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: $1,782 in Italy versus $802 in Panama.

Estimated couple costs with rent: $2,722 in Italy versus $1,197 in Panama.

Monthly costs for a family of three with rent: $3,662 in Italy versus $1,591 in Panama.

Living in Italy is roughly 122% more expensive than in Panama on average.

Italy (30% above) and Panama (41% below) straddle the global median.

Meal at Budget Restaurant

$21.07 €18.36

$7.88 PAB 7.88

167.39%

Three-Course Dinner for Two, Mid-Range

$81.0 €70.7

$44.24 PAB 44.24

83.18%

Fast Food Meal (McDonalds, etc)

$11.50 €10.02

$8.10 PAB 8.10

41.98%

Cappuccino

$2.10 €1.83

$4.03 PAB 4.03

-47.89%

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

$3.07 €2.67

$1.62 PAB 1.62

89.51%

Water (0.33 liter bottle)

$1.44 €1.25

$1.33 PAB 1.33

8.27%

Local Beer (0.5 liter draught)

$5.86 €5.11

$2.23 PAB 2.23

162.78%

Imported Beer (0.33 liter bottle)

$5.72 €4.99

$3.89 PAB 3.89

47.04%

Milk (1 liter)

$1.59 €1.39

$1.87 PAB 1.87

-14.97%

White Bread (500g)

$2.41 €2.10

$2.29 PAB 2.29

5.24%

Rice (white) (1kg)

$2.99 €2.61

$2.86 PAB 2.86

4.55%

Eggs

$4.34 €3.78

$2.53 PAB 2.53

71.54%

Local Cheese (1kg)

$17.62 €15.36

$12.38 PAB 12.38

42.33%

Chicken Fillets (1kg)

$12.69 €11.06

$6.94 PAB 6.94

82.85%

Beef Round Steak (1kg)

$20.80 €18.13

$10.04 PAB 10.04

107.17%

Apples (1kg)

$2.61 €2.28

$4.27 PAB 4.27

-38.88%

Banana (1kg)

$2.14 €1.87

$1.45 PAB 1.45

47.59%

Oranges (1kg)

$2.79 €2.43

$3.23 PAB 3.23

-13.62%

Tomato (1kg)

$3.37 €2.94

$3.56 PAB 3.56

-5.34%

Potato (1kg)

$2.04 €1.78

$2.52 PAB 2.52

-19.05%

Onion (1kg)

$1.96 €1.71

$3.19 PAB 3.19

-38.56%

Lettuce (1 head)

$1.56 €1.36

$2.17 PAB 2.17

-28.11%

Water (1.5 liter bottle)

$0.53 €0.46

$1.59 PAB 1.59

-66.67%

Cigarettes 20 Pack (Marlboro, Camel)

$6.84 €5.96

$5.95 PAB 5.95

14.96%

Wine (Bottle)

$7.71 €6.72

$9.91 PAB 9.91

-22.20%

Local Beer (0.5 liter bottle)

$1.86 €1.62

$1.39 PAB 1.39

33.81%

Imported Beer (0.33 liter bottle)

$2.49 €2.17

$2.33 PAB 2.33

6.87%

One-way Ticket (Public Transport)

$1.91 €1.67

$0.49 PAB 0.49

289.80%

Public Transport Monthly Pass (Regular Price)

$44.16 €38.49

$21.20 PAB 21.20

108.30%

Taxi Start (Normal Tariff)

$5.87 €5.12

$2.46 PAB 2.46

138.62%

Taxi (Normal Tariff) (1km)

$1.70 €1.49

$1.84 PAB 1.84

-7.61%

Taxi 1hour Waiting (Normal Tariff)

$35.16 €30.65

$22.35 PAB 22.35

57.32%

Gasoline (1 liter)

$2.11 €1.84

$1.07 PAB 1.07

97.20%

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

$36.9K €32.2K

$21.6K PAB 21.6K

71.16%

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

$36.5K €31.8K

$22.6K PAB 22.6K

61.45%

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

$229 €200

$117 PAB 117

95.39%

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

$12.09 €10.54

$26.75 PAB 26.75

-54.80%

Internet (50+ Mbps, Unlimited Data)

$31.57 €27.52

$46.64 PAB 46.64

-32.31%

Gym Membership (Monthly)

$54.1 €47.18

$49.56 PAB 49.56

9.20%

Tennis Court (1 Hour on Weekend)

$24.51 €21.37

$28.52 PAB 28.52

-14.06%

Cinema Ticket

$10.78 €9.40

$7.78 PAB 7.78

38.56%

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

$562 €490

$537 PAB 537

4.65%

International Primary School, 1 Child (Yearly)

$12.2K €10.7K

$7,756 PAB 7,756

57.73%

Jeans (Levis 501 Or Similar)

$94.3 €82.2

$49.93 PAB 49.93

88.78%

Summer Dress (H&M, Zara, etc)

$40.72 €35.50

$38.34 PAB 38.34

6.21%

Sport Shoes (Adidas, Nike)

$104 €90.7

$89.8 PAB 89.8

15.87%

Men's Leather Business Shoes

$136 €119

$118 PAB 118

15.63%

1-bedroom Apartment, City Center (Monthly)

$832 €725

$914 PAB 914

-9.01%

1-bedroom Apartment, Outside City Center (Monthly)

$646 €564

$702 PAB 702

-7.95%

3-bedroom Apartment, City Center (Monthly)

$1,450 €1,264

$1,680 PAB 1,680

-13.71%

3-bedroom Apartment, Outside City Center (Monthly)

$1,081 €942

$1,241 PAB 1,241

-12.90%

Buy Apartment in City Center (m2)

$3,816 €3,326

$3,040 PAB 3,040

25.51%

Buy Apartment Outside City Center (m2)

$2,312 €2,015

$1,657 PAB 1,657

39.50%

Average Monthly Net Salary (After Tax)

$1,954 €1,703

$827 PAB 827

136.28%

20-Year Fixed Mortgage Interest Rate (Annual %)

3.57

6.35

-43.78%

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

Last update for Italy: September 13, 2026

Last update for Panama: September 12, 2026

Cost Breakdown

National rent averages: $748 in Italy, $340 in Panama. Capital cities: $1,238 in Rome vs $1,335 in Panama City.

National salary averages: $1,958 in Italy, $714 in Panama. Higher pay doesn't always mean more spending money – weigh income against local costs.

Cost Highlights

Rent is 120% higher in Italy.

Dining out costs 168% more in Italy.

Public transport is 1300% more expensive in Italy.

Salaries are 174% 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 $1,913 per month in Italy and $937 in Panama, there's a 104% 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.