Last update: Oct 2026

Cost of Living Comparison Between Panama City and Budapest

For one person, living is cheaper in Budapest: $1,621 a month against $1,837 in Panama City, rent and utilities included – about $2,600 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
79

Cost of Living Index in Budapest
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Budapest Living Index

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Panama City

🇵🇦 Panama

$1,837

/mo nomad

Budapest

🇭🇺 Hungary

$1,621

/mo nomad

Monthly Cost of Living

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

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

A single person spends $1,837 per month in Panama City vs $1,621 in Budapest, rent included.

Panama City $1,837
Budapest $1,621

A couple spends around $2,825 per month in Panama City vs $2,555 in Budapest, rent included.

Panama City $2,825
Budapest $2,555

A family of three spends $3,812 per month in Panama City vs $3,489 in Budapest, rent included.

Panama City $3,812
Budapest $3,489

Panama City costs about 13% more than Budapest, and outside of rent the biggest gap is in groceries.

Both Panama City and Budapest sit above the global median – Panama City by 37%, Budapest by 21%.

Meal at Budget Restaurant

$11.34 PAB 11.34

$13.99 Ft 4,555

-18.94%

Three-Course Dinner for Two, Mid-Range

$47.85 PAB 47.85

$60.3 Ft 19.7K

-20.70%

Fast Food Meal (McDonalds, etc)

$8.07 PAB 8.07

$9.96 Ft 3,244

-18.98%

Cappuccino

$4.02 PAB 4.02

$3.38 Ft 1,102

18.93%

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

$1.94 PAB 1.94

$2.13 Ft 693

-8.92%

Water (0.33 liter bottle)

$1.62 PAB 1.62

$1.87 Ft 609

-13.37%

Local Beer (0.5 liter draught)

$3.26 PAB 3.26

$3.75 Ft 1,222

-13.07%

Imported Beer (0.33 liter bottle)

$3.99 PAB 3.99

$3.57 Ft 1,163

11.76%

Milk (1 liter)

$1.83 PAB 1.83

$1.13 Ft 369

61.95%

White Bread (500g)

$2.57 PAB 2.57

$1.84 Ft 600

39.67%

Rice (white) (1kg)

$3.33 PAB 3.33

$2.39 Ft 777

39.33%

Eggs

$2.69 PAB 2.69

$3.83 Ft 1,246

-29.77%

Local Cheese (1kg)

$12.33 PAB 12.33

$11.33 Ft 3,689

8.83%

Chicken Fillets (1kg)

$6.69 PAB 6.69

$6.74 Ft 2,194

-0.74%

Beef Round Steak (1kg)

$10.40 PAB 10.40

$14.69 Ft 4,784

-29.20%

Apples (1kg)

$4.16 PAB 4.16

$1.84 Ft 598

126.09%

Banana (1kg)

$1.84 PAB 1.84

$2.01 Ft 654

-8.46%

Oranges (1kg)

$4.18 PAB 4.18

$2.36 Ft 767

77.12%

Tomato (1kg)

$4.08 PAB 4.08

$3.77 Ft 1,227

8.22%

Potato (1kg)

$3.50 PAB 3.50

$0.96 Ft 314

264.58%

Onion (1kg)

$4.37 PAB 4.37

$1.03 Ft 335

324.27%

Lettuce (1 head)

$2.34 PAB 2.34

$1.56 Ft 509

50.00%

Water (1.5 liter bottle)

$1.75 PAB 1.75

$0.66 Ft 216

165.15%

Cigarettes 20 Pack (Marlboro, Camel)

$6.06 PAB 6.06

$7.96 Ft 2,594

-23.87%

Wine (Bottle)

$11.72 PAB 11.72

$6.01 Ft 1,956

95.01%

Local Beer (0.5 liter bottle)

$1.37 PAB 1.37

$1.30 Ft 422

5.38%

Imported Beer (0.33 liter bottle)

$2.84 PAB 2.84

$2.08 Ft 677

36.54%

One-way Ticket (Public Transport)

$0.36 PAB 0.36

$1.50 Ft 490

-76.00%

Public Transport Monthly Pass (Regular Price)

$20.96 PAB 20.96

$27.61 Ft 8,991

-24.09%

Taxi Start (Normal Tariff)

$2.52 PAB 2.52

$3.30 Ft 1,075

-23.64%

Taxi (Normal Tariff) (1km)

$1.79 PAB 1.79

$1.30 Ft 424

37.69%

Taxi 1hour Waiting (Normal Tariff)

$22.01 PAB 22.01

$19.78 Ft 6,442

11.27%

Gasoline (1 liter)

$1.25 PAB 1.25

$1.81 Ft 591

-30.94%

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

$21.5K PAB 21.5K

$29.3K Ft 9.6M

-26.57%

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

$21.2K PAB 21.2K

$34.1K Ft 11.1M

-37.87%

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

$131 PAB 131

$170 Ft 55.3K

-22.81%

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

$27.68 PAB 27.68

$23.98 Ft 7,809

15.43%

Internet (50+ Mbps, Unlimited Data)

$48.59 PAB 48.59

$23.42 Ft 7,628

107.47%

Gym Membership (Monthly)

$46.11 PAB 46.11

$66.2 Ft 21.6K

-30.39%

Tennis Court (1 Hour on Weekend)

$35.01 PAB 35.01

$19.18 Ft 6,245

82.53%

Cinema Ticket

$8.73 PAB 8.73

$9.52 Ft 3,101

-8.30%

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

$551 PAB 551

$537 Ft 174.8K

2.58%

International Primary School, 1 Child (Yearly)

$9,560 PAB 9,560

$16.6K Ft 5.4M

-42.43%

Jeans (Levis 501 Or Similar)

$67.6 PAB 67.6

$101 Ft 33.0K

-33.28%

Summer Dress (H&M, Zara, etc)

$48.03 PAB 48.03

$42.99 Ft 14.0K

11.72%

Sport Shoes (Adidas, Nike)

$94.9 PAB 94.9

$113 Ft 36.7K

-15.84%

Men's Leather Business Shoes

$113 PAB 113

$119 Ft 38.7K

-4.88%

1-bedroom Apartment, City Center (Monthly)

$1,238 PAB 1,238

$805 Ft 262.2K

53.72%

1-bedroom Apartment, Outside City Center (Monthly)

$873 PAB 873

$629 Ft 204.9K

38.77%

3-bedroom Apartment, City Center (Monthly)

$2,197 PAB 2,197

$1,549 Ft 504.6K

41.81%

3-bedroom Apartment, Outside City Center (Monthly)

$1,538 PAB 1,538

$1,167 Ft 380.1K

31.80%

Buy Apartment in City Center (m2)

$3,116 PAB 3,116

$5,618 Ft 1.8M

-44.54%

Buy Apartment Outside City Center (m2)

$1,725 PAB 1,725

$3,968 Ft 1.3M

-56.54%

Average Monthly Net Salary (After Tax)

$934 PAB 934

$1,626 Ft 529.5K

-42.52%

20-Year Fixed Mortgage Interest Rate (Annual %)

6.39

6.43

-0.62%

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

Last update for Panama City: October 3, 2026

Last update for Budapest: October 5, 2026

Monthly budget structure

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

Accommodation & Living

Panama City

$873 47.2%

Budapest

$629 38.7% 27.9% $244

Groceries & Markets

Panama City

$324 17.5%

Budapest

$258 15.8% 20.6% $67

Monthly Utilities & Internet

Panama City

$207 11.2%

Budapest

$217 13.4% 4.8% $9.9

Eating Out

Panama City

$202 10.9%

Budapest

$224 13.8% 11.2% $23

Clothing & Footwear

Panama City

$146 7.9%

Budapest

$169 10.4% 16.2% $24

Sport & Entertainment

Panama City

$64 3.4%

Budapest

$85 5.2% 34.2% $22

Getting Around

Panama City

$34 1.8%

Budapest

$43 2.7% 28.2% $9.5

Cost Breakdown

A central one-bedroom costs $1,238 in Panama City versus $805 in Budapest. 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 74% higher in Budapest, which reinforces the cost advantage – you earn more and spend less. Purchasing power leans clearly in its favor.

A mid-range dinner for two costs $48.00 in Panama City versus $60.0 in Budapest. Groceries tell a different story – $324 in Panama City vs $258 in Budapest – so Budapest wins on supermarket bills even if dining out costs more.

Good to know

🇵🇦 Panama City

🇭🇺 Budapest

🕒 Local time

20:07 8:07 PM

03:07 3:07 AM

7 h ahead of Panama City

🌤 Weather

👥 Population

1,086,990 Capital

1,686,222 Capital

💱 Currency

Panamanian Balboa PAB B/.

Hungarian Forint HUF Ft

📈 Exchange rate

1 PAB = 1 USD

1 PAB = 0.892 EUR

1,000 HUF = 3.07 USD

1,000 HUF = 2.74 EUR

Exchange rates and currency converter

HUF, 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).

Hungarian Forint exchange rates as of October 10, 2026: 1 USD = 326 HUF (1,000 HUF = 3.07 USD). 1 EUR = 365 HUF (1,000 HUF = 2.74 EUR).

USD to PAB in detail →

On the map

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Between locations

Panama City Budapest 9,910 km ≈ 13 h nonstop flight

From you

Panama City
Budapest

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 Budapest: Cost of Living - Frequently Asked Questions

Yes – Panama City is pricier by about 13%, 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 $2,432 in Budapest. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

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

Public transport costs about 32% less in Budapest. For daily commuters, that gap adds up to noticeable savings over a year.

Kindergarten costs $551 per month in Panama City and $537 in Budapest. For families with young kids, this one expense can tip the scales when choosing between the two cities.

A $2,500 monthly budget goes further in Budapest, where all-in costs run around $1,621, than in Panama City at $1,837. In Budapest it covers expenses comfortably, while in Panama City it requires careful planning or may not stretch far enough.

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

Both have safer and rougher neighborhoods, but overall safety is comparable to other large cities. Neighborhood choice matters more than the city-level comparison – central, well-trafficked areas feel secure in both.

If budget matters most, go with Budapest. 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.