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 $2,737 per month in Panama City, FL vs $1,013 in Medellin, rent included.

A couple spends around $3,627 per month in Panama City, FL vs $1,602 in Medellin, rent included.

A family of three spends $4,517 per month in Panama City, FL vs $2,192 in Medellin, rent included.

Panama City, FL costs about 170% more than Medellin, driven mainly by Eating Out.

Panama City, FL sits 104% above the global median, while Medellin is 24% below – they fall on opposite sides of the world average.

Meal at Budget Restaurant

$18.49 $18.49

$5.99 COP 21.4K

208.68%

Three-Course Dinner for Two, Mid-Range

$54.2 $54.2

$32.86 COP 117.2K

64.82%

Fast Food Meal (McDonalds, etc)

$10.68 $10.68

$7.09 COP 25.3K

50.63%

Cappuccino

$4.94 $4.94

$1.71 COP 6,105

188.89%

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

$2.70 $2.70

$1.10 COP 3,918

145.45%

Water (0.33 liter bottle)

$2.16 $2.16

$0.78 COP 2,776

176.92%

Local Beer (0.5 liter draught)

$4.87 $4.87

$1.68 COP 5,987

189.88%

Imported Beer (0.33 liter bottle)

$6.63 $6.63

$3.07 COP 10.9K

115.96%

Milk (1 liter)

$0.94 $0.94

$1.09 COP 3,899

-13.76%

White Bread (500g)

$3.20 $3.20

$1.26 COP 4,500

153.97%

Rice (white) (1kg)

$2.49 $2.49

$1.38 COP 4,914

80.43%

Eggs

$3.28 $3.28

$2.19 COP 7,813

49.77%

Local Cheese (1kg)

$10.54 $10.54

$4.40 COP 15.7K

139.55%

Chicken Fillets (1kg)

$11.49 $11.49

$5.63 COP 20.1K

104.09%

Beef Round Steak (1kg)

$15.28 $15.28

$8.89 COP 31.7K

71.88%

Apples (1kg)

$3.44 $3.44

$2.34 COP 8,334

47.01%

Banana (1kg)

$1.57 $1.57

$1.06 COP 3,771

48.11%

Oranges (1kg)

$2.96 $2.96

$1.50 COP 5,365

97.33%

Tomato (1kg)

$4.13 $4.13

$1.38 COP 4,915

199.28%

Potato (1kg)

$3.06 $3.06

$1.15 COP 4,104

166.09%

Onion (1kg)

$2.85 $2.85

$1.16 COP 4,148

145.69%

Lettuce (1 head)

$2.05 $2.05

$0.89 COP 3,176

130.34%

Water (1.5 liter bottle)

$1.99 $1.99

$0.84 COP 2,992

136.90%

Cigarettes 20 Pack (Marlboro, Camel)

$8.11 $8.11

$2.28 COP 8,131

255.70%

Wine (Bottle)

$13.63 $13.63

$10.64 COP 37.9K

28.10%

Local Beer (0.5 liter bottle)

$1.75 $1.75

$1.20 COP 4,276

45.83%

Imported Beer (0.33 liter bottle)

$3.09 $3.09

$2.47 COP 8,809

25.10%

One-way Ticket (Public Transport)

$1.53 $1.53

$0.86 COP 3,051

77.91%

Public Transport Monthly Pass (Regular Price)

$136 $136

$41.40 COP 147.6K

229.57%

Taxi Start (Normal Tariff)

$2.52 $2.52

$1.47 COP 5,255

71.43%

Taxi (Normal Tariff) (1km)

$1.57 $1.57

$1.96 COP 6,997

-19.90%

Taxi 1hour Waiting (Normal Tariff)

$25.51 $25.51

$7.74 COP 27.6K

229.59%

Gasoline (1 liter)

$0.82 $0.82

$0.95 COP 3,403

-13.68%

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

$22.7K $22.7K

$18.1K COP 64.6M

25.14%

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

$24.8K $24.8K

$26.5K COP 94.4M

-6.48%

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

$218 $218

$82.3 COP 293.2K

164.52%

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

$43.26 $43.26

$9.50 COP 33.9K

355.37%

Internet (50+ Mbps, Unlimited Data)

$65.7 $65.7

$24.23 COP 86.4K

171.07%

Gym Membership (Monthly)

$40.22 $40.22

$25.89 COP 92.3K

55.35%

Tennis Court (1 Hour on Weekend)

$19.00 COP 67.7K

Cinema Ticket

$13.17 $13.17

$3.93 COP 14.0K

235.11%

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

$516 $516

$309 COP 1.1M

66.64%

International Primary School, 1 Child (Yearly)

$8,028 $8,028

$5,965 COP 21.3M

34.58%

Jeans (Levis 501 Or Similar)

$39.63 $39.63

$58.7 COP 209.1K

-32.44%

Summer Dress (H&M, Zara, etc)

$42.24 $42.24

$32.35 COP 115.3K

30.57%

Sport Shoes (Adidas, Nike)

$61.0 $61.0

$103 COP 365.7K

-40.58%

Men's Leather Business Shoes

$73.6 $73.6

$108 COP 386.5K

-32.14%

1-bedroom Apartment, City Center (Monthly)

$1,673 $1,673

$476 COP 1.7M

251.28%

1-bedroom Apartment, Outside City Center (Monthly)

$1,512 $1,512

$379 COP 1.4M

299.28%

3-bedroom Apartment, City Center (Monthly)

$2,335 $2,335

$838 COP 3.0M

178.52%

3-bedroom Apartment, Outside City Center (Monthly)

$1,761 $1,761

$724 COP 2.6M

143.26%

Buy Apartment in City Center (m2)

$3,702 $3,702

$2,791 COP 9.9M

32.67%

Buy Apartment Outside City Center (m2)

$3,630 $3,630

$1,211 COP 4.3M

199.70%

Average Monthly Net Salary (After Tax)

$4,085 $4,085

$512 COP 1.8M

698.10%

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: May 31, 2026

Last update for Medellin: May 31, 2026

Cost Breakdown

A central one-bedroom costs $1,673 in Panama City, FL versus $476 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 698% 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 $54.0 in Panama City, FL versus $33.00 in Medellin. Monthly groceries follow the same trend: $348 vs $188 – 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 170%, 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 $4,106 per month in Panama City, FL and $1,519 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 $54.0 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 $2,737 in Panama City, FL and $1,013 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 $1,013, than in Panama City, FL at $2,737. 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.