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 $2,316 per month in Canada vs $839 in Panama, rent included.

A couple spends around $3,376 per month in Canada vs $1,204 in Panama, rent included.

A family of three spends $4,436 per month in Canada vs $1,568 in Panama, rent included.

Canada costs about 176% more than Panama on average – the gap runs across housing, groceries, transport, and services.

Canada sits 73% above the global median, while Panama is 37% below – they fall on opposite sides of the world average.

Meal at Budget Restaurant

$18.44 CA$25.53

$9.83 PAB 9.83

87.59%

Three-Course Dinner for Two, Mid-Range

$74.5 CA$103

$49.27 PAB 49.27

51.17%

Fast Food Meal (McDonalds, etc)

$10.88 CA$15.07

$7.71 PAB 7.71

41.12%

Cappuccino

$3.90 CA$5.39

$3.58 PAB 3.58

8.94%

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

$2.16 CA$2.99

$1.47 PAB 1.47

46.94%

Water (0.33 liter bottle)

$1.73 CA$2.40

$1.28 PAB 1.28

35.16%

Local Beer (0.5 liter draught)

$5.74 CA$7.94

$2.19 PAB 2.19

162.10%

Imported Beer (0.33 liter bottle)

$6.05 CA$8.37

$3.69 PAB 3.69

63.96%

Milk (1 liter)

$2.20 CA$3.05

$1.79 PAB 1.79

22.91%

White Bread (500g)

$2.75 CA$3.81

$2.48 PAB 2.48

10.89%

Rice (white) (1kg)

$3.66 CA$5.07

$2.31 PAB 2.31

58.44%

Eggs

$3.63 CA$5.03

$2.63 PAB 2.63

38.02%

Local Cheese (1kg)

$11.72 CA$16.22

$11.15 PAB 11.15

5.11%

Chicken Fillets (1kg)

$12.28 CA$17.01

$7.03 PAB 7.03

74.68%

Beef Round Steak (1kg)

$14.88 CA$20.60

$9.03 PAB 9.03

64.78%

Apples (1kg)

$4.14 CA$5.73

$3.91 PAB 3.91

5.88%

Banana (1kg)

$1.45 CA$2.01

$1.33 PAB 1.33

9.02%

Oranges (1kg)

$3.79 CA$5.25

$2.88 PAB 2.88

31.60%

Tomato (1kg)

$4.09 CA$5.66

$3.05 PAB 3.05

34.10%

Potato (1kg)

$2.73 CA$3.78

$2.17 PAB 2.17

25.81%

Onion (1kg)

$2.77 CA$3.83

$2.37 PAB 2.37

16.88%

Lettuce (1 head)

$2.62 CA$3.62

$2.07 PAB 2.07

26.57%

Water (1.5 liter bottle)

$1.87 CA$2.59

$1.64 PAB 1.64

14.02%

Cigarettes 20 Pack (Marlboro, Camel)

$14.79 CA$20.48

$6.08 PAB 6.08

143.26%

Wine (Bottle)

$13.08 CA$18.11

$10.16 PAB 10.16

28.74%

Local Beer (0.5 liter bottle)

$3.03 CA$4.19

$1.25 PAB 1.25

142.40%

Imported Beer (0.33 liter bottle)

$3.41 CA$4.72

$2.22 PAB 2.22

53.60%

One-way Ticket (Public Transport)

$2.52 CA$3.49

$0.52 PAB 0.52

384.62%

Public Transport Monthly Pass (Regular Price)

$77.9 CA$108

$25.30 PAB 25.30

207.75%

Taxi Start (Normal Tariff)

$3.49 CA$4.83

$2.02 PAB 2.02

72.77%

Taxi (Normal Tariff) (1km)

$1.48 CA$2.04

$1.97 PAB 1.97

-24.87%

Taxi 1hour Waiting (Normal Tariff)

$28.25 CA$39.12

$20.62 PAB 20.62

37.00%

Gasoline (1 liter)

$1.15 CA$1.59

$0.88 PAB 0.88

30.68%

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

$25.4K CA$35.2K

$22.1K PAB 22.1K

15.13%

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

$20.6K CA$28.6K

$20.7K PAB 20.7K

-0.17%

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

$155 CA$214

$108 PAB 108

42.96%

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

$45.76 CA$63.4

$29.06 PAB 29.06

57.47%

Internet (50+ Mbps, Unlimited Data)

$62.2 CA$86.1

$48.71 PAB 48.71

27.61%

Gym Membership (Monthly)

$43.67 CA$60.5

$49.82 PAB 49.82

-12.34%

Tennis Court (1 Hour on Weekend)

$18.14 CA$25.11

$33.48 PAB 33.48

-45.82%

Cinema Ticket

$11.38 CA$15.76

$6.79 PAB 6.79

67.60%

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

$798 CA$1,104

$451 PAB 451

76.90%

International Primary School, 1 Child (Yearly)

$12.1K CA$16.8K

$11.4K PAB 11.4K

6.03%

Jeans (Levis 501 Or Similar)

$56.8 CA$78.7

$46.60 PAB 46.60

21.91%

Summer Dress (H&M, Zara, etc)

$42.19 CA$58.4

$41.52 PAB 41.52

1.61%

Sport Shoes (Adidas, Nike)

$87.9 CA$122

$83.5 PAB 83.5

5.33%

Men's Leather Business Shoes

$106 CA$147

$117 PAB 117

-8.73%

1-bedroom Apartment, City Center (Monthly)

$1,359 CA$1,882

$933 PAB 933

45.61%

1-bedroom Apartment, Outside City Center (Monthly)

$1,204 CA$1,667

$728 PAB 728

65.24%

3-bedroom Apartment, City Center (Monthly)

$2,136 CA$2,957

$1,732 PAB 1,732

23.28%

3-bedroom Apartment, Outside City Center (Monthly)

$1,860 CA$2,575

$1,363 PAB 1,363

36.44%

Buy Apartment in City Center (m2)

$4,642 CA$6,427

$2,991 PAB 2,991

55.20%

Buy Apartment Outside City Center (m2)

$3,852 CA$5,333

$1,673 PAB 1,673

130.30%

Average Monthly Net Salary (After Tax)

$3,029 CA$4,194

$820 PAB 820

269.33%

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: May 31, 2026

Last update for Panama: June 2, 2026

Cost Breakdown

Average rent: $1,281 in Canada vs $368 in Panama. For reference, capital cities sit at $1,500 in Ottawa and $1,157 in Panama City.

Average salary: $2,972 in Canada vs $720 in Panama. The income gap affects purchasing power and how far your budget stretches in each country.

Cost Highlights

Rent is 248% higher in Canada.

Dining out costs 152% more in Canada.

Public transport is 1200% more expensive in Canada.

Salaries are 313% higher in Canada, giving Canada stronger purchasing power.

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 150% 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 150% 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.