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: $2,291 in Lisbon versus $1,814 in Panama City.

Estimated couple costs with rent: $3,322 in Lisbon versus $2,728 in Panama City.

Monthly costs for a family of three with rent: $4,354 in Lisbon versus $3,643 in Panama City.

Living in Lisbon is roughly 26% more expensive than in Panama City, driven mainly by Eating Out.

Both cities are pricier than the global median: Lisbon 71% above, Panama City 36% above.

Meal at Budget Restaurant

$16.19 €14.18

$10.13 PAB 10.13

59.82%

Three-Course Dinner for Two, Mid-Range

$63.3 €55.5

$49.65 PAB 49.65

27.55%

Fast Food Meal (McDonalds, etc)

$10.32 €9.04

$8.06 PAB 8.06

28.04%

Cappuccino

$2.83 €2.48

$3.60 PAB 3.60

-21.39%

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

$2.29 €2.01

$1.72 PAB 1.72

33.14%

Water (0.33 liter bottle)

$1.58 €1.38

$1.36 PAB 1.36

16.18%

Local Beer (0.5 liter draught)

$3.40 €2.98

$2.95 PAB 2.95

15.25%

Imported Beer (0.33 liter bottle)

$4.03 €3.53

$4.03 PAB 4.03

Milk (1 liter)

$1.09 €0.96

$1.81 PAB 1.81

-39.78%

White Bread (500g)

$1.75 €1.53

$2.46 PAB 2.46

-28.86%

Rice (white) (1kg)

$1.76 €1.54

$2.41 PAB 2.41

-26.97%

Eggs

$3.17 €2.77

$2.93 PAB 2.93

8.19%

Local Cheese (1kg)

$13.19 €11.56

$11.38 PAB 11.38

15.91%

Chicken Fillets (1kg)

$7.97 €6.98

$7.06 PAB 7.06

12.89%

Beef Round Steak (1kg)

$15.53 €13.60

$9.85 PAB 9.85

57.66%

Apples (1kg)

$2.37 €2.07

$3.37 PAB 3.37

-29.67%

Banana (1kg)

$1.71 €1.49

$1.51 PAB 1.51

13.25%

Oranges (1kg)

$2.01 €1.76

$2.86 PAB 2.86

-29.72%

Tomato (1kg)

$2.43 €2.13

$3.12 PAB 3.12

-22.12%

Potato (1kg)

$1.76 €1.54

$2.23 PAB 2.23

-21.08%

Onion (1kg)

$2.03 €1.78

$2.76 PAB 2.76

-26.45%

Lettuce (1 head)

$1.92 €1.68

$2.18 PAB 2.18

-11.93%

Water (1.5 liter bottle)

$0.85 €0.74

$1.53 PAB 1.53

-44.44%

Cigarettes 20 Pack (Marlboro, Camel)

$6.58 €5.76

$6.09 PAB 6.09

8.05%

Wine (Bottle)

$5.58 €4.89

$10.78 PAB 10.78

-48.24%

Local Beer (0.5 liter bottle)

$1.33 €1.17

$1.28 PAB 1.28

3.91%

Imported Beer (0.33 liter bottle)

$2.97 €2.60

$2.36 PAB 2.36

25.85%

One-way Ticket (Public Transport)

$2.28 €1.99

$0.44 PAB 0.44

418.18%

Public Transport Monthly Pass (Regular Price)

$45.79 €40.10

$22.10 PAB 22.10

107.19%

Taxi Start (Normal Tariff)

$4.23 €3.70

$2.44 PAB 2.44

73.36%

Taxi (Normal Tariff) (1km)

$0.81 €0.71

$1.77 PAB 1.77

-54.24%

Taxi 1hour Waiting (Normal Tariff)

$18.44 €16.15

$21.61 PAB 21.61

-14.67%

Gasoline (1 liter)

$2.08 €1.82

$0.95 PAB 0.95

118.95%

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

$34.7K €30.4K

$19.6K PAB 19.6K

76.82%

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

$39.2K €34.3K

$20.6K PAB 20.6K

90.37%

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

$148 €130

$122 PAB 122

21.29%

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

$20.46 €17.92

$29.88 PAB 29.88

-31.53%

Internet (50+ Mbps, Unlimited Data)

$39.56 €34.64

$49.49 PAB 49.49

-20.06%

Gym Membership (Monthly)

$47.99 €42.03

$45.36 PAB 45.36

5.80%

Tennis Court (1 Hour on Weekend)

$18.60 €16.29

$32.73 PAB 32.73

-43.17%

Cinema Ticket

$9.22 €8.08

$7.85 PAB 7.85

17.45%

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

$616 €540

$484 PAB 484

27.31%

International Primary School, 1 Child (Yearly)

$16.4K €14.4K

$15.8K PAB 15.8K

4.00%

Jeans (Levis 501 Or Similar)

$103 €90.0

$51.6 PAB 51.6

98.99%

Summer Dress (H&M, Zara, etc)

$41.74 €36.55

$46.50 PAB 46.50

-10.24%

Sport Shoes (Adidas, Nike)

$94.8 €83.0

$88.6 PAB 88.6

6.94%

Men's Leather Business Shoes

$122 €107

$121 PAB 121

0.65%

1-bedroom Apartment, City Center (Monthly)

$1,633 €1,430

$1,158 PAB 1,158

40.95%

1-bedroom Apartment, Outside City Center (Monthly)

$1,232 €1,079

$894 PAB 894

37.85%

3-bedroom Apartment, City Center (Monthly)

$3,098 €2,713

$2,037 PAB 2,037

52.14%

3-bedroom Apartment, Outside City Center (Monthly)

$2,031 €1,779

$1,578 PAB 1,578

28.73%

Buy Apartment in City Center (m2)

$7,831 €6,858

$3,124 PAB 3,124

150.65%

Buy Apartment Outside City Center (m2)

$4,389 €3,844

$1,693 PAB 1,693

159.32%

Average Monthly Net Salary (After Tax)

$1,607 €1,408

$926 PAB 926

73.53%

20-Year Fixed Mortgage Interest Rate (Annual %)

3.81

6.23

-38.84%

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

Last update for Lisbon: July 14, 2026

Last update for Panama City: July 12, 2026

Cost Breakdown

A one-bedroom apartment in the center runs $1,633 in Lisbon and $1,158 in Panama City. Housing cost is often the main lever when comparing two cities.

Lisbon pays 74% 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 $50.0 in Panama City. Groceries flip the comparison at $267 vs $288, 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 26% in total monthly costs ($2,291 vs $1,814 including rent). Panama City is meaningfully more affordable – a gap that matters a lot on a fixed or modest income.

Average pay runs 74% 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: $1,633 in Lisbon versus $1,158 in Panama City. Housing is usually the single largest factor when comparing overall living costs between the two.

Childcare runs $616 in Lisbon versus $484 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 8% less for everyday groceries. It's an unusual reversal that partly offsets higher costs elsewhere.

At $1,814 in Panama City versus $2,291 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 26% less than in Lisbon. Beyond cost, consider language, visa policies, and how big the international community is in each city.