Last update: Oct 2026

Cost of Living Comparison Between Panama City and Coquimbo

For one person, living is cheaper in Coquimbo: $555 a month against $1,857 in Panama City, rent and utilities included – about $15,600 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
50

Cost of Living Index in Coquimbo
Learn more

Coquimbo Living Index

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Panama City

🇵🇦 Panama

$1,857

/mo nomad

Coquimbo

🇨🇱 Chile

$555

/mo nomad

Monthly Cost of Living

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

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

Monthly costs for one person with rent: $1,857 in Panama City versus $555 in Coquimbo.

Panama City $1,857
Coquimbo $555

Estimated couple costs with rent: $2,815 in Panama City versus $927 in Coquimbo.

Panama City $2,815
Coquimbo $927

Monthly costs for a family of three with rent: $3,773 in Panama City versus $1,300 in Coquimbo.

Panama City $3,773
Coquimbo $1,300

Living in Panama City is roughly 235% more expensive than in Coquimbo, and outside of rent the biggest gap is in groceries.

The two cities straddle the global median: Panama City is 37% above, Coquimbo is 59% below.

Meal at Budget Restaurant

$11.68 PAB 11.68

$6.84 CLP 6,737

70.76%

Three-Course Dinner for Two, Mid-Range

$47.76 PAB 47.76

$46.62 CLP 45.9K

2.45%

Fast Food Meal (McDonalds, etc)

$8.12 PAB 8.12

$6.13 CLP 6,039

32.46%

Cappuccino

$4.23 PAB 4.23

$3.48 CLP 3,430

21.55%

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

$1.92 PAB 1.92

$1.14 CLP 1,125

68.42%

Water (0.33 liter bottle)

$1.58 PAB 1.58

$1.00 CLP 984

58.00%

Local Beer (0.5 liter draught)

$3.31 PAB 3.31

$4.15 CLP 4,081

-20.24%

Imported Beer (0.33 liter bottle)

$3.98 PAB 3.98

$4.52 CLP 4,447

-11.95%

Milk (1 liter)

$1.92 PAB 1.92

$1.01 CLP 992

90.10%

White Bread (500g)

$2.63 PAB 2.63

$3.11 CLP 3,060

-15.43%

Rice (white) (1kg)

$3.39 PAB 3.39

$1.21 CLP 1,193

180.17%

Eggs

$2.67 PAB 2.67

$2.62 CLP 2,583

1.91%

Local Cheese (1kg)

$12.21 PAB 12.21

$8.14 CLP 8,010

50.00%

Chicken Fillets (1kg)

$6.91 PAB 6.91

Beef Round Steak (1kg)

$10.58 PAB 10.58

Apples (1kg)

$4.16 PAB 4.16

$1.35 CLP 1,331

208.15%

Banana (1kg)

$1.97 PAB 1.97

$1.82 CLP 1,796

8.24%

Oranges (1kg)

$4.06 PAB 4.06

$0.99 CLP 977

310.10%

Tomato (1kg)

$4.18 PAB 4.18

$0.99 CLP 975

322.22%

Potato (1kg)

$3.47 PAB 3.47

Onion (1kg)

$4.26 PAB 4.26

$1.26 CLP 1,245

238.10%

Lettuce (1 head)

$2.44 PAB 2.44

$0.60 CLP 587

306.67%

Water (1.5 liter bottle)

$1.69 PAB 1.69

$1.31 CLP 1,292

29.01%

Cigarettes 20 Pack (Marlboro, Camel)

$5.83 PAB 5.83

$5.05 CLP 4,971

15.45%

Wine (Bottle)

$11.43 PAB 11.43

$8.21 CLP 8,079

39.22%

Local Beer (0.5 liter bottle)

$1.38 PAB 1.38

Imported Beer (0.33 liter bottle)

$2.76 PAB 2.76

$4.63 CLP 4,562

-40.39%

One-way Ticket (Public Transport)

$0.33 PAB 0.33

$0.84 CLP 830

-60.71%

Public Transport Monthly Pass (Regular Price)

$20.63 PAB 20.63

Taxi Start (Normal Tariff)

$2.55 PAB 2.55

Taxi (Normal Tariff) (1km)

$1.78 PAB 1.78

Taxi 1hour Waiting (Normal Tariff)

$22.17 PAB 22.17

Gasoline (1 liter)

$1.24 PAB 1.24

$1.35 CLP 1,327

-8.15%

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

$24.4K PAB 24.4K

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

$21.3K PAB 21.3K

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

$131 PAB 131

$102 CLP 100.3K

28.89%

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

$27.83 PAB 27.83

$12.45 CLP 12.3K

123.53%

Internet (50+ Mbps, Unlimited Data)

$49.32 PAB 49.32

Gym Membership (Monthly)

$45.69 PAB 45.69

$25.08 CLP 24.7K

82.18%

Tennis Court (1 Hour on Weekend)

$34.10 PAB 34.10

$5.01 CLP 4,929

580.64%

Cinema Ticket

$8.47 PAB 8.47

$4.03 CLP 3,965

110.17%

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

$553 PAB 553

$259 CLP 255.0K

113.66%

International Primary School, 1 Child (Yearly)

$9,719 PAB 9,719

$29.0K CLP 28.5M

-66.48%

Jeans (Levis 501 Or Similar)

$66.4 PAB 66.4

$46.90 CLP 46.2K

41.66%

Summer Dress (H&M, Zara, etc)

$47.39 PAB 47.39

$25.18 CLP 24.8K

88.20%

Sport Shoes (Adidas, Nike)

$95.7 PAB 95.7

$61.2 CLP 60.2K

56.39%

Men's Leather Business Shoes

$113 PAB 113

$81.2 CLP 79.9K

38.75%

1-bedroom Apartment, City Center (Monthly)

$1,322 PAB 1,322

1-bedroom Apartment, Outside City Center (Monthly)

$874 PAB 874

3-bedroom Apartment, City Center (Monthly)

$2,153 PAB 2,153

3-bedroom Apartment, Outside City Center (Monthly)

$1,580 PAB 1,580

Buy Apartment in City Center (m2)

$3,097 PAB 3,097

Buy Apartment Outside City Center (m2)

$1,698 PAB 1,698

Average Monthly Net Salary (After Tax)

$914 PAB 914

$602 CLP 592.4K

51.85%

20-Year Fixed Mortgage Interest Rate (Annual %)

6.39

27.80%

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

Last update for Panama City: October 20, 2026

Last update for Coquimbo: October 17, 2026

Monthly budget structure

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

Accommodation & Living

Panama City

$874 47.1%

Coquimbo

- * 0% 100%

Groceries & Markets

Panama City

$327 17.6%

Coquimbo

$154 * 27.8% 52.9% $173

Monthly Utilities & Internet

Panama City

$208 11.2%

Coquimbo

$114 * 20.6% 45.2% $94

Eating Out

Panama City

$207 11.2%

Coquimbo

$153 27.7% 26% $54

Clothing & Footwear

Panama City

$145 7.8%

Coquimbo

$96 17.4% 33.4% $48

Sport & Entertainment

Panama City

$63 3.4%

Coquimbo

$33 6% 47.1% $29

Getting Around

Panama City

$33 1.8%

Coquimbo

$3.4 * 0.6% 89.9% $30

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

Cost Breakdown

Panama City pays 52% 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 $47.00 in Coquimbo for a mid-range dinner for two. Groceries echo the gap at $327 vs $154 per month, with Coquimbo cheaper across the board.

Good to know

🇵🇦 Panama City

🇨🇱 Coquimbo

🕒 Local time

11:11 11:11 AM

13:11 1:11 PM

2 h ahead of Panama City

🌤 Weather

👥 Population

1,086,990 Capital

204,068

💱 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 20, 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 20, 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 Coquimbo 4,420 km ≈ 6 h nonstop flight

From you

Panama City
Coquimbo

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 Coquimbo: Cost of Living - Frequently Asked Questions

Panama City and Coquimbo differ by about 235% in total monthly costs ($1,857 vs $555 including rent). Coquimbo is meaningfully more affordable – a gap that matters a lot on a fixed or modest income.

Average pay runs 52% 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.

Childcare runs $553 in Panama City versus $259 in Coquimbo. Over years of preschool, even a modest monthly gap compounds into a major financial factor for families.

Dining out is cheaper in Coquimbo – a meal for two runs $47.00 versus $48.00 in Panama City. If you eat out regularly, this makes a real dent in your monthly spending.

At $555 in Coquimbo versus $1,857 in Panama City, a $2,000 budget is realistic in Coquimbo but tight or insufficient in Panama City. The gap between the two cities makes Coquimbo 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 Coquimbo gentler on the wallet – expenses run 235% less than in Panama City. Beyond cost, consider language, visa policies, and how big the international community is in each city.