Last update: Oct 2026

Cost of Living Comparison Between Montreal and Panama

Name: Panama
Address: PA

For one person, living is cheaper in Panama: $1,604 a month against $2,003 in Montreal, rent and utilities included – about $4,800 less a year. Rent and utilities account for about half of the difference.

99

Cost of Living Index in Montreal
Learn more

Montreal Living Index
77

Cost of Living Index in Panama
Learn more

Panama Living Index

Jump to prices

Montreal

🇨🇦 Canada

$2,003

/mo nomad

🇵🇦 Panama

$1,604

/mo nomad

😐 Solo nomad: Montreal is 28.3% more expensive than Panama without rent, and 24.9% more expensive with rent.

😐 Family of 3: Montreal is 31.7% more expensive than Panama without rent, and 23.9% more expensive with rent.

Meal at Budget Restaurant

$19.31 CA$27.52

$7.86 PAB 7.86

145.67%

Three-Course Dinner for Two, Mid-Range

$75.5 CA$108

$44.75 PAB 44.75

68.72%

Fast Food Meal (McDonalds, etc)

$10.63 CA$15.15

$7.89 PAB 7.89

34.73%

Cappuccino

$3.93 CA$5.60

$3.84 PAB 3.84

2.34%

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

$1.92 CA$2.73

$1.59 PAB 1.59

20.75%

Water (0.33 liter bottle)

$1.48 CA$2.11

$1.41 PAB 1.41

4.96%

Local Beer (0.5 liter draught)

$6.30 CA$8.98

$2.19 PAB 2.19

187.67%

Imported Beer (0.33 liter bottle)

$7.19 CA$10.24

$4.04 PAB 4.04

77.97%

Milk (1 liter)

$2.22 CA$3.17

$1.85 PAB 1.85

20.00%

White Bread (500g)

$3.06 CA$4.36

$2.32 PAB 2.32

31.90%

Rice (white) (1kg)

$2.94 CA$4.19

$2.99 PAB 2.99

-1.67%

Eggs

$3.53 CA$5.03

$2.48 PAB 2.48

42.34%

Local Cheese (1kg)

$13.19 CA$18.79

$12.28 PAB 12.28

7.41%

Chicken Fillets (1kg)

$11.24 CA$16.02

$6.94 PAB 6.94

61.96%

Beef Round Steak (1kg)

$13.81 CA$19.69

$10.11 PAB 10.11

36.60%

Apples (1kg)

$3.40 CA$4.85

$4.18 PAB 4.18

-18.66%

Banana (1kg)

$1.44 CA$2.06

$1.48 PAB 1.48

-2.70%

Oranges (1kg)

$3.26 CA$4.65

$3.65 PAB 3.65

-10.68%

Tomato (1kg)

$2.88 CA$4.10

$3.73 PAB 3.73

-22.79%

Potato (1kg)

$1.86 CA$2.65

$2.50 PAB 2.50

-25.60%

Onion (1kg)

$1.82 CA$2.60

$3.29 PAB 3.29

-44.68%

Lettuce (1 head)

$2.43 CA$3.46

$2.34 PAB 2.34

3.85%

Water (1.5 liter bottle)

$1.52 CA$2.17

$1.57 PAB 1.57

-3.18%

Cigarettes 20 Pack (Marlboro, Camel)

$11.45 CA$16.32

$6.08 PAB 6.08

88.32%

Wine (Bottle)

$10.36 CA$14.76

$9.88 PAB 9.88

4.86%

Local Beer (0.5 liter bottle)

$2.22 CA$3.16

$1.39 PAB 1.39

59.71%

Imported Beer (0.33 liter bottle)

$2.82 CA$4.02

$2.42 PAB 2.42

16.53%

One-way Ticket (Public Transport)

$2.58 CA$3.67

$0.43 PAB 0.43

500.00%

Public Transport Monthly Pass (Regular Price)

$76.9 CA$110

$20.96 PAB 20.96

266.84%

Taxi Start (Normal Tariff)

$3.25 CA$4.64

$2.43 PAB 2.43

33.74%

Taxi (Normal Tariff) (1km)

$1.48 CA$2.11

$1.82 PAB 1.82

-18.68%

Taxi 1hour Waiting (Normal Tariff)

$33.04 CA$47.09

$21.79 PAB 21.79

51.63%

Gasoline (1 liter)

$1.36 CA$1.94

$1.18 PAB 1.18

15.25%

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

$27.4K CA$39.1K

$21.5K PAB 21.5K

27.62%

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

$20.0K CA$28.5K

$22.2K PAB 22.2K

-9.99%

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

$76.1 CA$109

$119 PAB 119

-36.03%

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

$34.68 CA$49.43

$27.03 PAB 27.03

28.30%

Internet (50+ Mbps, Unlimited Data)

$42.69 CA$60.9

$47.70 PAB 47.70

-10.50%

Gym Membership (Monthly)

$28.94 CA$41.26

$48.94 PAB 48.94

-40.87%

Tennis Court (1 Hour on Weekend)

$20.33 CA$28.97

$30.16 PAB 30.16

-32.59%

Cinema Ticket

$11.21 CA$15.98

$7.84 PAB 7.84

42.98%

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

$505 CA$720

$536 PAB 536

-5.70%

International Primary School, 1 Child (Yearly)

$16.0K CA$22.8K

$8,069 PAB 8,069

98.42%

Jeans (Levis 501 Or Similar)

$58.5 CA$83.4

$53.5 PAB 53.5

9.37%

Summer Dress (H&M, Zara, etc)

$38.00 CA$54.2

$42.77 PAB 42.77

-11.15%

Sport Shoes (Adidas, Nike)

$92.7 CA$132

$87.4 PAB 87.4

6.08%

Men's Leather Business Shoes

$106 CA$151

$103 PAB 103

2.35%

1-bedroom Apartment, City Center (Monthly)

$1,240 CA$1,768

$944 PAB 944

31.32%

1-bedroom Apartment, Outside City Center (Monthly)

$986 CA$1,405

$697 PAB 697

41.55%

3-bedroom Apartment, City Center (Monthly)

$2,102 CA$2,996

$1,728 PAB 1,728

21.67%

3-bedroom Apartment, Outside City Center (Monthly)

$1,615 CA$2,302

$1,262 PAB 1,262

27.90%

Buy Apartment in City Center (m2)

$5,043 CA$7,188

$2,941 PAB 2,941

71.45%

Buy Apartment Outside City Center (m2)

$3,830 CA$5,459

$1,673 PAB 1,673

128.91%

Average Monthly Net Salary (After Tax)

$2,920 CA$4,163

$826 PAB 826

253.77%

20-Year Fixed Mortgage Interest Rate (Annual %)

4.46

6.37

-29.98%

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

Last update for Montreal: October 6, 2026

Last update for Panama: October 5, 2026

Monthly budget structure

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

Accommodation & Living

Montreal

$986 47.9%

Panama

$697 44% 29.4% $289

Groceries & Markets

Montreal

$344 16.7%

Panama

$302 19.1% 12% $41

Eating Out

Montreal

$293 14.2%

Panama

$164 10.3% 44.1% $129

Monthly Utilities & Internet

Montreal

$154 7.5%

Panama

$194 12.2% 26.2% $40

Clothing & Footwear

Montreal

$133 6.5%

Panama

$129 8.2% 2.7% $3.6

Getting Around

Montreal

$98 4.8%

Panama

$34 2.2% 65% $64

Sport & Entertainment

Montreal

$51 2.5%

Panama

$65 4.1% 25.8% $13

Good to know

🇨🇦 Montreal

🇵🇦 Panama

🕒 Local time

06:22 6:22 AM

05:22 5:22 AM

1 h behind Montreal

🌤 Weather

👥 Population

1,762,949

4,098,587

💱 Currency

Canadian Dollar CAD $

Panamanian Balboa PAB B/.

📈 Exchange rate

1 CAD = 0.702 USD

1 CAD = 0.626 EUR

1 PAB = 1 USD

1 PAB = 0.892 EUR

Exchange rates and currency converter

PAB, USD, EUR to CAD – Canadian Dollar Converter

🇺🇸 United States Dollar ($)

🇨🇦 Canadian Dollar ($)

Canadian Dollar exchange rates as of October 10, 2026: 1 USD = 1.43 CAD (1 CAD = 0.702 USD). 1 EUR = 1.6 CAD (1 CAD = 0.626 EUR).

Panamanian Balboa exchange rates as of October 10, 2026: 1 USD = 1 PAB (1 PAB = 1 USD). 1 EUR = 1.12 PAB (1 PAB = 0.892 EUR).

USD to CAD in detail →

On the map

Lowest

Highest

Between locations

Montreal Panama 4,100 km ≈ 6 h nonstop flight

From you

Montreal
Panama

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

Montreal vs other spots: cost of living compared

Similar cities

Warsaw

🇵🇱 Poland

Prague

🇨🇿 Czech Republic

Rome

🇮🇹 Italy

Doha

🇶🇦 Qatar

Ljubljana

🇸🇮 Slovenia

Gothenburg

🇸🇪 Sweden

Valencia

🇪🇸 Spain

Winnipeg

🇨🇦 Canada