Last update: Oct 2026

Cost of Living Comparison Between Panama City and Altos

For one person, living is cheaper in Altos: $252 a month against $1,837 in Panama City, rent and utilities included – about $19,000 less a year. Rent and utilities account for most of the difference.

90

Cost of Living Index in Panama City
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Panama City Living Index

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Panama City

🇵🇦 Panama

$1,837

/mo nomad

Altos

🇵🇾 Paraguay

$252

/mo nomad

Monthly Cost of Living

How much you'll spend in Panama City and in Altos

Real prices from locals and on-the-ground checks – rent, groceries, transit and the daily extras. Here's what a month in Panama City and in Altos actually costs, broken down by who's living it.

Monthly costs for one person with rent: $1,837 in Panama City versus $252 in Altos.

Panama City $1,837
Altos $252

Estimated couple costs with rent: $2,825 in Panama City versus $375 in Altos.

Panama City $2,825
Altos $375

Monthly costs for a family of three with rent: $3,812 in Panama City versus $498 in Altos.

Panama City $3,812
Altos $498

Living in Panama City is roughly 628% more expensive than in Altos, and outside of rent the biggest gap is in eating out.

The two cities straddle the global median: Panama City is 37% above, Altos is 81% below.

Meal at Budget Restaurant

$11.34 PAB 11.34

Three-Course Dinner for Two, Mid-Range

$47.85 PAB 47.85

Fast Food Meal (McDonalds, etc)

$8.07 PAB 8.07

Cappuccino

$4.02 PAB 4.02

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

$1.94 PAB 1.94

Water (0.33 liter bottle)

$1.62 PAB 1.62

Local Beer (0.5 liter draught)

$3.26 PAB 3.26

Imported Beer (0.33 liter bottle)

$3.99 PAB 3.99

Milk (1 liter)

$1.83 PAB 1.83

$0.49 ₲2,760

273.47%

White Bread (500g)

$2.57 PAB 2.57

$0.85 ₲4,814

202.35%

Rice (white) (1kg)

$3.33 PAB 3.33

$0.99 ₲5,610

236.36%

Eggs

$2.69 PAB 2.69

$1.89 ₲10.7K

42.33%

Local Cheese (1kg)

$12.33 PAB 12.33

$6.08 ₲34.5K

102.80%

Chicken Fillets (1kg)

$6.69 PAB 6.69

$3.53 ₲20.0K

89.52%

Beef Round Steak (1kg)

$10.40 PAB 10.40

$5.42 ₲30.8K

91.88%

Apples (1kg)

$4.16 PAB 4.16

$2.34 ₲13.3K

77.78%

Banana (1kg)

$1.84 PAB 1.84

$1.27 ₲7,217

44.88%

Oranges (1kg)

$4.18 PAB 4.18

$1.36 ₲7,738

207.35%

Tomato (1kg)

$4.08 PAB 4.08

$1.85 ₲10.5K

120.54%

Potato (1kg)

$3.50 PAB 3.50

$1.17 ₲6,637

199.15%

Onion (1kg)

$4.37 PAB 4.37

$1.34 ₲7,629

226.12%

Lettuce (1 head)

$2.34 PAB 2.34

$1.21 ₲6,871

93.39%

Water (1.5 liter bottle)

$1.75 PAB 1.75

$0.87 ₲4,924

101.15%

Cigarettes 20 Pack (Marlboro, Camel)

$6.06 PAB 6.06

$0.96 ₲5,443

531.25%

Wine (Bottle)

$11.72 PAB 11.72

$7.89 ₲44.8K

48.54%

Local Beer (0.5 liter bottle)

$1.37 PAB 1.37

$0.69 ₲3,908

98.55%

Imported Beer (0.33 liter bottle)

$2.84 PAB 2.84

$0.77 ₲4,370

268.83%

One-way Ticket (Public Transport)

$0.36 PAB 0.36

$0.38 ₲2,163

-5.26%

Public Transport Monthly Pass (Regular Price)

$20.96 PAB 20.96

$11.91 ₲67.6K

75.99%

Taxi Start (Normal Tariff)

$2.52 PAB 2.52

$1.68 ₲9,529

50.00%

Taxi (Normal Tariff) (1km)

$1.79 PAB 1.79

$0.73 ₲4,140

145.21%

Taxi 1hour Waiting (Normal Tariff)

$22.01 PAB 22.01

Gasoline (1 liter)

$1.25 PAB 1.25

$1.18 ₲6,684

5.93%

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

$21.5K PAB 21.5K

$19.0K ₲108.1M

13.06%

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

$21.2K PAB 21.2K

$23.2K ₲131.7M

-8.66%

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

$131 PAB 131

$35.18 ₲199.7K

272.88%

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

$27.68 PAB 27.68

$7.84 ₲44.5K

253.06%

Internet (50+ Mbps, Unlimited Data)

$48.59 PAB 48.59

$14.12 ₲80.1K

244.12%

Gym Membership (Monthly)

$46.11 PAB 46.11

Tennis Court (1 Hour on Weekend)

$35.01 PAB 35.01

Cinema Ticket

$8.73 PAB 8.73

$3.49 ₲19.8K

150.14%

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

$551 PAB 551

International Primary School, 1 Child (Yearly)

$9,560 PAB 9,560

Jeans (Levis 501 Or Similar)

$67.6 PAB 67.6

$24.94 ₲141.6K

171.09%

Summer Dress (H&M, Zara, etc)

$48.03 PAB 48.03

Sport Shoes (Adidas, Nike)

$94.9 PAB 94.9

Men's Leather Business Shoes

$113 PAB 113

1-bedroom Apartment, City Center (Monthly)

$1,238 PAB 1,238

1-bedroom Apartment, Outside City Center (Monthly)

$873 PAB 873

3-bedroom Apartment, City Center (Monthly)

$2,197 PAB 2,197

3-bedroom Apartment, Outside City Center (Monthly)

$1,538 PAB 1,538

Buy Apartment in City Center (m2)

$3,116 PAB 3,116

$1,524 ₲8.6M

104.49%

Buy Apartment Outside City Center (m2)

$1,725 PAB 1,725

$1,014 ₲5.8M

70.14%

Average Monthly Net Salary (After Tax)

$934 PAB 934

$507 ₲2.9M

84.36%

20-Year Fixed Mortgage Interest Rate (Annual %)

6.39

-36.10%

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

Last update for Panama City: October 3, 2026

Last update for Altos: October 5, 2026

Monthly budget structure

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

Accommodation & Living

Panama City

$873 47.2%

Altos

–

Groceries & Markets

Panama City

$324 17.5%

Altos

–

Monthly Utilities & Internet

Panama City

$207 11.2%

Altos

–

Eating Out

Panama City

$202 10.9%

Altos

–

Clothing & Footwear

Panama City

$146 7.9%

Altos

–

Sport & Entertainment

Panama City

$64 3.4%

Altos

–

Getting Around

Panama City

$34 1.8%

Altos

–

Cost Breakdown

Panama City pays 84% more on average. The extra income cushions the higher costs, though housing choices and lifestyle decide how much of the gap is truly closed.

Good to know

🇵🇦 Panama City

🇵🇾 Altos

🕒 Local time

06:21 6:21 AM

08:21 8:21 AM

2 h ahead of Panama City

🌤 Weather

👥 Population

1,086,990 Capital

4,763

💱 Currency

Panamanian Balboa PAB B/.

Paraguayan Guarani PYG ₲

📈 Exchange rate

1 PAB = 1 USD

1 PAB = 0.892 EUR

10,000 PYG = 1.76 USD

10,000 PYG = 1.57 EUR

Exchange rates and currency converter

PYG, USD, EUR to PAB – Panamanian Balboa Converter

🇺🇸 United States Dollar ($)

🇵🇦 Panamanian Balboa (B/.)

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).

Paraguayan Guarani exchange rates as of October 10, 2026: 1 USD = 5,676 PYG (10,000 PYG = 1.76 USD). 1 EUR = 6,361 PYG (10,000 PYG = 1.57 EUR).

USD to PAB in detail →

On the map

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Highest

Between locations

Panama City Altos 4,510 km ≈ 6 h nonstop flight

From you

Panama City
Altos

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

Panama City vs Altos: Cost of Living - Frequently Asked Questions

Altos is cheaper overall, especially in groceries, eating out, and clothing. The 628% gap adds up to real monthly savings that compound significantly over time.

Average pay runs 84% higher in Panama City, which matters when comparing affordability. Whether that higher income actually nets you more depends on your spending habits and housing choices.

Supermarket bills run roughly 112% higher in Panama City. For households that cook at home regularly, that difference adds up over a month.

A monthly transit pass in Altos runs roughly 76% less than in Panama City. Both cities have functional networks, but the price difference matters if you're watching your budget.

At $252 in Altos versus $1,837 in Panama City, a $1,500 budget is realistic in Altos but tight or insufficient in Panama City. The gap between the two cities makes Altos the clear choice for anyone on this budget.

For families, Altos is more practical. Housing and childcare are both notably cheaper than in Panama City, and the savings on those two alone free up budget for education, activities, and family trips.

Expats usually find Altos gentler on the wallet – expenses run 628% less than in Panama City. Beyond cost, consider language, visa policies, and how big the international community is in each city.