Last update: Oct 2026

Cost of Living Comparison Between Panama City and Puerto Montt

For one person, living is cheaper in Puerto Montt: $453 a month against $1,855 in Panama City, rent and utilities included – about $16,800 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
50

Cost of Living Index in Puerto Montt
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Puerto Montt Living Index

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Panama City

🇵🇦 Panama

$1,855

/mo nomad

Puerto Montt

🇨🇱 Chile

$453

/mo nomad

Monthly Cost of Living

How much you'll spend in Panama City and in Puerto Montt

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

A single person spends $1,855 per month in Panama City vs $453 in Puerto Montt, rent included.

Panama City $1,855
Puerto Montt $453

A couple spends around $2,804 per month in Panama City vs $758 in Puerto Montt, rent included.

Panama City $2,804
Puerto Montt $758

A family of three spends $3,753 per month in Panama City vs $1,064 in Puerto Montt, rent included.

Panama City $3,753
Puerto Montt $1,064

Panama City costs about 310% more than Puerto Montt, and outside of rent the biggest gap is in clothing.

Panama City sits 37% above the global median, while Puerto Montt is 66% below – they fall on opposite sides of the world average.

Meal at Budget Restaurant

$11.63 PAB 11.63

$8.01 CLP 7,886

45.19%

Three-Course Dinner for Two, Mid-Range

$47.92 PAB 47.92

$36.02 CLP 35.5K

33.04%

Fast Food Meal (McDonalds, etc)

$7.96 PAB 7.96

$7.23 CLP 7,112

10.10%

Cappuccino

$4.22 PAB 4.22

$2.74 CLP 2,697

54.01%

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

$2.01 PAB 2.01

$0.96 CLP 944

109.37%

Water (0.33 liter bottle)

$1.56 PAB 1.56

$0.93 CLP 918

67.74%

Local Beer (0.5 liter draught)

$3.39 PAB 3.39

Imported Beer (0.33 liter bottle)

$3.94 PAB 3.94

Milk (1 liter)

$1.85 PAB 1.85

$1.14 CLP 1,121

62.28%

White Bread (500g)

$2.56 PAB 2.56

$2.49 CLP 2,456

2.81%

Rice (white) (1kg)

$3.48 PAB 3.48

$1.47 CLP 1,448

136.73%

Eggs

$2.69 PAB 2.69

$3.21 CLP 3,162

-16.20%

Local Cheese (1kg)

$12.57 PAB 12.57

$11.41 CLP 11.2K

10.17%

Chicken Fillets (1kg)

$6.83 PAB 6.83

$5.69 CLP 5,598

20.04%

Beef Round Steak (1kg)

$10.58 PAB 10.58

$6.85 CLP 6,744

54.45%

Apples (1kg)

$4.18 PAB 4.18

$1.04 CLP 1,021

301.92%

Banana (1kg)

$1.83 PAB 1.83

$1.35 CLP 1,326

35.56%

Oranges (1kg)

$4.20 PAB 4.20

$2.70 CLP 2,659

55.56%

Tomato (1kg)

$4.03 PAB 4.03

$1.82 CLP 1,788

121.43%

Potato (1kg)

$3.48 PAB 3.48

Onion (1kg)

$4.22 PAB 4.22

$1.56 CLP 1,536

170.51%

Lettuce (1 head)

$2.41 PAB 2.41

$1.32 CLP 1,296

82.58%

Water (1.5 liter bottle)

$1.69 PAB 1.69

$1.46 CLP 1,438

15.75%

Cigarettes 20 Pack (Marlboro, Camel)

$6.14 PAB 6.14

$4.55 CLP 4,482

34.95%

Wine (Bottle)

$11.30 PAB 11.30

$5.68 CLP 5,588

98.94%

Local Beer (0.5 liter bottle)

$1.42 PAB 1.42

$1.39 CLP 1,368

2.16%

Imported Beer (0.33 liter bottle)

$2.73 PAB 2.73

$1.54 CLP 1,519

77.27%

One-way Ticket (Public Transport)

$0.33 PAB 0.33

$0.89 CLP 875

-62.92%

Public Transport Monthly Pass (Regular Price)

$21.23 PAB 21.23

Taxi Start (Normal Tariff)

$2.52 PAB 2.52

Taxi (Normal Tariff) (1km)

$1.86 PAB 1.86

Taxi 1hour Waiting (Normal Tariff)

$21.78 PAB 21.78

Gasoline (1 liter)

$1.25 PAB 1.25

$1.30 CLP 1,282

-3.85%

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

$21.2K PAB 21.2K

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

$21.0K PAB 21.0K

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

$130 PAB 130

$62.0 CLP 61.0K

109.55%

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

$28.13 PAB 28.13

$11.06 CLP 10.9K

154.34%

Internet (50+ Mbps, Unlimited Data)

$48.21 PAB 48.21

$31.03 CLP 30.5K

55.37%

Gym Membership (Monthly)

$45.78 PAB 45.78

Tennis Court (1 Hour on Weekend)

$34.92 PAB 34.92

Cinema Ticket

$8.67 PAB 8.67

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

$544 PAB 544

$145 CLP 142.5K

276.05%

International Primary School, 1 Child (Yearly)

$9,697 PAB 9,697

Jeans (Levis 501 Or Similar)

$66.8 PAB 66.8

Summer Dress (H&M, Zara, etc)

$49.14 PAB 49.14

Sport Shoes (Adidas, Nike)

$93.9 PAB 93.9

Men's Leather Business Shoes

$112 PAB 112

1-bedroom Apartment, City Center (Monthly)

$1,257 PAB 1,257

$502 CLP 494.6K

150.18%

1-bedroom Apartment, Outside City Center (Monthly)

$875 PAB 875

3-bedroom Apartment, City Center (Monthly)

$2,155 PAB 2,155

3-bedroom Apartment, Outside City Center (Monthly)

$1,564 PAB 1,564

Buy Apartment in City Center (m2)

$3,122 PAB 3,122

Buy Apartment Outside City Center (m2)

$1,709 PAB 1,709

Average Monthly Net Salary (After Tax)

$916 PAB 916

20-Year Fixed Mortgage Interest Rate (Annual %)

6.39

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

Last update for Panama City: October 10, 2026

Last update for Puerto Montt: October 13, 2026

Monthly budget structure

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

Accommodation & Living

Panama City

$875 47.2%

Puerto Montt

- * 0% 100%

Groceries & Markets

Panama City

$325 17.5%

Puerto Montt

$219 * 48.3% 32.7% $106

Eating Out

Panama City

$207 11.1%

Puerto Montt

$126 * 27.9% 38.9% $80

Monthly Utilities & Internet

Panama City

$206 11.1%

Puerto Montt

$104 23% 49.5% $102

Clothing & Footwear

Panama City

$145 7.8%

Puerto Montt

- * 0% 100%

Sport & Entertainment

Panama City

$63 3.4%

Puerto Montt

- * 0% 100%

Getting Around

Panama City

$34 1.9%

Puerto Montt

$3.6 * 0.8% 89.7% $31

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

Cost Breakdown

A central one-bedroom costs $1,257 in Panama City versus $502 in Puerto Montt. Rent is usually the largest line item in a monthly budget, so the gap here sets the tone for the overall comparison.

A mid-range dinner for two costs $48.00 in Panama City versus $36.00 in Puerto Montt. Monthly groceries follow the same trend: $325 vs $219 – making Puerto Montt the more affordable choice for daily food spending.

Good to know

🇵🇦 Panama City

🇨🇱 Puerto Montt

🕒 Local time

22:41 10:41 PM

00:41 12:41 AM

2 h ahead of Panama City

🌤 Weather

👥 Population

1,086,990 Capital

169,736

💱 Currency

Panamanian Balboa PAB B/.

Chilean Peso CLP $

📈 Exchange rate

1 PAB = 1 USD

1 PAB = 0.89 EUR

10,000 CLP = 10.16 USD

10,000 CLP = 9.04 EUR

Exchange rates and currency converter

CLP, USD, EUR to PAB – Panamanian Balboa Converter

🇺🇸 United States Dollar ($)

🇵🇦 Panamanian Balboa (B/.)

Panamanian Balboa exchange rates as of October 19, 2026: 1 USD = 1 PAB (1 PAB = 1 USD). 1 EUR = 1.12 PAB (1 PAB = 0.89 EUR).

Chilean Peso exchange rates as of October 19, 2026: 1 USD = 984 CLP (1,000 CLP = 1.02 USD). 1 EUR = 1,107 CLP (10,000 CLP = 9.04 EUR).

USD to PAB in detail →

On the map

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Between locations

Panama City Puerto Montt 5,650 km ≈ 8 h nonstop flight

From you

Panama City
Puerto Montt

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 Puerto Montt: Cost of Living - Frequently Asked Questions

Yes – Panama City is pricier by about 310%, and outside of rent the gap shows up most in clothing.

For a comfortable life, plan on about $2,783 per month in Panama City and $679 in Puerto Montt. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Rent is clearly cheaper in Puerto Montt, 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 $1,855 in Panama City and $453 in Puerto Montt. That's a gap of about 310%.

Kindergarten costs $544 per month in Panama City and $145 in Puerto Montt. For families with young kids, this one expense can tip the scales when choosing between the two cities.

A $1,000 monthly budget goes further in Puerto Montt, where all-in costs run around $453, than in Panama City at $1,855. In Puerto Montt it covers expenses comfortably, while in Panama City it requires careful planning or may not stretch far enough.

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

If budget matters most, go with Puerto Montt. 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.