Last update: Oct 2026

Cost of Living Comparison Between Panama City and Encarnacion

For one person, living is cheaper in Encarnacion: $838 a month against $1,837 in Panama City, rent and utilities included – about $12,000 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
40

Cost of Living Index in Encarnacion
Learn more

Encarnacion Living Index

Jump to prices

Panama City

🇵🇦 Panama

$1,837

/mo nomad

Encarnacion

🇵🇾 Paraguay

$838

/mo nomad

Monthly Cost of Living

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

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

Monthly costs for one person with rent: $1,837 in Panama City versus $838 in Encarnacion.

Panama City $1,837
Encarnacion $838

Estimated couple costs with rent: $2,825 in Panama City versus $1,272 in Encarnacion.

Panama City $2,825
Encarnacion $1,272

Monthly costs for a family of three with rent: $3,812 in Panama City versus $1,706 in Encarnacion.

Panama City $3,812
Encarnacion $1,706

Living in Panama City is roughly 119% more expensive than in Encarnacion, and outside of rent the biggest gap is in groceries.

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

Meal at Budget Restaurant

$11.34 PAB 11.34

$4.27 ₲24.2K

165.57%

Three-Course Dinner for Two, Mid-Range

$47.85 PAB 47.85

$34.51 ₲195.9K

38.66%

Fast Food Meal (McDonalds, etc)

$8.07 PAB 8.07

$6.63 ₲37.7K

21.72%

Cappuccino

$4.02 PAB 4.02

$2.49 ₲14.1K

61.45%

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

$1.94 PAB 1.94

$1.48 ₲8,399

31.08%

Water (0.33 liter bottle)

$1.62 PAB 1.62

$0.51 ₲2,914

217.65%

Local Beer (0.5 liter draught)

$3.26 PAB 3.26

$0.96 ₲5,446

239.58%

Imported Beer (0.33 liter bottle)

$3.99 PAB 3.99

$2.03 ₲11.5K

96.55%

Milk (1 liter)

$1.83 PAB 1.83

$1.07 ₲6,064

71.03%

White Bread (500g)

$2.57 PAB 2.57

$0.84 ₲4,768

205.95%

Rice (white) (1kg)

$3.33 PAB 3.33

$1.79 ₲10.2K

86.03%

Eggs

$2.69 PAB 2.69

$1.58 ₲8,972

70.25%

Local Cheese (1kg)

$12.33 PAB 12.33

$5.38 ₲30.5K

129.18%

Chicken Fillets (1kg)

$6.69 PAB 6.69

$3.25 ₲18.4K

105.85%

Beef Round Steak (1kg)

$10.40 PAB 10.40

$5.53 ₲31.4K

88.07%

Apples (1kg)

$4.16 PAB 4.16

$2.04 ₲11.6K

103.92%

Banana (1kg)

$1.84 PAB 1.84

$0.78 ₲4,426

135.90%

Oranges (1kg)

$4.18 PAB 4.18

$0.94 ₲5,351

344.68%

Tomato (1kg)

$4.08 PAB 4.08

$1.65 ₲9,386

147.27%

Potato (1kg)

$3.50 PAB 3.50

$0.90 ₲5,104

288.89%

Onion (1kg)

$4.37 PAB 4.37

$0.88 ₲4,977

396.59%

Lettuce (1 head)

$2.34 PAB 2.34

$0.56 ₲3,163

317.86%

Water (1.5 liter bottle)

$1.75 PAB 1.75

$0.50 ₲2,860

250.00%

Cigarettes 20 Pack (Marlboro, Camel)

$6.06 PAB 6.06

$1.52 ₲8,644

298.68%

Wine (Bottle)

$11.72 PAB 11.72

$5.39 ₲30.6K

117.44%

Local Beer (0.5 liter bottle)

$1.37 PAB 1.37

$0.82 ₲4,629

67.07%

Imported Beer (0.33 liter bottle)

$2.84 PAB 2.84

$1.47 ₲8,345

93.20%

One-way Ticket (Public Transport)

$0.36 PAB 0.36

$0.47 ₲2,658

-23.40%

Public Transport Monthly Pass (Regular Price)

$20.96 PAB 20.96

$35.08 ₲199.1K

-40.25%

Taxi Start (Normal Tariff)

$2.52 PAB 2.52

$1.33 ₲7,575

89.47%

Taxi (Normal Tariff) (1km)

$1.79 PAB 1.79

$0.71 ₲4,004

152.11%

Taxi 1hour Waiting (Normal Tariff)

$22.01 PAB 22.01

$6.72 ₲38.2K

227.53%

Gasoline (1 liter)

$1.25 PAB 1.25

$1.21 ₲6,864

3.31%

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

$21.5K PAB 21.5K

$13.8K ₲78.2M

56.41%

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

$21.2K PAB 21.2K

$26.3K ₲149.5M

-19.55%

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

$131 PAB 131

$44.25 ₲251.2K

196.45%

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

$27.68 PAB 27.68

$13.05 ₲74.0K

112.11%

Internet (50+ Mbps, Unlimited Data)

$48.59 PAB 48.59

$18.56 ₲105.3K

161.80%

Gym Membership (Monthly)

$46.11 PAB 46.11

$30.43 ₲172.7K

51.53%

Tennis Court (1 Hour on Weekend)

$35.01 PAB 35.01

$13.15 ₲74.7K

166.24%

Cinema Ticket

$8.73 PAB 8.73

$5.92 ₲33.6K

47.47%

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

$551 PAB 551

$195 ₲1.1M

181.73%

International Primary School, 1 Child (Yearly)

$9,560 PAB 9,560

$3,335 ₲18.9M

186.70%

Jeans (Levis 501 Or Similar)

$67.6 PAB 67.6

$57.2 ₲324.8K

18.16%

Summer Dress (H&M, Zara, etc)

$48.03 PAB 48.03

$28.13 ₲159.6K

70.74%

Sport Shoes (Adidas, Nike)

$94.9 PAB 94.9

$67.6 ₲383.9K

40.31%

Men's Leather Business Shoes

$113 PAB 113

$69.0 ₲391.9K

63.59%

1-bedroom Apartment, City Center (Monthly)

$1,238 PAB 1,238

$503 ₲2.9M

145.86%

1-bedroom Apartment, Outside City Center (Monthly)

$873 PAB 873

$324 ₲1.8M

169.36%

3-bedroom Apartment, City Center (Monthly)

$2,197 PAB 2,197

$658 ₲3.7M

234.06%

3-bedroom Apartment, Outside City Center (Monthly)

$1,538 PAB 1,538

$523 ₲3.0M

194.36%

Buy Apartment in City Center (m2)

$3,116 PAB 3,116

$1,548 ₲8.8M

101.34%

Buy Apartment Outside City Center (m2)

$1,725 PAB 1,725

$1,403 ₲8.0M

22.89%

Average Monthly Net Salary (After Tax)

$934 PAB 934

$361 ₲2.0M

158.99%

20-Year Fixed Mortgage Interest Rate (Annual %)

6.39

9.5

-32.74%

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

Last update for Panama City: October 3, 2026

Last update for Encarnacion: October 5, 2026

Monthly budget structure

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

Accommodation & Living

Panama City

$873 47.2%

Encarnacion

$324 39.4% 62.9% $549

Groceries & Markets

Panama City

$324 17.5%

Encarnacion

$139 16.9% 57.2% $185

Monthly Utilities & Internet

Panama City

$207 11.2%

Encarnacion

$76 9.2% 63.4% $132

Eating Out

Panama City

$202 10.9%

Encarnacion

$101 12.2% 50% $101

Clothing & Footwear

Panama City

$146 7.9%

Encarnacion

$100 12.1% 31.4% $46

Sport & Entertainment

Panama City

$64 3.4%

Encarnacion

$42 5.1% 33.5% $21

Getting Around

Panama City

$34 1.8%

Encarnacion

$42 5.1% 23.4% $7.9

Cost Breakdown

A one-bedroom apartment in the center runs $1,238 in Panama City and $503 in Encarnacion. Housing cost is often the main lever when comparing two cities.

Panama City pays 159% 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 $35.00 in Encarnacion for a mid-range dinner for two. Groceries echo the gap at $324 vs $139 per month, with Encarnacion cheaper across the board.

Good to know

🇵🇦 Panama City

🇵🇾 Encarnacion

🕒 Local time

07:37 7:37 AM

09:37 9:37 AM

2 h ahead of Panama City

🌤 Weather

👥 Population

1,086,990 Capital

127,600

💱 Currency

Panamanian Balboa PAB B/.

Paraguayan Guarani PYG ₲

📈 Exchange rate

1 PAB = 1 USD

1 PAB = 0.892 EUR

10,000 PYG = 1.76 USD

10,000 PYG = 1.57 EUR

Exchange rates and currency converter

PYG, 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).

Paraguayan Guarani exchange rates as of October 10, 2026: 1 USD = 5,676 PYG (10,000 PYG = 1.76 USD). 1 EUR = 6,361 PYG (10,000 PYG = 1.57 EUR).

USD to PAB in detail →

On the map

Lowest

Highest

Between locations

Panama City Encarnacion 4,780 km ≈ 6 h nonstop flight

From you

Panama City
Encarnacion

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 Encarnacion: Cost of Living - Frequently Asked Questions

Panama City and Encarnacion differ by about 119% in total monthly costs ($1,837 vs $838 including rent). Encarnacion is meaningfully more affordable – a gap that matters a lot on a fixed or modest income.

Average pay runs 159% 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 $503 in Encarnacion. Housing is usually the single largest factor when comparing overall living costs between the two.

All in, you'll spend $1,837 per month in Panama City versus $838 in Encarnacion – a 119% gap that adds up to real savings over time for anyone picking the cheaper option.

A monthly transit pass in Encarnacion runs roughly 67% less than in Panama City. Both cities have functional networks, but the price difference matters if you're watching your budget.

At $838 in Encarnacion versus $1,837 in Panama City, a $2,000 budget is realistic in Encarnacion but tight or insufficient in Panama City. The gap between the two cities makes Encarnacion 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.

Safety-wise, Panama City and Encarnacion are on par. Petty crime is typical for cities this size, and most residents feel comfortable going about their daily routines in either place.

Expats usually find Encarnacion gentler on the wallet – expenses run 119% less than in Panama City. Beyond cost, consider language, visa policies, and how big the international community is in each city.