Last update: Oct 2026

Cost of Living Comparison Between Burnaby and Panama City

For one person, living is cheaper in Panama City: $1,855 a month against $2,738 in Burnaby, rent and utilities included – about $10,600 less a year. Rent and utilities account for most of the difference.

133

Cost of Living Index in Burnaby
Learn more

Burnaby Living Index
90

Cost of Living Index in Panama City
Learn more

Panama City Living Index

Jump to prices

Burnaby

🇨🇦 Canada

$2,738

/mo nomad

Panama City

🇵🇦 Panama

$1,855

/mo nomad

Monthly Cost of Living

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

Monthly costs for one person with rent: $2,738 in Burnaby versus $1,855 in Panama City.

Burnaby $2,738
Panama City $1,855

Estimated couple costs with rent: $3,928 in Burnaby versus $2,804 in Panama City.

Burnaby $3,928
Panama City $2,804

Monthly costs for a family of three with rent: $5,117 in Burnaby versus $3,753 in Panama City.

Burnaby $5,117
Panama City $3,753

Living in Burnaby is roughly 48% more expensive than in Panama City, and outside of rent the biggest gap is in eating out.

Both cities are pricier than the global median: Burnaby 103% above, Panama City 37% above.

Meal at Budget Restaurant

$21.18 CA$29.94

$11.63 PAB 11.63

82.12%

Three-Course Dinner for Two, Mid-Range

$83.7 CA$118

$47.92 PAB 47.92

74.75%

Fast Food Meal (McDonalds, etc)

$8.94 CA$12.64

$7.96 PAB 7.96

12.31%

Cappuccino

$4.66 CA$6.59

$4.22 PAB 4.22

10.43%

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

$2.30 CA$3.26

$2.01 PAB 2.01

14.43%

Water (0.33 liter bottle)

$1.68 CA$2.38

$1.56 PAB 1.56

7.69%

Local Beer (0.5 liter draught)

$8.45 CA$11.95

$3.39 PAB 3.39

149.26%

Imported Beer (0.33 liter bottle)

$5.81 CA$8.21

$3.94 PAB 3.94

47.46%

Milk (1 liter)

$2.30 CA$3.25

$1.85 PAB 1.85

24.32%

White Bread (500g)

$2.71 CA$3.83

$2.56 PAB 2.56

5.86%

Rice (white) (1kg)

$3.53 CA$4.99

$3.48 PAB 3.48

1.44%

Eggs

$3.08 CA$4.36

$2.69 PAB 2.69

14.50%

Local Cheese (1kg)

$13.50 CA$19.08

$12.57 PAB 12.57

7.40%

Chicken Fillets (1kg)

$13.49 CA$19.08

$6.83 PAB 6.83

97.51%

Beef Round Steak (1kg)

$25.16 CA$35.57

$10.58 PAB 10.58

137.81%

Apples (1kg)

$4.46 CA$6.30

$4.18 PAB 4.18

6.70%

Banana (1kg)

$1.30 CA$1.84

$1.83 PAB 1.83

-28.96%

Oranges (1kg)

$4.52 CA$6.38

$4.20 PAB 4.20

7.62%

Tomato (1kg)

$4.63 CA$6.54

$4.03 PAB 4.03

14.89%

Potato (1kg)

$2.81 CA$3.97

$3.48 PAB 3.48

-19.25%

Onion (1kg)

$3.47 CA$4.90

$4.22 PAB 4.22

-17.77%

Lettuce (1 head)

$2.68 CA$3.79

$2.41 PAB 2.41

11.20%

Water (1.5 liter bottle)

$2.11 CA$2.99

$1.69 PAB 1.69

24.85%

Cigarettes 20 Pack (Marlboro, Camel)

$13.99 CA$19.78

$6.14 PAB 6.14

127.85%

Wine (Bottle)

$13.46 CA$19.03

$11.30 PAB 11.30

19.12%

Local Beer (0.5 liter bottle)

$2.08 CA$2.94

$1.42 PAB 1.42

46.48%

Imported Beer (0.33 liter bottle)

$2.28 CA$3.22

$2.73 PAB 2.73

-16.48%

One-way Ticket (Public Transport)

$2.32 CA$3.28

$0.33 PAB 0.33

603.03%

Public Transport Monthly Pass (Regular Price)

$79.5 CA$112

$21.23 PAB 21.23

274.52%

Taxi Start (Normal Tariff)

$2.87 CA$4.05

$2.52 PAB 2.52

13.89%

Taxi (Normal Tariff) (1km)

$1.50 CA$2.13

$1.86 PAB 1.86

-19.35%

Taxi 1hour Waiting (Normal Tariff)

$26.37 CA$37.27

$21.78 PAB 21.78

21.07%

Gasoline (1 liter)

$1.30 CA$1.84

$1.25 PAB 1.25

4.00%

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

$27.6K CA$39.0K

$21.2K PAB 21.2K

29.90%

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

$18.7K CA$26.4K

$21.0K PAB 21.0K

-11.23%

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

$120 CA$170

$130 PAB 130

-7.29%

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

$43.55 CA$61.6

$28.13 PAB 28.13

54.82%

Internet (50+ Mbps, Unlimited Data)

$53.1 CA$75.1

$48.21 PAB 48.21

10.10%

Gym Membership (Monthly)

$29.72 CA$42.01

$45.78 PAB 45.78

-35.08%

Tennis Court (1 Hour on Weekend)

$10.33 CA$14.61

$34.92 PAB 34.92

-70.42%

Cinema Ticket

$13.91 CA$19.67

$8.67 PAB 8.67

60.44%

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

$634 CA$897

$544 PAB 544

16.53%

International Primary School, 1 Child (Yearly)

$9,697 PAB 9,697

Jeans (Levis 501 Or Similar)

$51.7 CA$73.1

$66.8 PAB 66.8

-22.58%

Summer Dress (H&M, Zara, etc)

$51.6 CA$73.0

$49.14 PAB 49.14

5.03%

Sport Shoes (Adidas, Nike)

$102 CA$144

$93.9 PAB 93.9

8.43%

Men's Leather Business Shoes

$77.4 CA$109

$112 PAB 112

-30.59%

1-bedroom Apartment, City Center (Monthly)

$1,628 CA$2,302

$1,257 PAB 1,257

29.54%

1-bedroom Apartment, Outside City Center (Monthly)

$1,491 CA$2,108

$875 PAB 875

70.40%

3-bedroom Apartment, City Center (Monthly)

$2,454 CA$3,469

$2,155 PAB 2,155

13.86%

3-bedroom Apartment, Outside City Center (Monthly)

$2,187 CA$3,092

$1,564 PAB 1,564

39.84%

Buy Apartment in City Center (m2)

$6,588 CA$9,313

$3,122 PAB 3,122

111.00%

Buy Apartment Outside City Center (m2)

$5,530 CA$7,817

$1,709 PAB 1,709

223.50%

Average Monthly Net Salary (After Tax)

$3,144 CA$4,445

$916 PAB 916

243.28%

20-Year Fixed Mortgage Interest Rate (Annual %)

4.76

6.39

-25.51%

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

Last update for Burnaby: October 11, 2026

Last update for Panama City: October 10, 2026

Monthly budget structure

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

Accommodation & Living

Burnaby

$1.5K 54.4%

Panama City

$875 47.2% 41.3% $616

Groceries & Markets

Burnaby

$425 15.5%

Panama City

$325 17.5% 23.4% $99

Eating Out

Burnaby

$322 11.8%

Panama City

$207 11.1% 35.8% $115

Monthly Utilities & Internet

Burnaby

$217 7.9%

Panama City

$206 11.1% 5% $11

Clothing & Footwear

Burnaby

$127 4.6%

Panama City

$145 7.8% 13.7% $17

Getting Around

Burnaby

$99 3.6%

Panama City

$34 1.9% 65.3% $65

Sport & Entertainment

Burnaby

$58 2.1%

Panama City

$63 3.4% 9.7% $5.6

Cost Breakdown

A one-bedroom apartment in the center runs $1,628 in Burnaby and $1,257 in Panama City. Housing cost is often the main lever when comparing two cities.

Burnaby pays 243% 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: $84.0 in Burnaby vs $48.00 in Panama City for a mid-range dinner for two. Groceries echo the gap at $425 vs $325 per month, with Panama City cheaper across the board.

Good to know

🇨🇦 Burnaby

🇵🇦 Panama City

🕒 Local time

14:11 2:11 PM

16:11 4:11 PM

2 h ahead of Burnaby

🌤 Weather

👥 Population

249,125

1,086,990 Capital

💱 Currency

Canadian Dollar CAD $

Panamanian Balboa PAB B/.

📈 Exchange rate

1 CAD = 0.707 USD

1 CAD = 0.629 EUR

1 PAB = 1 USD

1 PAB = 0.89 EUR

Exchange rates and currency converter

PAB, USD, EUR to CAD – Canadian Dollar Converter

🇺🇸 United States Dollar ($)

🇨🇦 Canadian Dollar ($)

Canadian Dollar exchange rates as of October 18, 2026: 1 USD = 1.41 CAD (1 CAD = 0.707 USD). 1 EUR = 1.59 CAD (1 CAD = 0.629 EUR).

Panamanian Balboa exchange rates as of October 18, 2026: 1 USD = 1 PAB (1 PAB = 1 USD). 1 EUR = 1.12 PAB (1 PAB = 0.89 EUR).

USD to CAD in detail →

On the map

Lowest

Highest

Between locations

Burnaby Panama City 6,020 km ≈ 8 h nonstop flight

From you

Burnaby
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

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

Burnaby and Panama City differ by about 48% in total monthly costs ($2,738 vs $1,855 including rent). Panama City is meaningfully more affordable – a gap that matters a lot on a fixed or modest income.

Average pay runs 243% higher in Burnaby, 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: $1,628 in Burnaby versus $1,257 in Panama City. Housing is usually the single largest factor when comparing overall living costs between the two.

Childcare runs $634 in Burnaby versus $544 in Panama City. Over years of preschool, even a modest monthly gap compounds into a major financial factor for families.

Supermarket bills run roughly 31% higher in Burnaby. For households that cook at home regularly, that difference adds up over a month.

At $1,855 in Panama City versus $2,738 in Burnaby, a $2,500 budget is realistic in Panama City but tight or insufficient in Burnaby. The gap between the two cities makes Panama City 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 Panama City gentler on the wallet – expenses run 48% less than in Burnaby. Beyond cost, consider language, visa policies, and how big the international community is in each city.