Last update: Oct 2026

Cost of Living Comparison Between Itajubá, MG and Panama City

For one person, living is cheaper in Itajubá, MG: $867 a month against $1,855 in Panama City, rent and utilities included – about $11,900 less a year. Rent and utilities account for most of the difference.

43

Cost of Living Index in Itajubá, MG
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Itajubá, MG Living Index
90

Cost of Living Index in Panama City
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Panama City Living Index

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Itajubá, MG

🇧🇷 Brazil

$867

/mo nomad

Panama City

🇵🇦 Panama

$1,855

/mo nomad

Monthly Cost of Living

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

Monthly costs for one person with rent: $867 in Itajubá, MG versus $1,855 in Panama City.

Itajubá, MG $867
Panama City $1,855

Estimated couple costs with rent: $1,285 in Itajubá, MG versus $2,804 in Panama City.

Itajubá, MG $1,285
Panama City $2,804

Monthly costs for a family of three with rent: $1,703 in Itajubá, MG versus $3,753 in Panama City.

Itajubá, MG $1,703
Panama City $3,753

Living in Itajubá, MG costs roughly 53% less than in Panama City, and outside of rent the biggest gap is in groceries.

The two cities straddle the global median: Itajubá, MG is 36% below, Panama City is 37% above.

Meal at Budget Restaurant

$4.56 R$23.13

$11.63 PAB 11.63

-60.79%

Three-Course Dinner for Two, Mid-Range

$24.00 R$122

$47.92 PAB 47.92

-49.92%

Fast Food Meal (McDonalds, etc)

$4.38 R$22.20

$7.96 PAB 7.96

-44.97%

Cappuccino

$1.29 R$6.53

$4.22 PAB 4.22

-69.43%

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

$1.11 R$5.64

$2.01 PAB 2.01

-44.78%

Water (0.33 liter bottle)

$0.66 R$3.35

$1.56 PAB 1.56

-57.69%

Local Beer (0.5 liter draught)

$1.82 R$9.25

$3.39 PAB 3.39

-46.31%

Imported Beer (0.33 liter bottle)

$2.93 R$14.84

$3.94 PAB 3.94

-25.63%

Milk (1 liter)

$0.95 R$4.80

$1.85 PAB 1.85

-48.65%

White Bread (500g)

$1.65 R$8.38

$2.56 PAB 2.56

-35.55%

Rice (white) (1kg)

$0.97 R$4.94

$3.48 PAB 3.48

-72.13%

Eggs

$2.38 R$12.05

$2.69 PAB 2.69

-11.52%

Local Cheese (1kg)

$10.72 R$54.3

$12.57 PAB 12.57

-14.72%

Chicken Fillets (1kg)

$3.58 R$18.16

$6.83 PAB 6.83

-47.58%

Beef Round Steak (1kg)

$7.88 R$39.97

$10.58 PAB 10.58

-25.52%

Apples (1kg)

$2.88 R$14.59

$4.18 PAB 4.18

-31.10%

Banana (1kg)

$1.58 R$8.03

$1.83 PAB 1.83

-13.66%

Oranges (1kg)

$1.02 R$5.17

$4.20 PAB 4.20

-75.71%

Tomato (1kg)

$1.87 R$9.46

$4.03 PAB 4.03

-53.60%

Potato (1kg)

$1.08 R$5.48

$3.48 PAB 3.48

-68.97%

Onion (1kg)

$1.03 R$5.24

$4.22 PAB 4.22

-75.59%

Lettuce (1 head)

$0.67 R$3.38

$2.41 PAB 2.41

-72.20%

Water (1.5 liter bottle)

$0.71 R$3.60

$1.69 PAB 1.69

-57.99%

Cigarettes 20 Pack (Marlboro, Camel)

$3.05 R$15.47

$6.14 PAB 6.14

-50.33%

Wine (Bottle)

$8.14 R$41.29

$11.30 PAB 11.30

-27.96%

Local Beer (0.5 liter bottle)

$1.17 R$5.95

$1.42 PAB 1.42

-17.61%

Imported Beer (0.33 liter bottle)

$1.59 R$8.05

$2.73 PAB 2.73

-41.76%

One-way Ticket (Public Transport)

$1.03 R$5.20

$0.33 PAB 0.33

212.12%

Public Transport Monthly Pass (Regular Price)

$40.43 R$205

$21.23 PAB 21.23

90.44%

Taxi Start (Normal Tariff)

$1.21 R$6.13

$2.52 PAB 2.52

-51.98%

Taxi (Normal Tariff) (1km)

$0.90 R$4.57

$1.86 PAB 1.86

-51.61%

Taxi 1hour Waiting (Normal Tariff)

$9.26 R$46.95

$21.78 PAB 21.78

-57.48%

Gasoline (1 liter)

$1.13 R$5.71

$1.25 PAB 1.25

-9.60%

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

$23.7K R$120.2K

$21.2K PAB 21.2K

11.69%

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

$32.7K R$165.9K

$21.0K PAB 21.0K

55.70%

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

$133 R$675

$130 PAB 130

2.55%

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

$12.28 R$62.3

$28.13 PAB 28.13

-56.35%

Internet (50+ Mbps, Unlimited Data)

$18.57 R$94.1

$48.21 PAB 48.21

-61.48%

Gym Membership (Monthly)

$15.62 R$79.2

$45.78 PAB 45.78

-65.88%

Tennis Court (1 Hour on Weekend)

$25.34 R$128

$34.92 PAB 34.92

-27.43%

Cinema Ticket

$7.82 R$39.62

$8.67 PAB 8.67

-9.80%

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

$587 R$2,977

$544 PAB 544

7.92%

International Primary School, 1 Child (Yearly)

$13.1K R$66.4K

$9,697 PAB 9,697

35.16%

Jeans (Levis 501 Or Similar)

$42.71 R$217

$66.8 PAB 66.8

-36.01%

Summer Dress (H&M, Zara, etc)

$50.0 R$254

$49.14 PAB 49.14

1.79%

Sport Shoes (Adidas, Nike)

$73.9 R$375

$93.9 PAB 93.9

-21.28%

Men's Leather Business Shoes

$67.4 R$342

$112 PAB 112

-39.59%

1-bedroom Apartment, City Center (Monthly)

$346 R$1,751

$1,257 PAB 1,257

-72.52%

1-bedroom Apartment, Outside City Center (Monthly)

$236 R$1,198

$875 PAB 875

-72.99%

3-bedroom Apartment, City Center (Monthly)

$522 R$2,645

$2,155 PAB 2,155

-75.79%

3-bedroom Apartment, Outside City Center (Monthly)

$366 R$1,853

$1,564 PAB 1,564

-76.63%

Buy Apartment in City Center (m2)

$1,732 R$8,781

$3,122 PAB 3,122

-44.52%

Buy Apartment Outside City Center (m2)

$1,177 R$5,969

$1,709 PAB 1,709

-31.11%

Average Monthly Net Salary (After Tax)

$297 R$1,503

$916 PAB 916

-67.62%

20-Year Fixed Mortgage Interest Rate (Annual %)

11.93

6.39

86.70%

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

Last update for Itajubá, MG: October 13, 2026

Last update for Panama City: October 10, 2026

Monthly budget structure

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

Accommodation & Living

Itajubá, MG

$236 27.3%

Panama City

$875 47.2% 270% $639

Groceries & Markets

Itajubá, MG

$192 22.2%

Panama City

$325 17.5% 69.1% $133

Monthly Utilities & Internet

Itajubá, MG

$164 18.9%

Panama City

$206 11.1% 25.7% $42

Clothing & Footwear

Itajubá, MG

$105 12.2%

Panama City

$145 7.8% 37.3% $39

Eating Out

Itajubá, MG

$87 10.1%

Panama City

$207 11.1% 137% $120

Getting Around

Itajubá, MG

$50 5.8%

Panama City

$34 1.9% 31.6% $16

Sport & Entertainment

Itajubá, MG

$31 3.6%

Panama City

$63 3.4% 102% $32

Cost Breakdown

A one-bedroom apartment in the center runs $346 in Itajubá, MG and $1,257 in Panama City. Housing cost is often the main lever when comparing two cities.

Panama City pays 209% 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: $24.00 in Itajubá, MG vs $48.00 in Panama City for a mid-range dinner for two. Groceries echo the gap at $192 vs $325 per month, with Itajubá, MG cheaper across the board.

Good to know

🇧🇷 Itajubá, MG

🇵🇦 Panama City

🕒 Local time

04:00 4:00 AM

02:00 2:00 AM

2 h behind Itajubá, MG

🌤 Weather

👥 Population

93,073

1,086,990 Capital

💱 Currency

Brazilian Real BRL R$

Panamanian Balboa PAB B/.

📈 Exchange rate

1 BRL = 0.197 USD

1 BRL = 0.175 EUR

1 PAB = 1 USD

1 PAB = 0.89 EUR

Exchange rates and currency converter

PAB, USD, EUR to BRL – Brazilian Real Converter

🇺🇸 United States Dollar ($)

🇧🇷 Brazilian Real (R$)

Brazilian Real exchange rates as of October 18, 2026: 1 USD = 5.07 BRL (1 BRL = 0.197 USD). 1 EUR = 5.7 BRL (1 BRL = 0.175 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 BRL in detail →

On the map

Lowest

Highest

Between locations

Itajubá, MG Panama City 5,100 km ≈ 7 h nonstop flight

From you

Itajubá, MG
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

Itajubá, MG vs Panama City: Cost of Living - Frequently Asked Questions

Itajubá, MG and Panama City differ by about 114% in total monthly costs ($867 vs $1,855 including rent). Itajubá, MG is meaningfully more affordable – a gap that matters a lot on a fixed or modest income.

On paper, salaries run 209% lower in Panama City. That's worth factoring in alongside costs, though remote workers earning in a stronger currency may not notice the difference at all.

Rent for a central apartment: $346 in Itajubá, MG versus $1,257 in Panama City. Housing is usually the single largest factor when comparing overall living costs between the two.

Childcare runs $587 in Itajubá, MG 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 69% higher in Panama City. For households that cook at home regularly, that difference adds up over a month.

At $867 in Itajubá, MG versus $1,855 in Panama City, a $2,000 budget is realistic in Itajubá, MG but tight or insufficient in Panama City. The gap between the two cities makes Itajubá, MG 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.

Safety-wise, Itajubá, MG and Panama City are on par. Petty crime is typical for cities this size, and most residents feel comfortable going about their daily routines in either place.

Expats usually find Itajubá, MG gentler on the wallet – expenses run 114% less than in Panama City. Beyond cost, consider language, visa policies, and how big the international community is in each city.