Last update: Oct 2026

Cost of Living Comparison Between Panama City and New Westminster

For one person, living is cheaper in Panama City: $1,855 a month against $2,526 in New Westminster, rent and utilities included – about $8,100 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
123

Cost of Living Index in New Westminster
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New Westminster Living Index

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Panama City

🇵🇦 Panama

$1,855

/mo nomad

New Westminster

🇨🇦 Canada

$2,526

/mo nomad

Monthly Cost of Living

How much you'll spend in Panama City and in New Westminster

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

A single person spends $1,855 per month in Panama City vs $2,526 in New Westminster, rent included.

Panama City $1,855
New Westminster $2,526

A couple spends around $2,804 per month in Panama City vs $3,900 in New Westminster, rent included.

Panama City $2,804
New Westminster $3,900

A family of three spends $3,753 per month in Panama City vs $5,273 in New Westminster, rent included.

Panama City $3,753
New Westminster $5,273

Panama City is about 27% cheaper than New Westminster, and outside of rent the biggest gap is in transport.

Both Panama City and New Westminster sit above the global median – Panama City by 37%, New Westminster by 87%.

Meal at Budget Restaurant

$11.63 PAB 11.63

$19.28 CA$27.40

-39.68%

Three-Course Dinner for Two, Mid-Range

$47.92 PAB 47.92

$49.65 CA$70.6

-3.48%

Fast Food Meal (McDonalds, etc)

$7.96 PAB 7.96

$10.12 CA$14.39

-21.34%

Cappuccino

$4.22 PAB 4.22

$3.47 CA$4.93

21.61%

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

$2.01 PAB 2.01

$1.85 CA$2.63

8.65%

Water (0.33 liter bottle)

$1.56 PAB 1.56

$1.55 CA$2.20

0.65%

Local Beer (0.5 liter draught)

$3.39 PAB 3.39

$5.77 CA$8.20

-41.25%

Imported Beer (0.33 liter bottle)

$3.94 PAB 3.94

$5.63 CA$8.00

-30.02%

Milk (1 liter)

$1.85 PAB 1.85

$1.76 CA$2.50

5.11%

White Bread (500g)

$2.56 PAB 2.56

$2.34 CA$3.32

9.40%

Rice (white) (1kg)

$3.48 PAB 3.48

$3.45 CA$4.90

0.87%

Eggs

$2.69 PAB 2.69

$3.01 CA$4.28

-10.63%

Local Cheese (1kg)

$12.57 PAB 12.57

$10.80 CA$15.35

16.39%

Chicken Fillets (1kg)

$6.83 PAB 6.83

$15.33 CA$21.79

-55.45%

Beef Round Steak (1kg)

$10.58 PAB 10.58

$26.67 CA$37.91

-60.33%

Apples (1kg)

$4.18 PAB 4.18

$3.77 CA$5.37

10.88%

Banana (1kg)

$1.83 PAB 1.83

$1.48 CA$2.10

23.65%

Oranges (1kg)

$4.20 PAB 4.20

$3.60 CA$5.11

16.67%

Tomato (1kg)

$4.03 PAB 4.03

$3.66 CA$5.20

10.11%

Potato (1kg)

$3.48 PAB 3.48

$2.33 CA$3.32

49.36%

Onion (1kg)

$4.22 PAB 4.22

$2.21 CA$3.15

90.95%

Lettuce (1 head)

$2.41 PAB 2.41

$2.33 CA$3.31

3.43%

Water (1.5 liter bottle)

$1.69 PAB 1.69

$1.80 CA$2.56

-6.11%

Cigarettes 20 Pack (Marlboro, Camel)

$6.14 PAB 6.14

$15.33 CA$21.79

-59.95%

Wine (Bottle)

$11.30 PAB 11.30

$10.63 CA$15.11

6.30%

Local Beer (0.5 liter bottle)

$1.42 PAB 1.42

$2.02 CA$2.87

-29.70%

Imported Beer (0.33 liter bottle)

$2.73 PAB 2.73

$2.72 CA$3.86

0.37%

One-way Ticket (Public Transport)

$0.33 PAB 0.33

$2.52 CA$3.58

-86.90%

Public Transport Monthly Pass (Regular Price)

$21.23 PAB 21.23

$90.3 CA$128

-76.48%

Taxi Start (Normal Tariff)

$2.52 PAB 2.52

$2.05 CA$2.91

22.93%

Taxi (Normal Tariff) (1km)

$1.86 PAB 1.86

$1.72 CA$2.44

8.14%

Taxi 1hour Waiting (Normal Tariff)

$21.78 PAB 21.78

$22.76 CA$32.34

-4.31%

Gasoline (1 liter)

$1.25 PAB 1.25

$1.26 CA$1.79

-0.79%

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

$21.2K PAB 21.2K

$23.9K CA$33.9K

-10.98%

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

$21.0K PAB 21.0K

$19.0K CA$27.0K

10.69%

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

$130 PAB 130

$139 CA$197

-6.40%

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

$28.13 PAB 28.13

$42.09 CA$59.8

-33.17%

Internet (50+ Mbps, Unlimited Data)

$48.21 PAB 48.21

$63.0 CA$89.5

-23.48%

Gym Membership (Monthly)

$45.78 PAB 45.78

$32.42 CA$46.08

41.21%

Tennis Court (1 Hour on Weekend)

$34.92 PAB 34.92

$17.27 CA$24.55

102.20%

Cinema Ticket

$8.67 PAB 8.67

$11.94 CA$16.96

-27.39%

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

$544 PAB 544

$758 CA$1,078

-28.23%

International Primary School, 1 Child (Yearly)

$9,697 PAB 9,697

$8,536 CA$12.1K

13.60%

Jeans (Levis 501 Or Similar)

$66.8 PAB 66.8

$52.3 CA$74.3

27.70%

Summer Dress (H&M, Zara, etc)

$49.14 PAB 49.14

$41.77 CA$59.4

17.64%

Sport Shoes (Adidas, Nike)

$93.9 PAB 93.9

$77.5 CA$110

21.03%

Men's Leather Business Shoes

$112 PAB 112

$96.6 CA$137

15.45%

1-bedroom Apartment, City Center (Monthly)

$1,257 PAB 1,257

$1,548 CA$2,200

-18.79%

1-bedroom Apartment, Outside City Center (Monthly)

$875 PAB 875

$1,319 CA$1,875

-33.68%

3-bedroom Apartment, City Center (Monthly)

$2,155 PAB 2,155

$2,841 CA$4,038

-24.14%

3-bedroom Apartment, Outside City Center (Monthly)

$1,564 PAB 1,564

$2,620 CA$3,724

-40.31%

Buy Apartment in City Center (m2)

$3,122 PAB 3,122

$4,810 CA$6,836

-35.09%

Buy Apartment Outside City Center (m2)

$1,709 PAB 1,709

$4,025 CA$5,721

-57.53%

Average Monthly Net Salary (After Tax)

$916 PAB 916

$2,989 CA$4,248

-69.36%

20-Year Fixed Mortgage Interest Rate (Annual %)

6.39

4.72

35.38%

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

Last update for Panama City: October 10, 2026

Last update for New Westminster: October 11, 2026

Monthly budget structure

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

Accommodation & Living

Panama City

$875 47.2%

New Westminster

$1.3K 52.2% 50.8% $444

Groceries & Markets

Panama City

$325 17.5%

New Westminster

$396 15.7% 21.6% $70

Eating Out

Panama City

$207 11.1%

New Westminster

$280 11.1% 35.4% $73

Monthly Utilities & Internet

Panama City

$206 11.1%

New Westminster

$244 9.7% 18.3% $38

Clothing & Footwear

Panama City

$145 7.8%

New Westminster

$121 4.8% 16.5% $24

Sport & Entertainment

Panama City

$63 3.4%

New Westminster

$56 2.2% 10.8% $6.8

Getting Around

Panama City

$34 1.9%

New Westminster

$111 4.4% 223% $77

Cost Breakdown

A central one-bedroom costs $1,257 in Panama City versus $1,548 in New Westminster. 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 226% higher in New Westminster, 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 $50.0 in New Westminster. Monthly groceries follow the same trend: $325 vs $396 – making Panama City the more affordable choice for daily food spending.

Good to know

🇵🇦 Panama City

🇨🇦 New Westminster

🕒 Local time

20:33 8:33 PM

18:33 6:33 PM

2 h behind Panama City

🌤 Weather

👥 Population

1,086,990 Capital

58,000

💱 Currency

Panamanian Balboa PAB B/.

Canadian Dollar CAD $

📈 Exchange rate

1 PAB = 1 USD

1 PAB = 0.893 EUR

1 CAD = 0.704 USD

1 CAD = 0.628 EUR

Exchange rates and currency converter

CAD, USD, EUR to PAB – Panamanian Balboa Converter

🇺🇸 United States Dollar ($)

🇵🇦 Panamanian Balboa (B/.)

Panamanian Balboa exchange rates as of October 15, 2026: 1 USD = 1 PAB (1 PAB = 1 USD). 1 EUR = 1.12 PAB (1 PAB = 0.893 EUR).

Canadian Dollar exchange rates as of October 15, 2026: 1 USD = 1.42 CAD (1 CAD = 0.704 USD). 1 EUR = 1.59 CAD (1 CAD = 0.628 EUR).

USD to PAB in detail →

On the map

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Highest

Between locations

Panama City New Westminster 6,010 km ≈ 8 h nonstop flight

From you

Panama City
New Westminster

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 New Westminster: Cost of Living - Frequently Asked Questions

New Westminster costs about 36% more than Panama City, and outside of rent the gap comes mainly from transport. That's enough to noticeably affect everyday spending and lifestyle for anyone choosing between the two.

For a comfortable life, plan on about $2,783 per month in Panama City and $3,790 in New Westminster. 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.

Kindergarten costs $544 per month in Panama City and $758 in New Westminster. For families with young kids, this one expense can tip the scales when choosing between the two cities.

Groceries cost about 22% more in New Westminster, though it depends on what you buy. Local produce may be comparable; imported and premium items show the biggest price gap.

A $2,500 monthly budget goes further in Panama City, where all-in costs run around $1,855, than in New Westminster at $2,526. In Panama City it covers expenses comfortably, while in New Westminster it requires careful planning or may not stretch far enough.

For digital nomads, it depends on budget. Panama City costs $1,855 versus $2,526 in New Westminster. Both have workable remote work infrastructure, but the cost gap matters when income varies month to month.

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, New Westminster makes more sense. Both are solid long-term options with distinct trade-offs.