Last update: Oct 2026

Cost of Living Comparison Between Panama City and Los Cabos

For one person, living is cheaper in Los Cabos: $1,371 a month against $1,855 in Panama City, rent and utilities included – about $5,800 less a year. Higher rent and utilities in Panama City outweigh lower spending on other living expenses.

90

Cost of Living Index in Panama City
Learn more

Panama City Living Index
66

Cost of Living Index in Los Cabos
Learn more

Los Cabos Living Index

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Panama City

🇵🇦 Panama

$1,855

/mo nomad

Los Cabos

🇲🇽 Mexico

$1,371

/mo nomad

Monthly Cost of Living

How much you'll spend in Panama City and in Los Cabos

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

Monthly costs for one person with rent: $1,855 in Panama City versus $1,371 in Los Cabos.

Panama City $1,855
Los Cabos $1,371

Estimated couple costs with rent: $2,804 in Panama City versus $2,211 in Los Cabos.

Panama City $2,804
Los Cabos $2,211

Monthly costs for a family of three with rent: $3,753 in Panama City versus $3,051 in Los Cabos.

Panama City $3,753
Los Cabos $3,051

Living in Panama City is roughly 35% more expensive than in Los Cabos, and outside of rent the biggest gap is in eating out.

Both cities are pricier than the global median: Panama City 37% above, Los Cabos 2% above.

Meal at Budget Restaurant

$11.63 PAB 11.63

$22.30 MX$412

-47.85%

Three-Course Dinner for Two, Mid-Range

$47.92 PAB 47.92

$43.70 MX$807

9.66%

Fast Food Meal (McDonalds, etc)

$7.96 PAB 7.96

$13.76 MX$254

-42.15%

Cappuccino

$4.22 PAB 4.22

$5.22 MX$96.5

-19.16%

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

$2.01 PAB 2.01

$2.30 MX$42.51

-12.61%

Water (0.33 liter bottle)

$1.56 PAB 1.56

$2.06 MX$38.06

-24.27%

Local Beer (0.5 liter draught)

$3.39 PAB 3.39

$4.99 MX$92.2

-32.06%

Imported Beer (0.33 liter bottle)

$3.94 PAB 3.94

$8.36 MX$154

-52.87%

Milk (1 liter)

$1.85 PAB 1.85

$1.65 MX$30.46

12.12%

White Bread (500g)

$2.56 PAB 2.56

$2.86 MX$52.8

-10.49%

Rice (white) (1kg)

$3.48 PAB 3.48

$2.38 MX$44.07

46.22%

Eggs

$2.69 PAB 2.69

$2.41 MX$44.49

11.62%

Local Cheese (1kg)

$12.57 PAB 12.57

$8.96 MX$166

40.29%

Chicken Fillets (1kg)

$6.83 PAB 6.83

$9.56 MX$177

-28.56%

Beef Round Steak (1kg)

$10.58 PAB 10.58

$17.76 MX$328

-40.43%

Apples (1kg)

$4.18 PAB 4.18

$4.13 MX$76.4

1.21%

Banana (1kg)

$1.83 PAB 1.83

$1.78 MX$32.89

2.81%

Oranges (1kg)

$4.20 PAB 4.20

$2.93 MX$54.2

43.34%

Tomato (1kg)

$4.03 PAB 4.03

$2.53 MX$46.70

59.29%

Potato (1kg)

$3.48 PAB 3.48

$2.34 MX$43.16

48.72%

Onion (1kg)

$4.22 PAB 4.22

$2.53 MX$46.73

66.80%

Lettuce (1 head)

$2.41 PAB 2.41

$1.24 MX$22.99

94.35%

Water (1.5 liter bottle)

$1.69 PAB 1.69

$0.86 MX$15.94

96.51%

Cigarettes 20 Pack (Marlboro, Camel)

$6.14 PAB 6.14

$4.52 MX$83.6

35.84%

Wine (Bottle)

$11.30 PAB 11.30

$10.32 MX$191

9.50%

Local Beer (0.5 liter bottle)

$1.42 PAB 1.42

$1.61 MX$29.70

-11.80%

Imported Beer (0.33 liter bottle)

$2.73 PAB 2.73

$3.13 MX$57.8

-12.78%

One-way Ticket (Public Transport)

$0.33 PAB 0.33

$1.41 MX$25.98

-76.60%

Public Transport Monthly Pass (Regular Price)

$21.23 PAB 21.23

Taxi Start (Normal Tariff)

$2.52 PAB 2.52

$2.66 MX$49.20

-5.26%

Taxi (Normal Tariff) (1km)

$1.86 PAB 1.86

$1.93 MX$35.59

-3.63%

Taxi 1hour Waiting (Normal Tariff)

$21.78 PAB 21.78

$11.63 MX$215

87.27%

Gasoline (1 liter)

$1.25 PAB 1.25

$1.38 MX$25.43

-9.42%

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

$21.2K PAB 21.2K

$21.0K MX$388.2K

1.10%

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

$21.0K PAB 21.0K

$24.3K MX$449.9K

-13.66%

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

$130 PAB 130

$58.6 MX$1,083

121.61%

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

$28.13 PAB 28.13

$27.70 MX$512

1.55%

Internet (50+ Mbps, Unlimited Data)

$48.21 PAB 48.21

$24.59 MX$454

96.06%

Gym Membership (Monthly)

$45.78 PAB 45.78

$34.48 MX$637

32.77%

Tennis Court (1 Hour on Weekend)

$34.92 PAB 34.92

$20.05 MX$371

74.16%

Cinema Ticket

$8.67 PAB 8.67

$4.28 MX$79.1

102.57%

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

$544 PAB 544

$215 MX$3,971

153.23%

International Primary School, 1 Child (Yearly)

$9,697 PAB 9,697

$4,652 MX$86.0K

108.46%

Jeans (Levis 501 Or Similar)

$66.8 PAB 66.8

$93.3 MX$1,724

-28.46%

Summer Dress (H&M, Zara, etc)

$49.14 PAB 49.14

$40.63 MX$751

20.95%

Sport Shoes (Adidas, Nike)

$93.9 PAB 93.9

$124 MX$2,298

-24.53%

Men's Leather Business Shoes

$112 PAB 112

$89.7 MX$1,657

24.43%

1-bedroom Apartment, City Center (Monthly)

$1,257 PAB 1,257

$612 MX$11.3K

105.50%

1-bedroom Apartment, Outside City Center (Monthly)

$875 PAB 875

$391 MX$7,226

123.75%

3-bedroom Apartment, City Center (Monthly)

$2,155 PAB 2,155

$1,044 MX$19.3K

106.44%

3-bedroom Apartment, Outside City Center (Monthly)

$1,564 PAB 1,564

$781 MX$14.4K

100.28%

Buy Apartment in City Center (m2)

$3,122 PAB 3,122

$1,933 MX$35.7K

61.50%

Buy Apartment Outside City Center (m2)

$1,709 PAB 1,709

$1,131 MX$20.9K

51.16%

Average Monthly Net Salary (After Tax)

$916 PAB 916

$811 MX$15.0K

13.00%

20-Year Fixed Mortgage Interest Rate (Annual %)

6.39

11.3

-43.45%

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

Last update for Panama City: October 10, 2026

Last update for Los Cabos: October 12, 2026

Monthly budget structure

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

Accommodation & Living

Panama City

$875 47.2%

Los Cabos

$391 28.5% 55.3% $484

Groceries & Markets

Panama City

$325 17.5%

Los Cabos

$310 22.6% 4.6% $15

Eating Out

Panama City

$207 11.1%

Los Cabos

$341 24.9% 65.2% $135

Monthly Utilities & Internet

Panama City

$206 11.1%

Los Cabos

$111 8.1% 46.2% $95

Clothing & Footwear

Panama City

$145 7.8%

Los Cabos

$157 11.4% 8.3% $12

Sport & Entertainment

Panama City

$63 3.4%

Los Cabos

$43 3.1% 31.8% $20

Getting Around

Panama City

$34 1.9%

Los Cabos

$18 * 1.3% 47.9% $16

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 $612 in Los Cabos. Housing cost is often the main lever when comparing two cities.

Panama City pays 13% 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 $44.00 in Los Cabos for a mid-range dinner for two. Groceries echo the gap at $325 vs $310 per month, with Los Cabos cheaper across the board.

Good to know

🇵🇦 Panama City

🇲🇽 Los Cabos

🕒 Local time

10:06 10:06 AM

08:06 8:06 AM

2 h behind Panama City

🌤 Weather

👥 Population

1,086,990 Capital

202,694

💱 Currency

Panamanian Balboa PAB B/.

Mexican Peso MXN $

📈 Exchange rate

1 PAB = 1 USD

1 PAB = 0.89 EUR

100 MXN = 5.41 USD

100 MXN = 4.81 EUR

Exchange rates and currency converter

MXN, 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).

Mexican Peso exchange rates as of October 18, 2026: 1 USD = 18.48 MXN (100 MXN = 5.41 USD). 1 EUR = 20.77 MXN (100 MXN = 4.81 EUR).

USD to PAB in detail →

On the map

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Between locations

Panama City Los Cabos 3,590 km ≈ 5 h nonstop flight

From you

Panama City
Los Cabos

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 Los Cabos: Cost of Living - Frequently Asked Questions

Los Cabos is cheaper overall, especially in groceries, utilities, and leisure. The 35% gap adds up to real monthly savings that compound significantly over time.

Average pay runs 13% 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 $612 in Los Cabos. Housing is usually the single largest factor when comparing overall living costs between the two.

Supermarket bills run roughly 5% 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 $1,371 in Los Cabos – a 35% gap that adds up to real savings over time for anyone picking the cheaper option.

At $1,371 in Los Cabos versus $1,855 in Panama City, a $1,500 budget is realistic in Los Cabos but tight or insufficient in Panama City. The gap between the two cities makes Los Cabos the clear choice for anyone on this budget.

For families, Los Cabos is more practical. Housing and childcare are both notably cheaper than in Panama City, and the savings on those two alone free up budget for education, activities, and family trips.

Expats usually find Los Cabos gentler on the wallet – expenses run 35% less than in Panama City. Beyond cost, consider language, visa policies, and how big the international community is in each city.