Last update: Nov 2026

Cost of Living Comparison Between Panama City and Calgary

For one person, living is cheaper in Panama City: $1,972 a month against $2,297 in Calgary, rent and utilities included – about $3,900 less a year. Other living expenses account for most of the difference.

95

Cost of Living Index in Panama City
Learn more

Panama City Living Index
110

Cost of Living Index in Calgary
Learn more

Calgary Living Index

Jump to prices

Panama City

🇵🇦 Panama

$1,972

/mo nomad

Calgary

🇨🇦 Canada

$2,297

/mo nomad

Monthly Cost of Living

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

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

Monthly costs for one person with rent: $1,972 in Panama City versus $2,297 in Calgary.

Panama City $1,972
Calgary $2,297

Estimated couple costs with rent: $2,930 in Panama City versus $3,378 in Calgary.

Panama City $2,930
Calgary $3,378

Monthly costs for a family of three with rent: $3,888 in Panama City versus $4,459 in Calgary.

Panama City $3,888
Calgary $4,459

Living in Panama City costs roughly 14% less than in Calgary, and outside of rent the biggest gap is in transport.

Both cities are pricier than the global median: Panama City 46% above, Calgary 70% above.

Meal at Budget Restaurant

$11.37 PAB 11.37

$17.94 CA$25.23

-36.62%

Three-Course Dinner for Two, Mid-Range

$46.69 PAB 46.69

$68.9 CA$96.9

-32.21%

Fast Food Meal (McDonalds, etc)

$7.98 PAB 7.98

$10.94 CA$15.38

-27.06%

Cappuccino

$4.12 PAB 4.12

$3.70 CA$5.21

11.35%

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

$2.01 PAB 2.01

$2.07 CA$2.91

-2.90%

Water (0.33 liter bottle)

$1.57 PAB 1.57

$2.04 CA$2.87

-23.04%

Local Beer (0.5 liter draught)

$3.28 PAB 3.28

$5.74 CA$8.08

-42.86%

Imported Beer (0.33 liter bottle)

$3.88 PAB 3.88

$5.70 CA$8.02

-31.93%

Milk (1 liter)

$1.82 PAB 1.82

$1.98 CA$2.78

-8.08%

White Bread (500g)

$2.61 PAB 2.61

$2.65 CA$3.72

-1.51%

Rice (white) (1kg)

$3.45 PAB 3.45

$5.84 CA$8.21

-40.92%

Eggs

$2.68 PAB 2.68

$3.81 CA$5.36

-29.66%

Local Cheese (1kg)

$12.42 PAB 12.42

$10.81 CA$15.20

14.89%

Chicken Fillets (1kg)

$6.73 PAB 6.73

$11.02 CA$15.50

-38.93%

Beef Round Steak (1kg)

$10.44 PAB 10.44

$17.87 CA$25.14

-41.58%

Apples (1kg)

$4.21 PAB 4.21

$4.88 CA$6.87

-13.73%

Banana (1kg)

$1.95 PAB 1.95

$1.45 CA$2.04

34.48%

Oranges (1kg)

$4.07 PAB 4.07

$4.15 CA$5.84

-1.93%

Tomato (1kg)

$4.02 PAB 4.02

$3.99 CA$5.61

0.75%

Potato (1kg)

$3.46 PAB 3.46

$2.93 CA$4.12

18.09%

Onion (1kg)

$4.42 PAB 4.42

$3.02 CA$4.25

46.36%

Lettuce (1 head)

$2.43 PAB 2.43

$2.67 CA$3.75

-8.99%

Water (1.5 liter bottle)

$1.72 PAB 1.72

$1.57 CA$2.21

9.55%

Cigarettes 20 Pack (Marlboro, Camel)

$6.04 PAB 6.04

$14.11 CA$19.84

-57.19%

Wine (Bottle)

$11.68 PAB 11.68

$15.45 CA$21.73

-24.40%

Local Beer (0.5 liter bottle)

$1.41 PAB 1.41

$2.50 CA$3.52

-43.60%

Imported Beer (0.33 liter bottle)

$2.74 PAB 2.74

$3.18 CA$4.47

-13.84%

One-way Ticket (Public Transport)

$0.33 PAB 0.33

$2.85 CA$4.00

-88.42%

Public Transport Monthly Pass (Regular Price)

$20.65 PAB 20.65

$90.2 CA$127

-77.11%

Taxi Start (Normal Tariff)

$2.45 PAB 2.45

$3.16 CA$4.45

-22.47%

Taxi (Normal Tariff) (1km)

$1.76 PAB 1.76

$1.41 CA$1.98

24.82%

Taxi 1hour Waiting (Normal Tariff)

$21.86 PAB 21.86

$27.46 CA$38.62

-20.39%

Gasoline (1 liter)

$1.20 PAB 1.20

$1.18 CA$1.66

1.69%

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

$24.6K PAB 24.6K

$27.9K CA$39.2K

-11.88%

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

$20.9K PAB 20.9K

$21.1K CA$29.6K

-0.79%

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

$132 PAB 132

$182 CA$256

-27.52%

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

$27.89 PAB 27.89

$36.01 CA$50.7

-22.55%

Internet (50+ Mbps, Unlimited Data)

$49.10 PAB 49.10

$48.80 CA$68.6

0.61%

Gym Membership (Monthly)

$44.53 PAB 44.53

$48.78 CA$68.6

-8.71%

Tennis Court (1 Hour on Weekend)

$34.01 PAB 34.01

$18.15 CA$25.53

87.38%

Cinema Ticket

$8.70 PAB 8.70

$14.52 CA$20.42

-40.08%

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

$537 PAB 537

$542 CA$762

-0.95%

International Primary School, 1 Child (Yearly)

$20.5K PAB 20.5K

$21.2K CA$29.8K

-3.07%

Jeans (Levis 501 Or Similar)

$65.8 PAB 65.8

$59.1 CA$83.1

11.39%

Summer Dress (H&M, Zara, etc)

$48.45 PAB 48.45

$42.34 CA$59.5

14.43%

Sport Shoes (Adidas, Nike)

$95.4 PAB 95.4

$94.2 CA$132

1.33%

Men's Leather Business Shoes

$114 PAB 114

$109 CA$153

4.56%

1-bedroom Apartment, City Center (Monthly)

$1,405 PAB 1,405

$1,214 CA$1,707

15.74%

1-bedroom Apartment, Outside City Center (Monthly)

$994 PAB 994

$1,036 CA$1,457

-4.07%

3-bedroom Apartment, City Center (Monthly)

$2,221 PAB 2,221

$2,045 CA$2,876

8.59%

3-bedroom Apartment, Outside City Center (Monthly)

$1,714 PAB 1,714

$1,655 CA$2,327

3.56%

Buy Apartment in City Center (m2)

$3,139 PAB 3,139

$3,653 CA$5,137

-14.08%

Buy Apartment Outside City Center (m2)

$1,724 PAB 1,724

$3,183 CA$4,476

-45.85%

Average Monthly Net Salary (After Tax)

$936 PAB 936

$3,219 CA$4,526

-70.92%

20-Year Fixed Mortgage Interest Rate (Annual %)

6.39

4.43

44.24%

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

Last update for Panama City: November 3, 2026

Last update for Calgary: November 2, 2026

Monthly budget structure

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

Accommodation & Living

Panama City

$994 50.4%

Calgary

$1K 45.1% 4.2% $42

Groceries & Markets

Panama City

$326 16.5%

Calgary

$390 17% 19.7% $64

Monthly Utilities & Internet

Panama City

$209 10.6%

Calgary

$267 11.6% 27.7% $58

Eating Out

Panama City

$203 10.3%

Calgary

$277 12.1% 36.7% $74

Clothing & Footwear

Panama City

$145 7.4%

Calgary

$137 6% 5.9% $8.6

Sport & Entertainment

Panama City

$62 3.1%

Calgary

$78 3.4% 25.7% $16

Getting Around

Panama City

$33 1.7%

Calgary

$112 4.9% 236% $79

Cost Breakdown

A one-bedroom apartment in the center runs $1,405 in Panama City and $1,214 in Calgary. Housing cost is often the main lever when comparing two cities.

Calgary pays about 3.4 times more on average. How far that income stretches comes down to housing choices and lifestyle.

Dining out: $47 in Panama City vs $69 in Calgary for a mid-range dinner for two. Groceries echo the gap at $326 vs $390 per month, with Panama City cheaper across the board.

Good to know

🇵🇦 Panama City

🇨🇦 Calgary

🕒 Local time

07:37 7:37 AM

06:37 6:37 AM

1 h behind Panama City

🌤 Weather

👥 Population

1,086,990 Capital

1,267,344

💱 Currency

Panamanian Balboa PAB B/.

Canadian Dollar CAD $

📈 Exchange rate

1 PAB = 1 USD

1 PAB = 0.89 EUR

1 CAD = 0.711 USD

1 CAD = 0.633 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 November 6, 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 November 6, 2026: 1 USD = 1.41 CAD (1 CAD = 0.711 USD). 1 EUR = 1.58 CAD (1 CAD = 0.633 EUR).

USD to PAB in detail →

On the map

Lowest

Highest

Between locations

Panama City Calgary 5,640 km ≈ 8 h nonstop flight

From you

Panama City
Calgary

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 Calgary: Cost of Living - Frequently Asked Questions

Panama City is about 14% cheaper overall, especially in transport, eating out, and groceries. That difference adds up to real monthly savings that compound significantly over time.

On paper, salaries run 71% lower in Panama City. 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: $1,405 in Panama City versus $1,214 in Calgary. Housing is usually the single largest factor when comparing overall living costs between the two.

Dining out is cheaper in Panama City – a meal for two runs $47 versus $69 in Calgary. If you eat out regularly, this makes a real dent in your monthly spending.

All in, you’ll spend $1,972 per month in Panama City versus $2,297 in Calgary – Panama City is about 14% cheaper, which adds up to real savings over time.

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.

It comes down to priorities – Panama City wins on affordability, Calgary on earning potential. Factor in climate, language, visa rules, and proximity to places that matter to you before deciding.