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 $2,593 per month in Panama City, FL vs $1,641 in Medellin, rent included.

A couple spends around $3,574 per month in Panama City, FL vs $2,447 in Medellin, rent included.

A family of three spends $4,555 per month in Panama City, FL vs $3,253 in Medellin, rent included.

Panama City, FL costs about 58% more than Medellin, driven mainly by Eating Out.

Both Panama City, FL and Medellin sit above the global median – Panama City, FL by 88%, Medellin by 19%.

Meal at Budget Restaurant

$17.66 $17.66

$8.04 COP 24.8K

119.65%

Three-Course Dinner for Two, Mid-Range

$80.6 $80.6

$48.29 COP 148.7K

66.97%

Fast Food Meal (McDonalds, etc)

$11.96 $11.96

$9.42 COP 29.0K

26.96%

Cappuccino

$4.96 $4.96

$2.94 COP 9,045

68.71%

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

$2.64 $2.64

$1.86 COP 5,738

41.94%

Water (0.33 liter bottle)

$2.02 $2.02

$1.46 COP 4,481

38.36%

Local Beer (0.5 liter draught)

$4.93 $4.93

$3.21 COP 9,887

53.58%

Imported Beer (0.33 liter bottle)

$6.90 $6.90

$5.71 COP 17.6K

20.84%

Milk (1 liter)

$0.93 $0.93

$1.44 COP 4,431

-35.42%

White Bread (500g)

$3.63 $3.63

$2.40 COP 7,393

51.25%

Rice (white) (1kg)

$1.93 $1.93

$1.70 COP 5,230

13.53%

Eggs

$2.90 $2.90

$2.89 COP 8,901

0.35%

Local Cheese (1kg)

$11.55 $11.55

$10.06 COP 31.0K

14.81%

Chicken Fillets (1kg)

$9.99 $9.99

$9.97 COP 30.7K

0.20%

Beef Round Steak (1kg)

$13.86 $13.86

$14.20 COP 43.7K

-2.39%

Apples (1kg)

$4.17 $4.17

$3.98 COP 12.3K

4.77%

Banana (1kg)

$1.56 $1.56

$1.58 COP 4,880

-1.27%

Oranges (1kg)

$4.32 $4.32

$2.15 COP 6,627

100.93%

Tomato (1kg)

$4.47 $4.47

$2.30 COP 7,082

94.35%

Potato (1kg)

$3.80 $3.80

$2.00 COP 6,172

90.00%

Onion (1kg)

$3.55 $3.55

$1.51 COP 4,648

135.10%

Lettuce (1 head)

$1.70 $1.70

$1.20 COP 3,703

41.67%

Water (1.5 liter bottle)

$2.25 $2.25

$1.28 COP 3,948

75.78%

Cigarettes 20 Pack (Marlboro, Camel)

$9.14 $9.14

$3.84 COP 11.8K

138.02%

Wine (Bottle)

$11.98 $11.98

$14.01 COP 43.1K

-14.49%

Local Beer (0.5 liter bottle)

$1.69 $1.69

$1.71 COP 5,259

-1.17%

Imported Beer (0.33 liter bottle)

$1.95 $1.95

$2.74 COP 8,444

-28.83%

One-way Ticket (Public Transport)

$1.53 $1.53

$1.25 COP 3,836

22.40%

Public Transport Monthly Pass (Regular Price)

$77.9 COP 239.9K

Taxi Start (Normal Tariff)

$2.53 $2.53

$1.31 COP 4,018

93.13%

Taxi (Normal Tariff) (1km)

$1.59 $1.59

$2.17 COP 6,684

-26.73%

Taxi 1hour Waiting (Normal Tariff)

$51.0 $51.0

$8.29 COP 25.5K

515.20%

Gasoline (1 liter)

$0.87 $0.87

$1.36 COP 4,174

-36.03%

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

$37.4K $37.4K

$27.5K COP 84.6M

36.08%

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

$25.4K $25.4K

$36.5K COP 112.5M

-30.53%

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

$174 $174

$169 COP 519.5K

2.91%

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

$43.46 $43.46

$13.57 COP 41.8K

220.27%

Internet (50+ Mbps, Unlimited Data)

$59.0 $59.0

$28.32 COP 87.2K

108.40%

Gym Membership (Monthly)

$39.44 $39.44

$45.71 COP 140.8K

-13.72%

Tennis Court (1 Hour on Weekend)

$17.22 COP 53.0K

Cinema Ticket

$14.64 $14.64

$6.65 COP 20.5K

120.15%

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

$972 $972

$803 COP 2.5M

21.00%

International Primary School, 1 Child (Yearly)

$13.9K $13.9K

$9,190 COP 28.3M

51.46%

Jeans (Levis 501 Or Similar)

$60.2 $60.2

$87.4 COP 269.0K

-31.11%

Summer Dress (H&M, Zara, etc)

$35.26 $35.26

$59.4 COP 182.8K

-40.61%

Sport Shoes (Adidas, Nike)

$99.2 $99.2

$139 COP 427.7K

-28.60%

Men's Leather Business Shoes

$107 $107

$102 COP 314.2K

4.95%

1-bedroom Apartment, City Center (Monthly)

$1,673 $1,673

$1,071 COP 3.3M

56.21%

1-bedroom Apartment, Outside City Center (Monthly)

$1,498 $1,498

$653 COP 2.0M

129.47%

3-bedroom Apartment, City Center (Monthly)

$2,746 $2,746

$1,925 COP 5.9M

42.68%

3-bedroom Apartment, Outside City Center (Monthly)

$1,878 $1,878

$1,048 COP 3.2M

79.24%

Buy Apartment in City Center (m2)

$3,709 $3,709

$4,123 COP 12.7M

-10.05%

Buy Apartment Outside City Center (m2)

$3,688 $3,688

$1,697 COP 5.2M

117.27%

Average Monthly Net Salary (After Tax)

$3,992 $3,992

$655 COP 2.0M

509.47%

20-Year Fixed Mortgage Interest Rate (Annual %)

6.1

10.94

-44.24%

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

Last update for Panama City, FL: September 7, 2026

Last update for Medellin: September 7, 2026

Cost Breakdown

A central one-bedroom costs $1,673 in Panama City, FL versus $1,071 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 509% 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 $81.0 in Panama City, FL versus $48.00 in Medellin. Monthly groceries follow the same trend: $349 vs $300 – 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 58%, 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 $3,889 per month in Panama City, FL and $2,462 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 $81.0 in Panama City, FL and $48.00 in Medellin. That's a good indicator of the overall restaurant and café pricing gap between the two cities.

Groceries cost about 16% more in Panama City, FL, 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 Medellin, where all-in costs run around $1,641, than in Panama City, FL at $2,593. 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.