Last update: Oct 2026

Cost of Living Comparison Between Panama City and Cabo San Lucas, Baja California Sur

For one person, living is cheaper in Cabo San Lucas, Baja California Sur: $1,661 a month against $1,837 in Panama City, rent and utilities included – about $2,100 less a year. Other living expenses account for most of the difference.

90

Cost of Living Index in Panama City
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Panama City Living Index
80

Cost of Living Index in Cabo San Lucas, Baja California Sur
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Cabo San Lucas, Baja California Sur Living Index

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Panama City

🇵🇦 Panama

$1,837

/mo nomad

Cabo San Lucas, Baja California Sur

🇲🇽 Mexico

$1,661

/mo nomad

Monthly Cost of Living

How much you'll spend in Panama City and in Cabo San Lucas, Baja California Sur

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 Cabo San Lucas, Baja California Sur actually costs, broken down by who's living it.

A single person spends $1,837 per month in Panama City vs $1,661 in Cabo San Lucas, Baja California Sur, rent included.

Panama City $1,837
Cabo San Lucas, Baja California Sur $1,661

A couple spends around $2,825 per month in Panama City vs $2,454 in Cabo San Lucas, Baja California Sur, rent included.

Panama City $2,825
Cabo San Lucas, Baja California Sur $2,454

A family of three spends $3,812 per month in Panama City vs $3,248 in Cabo San Lucas, Baja California Sur, rent included.

Panama City $3,812
Cabo San Lucas, Baja California Sur $3,248

Panama City costs about 11% more than Cabo San Lucas, Baja California Sur, and outside of rent the biggest gap is in transport.

Both Panama City and Cabo San Lucas, Baja California Sur sit above the global median – Panama City by 37%, Cabo San Lucas, Baja California Sur by 24%.

Meal at Budget Restaurant

$11.34 PAB 11.34

$10.31 MX$189

9.99%

Three-Course Dinner for Two, Mid-Range

$47.85 PAB 47.85

$50.6 MX$929

-5.40%

Fast Food Meal (McDonalds, etc)

$8.07 PAB 8.07

$10.14 MX$186

-20.41%

Cappuccino

$4.02 PAB 4.02

$3.53 MX$64.8

13.88%

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

$1.94 PAB 1.94

$1.49 MX$27.43

30.20%

Water (0.33 liter bottle)

$1.62 PAB 1.62

$0.99 MX$18.15

63.64%

Local Beer (0.5 liter draught)

$3.26 PAB 3.26

$2.51 MX$46.03

29.88%

Imported Beer (0.33 liter bottle)

$3.99 PAB 3.99

$4.47 MX$82.0

-10.74%

Milk (1 liter)

$1.83 PAB 1.83

$1.77 MX$32.49

3.39%

White Bread (500g)

$2.57 PAB 2.57

$3.18 MX$58.3

-19.18%

Rice (white) (1kg)

$3.33 PAB 3.33

$2.56 MX$47.04

30.08%

Eggs

$2.69 PAB 2.69

$2.35 MX$43.21

14.47%

Local Cheese (1kg)

$12.33 PAB 12.33

$11.62 MX$213

6.11%

Chicken Fillets (1kg)

$6.69 PAB 6.69

$10.11 MX$186

-33.83%

Beef Round Steak (1kg)

$10.40 PAB 10.40

$13.70 MX$252

-24.09%

Apples (1kg)

$4.16 PAB 4.16

$2.73 MX$50.1

52.38%

Banana (1kg)

$1.84 PAB 1.84

$1.55 MX$28.40

18.71%

Oranges (1kg)

$4.18 PAB 4.18

$1.59 MX$29.24

162.89%

Tomato (1kg)

$4.08 PAB 4.08

$1.73 MX$31.81

135.84%

Potato (1kg)

$3.50 PAB 3.50

$1.26 MX$23.09

177.78%

Onion (1kg)

$4.37 PAB 4.37

$1.85 MX$33.89

136.22%

Lettuce (1 head)

$2.34 PAB 2.34

$2.77 MX$50.9

-15.52%

Water (1.5 liter bottle)

$1.75 PAB 1.75

$1.27 MX$23.38

37.80%

Cigarettes 20 Pack (Marlboro, Camel)

$6.06 PAB 6.06

$5.06 MX$92.9

19.76%

Wine (Bottle)

$11.72 PAB 11.72

$11.19 MX$205

4.74%

Local Beer (0.5 liter bottle)

$1.37 PAB 1.37

$1.49 MX$27.37

-8.05%

Imported Beer (0.33 liter bottle)

$2.84 PAB 2.84

$3.53 MX$64.8

-19.55%

One-way Ticket (Public Transport)

$0.36 PAB 0.36

$0.87 MX$15.98

-58.62%

Public Transport Monthly Pass (Regular Price)

$20.96 PAB 20.96

$53.2 MX$976

-60.57%

Taxi Start (Normal Tariff)

$2.52 PAB 2.52

$4.37 MX$80.2

-42.33%

Taxi (Normal Tariff) (1km)

$1.79 PAB 1.79

$3.06 MX$56.1

-41.50%

Taxi 1hour Waiting (Normal Tariff)

$22.01 PAB 22.01

$10.59 MX$194

107.84%

Gasoline (1 liter)

$1.25 PAB 1.25

$1.46 MX$26.78

-14.38%

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

$21.5K PAB 21.5K

$21.5K MX$394.1K

0.34%

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

$21.2K PAB 21.2K

$24.4K MX$448.0K

-13.16%

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

$131 PAB 131

$86.9 MX$1,595

51.04%

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

$27.68 PAB 27.68

$25.56 MX$469

8.29%

Internet (50+ Mbps, Unlimited Data)

$48.59 PAB 48.59

$32.06 MX$589

51.56%

Gym Membership (Monthly)

$46.11 PAB 46.11

$45.89 MX$843

0.48%

Tennis Court (1 Hour on Weekend)

$35.01 PAB 35.01

$30.59 MX$562

14.45%

Cinema Ticket

$8.73 PAB 8.73

$4.24 MX$77.8

105.90%

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

$551 PAB 551

$231 MX$4,246

138.06%

International Primary School, 1 Child (Yearly)

$9,560 PAB 9,560

$8,373 MX$153.7K

14.18%

Jeans (Levis 501 Or Similar)

$67.6 PAB 67.6

$72.7 MX$1,335

-7.01%

Summer Dress (H&M, Zara, etc)

$48.03 PAB 48.03

$53.3 MX$979

-9.94%

Sport Shoes (Adidas, Nike)

$94.9 PAB 94.9

$97.2 MX$1,785

-2.39%

Men's Leather Business Shoes

$113 PAB 113

$67.5 MX$1,240

67.22%

1-bedroom Apartment, City Center (Monthly)

$1,238 PAB 1,238

$1,197 MX$22.0K

3.43%

1-bedroom Apartment, Outside City Center (Monthly)

$873 PAB 873

$758 MX$13.9K

15.13%

3-bedroom Apartment, City Center (Monthly)

$2,197 PAB 2,197

$2,543 MX$46.7K

-13.60%

3-bedroom Apartment, Outside City Center (Monthly)

$1,538 PAB 1,538

$1,215 MX$22.3K

26.64%

Buy Apartment in City Center (m2)

$3,116 PAB 3,116

$3,814 MX$70.0K

-18.32%

Buy Apartment Outside City Center (m2)

$1,725 PAB 1,725

$2,196 MX$40.3K

-21.47%

Average Monthly Net Salary (After Tax)

$934 PAB 934

$756 MX$13.9K

23.56%

20-Year Fixed Mortgage Interest Rate (Annual %)

6.39

11.6

-44.91%

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

Last update for Panama City: October 3, 2026

Last update for Cabo San Lucas, Baja California Sur: October 5, 2026

Monthly budget structure

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

Accommodation & Living

Panama City

$873 47.2%

Cabo San Lucas, Baja California Sur

$758 45.8% 13.1% $115

Groceries & Markets

Panama City

$324 17.5%

Cabo San Lucas, Baja California Sur

$304 18.4% 6.2% $20

Monthly Utilities & Internet

Panama City

$207 11.2%

Cabo San Lucas, Baja California Sur

$144 8.7% 30.4% $63

Eating Out

Panama City

$202 10.9%

Cabo San Lucas, Baja California Sur

$187 11.3% 7.4% $15

Clothing & Footwear

Panama City

$146 7.9%

Cabo San Lucas, Baja California Sur

$131 7.9% 10.1% $15

Sport & Entertainment

Panama City

$64 3.4%

Cabo San Lucas, Baja California Sur

$54 3.3% 14.5% $9.2

Getting Around

Panama City

$34 1.8%

Cabo San Lucas, Baja California Sur

$76 4.6% 125% $42

Cost Breakdown

A central one-bedroom costs $1,238 in Panama City versus $1,197 in Cabo San Lucas, Baja California Sur. 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 24% 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 $51.0 in Cabo San Lucas, Baja California Sur. Groceries tell a different story – $324 in Panama City vs $304 in Cabo San Lucas, Baja California Sur – so Cabo San Lucas, Baja California Sur wins on supermarket bills even if dining out costs more.

Good to know

🇵🇦 Panama City

🇲🇽 Cabo San Lucas, Baja California Sur

🕒 Local time

03:06 3:06 AM

01:06 1:06 AM

2 h behind Panama City

🌤 Weather

👥 Population

1,086,990 Capital

202,694

💱 Currency

Panamanian Balboa PAB B/.

Mexican Peso MXN $

📈 Exchange rate

1 PAB = 1 USD

1 PAB = 0.892 EUR

100 MXN = 5.45 USD

100 MXN = 4.86 EUR

Exchange rates and currency converter

MXN, 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).

Mexican Peso exchange rates as of October 10, 2026: 1 USD = 18.36 MXN (100 MXN = 5.45 USD). 1 EUR = 20.59 MXN (100 MXN = 4.86 EUR).

USD to PAB in detail →

On the map

Lowest

Highest

Between locations

Panama City Cabo San Lucas, Baja California Sur 3,590 km ≈ 5 h nonstop flight

From you

Panama City
Cabo San Lucas, Baja California Sur

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 Cabo San Lucas, Baja California Sur: Cost of Living - Frequently Asked Questions

Yes – Panama City is pricier by about 11%, and outside of rent the gap shows up most in transport.

For a comfortable life, plan on about $2,756 per month in Panama City and $2,491 in Cabo San Lucas, Baja California Sur. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Rent is clearly cheaper in Cabo San Lucas, Baja California Sur, especially for central apartments. Housing is actually the single biggest factor behind the overall cost gap between these two cities.

Public transport costs about 154% less in Cabo San Lucas, Baja California Sur. For daily commuters, that gap adds up to noticeable savings over a year.

Kindergarten costs $551 per month in Panama City and $231 in Cabo San Lucas, Baja California Sur. 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 Cabo San Lucas, Baja California Sur, where all-in costs run around $1,661, than in Panama City at $1,837. In Cabo San Lucas, Baja California Sur it covers expenses comfortably, while in Panama City it requires careful planning or may not stretch far enough.

Families tend to lean toward Cabo San Lucas, Baja California Sur – 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 Cabo San Lucas, Baja California Sur. 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.