Last update: Oct 2026

Cost of Living Comparison Between Panama City and Castro

For one person, living is cheaper in Castro: $875 a month against $1,855 in Panama City, rent and utilities included – about $11,800 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
50

Cost of Living Index in Castro
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Castro Living Index

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Panama City

🇵🇦 Panama

$1,855

/mo nomad

Castro

🇨🇱 Chile

$875

/mo nomad

Monthly Cost of Living

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

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

A single person spends $1,855 per month in Panama City vs $875 in Castro, rent included.

Panama City $1,855
Castro $875

A couple spends around $2,804 per month in Panama City vs $1,381 in Castro, rent included.

Panama City $2,804
Castro $1,381

A family of three spends $3,753 per month in Panama City vs $1,887 in Castro, rent included.

Panama City $3,753
Castro $1,887

Panama City costs about 112% more than Castro, and outside of rent the biggest gap is in clothing.

Panama City sits 37% above the global median, while Castro is 35% below – they fall on opposite sides of the world average.

Meal at Budget Restaurant

$11.63 PAB 11.63

$8.29 CLP 8,163

40.29%

Three-Course Dinner for Two, Mid-Range

$47.92 PAB 47.92

$46.10 CLP 45.4K

3.95%

Fast Food Meal (McDonalds, etc)

$7.96 PAB 7.96

$5.66 CLP 5,568

40.64%

Cappuccino

$4.22 PAB 4.22

$1.49 CLP 1,464

183.22%

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

$2.01 PAB 2.01

$1.20 CLP 1,181

67.50%

Water (0.33 liter bottle)

$1.56 PAB 1.56

$1.01 CLP 990

54.46%

Local Beer (0.5 liter draught)

$3.39 PAB 3.39

$5.15 CLP 5,066

-34.17%

Imported Beer (0.33 liter bottle)

$3.94 PAB 3.94

$7.29 CLP 7,173

-45.95%

Milk (1 liter)

$1.85 PAB 1.85

$1.08 CLP 1,065

71.30%

White Bread (500g)

$2.56 PAB 2.56

$3.51 CLP 3,451

-27.07%

Rice (white) (1kg)

$3.48 PAB 3.48

$1.25 CLP 1,232

178.40%

Eggs

$2.69 PAB 2.69

$4.12 CLP 4,056

-34.71%

Local Cheese (1kg)

$12.57 PAB 12.57

$9.67 CLP 9,523

29.99%

Chicken Fillets (1kg)

$6.83 PAB 6.83

$4.03 CLP 3,965

69.48%

Beef Round Steak (1kg)

$10.58 PAB 10.58

$8.49 CLP 8,358

24.62%

Apples (1kg)

$4.18 PAB 4.18

$1.40 CLP 1,373

198.57%

Banana (1kg)

$1.83 PAB 1.83

$2.30 CLP 2,268

-20.43%

Oranges (1kg)

$4.20 PAB 4.20

$1.48 CLP 1,461

183.78%

Tomato (1kg)

$4.03 PAB 4.03

$1.98 CLP 1,947

103.54%

Potato (1kg)

$3.48 PAB 3.48

$1.13 CLP 1,109

207.96%

Onion (1kg)

$4.22 PAB 4.22

Lettuce (1 head)

$2.41 PAB 2.41

$1.52 CLP 1,494

58.55%

Water (1.5 liter bottle)

$1.69 PAB 1.69

$1.56 CLP 1,531

8.33%

Cigarettes 20 Pack (Marlboro, Camel)

$6.14 PAB 6.14

$3.75 CLP 3,688

63.73%

Wine (Bottle)

$11.30 PAB 11.30

$7.78 CLP 7,662

45.24%

Local Beer (0.5 liter bottle)

$1.42 PAB 1.42

$1.00 CLP 987

42.00%

Imported Beer (0.33 liter bottle)

$2.73 PAB 2.73

$3.13 CLP 3,085

-12.78%

One-way Ticket (Public Transport)

$0.33 PAB 0.33

$0.66 CLP 654

-50.00%

Public Transport Monthly Pass (Regular Price)

$21.23 PAB 21.23

Taxi Start (Normal Tariff)

$2.52 PAB 2.52

Taxi (Normal Tariff) (1km)

$1.86 PAB 1.86

Taxi 1hour Waiting (Normal Tariff)

$21.78 PAB 21.78

Gasoline (1 liter)

$1.25 PAB 1.25

$1.30 CLP 1,282

-3.85%

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

$21.2K PAB 21.2K

$15.5K CLP 15.2M

37.38%

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

$21.0K PAB 21.0K

$18.2K CLP 17.9M

15.37%

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

$130 PAB 130

$131 CLP 128.8K

-0.78%

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

$28.13 PAB 28.13

Internet (50+ Mbps, Unlimited Data)

$48.21 PAB 48.21

$31.25 CLP 30.8K

54.27%

Gym Membership (Monthly)

$45.78 PAB 45.78

Tennis Court (1 Hour on Weekend)

$34.92 PAB 34.92

Cinema Ticket

$8.67 PAB 8.67

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

$544 PAB 544

International Primary School, 1 Child (Yearly)

$9,697 PAB 9,697

Jeans (Levis 501 Or Similar)

$66.8 PAB 66.8

Summer Dress (H&M, Zara, etc)

$49.14 PAB 49.14

Sport Shoes (Adidas, Nike)

$93.9 PAB 93.9

$81.0 CLP 79.7K

15.89%

Men's Leather Business Shoes

$112 PAB 112

1-bedroom Apartment, City Center (Monthly)

$1,257 PAB 1,257

$355 CLP 349.2K

254.34%

1-bedroom Apartment, Outside City Center (Monthly)

$875 PAB 875

$290 CLP 285.5K

201.65%

3-bedroom Apartment, City Center (Monthly)

$2,155 PAB 2,155

$1,002 CLP 986.6K

115.03%

3-bedroom Apartment, Outside City Center (Monthly)

$1,564 PAB 1,564

$576 CLP 566.8K

171.58%

Buy Apartment in City Center (m2)

$3,122 PAB 3,122

Buy Apartment Outside City Center (m2)

$1,709 PAB 1,709

Average Monthly Net Salary (After Tax)

$916 PAB 916

$614 CLP 604.7K

49.11%

20-Year Fixed Mortgage Interest Rate (Annual %)

6.39

-8.71%

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

Last update for Panama City: October 10, 2026

Last update for Castro: October 13, 2026

Monthly budget structure

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

Accommodation & Living

Panama City

$875 47.2%

Castro

$290 33.2% 66.8% $585

Groceries & Markets

Panama City

$325 17.5%

Castro

$234 * 26.7% 28.2% $92

Eating Out

Panama City

$207 11.1%

Castro

$150 17.2% 27.3% $56

Monthly Utilities & Internet

Panama City

$206 11.1%

Castro

$162 * 18.5% 21.4% $44

Clothing & Footwear

Panama City

$145 7.8%

Castro

$36 * 4.2% 74.8% $108

Sport & Entertainment

Panama City

$63 3.4%

Castro

- * 0% 100%

Getting Around

Panama City

$34 1.9%

Castro

$2.7 * 0.3% 92.3% $32

Categories marked with * are only partly priced – their share counts the items that do have prices.

Cost Breakdown

A central one-bedroom costs $1,257 in Panama City versus $355 in Castro. 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 49% 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 $46.00 in Castro. Monthly groceries follow the same trend: $325 vs $234 – making Castro the more affordable choice for daily food spending.

Good to know

🇵🇦 Panama City

🇨🇱 Castro

🕒 Local time

01:53 1:53 AM

03:53 3:53 AM

2 h ahead of Panama City

🌤 Weather

👥 Population

1,086,990 Capital

33,417

💱 Currency

Panamanian Balboa PAB B/.

Chilean Peso CLP $

📈 Exchange rate

1 PAB = 1 USD

1 PAB = 0.89 EUR

10,000 CLP = 10.16 USD

10,000 CLP = 9.04 EUR

Exchange rates and currency converter

CLP, 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).

Chilean Peso exchange rates as of October 18, 2026: 1 USD = 984 CLP (1,000 CLP = 1.02 USD). 1 EUR = 1,107 CLP (10,000 CLP = 9.04 EUR).

USD to PAB in detail →

On the map

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Between locations

Panama City Castro 5,750 km ≈ 8 h nonstop flight

From you

Panama City
Castro

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 Castro: Cost of Living - Frequently Asked Questions

Panama City costs about 112% more than Castro, and outside of rent the gap comes mainly from clothing. That's enough to noticeably affect everyday spending and lifestyle for anyone choosing between the two.

For a comfortable life, plan on about $2,783 per month in Panama City and $1,313 in Castro. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

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

Monthly expenses with rent come to $1,855 in Panama City and $875 in Castro. That's a gap of about 112%.

Groceries cost about 39% more in Panama City, though it depends on what you buy. Local produce may be comparable; imported and premium items show the biggest price gap.

A $1,000 monthly budget goes further in Castro, where all-in costs run around $875, than in Panama City at $1,855. In Castro it covers expenses comfortably, while in Panama City it requires careful planning or may not stretch far enough.

For digital nomads, it depends on budget. Castro costs $875 versus $1,855 in Panama City. Both have workable remote work infrastructure, but the cost gap matters when income varies month to month.

If budget matters most, go with Castro. 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.