Cost of Living in Panama City

Summary of cost of living in Panama City, Panama:

Restaurants
Edit Range
Meal, Inexpensive Restaurant 11.26 € 6.57-18.77
Meal for 2 People, Mid-range Restaurant, Three-course 56.31 € 37.54-93.86
McMeal at McDonalds (or Equivalent Combo Meal) 7.51 € 7.51-9.39
Domestic Beer (1 pint draught) 2.82 € 1.41-3.75
Imported Beer (12 oz small bottle) 3.75 € 2.35-5.63
Cappuccino (regular) 3.51 € 1.88-4.69
Coke/Pepsi (12 oz small bottle) 1.67 € 0.94-2.82
Water (12 oz small bottle) 1.24 € 0.94-2.82
Markets
Edit
Milk (regular), (1 gallon) 6.17 € 5.29-7.11
Loaf of Fresh White Bread (1 lb) 2.07 € 0.86-3.41
Rice (white), (1 lb) 0.88 € 0.43-1.87
Eggs (regular) (12) 2.34 € 1.13-3.10
Local Cheese (1 lb) 4.63 € 1.66-7.66
Chicken Fillets (1 lb) 3.14 € 1.62-5.02
Beef Round (1 lb) (or Equivalent Back Leg Red Meat) 3.71 € 1.70-6.81
Apples (1 lb) 1.31 € 0.64-2.13
Banana (1 lb) 0.61 € 0.38-1.28
Oranges (1 lb) 1.22 € 0.43-1.92
Tomato (1 lb) 1.33 € 0.47-1.70
Potato (1 lb) 0.90 € 0.43-1.28
Onion (1 lb) 0.91 € 0.43-1.70
Lettuce (1 head) 2.02 € 0.94-3.28
Water (1.5 liter bottle) 1.35 € 0.75-2.06
Bottle of Wine (Mid-Range) 7.51 € 4.69-13.14
Domestic Beer (0.5 liter bottle) 1.15 € 0.80-1.71
Imported Beer (12 oz small bottle) 1.81 € 0.98-3.00
Cigarettes 20 Pack (Marlboro) 5.63 € 4.69-7.04
Transportation
Edit
One-way Ticket (Local Transport) 0.33 € 0.23-0.47
Monthly Pass (Regular Price) 23.46 € 18.77-42.24
Taxi Start (Normal Tariff) 2.11 € 1.88-2.82
Taxi 1 mile (Normal Tariff) 2.27 € 1.51-3.02
Taxi 1hour Waiting (Normal Tariff) 18.77 € 13.14-23.46
Gasoline (1 gallon) 3.48 € 3.13-4.26
Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) 20,883.47 € 18,302.37-23,464.57
Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car) 19,235.74 € 18,302.37-23,464.57
Utilities (Monthly)
Edit
Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment 104.14 € 69.14-187.72
Mobile Phone Monthly Plan with Calls and 10GB+ Data 27.82 € 18.77-30.03
Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) 47.12 € 37.54-73.21
Sports And Leisure
Edit
Fitness Club, Monthly Fee for 1 Adult 39.05 € 16.88-75.09
Tennis Court Rent (1 Hour on Weekend) 23.46 € 18.77-23.46
Cinema, International Release, 1 Seat 6.57 € 4.69-9.39
Childcare
Edit
Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child 383.06 € 281.57-530.30
International Primary School, Yearly for 1 Child 9,081.49 € 4,692.91-13,140.16
Clothing And Shoes
Edit
1 Pair of Jeans (Levis 501 Or Similar) 50.62 € 32.85-75.09
1 Summer Dress in a Chain Store (Zara, H&M, ...) 37.62 € 9.39-60.07
1 Pair of Nike Running Shoes (Mid-Range) 77.64 € 42.24-112.63
1 Pair of Men Leather Business Shoes 87.15 € 46.93-140.79
Rent Per Month
Edit
Apartment (1 bedroom) in City Centre 880.70 € 610.08-1,407.87
Apartment (1 bedroom) Outside of Centre 576.73 € 375.43-750.87
Apartment (3 bedrooms) in City Centre 1,850.89 € 1,220.16-3,285.04
Apartment (3 bedrooms) Outside of Centre 1,110.66 € 657.01-2,628.03
Buy Apartment Price
Edit
Price per Square Feet to Buy Apartment in City Centre 210.95 € 174.39-261.59
Price per Square Feet to Buy Apartment Outside of Centre 127.06 € 87.20-174.39
Salaries And Financing
Edit
Average Monthly Net Salary (After Tax) 808.91 €
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate 6.07 5.00-7.00

Prices in Panama City

This city had 944 entries in the past 12 months by 85 different contributors.
Last update: April 2024
Sources and References
Distribution of Expenses Using Our Statistical Model:
Sign Up for Our Newsletter:
Your Email Address:
  
  
Leave a comment:

Your name: Sign In

Your email address (optional):

Your comment (no HTML):

6 Comments so far
Stefan PTY on Sep 21, 2023:
@Suzana 1200$/mo is not much in Panama City. You will survive but that's it.

@AL SMART What you write is true. The market has cooled down somewhat. Overall it is astonishingly stable. You can definitely find good deals if you put in the work. If you just go to the next best real estate agent you probably won't make a good buy.

@Panama City resident $934 should should not be too difficult to find for a one bedroom apartment.
Panama City resident on Sep 15, 2023:
One bedroom apartment costs 934??? where???? I live 10 miles from downtown, rent is 1400 a month.
AL SMART on Sep 04, 2022:
Everything is still insanely OVERPRICED in Panama City right now! Most hotels in Panama City have less than 50% occupancy rates and there are thousands of vacant apartments lying unsold in downtown Panama City right now. It is inevitable that real estate prices in Panama City will PLUNGE within the next couple of years. There are a couple of SCAM online publications like Live & Invest Overseas trying to trick Americans and Canadians by touting Panama as a wonderful place to buy property and retire overseas. If you follow their advice about buying property in Panama (or anywhere else) you will LOSE a lot of your money very soon. They have a TERRIBLE performance record. Just ask anyone who bought property in Colombia, Brazil or Europe in the last few years based on their advice. Those people have already lost 50% of their money! If you listen to to idiots like Live and Invest Overseas, you deserve the losses you are guaranteed to incur. Now you can't say you were not warned. Caveat Emptor!
Suzana on Aug 01, 2022:
I would like to know if 1200$ 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.