Last update: Oct 2026

Cost of Living Comparison Between Lisbon and Panama City

For one person, living is cheaper in Panama City: $1,855 a month against $2,223 in Lisbon, rent and utilities included – about $4,400 less a year. Rent and utilities account for most of the difference.

107

Cost of Living Index in Lisbon
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Lisbon Living Index
90

Cost of Living Index in Panama City
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Panama City Living Index

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Lisbon

🇵🇹 Portugal

$2,223

/mo nomad

Panama City

🇵🇦 Panama

$1,855

/mo nomad

Monthly Cost of Living

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

Monthly costs for one person with rent: $2,223 in Lisbon versus $1,855 in Panama City.

Lisbon $2,223
Panama City $1,855

Estimated couple costs with rent: $3,271 in Lisbon versus $2,804 in Panama City.

Lisbon $3,271
Panama City $2,804

Monthly costs for a family of three with rent: $4,319 in Lisbon versus $3,753 in Panama City.

Lisbon $4,319
Panama City $3,753

Living in Lisbon is roughly 20% more expensive than in Panama City, and outside of rent the biggest gap is in groceries.

Both cities are pricier than the global median: Lisbon 65% above, Panama City 37% above.

Meal at Budget Restaurant

$16.50 €14.67

$11.63 PAB 11.63

41.87%

Three-Course Dinner for Two, Mid-Range

$61.3 €54.5

$47.92 PAB 47.92

27.82%

Fast Food Meal (McDonalds, etc)

$11.27 €10.03

$7.96 PAB 7.96

41.58%

Cappuccino

$3.06 €2.72

$4.22 PAB 4.22

-27.49%

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

$2.26 €2.01

$2.01 PAB 2.01

12.44%

Water (0.33 liter bottle)

$1.73 €1.54

$1.56 PAB 1.56

10.90%

Local Beer (0.5 liter draught)

$3.39 €3.02

$3.39 PAB 3.39

Imported Beer (0.33 liter bottle)

$3.40 €3.02

$3.94 PAB 3.94

-13.71%

Milk (1 liter)

$1.12 €1.00

$1.85 PAB 1.85

-39.46%

White Bread (500g)

$1.86 €1.65

$2.56 PAB 2.56

-27.34%

Rice (white) (1kg)

$1.53 €1.36

$3.48 PAB 3.48

-56.03%

Eggs

$3.96 €3.53

$2.69 PAB 2.69

47.21%

Local Cheese (1kg)

$12.76 €11.35

$12.57 PAB 12.57

1.51%

Chicken Fillets (1kg)

$7.90 €7.02

$6.83 PAB 6.83

15.67%

Beef Round Steak (1kg)

$16.97 €15.09

$10.58 PAB 10.58

60.40%

Apples (1kg)

$2.27 €2.02

$4.18 PAB 4.18

-45.69%

Banana (1kg)

$1.75 €1.55

$1.83 PAB 1.83

-4.37%

Oranges (1kg)

$1.85 €1.64

$4.20 PAB 4.20

-55.95%

Tomato (1kg)

$2.57 €2.28

$4.03 PAB 4.03

-36.23%

Potato (1kg)

$1.86 €1.65

$3.48 PAB 3.48

-46.55%

Onion (1kg)

$2.02 €1.80

$4.22 PAB 4.22

-52.13%

Lettuce (1 head)

$1.44 €1.28

$2.41 PAB 2.41

-40.25%

Water (1.5 liter bottle)

$0.82 €0.73

$1.69 PAB 1.69

-51.48%

Cigarettes 20 Pack (Marlboro, Camel)

$6.56 €5.83

$6.14 PAB 6.14

6.84%

Wine (Bottle)

$5.62 €5.00

$11.30 PAB 11.30

-50.27%

Local Beer (0.5 liter bottle)

$1.28 €1.14

$1.42 PAB 1.42

-9.86%

Imported Beer (0.33 liter bottle)

$2.07 €1.84

$2.73 PAB 2.73

-24.18%

One-way Ticket (Public Transport)

$2.35 €2.09

$0.33 PAB 0.33

612.12%

Public Transport Monthly Pass (Regular Price)

$44.18 €39.30

$21.23 PAB 21.23

108.10%

Taxi Start (Normal Tariff)

$3.99 €3.55

$2.52 PAB 2.52

58.33%

Taxi (Normal Tariff) (1km)

$1.09 €0.97

$1.86 PAB 1.86

-41.40%

Taxi 1hour Waiting (Normal Tariff)

$16.64 €14.81

$21.78 PAB 21.78

-23.60%

Gasoline (1 liter)

$2.28 €2.03

$1.25 PAB 1.25

82.40%

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

$33.7K €30.0K

$21.2K PAB 21.2K

58.56%

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

$39.3K €35.0K

$21.0K PAB 21.0K

86.90%

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

$167 €149

$130 PAB 130

29.00%

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

$18.80 €16.72

$28.13 PAB 28.13

-33.17%

Internet (50+ Mbps, Unlimited Data)

$33.09 €29.43

$48.21 PAB 48.21

-31.36%

Gym Membership (Monthly)

$46.01 €40.93

$45.78 PAB 45.78

0.50%

Tennis Court (1 Hour on Weekend)

$19.19 €17.07

$34.92 PAB 34.92

-45.05%

Cinema Ticket

$9.84 €8.75

$8.67 PAB 8.67

13.49%

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

$677 €602

$544 PAB 544

24.44%

International Primary School, 1 Child (Yearly)

$16.9K €15.1K

$9,697 PAB 9,697

74.48%

Jeans (Levis 501 Or Similar)

$101 €90.1

$66.8 PAB 66.8

51.67%

Summer Dress (H&M, Zara, etc)

$45.76 €40.70

$49.14 PAB 49.14

-6.88%

Sport Shoes (Adidas, Nike)

$100.0 €88.9

$93.9 PAB 93.9

6.54%

Men's Leather Business Shoes

$123 €109

$112 PAB 112

10.07%

1-bedroom Apartment, City Center (Monthly)

$1,614 €1,436

$1,257 PAB 1,257

28.38%

1-bedroom Apartment, Outside City Center (Monthly)

$1,197 €1,065

$875 PAB 875

36.82%

3-bedroom Apartment, City Center (Monthly)

$2,862 €2,545

$2,155 PAB 2,155

32.78%

3-bedroom Apartment, Outside City Center (Monthly)

$1,990 €1,770

$1,564 PAB 1,564

27.27%

Buy Apartment in City Center (m2)

$7,577 €6,740

$3,122 PAB 3,122

142.68%

Buy Apartment Outside City Center (m2)

$4,307 €3,831

$1,709 PAB 1,709

151.97%

Average Monthly Net Salary (After Tax)

$1,588 €1,412

$916 PAB 916

73.35%

20-Year Fixed Mortgage Interest Rate (Annual %)

3.85

6.39

-39.75%

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

Last update for Lisbon: October 11, 2026

Last update for Panama City: October 10, 2026

Monthly budget structure

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

Accommodation & Living

Lisbon

$1.2K 53.9%

Panama City

$875 47.2% 26.9% $322

Groceries & Markets

Lisbon

$269 12.1%

Panama City

$325 17.5% 20.7% $56

Eating Out

Lisbon

$242 10.9%

Panama City

$207 11.1% 14.7% $36

Monthly Utilities & Internet

Lisbon

$219 9.9%

Panama City

$206 11.1% 6% $13

Clothing & Footwear

Lisbon

$166 7.5%

Panama City

$145 7.8% 13.1% $22

Sport & Entertainment

Lisbon

$66 3%

Panama City

$63 3.4% 3.9% $2.6

Getting Around

Lisbon

$63 2.8%

Panama City

$34 1.9% 45.4% $29

Cost Breakdown

A one-bedroom apartment in the center runs $1,614 in Lisbon and $1,257 in Panama City. Housing cost is often the main lever when comparing two cities.

Lisbon pays 73% 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: $61.0 in Lisbon vs $48.00 in Panama City. Groceries flip the comparison at $269 vs $325, with Lisbon cheaper for home cooking.

Good to know

🇵🇹 Lisbon

🇵🇦 Panama City

🕒 Local time

16:24 4:24 PM

10:24 10:24 AM

6 h behind Lisbon

🌤 Weather

👥 Population

545,923 Capital

1,086,990 Capital

💱 Currency

Euro EUR €

Panamanian Balboa PAB B/.

📈 Exchange rate

1 EUR = 1.12 USD

1 PAB = 1 USD

1 PAB = 0.89 EUR

Exchange rates and currency converter

On the map

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Between locations

Lisbon Panama City 7,690 km ≈ 10 h nonstop flight

From you

Lisbon
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

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

Lisbon and Panama City differ by about 20% in total monthly costs ($2,223 vs $1,855 including rent). Panama City is meaningfully more affordable – a gap that matters a lot on a fixed or modest income.

Average pay runs 73% 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: $1,614 in Lisbon versus $1,257 in Panama City. Housing is usually the single largest factor when comparing overall living costs between the two.

Childcare runs $677 in Lisbon versus $544 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 21% less for everyday groceries. It's an unusual reversal that partly offsets higher costs elsewhere.

At $1,855 in Panama City versus $2,223 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 20% less than in Lisbon. Beyond cost, consider language, visa policies, and how big the international community is in each city.