Last update: Oct 2026

Cost of Living Comparison Between Panama City and Concepcion

For one person, living is cheaper in Concepcion: $1,060 a month against $1,837 in Panama City, rent and utilities included – about $9,300 less a year. Rent and utilities account for most of the difference.

90

Cost of Living Index in Panama City
Learn more

Panama City Living Index
51

Cost of Living Index in Concepcion
Learn more

Concepcion Living Index

Jump to prices

Panama City

🇵🇦 Panama

$1,837

/mo nomad

Concepcion

🇨🇱 Chile

$1,060

/mo nomad

Monthly Cost of Living

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

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

Monthly costs for one person with rent: $1,837 in Panama City versus $1,060 in Concepcion.

Panama City $1,837
Concepcion $1,060

Estimated couple costs with rent: $2,825 in Panama City versus $1,654 in Concepcion.

Panama City $2,825
Concepcion $1,654

Monthly costs for a family of three with rent: $3,812 in Panama City versus $2,247 in Concepcion.

Panama City $3,812
Concepcion $2,247

Living in Panama City is roughly 73% more expensive than in Concepcion, and outside of rent the biggest gap is in groceries.

The two cities straddle the global median: Panama City is 37% above, Concepcion is 21% below.

Meal at Budget Restaurant

$11.34 PAB 11.34

$7.02 CLP 6,844

61.54%

Three-Course Dinner for Two, Mid-Range

$47.85 PAB 47.85

$45.59 CLP 44.5K

4.96%

Fast Food Meal (McDonalds, etc)

$8.07 PAB 8.07

$7.64 CLP 7,454

5.63%

Cappuccino

$4.02 PAB 4.02

$2.83 CLP 2,760

42.05%

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

$1.94 PAB 1.94

$1.43 CLP 1,391

35.66%

Water (0.33 liter bottle)

$1.62 PAB 1.62

$1.05 CLP 1,022

54.29%

Local Beer (0.5 liter draught)

$3.26 PAB 3.26

$3.89 CLP 3,797

-16.20%

Imported Beer (0.33 liter bottle)

$3.99 PAB 3.99

$3.74 CLP 3,650

6.68%

Milk (1 liter)

$1.83 PAB 1.83

$1.26 CLP 1,227

45.24%

White Bread (500g)

$2.57 PAB 2.57

$1.51 CLP 1,469

70.20%

Rice (white) (1kg)

$3.33 PAB 3.33

$1.53 CLP 1,488

117.65%

Eggs

$2.69 PAB 2.69

$3.63 CLP 3,538

-25.90%

Local Cheese (1kg)

$12.33 PAB 12.33

$10.94 CLP 10.7K

12.71%

Chicken Fillets (1kg)

$6.69 PAB 6.69

$6.65 CLP 6,484

0.60%

Beef Round Steak (1kg)

$10.40 PAB 10.40

$11.78 CLP 11.5K

-11.71%

Apples (1kg)

$4.16 PAB 4.16

$1.45 CLP 1,413

186.90%

Banana (1kg)

$1.84 PAB 1.84

$1.35 CLP 1,315

36.30%

Oranges (1kg)

$4.18 PAB 4.18

$1.49 CLP 1,453

180.54%

Tomato (1kg)

$4.08 PAB 4.08

$1.41 CLP 1,370

189.36%

Potato (1kg)

$3.50 PAB 3.50

$1.04 CLP 1,013

236.54%

Onion (1kg)

$4.37 PAB 4.37

$1.31 CLP 1,277

233.59%

Lettuce (1 head)

$2.34 PAB 2.34

$1.12 CLP 1,089

108.93%

Water (1.5 liter bottle)

$1.75 PAB 1.75

$1.18 CLP 1,152

48.31%

Cigarettes 20 Pack (Marlboro, Camel)

$6.06 PAB 6.06

$5.09 CLP 4,959

19.06%

Wine (Bottle)

$11.72 PAB 11.72

$5.01 CLP 4,881

133.93%

Local Beer (0.5 liter bottle)

$1.37 PAB 1.37

$0.96 CLP 940

42.71%

Imported Beer (0.33 liter bottle)

$2.84 PAB 2.84

$1.69 CLP 1,645

68.05%

One-way Ticket (Public Transport)

$0.36 PAB 0.36

$0.55 CLP 539

-34.55%

Public Transport Monthly Pass (Regular Price)

$20.96 PAB 20.96

$31.51 CLP 30.7K

-33.48%

Taxi Start (Normal Tariff)

$2.52 PAB 2.52

$1.20 CLP 1,169

110.00%

Taxi (Normal Tariff) (1km)

$1.79 PAB 1.79

$2.25 CLP 2,198

-20.44%

Taxi 1hour Waiting (Normal Tariff)

$22.01 PAB 22.01

$12.28 CLP 12.0K

79.23%

Gasoline (1 liter)

$1.25 PAB 1.25

$1.37 CLP 1,336

-8.76%

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

$21.5K PAB 21.5K

$19.9K CLP 19.4M

7.99%

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

$21.2K PAB 21.2K

$24.7K CLP 24.1M

-14.12%

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

$131 PAB 131

$108 CLP 105.2K

21.53%

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

$27.68 PAB 27.68

$13.06 CLP 12.7K

111.94%

Internet (50+ Mbps, Unlimited Data)

$48.59 PAB 48.59

$27.55 CLP 26.9K

76.37%

Gym Membership (Monthly)

$46.11 PAB 46.11

$29.45 CLP 28.7K

56.57%

Tennis Court (1 Hour on Weekend)

$35.01 PAB 35.01

$10.48 CLP 10.2K

234.06%

Cinema Ticket

$8.73 PAB 8.73

$5.74 CLP 5,596

52.09%

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

$551 PAB 551

$318 CLP 309.6K

73.41%

International Primary School, 1 Child (Yearly)

$9,560 PAB 9,560

$4,329 CLP 4.2M

120.87%

Jeans (Levis 501 Or Similar)

$67.6 PAB 67.6

$45.10 CLP 44.0K

49.91%

Summer Dress (H&M, Zara, etc)

$48.03 PAB 48.03

$22.28 CLP 21.7K

115.57%

Sport Shoes (Adidas, Nike)

$94.9 PAB 94.9

$63.8 CLP 62.2K

48.82%

Men's Leather Business Shoes

$113 PAB 113

$64.7 CLP 63.0K

74.69%

1-bedroom Apartment, City Center (Monthly)

$1,238 PAB 1,238

$474 CLP 461.9K

161.29%

1-bedroom Apartment, Outside City Center (Monthly)

$873 PAB 873

$346 CLP 337.0K

152.63%

3-bedroom Apartment, City Center (Monthly)

$2,197 PAB 2,197

$955 CLP 931.2K

130.06%

3-bedroom Apartment, Outside City Center (Monthly)

$1,538 PAB 1,538

$643 CLP 627.1K

139.17%

Buy Apartment in City Center (m2)

$3,116 PAB 3,116

$2,137 CLP 2.1M

45.78%

Buy Apartment Outside City Center (m2)

$1,725 PAB 1,725

$1,810 CLP 1.8M

-4.71%

Average Monthly Net Salary (After Tax)

$934 PAB 934

$542 CLP 528.2K

72.50%

20-Year Fixed Mortgage Interest Rate (Annual %)

6.39

5.3

20.57%

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

Last update for Panama City: October 3, 2026

Last update for Concepcion: October 4, 2026

Monthly budget structure

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

Accommodation & Living

Panama City

$873 47.2%

Concepcion

$346 33.2% 60.4% $528

Groceries & Markets

Panama City

$324 17.5%

Concepcion

$221 21.2% 32% $104

Monthly Utilities & Internet

Panama City

$207 11.2%

Concepcion

$149 14.3% 28.4% $59

Eating Out

Panama City

$202 10.9%

Concepcion

$150 14.4% 25.7% $52

Clothing & Footwear

Panama City

$146 7.9%

Concepcion

$88 8.5% 39.5% $57

Sport & Entertainment

Panama City

$64 3.4%

Concepcion

$41 3.9% 35.6% $23

Getting Around

Panama City

$34 1.8%

Concepcion

$46 4.4% 36.3% $12

Cost Breakdown

A one-bedroom apartment in the center runs $1,238 in Panama City and $474 in Concepcion. Housing cost is often the main lever when comparing two cities.

Panama City pays 73% 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 $46.00 in Concepcion for a mid-range dinner for two. Groceries echo the gap at $324 vs $221 per month, with Concepcion cheaper across the board.

Good to know

🇵🇦 Panama City

🇨🇱 Concepcion

🕒 Local time

05:12 5:12 AM

07:12 7:12 AM

2 h ahead of Panama City

🌤 Weather

👥 Population

1,086,990 Capital

217,537

💱 Currency

Panamanian Balboa PAB B/.

Chilean Peso CLP $

📈 Exchange rate

1 PAB = 1 USD

1 PAB = 0.892 EUR

10,000 CLP = 10.26 USD

10,000 CLP = 9.15 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 10, 2026: 1 USD = 1 PAB (1 PAB = 1 USD). 1 EUR = 1.12 PAB (1 PAB = 0.892 EUR).

Chilean Peso exchange rates as of October 10, 2026: 1 USD = 975 CLP (1,000 CLP = 1.03 USD). 1 EUR = 1,093 CLP (10,000 CLP = 9.15 EUR).

USD to PAB in detail →

On the map

Lowest

Highest

Between locations

Panama City Concepcion 5,140 km ≈ 7 h nonstop flight

From you

Panama City
Concepcion

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 Concepcion: Cost of Living - Frequently Asked Questions

Panama City and Concepcion differ by about 73% in total monthly costs ($1,837 vs $1,060 including rent). Concepcion is meaningfully more affordable – a gap that matters a lot on a fixed or modest income.

Average pay runs 73% 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: $1,238 in Panama City versus $474 in Concepcion. Housing is usually the single largest factor when comparing overall living costs between the two.

Supermarket bills run roughly 47% higher in Panama City. For households that cook at home regularly, that difference adds up over a month.

Dining out is cheaper in Concepcion – a meal for two runs $46.00 versus $48.00 in Panama City. If you eat out regularly, this makes a real dent in your monthly spending.

At $1,060 in Concepcion versus $1,837 in Panama City, a $2,000 budget is realistic in Concepcion but tight or insufficient in Panama City. The gap between the two cities makes Concepcion the clear choice for anyone on this budget.

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.

Expats usually find Concepcion gentler on the wallet – expenses run 73% less than in Panama City. Beyond cost, consider language, visa policies, and how big the international community is in each city.