Last update: Oct 2026

Cost of Living Comparison Between Panama City and Iquique

For one person, living is cheaper in Iquique: $999 a month against $1,855 in Panama City, rent and utilities included – about $10,300 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
49

Cost of Living Index in Iquique
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Iquique Living Index

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Panama City

🇵🇦 Panama

$1,855

/mo nomad

Iquique

🇨🇱 Chile

$999

/mo nomad

Monthly Cost of Living

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

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

Monthly costs for one person with rent: $1,855 in Panama City versus $999 in Iquique.

Panama City $1,855
Iquique $999

Estimated couple costs with rent: $2,804 in Panama City versus $1,590 in Iquique.

Panama City $2,804
Iquique $1,590

Monthly costs for a family of three with rent: $3,753 in Panama City versus $2,180 in Iquique.

Panama City $3,753
Iquique $2,180

Living in Panama City is roughly 86% more expensive than in Iquique, and outside of rent the biggest gap is in groceries.

The two cities straddle the global median: Panama City is 37% above, Iquique is 26% below.

Meal at Budget Restaurant

$11.63 PAB 11.63

$7.48 CLP 7,359

55.48%

Three-Course Dinner for Two, Mid-Range

$47.92 PAB 47.92

$40.30 CLP 39.7K

18.91%

Fast Food Meal (McDonalds, etc)

$7.96 PAB 7.96

$7.04 CLP 6,934

13.07%

Cappuccino

$4.22 PAB 4.22

$3.44 CLP 3,384

22.67%

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

$2.01 PAB 2.01

$1.23 CLP 1,210

63.41%

Water (0.33 liter bottle)

$1.56 PAB 1.56

$0.95 CLP 937

64.21%

Local Beer (0.5 liter draught)

$3.39 PAB 3.39

$3.27 CLP 3,222

3.67%

Imported Beer (0.33 liter bottle)

$3.94 PAB 3.94

$3.61 CLP 3,552

9.14%

Milk (1 liter)

$1.85 PAB 1.85

$1.09 CLP 1,077

69.72%

White Bread (500g)

$2.56 PAB 2.56

$1.13 CLP 1,111

126.55%

Rice (white) (1kg)

$3.48 PAB 3.48

$1.31 CLP 1,285

165.65%

Eggs

$2.69 PAB 2.69

$3.02 CLP 2,972

-10.93%

Local Cheese (1kg)

$12.57 PAB 12.57

$10.12 CLP 9,962

24.21%

Chicken Fillets (1kg)

$6.83 PAB 6.83

$10.05 CLP 9,896

-32.04%

Beef Round Steak (1kg)

$10.58 PAB 10.58

Apples (1kg)

$4.18 PAB 4.18

$2.31 CLP 2,273

80.95%

Banana (1kg)

$1.83 PAB 1.83

$2.15 CLP 2,121

-14.88%

Oranges (1kg)

$4.20 PAB 4.20

$1.51 CLP 1,484

178.15%

Tomato (1kg)

$4.03 PAB 4.03

$1.06 CLP 1,040

280.19%

Potato (1kg)

$3.48 PAB 3.48

$0.73 CLP 722

376.71%

Onion (1kg)

$4.22 PAB 4.22

$0.64 CLP 628

559.37%

Lettuce (1 head)

$2.41 PAB 2.41

$1.00 CLP 981

141.00%

Water (1.5 liter bottle)

$1.69 PAB 1.69

$1.35 CLP 1,326

25.19%

Cigarettes 20 Pack (Marlboro, Camel)

$6.14 PAB 6.14

$7.25 CLP 7,139

-15.31%

Wine (Bottle)

$11.30 PAB 11.30

$7.86 CLP 7,734

43.77%

Local Beer (0.5 liter bottle)

$1.42 PAB 1.42

Imported Beer (0.33 liter bottle)

$2.73 PAB 2.73

$0.84 CLP 828

225.00%

One-way Ticket (Public Transport)

$0.33 PAB 0.33

$0.69 CLP 679

-52.17%

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

$1.44 CLP 1,419

-13.19%

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

$21.2K PAB 21.2K

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

$21.0K PAB 21.0K

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

$130 PAB 130

$88.6 CLP 87.2K

46.50%

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

$28.13 PAB 28.13

$15.63 CLP 15.4K

79.97%

Internet (50+ Mbps, Unlimited Data)

$48.21 PAB 48.21

$23.17 CLP 22.8K

108.07%

Gym Membership (Monthly)

$45.78 PAB 45.78

$50.7 CLP 49.9K

-9.70%

Tennis Court (1 Hour on Weekend)

$34.92 PAB 34.92

Cinema Ticket

$8.67 PAB 8.67

$6.91 CLP 6,803

25.47%

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

$544 PAB 544

$254 CLP 249.8K

114.47%

International Primary School, 1 Child (Yearly)

$9,697 PAB 9,697

Jeans (Levis 501 Or Similar)

$66.8 PAB 66.8

$30.11 CLP 29.6K

121.69%

Summer Dress (H&M, Zara, etc)

$49.14 PAB 49.14

$23.04 CLP 22.7K

113.28%

Sport Shoes (Adidas, Nike)

$93.9 PAB 93.9

$46.57 CLP 45.8K

101.52%

Men's Leather Business Shoes

$112 PAB 112

$58.3 CLP 57.4K

91.31%

1-bedroom Apartment, City Center (Monthly)

$1,257 PAB 1,257

$422 CLP 415.4K

197.85%

1-bedroom Apartment, Outside City Center (Monthly)

$875 PAB 875

$382 CLP 375.7K

129.22%

3-bedroom Apartment, City Center (Monthly)

$2,155 PAB 2,155

$683 CLP 671.9K

215.73%

3-bedroom Apartment, Outside City Center (Monthly)

$1,564 PAB 1,564

$781 CLP 769.3K

100.10%

Buy Apartment in City Center (m2)

$3,122 PAB 3,122

$1,718 CLP 1.7M

81.75%

Buy Apartment Outside City Center (m2)

$1,709 PAB 1,709

$1,926 CLP 1.9M

-11.24%

Average Monthly Net Salary (After Tax)

$916 PAB 916

$958 CLP 943.5K

-4.44%

20-Year Fixed Mortgage Interest Rate (Annual %)

6.39

7.5

-14.80%

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

Last update for Panama City: October 10, 2026

Last update for Iquique: October 10, 2026

Monthly budget structure

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

Accommodation & Living

Panama City

$875 47.2%

Iquique

$382 38.2% 56.4% $493

Groceries & Markets

Panama City

$325 17.5%

Iquique

$197 * 19.7% 39.4% $128

Eating Out

Panama City

$207 11.1%

Iquique

$155 15.5% 25.2% $52

Monthly Utilities & Internet

Panama City

$206 11.1%

Iquique

$127 12.8% 38.2% $79

Clothing & Footwear

Panama City

$145 7.8%

Iquique

$71 7.1% 50.8% $73

Sport & Entertainment

Panama City

$63 3.4%

Iquique

$65 6.5% 2.2% $1.4

Getting Around

Panama City

$34 1.9%

Iquique

$2.8 * 0.3% 92% $32

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

Cost Breakdown

A one-bedroom apartment in the center runs $1,257 in Panama City and $422 in Iquique. Housing cost is often the main lever when comparing two cities.

Iquique pays 5% more on average while also being the cheaper of the two. The combined effect is a noticeably stronger local purchasing power.

Dining out: $48.00 in Panama City vs $40.00 in Iquique for a mid-range dinner for two. Groceries echo the gap at $325 vs $197 per month, with Iquique cheaper across the board.

Good to know

🇵🇦 Panama City

🇨🇱 Iquique

🕒 Local time

12:32 12:32 PM

14:32 2:32 PM

2 h ahead of Panama City

🌤 Weather

👥 Population

1,086,990 Capital

188,003

💱 Currency

Panamanian Balboa PAB B/.

Chilean Peso CLP $

📈 Exchange rate

1 PAB = 1 USD

1 PAB = 0.889 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 17, 2026: 1 USD = 1 PAB (1 PAB = 1 USD). 1 EUR = 1.12 PAB (1 PAB = 0.889 EUR).

Chilean Peso exchange rates as of October 17, 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 Iquique 3,400 km ≈ 4 h 45 min nonstop flight

From you

Panama City
Iquique

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 Iquique: Cost of Living - Frequently Asked Questions

Panama City and Iquique differ by about 86% in total monthly costs ($1,855 vs $999 including rent). Iquique is meaningfully more affordable – a gap that matters a lot on a fixed or modest income.

On paper, salaries run 5% lower in Iquique. That's worth factoring in alongside costs, though remote workers earning in a stronger currency may not notice the difference at all.

Rent for a central apartment: $1,257 in Panama City versus $422 in Iquique. Housing is usually the single largest factor when comparing overall living costs between the two.

Supermarket bills run roughly 65% higher in Panama City. For households that cook at home regularly, that difference adds up over a month.

All in, you'll spend $1,855 per month in Panama City versus $999 in Iquique – a 86% gap that adds up to real savings over time for anyone picking the cheaper option.

At $999 in Iquique versus $1,855 in Panama City, a $2,000 budget is realistic in Iquique but tight or insufficient in Panama City. The gap between the two cities makes Iquique 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 Iquique gentler on the wallet – expenses run 86% less than in Panama City. Beyond cost, consider language, visa policies, and how big the international community is in each city.