Last update: Oct 2026

Cost of Living Comparison Between Panama City and Itajubá, MG

For one person, living is cheaper in Itajubá, MG: $867 a month against $1,855 in Panama City, rent and utilities included – about $11,900 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
43

Cost of Living Index in Itajubá, MG
Learn more

Itajubá, MG Living Index

Jump to prices

Panama City

🇵🇦 Panama

$1,855

/mo nomad

Itajubá, MG

🇧🇷 Brazil

$867

/mo nomad

Monthly Cost of Living

How much you'll spend in Panama City and in Itajubá, MG

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

Monthly costs for one person with rent: $1,855 in Panama City versus $867 in Itajubá, MG.

Panama City $1,855
Itajubá, MG $867

Estimated couple costs with rent: $2,804 in Panama City versus $1,285 in Itajubá, MG.

Panama City $2,804
Itajubá, MG $1,285

Monthly costs for a family of three with rent: $3,753 in Panama City versus $1,703 in Itajubá, MG.

Panama City $3,753
Itajubá, MG $1,703

Living in Panama City is roughly 114% more expensive than in Itajubá, MG, and outside of rent the biggest gap is in groceries.

The two cities straddle the global median: Panama City is 37% above, Itajubá, MG is 36% below.

Meal at Budget Restaurant

$11.63 PAB 11.63

$4.56 R$23.13

155.04%

Three-Course Dinner for Two, Mid-Range

$47.92 PAB 47.92

$24.00 R$122

99.67%

Fast Food Meal (McDonalds, etc)

$7.96 PAB 7.96

$4.38 R$22.20

81.74%

Cappuccino

$4.22 PAB 4.22

$1.29 R$6.53

227.13%

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

$2.01 PAB 2.01

$1.11 R$5.64

81.08%

Water (0.33 liter bottle)

$1.56 PAB 1.56

$0.66 R$3.35

136.36%

Local Beer (0.5 liter draught)

$3.39 PAB 3.39

$1.82 R$9.25

86.26%

Imported Beer (0.33 liter bottle)

$3.94 PAB 3.94

$2.93 R$14.84

34.47%

Milk (1 liter)

$1.85 PAB 1.85

$0.95 R$4.80

94.74%

White Bread (500g)

$2.56 PAB 2.56

$1.65 R$8.38

55.15%

Rice (white) (1kg)

$3.48 PAB 3.48

$0.97 R$4.94

258.76%

Eggs

$2.69 PAB 2.69

$2.38 R$12.05

13.03%

Local Cheese (1kg)

$12.57 PAB 12.57

$10.72 R$54.3

17.26%

Chicken Fillets (1kg)

$6.83 PAB 6.83

$3.58 R$18.16

90.78%

Beef Round Steak (1kg)

$10.58 PAB 10.58

$7.88 R$39.97

34.26%

Apples (1kg)

$4.18 PAB 4.18

$2.88 R$14.59

45.14%

Banana (1kg)

$1.83 PAB 1.83

$1.58 R$8.03

15.82%

Oranges (1kg)

$4.20 PAB 4.20

$1.02 R$5.17

311.76%

Tomato (1kg)

$4.03 PAB 4.03

$1.87 R$9.46

115.51%

Potato (1kg)

$3.48 PAB 3.48

$1.08 R$5.48

222.22%

Onion (1kg)

$4.22 PAB 4.22

$1.03 R$5.24

309.71%

Lettuce (1 head)

$2.41 PAB 2.41

$0.67 R$3.38

259.70%

Water (1.5 liter bottle)

$1.69 PAB 1.69

$0.71 R$3.60

138.03%

Cigarettes 20 Pack (Marlboro, Camel)

$6.14 PAB 6.14

$3.05 R$15.47

101.31%

Wine (Bottle)

$11.30 PAB 11.30

$8.14 R$41.29

38.82%

Local Beer (0.5 liter bottle)

$1.42 PAB 1.42

$1.17 R$5.95

21.37%

Imported Beer (0.33 liter bottle)

$2.73 PAB 2.73

$1.59 R$8.05

71.70%

One-way Ticket (Public Transport)

$0.33 PAB 0.33

$1.03 R$5.20

-67.96%

Public Transport Monthly Pass (Regular Price)

$21.23 PAB 21.23

$40.43 R$205

-47.49%

Taxi Start (Normal Tariff)

$2.52 PAB 2.52

$1.21 R$6.13

108.26%

Taxi (Normal Tariff) (1km)

$1.86 PAB 1.86

$0.90 R$4.57

106.67%

Taxi 1hour Waiting (Normal Tariff)

$21.78 PAB 21.78

$9.26 R$46.95

135.21%

Gasoline (1 liter)

$1.25 PAB 1.25

$1.13 R$5.71

10.62%

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

$21.2K PAB 21.2K

$23.7K R$120.2K

-10.47%

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

$21.0K PAB 21.0K

$32.7K R$165.9K

-35.77%

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

$130 PAB 130

$133 R$675

-2.49%

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

$28.13 PAB 28.13

$12.28 R$62.3

129.07%

Internet (50+ Mbps, Unlimited Data)

$48.21 PAB 48.21

$18.57 R$94.1

159.61%

Gym Membership (Monthly)

$45.78 PAB 45.78

$15.62 R$79.2

193.09%

Tennis Court (1 Hour on Weekend)

$34.92 PAB 34.92

$25.34 R$128

37.81%

Cinema Ticket

$8.67 PAB 8.67

$7.82 R$39.62

10.87%

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

$544 PAB 544

$587 R$2,977

-7.34%

International Primary School, 1 Child (Yearly)

$9,697 PAB 9,697

$13.1K R$66.4K

-26.01%

Jeans (Levis 501 Or Similar)

$66.8 PAB 66.8

$42.71 R$217

56.29%

Summer Dress (H&M, Zara, etc)

$49.14 PAB 49.14

$50.0 R$254

-1.76%

Sport Shoes (Adidas, Nike)

$93.9 PAB 93.9

$73.9 R$375

27.03%

Men's Leather Business Shoes

$112 PAB 112

$67.4 R$342

65.53%

1-bedroom Apartment, City Center (Monthly)

$1,257 PAB 1,257

$346 R$1,751

263.84%

1-bedroom Apartment, Outside City Center (Monthly)

$875 PAB 875

$236 R$1,198

270.27%

3-bedroom Apartment, City Center (Monthly)

$2,155 PAB 2,155

$522 R$2,645

313.01%

3-bedroom Apartment, Outside City Center (Monthly)

$1,564 PAB 1,564

$366 R$1,853

327.83%

Buy Apartment in City Center (m2)

$3,122 PAB 3,122

$1,732 R$8,781

80.25%

Buy Apartment Outside City Center (m2)

$1,709 PAB 1,709

$1,177 R$5,969

45.17%

Average Monthly Net Salary (After Tax)

$916 PAB 916

$297 R$1,503

208.86%

20-Year Fixed Mortgage Interest Rate (Annual %)

6.39

11.93

-46.44%

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

Last update for Panama City: October 10, 2026

Last update for Itajubá, MG: October 13, 2026

Monthly budget structure

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

Accommodation & Living

Panama City

$875 47.2%

Itajubá, MG

$236 27.3% 73% $639

Groceries & Markets

Panama City

$325 17.5%

Itajubá, MG

$192 22.2% 40.9% $133

Eating Out

Panama City

$207 11.1%

Itajubá, MG

$87 10.1% 57.8% $120

Monthly Utilities & Internet

Panama City

$206 11.1%

Itajubá, MG

$164 18.9% 20.5% $42

Clothing & Footwear

Panama City

$145 7.8%

Itajubá, MG

$105 12.2% 27.2% $39

Sport & Entertainment

Panama City

$63 3.4%

Itajubá, MG

$31 3.6% 50.5% $32

Getting Around

Panama City

$34 1.9%

Itajubá, MG

$50 5.8% 46.1% $16

Cost Breakdown

A one-bedroom apartment in the center runs $1,257 in Panama City and $346 in Itajubá, MG. Housing cost is often the main lever when comparing two cities.

Panama City pays 209% 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 $24.00 in Itajubá, MG for a mid-range dinner for two. Groceries echo the gap at $325 vs $192 per month, with Itajubá, MG cheaper across the board.

Good to know

🇵🇦 Panama City

🇧🇷 Itajubá, MG

🕒 Local time

04:09 4:09 AM

06:09 6:09 AM

2 h ahead of Panama City

🌤 Weather

👥 Population

1,086,990 Capital

93,073

💱 Currency

Panamanian Balboa PAB B/.

Brazilian Real BRL R$

📈 Exchange rate

1 PAB = 1 USD

1 PAB = 0.89 EUR

1 BRL = 0.197 USD

1 BRL = 0.175 EUR

Exchange rates and currency converter

BRL, USD, EUR to PAB – Panamanian Balboa Converter

🇺🇸 United States Dollar ($)

🇵🇦 Panamanian Balboa (B/.)

Panamanian Balboa exchange rates as of October 18, 2026: 1 USD = 1 PAB (1 PAB = 1 USD). 1 EUR = 1.12 PAB (1 PAB = 0.89 EUR).

Brazilian Real exchange rates as of October 18, 2026: 1 USD = 5.07 BRL (1 BRL = 0.197 USD). 1 EUR = 5.7 BRL (1 BRL = 0.175 EUR).

USD to PAB in detail →

On the map

Lowest

Highest

Between locations

Panama City Itajubá, MG 5,100 km ≈ 7 h nonstop flight

From you

Panama City
Itajubá, MG

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 Itajubá, MG: Cost of Living - Frequently Asked Questions

Panama City and Itajubá, MG differ by about 114% in total monthly costs ($1,855 vs $867 including rent). Itajubá, MG is meaningfully more affordable – a gap that matters a lot on a fixed or modest income.

Average pay runs 209% 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: $1,257 in Panama City versus $346 in Itajubá, MG. Housing is usually the single largest factor when comparing overall living costs between the two.

Childcare runs $544 in Panama City versus $587 in Itajubá, MG. Over years of preschool, even a modest monthly gap compounds into a major financial factor for families.

Supermarket bills run roughly 69% higher in Panama City. For households that cook at home regularly, that difference adds up over a month.

At $867 in Itajubá, MG versus $1,855 in Panama City, a $2,000 budget is realistic in Itajubá, MG but tight or insufficient in Panama City. The gap between the two cities makes Itajubá, MG 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 Itajubá, MG 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 Itajubá, MG gentler on the wallet – expenses run 114% less than in Panama City. Beyond cost, consider language, visa policies, and how big the international community is in each city.