Cost of Living Comparison Between Panama City, FL and Medellin Cost of Living Comparison Between Panama City, FL and Medellin

Monthly Cost of Living

A single person spends $2,748 per month in Panama City, FL vs $1,031 in Medellin, rent included.

A couple spends around $3,572 per month in Panama City, FL vs $1,599 in Medellin, rent included.

A family of three spends $4,396 per month in Panama City, FL vs $2,167 in Medellin, rent included.

Panama City, FL costs about 167% more than Medellin, driven mainly by Eating Out.

Panama City, FL sits 106% above the global median, while Medellin is 23% below – they fall on opposite sides of the world average.

Meal at Budget Restaurant

$19.04 $19.04

$6.16 COP 20.1K

209.09%

Three-Course Dinner for Two, Mid-Range

$54.7 $54.7

$32.60 COP 106.1K

67.91%

Fast Food Meal (McDonalds, etc)

$10.53 $10.53

$7.34 COP 23.9K

43.46%

Cappuccino

$4.77 $4.77

$1.72 COP 5,600

177.33%

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

$2.66 $2.66

$1.05 COP 3,420

153.33%

Water (0.33 liter bottle)

$2.14 $2.14

$0.77 COP 2,515

177.92%

Local Beer (0.5 liter draught)

$4.90 $4.90

$1.69 COP 5,488

189.94%

Imported Beer (0.33 liter bottle)

$6.72 $6.72

$3.17 COP 10.3K

111.99%

Milk (1 liter)

$0.92 $0.92

$1.05 COP 3,423

-12.38%

White Bread (500g)

$3.34 $3.34

$1.30 COP 4,236

156.92%

Rice (white) (1kg)

$2.60 $2.60

$1.40 COP 4,544

85.71%

Eggs

$3.13 $3.13

$2.16 COP 7,047

44.91%

Local Cheese (1kg)

$10.80 $10.80

$4.39 COP 14.3K

146.01%

Chicken Fillets (1kg)

$11.34 $11.34

$5.88 COP 19.1K

92.86%

Beef Round Steak (1kg)

$14.88 $14.88

$8.64 COP 28.1K

72.22%

Apples (1kg)

$3.50 $3.50

$2.28 COP 7,426

53.51%

Banana (1kg)

$1.59 $1.59

$1.11 COP 3,604

43.24%

Oranges (1kg)

$2.89 $2.89

$1.53 COP 4,983

88.89%

Tomato (1kg)

$4.22 $4.22

$1.35 COP 4,410

212.59%

Potato (1kg)

$3.18 $3.18

$1.13 COP 3,674

181.42%

Onion (1kg)

$2.81 $2.81

$1.13 COP 3,692

148.67%

Lettuce (1 head)

$2.11 $2.11

$0.85 COP 2,753

148.24%

Water (1.5 liter bottle)

$2.04 $2.04

$0.91 COP 2,975

124.18%

Cigarettes 20 Pack (Marlboro, Camel)

$7.89 $7.89

$2.34 COP 7,630

237.18%

Wine (Bottle)

$13.63 $13.63

$12.37 COP 40.3K

10.19%

Local Beer (0.5 liter bottle)

$1.77 $1.77

$1.20 COP 3,909

47.50%

Imported Beer (0.33 liter bottle)

$2.98 $2.98

$2.49 COP 8,104

19.68%

One-way Ticket (Public Transport)

$1.49 $1.49

$0.84 COP 2,728

77.38%

Public Transport Monthly Pass (Regular Price)

$133 $133

$40.57 COP 132.1K

227.56%

Taxi Start (Normal Tariff)

$2.56 $2.56

$1.42 COP 4,623

80.28%

Taxi (Normal Tariff) (1km)

$1.59 $1.59

$1.92 COP 6,235

-17.19%

Taxi 1hour Waiting (Normal Tariff)

$25.89 $25.89

$7.66 COP 24.9K

237.99%

Gasoline (1 liter)

$0.86 $0.86

$0.99 COP 3,223

-13.13%

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

$22.9K $22.9K

$18.0K COP 58.7M

26.88%

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

$24.2K $24.2K

$26.6K COP 86.7M

-9.01%

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

$221 $221

$80.8 COP 263.1K

173.86%

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

$43.77 $43.77

$9.95 COP 32.4K

339.90%

Internet (50+ Mbps, Unlimited Data)

$67.9 $67.9

$24.18 COP 78.7K

180.89%

Gym Membership (Monthly)

$39.58 $39.58

$25.08 COP 81.7K

57.81%

Tennis Court (1 Hour on Weekend)

$19.15 COP 62.3K

Cinema Ticket

$13.24 $13.24

$3.98 COP 13.0K

232.66%

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

$526 $526

$305 COP 993.5K

72.30%

International Primary School, 1 Child (Yearly)

$7,846 $7,846

$6,059 COP 19.7M

29.51%

Jeans (Levis 501 Or Similar)

$39.63 $39.63

$58.1 COP 189.2K

-31.83%

Summer Dress (H&M, Zara, etc)

$43.16 $43.16

$32.20 COP 104.8K

34.04%

Sport Shoes (Adidas, Nike)

$60.1 $60.1

$101 COP 327.9K

-40.30%

Men's Leather Business Shoes

$76.0 $76.0

$108 COP 350.8K

-29.43%

1-bedroom Apartment, City Center (Monthly)

$1,680 $1,680

$477 COP 1.6M

252.54%

1-bedroom Apartment, Outside City Center (Monthly)

$1,524 $1,524

$376 COP 1.2M

305.15%

3-bedroom Apartment, City Center (Monthly)

$2,314 $2,314

$845 COP 2.7M

173.97%

3-bedroom Apartment, Outside City Center (Monthly)

$1,744 $1,744

$730 COP 2.4M

138.80%

Buy Apartment in City Center (m2)

$3,679 $3,679

$3,215 COP 10.5M

14.43%

Buy Apartment Outside City Center (m2)

$3,719 $3,719

$1,372 COP 4.5M

171.03%

Average Monthly Net Salary (After Tax)

$4,069 $4,069

$617 COP 2.0M

559.63%

20-Year Fixed Mortgage Interest Rate (Annual %)

6.43

13.43

-52.12%

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

Last update for Panama City, FL: July 12, 2026

Last update for Medellin: July 12, 2026

Cost Breakdown

A central one-bedroom costs $1,680 in Panama City, FL versus $477 in Medellin. 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 560% higher in Panama City, FL, 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 $55.0 in Panama City, FL versus $33.00 in Medellin. Monthly groceries follow the same trend: $349 vs $193 – making Medellin the more affordable choice for daily food spending.

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

Panama City, FL vs Medellin: Cost of Living - Frequently Asked Questions

Yes – Panama City, FL is pricier by about 167%, and the gap shows up most in Eating Out. It's not just housing either; the difference applies across most spending categories.

For a comfortable life, plan on about $4,122 per month in Panama City, FL and $1,546 in Medellin. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

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

A mid-range dinner for two costs $55.0 in Panama City, FL and $33.00 in Medellin. That's a good indicator of the overall restaurant and café pricing gap between the two cities.

Monthly expenses with rent come to $2,748 in Panama City, FL and $1,031 in Medellin. The difference isn't just one category – it shows up across housing, food, transport, and services.

A $1,500 monthly budget goes further in Medellin, where all-in costs run around $1,031, than in Panama City, FL at $2,748. In Medellin it covers expenses comfortably, while in Panama City, FL it requires careful planning or may not stretch far enough.

Families tend to lean toward Medellin – lower housing and cheaper childcare make a real difference, especially on a single income or when paying for private education.

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