Last update: Oct 2026

Cost of Living Comparison Between Panama City and Charlottetown

For one person, living is cheaper in Panama City: $1,837 a month against $1,957 in Charlottetown, rent and utilities included – about $1,400 less a year. The total is higher in Charlottetown despite lower rent and utilities.

90

Cost of Living Index in Panama City
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Panama City Living Index
95

Cost of Living Index in Charlottetown
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Charlottetown Living Index

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Panama City

🇵🇦 Panama

$1,837

/mo nomad

Charlottetown

🇨🇦 Canada

$1,957

/mo nomad

Monthly Cost of Living

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

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

A single person spends $1,837 per month in Panama City vs $1,957 in Charlottetown, rent included.

Panama City $1,837
Charlottetown $1,957

A couple spends around $2,825 per month in Panama City vs $2,920 in Charlottetown, rent included.

Panama City $2,825
Charlottetown $2,920

A family of three spends $3,812 per month in Panama City vs $3,882 in Charlottetown, rent included.

Panama City $3,812
Charlottetown $3,882

Panama City is about 6% cheaper than Charlottetown, and outside of rent the biggest gap is in groceries.

Both Panama City and Charlottetown sit above the global median – Panama City by 37%, Charlottetown by 46%.

Meal at Budget Restaurant

$11.34 PAB 11.34

$14.00 CA$19.95

-19.00%

Three-Course Dinner for Two, Mid-Range

$47.85 PAB 47.85

$59.2 CA$84.3

-19.10%

Fast Food Meal (McDonalds, etc)

$8.07 PAB 8.07

$9.23 CA$13.16

-12.57%

Cappuccino

$4.02 PAB 4.02

$3.57 CA$5.08

12.61%

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

$1.94 PAB 1.94

$1.73 CA$2.46

12.14%

Water (0.33 liter bottle)

$1.62 PAB 1.62

$1.29 CA$1.84

25.58%

Local Beer (0.5 liter draught)

$3.26 PAB 3.26

$5.52 CA$7.87

-40.94%

Imported Beer (0.33 liter bottle)

$3.99 PAB 3.99

$5.57 CA$7.94

-28.37%

Milk (1 liter)

$1.83 PAB 1.83

$2.23 CA$3.18

-17.94%

White Bread (500g)

$2.57 PAB 2.57

$2.99 CA$4.27

-14.05%

Rice (white) (1kg)

$3.33 PAB 3.33

$4.85 CA$6.91

-31.34%

Eggs

$2.69 PAB 2.69

$3.90 CA$5.56

-31.03%

Local Cheese (1kg)

$12.33 PAB 12.33

$11.34 CA$16.16

8.73%

Chicken Fillets (1kg)

$6.69 PAB 6.69

$14.86 CA$21.18

-54.98%

Beef Round Steak (1kg)

$10.40 PAB 10.40

$16.99 CA$24.22

-38.79%

Apples (1kg)

$4.16 PAB 4.16

$3.52 CA$5.02

18.18%

Banana (1kg)

$1.84 PAB 1.84

$1.45 CA$2.07

26.90%

Oranges (1kg)

$4.18 PAB 4.18

$3.91 CA$5.57

6.91%

Tomato (1kg)

$4.08 PAB 4.08

$4.72 CA$6.73

-13.56%

Potato (1kg)

$3.50 PAB 3.50

$1.72 CA$2.45

103.49%

Onion (1kg)

$4.37 PAB 4.37

$3.12 CA$4.44

40.06%

Lettuce (1 head)

$2.34 PAB 2.34

$2.67 CA$3.81

-12.36%

Water (1.5 liter bottle)

$1.75 PAB 1.75

$2.03 CA$2.90

-13.79%

Cigarettes 20 Pack (Marlboro, Camel)

$6.06 PAB 6.06

$17.45 CA$24.87

-65.27%

Wine (Bottle)

$11.72 PAB 11.72

$13.70 CA$19.52

-14.45%

Local Beer (0.5 liter bottle)

$1.37 PAB 1.37

$3.25 CA$4.64

-57.85%

Imported Beer (0.33 liter bottle)

$2.84 PAB 2.84

$3.09 CA$4.41

-8.09%

One-way Ticket (Public Transport)

$0.36 PAB 0.36

$1.42 CA$2.03

-74.65%

Public Transport Monthly Pass (Regular Price)

$20.96 PAB 20.96

$14.18 CA$20.21

47.81%

Taxi Start (Normal Tariff)

$2.52 PAB 2.52

$7.29 CA$10.39

-65.43%

Taxi (Normal Tariff) (1km)

$1.79 PAB 1.79

$2.05 CA$2.93

-12.68%

Taxi 1hour Waiting (Normal Tariff)

$22.01 PAB 22.01

$27.61 CA$39.35

-20.28%

Gasoline (1 liter)

$1.25 PAB 1.25

$1.24 CA$1.77

0.81%

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

$21.5K PAB 21.5K

$27.6K CA$39.3K

-21.98%

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

$21.2K PAB 21.2K

$18.3K CA$26.1K

15.56%

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

$131 PAB 131

$124 CA$177

5.74%

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

$27.68 PAB 27.68

$32.57 CA$46.42

-15.01%

Internet (50+ Mbps, Unlimited Data)

$48.59 PAB 48.59

$73.0 CA$104

-33.46%

Gym Membership (Monthly)

$46.11 PAB 46.11

$56.9 CA$81.1

-18.99%

Tennis Court (1 Hour on Weekend)

$35.01 PAB 35.01

$3.55 CA$5.06

886.20%

Cinema Ticket

$8.73 PAB 8.73

$10.57 CA$15.07

-17.41%

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

$551 PAB 551

$157 CA$224

250.46%

International Primary School, 1 Child (Yearly)

$9,560 PAB 9,560

Jeans (Levis 501 Or Similar)

$67.6 PAB 67.6

$39.61 CA$56.5

70.69%

Summer Dress (H&M, Zara, etc)

$48.03 PAB 48.03

$33.73 CA$48.08

42.40%

Sport Shoes (Adidas, Nike)

$94.9 PAB 94.9

$83.1 CA$118

14.16%

Men's Leather Business Shoes

$113 PAB 113

$129 CA$184

-12.73%

1-bedroom Apartment, City Center (Monthly)

$1,238 PAB 1,238

$1,091 CA$1,555

13.46%

1-bedroom Apartment, Outside City Center (Monthly)

$873 PAB 873

$823 CA$1,174

6.05%

3-bedroom Apartment, City Center (Monthly)

$2,197 PAB 2,197

$1,747 CA$2,491

25.73%

3-bedroom Apartment, Outside City Center (Monthly)

$1,538 PAB 1,538

$1,358 CA$1,936

13.27%

Buy Apartment in City Center (m2)

$3,116 PAB 3,116

$3,107 CA$4,428

0.29%

Buy Apartment Outside City Center (m2)

$1,725 PAB 1,725

$1,923 CA$2,741

-10.32%

Average Monthly Net Salary (After Tax)

$934 PAB 934

$2,415 CA$3,442

-61.30%

20-Year Fixed Mortgage Interest Rate (Annual %)

6.39

4.58

39.52%

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

Last update for Panama City: October 3, 2026

Last update for Charlottetown: October 6, 2026

Monthly budget structure

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

Accommodation & Living

Panama City

$873 47.2%

Charlottetown

$823 42.5% 5.7% $50

Groceries & Markets

Panama City

$324 17.5%

Charlottetown

$408 21.1% 25.9% $84

Monthly Utilities & Internet

Panama City

$207 11.2%

Charlottetown

$230 11.9% 10.7% $22

Eating Out

Panama City

$202 10.9%

Charlottetown

$233 12% 15.7% $32

Clothing & Footwear

Panama City

$146 7.9%

Charlottetown

$129 6.6% 11.6% $17

Sport & Entertainment

Panama City

$64 3.4%

Charlottetown

$78 4% 22.8% $14

Getting Around

Panama City

$34 1.8%

Charlottetown

$37 1.9% 10.4% $3.5

Cost Breakdown

A central one-bedroom costs $1,238 in Panama City versus $1,091 in Charlottetown. 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 158% higher in Charlottetown, 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 $59.0 in Charlottetown. Monthly groceries follow the same trend: $324 vs $408 – making Panama City the more affordable choice for daily food spending.

Good to know

🇵🇦 Panama City

🇨🇦 Charlottetown

🕒 Local time

06:49 6:49 AM

08:49 8:49 AM

2 h ahead of Panama City

🌤 Weather

👥 Population

1,086,990 Capital

38,809

💱 Currency

Panamanian Balboa PAB B/.

Canadian Dollar CAD $

📈 Exchange rate

1 PAB = 1 USD

1 PAB = 0.892 EUR

1 CAD = 0.702 USD

1 CAD = 0.626 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 10, 2026: 1 USD = 1 PAB (1 PAB = 1 USD). 1 EUR = 1.12 PAB (1 PAB = 0.892 EUR).

Canadian Dollar exchange rates as of October 10, 2026: 1 USD = 1.43 CAD (1 CAD = 0.702 USD). 1 EUR = 1.6 CAD (1 CAD = 0.626 EUR).

USD to PAB in detail →

On the map

Lowest

Highest

Between locations

Panama City Charlottetown 4,430 km ≈ 6 h nonstop flight

From you

Panama City
Charlottetown

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 Charlottetown: Cost of Living - Frequently Asked Questions

Charlottetown costs about 7% more than Panama City, and outside of rent the gap comes mainly from groceries. That's enough to noticeably affect everyday spending and lifestyle for anyone choosing between the two.

For a comfortable life, plan on about $2,756 per month in Panama City and $2,936 in Charlottetown. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Rent is clearly cheaper in Panama City, 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 $1,837 in Panama City and $1,957 in Charlottetown. That's a gap of about 7%.

Public transport costs about 48% less in Panama City. For daily commuters, that gap adds up to noticeable savings over a year.

A $2,500 monthly budget goes further in Panama City, where all-in costs run around $1,837, than in Charlottetown at $1,957. In Panama City it covers expenses comfortably, while in Charlottetown it requires careful planning or may not stretch far enough.

For digital nomads, it depends on budget. Panama City costs $1,837 versus $1,957 in Charlottetown. Both have workable remote work infrastructure, but the cost gap matters when income varies month to month.

If budget matters most, go with Panama City. If higher salaries, better infrastructure, or specific career opportunities are the priority, Charlottetown makes more sense. Both are solid long-term options with distinct trade-offs.