Last update: Oct 2026

Cost of Living Comparison Between Panama City and San Rafael

For one person, living is cheaper in San Rafael: $1,318 a month against $1,837 in Panama City, rent and utilities included – about $6,200 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
63

Cost of Living Index in San Rafael
Learn more

San Rafael Living Index

Jump to prices

Panama City

🇵🇦 Panama

$1,837

/mo nomad

San Rafael

🇦🇷 Argentina

$1,318

/mo nomad

Monthly Cost of Living

How much you'll spend in Panama City and in San Rafael

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

A single person spends $1,837 per month in Panama City vs $1,318 in San Rafael, rent included.

Panama City $1,837
San Rafael $1,318

A couple spends around $2,825 per month in Panama City vs $2,096 in San Rafael, rent included.

Panama City $2,825
San Rafael $2,096

A family of three spends $3,812 per month in Panama City vs $2,875 in San Rafael, rent included.

Panama City $3,812
San Rafael $2,875

Panama City costs about 39% more than San Rafael, and outside of rent the biggest gap is in clothing.

Panama City sits 37% above the global median, while San Rafael is 2% below – they fall on opposite sides of the world average.

Meal at Budget Restaurant

$11.34 PAB 11.34

$11.20 ARS 17.0K

1.25%

Three-Course Dinner for Two, Mid-Range

$47.85 PAB 47.85

$49.65 ARS 75.3K

-3.63%

Fast Food Meal (McDonalds, etc)

$8.07 PAB 8.07

$14.69 ARS 22.3K

-45.06%

Cappuccino

$4.02 PAB 4.02

$4.34 ARS 6,580

-7.37%

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

$1.94 PAB 1.94

$2.42 ARS 3,663

-19.83%

Water (0.33 liter bottle)

$1.62 PAB 1.62

$1.98 ARS 3,006

-18.18%

Local Beer (0.5 liter draught)

$3.26 PAB 3.26

$3.94 ARS 5,969

-17.26%

Imported Beer (0.33 liter bottle)

$3.99 PAB 3.99

$4.42 ARS 6,701

-9.73%

Milk (1 liter)

$1.83 PAB 1.83

$1.35 ARS 2,046

35.56%

White Bread (500g)

$2.57 PAB 2.57

$2.27 ARS 3,435

13.22%

Rice (white) (1kg)

$3.33 PAB 3.33

$2.67 ARS 4,052

24.72%

Eggs

$2.69 PAB 2.69

$3.18 ARS 4,820

-15.41%

Local Cheese (1kg)

$12.33 PAB 12.33

$14.56 ARS 22.1K

-15.32%

Chicken Fillets (1kg)

$6.69 PAB 6.69

$6.21 ARS 9,418

7.73%

Beef Round Steak (1kg)

$10.40 PAB 10.40

$11.16 ARS 16.9K

-6.81%

Apples (1kg)

$4.16 PAB 4.16

$2.38 ARS 3,604

74.79%

Banana (1kg)

$1.84 PAB 1.84

$2.21 ARS 3,347

-16.74%

Oranges (1kg)

$4.18 PAB 4.18

$1.35 ARS 2,048

209.63%

Tomato (1kg)

$4.08 PAB 4.08

$3.30 ARS 5,012

23.64%

Potato (1kg)

$3.50 PAB 3.50

$2.01 ARS 3,055

74.13%

Onion (1kg)

$4.37 PAB 4.37

$1.45 ARS 2,203

201.38%

Lettuce (1 head)

$2.34 PAB 2.34

$1.94 ARS 2,935

20.62%

Water (1.5 liter bottle)

$1.75 PAB 1.75

$2.46 ARS 3,725

-28.86%

Cigarettes 20 Pack (Marlboro, Camel)

$6.06 PAB 6.06

$2.82 ARS 4,279

114.89%

Wine (Bottle)

$11.72 PAB 11.72

$5.05 ARS 7,656

132.08%

Local Beer (0.5 liter bottle)

$1.37 PAB 1.37

$1.73 ARS 2,625

-20.81%

Imported Beer (0.33 liter bottle)

$2.84 PAB 2.84

$3.05 ARS 4,619

-6.89%

One-way Ticket (Public Transport)

$0.36 PAB 0.36

$1.00 ARS 1,513

-64.00%

Public Transport Monthly Pass (Regular Price)

$20.96 PAB 20.96

Taxi Start (Normal Tariff)

$2.52 PAB 2.52

$1.96 ARS 2,966

28.57%

Taxi (Normal Tariff) (1km)

$1.79 PAB 1.79

$1.02 ARS 1,540

75.49%

Taxi 1hour Waiting (Normal Tariff)

$22.01 PAB 22.01

$4.89 ARS 7,412

350.10%

Gasoline (1 liter)

$1.25 PAB 1.25

$1.27 ARS 1,929

-1.57%

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

$21.5K PAB 21.5K

$26.6K ARS 40.4M

-19.18%

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

$21.2K PAB 21.2K

$32.6K ARS 49.4M

-34.96%

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

$131 PAB 131

$135 ARS 205.3K

-3.09%

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

$27.68 PAB 27.68

$17.43 ARS 26.4K

58.81%

Internet (50+ Mbps, Unlimited Data)

$48.59 PAB 48.59

$23.44 ARS 35.6K

107.30%

Gym Membership (Monthly)

$46.11 PAB 46.11

$31.21 ARS 47.3K

47.74%

Tennis Court (1 Hour on Weekend)

$35.01 PAB 35.01

Cinema Ticket

$8.73 PAB 8.73

$6.91 ARS 10.5K

26.34%

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

$551 PAB 551

$177 ARS 268.1K

211.45%

International Primary School, 1 Child (Yearly)

$9,560 PAB 9,560

$4,090 ARS 6.2M

133.77%

Jeans (Levis 501 Or Similar)

$67.6 PAB 67.6

$116 ARS 175.9K

-41.71%

Summer Dress (H&M, Zara, etc)

$48.03 PAB 48.03

$125 ARS 188.9K

-61.43%

Sport Shoes (Adidas, Nike)

$94.9 PAB 94.9

$136 ARS 206.8K

-30.40%

Men's Leather Business Shoes

$113 PAB 113

$125 ARS 189.8K

-9.79%

1-bedroom Apartment, City Center (Monthly)

$1,238 PAB 1,238

$489 ARS 740.9K

153.35%

1-bedroom Apartment, Outside City Center (Monthly)

$873 PAB 873

$318 ARS 482.7K

174.30%

3-bedroom Apartment, City Center (Monthly)

$2,197 PAB 2,197

$937 ARS 1.4M

134.46%

3-bedroom Apartment, Outside City Center (Monthly)

$1,538 PAB 1,538

$725 ARS 1.1M

112.14%

Buy Apartment in City Center (m2)

$3,116 PAB 3,116

Buy Apartment Outside City Center (m2)

$1,725 PAB 1,725

Average Monthly Net Salary (After Tax)

$934 PAB 934

20-Year Fixed Mortgage Interest Rate (Annual %)

6.39

-89.17%

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

Last update for Panama City: October 3, 2026

Last update for San Rafael: October 5, 2026

Monthly budget structure

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

Accommodation & Living

Panama City

$873 47.2%

San Rafael

$318 24.6% 63.5% $555

Groceries & Markets

Panama City

$324 17.5%

San Rafael

$286 22.1% 11.9% $38

Monthly Utilities & Internet

Panama City

$207 11.2%

San Rafael

$176 13.6% 15% $31

Eating Out

Panama City

$202 10.9%

San Rafael

$232 17.9% 15% $30

Clothing & Footwear

Panama City

$146 7.9%

San Rafael

$226 17.5% 55.2% $80

Sport & Entertainment

Panama City

$64 3.4%

San Rafael

$45 3.5% 29.2% $19

Getting Around

Panama City

$34 1.8%

San Rafael

$11 * 0.9% 67.5% $23

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 $489 in San Rafael. 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 $50.0 in San Rafael. Groceries tell a different story – $324 in Panama City vs $286 in San Rafael – so San Rafael wins on supermarket bills even if dining out costs more.

Good to know

🇵🇦 Panama City

🇦🇷 San Rafael

🕒 Local time

05:52 5:52 AM

07:52 7:52 AM

2 h ahead of Panama City

🌤 Weather

👥 Population

1,086,990 Capital

118,850

💱 Currency

Panamanian Balboa PAB B/.

Argentine Peso ARS $

📈 Exchange rate

1 PAB = 1 USD

1 PAB = 0.892 EUR

10,000 ARS = 6.59 USD

10,000 ARS = 5.88 EUR

Exchange rates and currency converter

ARS, 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).

Argentine Peso exchange rates as of October 10, 2026: 1 USD = 1,517 ARS (10,000 ARS = 6.59 USD). 1 EUR = 1,699 ARS (10,000 ARS = 5.88 EUR).

USD to PAB in detail →

On the map

Lowest

Highest

Between locations

Panama City San Rafael 4,990 km ≈ 7 h nonstop flight

From you

Panama City
San Rafael

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 San Rafael: Cost of Living - Frequently Asked Questions

Yes – Panama City is pricier by about 39%, and outside of rent the gap shows up most in clothing.

For a comfortable life, plan on about $2,756 per month in Panama City and $1,978 in San Rafael. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Rent is clearly cheaper in San Rafael, 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 $1,318 in San Rafael. That's a gap of about 39%.

Kindergarten costs $551 per month in Panama City and $177 in San Rafael. 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 San Rafael, where all-in costs run around $1,318, than in Panama City at $1,837. In San Rafael it covers expenses comfortably, while in Panama City it requires careful planning or may not stretch far enough.

Families tend to lean toward San Rafael – 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 San Rafael. 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.