Last update: Oct 2026

Cost of Living Comparison Between New Westminster and Panama City

For one person, living is cheaper in Panama City: $1,855 a month against $2,526 in New Westminster, rent and utilities included – about $8,100 less a year. Rent and utilities account for most of the difference.

123

Cost of Living Index in New Westminster
Learn more

New Westminster Living Index
90

Cost of Living Index in Panama City
Learn more

Panama City Living Index

Jump to prices

New Westminster

🇨🇦 Canada

$2,526

/mo nomad

Panama City

🇵🇦 Panama

$1,855

/mo nomad

Monthly Cost of Living

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

A single person spends $2,526 per month in New Westminster vs $1,855 in Panama City, rent included.

New Westminster $2,526
Panama City $1,855

A couple spends around $3,900 per month in New Westminster vs $2,804 in Panama City, rent included.

New Westminster $3,900
Panama City $2,804

A family of three spends $5,273 per month in New Westminster vs $3,753 in Panama City, rent included.

New Westminster $5,273
Panama City $3,753

New Westminster costs about 36% more than Panama City, and outside of rent the biggest gap is in transport.

Both New Westminster and Panama City sit above the global median – New Westminster by 87%, Panama City by 37%.

Meal at Budget Restaurant

$19.28 CA$27.41

$11.63 PAB 11.63

65.78%

Three-Course Dinner for Two, Mid-Range

$49.65 CA$70.6

$47.92 PAB 47.92

3.61%

Fast Food Meal (McDonalds, etc)

$10.12 CA$14.39

$7.96 PAB 7.96

27.14%

Cappuccino

$3.47 CA$4.93

$4.22 PAB 4.22

-17.77%

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

$1.85 CA$2.63

$2.01 PAB 2.01

-7.96%

Water (0.33 liter bottle)

$1.55 CA$2.20

$1.56 PAB 1.56

-0.64%

Local Beer (0.5 liter draught)

$5.77 CA$8.21

$3.39 PAB 3.39

70.21%

Imported Beer (0.33 liter bottle)

$5.63 CA$8.00

$3.94 PAB 3.94

42.89%

Milk (1 liter)

$1.76 CA$2.50

$1.85 PAB 1.85

-4.86%

White Bread (500g)

$2.34 CA$3.32

$2.56 PAB 2.56

-8.59%

Rice (white) (1kg)

$3.45 CA$4.90

$3.48 PAB 3.48

-0.86%

Eggs

$3.01 CA$4.28

$2.69 PAB 2.69

11.90%

Local Cheese (1kg)

$10.80 CA$15.35

$12.57 PAB 12.57

-14.08%

Chicken Fillets (1kg)

$15.33 CA$21.80

$6.83 PAB 6.83

124.45%

Beef Round Steak (1kg)

$26.67 CA$37.92

$10.58 PAB 10.58

152.08%

Apples (1kg)

$3.77 CA$5.37

$4.18 PAB 4.18

-9.81%

Banana (1kg)

$1.48 CA$2.10

$1.83 PAB 1.83

-19.13%

Oranges (1kg)

$3.60 CA$5.12

$4.20 PAB 4.20

-14.29%

Tomato (1kg)

$3.66 CA$5.20

$4.03 PAB 4.03

-9.18%

Potato (1kg)

$2.33 CA$3.32

$3.48 PAB 3.48

-33.05%

Onion (1kg)

$2.21 CA$3.15

$4.22 PAB 4.22

-47.63%

Lettuce (1 head)

$2.33 CA$3.31

$2.41 PAB 2.41

-3.32%

Water (1.5 liter bottle)

$1.80 CA$2.57

$1.69 PAB 1.69

6.51%

Cigarettes 20 Pack (Marlboro, Camel)

$15.33 CA$21.80

$6.14 PAB 6.14

149.67%

Wine (Bottle)

$10.63 CA$15.12

$11.30 PAB 11.30

-5.93%

Local Beer (0.5 liter bottle)

$2.02 CA$2.87

$1.42 PAB 1.42

42.25%

Imported Beer (0.33 liter bottle)

$2.72 CA$3.87

$2.73 PAB 2.73

-0.37%

One-way Ticket (Public Transport)

$2.52 CA$3.58

$0.33 PAB 0.33

663.64%

Public Transport Monthly Pass (Regular Price)

$90.3 CA$128

$21.23 PAB 21.23

325.20%

Taxi Start (Normal Tariff)

$2.05 CA$2.91

$2.52 PAB 2.52

-18.65%

Taxi (Normal Tariff) (1km)

$1.72 CA$2.44

$1.86 PAB 1.86

-7.53%

Taxi 1hour Waiting (Normal Tariff)

$22.76 CA$32.35

$21.78 PAB 21.78

4.50%

Gasoline (1 liter)

$1.26 CA$1.79

$1.25 PAB 1.25

0.80%

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

$23.9K CA$33.9K

$21.2K PAB 21.2K

12.33%

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

$19.0K CA$27.0K

$21.0K PAB 21.0K

-9.66%

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

$139 CA$197

$130 PAB 130

6.84%

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

$42.09 CA$59.9

$28.13 PAB 28.13

49.63%

Internet (50+ Mbps, Unlimited Data)

$63.0 CA$89.6

$48.21 PAB 48.21

30.68%

Gym Membership (Monthly)

$32.42 CA$46.09

$45.78 PAB 45.78

-29.18%

Tennis Court (1 Hour on Weekend)

$17.27 CA$24.55

$34.92 PAB 34.92

-50.54%

Cinema Ticket

$11.94 CA$16.97

$8.67 PAB 8.67

37.72%

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

$758 CA$1,078

$544 PAB 544

39.34%

International Primary School, 1 Child (Yearly)

$8,536 CA$12.1K

$9,697 PAB 9,697

-11.98%

Jeans (Levis 501 Or Similar)

$52.3 CA$74.3

$66.8 PAB 66.8

-21.69%

Summer Dress (H&M, Zara, etc)

$41.77 CA$59.4

$49.14 PAB 49.14

-15.00%

Sport Shoes (Adidas, Nike)

$77.5 CA$110

$93.9 PAB 93.9

-17.38%

Men's Leather Business Shoes

$96.6 CA$137

$112 PAB 112

-13.38%

1-bedroom Apartment, City Center (Monthly)

$1,548 CA$2,201

$1,257 PAB 1,257

23.13%

1-bedroom Apartment, Outside City Center (Monthly)

$1,319 CA$1,876

$875 PAB 875

50.77%

3-bedroom Apartment, City Center (Monthly)

$2,841 CA$4,039

$2,155 PAB 2,155

31.82%

3-bedroom Apartment, Outside City Center (Monthly)

$2,620 CA$3,725

$1,564 PAB 1,564

67.55%

Buy Apartment in City Center (m2)

$4,810 CA$6,839

$3,122 PAB 3,122

54.06%

Buy Apartment Outside City Center (m2)

$4,025 CA$5,723

$1,709 PAB 1,709

135.48%

Average Monthly Net Salary (After Tax)

$2,989 CA$4,250

$916 PAB 916

226.34%

20-Year Fixed Mortgage Interest Rate (Annual %)

4.72

6.39

-26.13%

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

Last update for New Westminster: 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

New Westminster

$1.3K 52.2%

Panama City

$875 47.2% 33.7% $444

Groceries & Markets

New Westminster

$396 15.7%

Panama City

$325 17.5% 17.8% $70

Eating Out

New Westminster

$280 11.1%

Panama City

$207 11.1% 26.2% $73

Monthly Utilities & Internet

New Westminster

$244 9.7%

Panama City

$206 11.1% 15.4% $38

Clothing & Footwear

New Westminster

$121 4.8%

Panama City

$145 7.8% 19.8% $24

Getting Around

New Westminster

$111 4.4%

Panama City

$34 1.9% 69% $77

Sport & Entertainment

New Westminster

$56 2.2%

Panama City

$63 3.4% 12.1% $6.8

Cost Breakdown

A central one-bedroom costs $1,548 in New Westminster versus $1,257 in Panama City. Rent is usually the largest line item in a monthly budget, so the gap here sets the tone for the overall comparison.

Salaries run about 226% higher in New Westminster, which partly offsets the higher cost of living there. Purchasing power depends on which expenses matter most to you.

A mid-range dinner for two costs $50.0 in New Westminster versus $48.00 in Panama City. Monthly groceries follow the same trend: $396 vs $325 – making Panama City the more affordable choice for daily food spending.

Good to know

🇨🇦 New Westminster

🇵🇦 Panama City

🕒 Local time

15:47 3:47 PM

17:47 5:47 PM

2 h ahead of New Westminster

🌤 Weather

👥 Population

58,000

1,086,990 Capital

💱 Currency

Canadian Dollar CAD $

Panamanian Balboa PAB B/.

📈 Exchange rate

1 CAD = 0.703 USD

1 CAD = 0.628 EUR

1 PAB = 1 USD

1 PAB = 0.893 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 14, 2026: 1 USD = 1.42 CAD (1 CAD = 0.703 USD). 1 EUR = 1.59 CAD (1 CAD = 0.628 EUR).

Panamanian Balboa exchange rates as of October 14, 2026: 1 USD = 1 PAB (1 PAB = 1 USD). 1 EUR = 1.12 PAB (1 PAB = 0.893 EUR).

USD to CAD in detail →

On the map

Lowest

Highest

Between locations

New Westminster Panama City 6,010 km ≈ 8 h nonstop flight

From you

New Westminster
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

New Westminster vs Panama City: Cost of Living - Frequently Asked Questions

New Westminster costs about 36% more than Panama City, and outside of rent the gap comes mainly from transport. That's enough to noticeably affect everyday spending and lifestyle for anyone choosing between the two.

For a comfortable life, plan on about $3,790 per month in New Westminster and $2,783 in Panama City. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Rent is clearly cheaper in Panama City, especially for central apartments. Housing is actually the single biggest factor behind the overall cost gap between these two cities.

Kindergarten costs $758 per month in New Westminster and $544 in Panama City. For families with young kids, this one expense can tip the scales when choosing between the two cities.

Groceries cost about 22% more in New Westminster, though it depends on what you buy. Local produce may be comparable; imported and premium items show the biggest price gap.

A $2,500 monthly budget goes further in Panama City, where all-in costs run around $1,855, than in New Westminster at $2,526. In Panama City it covers expenses comfortably, while in New Westminster it requires careful planning or may not stretch far enough.

For digital nomads, it depends on budget. Panama City costs $1,855 versus $2,526 in New Westminster. Both have workable remote work infrastructure, but the cost gap matters when income varies month to month.

Both have safer and rougher neighborhoods, but overall safety is comparable to other large cities. Neighborhood choice matters more than the city-level comparison – central, well-trafficked areas feel secure in both.

If budget matters most, go with Panama City. If higher salaries, better infrastructure, or specific career opportunities are the priority, New Westminster makes more sense. Both are solid long-term options with distinct trade-offs.