Last update: Oct 2026

Cost of Living Comparison Between Iquique and Panama City

For one person, living is cheaper in Iquique: $999 a month against $1,855 in Panama City, rent and utilities included – about $10,300 less a year. Rent and utilities account for most of the difference.

49

Cost of Living Index in Iquique
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Iquique Living Index
90

Cost of Living Index in Panama City
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Panama City Living Index

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Iquique

🇨🇱 Chile

$999

/mo nomad

Panama City

🇵🇦 Panama

$1,855

/mo nomad

Monthly Cost of Living

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

Monthly costs for one person with rent: $999 in Iquique versus $1,855 in Panama City.

Iquique $999
Panama City $1,855

Estimated couple costs with rent: $1,590 in Iquique versus $2,804 in Panama City.

Iquique $1,590
Panama City $2,804

Monthly costs for a family of three with rent: $2,180 in Iquique versus $3,753 in Panama City.

Iquique $2,180
Panama City $3,753

Living in Iquique costs roughly 46% less than in Panama City, and outside of rent the biggest gap is in groceries.

The two cities straddle the global median: Iquique is 26% below, Panama City is 37% above.

Meal at Budget Restaurant

$7.48 CLP 7,359

$11.63 PAB 11.63

-35.68%

Three-Course Dinner for Two, Mid-Range

$40.30 CLP 39.7K

$47.92 PAB 47.92

-15.90%

Fast Food Meal (McDonalds, etc)

$7.04 CLP 6,934

$7.96 PAB 7.96

-11.56%

Cappuccino

$3.44 CLP 3,384

$4.22 PAB 4.22

-18.48%

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

$1.23 CLP 1,210

$2.01 PAB 2.01

-38.81%

Water (0.33 liter bottle)

$0.95 CLP 937

$1.56 PAB 1.56

-39.10%

Local Beer (0.5 liter draught)

$3.27 CLP 3,222

$3.39 PAB 3.39

-3.54%

Imported Beer (0.33 liter bottle)

$3.61 CLP 3,552

$3.94 PAB 3.94

-8.38%

Milk (1 liter)

$1.09 CLP 1,077

$1.85 PAB 1.85

-41.08%

White Bread (500g)

$1.13 CLP 1,111

$2.56 PAB 2.56

-55.86%

Rice (white) (1kg)

$1.31 CLP 1,285

$3.48 PAB 3.48

-62.36%

Eggs

$3.02 CLP 2,972

$2.69 PAB 2.69

12.27%

Local Cheese (1kg)

$10.12 CLP 9,962

$12.57 PAB 12.57

-19.49%

Chicken Fillets (1kg)

$10.05 CLP 9,896

$6.83 PAB 6.83

47.14%

Beef Round Steak (1kg)

$10.58 PAB 10.58

Apples (1kg)

$2.31 CLP 2,273

$4.18 PAB 4.18

-44.74%

Banana (1kg)

$2.15 CLP 2,121

$1.83 PAB 1.83

17.49%

Oranges (1kg)

$1.51 CLP 1,484

$4.20 PAB 4.20

-64.05%

Tomato (1kg)

$1.06 CLP 1,040

$4.03 PAB 4.03

-73.70%

Potato (1kg)

$0.73 CLP 722

$3.48 PAB 3.48

-79.02%

Onion (1kg)

$0.64 CLP 628

$4.22 PAB 4.22

-84.83%

Lettuce (1 head)

$1.00 CLP 981

$2.41 PAB 2.41

-58.51%

Water (1.5 liter bottle)

$1.35 CLP 1,326

$1.69 PAB 1.69

-20.12%

Cigarettes 20 Pack (Marlboro, Camel)

$7.25 CLP 7,139

$6.14 PAB 6.14

18.08%

Wine (Bottle)

$7.86 CLP 7,734

$11.30 PAB 11.30

-30.44%

Local Beer (0.5 liter bottle)

$1.42 PAB 1.42

Imported Beer (0.33 liter bottle)

$0.84 CLP 828

$2.73 PAB 2.73

-69.23%

One-way Ticket (Public Transport)

$0.69 CLP 679

$0.33 PAB 0.33

109.09%

Public Transport Monthly Pass (Regular Price)

$21.23 PAB 21.23

Taxi Start (Normal Tariff)

$2.52 PAB 2.52

Taxi (Normal Tariff) (1km)

$1.86 PAB 1.86

Taxi 1hour Waiting (Normal Tariff)

$21.78 PAB 21.78

Gasoline (1 liter)

$1.44 CLP 1,419

$1.25 PAB 1.25

15.20%

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

$21.2K PAB 21.2K

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

$21.0K PAB 21.0K

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

$88.6 CLP 87.2K

$130 PAB 130

-31.74%

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

$15.63 CLP 15.4K

$28.13 PAB 28.13

-44.44%

Internet (50+ Mbps, Unlimited Data)

$23.17 CLP 22.8K

$48.21 PAB 48.21

-51.94%

Gym Membership (Monthly)

$50.7 CLP 49.9K

$45.78 PAB 45.78

10.75%

Tennis Court (1 Hour on Weekend)

$34.92 PAB 34.92

Cinema Ticket

$6.91 CLP 6,803

$8.67 PAB 8.67

-20.30%

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

$254 CLP 249.8K

$544 PAB 544

-53.37%

International Primary School, 1 Child (Yearly)

$9,697 PAB 9,697

Jeans (Levis 501 Or Similar)

$30.11 CLP 29.6K

$66.8 PAB 66.8

-54.89%

Summer Dress (H&M, Zara, etc)

$23.04 CLP 22.7K

$49.14 PAB 49.14

-53.11%

Sport Shoes (Adidas, Nike)

$46.57 CLP 45.8K

$93.9 PAB 93.9

-50.38%

Men's Leather Business Shoes

$58.3 CLP 57.4K

$112 PAB 112

-47.73%

1-bedroom Apartment, City Center (Monthly)

$422 CLP 415.4K

$1,257 PAB 1,257

-66.43%

1-bedroom Apartment, Outside City Center (Monthly)

$382 CLP 375.7K

$875 PAB 875

-56.37%

3-bedroom Apartment, City Center (Monthly)

$683 CLP 671.9K

$2,155 PAB 2,155

-68.33%

3-bedroom Apartment, Outside City Center (Monthly)

$781 CLP 769.3K

$1,564 PAB 1,564

-50.03%

Buy Apartment in City Center (m2)

$1,718 CLP 1.7M

$3,122 PAB 3,122

-44.98%

Buy Apartment Outside City Center (m2)

$1,926 CLP 1.9M

$1,709 PAB 1,709

12.66%

Average Monthly Net Salary (After Tax)

$958 CLP 943.5K

$916 PAB 916

4.64%

20-Year Fixed Mortgage Interest Rate (Annual %)

7.5

6.39

17.37%

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

Last update for Iquique: October 10, 2026

Last update for Panama City: October 10, 2026

Monthly budget structure

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

Accommodation & Living

Iquique

$382 38.2%

Panama City

$875 47.2% 129% $493

Groceries & Markets

Iquique

$197 * 19.7%

Panama City

$325 17.5% 65.1% $128

Eating Out

Iquique

$155 15.5%

Panama City

$207 11.1% 33.8% $52

Monthly Utilities & Internet

Iquique

$127 12.8%

Panama City

$206 11.1% 61.8% $79

Clothing & Footwear

Iquique

$71 7.1%

Panama City

$145 7.8% 103% $73

Sport & Entertainment

Iquique

$65 6.5%

Panama City

$63 3.4% 2.2% $1.4

Getting Around

Iquique

$2.8 * 0.3%

Panama City

$34 1.9% 1146% $32

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 $422 in Iquique and $1,257 in Panama City. Housing cost is often the main lever when comparing two cities.

Iquique pays 5% more on average while also being the cheaper of the two. The combined effect is a noticeably stronger local purchasing power.

Dining out: $40.00 in Iquique vs $48.00 in Panama City for a mid-range dinner for two. Groceries echo the gap at $197 vs $325 per month, with Iquique cheaper across the board.

Good to know

🇨🇱 Iquique

🇵🇦 Panama City

🕒 Local time

14:38 2:38 PM

12:38 12:38 PM

2 h behind Iquique

🌤 Weather

👥 Population

188,003

1,086,990 Capital

💱 Currency

Chilean Peso CLP $

Panamanian Balboa PAB B/.

📈 Exchange rate

10,000 CLP = 10.16 USD

10,000 CLP = 9.04 EUR

1 PAB = 1 USD

1 PAB = 0.889 EUR

Exchange rates and currency converter

PAB, USD, EUR to CLP – Chilean Peso Converter

🇺🇸 United States Dollar ($)

🇨🇱 Chilean Peso ($)

Chilean Peso exchange rates as of October 17, 2026: 1 USD = 984 CLP (1,000 CLP = 1.02 USD). 1 EUR = 1,107 CLP (10,000 CLP = 9.04 EUR).

Panamanian Balboa exchange rates as of October 17, 2026: 1 USD = 1 PAB (1 PAB = 1 USD). 1 EUR = 1.12 PAB (1 PAB = 0.889 EUR).

USD to CLP in detail →

On the map

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Highest

Between locations

Iquique Panama City 3,400 km ≈ 4 h 45 min nonstop flight

From you

Iquique
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

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

Iquique and Panama City differ by about 86% in total monthly costs ($999 vs $1,855 including rent). Iquique is meaningfully more affordable – a gap that matters a lot on a fixed or modest income.

Average pay runs 5% higher in Iquique, 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: $422 in Iquique versus $1,257 in Panama City. Housing is usually the single largest factor when comparing overall living costs between the two.

Supermarket bills run roughly 65% higher in Panama City. For households that cook at home regularly, that difference adds up over a month.

All in, you'll spend $999 per month in Iquique versus $1,855 in Panama City – a 86% gap that adds up to real savings over time for anyone picking the cheaper option.

At $999 in Iquique versus $1,855 in Panama City, a $2,000 budget is realistic in Iquique but tight or insufficient in Panama City. The gap between the two cities makes Iquique 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 Iquique gentler on the wallet – expenses run 86% less than in Panama City. Beyond cost, consider language, visa policies, and how big the international community is in each city.