00-2,200.00
Apartment (3 bedrooms) Outside of Centre 1,071.43 $ 800.00-1,500.00
Buy Apartment Price [ Edit ]
Price per Square Feet to Buy Apartment in City Centre 200.67 $ 139.35-260.13
Price per Square Feet to Buy Apartment Outside of Centre 143.33 $ 92.90-185.80
Salaries And Financing [ Edit ]
Average Monthly Net Salary (After Tax) 775.43 $
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate 5.28 4.50-6.50

Prices in Panama City

These data are based on 1724 entries in the past 18 months from 171 different contributors.
Last update: October 2019
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DeutschLebenshaltungskosten in Panama-Stadt
PortuguêsCusto de Vida em Cidade do Panamá
ItalianoCosto della Vita a Panama City
FrançaisCoût de la Vie à Panama
EspañolCosto de Vida en Panamá

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22 Comments so far

#AL SMART on Aug 07, 2019 :
Everything is still insanely OVERPRICED in Panama City right now! Most hotels in Panama City have less than 50% occupancy rates and there are thousands of vacant apartments lying unsold in downtown Panama City right now. It is inevitable that real estate prices in Panama City will PLUNGE within the next couple of years. There are a couple of dubious online publications trying to trick Americans and Canadians by touting Panama as a wonderful place to buy property and retire overseas. If you follow their advice you will LOSE a lot of your money very soon!
#Ramiro on Aug 06, 2019 :
Cities to live near Panama, preferably if you dont need to work in the city, just if occasionally needs to go to the city are Costa Verde Chorrera great development in harmony with nature and great prices close to market plazas, schools and beachs 30 minutes approx. Altos del Maria (Mountains community 1’30 from city 20 from “Coronado small size city”). Panama Pacifico 20 min from city but little more expensive. This areas are safe and affordable, additional Panamanians by tradition are very welcoming and friendly to foreigners specially from Europe, Asia and North America.
#Veronika on Aug 06, 2019 :
Panama prices have increased, but still overall cheaper for retired couples, in Panama you can find a rich variety of destinations, El Valle, altos del Maria, playa Venao, San Blas, Isla Iguana, Coiba etc. Leaving in the country side allows you to get fresh organic vegetables from different communities for very cheap prices just buy the products from the locals and not from branded supermarkets, found additionally communities like Altos del Maria where there is a lot of retired couples from Europe and US were some grow their own vegetables and trade with one and others and only 20 minutes from Coronado where if you prefer can get all the branded groceries and items etc
#Christine on Apr 20, 2019 :
What are some cities 30 to 45 min from Panama city and what is the cost of living in those areas?
#Anonymous on Feb 25, 2019 :
Panama isn't some magical place as many may think.Its just another over blown tourist trap like Colombia is, nothing more.The 50% off for many things for retired people is just another falsehood the Panama government puts out there to draw people in nothing more.We've lived in Panama for almost 13 years now and never got discounts on anything and we're in our late 70'S.We'll leave Panama for greener pastures next month.
#AL SMART on Oct 28, 2018 :
Everything is insanely OVERPRICED in Panama City right now! Most hotels in Panama City have less than 50% occupancy rates and there are thousands of vacant apartments lying unsold in downtown Panama City right now. It is inevitable that real estate prices in Panama City will PLUNGE within the next couple of years. There are a couple of dubious online publications trying to trick Americans and Canadians by touting Panama as a wonderful place to buy property and retire overseas. If you follow their advice you will LOSE a lot of your money very soon!
#Francesco on Jan 02, 2018 :
to all europeans, Panama is not worth unless you are paid a lot of money especially with kids.
consider this; 2 adults and two kids trip to europe once a year will cost you at least 3000$ just to go back to europe.
if you have 3000$ budget for a vacation in Europe, you can go to Greece, Croatia, Italy and find beautiful beaches, art, great food and you will spend almost nothing on transport with ryanair or easy jet.
but from Panama if you want to go to San Blas or Bocas del Toro prepare to spend more and eat "arroz con pollo" and no trash collections anywhere.
Panama is a great place but not suited for long term european family.
also food is more expensive than Europe and less choice due to lack of competition and economy of scale.
consider also social security you are not paying in panama so no pension for you....
private schools (public school are no good) are 600/1000 per kid and in Europe are free and very good almost everywhere.

so to be better in Panama you should make at list 4x what are you making in Europe if not forget it
#Miguel Guerra on May 21, 2017 :
#KIM The market for Secretaries is saturated in Panama. Even Bilingual secretaries. You will need to have good connections and a degree in order to find a decently paying job. I recommend working for an international company and using your influence as an Exceutive Secretary to land a good job. Many companies have Regional Headquarters in Panama.

Two bedroom duplex near the city (where you would be working): At least $1200. It will be a nice place. Search encuentra24 for more info.
#Miguel Guerra on May 21, 2017 :
#Diego Jaslovici I recommend a salary of at least $1800 per month to live comfortable with a family of that size. This is to live in a house outside of the city, buy your own car and have children in a good school. Good Luck.
#Miguel Guerra on May 21, 2017 :
#Bobbie If you are certified in Underwater Welding you will have great job opportunities. Good Luck.
#Miguel Guerra on May 21, 2017 :
#Sandy That is not accurate at all. You can expect to make a min of $2k per month as a new Civil Engineer. $3/hr is what you can expect to make at McDonalds. I am a Geological Engineer and started making $65k a year. It helps to be bilingual. Your cousin needs to find a new employer.
#Rem on May 05, 2017 :
I'm from Mexico and buena Ventura panama is offering me a job. Any high schools close to this place. How expensive compare with Mexico is Panamá
#Anonymous on Mar 30, 2017 :
#D'angelo I have a 4 bedroom 2 bath house in a small city called Cermano. IT is about a 30 minute drive to the City, and about a 30 minute drive to a nice beach. IF you are interested in more information you can email me at
#D'angelo on Mar 09, 2017 :
Hi I'm moving my family to Panama within the next 3 months, where is a good place outside the city to find a house for rent and cost? I will buy a car so transportation will be easy. How long would $50,000 usd last a family of 5 2 adults 3 kids?
##Sandy on Feb 22, 2017 :
My cousin is a civil engineer in Panama City with a Master's Degree. He says he only makes $3.00/hr. Is this accurate?
#Bobbie on Dec 05, 2016 :
What kind of jobs are in the area ? Any welding jobs ?
#Anonymous on Dec 03, 2016 :
I am interested in moving to Panama. Are there any apartments for a single person for under $500 a month
#Diego Jaslovici on Jul 19, 2016 :
hello, they offered me a job in Panama and I have to move with my family of 4 persons. 2 adults and 2 children under 10 years. which would be a salary commensurate to leave my country and radicarme there?
#Ron on Jul 13, 2016 :
Minimum salary wage: around $600. Most panamanians have a salary under $1,000.00

Living cost - city centre
Renting a full apartment 2 bedrooms 2 bathrooms: $1300 average
Utility (Electricity, water, etc): $150.00
Internet, TV cable and basic telephone services: $75.00
Market expenses for a family of 3: approx. $800.00 monthly.
Private school for kids: $190.00 monthly.
Cellphone plan of around 1000 minutes and 2GB data: $60.00
Movies: $8.00; VIP: $13.00
Car insurance in case you buy a car: approx. $70.00 monthly
Public transportation is still really cheap.

To live comfortably in city centre with a family of three, I recommend a minimum income of $2,500.00 and this means moving around the city using public transportation. Living outside the city is cheaper but the family may require to buy a car in order to avoid traffic.
#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