Cost of Living Comparison Between Canada and Panama Cost of Living Comparison Between Canada and Panama

Name: Panama
Address: PA

Monthly Cost of Living

A single person spends $2,319 per month in Canada vs $839 in Panama, rent included.

A couple spends around $3,378 per month in Canada vs $1,204 in Panama, rent included.

A family of three spends $4,437 per month in Canada vs $1,568 in Panama, rent included.

The cost of living in Canada is about 176% higher than in Panama on average – the gap runs across housing, groceries, transport, and services.

Canada sits 74% above the global median, while Panama is 37% below – they fall on opposite sides of the world average.

Meal at Budget Restaurant

$18.63 CA$26.11

$10.05 PAB 10.05

85.37%

Three-Course Dinner for Two, Mid-Range

$74.0 CA$104

$49.64 PAB 49.64

49.07%

Fast Food Meal (McDonalds, etc)

$10.92 CA$15.31

$7.37 PAB 7.37

48.17%

Cappuccino

$3.76 CA$5.28

$3.53 PAB 3.53

6.52%

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

$2.19 CA$3.07

$1.47 PAB 1.47

48.98%

Water (0.33 liter bottle)

$1.74 CA$2.43

$1.24 PAB 1.24

40.32%

Local Beer (0.5 liter draught)

$5.93 CA$8.31

$2.30 PAB 2.30

157.83%

Imported Beer (0.33 liter bottle)

$5.95 CA$8.35

$3.69 PAB 3.69

61.25%

Milk (1 liter)

$2.28 CA$3.20

$1.84 PAB 1.84

23.91%

White Bread (500g)

$2.67 CA$3.74

$2.44 PAB 2.44

9.43%

Rice (white) (1kg)

$3.78 CA$5.30

$2.36 PAB 2.36

60.17%

Eggs

$3.50 CA$4.90

$2.69 PAB 2.69

30.11%

Local Cheese (1kg)

$11.70 CA$16.40

$11.25 PAB 11.25

4.00%

Chicken Fillets (1kg)

$12.30 CA$17.24

$7.32 PAB 7.32

68.03%

Beef Round Steak (1kg)

$15.44 CA$21.65

$9.24 PAB 9.24

67.10%

Apples (1kg)

$4.28 CA$6.00

$4.03 PAB 4.03

6.20%

Banana (1kg)

$1.45 CA$2.04

$1.33 PAB 1.33

9.02%

Oranges (1kg)

$4.01 CA$5.62

$2.89 PAB 2.89

38.75%

Tomato (1kg)

$4.27 CA$5.98

$2.99 PAB 2.99

42.81%

Potato (1kg)

$2.69 CA$3.77

$2.18 PAB 2.18

23.39%

Onion (1kg)

$2.65 CA$3.71

$2.46 PAB 2.46

7.72%

Lettuce (1 head)

$2.64 CA$3.70

$2.12 PAB 2.12

24.53%

Water (1.5 liter bottle)

$1.89 CA$2.65

$1.63 PAB 1.63

15.95%

Cigarettes 20 Pack (Marlboro, Camel)

$14.77 CA$20.71

$5.77 PAB 5.77

155.98%

Wine (Bottle)

$13.32 CA$18.67

$9.98 PAB 9.98

33.47%

Local Beer (0.5 liter bottle)

$2.96 CA$4.15

$1.21 PAB 1.21

144.63%

Imported Beer (0.33 liter bottle)

$3.28 CA$4.59

$2.17 PAB 2.17

51.15%

One-way Ticket (Public Transport)

$2.62 CA$3.67

$0.52 PAB 0.52

403.85%

Public Transport Monthly Pass (Regular Price)

$78.1 CA$110

$25.39 PAB 25.39

207.60%

Taxi Start (Normal Tariff)

$3.42 CA$4.79

$2.01 PAB 2.01

70.15%

Taxi (Normal Tariff) (1km)

$1.50 CA$2.10

$2.06 PAB 2.06

-27.18%

Taxi 1hour Waiting (Normal Tariff)

$29.07 CA$40.76

$20.72 PAB 20.72

40.30%

Gasoline (1 liter)

$1.20 CA$1.68

$0.91 PAB 0.91

31.87%

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

$25.5K CA$35.7K

$22.1K PAB 22.1K

15.34%

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

$20.6K CA$28.8K

$21.4K PAB 21.4K

-3.82%

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

$152 CA$212

$106 PAB 106

42.86%

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

$46.70 CA$65.5

$28.57 PAB 28.57

63.46%

Internet (50+ Mbps, Unlimited Data)

$61.8 CA$86.7

$48.55 PAB 48.55

27.37%

Gym Membership (Monthly)

$43.36 CA$60.8

$50.5 PAB 50.5

-14.12%

Tennis Court (1 Hour on Weekend)

$18.05 CA$25.31

$33.26 PAB 33.26

-45.73%

Cinema Ticket

$11.51 CA$16.13

$6.96 PAB 6.96

65.37%

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

$806 CA$1,130

$445 PAB 445

81.12%

International Primary School, 1 Child (Yearly)

$12.1K CA$17.0K

$11.3K PAB 11.3K

7.57%

Jeans (Levis 501 Or Similar)

$55.4 CA$77.6

$47.40 PAB 47.40

16.84%

Summer Dress (H&M, Zara, etc)

$41.80 CA$58.6

$40.37 PAB 40.37

3.54%

Sport Shoes (Adidas, Nike)

$89.7 CA$126

$83.5 PAB 83.5

7.53%

Men's Leather Business Shoes

$106 CA$149

$116 PAB 116

-9.02%

1-bedroom Apartment, City Center (Monthly)

$1,329 CA$1,864

$933 PAB 933

42.41%

1-bedroom Apartment, Outside City Center (Monthly)

$1,207 CA$1,692

$722 PAB 722

67.17%

3-bedroom Apartment, City Center (Monthly)

$2,112 CA$2,961

$1,721 PAB 1,721

22.75%

3-bedroom Apartment, Outside City Center (Monthly)

$1,833 CA$2,570

$1,333 PAB 1,333

37.48%

Buy Apartment in City Center (m2)

$4,639 CA$6,503

$2,974 PAB 2,974

55.96%

Buy Apartment Outside City Center (m2)

$3,849 CA$5,396

$1,701 PAB 1,701

126.24%

Average Monthly Net Salary (After Tax)

$2,948 CA$4,133

$813 PAB 813

262.82%

20-Year Fixed Mortgage Interest Rate (Annual %)

6.33

6.3

0.48%

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

Last update for Canada: July 14, 2026

Last update for Panama: July 12, 2026

Cost Breakdown

Average rent: $1,281 in Canada vs $371 in Panama. For reference, capital cities sit at $1,481 in Ottawa and $1,158 in Panama City.

Average salary: $2,904 in Canada vs $713 in Panama. The income gap affects purchasing power and how far your budget stretches in each country.

Cost Highlights

Rent is 245% higher in Canada.

Dining out costs 152% more in Canada.

Public transport is 1200% more expensive in Canada.

Salaries are 307% higher in Canada, and purchasing power comes out stronger in Canada.

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

Canada vs Panama: Cost of Living - Frequently Asked Questions

Panama is the cheaper option – living costs run roughly 147% lower on average. The gap is consistent across housing, groceries, transport, and entertainment.

Housing costs more in Canada, and the gap is biggest in capital cities. Regional towns show less difference, but Canada consistently has higher rents.

Groceries, transport, and utilities all cost less in Panama, contributing to the overall 147% price gap. The savings show up everywhere – from supermarket receipts to monthly bills.

$2,000 buys a comfortable lifestyle in Panama, but in Canada it only works with careful planning outside the capital. Same money, very different lives.

Panama is the budget-friendly choice for expats – lower housing and daily costs. But cost isn't everything: visa policies, language, healthcare quality, and job markets all weigh in too.