Last update: Oct 2026

Cost of Living Comparison Between Panama City and Caraguatatuba

For one person, living is cheaper in Caraguatatuba: $843 a month against $1,855 in Panama City, rent and utilities included – about $12,100 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
41

Cost of Living Index in Caraguatatuba
Learn more

Caraguatatuba Living Index

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Panama City

🇵🇦 Panama

$1,855

/mo nomad

Caraguatatuba

🇧🇷 Brazil

$843

/mo nomad

Monthly Cost of Living

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

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

Monthly costs for one person with rent: $1,855 in Panama City versus $843 in Caraguatatuba.

Panama City $1,855
Caraguatatuba $843

Estimated couple costs with rent: $2,804 in Panama City versus $1,363 in Caraguatatuba.

Panama City $2,804
Caraguatatuba $1,363

Monthly costs for a family of three with rent: $3,753 in Panama City versus $1,883 in Caraguatatuba.

Panama City $3,753
Caraguatatuba $1,883

Living in Panama City is roughly 120% more expensive than in Caraguatatuba, and outside of rent the biggest gap is in groceries.

The two cities straddle the global median: Panama City is 37% above, Caraguatatuba is 38% below.

Meal at Budget Restaurant

$11.63 PAB 11.63

$7.70 R$39.04

51.04%

Three-Course Dinner for Two, Mid-Range

$47.92 PAB 47.92

$29.38 R$149

63.10%

Fast Food Meal (McDonalds, etc)

$7.96 PAB 7.96

$9.23 R$46.80

-13.76%

Cappuccino

$4.22 PAB 4.22

$2.37 R$11.99

78.06%

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

$2.01 PAB 2.01

$1.23 R$6.25

63.41%

Water (0.33 liter bottle)

$1.56 PAB 1.56

$0.88 R$4.48

77.27%

Local Beer (0.5 liter draught)

$3.39 PAB 3.39

$2.36 R$11.96

43.64%

Imported Beer (0.33 liter bottle)

$3.94 PAB 3.94

$3.27 R$16.60

20.49%

Milk (1 liter)

$1.85 PAB 1.85

$1.00 R$5.09

85.00%

White Bread (500g)

$2.56 PAB 2.56

$1.61 R$8.17

59.01%

Rice (white) (1kg)

$3.48 PAB 3.48

$1.40 R$7.10

148.57%

Eggs

$2.69 PAB 2.69

$1.96 R$9.96

37.24%

Local Cheese (1kg)

$12.57 PAB 12.57

$5.89 R$29.84

113.41%

Chicken Fillets (1kg)

$6.83 PAB 6.83

$3.32 R$16.82

105.72%

Beef Round Steak (1kg)

$10.58 PAB 10.58

$7.98 R$40.47

32.58%

Apples (1kg)

$4.18 PAB 4.18

$2.15 R$10.89

94.42%

Banana (1kg)

$1.83 PAB 1.83

$1.67 R$8.46

9.58%

Oranges (1kg)

$4.20 PAB 4.20

$1.46 R$7.39

187.67%

Tomato (1kg)

$4.03 PAB 4.03

$1.42 R$7.19

183.80%

Potato (1kg)

$3.48 PAB 3.48

$1.27 R$6.45

174.02%

Onion (1kg)

$4.22 PAB 4.22

$0.82 R$4.13

414.63%

Lettuce (1 head)

$2.41 PAB 2.41

$0.71 R$3.60

239.44%

Water (1.5 liter bottle)

$1.69 PAB 1.69

$0.79 R$3.99

113.92%

Cigarettes 20 Pack (Marlboro, Camel)

$6.14 PAB 6.14

$2.16 R$10.96

184.26%

Wine (Bottle)

$11.30 PAB 11.30

$7.00 R$35.46

61.43%

Local Beer (0.5 liter bottle)

$1.42 PAB 1.42

$1.50 R$7.58

-5.33%

Imported Beer (0.33 liter bottle)

$2.73 PAB 2.73

$2.59 R$13.11

5.41%

One-way Ticket (Public Transport)

$0.33 PAB 0.33

$0.98 R$4.96

-66.33%

Public Transport Monthly Pass (Regular Price)

$21.23 PAB 21.23

$23.55 R$119

-9.85%

Taxi Start (Normal Tariff)

$2.52 PAB 2.52

$1.16 R$5.89

117.24%

Taxi (Normal Tariff) (1km)

$1.86 PAB 1.86

$0.73 R$3.70

154.79%

Taxi 1hour Waiting (Normal Tariff)

$21.78 PAB 21.78

$3.52 R$17.85

518.75%

Gasoline (1 liter)

$1.25 PAB 1.25

$1.30 R$6.59

-3.85%

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

$21.2K PAB 21.2K

$15.7K R$79.3K

35.70%

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

$21.0K PAB 21.0K

$29.5K R$149.6K

-28.76%

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

$130 PAB 130

$66.3 R$336

95.81%

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

$28.13 PAB 28.13

$13.05 R$66.2

115.56%

Internet (50+ Mbps, Unlimited Data)

$48.21 PAB 48.21

$22.44 R$114

114.84%

Gym Membership (Monthly)

$45.78 PAB 45.78

$21.64 R$110

111.55%

Tennis Court (1 Hour on Weekend)

$34.92 PAB 34.92

$16.29 R$82.6

114.36%

Cinema Ticket

$8.67 PAB 8.67

$8.17 R$41.40

6.12%

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

$544 PAB 544

$223 R$1,130

144.15%

International Primary School, 1 Child (Yearly)

$9,697 PAB 9,697

$4,271 R$21.7K

127.03%

Jeans (Levis 501 Or Similar)

$66.8 PAB 66.8

$57.8 R$293

15.50%

Summer Dress (H&M, Zara, etc)

$49.14 PAB 49.14

$56.6 R$287

-13.15%

Sport Shoes (Adidas, Nike)

$93.9 PAB 93.9

$78.3 R$397

19.81%

Men's Leather Business Shoes

$112 PAB 112

$59.2 R$300

88.40%

1-bedroom Apartment, City Center (Monthly)

$1,257 PAB 1,257

$416 R$2,110

201.95%

1-bedroom Apartment, Outside City Center (Monthly)

$875 PAB 875

$237 R$1,201

269.21%

3-bedroom Apartment, City Center (Monthly)

$2,155 PAB 2,155

$879 R$4,453

145.32%

3-bedroom Apartment, Outside City Center (Monthly)

$1,564 PAB 1,564

$522 R$2,648

199.32%

Buy Apartment in City Center (m2)

$3,122 PAB 3,122

$1,681 R$8,523

85.69%

Buy Apartment Outside City Center (m2)

$1,709 PAB 1,709

$1,217 R$6,170

40.43%

Average Monthly Net Salary (After Tax)

$916 PAB 916

$336 R$1,704

172.43%

20-Year Fixed Mortgage Interest Rate (Annual %)

6.39

8.15

-21.60%

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

Last update for Panama City: October 10, 2026

Last update for Caraguatatuba: October 11, 2026

Monthly budget structure

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

Accommodation & Living

Panama City

$875 47.2%

Caraguatatuba

$237 28.1% 72.9% $638

Groceries & Markets

Panama City

$325 17.5%

Caraguatatuba

$176 20.9% 45.9% $149

Eating Out

Panama City

$207 11.1%

Caraguatatuba

$145 17.2% 30.1% $62

Monthly Utilities & Internet

Panama City

$206 11.1%

Caraguatatuba

$102 12.1% 50.6% $104

Clothing & Footwear

Panama City

$145 7.8%

Caraguatatuba

$113 13.5% 21.6% $31

Sport & Entertainment

Panama City

$63 3.4%

Caraguatatuba

$38 4.5% 39.8% $25

Getting Around

Panama City

$34 1.9%

Caraguatatuba

$32 3.8% 6.2% $2.1

Cost Breakdown

A one-bedroom apartment in the center runs $1,257 in Panama City and $416 in Caraguatatuba. Housing cost is often the main lever when comparing two cities.

Panama City pays 172% 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 $29.00 in Caraguatatuba for a mid-range dinner for two. Groceries echo the gap at $325 vs $176 per month, with Caraguatatuba cheaper across the board.

Good to know

🇵🇦 Panama City

🇧🇷 Caraguatatuba

🕒 Local time

03:01 3:01 AM

05:01 5:01 AM

2 h ahead of Panama City

🌤 Weather

👥 Population

1,086,990 Capital

134,873

💱 Currency

Panamanian Balboa PAB B/.

Brazilian Real BRL R$

📈 Exchange rate

1 PAB = 1 USD

1 PAB = 0.89 EUR

1 BRL = 0.197 USD

1 BRL = 0.175 EUR

Exchange rates and currency converter

BRL, 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).

Brazilian Real exchange rates as of October 18, 2026: 1 USD = 5.07 BRL (1 BRL = 0.197 USD). 1 EUR = 5.7 BRL (1 BRL = 0.175 EUR).

USD to PAB in detail →

On the map

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Between locations

Panama City Caraguatatuba 5,180 km ≈ 7 h nonstop flight

From you

Panama City
Caraguatatuba

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 Caraguatatuba: Cost of Living - Frequently Asked Questions

Caraguatatuba is cheaper overall, especially in groceries, eating out, and clothing. The 120% gap adds up to real monthly savings that compound significantly over time.

Average pay runs 172% higher in Panama City, which matters when comparing affordability. Whether that higher income actually nets you more depends on your spending habits and housing choices.

Rent for a central apartment: $1,257 in Panama City versus $416 in Caraguatatuba. Housing is usually the single largest factor when comparing overall living costs between the two.

Supermarket bills run roughly 85% higher in Panama City. For households that cook at home regularly, that difference adds up over a month.

Dining out is cheaper in Caraguatatuba – a meal for two runs $29.00 versus $48.00 in Panama City. If you eat out regularly, this makes a real dent in your monthly spending.

At $843 in Caraguatatuba versus $1,855 in Panama City, a $1,500 budget is realistic in Caraguatatuba but tight or insufficient in Panama City. The gap between the two cities makes Caraguatatuba the clear choice for anyone on this budget.

For families, Caraguatatuba is more practical. Housing and childcare are both notably cheaper than in Panama City, and the savings on those two alone free up budget for education, activities, and family trips.

Expats usually find Caraguatatuba gentler on the wallet – expenses run 120% less than in Panama City. Beyond cost, consider language, visa policies, and how big the international community is in each city.