Cost of Living Comparison Between Mexico and Panama Cost of Living Comparison Between Mexico and Panama

Name: Panama
Address: PA

Monthly Cost of Living

Monthly costs for one person with rent: $1,121 in Mexico versus $839 in Panama.

Estimated couple costs with rent: $1,791 in Mexico versus $1,204 in Panama.

Monthly costs for a family of three with rent: $2,461 in Mexico versus $1,568 in Panama.

Living in Mexico is roughly 34% more expensive than Panama on average.

Both countries sit below the global median: Mexico 16% lower, Panama 37% lower.

Meal at Budget Restaurant

$10.51 MX$182

$9.83 PAB 9.83

6.92%

Three-Course Dinner for Two, Mid-Range

$41.93 MX$725

$49.27 PAB 49.27

-14.90%

Fast Food Meal (McDonalds, etc)

$7.84 MX$136

$7.71 PAB 7.71

1.69%

Cappuccino

$3.42 MX$59.2

$3.58 PAB 3.58

-4.47%

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

$1.32 MX$22.83

$1.47 PAB 1.47

-10.20%

Water (0.33 liter bottle)

$0.98 MX$16.98

$1.28 PAB 1.28

-23.44%

Local Beer (0.5 liter draught)

$2.36 MX$40.81

$2.19 PAB 2.19

7.76%

Imported Beer (0.33 liter bottle)

$4.27 MX$73.8

$3.69 PAB 3.69

15.72%

Milk (1 liter)

$1.51 MX$26.15

$1.79 PAB 1.79

-15.64%

White Bread (500g)

$2.66 MX$45.95

$2.48 PAB 2.48

7.26%

Rice (white) (1kg)

$1.70 MX$29.46

$2.31 PAB 2.31

-26.41%

Eggs

$2.35 MX$40.66

$2.63 PAB 2.63

-10.65%

Local Cheese (1kg)

$8.40 MX$145

$11.15 PAB 11.15

-24.66%

Chicken Fillets (1kg)

$7.55 MX$131

$7.03 PAB 7.03

7.40%

Beef Round Steak (1kg)

$10.84 MX$187

$9.03 PAB 9.03

20.04%

Apples (1kg)

$2.72 MX$47.13

$3.91 PAB 3.91

-30.43%

Banana (1kg)

$1.51 MX$26.08

$1.33 PAB 1.33

13.53%

Oranges (1kg)

$1.92 MX$33.26

$2.88 PAB 2.88

-33.33%

Tomato (1kg)

$1.80 MX$31.14

$3.05 PAB 3.05

-40.98%

Potato (1kg)

$2.03 MX$35.07

$2.17 PAB 2.17

-6.45%

Onion (1kg)

$1.99 MX$34.49

$2.37 PAB 2.37

-16.03%

Lettuce (1 head)

$1.31 MX$22.71

$2.07 PAB 2.07

-36.71%

Water (1.5 liter bottle)

$1.06 MX$18.26

$1.64 PAB 1.64

-35.37%

Cigarettes 20 Pack (Marlboro, Camel)

$4.26 MX$73.7

$6.08 PAB 6.08

-29.93%

Wine (Bottle)

$11.56 MX$200

$10.16 PAB 10.16

13.78%

Local Beer (0.5 liter bottle)

$1.58 MX$27.25

$1.25 PAB 1.25

26.40%

Imported Beer (0.33 liter bottle)

$3.03 MX$52.3

$2.22 PAB 2.22

36.49%

One-way Ticket (Public Transport)

$0.61 MX$10.48

$0.52 PAB 0.52

17.31%

Public Transport Monthly Pass (Regular Price)

$26.28 MX$455

$25.30 PAB 25.30

3.87%

Taxi Start (Normal Tariff)

$2.69 MX$46.54

$2.02 PAB 2.02

33.17%

Taxi (Normal Tariff) (1km)

$1.93 MX$33.37

$1.97 PAB 1.97

-2.03%

Taxi 1hour Waiting (Normal Tariff)

$10.64 MX$184

$20.62 PAB 20.62

-48.40%

Gasoline (1 liter)

$1.32 MX$22.91

$0.88 PAB 0.88

50.00%

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

$20.1K MX$346.9K

$22.1K PAB 22.1K

-9.24%

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

$23.4K MX$405.5K

$20.7K PAB 20.7K

13.44%

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

$62.4 MX$1,080

$108 PAB 108

-42.37%

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

$23.27 MX$403

$29.06 PAB 29.06

-19.92%

Internet (50+ Mbps, Unlimited Data)

$28.56 MX$494

$48.71 PAB 48.71

-41.37%

Gym Membership (Monthly)

$34.68 MX$600

$49.82 PAB 49.82

-30.39%

Tennis Court (1 Hour on Weekend)

$18.65 MX$323

$33.48 PAB 33.48

-44.30%

Cinema Ticket

$4.69 MX$81.1

$6.79 PAB 6.79

-30.93%

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

$249 MX$4,308

$451 PAB 451

-44.76%

International Primary School, 1 Child (Yearly)

$5,774 MX$99.9K

$11.4K PAB 11.4K

-49.44%

Jeans (Levis 501 Or Similar)

$52.3 MX$904

$46.60 PAB 46.60

12.12%

Summer Dress (H&M, Zara, etc)

$40.31 MX$697

$41.52 PAB 41.52

-2.91%

Sport Shoes (Adidas, Nike)

$93.0 MX$1,609

$83.5 PAB 83.5

11.48%

Men's Leather Business Shoes

$87.6 MX$1,515

$117 PAB 117

-24.91%

1-bedroom Apartment, City Center (Monthly)

$639 MX$11.1K

$933 PAB 933

-31.53%

1-bedroom Apartment, Outside City Center (Monthly)

$448 MX$7,743

$728 PAB 728

-38.54%

3-bedroom Apartment, City Center (Monthly)

$1,226 MX$21.2K

$1,732 PAB 1,732

-29.22%

3-bedroom Apartment, Outside City Center (Monthly)

$870 MX$15.0K

$1,363 PAB 1,363

-36.17%

Buy Apartment in City Center (m2)

$2,628 MX$45.5K

$2,991 PAB 2,991

-12.13%

Buy Apartment Outside City Center (m2)

$1,563 MX$27.0K

$1,673 PAB 1,673

-6.57%

Average Monthly Net Salary (After Tax)

$825 MX$14.3K

$820 PAB 820

0.65%

20-Year Fixed Mortgage Interest Rate (Annual %)

11.45

6.3

81.75%

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

Last update for Mexico: May 30, 2026

Last update for Panama: June 2, 2026

Cost Breakdown

National rent averages: $530 in Mexico, $368 in Panama. Capital cities: $1,022 in Mexico City vs $1,157 in Panama City.

National salary averages: $772 in Mexico, $720 in Panama. Higher pay doesn't always mean more spending money – weigh income against local costs.

Cost Highlights

Rent is 44% higher in Mexico.

Dining out costs 44% more in Mexico.

Public transport is 120% more expensive in Mexico.

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

Mexico vs Panama: Cost of Living - Frequently Asked Questions

At $1,542 per month in Mexico and $882 in Panama, there's a 75% gap. Keep in mind it varies by city – the difference can be bigger or smaller depending on where you settle within each country.

Panama is simply cheaper day-to-day: 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 Mexico beats 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 Mexico, it works in regional areas but 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; Mexico may offer higher salaries, better infrastructure, and different cultural perks. Both attract large expat communities for different reasons.