Last update: Oct 2026

Cost of Living Comparison Between Panama City and Montevideo

For one person, living costs are similar in Panama City and in Montevideo: $1,837 and $1,813 a month, rent and utilities included.

90

Cost of Living Index in Panama City
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Panama City Living Index
86

Cost of Living Index in Montevideo
Learn more

Montevideo Living Index

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Panama City

🇵🇦 Panama

$1,837

/mo nomad

Montevideo

🇺🇾 Uruguay

$1,813

/mo nomad

Monthly Cost of Living

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

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

A single person spends $1,837 per month in Panama City vs $1,813 in Montevideo, rent included.

Panama City $1,837
Montevideo $1,813

A couple spends around $2,825 per month in Panama City vs $2,782 in Montevideo, rent included.

Panama City $2,825
Montevideo $2,782

A family of three spends $3,812 per month in Panama City vs $3,750 in Montevideo, rent included.

Panama City $3,812
Montevideo $3,750

Panama City costs about 1% more than Montevideo, and outside of rent the biggest gap is in eating out.

Both Panama City and Montevideo sit above the global median – Panama City by 37%, Montevideo by 35%.

Meal at Budget Restaurant

$11.34 PAB 11.34

$15.26 UYU 613

-25.69%

Three-Course Dinner for Two, Mid-Range

$47.85 PAB 47.85

$67.4 UYU 2,707

-29.04%

Fast Food Meal (McDonalds, etc)

$8.07 PAB 8.07

$14.37 UYU 577

-43.84%

Cappuccino

$4.02 PAB 4.02

$4.64 UYU 186

-13.36%

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

$1.94 PAB 1.94

$2.73 UYU 110

-28.94%

Water (0.33 liter bottle)

$1.62 PAB 1.62

$2.09 UYU 83.9

-22.49%

Local Beer (0.5 liter draught)

$3.26 PAB 3.26

$4.75 UYU 191

-31.37%

Imported Beer (0.33 liter bottle)

$3.99 PAB 3.99

$3.67 UYU 147

8.72%

Milk (1 liter)

$1.83 PAB 1.83

$1.38 UYU 55.4

32.61%

White Bread (500g)

$2.57 PAB 2.57

$2.77 UYU 111

-7.22%

Rice (white) (1kg)

$3.33 PAB 3.33

$1.69 UYU 67.7

97.04%

Eggs

$2.69 PAB 2.69

$4.52 UYU 182

-40.49%

Local Cheese (1kg)

$12.33 PAB 12.33

$14.17 UYU 569

-12.99%

Chicken Fillets (1kg)

$6.69 PAB 6.69

$12.07 UYU 485

-44.57%

Beef Round Steak (1kg)

$10.40 PAB 10.40

$12.16 UYU 488

-14.47%

Apples (1kg)

$4.16 PAB 4.16

$2.87 UYU 115

44.95%

Banana (1kg)

$1.84 PAB 1.84

$2.75 UYU 110

-33.09%

Oranges (1kg)

$4.18 PAB 4.18

$1.73 UYU 69.4

141.62%

Tomato (1kg)

$4.08 PAB 4.08

$3.24 UYU 130

25.93%

Potato (1kg)

$3.50 PAB 3.50

$2.07 UYU 83.0

69.08%

Onion (1kg)

$4.37 PAB 4.37

$2.07 UYU 83.0

111.11%

Lettuce (1 head)

$2.34 PAB 2.34

$1.38 UYU 55.4

69.57%

Water (1.5 liter bottle)

$1.75 PAB 1.75

$1.85 UYU 74.4

-5.41%

Cigarettes 20 Pack (Marlboro, Camel)

$6.06 PAB 6.06

$5.57 UYU 224

8.80%

Wine (Bottle)

$11.72 PAB 11.72

$8.89 UYU 357

31.83%

Local Beer (0.5 liter bottle)

$1.37 PAB 1.37

$2.29 UYU 92.1

-40.17%

Imported Beer (0.33 liter bottle)

$2.84 PAB 2.84

$2.70 UYU 108

5.19%

One-way Ticket (Public Transport)

$0.36 PAB 0.36

$1.52 UYU 61.2

-76.32%

Public Transport Monthly Pass (Regular Price)

$20.96 PAB 20.96

$73.7 UYU 2,958

-71.54%

Taxi Start (Normal Tariff)

$2.52 PAB 2.52

$1.82 UYU 73.3

38.46%

Taxi (Normal Tariff) (1km)

$1.79 PAB 1.79

$0.40 UYU 16.02

347.50%

Taxi 1hour Waiting (Normal Tariff)

$22.01 PAB 22.01

$10.66 UYU 428

106.47%

Gasoline (1 liter)

$1.25 PAB 1.25

$2.22 UYU 89.0

-43.69%

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

$21.5K PAB 21.5K

$26.7K UYU 1.1M

-19.48%

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

$21.2K PAB 21.2K

$36.7K UYU 1.5M

-42.32%

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

$131 PAB 131

$191 UYU 7,662

-31.26%

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

$27.68 PAB 27.68

$20.40 UYU 819

35.69%

Internet (50+ Mbps, Unlimited Data)

$48.59 PAB 48.59

$44.14 UYU 1,772

10.08%

Gym Membership (Monthly)

$46.11 PAB 46.11

$54.1 UYU 2,174

-14.83%

Tennis Court (1 Hour on Weekend)

$35.01 PAB 35.01

$19.68 UYU 790

77.90%

Cinema Ticket

$8.73 PAB 8.73

$12.33 UYU 495

-29.20%

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

$551 PAB 551

$613 UYU 24.6K

-10.19%

International Primary School, 1 Child (Yearly)

$9,560 PAB 9,560

$11.0K UYU 443.6K

-13.48%

Jeans (Levis 501 Or Similar)

$67.6 PAB 67.6

$103 UYU 4,128

-34.24%

Summer Dress (H&M, Zara, etc)

$48.03 PAB 48.03

$56.1 UYU 2,251

-14.34%

Sport Shoes (Adidas, Nike)

$94.9 PAB 94.9

$124 UYU 4,993

-23.69%

Men's Leather Business Shoes

$113 PAB 113

$130 UYU 5,207

-12.91%

1-bedroom Apartment, City Center (Monthly)

$1,238 PAB 1,238

$705 UYU 28.3K

75.50%

1-bedroom Apartment, Outside City Center (Monthly)

$873 PAB 873

$575 UYU 23.1K

51.75%

3-bedroom Apartment, City Center (Monthly)

$2,197 PAB 2,197

$1,139 UYU 45.7K

92.97%

3-bedroom Apartment, Outside City Center (Monthly)

$1,538 PAB 1,538

$1,016 UYU 40.8K

51.45%

Buy Apartment in City Center (m2)

$3,116 PAB 3,116

$3,349 UYU 134.4K

-6.96%

Buy Apartment Outside City Center (m2)

$1,725 PAB 1,725

$1,942 UYU 78.0K

-11.18%

Average Monthly Net Salary (After Tax)

$934 PAB 934

$1,229 UYU 49.4K

-23.98%

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 3, 2026

Last update for Montevideo: October 5, 2026

Monthly budget structure

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

Accommodation & Living

Panama City

$873 47.2%

Montevideo

$575 32.3% 34.1% $298

Groceries & Markets

Panama City

$324 17.5%

Montevideo

$332 18.7% 2.5% $8.1

Monthly Utilities & Internet

Panama City

$207 11.2%

Montevideo

$255 14.3% 23.1% $48

Eating Out

Panama City

$202 10.9%

Montevideo

$271 15.2% 34.5% $70

Clothing & Footwear

Panama City

$146 7.9%

Montevideo

$186 10.4% 27.7% $40

Sport & Entertainment

Panama City

$64 3.4%

Montevideo

$79 4.4% 24% $15

Getting Around

Panama City

$34 1.8%

Montevideo

$84 4.7% 147% $50

Cost Breakdown

A central one-bedroom costs $1,238 in Panama City versus $705 in Montevideo. 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 32% higher in Montevideo, which reinforces the cost advantage – you earn more and spend less. Purchasing power leans clearly in its favor.

A mid-range dinner for two costs $48.00 in Panama City versus $67.0 in Montevideo. Monthly groceries follow the same trend: $324 vs $332 – making Panama City the more affordable choice for daily food spending.

Good to know

🇵🇦 Panama City

🇺🇾 Montevideo

🕒 Local time

20:57 8:57 PM

22:57 10:57 PM

2 h ahead of Panama City

🌤 Weather

👥 Population

1,086,990 Capital

1,319,108 Capital

💱 Currency

Panamanian Balboa PAB B/.

Uruguayan Peso UYU $U

📈 Exchange rate

1 PAB = 1 USD

1 PAB = 0.892 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 10, 2026: 1 USD = 1 PAB (1 PAB = 1 USD). 1 EUR = 1.12 PAB (1 PAB = 0.892 EUR).

Uruguayan Peso exchange rates as of October 10, 2026: 1 USD = 40.15 UYU (100 UYU = 2.49 USD). 1 EUR = 45.03 UYU (100 UYU = 2.22 EUR).

USD to PAB in detail →

On the map

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Highest

Between locations

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

From you

Panama City
Montevideo

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 Montevideo: Cost of Living - Frequently Asked Questions

Yes – Panama City is pricier by about 1%, and outside of rent the gap shows up most in eating out.

For a comfortable life, plan on about $2,756 per month in Panama City and $2,720 in Montevideo. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

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

Kindergarten costs $551 per month in Panama City and $613 in Montevideo. For families with young kids, this one expense can tip the scales when choosing between the two cities.

Interestingly, groceries are about 3% cheaper in Panama City – one category where the pricier city actually offers better value, probably thanks to stronger retail competition or local farming.

A $2,500 monthly budget goes further in Montevideo, where all-in costs run around $1,813, than in Panama City at $1,837. In Montevideo it covers expenses comfortably, while in Panama City it requires careful planning or may not stretch far enough.

Families tend to lean toward Montevideo – 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 Montevideo. 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.