Last update: Oct 2026

Cost of Living Comparison Between Panama City and Minas

For one person, living is cheaper in Minas: $1,069 a month against $1,857 in Panama City, rent and utilities included – about $9,500 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
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Panama City Living Index
52

Cost of Living Index in Minas
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Minas Living Index

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Panama City

🇵🇦 Panama

$1,857

/mo nomad

Minas

🇺🇾 Uruguay

$1,069

/mo nomad

Monthly Cost of Living

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

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

A single person spends $1,857 per month in Panama City vs $1,069 in Minas, rent included.

Panama City $1,857
Minas $1,069

A couple spends around $2,815 per month in Panama City vs $1,734 in Minas, rent included.

Panama City $2,815
Minas $1,734

A family of three spends $3,773 per month in Panama City vs $2,400 in Minas, rent included.

Panama City $3,773
Minas $2,400

Panama City costs about 74% more than Minas, and outside of rent the biggest gap is in eating out.

Panama City sits 37% above the global median, while Minas is 21% below – they fall on opposite sides of the world average.

Meal at Budget Restaurant

$11.68 PAB 11.68

$14.86 UYU 597

-21.40%

Three-Course Dinner for Two, Mid-Range

$47.76 PAB 47.76

$69.7 UYU 2,799

-31.52%

Fast Food Meal (McDonalds, etc)

$8.12 PAB 8.12

$14.61 UYU 586

-44.42%

Cappuccino

$4.23 PAB 4.23

$4.66 UYU 187

-9.23%

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

$1.92 PAB 1.92

$2.77 UYU 111

-30.69%

Water (0.33 liter bottle)

$1.58 PAB 1.58

$2.01 UYU 80.7

-21.39%

Local Beer (0.5 liter draught)

$3.31 PAB 3.31

$4.87 UYU 196

-32.03%

Imported Beer (0.33 liter bottle)

$3.98 PAB 3.98

$3.84 UYU 154

3.65%

Milk (1 liter)

$1.92 PAB 1.92

$1.39 UYU 55.8

38.13%

White Bread (500g)

$2.63 PAB 2.63

$2.90 UYU 116

-9.31%

Rice (white) (1kg)

$3.39 PAB 3.39

$1.72 UYU 69.1

97.09%

Eggs

$2.67 PAB 2.67

$4.61 UYU 185

-42.08%

Local Cheese (1kg)

$12.21 PAB 12.21

$14.12 UYU 567

-13.53%

Chicken Fillets (1kg)

$6.91 PAB 6.91

$11.33 UYU 455

-39.01%

Beef Round Steak (1kg)

$10.58 PAB 10.58

$12.00 UYU 482

-11.83%

Apples (1kg)

$4.16 PAB 4.16

$2.86 UYU 115

45.45%

Banana (1kg)

$1.97 PAB 1.97

$2.82 UYU 113

-30.14%

Oranges (1kg)

$4.06 PAB 4.06

$1.73 UYU 69.5

134.68%

Tomato (1kg)

$4.18 PAB 4.18

$3.09 UYU 124

35.28%

Potato (1kg)

$3.47 PAB 3.47

$1.92 UYU 76.9

80.73%

Onion (1kg)

$4.26 PAB 4.26

$2.15 UYU 86.2

98.14%

Lettuce (1 head)

$2.44 PAB 2.44

$1.43 UYU 57.5

70.63%

Water (1.5 liter bottle)

$1.69 PAB 1.69

$1.90 UYU 76.3

-11.05%

Cigarettes 20 Pack (Marlboro, Camel)

$5.83 PAB 5.83

$5.34 UYU 214

9.18%

Wine (Bottle)

$11.43 PAB 11.43

$8.49 UYU 341

34.63%

Local Beer (0.5 liter bottle)

$1.38 PAB 1.38

$2.26 UYU 90.6

-38.94%

Imported Beer (0.33 liter bottle)

$2.76 PAB 2.76

$2.84 UYU 114

-2.82%

One-way Ticket (Public Transport)

$0.33 PAB 0.33

$0.76 UYU 30.54

-56.58%

Public Transport Monthly Pass (Regular Price)

$20.63 PAB 20.63

Taxi Start (Normal Tariff)

$2.55 PAB 2.55

$1.88 UYU 75.5

35.64%

Taxi (Normal Tariff) (1km)

$1.78 PAB 1.78

$0.40 UYU 16.02

345.00%

Taxi 1hour Waiting (Normal Tariff)

$22.17 PAB 22.17

$10.47 UYU 420

111.75%

Gasoline (1 liter)

$1.24 PAB 1.24

$2.16 UYU 86.5

-42.59%

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

$24.4K PAB 24.4K

$26.4K UYU 1.1M

-7.68%

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

$21.3K PAB 21.3K

$36.8K UYU 1.5M

-42.18%

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

$131 PAB 131

$186 UYU 7,459

-29.35%

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

$27.83 PAB 27.83

$20.60 UYU 827

35.10%

Internet (50+ Mbps, Unlimited Data)

$49.32 PAB 49.32

$45.30 UYU 1,818

8.87%

Gym Membership (Monthly)

$45.69 PAB 45.69

Tennis Court (1 Hour on Weekend)

$34.10 PAB 34.10

Cinema Ticket

$8.47 PAB 8.47

$12.43 UYU 499

-31.86%

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

$553 PAB 553

$615 UYU 24.7K

-10.00%

International Primary School, 1 Child (Yearly)

$9,719 PAB 9,719

$11.0K UYU 443.2K

-11.99%

Jeans (Levis 501 Or Similar)

$66.4 PAB 66.4

$104 UYU 4,185

-36.29%

Summer Dress (H&M, Zara, etc)

$47.39 PAB 47.39

$56.9 UYU 2,284

-16.73%

Sport Shoes (Adidas, Nike)

$95.7 PAB 95.7

$122 UYU 4,899

-21.64%

Men's Leather Business Shoes

$113 PAB 113

$131 UYU 5,247

-13.84%

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

20-Year Fixed Mortgage Interest Rate (Annual %)

6.39

5.74

11.32%

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

Last update for Panama City: October 20, 2026

Last update for Minas: October 17, 2026

Monthly budget structure

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

Accommodation & Living

Panama City

$874 47.1%

Minas

- * 0% 100%

Groceries & Markets

Panama City

$327 17.6%

Minas

$329 30.8% 0.9% $2.8

Monthly Utilities & Internet

Panama City

$208 11.2%

Minas

$252 23.6% 20.8% $43

Eating Out

Panama City

$207 11.2%

Minas

$270 25.2% 30.3% $63

Clothing & Footwear

Panama City

$145 7.8%

Minas

$186 17.4% 28.5% $41

Sport & Entertainment

Panama City

$63 3.4%

Minas

$25 * 2.3% 60.3% $38

Getting Around

Panama City

$33 1.8%

Minas

$6.9 * 0.7% 79.3% $27

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

Cost Breakdown

A mid-range dinner for two costs $48.00 in Panama City versus $70.0 in Minas. Monthly groceries follow the same trend: $327 vs $329 – making Panama City the more affordable choice for daily food spending.

Good to know

🇵🇦 Panama City

🇺🇾 Minas

🕒 Local time

15:24 3:24 PM

17:24 5:24 PM

2 h ahead of Panama City

🌤 Weather

👥 Population

1,086,990 Capital

38,446

💱 Currency

Panamanian Balboa PAB B/.

Uruguayan Peso UYU $U

📈 Exchange rate

1 PAB = 1 USD

1 PAB = 0.89 EUR

100 UYU = 2.49 USD

100 UYU = 2.22 EUR

Exchange rates and currency converter

UYU, 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).

Uruguayan Peso exchange rates as of October 20, 2026: 1 USD = 40.14 UYU (100 UYU = 2.49 USD). 1 EUR = 45.12 UYU (100 UYU = 2.22 EUR).

USD to PAB in detail →

On the map

Lowest

Highest

Between locations

Panama City Minas 5,460 km ≈ 7 h nonstop flight

From you

Panama City
Minas

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 Minas: Cost of Living - Frequently Asked Questions

Monthly costs with rent: $1,857 in Panama City, $1,069 in Minas – roughly 74% apart. Outside of rent, the biggest gap is in eating out.

For a comfortable life, plan on about $2,786 per month in Panama City and $1,604 in Minas. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Monthly expenses with rent come to $1,857 in Panama City and $1,069 in Minas. That's a gap of about 74%.

Kindergarten costs $553 per month in Panama City and $615 in Minas. For families with young kids, this one expense can tip the scales when choosing between the two cities.

A $2,000 monthly budget goes further in Minas, where all-in costs run around $1,069, than in Panama City at $1,857. In Minas it covers expenses comfortably, while in Panama City it requires careful planning or may not stretch far enough.

It depends on your priorities. Panama City has an edge in some lifestyle areas, with costs from $1,069 in Minas to $1,857 in Panama City. Climate, culture, job market, and personal taste all factor in.

Both have safer and rougher neighborhoods, but overall safety is comparable to other large cities. Neighborhood choice matters more than the city-level comparison – central, well-trafficked areas feel secure in both.

If budget matters most, go with Minas. If higher salaries, better infrastructure, or specific career opportunities are the priority, Panama City makes more sense. Both are solid long-term options with distinct trade-offs.