Cost of Living in Panama City
Summary of cost of living in Panama City, Panama:
- A family of four estimated monthly costs are 2,631.6$ without rent (using our estimator).
- A single person estimated monthly costs are 741.3$ without rent.
- Panama City is 49.4% less expensive than New York (without rent, see our cost of living index).
- Rent in Panama City is, on average, 75.9% lower than in New York.
Restaurants |  Edit |
Range |
|---|---|---|
| Meal, Inexpensive Restaurant | 10.00 $ | |
| Meal for 2 People, Mid-range Restaurant, Three-course | 60.00 $ | |
| McMeal at McDonalds (or Equivalent Combo Meal) | 7.25 $ | |
| Domestic Beer (1 pint draught) | 2.50 $ | |
| Imported Beer (12 oz small bottle) | 4.00 $ | |
| Cappuccino (regular) | 3.54 $ | |
| Coke/Pepsi (12 oz small bottle) | 1.74 $ | |
| Water (12 oz small bottle) | 1.35 $ | |
Markets | Edit |
|
| Milk (regular), (1 gallon) | 6.18 $ | |
| Loaf of Fresh White Bread (1 lb) | 2.15 $ | |
| Rice (white), (1 lb) | 0.84 $ | |
| Eggs (regular) (12) | 2.22 $ | |
| Local Cheese (1 lb) | 4.01 $ | |
| Chicken Fillets (1 lb) | 3.25 $ | |
| Beef Round (1 lb) (or Equivalent Back Leg Red Meat) | 3.69 $ | |
| Apples (1 lb) | 1.41 $ | |
| Banana (1 lb) | 0.63 $ | |
| Oranges (1 lb) | 1.36 $ | |
| Tomato (1 lb) | 1.54 $ | |
| Potato (1 lb) | 0.89 $ | |
| Onion (1 lb) | 0.91 $ | |
| Lettuce (1 head) | 2.24 $ | |
| Water (1.5 liter bottle) | 1.45 $ | |
| Bottle of Wine (Mid-Range) | 9.00 $ | |
| Domestic Beer (0.5 liter bottle) | 1.28 $ | |
| Imported Beer (12 oz small bottle) | 1.81 $ | |
| Cigarettes 20 Pack (Marlboro) | 5.80 $ | |
Transportation | Edit |
|
| One-way Ticket (Local Transport) | 0.35 $ | |
| Monthly Pass (Regular Price) | 25.00 $ | |
| Taxi Start (Normal Tariff) | 2.00 $ | |
| Taxi 1 mile (Normal Tariff) | 2.82 $ | |
| Taxi 1hour Waiting (Normal Tariff) | 20.00 $ | |
| Gasoline (1 gallon) | 4.18 $ | |
| Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) | 20,000.00 $ | |
| Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car) | 18,827.78 $ | |
Utilities (Monthly) | Edit |
|
| Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment | 107.66 $ | |
| 1 min. of Prepaid Mobile Tariff Local (No Discounts or Plans) | 0.15 $ | |
| Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) | 51.72 $ | |
Sports And Leisure | Edit |
|
| Fitness Club, Monthly Fee for 1 Adult | 38.38 $ | |
| Tennis Court Rent (1 Hour on Weekend) | 21.88 $ | |
| Cinema, International Release, 1 Seat | 6.12 $ | |
Childcare | Edit |
|
| Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child | 395.00 $ | |
| International Primary School, Yearly for 1 Child | 9,343.71 $ | |
Clothing And Shoes | Edit |
|
| 1 Pair of Jeans (Levis 501 Or Similar) | 54.14 $ | |
| 1 Summer Dress in a Chain Store (Zara, H&M, ...) | 42.82 $ | |
| 1 Pair of Nike Running Shoes (Mid-Range) | 76.75 $ | |
| 1 Pair of Men Leather Business Shoes | 92.86 $ | |
Rent Per Month | Edit |
|
| Apartment (1 bedroom) in City Centre | 919.09 $ | |
| Apartment (1 bedroom) Outside of Centre | 527.63 $ | |
| Apartment (3 bedrooms) in City Centre | 1,888.64 $ | |
| Apartment (3 bedrooms) Outside of Centre | 970.16 $ | |
Buy Apartment Price | Edit |
|
| Price per Square Feet to Buy Apartment in City Centre | 230.57 $ | |
| Price per Square Feet to Buy Apartment Outside of Centre | 131.99 $ | |
Salaries And Financing | Edit |
|
| Average Monthly Net Salary (After Tax) | 832.50 $ | |
| Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate | 5.91 |
Prices in Panama City
This city had 1027 entries in the past 12 months by 102 different contributors.
Last update: May 2023
Last update: May 2023
Sources and References
Moving to Panama City? Explore:
Distribution of Expenses Using Our Statistical Model:
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Nearby cities:| Cost of Living in San Miguelito | 8.11 miles |
| Cost of Living in Tocumen | 15.44 miles |
| Cost of Living in Pacora | 19.85 miles |
| Cost of Living in El Coco | 33.93 miles |
| Cost of Living in Aguadulce | 127.78 miles |
| Cost of Living in Santiago | 161.98 miles |
This page in other languages:
 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
|
Leave a comment:7 Comments so far
AL SMART
on Sep 04, 2022:
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 SCAM online publications like Live & Invest Overseas trying to trick Americans and Canadians by touting Panama as a wonderful place to buy property and retire overseas. If you follow their advice about buying property in Panama (or anywhere else) you will LOSE a lot of your money very soon. They have a TERRIBLE performance record. Just ask anyone who bought property in Colombia, Brazil or Europe in the last few years based on their advice. Those people have already lost 50% of their money! If you listen to to idiots like Live and Invest Overseas, you deserve the losses you are guaranteed to incur. Now you can't say you were not warned. Caveat Emptor!
Suzana
on Aug 01, 2022:
I would like to know if 1200$ USD its a good salary to live in Panama City? I'm single ad I got a trainee offer in the city. There's someone that can help me please? Thank you.
Arthro
on May 21, 2021:
Came to Panama in 2004 tickets were $245USD 2021 may tickets $995.USD
Anonymous
on Dec 19, 2020:
Panama will always be expensive besides I don't care if Panama has 100% non occupancy rates.
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