Last update: Oct 2026

Cost of Living Comparison Between Belo Horizonte and Panama City

For one person, living is cheaper in Belo Horizonte: $984 a month against $1,837 in Panama City, rent and utilities included – about $10,200 less a year. Rent and utilities account for most of the difference.

47

Cost of Living Index in Belo Horizonte
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Belo Horizonte Living Index
90

Cost of Living Index in Panama City
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Panama City Living Index

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Belo Horizonte

🇧🇷 Brazil

$984

/mo nomad

Panama City

🇵🇦 Panama

$1,837

/mo nomad

Monthly Cost of Living

How much you'll spend in Belo Horizonte 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 Belo Horizonte and in Panama City actually costs, broken down by who's living it.

Monthly costs for one person with rent: $984 in Belo Horizonte versus $1,837 in Panama City.

Belo Horizonte $984
Panama City $1,837

Estimated couple costs with rent: $1,589 in Belo Horizonte versus $2,825 in Panama City.

Belo Horizonte $1,589
Panama City $2,825

Monthly costs for a family of three with rent: $2,193 in Belo Horizonte versus $3,812 in Panama City.

Belo Horizonte $2,193
Panama City $3,812

Living in Belo Horizonte costs roughly 46% less than in Panama City, and outside of rent the biggest gap is in groceries.

The two cities straddle the global median: Belo Horizonte is 27% below, Panama City is 37% above.

Meal at Budget Restaurant

$5.90 R$29.46

$11.34 PAB 11.34

-47.97%

Three-Course Dinner for Two, Mid-Range

$37.35 R$186

$47.85 PAB 47.85

-21.94%

Fast Food Meal (McDonalds, etc)

$8.86 R$44.22

$8.07 PAB 8.07

9.79%

Cappuccino

$2.27 R$11.36

$4.02 PAB 4.02

-43.53%

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

$1.43 R$7.13

$1.94 PAB 1.94

-26.29%

Water (0.33 liter bottle)

$0.81 R$4.05

$1.62 PAB 1.62

-50.00%

Local Beer (0.5 liter draught)

$2.12 R$10.60

$3.26 PAB 3.26

-34.97%

Imported Beer (0.33 liter bottle)

$3.67 R$18.32

$3.99 PAB 3.99

-8.02%

Milk (1 liter)

$0.95 R$4.72

$1.83 PAB 1.83

-48.09%

White Bread (500g)

$1.82 R$9.09

$2.57 PAB 2.57

-29.18%

Rice (white) (1kg)

$2.08 R$10.39

$3.33 PAB 3.33

-37.54%

Eggs

$2.22 R$11.07

$2.69 PAB 2.69

-17.47%

Local Cheese (1kg)

$9.91 R$49.47

$12.33 PAB 12.33

-19.63%

Chicken Fillets (1kg)

$4.33 R$21.63

$6.69 PAB 6.69

-35.28%

Beef Round Steak (1kg)

$7.63 R$38.10

$10.40 PAB 10.40

-26.63%

Apples (1kg)

$1.93 R$9.66

$4.16 PAB 4.16

-53.61%

Banana (1kg)

$1.15 R$5.75

$1.84 PAB 1.84

-37.50%

Oranges (1kg)

$1.20 R$5.98

$4.18 PAB 4.18

-71.29%

Tomato (1kg)

$1.65 R$8.23

$4.08 PAB 4.08

-59.56%

Potato (1kg)

$1.15 R$5.74

$3.50 PAB 3.50

-67.14%

Onion (1kg)

$0.97 R$4.86

$4.37 PAB 4.37

-77.80%

Lettuce (1 head)

$0.85 R$4.23

$2.34 PAB 2.34

-63.68%

Water (1.5 liter bottle)

$0.92 R$4.58

$1.75 PAB 1.75

-47.43%

Cigarettes 20 Pack (Marlboro, Camel)

$2.47 R$12.33

$6.06 PAB 6.06

-59.24%

Wine (Bottle)

$8.23 R$41.09

$11.72 PAB 11.72

-29.78%

Local Beer (0.5 liter bottle)

$1.43 R$7.15

$1.37 PAB 1.37

4.38%

Imported Beer (0.33 liter bottle)

$2.74 R$13.68

$2.84 PAB 2.84

-3.52%

One-way Ticket (Public Transport)

$1.25 R$6.26

$0.36 PAB 0.36

247.22%

Public Transport Monthly Pass (Regular Price)

$68.0 R$339

$20.96 PAB 20.96

224.33%

Taxi Start (Normal Tariff)

$1.02 R$5.10

$2.52 PAB 2.52

-59.52%

Taxi (Normal Tariff) (1km)

$0.77 R$3.84

$1.79 PAB 1.79

-56.98%

Taxi 1hour Waiting (Normal Tariff)

$6.32 R$31.53

$22.01 PAB 22.01

-71.29%

Gasoline (1 liter)

$1.32 R$6.58

$1.25 PAB 1.25

5.60%

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

$24.0K R$119.9K

$21.5K PAB 21.5K

11.51%

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

$32.5K R$162.1K

$21.2K PAB 21.2K

53.23%

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

$76.1 R$380

$131 PAB 131

-42.00%

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

$10.33 R$51.6

$27.68 PAB 27.68

-62.68%

Internet (50+ Mbps, Unlimited Data)

$21.02 R$105

$48.59 PAB 48.59

-56.74%

Gym Membership (Monthly)

$28.07 R$140

$46.11 PAB 46.11

-39.12%

Tennis Court (1 Hour on Weekend)

$46.30 R$231

$35.01 PAB 35.01

32.25%

Cinema Ticket

$7.90 R$39.41

$8.73 PAB 8.73

-9.51%

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

$459 R$2,292

$551 PAB 551

-16.61%

International Primary School, 1 Child (Yearly)

$13.8K R$69.0K

$9,560 PAB 9,560

44.54%

Jeans (Levis 501 Or Similar)

$62.0 R$309

$67.6 PAB 67.6

-8.34%

Summer Dress (H&M, Zara, etc)

$48.86 R$244

$48.03 PAB 48.03

1.73%

Sport Shoes (Adidas, Nike)

$97.6 R$487

$94.9 PAB 94.9

2.86%

Men's Leather Business Shoes

$71.5 R$357

$113 PAB 113

-36.67%

1-bedroom Apartment, City Center (Monthly)

$590 R$2,945

$1,238 PAB 1,238

-52.33%

1-bedroom Apartment, Outside City Center (Monthly)

$292 R$1,456

$873 PAB 873

-66.60%

3-bedroom Apartment, City Center (Monthly)

$890 R$4,440

$2,197 PAB 2,197

-59.51%

3-bedroom Apartment, Outside City Center (Monthly)

$591 R$2,950

$1,538 PAB 1,538

-61.58%

Buy Apartment in City Center (m2)

$2,358 R$11.8K

$3,116 PAB 3,116

-24.31%

Buy Apartment Outside City Center (m2)

$1,121 R$5,598

$1,725 PAB 1,725

-34.98%

Average Monthly Net Salary (After Tax)

$613 R$3,062

$934 PAB 934

-34.35%

20-Year Fixed Mortgage Interest Rate (Annual %)

11.25

6.39

76.06%

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

Last update for Belo Horizonte: 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

Belo Horizonte

$292 30%

Panama City

$873 47.2% 199% $582

Groceries & Markets

Belo Horizonte

$198 20.3%

Panama City

$324 17.5% 64.1% $127

Eating Out

Belo Horizonte

$128 13.2%

Panama City

$202 10.9% 57.6% $74

Clothing & Footwear

Belo Horizonte

$126 13%

Panama City

$146 7.9% 15.6% $20

Monthly Utilities & Internet

Belo Horizonte

$107 11.1%

Panama City

$207 11.2% 93.1% $100

Getting Around

Belo Horizonte

$78 8%

Panama City

$34 1.8% 56.5% $44

Sport & Entertainment

Belo Horizonte

$44 4.5%

Panama City

$64 3.4% 44.9% $20

Cost Breakdown

A one-bedroom apartment in the center runs $590 in Belo Horizonte and $1,238 in Panama City. Housing cost is often the main lever when comparing two cities.

Panama City pays 52% more on average. The extra income cushions the higher costs, though housing choices and lifestyle decide how much of the gap is truly closed.

Dining out: $37.00 in Belo Horizonte vs $48.00 in Panama City for a mid-range dinner for two. Groceries echo the gap at $198 vs $324 per month, with Belo Horizonte cheaper across the board.

Good to know

🇧🇷 Belo Horizonte

🇵🇦 Panama City

🕒 Local time

05:56 5:56 AM

03:56 3:56 AM

2 h behind Belo Horizonte

🌤 Weather

👥 Population

2,315,560

1,086,990 Capital

💱 Currency

Brazilian Real BRL R$

Panamanian Balboa PAB B/.

📈 Exchange rate

1 BRL = 0.2 USD

1 BRL = 0.179 EUR

1 PAB = 1 USD

1 PAB = 0.892 EUR

Exchange rates and currency converter

PAB, USD, EUR to BRL – Brazilian Real Converter

🇺🇸 United States Dollar ($)

🇧🇷 Brazilian Real (R$)

Brazilian Real exchange rates as of October 10, 2026: 1 USD = 4.99 BRL (1 BRL = 0.2 USD). 1 EUR = 5.6 BRL (1 BRL = 0.179 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 BRL in detail →

On the map

Lowest

Highest

Between locations

Belo Horizonte Panama City 5,050 km ≈ 7 h nonstop flight

From you

Belo Horizonte
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

Belo Horizonte vs Panama City: Cost of Living - Frequently Asked Questions

Belo Horizonte and Panama City differ by about 87% in total monthly costs ($984 vs $1,837 including rent). Belo Horizonte is meaningfully more affordable – a gap that matters a lot on a fixed or modest income.

On paper, salaries run 52% lower in Panama City. That's worth factoring in alongside costs, though remote workers earning in a stronger currency may not notice the difference at all.

Rent for a central apartment: $590 in Belo Horizonte versus $1,238 in Panama City. Housing is usually the single largest factor when comparing overall living costs between the two.

Childcare runs $459 in Belo Horizonte versus $551 in Panama City. Over years of preschool, even a modest monthly gap compounds into a major financial factor for families.

Supermarket bills run roughly 64% higher in Panama City. For households that cook at home regularly, that difference adds up over a month.

At $984 in Belo Horizonte versus $1,837 in Panama City, a $2,000 budget is realistic in Belo Horizonte but tight or insufficient in Panama City. The gap between the two cities makes Belo Horizonte the clear choice for anyone on this budget.

Both cities offer a good standard of living with different trade-offs. Neither is objectively better – the right pick depends on what matters most: affordability, career, cultural scene, or climate.

Expats usually find Belo Horizonte gentler on the wallet – expenses run 87% less than in Panama City. Beyond cost, consider language, visa policies, and how big the international community is in each city.