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 $2,214 per month in Canada vs $800 in Panama, rent included.

A couple spends around $3,247 per month in Canada vs $1,193 in Panama, rent included.

A family of three spends $4,279 per month in Canada vs $1,586 in Panama, rent included.

The cost of living in Canada is about 177% higher than in Panama on average – the gap runs across housing, groceries, transport, and services.

Canada sits 61% above the global median, while Panama is 42% below – they fall on opposite sides of the world average.

Meal at Budget Restaurant

$17.99 CA$24.90

$8.03 PAB 8.03

124.03%

Three-Course Dinner for Two, Mid-Range

$71.3 CA$98.7

$45.89 PAB 45.89

55.33%

Fast Food Meal (McDonalds, etc)

$10.91 CA$15.10

$8.20 PAB 8.20

33.05%

Cappuccino

$3.88 CA$5.37

$3.93 PAB 3.93

-1.27%

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

$2.17 CA$3.01

$1.56 PAB 1.56

39.10%

Water (0.33 liter bottle)

$1.67 CA$2.32

$1.31 PAB 1.31

27.48%

Local Beer (0.5 liter draught)

$5.80 CA$8.03

$2.44 PAB 2.44

137.70%

Imported Beer (0.33 liter bottle)

$5.81 CA$8.05

$3.90 PAB 3.90

48.97%

Milk (1 liter)

$2.19 CA$3.04

$1.81 PAB 1.81

20.99%

White Bread (500g)

$2.75 CA$3.81

$2.36 PAB 2.36

16.53%

Rice (white) (1kg)

$3.69 CA$5.11

$2.86 PAB 2.86

29.02%

Eggs

$3.68 CA$5.09

$2.56 PAB 2.56

43.75%

Local Cheese (1kg)

$10.83 CA$15.00

$12.41 PAB 12.41

-12.73%

Chicken Fillets (1kg)

$12.20 CA$16.89

$6.96 PAB 6.96

75.29%

Beef Round Steak (1kg)

$15.58 CA$21.58

$9.87 PAB 9.87

57.85%

Apples (1kg)

$4.18 CA$5.79

$4.24 PAB 4.24

-1.42%

Banana (1kg)

$1.42 CA$1.96

$1.49 PAB 1.49

-4.70%

Oranges (1kg)

$4.02 CA$5.57

$3.34 PAB 3.34

20.36%

Tomato (1kg)

$4.17 CA$5.78

$3.68 PAB 3.68

13.32%

Potato (1kg)

$2.73 CA$3.78

$2.46 PAB 2.46

10.98%

Onion (1kg)

$2.54 CA$3.52

$3.24 PAB 3.24

-21.60%

Lettuce (1 head)

$2.57 CA$3.55

$2.24 PAB 2.24

14.73%

Water (1.5 liter bottle)

$1.72 CA$2.38

$1.59 PAB 1.59

8.18%

Cigarettes 20 Pack (Marlboro, Camel)

$14.43 CA$19.98

$5.84 PAB 5.84

147.09%

Wine (Bottle)

$13.62 CA$18.86

$10.08 PAB 10.08

35.12%

Local Beer (0.5 liter bottle)

$2.90 CA$4.01

$1.39 PAB 1.39

108.63%

Imported Beer (0.33 liter bottle)

$3.26 CA$4.52

$2.35 PAB 2.35

38.72%

One-way Ticket (Public Transport)

$2.48 CA$3.43

$0.52 PAB 0.52

376.92%

Public Transport Monthly Pass (Regular Price)

$74.9 CA$104

$21.16 PAB 21.16

253.83%

Taxi Start (Normal Tariff)

$3.11 CA$4.31

$2.47 PAB 2.47

25.91%

Taxi (Normal Tariff) (1km)

$1.48 CA$2.05

$1.86 PAB 1.86

-20.43%

Taxi 1hour Waiting (Normal Tariff)

$27.37 CA$37.90

$22.19 PAB 22.19

23.34%

Gasoline (1 liter)

$1.17 CA$1.63

$1.13 PAB 1.13

3.54%

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

$28.1K CA$38.9K

$21.5K PAB 21.5K

30.58%

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

$20.0K CA$27.7K

$22.8K PAB 22.8K

-12.27%

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

$154 CA$214

$115 PAB 115

33.66%

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

$43.31 CA$60.0

$26.80 PAB 26.80

61.60%

Internet (50+ Mbps, Unlimited Data)

$60.3 CA$83.5

$47.78 PAB 47.78

26.27%

Gym Membership (Monthly)

$41.22 CA$57.1

$49.45 PAB 49.45

-16.64%

Tennis Court (1 Hour on Weekend)

$20.08 CA$27.80

$29.33 PAB 29.33

-31.54%

Cinema Ticket

$11.64 CA$16.12

$7.86 PAB 7.86

48.09%

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

$782 CA$1,083

$546 PAB 546

43.21%

International Primary School, 1 Child (Yearly)

$14.8K CA$20.5K

$7,950 PAB 7,950

86.43%

Jeans (Levis 501 Or Similar)

$54.9 CA$76.1

$51.3 PAB 51.3

7.10%

Summer Dress (H&M, Zara, etc)

$39.73 CA$55.0

$38.17 PAB 38.17

4.09%

Sport Shoes (Adidas, Nike)

$90.3 CA$125

$89.7 PAB 89.7

0.67%

Men's Leather Business Shoes

$107 CA$148

$118 PAB 118

-9.29%

1-bedroom Apartment, City Center (Monthly)

$1,317 CA$1,824

$937 PAB 937

40.55%

1-bedroom Apartment, Outside City Center (Monthly)

$1,136 CA$1,572

$728 PAB 728

55.97%

3-bedroom Apartment, City Center (Monthly)

$2,089 CA$2,892

$1,675 PAB 1,675

24.68%

3-bedroom Apartment, Outside City Center (Monthly)

$1,809 CA$2,505

$1,212 PAB 1,212

49.27%

Buy Apartment in City Center (m2)

$4,846 CA$6,710

$2,983 PAB 2,983

62.46%

Buy Apartment Outside City Center (m2)

$3,928 CA$5,439

$1,684 PAB 1,684

133.19%

Average Monthly Net Salary (After Tax)

$2,998 CA$4,151

$842 PAB 842

256.18%

20-Year Fixed Mortgage Interest Rate (Annual %)

4.86

6.35

-23.46%

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

Last update for Canada: August 31, 2026

Last update for Panama: August 31, 2026

Cost Breakdown

Average rent: $1,225 in Canada vs $340 in Panama. For reference, capital cities sit at $1,501 in Ottawa and $1,276 in Panama City.

Average salary: $2,968 in Canada vs $719 in Panama. The income gap affects purchasing power and how far your budget stretches in each country.

Cost Highlights

Rent is 260% higher in Canada.

Dining out costs 136% more in Canada.

Public transport is 1867% more expensive in Canada.

Salaries are 313% 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 148% 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 148% 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.