Last update: Oct 2026

Cost of Living Comparison Between Panama City and Asuncion

For one person, living is cheaper in Asuncion: $1,049 a month against $1,837 in Panama City, rent and utilities included – about $9,500 less a year. Rent and utilities account for most of the difference.

90

Cost of Living Index in Panama City
Learn more

Panama City Living Index
51

Cost of Living Index in Asuncion
Learn more

Asuncion Living Index

Jump to prices

Panama City

🇵🇦 Panama

$1,837

/mo nomad

Asuncion

🇵🇾 Paraguay

$1,049

/mo nomad

Monthly Cost of Living

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

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 Asuncion actually costs, broken down by who's living it.

A single person spends $1,837 per month in Panama City vs $1,049 in Asuncion, rent included.

Panama City $1,837
Asuncion $1,049

A couple spends around $2,825 per month in Panama City vs $1,635 in Asuncion, rent included.

Panama City $2,825
Asuncion $1,635

A family of three spends $3,812 per month in Panama City vs $2,221 in Asuncion, rent included.

Panama City $3,812
Asuncion $2,221

Panama City costs about 75% more than Asuncion, and outside of rent the biggest gap is in groceries.

Panama City sits 37% above the global median, while Asuncion is 22% below – they fall on opposite sides of the world average.

Meal at Budget Restaurant

$11.34 PAB 11.34

$6.66 ₲37.8K

70.27%

Three-Course Dinner for Two, Mid-Range

$47.85 PAB 47.85

$43.46 ₲246.7K

10.10%

Fast Food Meal (McDonalds, etc)

$8.07 PAB 8.07

$6.63 ₲37.6K

21.72%

Cappuccino

$4.02 PAB 4.02

$3.44 ₲19.5K

16.86%

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

$1.94 PAB 1.94

$1.07 ₲6,047

81.31%

Water (0.33 liter bottle)

$1.62 PAB 1.62

$0.58 ₲3,299

179.31%

Local Beer (0.5 liter draught)

$3.26 PAB 3.26

$1.85 ₲10.5K

76.22%

Imported Beer (0.33 liter bottle)

$3.99 PAB 3.99

$1.70 ₲9,643

134.71%

Milk (1 liter)

$1.83 PAB 1.83

$1.25 ₲7,087

46.40%

White Bread (500g)

$2.57 PAB 2.57

$1.49 ₲8,448

72.48%

Rice (white) (1kg)

$3.33 PAB 3.33

$1.35 ₲7,645

146.67%

Eggs

$2.69 PAB 2.69

$2.32 ₲13.2K

15.95%

Local Cheese (1kg)

$12.33 PAB 12.33

$9.85 ₲55.9K

25.18%

Chicken Fillets (1kg)

$6.69 PAB 6.69

$5.20 ₲29.5K

28.65%

Beef Round Steak (1kg)

$10.40 PAB 10.40

$9.91 ₲56.3K

4.94%

Apples (1kg)

$4.16 PAB 4.16

$2.99 ₲17.0K

39.13%

Banana (1kg)

$1.84 PAB 1.84

$1.23 ₲6,961

49.59%

Oranges (1kg)

$4.18 PAB 4.18

$1.21 ₲6,866

245.45%

Tomato (1kg)

$4.08 PAB 4.08

$2.45 ₲13.9K

66.53%

Potato (1kg)

$3.50 PAB 3.50

$1.30 ₲7,405

169.23%

Onion (1kg)

$4.37 PAB 4.37

$1.34 ₲7,583

226.12%

Lettuce (1 head)

$2.34 PAB 2.34

$0.84 ₲4,746

178.57%

Water (1.5 liter bottle)

$1.75 PAB 1.75

$0.69 ₲3,926

153.62%

Cigarettes 20 Pack (Marlboro, Camel)

$6.06 PAB 6.06

$2.24 ₲12.7K

170.54%

Wine (Bottle)

$11.72 PAB 11.72

$9.02 ₲51.2K

29.93%

Local Beer (0.5 liter bottle)

$1.37 PAB 1.37

$1.33 ₲7,537

3.01%

Imported Beer (0.33 liter bottle)

$2.84 PAB 2.84

$1.68 ₲9,516

69.05%

One-way Ticket (Public Transport)

$0.36 PAB 0.36

$0.57 ₲3,213

-36.84%

Public Transport Monthly Pass (Regular Price)

$20.96 PAB 20.96

$38.02 ₲215.8K

-44.87%

Taxi Start (Normal Tariff)

$2.52 PAB 2.52

$1.45 ₲8,222

73.79%

Taxi (Normal Tariff) (1km)

$1.79 PAB 1.79

$1.57 ₲8,936

14.01%

Taxi 1hour Waiting (Normal Tariff)

$22.01 PAB 22.01

$10.04 ₲57.0K

119.22%

Gasoline (1 liter)

$1.25 PAB 1.25

$1.21 ₲6,842

3.31%

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

$21.5K PAB 21.5K

$16.9K ₲96.1M

27.21%

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

$21.2K PAB 21.2K

$35.3K ₲200.5M

-40.01%

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

$131 PAB 131

$50.1 ₲284.3K

161.94%

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

$27.68 PAB 27.68

$16.94 ₲96.2K

63.40%

Internet (50+ Mbps, Unlimited Data)

$48.59 PAB 48.59

$21.75 ₲123.5K

123.40%

Gym Membership (Monthly)

$46.11 PAB 46.11

$36.50 ₲207.2K

26.33%

Tennis Court (1 Hour on Weekend)

$35.01 PAB 35.01

$14.89 ₲84.5K

135.12%

Cinema Ticket

$8.73 PAB 8.73

$8.59 ₲48.8K

1.63%

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

$551 PAB 551

$184 ₲1.0M

198.89%

International Primary School, 1 Child (Yearly)

$9,560 PAB 9,560

$5,873 ₲33.3M

62.78%

Jeans (Levis 501 Or Similar)

$67.6 PAB 67.6

$62.4 ₲354.4K

8.30%

Summer Dress (H&M, Zara, etc)

$48.03 PAB 48.03

$55.4 ₲314.2K

-13.24%

Sport Shoes (Adidas, Nike)

$94.9 PAB 94.9

$104 ₲592.2K

-9.05%

Men's Leather Business Shoes

$113 PAB 113

$69.2 ₲392.6K

63.28%

1-bedroom Apartment, City Center (Monthly)

$1,238 PAB 1,238

$620 ₲3.5M

99.47%

1-bedroom Apartment, Outside City Center (Monthly)

$873 PAB 873

$373 ₲2.1M

134.01%

3-bedroom Apartment, City Center (Monthly)

$2,197 PAB 2,197

$1,050 ₲6.0M

109.28%

3-bedroom Apartment, Outside City Center (Monthly)

$1,538 PAB 1,538

$624 ₲3.5M

146.42%

Buy Apartment in City Center (m2)

$3,116 PAB 3,116

$1,716 ₲9.7M

81.61%

Buy Apartment Outside City Center (m2)

$1,725 PAB 1,725

$1,242 ₲7.0M

38.90%

Average Monthly Net Salary (After Tax)

$934 PAB 934

$723 ₲4.1M

29.28%

20-Year Fixed Mortgage Interest Rate (Annual %)

6.39

10.15

-37.04%

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

Last update for Panama City: October 3, 2026

Last update for Asuncion: October 4, 2026

Monthly budget structure

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

Accommodation & Living

Panama City

$873 47.2%

Asuncion

$373 35.8% 57.3% $500

Groceries & Markets

Panama City

$324 17.5%

Asuncion

$213 20.4% 34.3% $111

Monthly Utilities & Internet

Panama City

$207 11.2%

Asuncion

$89 8.5% 57.2% $119

Eating Out

Panama City

$202 10.9%

Asuncion

$134 12.8% 33.8% $68

Clothing & Footwear

Panama City

$146 7.9%

Asuncion

$131 12.6% 9.9% $14

Sport & Entertainment

Panama City

$64 3.4%

Asuncion

$54 5.2% 15.5% $9.9

Getting Around

Panama City

$34 1.8%

Asuncion

$50 4.8% 46.4% $16

Cost Breakdown

A central one-bedroom costs $1,238 in Panama City versus $620 in Asuncion. 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 29% higher in Panama City, 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 $48.00 in Panama City versus $43.00 in Asuncion. Monthly groceries follow the same trend: $324 vs $213 – making Asuncion the more affordable choice for daily food spending.

Good to know

🇵🇦 Panama City

🇵🇾 Asuncion

🕒 Local time

08:48 8:48 AM

10:48 10:48 AM

2 h ahead of Panama City

🌤 Weather

👥 Population

1,086,990 Capital

742,023 Capital

💱 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

Lowest

Highest

Between locations

Panama City Asuncion 4,490 km ≈ 6 h nonstop flight

From you

Panama City
Asuncion

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 Asuncion: Cost of Living - Frequently Asked Questions

Yes – Panama City is pricier by about 75%, and outside of rent the gap shows up most in groceries.

For a comfortable life, plan on about $2,756 per month in Panama City and $1,574 in Asuncion. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

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

Public transport costs about 81% less in Asuncion. For daily commuters, that gap adds up to noticeable savings over a year.

Kindergarten costs $551 per month in Panama City and $184 in Asuncion. For families with young kids, this one expense can tip the scales when choosing between the two cities.

A $1,500 monthly budget goes further in Asuncion, where all-in costs run around $1,049, than in Panama City at $1,837. In Asuncion it covers expenses comfortably, while in Panama City it requires careful planning or may not stretch far enough.

Families tend to lean toward Asuncion – 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 Asuncion. If higher salaries, better infrastructure, or specific career opportunities are the priority, Panama City makes more sense. Both are solid long-term options with distinct trade-offs.