Last update: Oct 2026

Cost of Living Comparison Between Panama City and Monterey, CA

For one person, living is cheaper in Panama City: $1,857 a month against $3,616 in Monterey, CA, rent and utilities included – about $21,100 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
173

Cost of Living Index in Monterey, CA
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Monterey, CA Living Index

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Panama City

🇵🇦 Panama

$1,857

/mo nomad

Monterey, CA

🇺🇸 United States

$3,616

/mo nomad

Monthly Cost of Living

How much you'll spend in Panama City and in Monterey, CA

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

A single person spends $1,857 per month in Panama City vs $3,616 in Monterey, CA, rent included.

Panama City $1,857
Monterey, CA $3,616

A couple spends around $2,815 per month in Panama City vs $5,349 in Monterey, CA, rent included.

Panama City $2,815
Monterey, CA $5,349

A family of three spends $3,773 per month in Panama City vs $7,082 in Monterey, CA, rent included.

Panama City $3,773
Monterey, CA $7,082

Panama City is about 49% cheaper than Monterey, CA, and outside of rent the biggest gap is in eating out.

Both Panama City and Monterey, CA sit above the global median – Panama City by 37%, Monterey, CA by 167%.

Meal at Budget Restaurant

$11.68 PAB 11.68

$20.27 $20.27

-42.38%

Three-Course Dinner for Two, Mid-Range

$47.76 PAB 47.76

$78.6 $78.6

-39.23%

Fast Food Meal (McDonalds, etc)

$8.12 PAB 8.12

$12.10 $12.10

-32.89%

Cappuccino

$4.23 PAB 4.23

$5.22 $5.22

-18.97%

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

$1.92 PAB 1.92

$3.20 $3.20

-40.00%

Water (0.33 liter bottle)

$1.58 PAB 1.58

$1.62 $1.62

-2.47%

Local Beer (0.5 liter draught)

$3.31 PAB 3.31

$5.45 $5.45

-39.27%

Imported Beer (0.33 liter bottle)

$3.98 PAB 3.98

$6.06 $6.06

-34.32%

Milk (1 liter)

$1.92 PAB 1.92

$1.65 $1.65

16.36%

White Bread (500g)

$2.63 PAB 2.63

$3.17 $3.17

-17.03%

Rice (white) (1kg)

$3.39 PAB 3.39

$2.63 $2.63

28.90%

Eggs

$2.67 PAB 2.67

$4.57 $4.57

-41.58%

Local Cheese (1kg)

$12.21 PAB 12.21

$9.57 $9.57

27.59%

Chicken Fillets (1kg)

$6.91 PAB 6.91

$13.38 $13.38

-48.36%

Beef Round Steak (1kg)

$10.58 PAB 10.58

$6.12 $6.12

72.88%

Apples (1kg)

$4.16 PAB 4.16

$3.66 $3.66

13.66%

Banana (1kg)

$1.97 PAB 1.97

$1.20 $1.20

64.17%

Oranges (1kg)

$4.06 PAB 4.06

$3.22 $3.22

26.09%

Tomato (1kg)

$4.18 PAB 4.18

$4.00 $4.00

4.50%

Potato (1kg)

$3.47 PAB 3.47

$2.75 $2.75

26.18%

Onion (1kg)

$4.26 PAB 4.26

$1.96 $1.96

117.35%

Lettuce (1 head)

$2.44 PAB 2.44

$1.74 $1.74

40.23%

Water (1.5 liter bottle)

$1.69 PAB 1.69

$1.25 $1.25

35.20%

Cigarettes 20 Pack (Marlboro, Camel)

$5.83 PAB 5.83

$11.59 $11.59

-49.70%

Wine (Bottle)

$11.43 PAB 11.43

$17.31 $17.31

-33.97%

Local Beer (0.5 liter bottle)

$1.38 PAB 1.38

$2.73 $2.73

-49.45%

Imported Beer (0.33 liter bottle)

$2.76 PAB 2.76

$1.85 $1.85

49.19%

One-way Ticket (Public Transport)

$0.33 PAB 0.33

$2.02 $2.02

-83.66%

Public Transport Monthly Pass (Regular Price)

$20.63 PAB 20.63

$52.9 $52.9

-60.96%

Taxi Start (Normal Tariff)

$2.55 PAB 2.55

$1.58 $1.58

61.39%

Taxi (Normal Tariff) (1km)

$1.78 PAB 1.78

$0.95 $0.95

87.37%

Taxi 1hour Waiting (Normal Tariff)

$22.17 PAB 22.17

$35.04 $35.04

-36.73%

Gasoline (1 liter)

$1.24 PAB 1.24

$1.53 $1.53

-18.95%

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

$24.4K PAB 24.4K

$28.9K $28.9K

-15.50%

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

$21.3K PAB 21.3K

$25.8K $25.8K

-17.44%

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

$131 PAB 131

$238 $238

-44.85%

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

$27.83 PAB 27.83

$75.1 $75.1

-62.95%

Internet (50+ Mbps, Unlimited Data)

$49.32 PAB 49.32

$71.7 $71.7

-31.22%

Gym Membership (Monthly)

$45.69 PAB 45.69

$84.1 $84.1

-45.66%

Tennis Court (1 Hour on Weekend)

$34.10 PAB 34.10

$10.63 $10.63

220.79%

Cinema Ticket

$8.47 PAB 8.47

$12.75 $12.75

-33.57%

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

$553 PAB 553

$555 $555

-0.24%

International Primary School, 1 Child (Yearly)

$9,719 PAB 9,719

$12.5K $12.5K

-22.42%

Jeans (Levis 501 Or Similar)

$66.4 PAB 66.4

$76.8 $76.8

-13.46%

Summer Dress (H&M, Zara, etc)

$47.39 PAB 47.39

$90.2 $90.2

-47.47%

Sport Shoes (Adidas, Nike)

$95.7 PAB 95.7

$129 $129

-25.75%

Men's Leather Business Shoes

$113 PAB 113

$135 $135

-16.25%

1-bedroom Apartment, City Center (Monthly)

$1,322 PAB 1,322

$2,490 $2,490

-46.89%

1-bedroom Apartment, Outside City Center (Monthly)

$874 PAB 874

$2,205 $2,205

-60.36%

3-bedroom Apartment, City Center (Monthly)

$2,153 PAB 2,153

$4,056 $4,056

-46.92%

3-bedroom Apartment, Outside City Center (Monthly)

$1,580 PAB 1,580

$4,027 $4,027

-60.75%

Buy Apartment in City Center (m2)

$3,097 PAB 3,097

$7,909 $7,909

-60.84%

Buy Apartment Outside City Center (m2)

$1,698 PAB 1,698

$5,838 $5,838

-70.91%

Average Monthly Net Salary (After Tax)

$914 PAB 914

$4,771 $4,771

-80.84%

20-Year Fixed Mortgage Interest Rate (Annual %)

6.39

6.62

-3.47%

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

Last update for Panama City: October 20, 2026

Last update for Monterey, CA: October 20, 2026

Monthly budget structure

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

Accommodation & Living

Panama City

$874 47.1%

Monterey, CA

$2.2K 61% 152% $1.3K

Groceries & Markets

Panama City

$327 17.6%

Monterey, CA

$335 9.3% 2.7% $8.9

Monthly Utilities & Internet

Panama City

$208 11.2%

Monterey, CA

$385 10.6% 84.7% $176

Eating Out

Panama City

$207 11.2%

Monterey, CA

$320 8.8% 54.4% $113

Clothing & Footwear

Panama City

$145 7.8%

Monterey, CA

$194 5.4% 33.6% $49

Sport & Entertainment

Panama City

$63 3.4%

Monterey, CA

$110 3% 75% $47

Getting Around

Panama City

$33 1.8%

Monterey, CA

$67 1.9% 101% $34

Cost Breakdown

A central one-bedroom costs $1,322 in Panama City versus $2,490 in Monterey, CA. Rent is usually the largest line item in a monthly budget, so the gap here sets the tone for the overall comparison.

Salaries run about 422% higher in Monterey, CA, which partly offsets the higher cost of living there. Purchasing power depends on which expenses matter most to you.

A mid-range dinner for two costs $48.00 in Panama City versus $79.0 in Monterey, CA. Monthly groceries follow the same trend: $327 vs $335 – making Panama City the more affordable choice for daily food spending.

Good to know

🇵🇦 Panama City

🇺🇸 Monterey, CA

🕒 Local time

17:11 5:11 PM

15:11 3:11 PM

2 h behind Panama City

🌤 Weather

👥 Population

1,086,990 Capital

28,803

💱 Currency

Panamanian Balboa PAB B/.

United States Dollar USD $

📈 Exchange rate

1 PAB = 1 USD

1 PAB = 0.89 EUR

1 USD = 0.89 EUR

Exchange rates and currency converter

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).

United States Dollar exchange rates as of October 20, 2026: 1 EUR = 1.12 USD (1 USD = 0.89 EUR).

USD to PAB in detail →

On the map

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Between locations

Panama City Monterey, CA 5,250 km ≈ 7 h nonstop flight

From you

Panama City
Monterey, CA

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 Monterey, CA: Cost of Living - Frequently Asked Questions

Yes – Monterey, CA is pricier by about 95%, and outside of rent the gap shows up most in eating out.

For a comfortable life, plan on about $2,786 per month in Panama City and $5,424 in Monterey, CA. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Rent is clearly cheaper in Panama City, especially for central apartments. Housing is actually the single biggest factor behind the overall cost gap between these two cities.

Monthly expenses with rent come to $1,857 in Panama City and $3,616 in Monterey, CA. That's a gap of about 95%.

Public transport costs about 156% less in Panama City. For daily commuters, that gap adds up to noticeable savings over a year.

A $2,500 monthly budget goes further in Panama City, where all-in costs run around $1,857, than in Monterey, CA at $3,616. In Panama City it covers expenses comfortably, while in Monterey, CA it requires careful planning or may not stretch far enough.

Families tend to lean toward Panama City – lower housing and cheaper childcare make a real difference, especially on a single income or when paying for private education.

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