Cost of Living Comparison Between Italy and Panama Cost of Living Comparison Between Italy and Panama

Name: Panama
Address: PA

Monthly Cost of Living

Monthly costs for one person with rent: $1,718 in Italy versus $839 in Panama.

Estimated couple costs with rent: $2,621 in Italy versus $1,204 in Panama.

Monthly costs for a family of three with rent: $3,524 in Italy versus $1,568 in Panama.

Living in Italy is roughly 105% more expensive than in Panama on average.

Italy (29% above) and Panama (37% below) straddle the global median.

Meal at Budget Restaurant

$17.58 €15.38

$10.05 PAB 10.05

74.93%

Three-Course Dinner for Two, Mid-Range

$82.5 €72.1

$49.64 PAB 49.64

66.10%

Fast Food Meal (McDonalds, etc)

$11.72 €10.25

$7.37 PAB 7.37

59.02%

Cappuccino

$1.92 €1.68

$3.53 PAB 3.53

-45.61%

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

$2.99 €2.62

$1.47 PAB 1.47

103.40%

Water (0.33 liter bottle)

$1.36 €1.19

$1.24 PAB 1.24

9.68%

Local Beer (0.5 liter draught)

$5.76 €5.04

$2.30 PAB 2.30

150.43%

Imported Beer (0.33 liter bottle)

$5.22 €4.57

$3.69 PAB 3.69

41.46%

Milk (1 liter)

$1.69 €1.48

$1.84 PAB 1.84

-8.15%

White Bread (500g)

$2.33 €2.04

$2.44 PAB 2.44

-4.51%

Rice (white) (1kg)

$3.05 €2.67

$2.36 PAB 2.36

29.24%

Eggs

$3.99 €3.49

$2.69 PAB 2.69

48.33%

Local Cheese (1kg)

$16.68 €14.59

$11.25 PAB 11.25

48.27%

Chicken Fillets (1kg)

$12.57 €11.00

$7.32 PAB 7.32

71.72%

Beef Round Steak (1kg)

$20.53 €17.96

$9.24 PAB 9.24

122.19%

Apples (1kg)

$2.56 €2.24

$4.03 PAB 4.03

-36.48%

Banana (1kg)

$2.20 €1.93

$1.33 PAB 1.33

65.41%

Oranges (1kg)

$2.68 €2.34

$2.89 PAB 2.89

-7.27%

Tomato (1kg)

$3.37 €2.95

$2.99 PAB 2.99

12.71%

Potato (1kg)

$2.04 €1.78

$2.18 PAB 2.18

-6.42%

Onion (1kg)

$1.88 €1.65

$2.46 PAB 2.46

-23.58%

Lettuce (1 head)

$1.47 €1.29

$2.12 PAB 2.12

-30.66%

Water (1.5 liter bottle)

$0.54 €0.47

$1.63 PAB 1.63

-66.87%

Cigarettes 20 Pack (Marlboro, Camel)

$7.00 €6.12

$5.77 PAB 5.77

21.32%

Wine (Bottle)

$7.09 €6.20

$9.98 PAB 9.98

-28.96%

Local Beer (0.5 liter bottle)

$1.80 €1.58

$1.21 PAB 1.21

48.76%

Imported Beer (0.33 liter bottle)

$2.51 €2.19

$2.17 PAB 2.17

15.67%

One-way Ticket (Public Transport)

$1.96 €1.71

$0.52 PAB 0.52

276.92%

Public Transport Monthly Pass (Regular Price)

$41.58 €36.38

$25.39 PAB 25.39

63.77%

Taxi Start (Normal Tariff)

$5.80 €5.08

$2.01 PAB 2.01

188.56%

Taxi (Normal Tariff) (1km)

$1.60 €1.40

$2.06 PAB 2.06

-22.33%

Taxi 1hour Waiting (Normal Tariff)

$35.07 €30.68

$20.72 PAB 20.72

69.26%

Gasoline (1 liter)

$2.13 €1.86

$0.91 PAB 0.91

134.07%

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

$32.6K €28.5K

$22.1K PAB 22.1K

47.48%

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

$33.8K €29.6K

$21.4K PAB 21.4K

58.04%

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

$225 €197

$106 PAB 106

112.10%

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

$13.14 €11.50

$28.57 PAB 28.57

-54.01%

Internet (50+ Mbps, Unlimited Data)

$31.19 €27.29

$48.55 PAB 48.55

-35.76%

Gym Membership (Monthly)

$57.2 €50.0

$50.5 PAB 50.5

13.21%

Tennis Court (1 Hour on Weekend)

$25.85 €22.61

$33.26 PAB 33.26

-22.28%

Cinema Ticket

$10.34 €9.05

$6.96 PAB 6.96

48.56%

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

$564 €493

$445 PAB 445

26.75%

International Primary School, 1 Child (Yearly)

$10.3K €9,047

$11.3K PAB 11.3K

-8.39%

Jeans (Levis 501 Or Similar)

$91.9 €80.4

$47.40 PAB 47.40

93.92%

Summer Dress (H&M, Zara, etc)

$40.54 €35.47

$40.37 PAB 40.37

0.42%

Sport Shoes (Adidas, Nike)

$98.2 €85.9

$83.5 PAB 83.5

17.63%

Men's Leather Business Shoes

$132 €116

$116 PAB 116

13.39%

1-bedroom Apartment, City Center (Monthly)

$855 €748

$933 PAB 933

-8.37%

1-bedroom Apartment, Outside City Center (Monthly)

$663 €580

$722 PAB 722

-8.08%

3-bedroom Apartment, City Center (Monthly)

$1,522 €1,332

$1,721 PAB 1,721

-11.53%

3-bedroom Apartment, Outside City Center (Monthly)

$1,089 €953

$1,333 PAB 1,333

-18.34%

Buy Apartment in City Center (m2)

$3,747 €3,278

$2,974 PAB 2,974

25.99%

Buy Apartment Outside City Center (m2)

$2,299 €2,011

$1,701 PAB 1,701

35.14%

Average Monthly Net Salary (After Tax)

$1,897 €1,659

$813 PAB 813

133.41%

20-Year Fixed Mortgage Interest Rate (Annual %)

4.41

6.3

-30.00%

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

Last update for Italy: July 11, 2026

Last update for Panama: July 12, 2026

Cost Breakdown

National rent averages: $742 in Italy, $371 in Panama. Capital cities: $1,328 in Rome vs $1,158 in Panama City.

National salary averages: $1,912 in Italy, $713 in Panama. Higher pay doesn't always mean more spending money – weigh income against local costs.

Cost Highlights

Rent is 100% higher in Italy.

Dining out costs 174% more in Italy.

Public transport is 780% more expensive in Italy.

Salaries are 168% higher in Italy, and purchasing power comes out stronger in Italy.

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

Italy vs Panama: Cost of Living - Frequently Asked Questions

At $1,822 per month in Italy and $907 in Panama, there's a 101% gap. Keep in mind it varies by city – the difference can be bigger or smaller depending on where you settle within each country.

Day-to-day life is simply cheaper in Panama: lower food prices, cheaper commutes, smaller household bills. Over time, those daily savings make a real difference to your monthly budget and ability to put money away.

Rent in Italy is consistently higher than in Panama across the board, especially in major cities. Housing is usually the single biggest driver of the overall cost difference between the two countries.

In Panama, $2,000 covers most cities easily; in Italy it stretches only to regional areas and falls short in the capital – you'll need to make trade-offs on housing or lifestyle.

It depends on what you're after: Panama wins on affordability; Italy may offer higher salaries, better infrastructure, and different cultural perks. Both attract large expat communities for different reasons.