Last update: Oct 2026

Cost of Living Comparison Between Panama City and Burnaby

For one person, living is cheaper in Panama City: $1,855 a month against $2,738 in Burnaby, rent and utilities included – about $10,600 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
133

Cost of Living Index in Burnaby
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Burnaby Living Index

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Panama City

🇵🇦 Panama

$1,855

/mo nomad

Burnaby

🇨🇦 Canada

$2,738

/mo nomad

Monthly Cost of Living

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

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

Monthly costs for one person with rent: $1,855 in Panama City versus $2,738 in Burnaby.

Panama City $1,855
Burnaby $2,738

Estimated couple costs with rent: $2,804 in Panama City versus $3,928 in Burnaby.

Panama City $2,804
Burnaby $3,928

Monthly costs for a family of three with rent: $3,753 in Panama City versus $5,117 in Burnaby.

Panama City $3,753
Burnaby $5,117

Living in Panama City costs roughly 32% less than in Burnaby, and outside of rent the biggest gap is in eating out.

Both cities are pricier than the global median: Panama City 37% above, Burnaby 103% above.

Meal at Budget Restaurant

$11.63 PAB 11.63

$21.18 CA$29.94

-45.09%

Three-Course Dinner for Two, Mid-Range

$47.92 PAB 47.92

$83.7 CA$118

-42.78%

Fast Food Meal (McDonalds, etc)

$7.96 PAB 7.96

$8.94 CA$12.64

-10.96%

Cappuccino

$4.22 PAB 4.22

$4.66 CA$6.59

-9.44%

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

$2.01 PAB 2.01

$2.30 CA$3.26

-12.61%

Water (0.33 liter bottle)

$1.56 PAB 1.56

$1.68 CA$2.38

-7.14%

Local Beer (0.5 liter draught)

$3.39 PAB 3.39

$8.45 CA$11.95

-59.88%

Imported Beer (0.33 liter bottle)

$3.94 PAB 3.94

$5.81 CA$8.21

-32.19%

Milk (1 liter)

$1.85 PAB 1.85

$2.30 CA$3.25

-19.57%

White Bread (500g)

$2.56 PAB 2.56

$2.71 CA$3.83

-5.54%

Rice (white) (1kg)

$3.48 PAB 3.48

$3.53 CA$4.99

-1.42%

Eggs

$2.69 PAB 2.69

$3.08 CA$4.36

-12.66%

Local Cheese (1kg)

$12.57 PAB 12.57

$13.50 CA$19.08

-6.89%

Chicken Fillets (1kg)

$6.83 PAB 6.83

$13.49 CA$19.08

-49.37%

Beef Round Steak (1kg)

$10.58 PAB 10.58

$25.16 CA$35.57

-57.95%

Apples (1kg)

$4.18 PAB 4.18

$4.46 CA$6.30

-6.28%

Banana (1kg)

$1.83 PAB 1.83

$1.30 CA$1.84

40.77%

Oranges (1kg)

$4.20 PAB 4.20

$4.52 CA$6.38

-7.08%

Tomato (1kg)

$4.03 PAB 4.03

$4.63 CA$6.54

-12.96%

Potato (1kg)

$3.48 PAB 3.48

$2.81 CA$3.97

23.84%

Onion (1kg)

$4.22 PAB 4.22

$3.47 CA$4.90

21.61%

Lettuce (1 head)

$2.41 PAB 2.41

$2.68 CA$3.79

-10.07%

Water (1.5 liter bottle)

$1.69 PAB 1.69

$2.11 CA$2.99

-19.91%

Cigarettes 20 Pack (Marlboro, Camel)

$6.14 PAB 6.14

$13.99 CA$19.78

-56.11%

Wine (Bottle)

$11.30 PAB 11.30

$13.46 CA$19.03

-16.05%

Local Beer (0.5 liter bottle)

$1.42 PAB 1.42

$2.08 CA$2.94

-31.73%

Imported Beer (0.33 liter bottle)

$2.73 PAB 2.73

$2.28 CA$3.22

19.74%

One-way Ticket (Public Transport)

$0.33 PAB 0.33

$2.32 CA$3.28

-85.78%

Public Transport Monthly Pass (Regular Price)

$21.23 PAB 21.23

$79.5 CA$112

-73.30%

Taxi Start (Normal Tariff)

$2.52 PAB 2.52

$2.87 CA$4.05

-12.20%

Taxi (Normal Tariff) (1km)

$1.86 PAB 1.86

$1.50 CA$2.13

24.00%

Taxi 1hour Waiting (Normal Tariff)

$21.78 PAB 21.78

$26.37 CA$37.27

-17.41%

Gasoline (1 liter)

$1.25 PAB 1.25

$1.30 CA$1.84

-3.85%

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

$21.2K PAB 21.2K

$27.6K CA$39.0K

-23.02%

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

$21.0K PAB 21.0K

$18.7K CA$26.4K

12.65%

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

$130 PAB 130

$120 CA$170

7.86%

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

$28.13 PAB 28.13

$43.55 CA$61.6

-35.41%

Internet (50+ Mbps, Unlimited Data)

$48.21 PAB 48.21

$53.1 CA$75.1

-9.17%

Gym Membership (Monthly)

$45.78 PAB 45.78

$29.72 CA$42.01

54.04%

Tennis Court (1 Hour on Weekend)

$34.92 PAB 34.92

$10.33 CA$14.61

238.04%

Cinema Ticket

$8.67 PAB 8.67

$13.91 CA$19.67

-37.67%

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

$544 PAB 544

$634 CA$897

-14.19%

International Primary School, 1 Child (Yearly)

$9,697 PAB 9,697

Jeans (Levis 501 Or Similar)

$66.8 PAB 66.8

$51.7 CA$73.1

29.16%

Summer Dress (H&M, Zara, etc)

$49.14 PAB 49.14

$51.6 CA$73.0

-4.79%

Sport Shoes (Adidas, Nike)

$93.9 PAB 93.9

$102 CA$144

-7.77%

Men's Leather Business Shoes

$112 PAB 112

$77.4 CA$109

44.07%

1-bedroom Apartment, City Center (Monthly)

$1,257 PAB 1,257

$1,628 CA$2,302

-22.81%

1-bedroom Apartment, Outside City Center (Monthly)

$875 PAB 875

$1,491 CA$2,108

-41.32%

3-bedroom Apartment, City Center (Monthly)

$2,155 PAB 2,155

$2,454 CA$3,469

-12.17%

3-bedroom Apartment, Outside City Center (Monthly)

$1,564 PAB 1,564

$2,187 CA$3,092

-28.49%

Buy Apartment in City Center (m2)

$3,122 PAB 3,122

$6,588 CA$9,313

-52.61%

Buy Apartment Outside City Center (m2)

$1,709 PAB 1,709

$5,530 CA$7,817

-69.09%

Average Monthly Net Salary (After Tax)

$916 PAB 916

$3,144 CA$4,445

-70.87%

20-Year Fixed Mortgage Interest Rate (Annual %)

6.39

4.76

34.24%

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

Last update for Panama City: October 10, 2026

Last update for Burnaby: October 11, 2026

Monthly budget structure

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

Accommodation & Living

Panama City

$875 47.2%

Burnaby

$1.5K 54.4% 70.4% $616

Groceries & Markets

Panama City

$325 17.5%

Burnaby

$425 15.5% 30.6% $99

Eating Out

Panama City

$207 11.1%

Burnaby

$322 11.8% 55.8% $115

Monthly Utilities & Internet

Panama City

$206 11.1%

Burnaby

$217 7.9% 5.3% $11

Clothing & Footwear

Panama City

$145 7.8%

Burnaby

$127 4.6% 12.1% $17

Sport & Entertainment

Panama City

$63 3.4%

Burnaby

$58 2.1% 8.8% $5.6

Getting Around

Panama City

$34 1.9%

Burnaby

$99 3.6% 188% $65

Cost Breakdown

A one-bedroom apartment in the center runs $1,257 in Panama City and $1,628 in Burnaby. Housing cost is often the main lever when comparing two cities.

Burnaby pays 243% more on average. The extra income cushions the higher costs, though housing choices and lifestyle decide how much of the gap is truly closed.

Dining out: $48.00 in Panama City vs $84.0 in Burnaby for a mid-range dinner for two. Groceries echo the gap at $325 vs $425 per month, with Panama City cheaper across the board.

Good to know

🇵🇦 Panama City

🇨🇦 Burnaby

🕒 Local time

17:33 5:33 PM

15:33 3:33 PM

2 h behind Panama City

🌤 Weather

👥 Population

1,086,990 Capital

249,125

💱 Currency

Panamanian Balboa PAB B/.

Canadian Dollar CAD $

📈 Exchange rate

1 PAB = 1 USD

1 PAB = 0.89 EUR

1 CAD = 0.707 USD

1 CAD = 0.629 EUR

Exchange rates and currency converter

CAD, USD, EUR to PAB – Panamanian Balboa Converter

🇺🇸 United States Dollar ($)

🇵🇦 Panamanian Balboa (B/.)

Panamanian Balboa exchange rates as of October 18, 2026: 1 USD = 1 PAB (1 PAB = 1 USD). 1 EUR = 1.12 PAB (1 PAB = 0.89 EUR).

Canadian Dollar exchange rates as of October 18, 2026: 1 USD = 1.41 CAD (1 CAD = 0.707 USD). 1 EUR = 1.59 CAD (1 CAD = 0.629 EUR).

USD to PAB in detail →

On the map

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Between locations

Panama City Burnaby 6,020 km ≈ 8 h nonstop flight

From you

Panama City
Burnaby

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 Burnaby: Cost of Living - Frequently Asked Questions

Panama City and Burnaby differ by about 48% in total monthly costs ($1,855 vs $2,738 including rent). Panama City is meaningfully more affordable – a gap that matters a lot on a fixed or modest income.

On paper, salaries run 243% lower in Burnaby. That's worth factoring in alongside costs, though remote workers earning in a stronger currency may not notice the difference at all.

Rent for a central apartment: $1,257 in Panama City versus $1,628 in Burnaby. Housing is usually the single largest factor when comparing overall living costs between the two.

Childcare runs $544 in Panama City versus $634 in Burnaby. Over years of preschool, even a modest monthly gap compounds into a major financial factor for families.

Supermarket bills run roughly 31% higher in Burnaby. For households that cook at home regularly, that difference adds up over a month.

At $1,855 in Panama City versus $2,738 in Burnaby, a $2,500 budget is realistic in Panama City but tight or insufficient in Burnaby. The gap between the two cities makes Panama City the clear choice for anyone on this budget.

Both cities offer a good standard of living with different trade-offs. Neither is objectively better – the right pick depends on what matters most: affordability, career, cultural scene, or climate.

Expats usually find Panama City gentler on the wallet – expenses run 48% less than in Burnaby. Beyond cost, consider language, visa policies, and how big the international community is in each city.