Cost of Living Comparison Between Lisbon and Panama City Cost of Living Comparison Between Lisbon and Panama City

Monthly Cost of Living

Monthly costs for one person with rent: $2,316 in Lisbon versus $1,875 in Panama City.

Estimated couple costs with rent: $3,361 in Lisbon versus $2,722 in Panama City.

Monthly costs for a family of three with rent: $4,405 in Lisbon versus $3,569 in Panama City.

Living in Lisbon is roughly 24% more expensive than in Panama City, driven mainly by Eating Out.

Both cities are pricier than the global median: Lisbon 69% above, Panama City 36% above.

Meal at Budget Restaurant

$17.30 €14.87

$10.05 PAB 10.05

72.14%

Three-Course Dinner for Two, Mid-Range

$63.3 €54.4

$45.07 PAB 45.07

40.38%

Fast Food Meal (McDonalds, etc)

$11.39 €9.79

$7.91 PAB 7.91

43.99%

Cappuccino

$3.19 €2.74

$4.12 PAB 4.12

-22.57%

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

$2.45 €2.10

$1.93 PAB 1.93

26.94%

Water (0.33 liter bottle)

$1.76 €1.52

$1.56 PAB 1.56

12.82%

Local Beer (0.5 liter draught)

$3.59 €3.09

$2.95 PAB 2.95

21.69%

Imported Beer (0.33 liter bottle)

$3.39 €2.92

$4.07 PAB 4.07

-16.71%

Milk (1 liter)

$1.24 €1.06

$1.91 PAB 1.91

-35.08%

White Bread (500g)

$1.98 €1.71

$2.44 PAB 2.44

-18.85%

Rice (white) (1kg)

$1.52 €1.31

$3.12 PAB 3.12

-51.28%

Eggs

$4.04 €3.47

$2.81 PAB 2.81

43.77%

Local Cheese (1kg)

$13.54 €11.64

$12.63 PAB 12.63

7.21%

Chicken Fillets (1kg)

$8.39 €7.21

$6.49 PAB 6.49

29.28%

Beef Round Steak (1kg)

$18.25 €15.69

$10.25 PAB 10.25

78.05%

Apples (1kg)

$2.29 €1.97

$4.49 PAB 4.49

-49.00%

Banana (1kg)

$1.74 €1.50

$1.69 PAB 1.69

2.96%

Oranges (1kg)

$1.86 €1.60

$3.99 PAB 3.99

-53.38%

Tomato (1kg)

$2.63 €2.26

$3.94 PAB 3.94

-33.25%

Potato (1kg)

$1.92 €1.65

$3.24 PAB 3.24

-40.74%

Onion (1kg)

$2.09 €1.80

$4.27 PAB 4.27

-51.05%

Lettuce (1 head)

$1.44 €1.24

$2.17 PAB 2.17

-33.64%

Water (1.5 liter bottle)

$0.84 €0.72

$1.69 PAB 1.69

-50.30%

Cigarettes 20 Pack (Marlboro, Camel)

$6.78 €5.83

$5.98 PAB 5.98

13.38%

Wine (Bottle)

$5.71 €4.91

$10.78 PAB 10.78

-47.03%

Local Beer (0.5 liter bottle)

$1.38 €1.18

$1.42 PAB 1.42

-2.82%

Imported Beer (0.33 liter bottle)

$2.22 €1.91

$2.71 PAB 2.71

-18.08%

One-way Ticket (Public Transport)

$2.40 €2.06

$0.37 PAB 0.37

548.65%

Public Transport Monthly Pass (Regular Price)

$46.78 €40.22

$20.77 PAB 20.77

125.23%

Taxi Start (Normal Tariff)

$4.17 €3.59

$2.53 PAB 2.53

64.82%

Taxi (Normal Tariff) (1km)

$1.14 €0.98

$1.85 PAB 1.85

-38.38%

Taxi 1hour Waiting (Normal Tariff)

$17.68 €15.20

$21.85 PAB 21.85

-19.08%

Gasoline (1 liter)

$2.32 €2.00

$1.16 PAB 1.16

100.00%

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

$35.3K €30.4K

$21.7K PAB 21.7K

63.07%

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

$41.4K €35.6K

$21.4K PAB 21.4K

93.91%

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

$170 €146

$132 PAB 132

28.56%

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

$19.34 €16.62

$28.93 PAB 28.93

-33.15%

Internet (50+ Mbps, Unlimited Data)

$33.64 €28.92

$49.52 PAB 49.52

-32.07%

Gym Membership (Monthly)

$48.10 €41.35

$47.25 PAB 47.25

1.80%

Tennis Court (1 Hour on Weekend)

$19.90 €17.11

$33.24 PAB 33.24

-40.13%

Cinema Ticket

$9.92 €8.53

$7.88 PAB 7.88

25.89%

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

$717 €617

$546 PAB 546

31.29%

International Primary School, 1 Child (Yearly)

$17.5K €15.0K

$9,732 PAB 9,732

79.58%

Jeans (Levis 501 Or Similar)

$105 €90.1

$59.5 PAB 59.5

75.98%

Summer Dress (H&M, Zara, etc)

$46.95 €40.36

$46.26 PAB 46.26

1.49%

Sport Shoes (Adidas, Nike)

$103 €88.9

$92.3 PAB 92.3

12.06%

Men's Leather Business Shoes

$124 €107

$116 PAB 116

7.10%

1-bedroom Apartment, City Center (Monthly)

$1,677 €1,441

$1,276 PAB 1,276

31.35%

1-bedroom Apartment, Outside City Center (Monthly)

$1,271 €1,093

$904 PAB 904

40.64%

3-bedroom Apartment, City Center (Monthly)

$2,985 €2,566

$2,126 PAB 2,126

40.38%

3-bedroom Apartment, Outside City Center (Monthly)

$1,992 €1,713

$1,469 PAB 1,469

35.60%

Buy Apartment in City Center (m2)

$7,826 €6,728

$3,086 PAB 3,086

153.59%

Buy Apartment Outside City Center (m2)

$4,658 €4,004

$1,697 PAB 1,697

174.42%

Average Monthly Net Salary (After Tax)

$1,583 €1,361

$925 PAB 925

71.18%

20-Year Fixed Mortgage Interest Rate (Annual %)

3.79

6.39

-40.69%

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

Last update for Lisbon: August 30, 2026

Last update for Panama City: August 31, 2026

Cost Breakdown

A one-bedroom apartment in the center runs $1,677 in Lisbon and $1,276 in Panama City. Housing cost is often the main lever when comparing two cities.

Lisbon pays 71% 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: $63.0 in Lisbon vs $45.00 in Panama City. Groceries flip the comparison at $283 vs $318, with Lisbon cheaper for home cooking.

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

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

Lisbon and Panama City differ by about 24% in total monthly costs ($2,316 vs $1,875 including rent). Panama City is meaningfully more affordable – a gap that matters a lot on a fixed or modest income.

Average pay runs 71% higher in Lisbon, 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: $1,677 in Lisbon versus $1,276 in Panama City. Housing is usually the single largest factor when comparing overall living costs between the two.

Childcare runs $717 in Lisbon versus $546 in Panama City. Over years of preschool, even a modest monthly gap compounds into a major financial factor for families.

Shoppers in Lisbon pay roughly 12% less for everyday groceries. It's an unusual reversal that partly offsets higher costs elsewhere.

At $1,875 in Panama City versus $2,316 in Lisbon, a $2,500 budget is realistic in Panama City but tight or insufficient in Lisbon. The gap between the two cities makes Panama City 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, Lisbon 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 Panama City gentler on the wallet – expenses run 24% less than in Lisbon. Beyond cost, consider language, visa policies, and how big the international community is in each city.