Last update: Oct 2026

Cost of Living Comparison Between Asuncion and Panama City

For one person, living is cheaper in Asuncion: $1,049 a month against $1,837 in Panama City, rent and utilities included – about $9,500 less a year. Rent and utilities account for most of the difference.

51

Cost of Living Index in Asuncion
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Asuncion Living Index
90

Cost of Living Index in Panama City
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Panama City Living Index

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Asuncion

🇵🇾 Paraguay

$1,049

/mo nomad

Panama City

🇵🇦 Panama

$1,837

/mo nomad

Monthly Cost of Living

How much you'll spend in Asuncion and in Panama City

Real prices from locals and on-the-ground checks – rent, groceries, transit and the daily extras. Here's what a month in Asuncion and in Panama City actually costs, broken down by who's living it.

A single person spends $1,049 per month in Asuncion vs $1,837 in Panama City, rent included.

Asuncion $1,049
Panama City $1,837

A couple spends around $1,635 per month in Asuncion vs $2,825 in Panama City, rent included.

Asuncion $1,635
Panama City $2,825

A family of three spends $2,221 per month in Asuncion vs $3,812 in Panama City, rent included.

Asuncion $2,221
Panama City $3,812

Asuncion is about 43% cheaper than Panama City, and outside of rent the biggest gap is in groceries.

Asuncion sits 22% below the global median, while Panama City is 37% above – they fall on opposite sides of the world average.

Meal at Budget Restaurant

$6.66 ₲38.1K

$11.34 PAB 11.34

-41.27%

Three-Course Dinner for Two, Mid-Range

$43.46 ₲248.7K

$47.85 PAB 47.85

-9.17%

Fast Food Meal (McDonalds, etc)

$6.63 ₲37.9K

$8.07 PAB 8.07

-17.84%

Cappuccino

$3.44 ₲19.7K

$4.02 PAB 4.02

-14.43%

Coke/Pepsi/Fanta/Sprite (0.33 liter bottle)

$1.07 ₲6,096

$1.94 PAB 1.94

-44.85%

Water (0.33 liter bottle)

$0.58 ₲3,325

$1.62 PAB 1.62

-64.20%

Local Beer (0.5 liter draught)

$1.85 ₲10.6K

$3.26 PAB 3.26

-43.25%

Imported Beer (0.33 liter bottle)

$1.70 ₲9,721

$3.99 PAB 3.99

-57.39%

Milk (1 liter)

$1.25 ₲7,144

$1.83 PAB 1.83

-31.69%

White Bread (500g)

$1.49 ₲8,516

$2.57 PAB 2.57

-42.02%

Rice (white) (1kg)

$1.35 ₲7,707

$3.33 PAB 3.33

-59.46%

Eggs

$2.32 ₲13.3K

$2.69 PAB 2.69

-13.75%

Local Cheese (1kg)

$9.85 ₲56.4K

$12.33 PAB 12.33

-20.11%

Chicken Fillets (1kg)

$5.20 ₲29.8K

$6.69 PAB 6.69

-22.27%

Beef Round Steak (1kg)

$9.91 ₲56.7K

$10.40 PAB 10.40

-4.71%

Apples (1kg)

$2.99 ₲17.1K

$4.16 PAB 4.16

-28.13%

Banana (1kg)

$1.23 ₲7,017

$1.84 PAB 1.84

-33.15%

Oranges (1kg)

$1.21 ₲6,921

$4.18 PAB 4.18

-71.05%

Tomato (1kg)

$2.45 ₲14.0K

$4.08 PAB 4.08

-39.95%

Potato (1kg)

$1.30 ₲7,464

$3.50 PAB 3.50

-62.86%

Onion (1kg)

$1.34 ₲7,644

$4.37 PAB 4.37

-69.34%

Lettuce (1 head)

$0.84 ₲4,784

$2.34 PAB 2.34

-64.10%

Water (1.5 liter bottle)

$0.69 ₲3,957

$1.75 PAB 1.75

-60.57%

Cigarettes 20 Pack (Marlboro, Camel)

$2.24 ₲12.8K

$6.06 PAB 6.06

-63.04%

Wine (Bottle)

$9.02 ₲51.6K

$11.72 PAB 11.72

-23.04%

Local Beer (0.5 liter bottle)

$1.33 ₲7,597

$1.37 PAB 1.37

-2.92%

Imported Beer (0.33 liter bottle)

$1.68 ₲9,593

$2.84 PAB 2.84

-40.85%

One-way Ticket (Public Transport)

$0.57 ₲3,238

$0.36 PAB 0.36

58.33%

Public Transport Monthly Pass (Regular Price)

$38.02 ₲217.5K

$20.96 PAB 20.96

81.39%

Taxi Start (Normal Tariff)

$1.45 ₲8,289

$2.52 PAB 2.52

-42.46%

Taxi (Normal Tariff) (1km)

$1.57 ₲9,008

$1.79 PAB 1.79

-12.29%

Taxi 1hour Waiting (Normal Tariff)

$10.04 ₲57.4K

$22.01 PAB 22.01

-54.38%

Gasoline (1 liter)

$1.21 ₲6,897

$1.25 PAB 1.25

-3.20%

Midsize Hatchback 1.4l (Volkswagen Golf, Toyota Prius, Honda Civic, etc)

$16.9K ₲96.9M

$21.5K PAB 21.5K

-21.39%

Compact Sedan 1.6l (Toyota Corolla, Mazda3, Kia K4, Hyundai Elantra, etc)

$35.3K ₲202.2M

$21.2K PAB 21.2K

66.71%

Utilities for 2 People in 2-bedroom Apartment (Heating, Electricity, Gas, Water, Garbage) (85m2)

$50.1 ₲286.6K

$131 PAB 131

-61.82%

SIM Card Monthly Plan (Calls and 10GB+ Data)

$16.94 ₲96.9K

$27.68 PAB 27.68

-38.80%

Internet (50+ Mbps, Unlimited Data)

$21.75 ₲124.5K

$48.59 PAB 48.59

-55.24%

Gym Membership (Monthly)

$36.50 ₲208.9K

$46.11 PAB 46.11

-20.84%

Tennis Court (1 Hour on Weekend)

$14.89 ₲85.2K

$35.01 PAB 35.01

-57.47%

Cinema Ticket

$8.59 ₲49.2K

$8.73 PAB 8.73

-1.60%

Preschool or Kindergarten, Full Day, Private, 1 Child (Monthly)

$184 ₲1.1M

$551 PAB 551

-66.54%

International Primary School, 1 Child (Yearly)

$5,873 ₲33.6M

$9,560 PAB 9,560

-38.57%

Jeans (Levis 501 Or Similar)

$62.4 ₲357.2K

$67.6 PAB 67.6

-7.66%

Summer Dress (H&M, Zara, etc)

$55.4 ₲316.8K

$48.03 PAB 48.03

15.26%

Sport Shoes (Adidas, Nike)

$104 ₲597.0K

$94.9 PAB 94.9

9.95%

Men's Leather Business Shoes

$69.2 ₲395.8K

$113 PAB 113

-38.76%

1-bedroom Apartment, City Center (Monthly)

$620 ₲3.6M

$1,238 PAB 1,238

-49.87%

1-bedroom Apartment, Outside City Center (Monthly)

$373 ₲2.1M

$873 PAB 873

-57.27%

3-bedroom Apartment, City Center (Monthly)

$1,050 ₲6.0M

$2,197 PAB 2,197

-52.22%

3-bedroom Apartment, Outside City Center (Monthly)

$624 ₲3.6M

$1,538 PAB 1,538

-59.42%

Buy Apartment in City Center (m2)

$1,716 ₲9.8M

$3,116 PAB 3,116

-44.94%

Buy Apartment Outside City Center (m2)

$1,242 ₲7.1M

$1,725 PAB 1,725

-28.01%

Average Monthly Net Salary (After Tax)

$723 ₲4.1M

$934 PAB 934

-22.65%

20-Year Fixed Mortgage Interest Rate (Annual %)

10.15

6.39

58.84%

CityCost data is based on AI and user input – minor inaccuracies may occur.

Last update for Asuncion: October 4, 2026

Last update for Panama City: October 3, 2026

Monthly budget structure

Share of the monthly basket for one person, rent included.

Accommodation & Living

Asuncion

$373 35.8%

Panama City

$873 47.2% 134% $500

Groceries & Markets

Asuncion

$213 20.4%

Panama City

$324 17.5% 52.3% $111

Eating Out

Asuncion

$134 12.8%

Panama City

$202 10.9% 51% $68

Clothing & Footwear

Asuncion

$131 12.6%

Panama City

$146 7.9% 11% $14

Monthly Utilities & Internet

Asuncion

$89 8.5%

Panama City

$207 11.2% 134% $119

Sport & Entertainment

Asuncion

$54 5.2%

Panama City

$64 3.4% 18.4% $9.9

Getting Around

Asuncion

$50 4.8%

Panama City

$34 1.8% 31.7% $16

Cost Breakdown

A central one-bedroom costs $620 in Asuncion versus $1,238 in Panama City. Rent is usually the largest line item in a monthly budget, so the gap here sets the tone for the overall comparison.

Salaries run about 29% higher in Panama City, which partly offsets the higher cost of living there. Purchasing power depends on which expenses matter most to you.

A mid-range dinner for two costs $43.00 in Asuncion versus $48.00 in Panama City. Monthly groceries follow the same trend: $213 vs $324 – making Asuncion the more affordable choice for daily food spending.

Good to know

🇵🇾 Asuncion

🇵🇦 Panama City

🕒 Local time

00:51 12:51 AM

22:51 10:51 PM

2 h behind Asuncion

🌤 Weather

👥 Population

742,023 Capital

1,086,990 Capital

💱 Currency

Paraguayan Guarani PYG ₲

Panamanian Balboa PAB B/.

📈 Exchange rate

10,000 PYG = 1.75 USD

10,000 PYG = 1.56 EUR

1 PAB = 1 USD

1 PAB = 0.892 EUR

Exchange rates and currency converter

PAB, USD, EUR to PYG – Paraguayan Guarani Converter

🇺🇸 United States Dollar ($)

🇵🇾 Paraguayan Guarani (₲)

Paraguayan Guarani exchange rates as of October 10, 2026: 1 USD = 5,722 PYG (10,000 PYG = 1.75 USD). 1 EUR = 6,418 PYG (10,000 PYG = 1.56 EUR).

Panamanian Balboa exchange rates as of October 10, 2026: 1 USD = 1 PAB (1 PAB = 1 USD). 1 EUR = 1.12 PAB (1 PAB = 0.892 EUR).

USD to PYG in detail →

On the map

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Highest

Between locations

Asuncion Panama City 4,490 km ≈ 6 h nonstop flight

From you

Asuncion
Panama City

Distances are measured in a straight line. Your location is detected approximately.

City Median Internet Speeds Comparison (Updated April 2026)

The chart highlights the Precision Threshold for mobile and fixed broadband internet speeds, updated quarterly.

Digital Nomad Cost of Living Index

Asuncion vs Panama City: Cost of Living - Frequently Asked Questions

Yes – Panama City is pricier by about 75%, and outside of rent the gap shows up most in groceries.

For a comfortable life, plan on about $1,574 per month in Asuncion and $2,756 in Panama City. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Rent is clearly cheaper in Asuncion, especially for central apartments. Housing is actually the single biggest factor behind the overall cost gap between these two cities.

Public transport costs about 81% less in Asuncion. For daily commuters, that gap adds up to noticeable savings over a year.

Kindergarten costs $184 per month in Asuncion and $551 in Panama City. For families with young kids, this one expense can tip the scales when choosing between the two cities.

A $1,500 monthly budget goes further in Asuncion, where all-in costs run around $1,049, than in Panama City at $1,837. In Asuncion it covers expenses comfortably, while in Panama City it requires careful planning or may not stretch far enough.

Families tend to lean toward Asuncion – lower housing and cheaper childcare make a real difference, especially on a single income or when paying for private education.

If budget matters most, go with Asuncion. If higher salaries, better infrastructure, or specific career opportunities are the priority, Panama City makes more sense. Both are solid long-term options with distinct trade-offs.