Last update: Oct 2026

Cost of Living Comparison Between Boquete and Medellin

For one person, living is cheaper in Boquete: $1,438 a month against $1,639 in Medellin, rent and utilities included – about $2,400 less a year. Other living expenses account for most of the difference.

70

Cost of Living Index in Boquete
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Boquete Living Index
79

Cost of Living Index in Medellin
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Medellin Living Index

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Boquete

🇵🇦 Panama

$1,438

/mo nomad

Medellin

🇨🇴 Colombia

$1,639

/mo nomad

Monthly Cost of Living

How much you'll spend in Boquete and in Medellin

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

Monthly costs for one person with rent: $1,438 in Boquete versus $1,639 in Medellin.

Boquete $1,438
Medellin $1,639

Estimated couple costs with rent: $2,232 in Boquete versus $2,413 in Medellin.

Boquete $2,232
Medellin $2,413

Monthly costs for a family of three with rent: $3,026 in Boquete versus $3,186 in Medellin.

Boquete $3,026
Medellin $3,186

Living in Boquete costs roughly 12% less than in Medellin, and outside of rent the biggest gap is in clothing.

Both cities are pricier than the global median: Boquete 6% above, Medellin 20% above.

Meal at Budget Restaurant

$6.34 PAB 6.34

$8.09 COP 26.1K

-21.63%

Three-Course Dinner for Two, Mid-Range

$40.22 PAB 40.22

$47.05 COP 151.7K

-14.52%

Fast Food Meal (McDonalds, etc)

$7.31 PAB 7.31

$9.50 COP 30.6K

-23.05%

Cappuccino

$3.73 PAB 3.73

$3.01 COP 9,722

23.92%

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

$1.34 PAB 1.34

$1.80 COP 5,801

-25.56%

Water (0.33 liter bottle)

$1.20 PAB 1.20

$1.41 COP 4,554

-14.89%

Local Beer (0.5 liter draught)

$2.29 PAB 2.29

$3.18 COP 10.2K

-27.99%

Imported Beer (0.33 liter bottle)

$5.11 PAB 5.11

$5.75 COP 18.5K

-11.13%

Milk (1 liter)

$1.83 PAB 1.83

$1.51 COP 4,869

21.19%

White Bread (500g)

$2.14 PAB 2.14

$2.38 COP 7,667

-10.08%

Rice (white) (1kg)

$2.15 PAB 2.15

$1.77 COP 5,712

21.47%

Eggs

$2.51 PAB 2.51

$2.89 COP 9,320

-13.15%

Local Cheese (1kg)

$9.32 PAB 9.32

$10.19 COP 32.9K

-8.54%

Chicken Fillets (1kg)

$7.49 PAB 7.49

$9.87 COP 31.8K

-24.11%

Beef Round Steak (1kg)

$15.36 PAB 15.36

$13.99 COP 45.1K

9.79%

Apples (1kg)

$4.49 PAB 4.49

$3.97 COP 12.8K

13.10%

Banana (1kg)

$0.99 PAB 0.99

$1.55 COP 5,005

-36.13%

Oranges (1kg)

$4.28 PAB 4.28

$2.18 COP 7,039

96.33%

Tomato (1kg)

$2.19 PAB 2.19

$2.18 COP 7,041

0.46%

Potato (1kg)

$2.15 PAB 2.15

$1.96 COP 6,328

9.69%

Onion (1kg)

$2.26 PAB 2.26

$1.59 COP 5,125

42.14%

Lettuce (1 head)

$2.20 PAB 2.20

$1.15 COP 3,694

91.30%

Water (1.5 liter bottle)

$1.71 PAB 1.71

$1.24 COP 4,009

37.90%

Cigarettes 20 Pack (Marlboro, Camel)

$5.02 PAB 5.02

$3.96 COP 12.8K

26.77%

Wine (Bottle)

$8.13 PAB 8.13

$13.68 COP 44.1K

-40.57%

Local Beer (0.5 liter bottle)

$1.15 PAB 1.15

$1.66 COP 5,352

-30.72%

Imported Beer (0.33 liter bottle)

$2.61 PAB 2.61

$2.26 COP 7,281

15.49%

One-way Ticket (Public Transport)

$1.42 PAB 1.42

$1.17 COP 3,766

21.37%

Public Transport Monthly Pass (Regular Price)

$24.84 PAB 24.84

$77.4 COP 249.5K

-67.89%

Taxi Start (Normal Tariff)

$1.02 PAB 1.02

$1.27 COP 4,089

-19.69%

Taxi (Normal Tariff) (1km)

$2.05 PAB 2.05

$2.05 COP 6,603

Taxi 1hour Waiting (Normal Tariff)

$29.44 PAB 29.44

$8.55 COP 27.6K

244.33%

Gasoline (1 liter)

$1.14 PAB 1.14

$1.35 COP 4,343

-15.56%

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

$26.0K PAB 26.0K

$34.1K COP 109.8M

-23.74%

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

$22.4K PAB 22.4K

$34.7K COP 111.8M

-35.34%

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

$59.2 PAB 59.2

$170 COP 547.0K

-65.12%

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

$26.16 PAB 26.16

$13.55 COP 43.7K

93.06%

Internet (50+ Mbps, Unlimited Data)

$43.16 PAB 43.16

$28.07 COP 90.5K

53.76%

Gym Membership (Monthly)

$82.1 PAB 82.1

$43.70 COP 140.9K

87.85%

Tennis Court (1 Hour on Weekend)

$17.19 PAB 17.19

$17.19 COP 55.4K

Cinema Ticket

$6.63 PAB 6.63

$6.91 COP 22.3K

-4.05%

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

$797 COP 2.6M

International Primary School, 1 Child (Yearly)

$5,932 PAB 5,932

$9,112 COP 29.4M

-34.90%

Jeans (Levis 501 Or Similar)

$24.90 PAB 24.90

$84.7 COP 273.2K

-70.61%

Summer Dress (H&M, Zara, etc)

$25.18 PAB 25.18

$58.0 COP 186.9K

-56.56%

Sport Shoes (Adidas, Nike)

$44.37 PAB 44.37

$135 COP 435.2K

-67.12%

Men's Leather Business Shoes

$97.9 COP 315.6K

1-bedroom Apartment, City Center (Monthly)

$840 PAB 840

$1,208 COP 3.9M

-30.47%

1-bedroom Apartment, Outside City Center (Monthly)

$687 PAB 687

$642 COP 2.1M

7.03%

3-bedroom Apartment, City Center (Monthly)

$1,540 PAB 1,540

$2,028 COP 6.5M

-24.05%

3-bedroom Apartment, Outside City Center (Monthly)

$1,302 PAB 1,302

$1,012 COP 3.3M

28.70%

Buy Apartment in City Center (m2)

$1,198 PAB 1,198

$4,170 COP 13.4M

-71.27%

Buy Apartment Outside City Center (m2)

$1,158 PAB 1,158

$1,910 COP 6.2M

-39.37%

Average Monthly Net Salary (After Tax)

$797 PAB 797

$657 COP 2.1M

21.24%

20-Year Fixed Mortgage Interest Rate (Annual %)

6.5

10.94

-40.59%

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

Last update for Boquete: October 24, 2026

Last update for Medellin: October 25, 2026

Monthly budget structure

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

Accommodation & Living

Boquete

$687 47.8%

Medellin

$642 39.1% 6.6% $45

Groceries & Markets

Boquete

$294 20.4%

Medellin

$297 18.1% 1% $3.1

Eating Out

Boquete

$149 10.4%

Medellin

$170 10.4% 13.7% $20

Monthly Utilities & Internet

Boquete

$129 8.9%

Medellin

$211 12.9% 64.4% $83

Sport & Entertainment

Boquete

$95 6.6%

Medellin

$58 3.5% 39.7% $38

Clothing & Footwear

Boquete

$43 * 3%

Medellin

$169 10.3% 298% $126

Getting Around

Boquete

$42 2.9%

Medellin

$94 5.7% 124% $52

Categories marked with * are only partly priced – their share counts the items that do have prices.

Cost Breakdown

A one-bedroom apartment in the center runs $840 in Boquete and $1,208 in Medellin. Housing cost is often the main lever when comparing two cities.

Boquete pays 21% more on average while also being the cheaper of the two. The combined effect is a noticeably stronger local purchasing power.

Dining out: $40 in Boquete vs $47 in Medellin for a mid-range dinner for two. Groceries echo the gap at $294 vs $297 per month, with Boquete cheaper across the board.

Good to know

🇵🇦 Boquete

🇨🇴 Medellin

🕒 Local time

06:03 6:03 AM

Same time as Boquete

🌤 Weather

👥 Population

7,000

2,486,723

💱 Currency

Panamanian Balboa PAB B/.

Colombian Peso COP $

📈 Exchange rate

1 PAB = 1 USD

1 PAB = 0.896 EUR

10,000 COP = 3.1 USD

10,000 COP = 2.78 EUR

Exchange rates and currency converter

COP, USD, EUR to PAB – Panamanian Balboa Converter

🇺🇸 United States Dollar ($)

🇵🇦 Panamanian Balboa (B/.)

Panamanian Balboa exchange rates as of November 1, 2026: 1 USD = 1 PAB (1 PAB = 1 USD). 1 EUR = 1.12 PAB (1 PAB = 0.896 EUR).

Colombian Peso exchange rates as of November 1, 2026: 1 USD = 3,224 COP (10,000 COP = 3.1 USD). 1 EUR = 3,600 COP (10,000 COP = 2.78 EUR).

USD to PAB in detail →

On the map

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Highest

Between locations

Boquete Medellin 800 km ≈ 1 h 30 min nonstop flight

From you

Boquete
Medellin

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

Boquete vs Medellin: Cost of Living - Frequently Asked Questions

Boquete is about 12% cheaper overall, especially in clothing, transport, and eating out. That difference adds up to real monthly savings that compound significantly over time.

Average pay runs 21% higher in Boquete, which matters when comparing affordability. Whether that higher income actually nets you more depends on your spending habits and housing choices.

Rent for a central apartment: $840 in Boquete versus $1,208 in Medellin. Housing is usually the single largest factor when comparing overall living costs between the two.

A monthly transit pass in Boquete runs roughly 68% less than in Medellin. The price difference matters if you commute daily and watch your budget.

Dining out is cheaper in Boquete – a meal for two runs $40 versus $47 in Medellin. If you eat out regularly, this makes a real dent in your monthly spending.

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.