NUMBEO

Cost of Living in Panama City

Summary about cost of living in Panama City:

Restaurants [ Edit ] Range
Meal, Inexpensive Restaurant 9.25 $ 6.75-12.00
Meal for 2 People, Mid-range Restaurant, Three-course 45.00 $ 35.00-60.00
McMeal at McDonalds (or Equivalent Combo Meal) 6.50 $ 5.00-7.50
Domestic Beer (1 pint draught) 1.50 $ 1.00-3.00
Imported Beer (11.2 oz small bottle) 3.00 $ 2.00-5.00
Cappuccino (regular) 2.77 $ 2.00-3.80
Coke/Pepsi (11.2 oz small bottle) 1.02 $ 0.75-1.50
Water (11.2 oz small bottle) 1.03 $ 0.70-1.50
Markets [ Edit ]
Milk (regular), (1 gallon) 5.35 $ 4.62-6.44
Loaf of Fresh White Bread (1 lb) 1.67 $ 0.91-2.36
Rice (white), (1 lb) 0.71 $ 0.41-0.91
Eggs (regular) (12) 1.95 $ 1.87-2.20
Local Cheese (1 lb) 3.28 $ 1.36-5.16
Chicken Breasts (Boneless, Skinless), (1 lb) 3.13 $ 2.04-4.08
Beef Round (1 lb) (or Equivalent Back Leg Red Meat) 3.54 $ 2.45-4.31
Apples (1 lb) 1.54 $ 1.04-2.27
Banana (1 lb) 0.48 $ 0.45-0.50
Oranges (1 lb) 2.22 $ 1.13-2.72
Tomato (1 lb) 1.23 $ 0.91-1.64
Potato (1 lb) 0.83 $ 0.59-1.36
Onion (1 lb) 0.83 $ 0.60-0.91
Lettuce (1 head) 1.30 $ 1.00-1.80
Water (1.5 liter bottle) 1.32 $ 1.00-2.00
Bottle of Wine (Mid-Range) 10.00 $ 7.00-15.00
Domestic Beer (0.5 liter bottle) 0.84 $ 0.60-1.50
Imported Beer (11.2 oz small bottle) 2.02 $ 1.00-3.00
Pack of Cigarettes (Marlboro) 5.00 $ 5.00-5.50
Transportation [ Edit ]
One-way Ticket (Local Transport) 0.25 $ 0.25-0.35
Monthly Pass (Regular Price) 30.00 $ 25.00-35.00
Taxi Start (Normal Tariff) 2.00 $ 1.50-3.00
Taxi 1 mile (Normal Tariff) 3.22 $ 2.41-4.02
Taxi 1hour Waiting (Normal Tariff) 10.00 $ 6.00-15.00
Gasoline (1 gallon) 2.80 $ 2.61-3.22
Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) 17,000.00 $ 14,000.00-22,000.00
Toyota Corolla 1.6l 97kW Comfort (Or Equivalent New Car) 20,106.79 $ 16,000.00-22,000.00
Utilities (Monthly) [ Edit ]
Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment 82.40 $ 55.00-120.00
1 min. of Prepaid Mobile Tariff Local (No Discounts or Plans) 0.14 $ 0.10-0.25
Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) 43.96 $ 25.00-70.00
Sports And Leisure [ Edit ]
Fitness Club, Monthly Fee for 1 Adult 59.58 $ 45.00-75.80
Tennis Court Rent (1 Hour on Weekend) 22.14 $ 20.00-40.00
Cinema, International Release, 1 Seat 6.50 $ 5.00-8.00
Childcare [ Edit ]
Preschool (or Kindergarten), Private, Monthly for 1 Child 258.40 $ 175.00-400.00
International Primary School, Yearly for 1 Child 7,742.86 $ 2,400.00-14,000.00
Clothing And Shoes [ Edit ]
1 Pair of Jeans (Levis 501 Or Similar) 50.23 $ 30.00-65.00
1 Summer Dress in a Chain Store (Zara, H&M, ...) 39.67 $ 30.00-64.20
1 Pair of Nike Running Shoes (Mid-Range) 80.56 $ 60.00-100.00
1 Pair of Men Leather Business Shoes 80.70 $ 50.00-150.00
Rent Per Month [ Edit ]
Apartment (1 bedroom) in City Centre 1,025.00 $ 800.00-1,500.00
Apartment (1 bedroom) Outside of Centre 614.29 $ 450.00-800.00
Apartment (3 bedrooms) in City Centre 1,912.50 $ 1,500.00-2,500.00
Apartment (3 bedrooms) Outside of Centre 1,167.86 $ 900.00-1,800.00
Buy Apartment Price [ Edit ]
Price per Square Feet to Buy Apartment in City Centre 202.13 $ 185.80-278.71
Price per Square Feet to Buy Apartment Outside of Centre 134.39 $ 92.90-167.22
Salaries And Financing [ Edit ]
Average Monthly Net Salary (After Tax) 680.47 $
Mortgage Interest Rate in Percentages (%), Yearly 5.00 4.50-6.00

Prices in Panama City

These data are based on 1220 entries in the past 18 months from 130 different contributors.
Last update: October 2017
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22 Comments so far

#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 how4salecermano@aol.com
#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
#Carmen on May 06, 2015 :
Robert, Panama City is an international City with over 80 different banks. Panama City drawn 10 Billion dollars daily from the Canal alone. You can't compare Panama City to a Midwestern town in the US.

I live in the USA, in Phoenix, Arizona and you won't get anything but dump here at that price.!
#Mercedes on Apr 17, 2015 :
I love Panama ..i am from venezuela i wish i can get an offer to work in that country ... i already buy a house overthere but i hvent move yet. I speak english and spanish i see myself living cinfortable overthere working in a 5 stars hotel as a hsk manager or so
#Bill on Mar 18, 2015 :
Check out flexpay in Los pueblos or Gran Estacion if you need furniture electronics or appliances. They rent to own or temporarily. Makes finding an unfurnished apt easier if u need furniture etc. many apts don't have appliances. This is a great option
#Tito Perez on Aug 03, 2014 :
panama is a nice place to live. If unless you conduct business on a daily basis in Panama city, the city is not a good place to live. there's many nice neighborhoods outside the city were rent is in the $400 or less a month, for a house with privet gates. you just have to go out and fine it. word of mouth goes a long ways in Panama.
#ana on Jul 24, 2014 :
Living in Panama city is ok (comfy) if you earn up to 800$,
Renting a master bedroom 500$-600$, a mid size bedroom 350$-450$ and a service small bedroom 200$-250$ inside the city.
Renting a whole furnitured apartment will cost inside the city with at least with two bedrooms 900$
It is preferable to rent a room and share the apartment if case u want to save some money
Going to the movies 6$, burger king and mc donalds combo around 5$
Taxis inside the city max 6$ min 1.5$
Internet with cable 50$-70$
Cellular plan with 3G 15$ monthly
#shqiprim on Jun 11, 2014 :
I'm shqiprim Biba and'm from Kosovo, but I want to come in panama city to work and live a pretty good time because I heard you can officially travel to Panama without a visa thus you can with the profession I am indormoni are kpuctar I know very well the work of the hotel (waiter) thus you can tell someone how much you can earn per month with this profession would you tell me whether I was grateful to my address via Facebook shqiprim biba-chypa
   Thanks for understanding
#Cesar on Mar 26, 2014 :
Born in the Country of Panama, lived and worked in the USA NYC for 35 years, retired at 62 years in USA, now in Panama on $1750.00 a month and I live super comfortable and have enough to travel on vacation at least 3 times a year to NYC. Panama is safe people are great and happy easy going friendly and up on coming. Prices are great, yes if you want to live like Donald Trump in NY yes you will pay $3K per month in rent, but with $600 to $800 monthly you can afford 1,2 or 3 bedroom in secure space in comparison to someone renting for $5K in rent in NYC and with doorman and amenities.
Of the mayor 20 cities in the country of Panama, only 1 city to avoid in the country of Panama is the city of Colon because of the level of poverty.

According to the CIA World Factbook, as of 2011 Panama had an unemployment rate of 2.7%.[4] A food surplus was registered in August 2008. On the Human Development Index Panama was ranked at number 60 (2008). In recent years, Panama's economy has experienced an economic boom, with growth in real gross domestic product (GDP) averaging over 10.4% from 2006–2008. The Panamanian economy has been among the fastest growing and best managed in Latin America. Latin Business Chronicle has predicted that Panama will be the fastest growing economy in Latin America in the five-year period 2010–14, matching Brazil's 10% rate.[28]