Last update: Oct 2026

Cost of Living Comparison Between Medellin and Boquete

For one person, living is cheaper in Boquete: $1,438 a month against $1,639 in Medellin, rent and utilities included – about $2,400 less a year. Other living expenses account for most of the difference.

79

Cost of Living Index in Medellin
Learn more

Medellin Living Index
70

Cost of Living Index in Boquete
Learn more

Boquete Living Index

Jump to prices

Medellin

🇨🇴 Colombia

$1,639

/mo nomad

Boquete

🇵🇦 Panama

$1,438

/mo nomad

Monthly Cost of Living

How much you'll spend in Medellin and in Boquete

Real prices from locals and on-the-ground checks – rent, groceries, transit and the daily extras. Here's what a month in Medellin and in Boquete actually costs, broken down by who's living it.

Monthly costs for one person with rent: $1,639 in Medellin versus $1,438 in Boquete.

Medellin $1,639
Boquete $1,438

Estimated couple costs with rent: $2,413 in Medellin versus $2,232 in Boquete.

Medellin $2,413
Boquete $2,232

Monthly costs for a family of three with rent: $3,186 in Medellin versus $3,026 in Boquete.

Medellin $3,186
Boquete $3,026

Living in Medellin is roughly 14% more expensive than in Boquete, and outside of rent the biggest gap is in clothing.

Both cities are pricier than the global median: Medellin 20% above, Boquete 6% above.

Meal at Budget Restaurant

$8.09 COP 26.1K

$6.34 PAB 6.34

27.60%

Three-Course Dinner for Two, Mid-Range

$47.05 COP 151.7K

$40.22 PAB 40.22

16.98%

Fast Food Meal (McDonalds, etc)

$9.50 COP 30.6K

$7.31 PAB 7.31

29.96%

Cappuccino

$3.01 COP 9,722

$3.73 PAB 3.73

-19.30%

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

$1.80 COP 5,801

$1.34 PAB 1.34

34.33%

Water (0.33 liter bottle)

$1.41 COP 4,554

$1.20 PAB 1.20

17.50%

Local Beer (0.5 liter draught)

$3.18 COP 10.2K

$2.29 PAB 2.29

38.86%

Imported Beer (0.33 liter bottle)

$5.75 COP 18.5K

$5.11 PAB 5.11

12.52%

Milk (1 liter)

$1.51 COP 4,869

$1.83 PAB 1.83

-17.49%

White Bread (500g)

$2.38 COP 7,667

$2.14 PAB 2.14

11.21%

Rice (white) (1kg)

$1.77 COP 5,712

$2.15 PAB 2.15

-17.67%

Eggs

$2.89 COP 9,320

$2.51 PAB 2.51

15.14%

Local Cheese (1kg)

$10.19 COP 32.9K

$9.32 PAB 9.32

9.33%

Chicken Fillets (1kg)

$9.87 COP 31.8K

$7.49 PAB 7.49

31.78%

Beef Round Steak (1kg)

$13.99 COP 45.1K

$15.36 PAB 15.36

-8.92%

Apples (1kg)

$3.97 COP 12.8K

$4.49 PAB 4.49

-11.58%

Banana (1kg)

$1.55 COP 5,005

$0.99 PAB 0.99

56.57%

Oranges (1kg)

$2.18 COP 7,039

$4.28 PAB 4.28

-49.07%

Tomato (1kg)

$2.18 COP 7,041

$2.19 PAB 2.19

-0.46%

Potato (1kg)

$1.96 COP 6,328

$2.15 PAB 2.15

-8.84%

Onion (1kg)

$1.59 COP 5,125

$2.26 PAB 2.26

-29.65%

Lettuce (1 head)

$1.15 COP 3,694

$2.20 PAB 2.20

-47.73%

Water (1.5 liter bottle)

$1.24 COP 4,009

$1.71 PAB 1.71

-27.49%

Cigarettes 20 Pack (Marlboro, Camel)

$3.96 COP 12.8K

$5.02 PAB 5.02

-21.12%

Wine (Bottle)

$13.68 COP 44.1K

$8.13 PAB 8.13

68.27%

Local Beer (0.5 liter bottle)

$1.66 COP 5,352

$1.15 PAB 1.15

44.35%

Imported Beer (0.33 liter bottle)

$2.26 COP 7,281

$2.61 PAB 2.61

-13.41%

One-way Ticket (Public Transport)

$1.17 COP 3,766

$1.42 PAB 1.42

-17.61%

Public Transport Monthly Pass (Regular Price)

$77.4 COP 249.5K

$24.84 PAB 24.84

211.47%

Taxi Start (Normal Tariff)

$1.27 COP 4,089

$1.02 PAB 1.02

24.51%

Taxi (Normal Tariff) (1km)

$2.05 COP 6,603

$2.05 PAB 2.05

Taxi 1hour Waiting (Normal Tariff)

$8.55 COP 27.6K

$29.44 PAB 29.44

-70.96%

Gasoline (1 liter)

$1.35 COP 4,343

$1.14 PAB 1.14

18.42%

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

$34.1K COP 109.8M

$26.0K PAB 26.0K

31.13%

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

$34.7K COP 111.8M

$22.4K PAB 22.4K

54.66%

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

$170 COP 547.0K

$59.2 PAB 59.2

186.67%

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

$13.55 COP 43.7K

$26.16 PAB 26.16

-48.20%

Internet (50+ Mbps, Unlimited Data)

$28.07 COP 90.5K

$43.16 PAB 43.16

-34.96%

Gym Membership (Monthly)

$43.70 COP 140.9K

$82.1 PAB 82.1

-46.77%

Tennis Court (1 Hour on Weekend)

$17.19 COP 55.4K

$17.19 PAB 17.19

Cinema Ticket

$6.91 COP 22.3K

$6.63 PAB 6.63

4.22%

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

$797 COP 2.6M

International Primary School, 1 Child (Yearly)

$9,112 COP 29.4M

$5,932 PAB 5,932

53.61%

Jeans (Levis 501 Or Similar)

$84.7 COP 273.2K

$24.90 PAB 24.90

240.24%

Summer Dress (H&M, Zara, etc)

$58.0 COP 186.9K

$25.18 PAB 25.18

130.18%

Sport Shoes (Adidas, Nike)

$135 COP 435.2K

$44.37 PAB 44.37

204.17%

Men's Leather Business Shoes

$97.9 COP 315.6K

1-bedroom Apartment, City Center (Monthly)

$1,208 COP 3.9M

$840 PAB 840

43.82%

1-bedroom Apartment, Outside City Center (Monthly)

$642 COP 2.1M

$687 PAB 687

-6.57%

3-bedroom Apartment, City Center (Monthly)

$2,028 COP 6.5M

$1,540 PAB 1,540

31.67%

3-bedroom Apartment, Outside City Center (Monthly)

$1,012 COP 3.3M

$1,302 PAB 1,302

-22.30%

Buy Apartment in City Center (m2)

$4,170 COP 13.4M

$1,198 PAB 1,198

248.02%

Buy Apartment Outside City Center (m2)

$1,910 COP 6.2M

$1,158 PAB 1,158

64.94%

Average Monthly Net Salary (After Tax)

$657 COP 2.1M

$797 PAB 797

-17.52%

20-Year Fixed Mortgage Interest Rate (Annual %)

10.94

6.5

68.31%

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

Last update for Medellin: October 25, 2026

Last update for Boquete: October 24, 2026

Monthly budget structure

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

Accommodation & Living

Medellin

$642 39.1%

Boquete

$687 47.8% 7% $45

Groceries & Markets

Medellin

$297 18.1%

Boquete

$294 20.4% 1% $3.1

Monthly Utilities & Internet

Medellin

$211 12.9%

Boquete

$129 8.9% 39.2% $83

Eating Out

Medellin

$170 10.4%

Boquete

$149 10.4% 12% $20

Clothing & Footwear

Medellin

$169 10.3%

Boquete

$43 * 3% 74.8% $126

Getting Around

Medellin

$94 5.7%

Boquete

$42 2.9% 55.4% $52

Sport & Entertainment

Medellin

$58 3.5%

Boquete

$95 6.6% 65.7% $38

Categories marked with * are only partly priced – their share counts the items that do have prices.

Cost Breakdown

A one-bedroom apartment in the center runs $1,208 in Medellin and $840 in Boquete. Housing cost is often the main lever when comparing two cities.

Boquete pays 21% more on average while also being the cheaper of the two. The combined effect is a noticeably stronger local purchasing power.

Dining out: $47 in Medellin vs $40 in Boquete for a mid-range dinner for two. Groceries echo the gap at $297 vs $294 per month, with Boquete cheaper across the board.

Good to know

🇨🇴 Medellin

🇵🇦 Boquete

🕒 Local time

12:58 12:58 PM

Same time as Medellin

🌤 Weather

👥 Population

2,486,723

7,000

💱 Currency

Colombian Peso COP $

Panamanian Balboa PAB B/.

📈 Exchange rate

10,000 COP = 3.1 USD

10,000 COP = 2.78 EUR

1 PAB = 1 USD

1 PAB = 0.896 EUR

Exchange rates and currency converter

PAB, USD, EUR to COP – Colombian Peso Converter

🇺🇸 United States Dollar ($)

🇨🇴 Colombian Peso ($)

Colombian Peso exchange rates as of November 1, 2026: 1 USD = 3,224 COP (10,000 COP = 3.1 USD). 1 EUR = 3,600 COP (10,000 COP = 2.78 EUR).

Panamanian Balboa exchange rates as of November 1, 2026: 1 USD = 1 PAB (1 PAB = 1 USD). 1 EUR = 1.12 PAB (1 PAB = 0.896 EUR).

USD to COP in detail →

On the map

Lowest

Highest

Between locations

Medellin Boquete 800 km ≈ 1 h 30 min nonstop flight

From you

Medellin
Boquete

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

Medellin vs Boquete: Cost of Living - Frequently Asked Questions

Boquete is about 12% cheaper overall, especially in clothing, transport, and eating out. That difference adds up to real monthly savings that compound significantly over time.

On paper, salaries run 18% lower in Medellin. That’s worth factoring in alongside costs, though remote workers earning in a stronger currency may not notice the difference at all.

Rent for a central apartment: $1,208 in Medellin versus $840 in Boquete. Housing is usually the single largest factor when comparing overall living costs between the two.

A monthly transit pass in Boquete runs roughly 68% less than in Medellin. The price difference matters if you commute daily and watch your budget.

Dining out is cheaper in Boquete – a meal for two runs $40 versus $47 in Medellin. If you eat out regularly, this makes a real dent in your monthly spending.

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.