Last update: Oct 2026

Cost of Living Comparison Between Panama City and Puerto Penasco

For one person, living is cheaper in Puerto Penasco: $1,216 a month against $1,837 in Panama City, rent and utilities included – about $7,500 less a year. Rent and utilities account for most of the difference.

90

Cost of Living Index in Panama City
Learn more

Panama City Living Index
59

Cost of Living Index in Puerto Penasco
Learn more

Puerto Penasco Living Index

Jump to prices

Panama City

🇵🇦 Panama

$1,837

/mo nomad

Puerto Penasco

🇲🇽 Mexico

$1,216

/mo nomad

Monthly Cost of Living

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

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

A single person spends $1,837 per month in Panama City vs $1,216 in Puerto Penasco, rent included.

Panama City $1,837
Puerto Penasco $1,216

A couple spends around $2,825 per month in Panama City vs $1,963 in Puerto Penasco, rent included.

Panama City $2,825
Puerto Penasco $1,963

A family of three spends $3,812 per month in Panama City vs $2,710 in Puerto Penasco, rent included.

Panama City $3,812
Puerto Penasco $2,710

Panama City costs about 51% more than Puerto Penasco, and outside of rent the biggest gap is in groceries.

Panama City sits 37% above the global median, while Puerto Penasco is 9% below – they fall on opposite sides of the world average.

Meal at Budget Restaurant

$11.34 PAB 11.34

$12.20 MX$224

-7.05%

Three-Course Dinner for Two, Mid-Range

$47.85 PAB 47.85

$44.66 MX$820

7.14%

Fast Food Meal (McDonalds, etc)

$8.07 PAB 8.07

$8.56 MX$157

-5.72%

Cappuccino

$4.02 PAB 4.02

$4.83 MX$88.7

-16.77%

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

$1.94 PAB 1.94

$1.40 MX$25.67

38.57%

Water (0.33 liter bottle)

$1.62 PAB 1.62

$1.05 MX$19.32

54.29%

Local Beer (0.5 liter draught)

$3.26 PAB 3.26

$2.67 MX$49.05

22.10%

Imported Beer (0.33 liter bottle)

$3.99 PAB 3.99

$3.95 MX$72.6

1.01%

Milk (1 liter)

$1.83 PAB 1.83

$1.60 MX$29.32

14.37%

White Bread (500g)

$2.57 PAB 2.57

$3.05 MX$55.9

-15.74%

Rice (white) (1kg)

$3.33 PAB 3.33

$1.68 MX$30.92

98.21%

Eggs

$2.69 PAB 2.69

$2.99 MX$54.8

-10.03%

Local Cheese (1kg)

$12.33 PAB 12.33

$4.88 MX$89.7

152.66%

Chicken Fillets (1kg)

$6.69 PAB 6.69

$10.75 MX$197

-37.77%

Beef Round Steak (1kg)

$10.40 PAB 10.40

$9.68 MX$178

7.44%

Apples (1kg)

$4.16 PAB 4.16

$4.47 MX$82.1

-6.94%

Banana (1kg)

$1.84 PAB 1.84

$1.91 MX$35.06

-3.66%

Oranges (1kg)

$4.18 PAB 4.18

$3.15 MX$57.8

32.70%

Tomato (1kg)

$4.08 PAB 4.08

$2.11 MX$38.80

93.36%

Potato (1kg)

$3.50 PAB 3.50

$1.95 MX$35.88

79.49%

Onion (1kg)

$4.37 PAB 4.37

$2.02 MX$37.14

116.34%

Lettuce (1 head)

$2.34 PAB 2.34

$1.46 MX$26.85

60.27%

Water (1.5 liter bottle)

$1.75 PAB 1.75

$1.59 MX$29.19

10.06%

Cigarettes 20 Pack (Marlboro, Camel)

$6.06 PAB 6.06

$4.48 MX$82.2

35.27%

Wine (Bottle)

$11.72 PAB 11.72

$13.70 MX$252

-14.45%

Local Beer (0.5 liter bottle)

$1.37 PAB 1.37

$1.57 MX$28.91

-12.74%

Imported Beer (0.33 liter bottle)

$2.84 PAB 2.84

$1.56 MX$28.67

82.05%

One-way Ticket (Public Transport)

$0.36 PAB 0.36

$0.64 MX$11.71

-43.75%

Public Transport Monthly Pass (Regular Price)

$20.96 PAB 20.96

Taxi Start (Normal Tariff)

$2.52 PAB 2.52

$2.25 MX$41.40

12.00%

Taxi (Normal Tariff) (1km)

$1.79 PAB 1.79

$3.13 MX$57.5

-42.81%

Taxi 1hour Waiting (Normal Tariff)

$22.01 PAB 22.01

$11.22 MX$206

96.17%

Gasoline (1 liter)

$1.25 PAB 1.25

$1.38 MX$25.27

-9.42%

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

$21.5K PAB 21.5K

$21.3K MX$391.3K

1.06%

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

$21.2K PAB 21.2K

$24.4K MX$448.1K

-13.16%

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

$131 PAB 131

$71.5 MX$1,314

83.37%

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

$27.68 PAB 27.68

$12.60 MX$231

119.68%

Internet (50+ Mbps, Unlimited Data)

$48.59 PAB 48.59

$43.81 MX$804

10.91%

Gym Membership (Monthly)

$46.11 PAB 46.11

$33.41 MX$613

38.01%

Tennis Court (1 Hour on Weekend)

$35.01 PAB 35.01

$20.26 MX$372

72.80%

Cinema Ticket

$8.73 PAB 8.73

$5.43 MX$99.6

60.77%

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

$551 PAB 551

$226 MX$4,143

144.02%

International Primary School, 1 Child (Yearly)

$9,560 PAB 9,560

$4,696 MX$86.2K

103.58%

Jeans (Levis 501 Or Similar)

$67.6 PAB 67.6

$55.9 MX$1,026

21.03%

Summer Dress (H&M, Zara, etc)

$48.03 PAB 48.03

$42.12 MX$773

14.03%

Sport Shoes (Adidas, Nike)

$94.9 PAB 94.9

$100 MX$1,839

-5.27%

Men's Leather Business Shoes

$113 PAB 113

$90.6 MX$1,664

24.64%

1-bedroom Apartment, City Center (Monthly)

$1,238 PAB 1,238

$533 MX$9,787

132.19%

1-bedroom Apartment, Outside City Center (Monthly)

$873 PAB 873

$387 MX$7,112

125.41%

3-bedroom Apartment, City Center (Monthly)

$2,197 PAB 2,197

$958 MX$17.6K

129.41%

3-bedroom Apartment, Outside City Center (Monthly)

$1,538 PAB 1,538

$764 MX$14.0K

101.22%

Buy Apartment in City Center (m2)

$3,116 PAB 3,116

$1,873 MX$34.4K

66.34%

Buy Apartment Outside City Center (m2)

$1,725 PAB 1,725

$1,168 MX$21.4K

47.70%

Average Monthly Net Salary (After Tax)

$934 PAB 934

$596 MX$10.9K

56.81%

20-Year Fixed Mortgage Interest Rate (Annual %)

6.39

10.55

-39.43%

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

Last update for Panama City: October 3, 2026

Last update for Puerto Penasco: October 3, 2026

Monthly budget structure

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

Accommodation & Living

Panama City

$873 47.2%

Puerto Penasco

$387 31.9% 55.6% $486

Groceries & Markets

Panama City

$324 17.5%

Puerto Penasco

$293 24.1% 9.7% $32

Monthly Utilities & Internet

Panama City

$207 11.2%

Puerto Penasco

$128 10.5% 38.3% $79

Eating Out

Panama City

$202 10.9%

Puerto Penasco

$212 17.5% 5.3% $11

Clothing & Footwear

Panama City

$146 7.9%

Puerto Penasco

$130 10.7% 10.7% $16

Sport & Entertainment

Panama City

$64 3.4%

Puerto Penasco

$44 3.6% 30.4% $19

Getting Around

Panama City

$34 1.8%

Puerto Penasco

$20 * 1.7% 39.6% $13

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

Cost Breakdown

A central one-bedroom costs $1,238 in Panama City versus $533 in Puerto Penasco. 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 57% higher in Panama City, 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 $45.00 in Puerto Penasco. Monthly groceries follow the same trend: $324 vs $293 – making Puerto Penasco the more affordable choice for daily food spending.

Good to know

🇵🇦 Panama City

🇲🇽 Puerto Penasco

🕒 Local time

07:03 7:03 AM

05:03 5:03 AM

2 h behind Panama City

🌤 Weather

👥 Population

1,086,990 Capital

56,756

💱 Currency

Panamanian Balboa PAB B/.

Mexican Peso MXN $

📈 Exchange rate

1 PAB = 1 USD

1 PAB = 0.892 EUR

100 MXN = 5.45 USD

100 MXN = 4.86 EUR

Exchange rates and currency converter

MXN, 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).

Mexican Peso exchange rates as of October 10, 2026: 1 USD = 18.36 MXN (100 MXN = 5.45 USD). 1 EUR = 20.57 MXN (100 MXN = 4.86 EUR).

USD to PAB in detail →

On the map

Lowest

Highest

Between locations

Panama City Puerto Penasco 4,300 km ≈ 6 h nonstop flight

From you

Panama City
Puerto Penasco

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 Penasco: Cost of Living - Frequently Asked Questions

Yes – Panama City is pricier by about 51%, and outside of rent the gap shows up most in groceries.

For a comfortable life, plan on about $2,756 per month in Panama City and $1,824 in Puerto Penasco. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Rent is clearly cheaper in Puerto Penasco, 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 $1,837 in Panama City and $1,216 in Puerto Penasco. That's a gap of about 51%.

Kindergarten costs $551 per month in Panama City and $226 in Puerto Penasco. 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 Puerto Penasco, where all-in costs run around $1,216, than in Panama City at $1,837. In Puerto Penasco it covers expenses comfortably, while in Panama City it requires careful planning or may not stretch far enough.

Families tend to lean toward Puerto Penasco – 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 Puerto Penasco. 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.