Last update: Oct 2026

Cost of Living Comparison Between Panama City and Santiago

For one person, living is cheaper in Santiago: $1,206 a month against $1,837 in Panama City, rent and utilities included – about $7,600 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
58

Cost of Living Index in Santiago
Learn more

Santiago Living Index

Jump to prices

Panama City

🇵🇦 Panama

$1,837

/mo nomad

Santiago

🇨🇱 Chile

$1,206

/mo nomad

Monthly Cost of Living

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

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

A single person spends $1,837 per month in Panama City vs $1,206 in Santiago, rent included.

Panama City $1,837
Santiago $1,206

A couple spends around $2,825 per month in Panama City vs $1,885 in Santiago, rent included.

Panama City $2,825
Santiago $1,885

A family of three spends $3,812 per month in Panama City vs $2,564 in Santiago, rent included.

Panama City $3,812
Santiago $2,564

Panama City costs about 52% more than Santiago, and outside of rent the biggest gap is in groceries.

Panama City sits 37% above the global median, while Santiago is 10% below – they fall on opposite sides of the world average.

Meal at Budget Restaurant

$11.34 PAB 11.34

$10.19 CLP 9,954

11.29%

Three-Course Dinner for Two, Mid-Range

$47.85 PAB 47.85

$52.2 CLP 51.0K

-8.35%

Fast Food Meal (McDonalds, etc)

$8.07 PAB 8.07

$8.54 CLP 8,342

-5.50%

Cappuccino

$4.02 PAB 4.02

$3.19 CLP 3,122

26.02%

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

$1.94 PAB 1.94

$1.68 CLP 1,641

15.48%

Water (0.33 liter bottle)

$1.62 PAB 1.62

$1.22 CLP 1,194

32.79%

Local Beer (0.5 liter draught)

$3.26 PAB 3.26

$4.21 CLP 4,110

-22.57%

Imported Beer (0.33 liter bottle)

$3.99 PAB 3.99

$4.66 CLP 4,550

-14.38%

Milk (1 liter)

$1.83 PAB 1.83

$1.32 CLP 1,286

38.64%

White Bread (500g)

$2.57 PAB 2.57

$1.80 CLP 1,760

42.78%

Rice (white) (1kg)

$3.33 PAB 3.33

$1.58 CLP 1,547

110.76%

Eggs

$2.69 PAB 2.69

$4.25 CLP 4,151

-36.71%

Local Cheese (1kg)

$12.33 PAB 12.33

$11.19 CLP 10.9K

10.19%

Chicken Fillets (1kg)

$6.69 PAB 6.69

$6.75 CLP 6,596

-0.89%

Beef Round Steak (1kg)

$10.40 PAB 10.40

$10.67 CLP 10.4K

-2.53%

Apples (1kg)

$4.16 PAB 4.16

$2.04 CLP 1,995

103.92%

Banana (1kg)

$1.84 PAB 1.84

$1.53 CLP 1,500

20.26%

Oranges (1kg)

$4.18 PAB 4.18

$1.59 CLP 1,553

162.89%

Tomato (1kg)

$4.08 PAB 4.08

$1.75 CLP 1,712

133.14%

Potato (1kg)

$3.50 PAB 3.50

$1.08 CLP 1,054

224.07%

Onion (1kg)

$4.37 PAB 4.37

$1.51 CLP 1,480

189.40%

Lettuce (1 head)

$2.34 PAB 2.34

$1.17 CLP 1,148

100.00%

Water (1.5 liter bottle)

$1.75 PAB 1.75

$1.07 CLP 1,043

63.55%

Cigarettes 20 Pack (Marlboro, Camel)

$6.06 PAB 6.06

$5.14 CLP 5,027

17.90%

Wine (Bottle)

$11.72 PAB 11.72

$5.88 CLP 5,745

99.32%

Local Beer (0.5 liter bottle)

$1.37 PAB 1.37

$1.55 CLP 1,516

-11.61%

Imported Beer (0.33 liter bottle)

$2.84 PAB 2.84

$2.27 CLP 2,223

25.11%

One-way Ticket (Public Transport)

$0.36 PAB 0.36

$0.85 CLP 831

-57.65%

Public Transport Monthly Pass (Regular Price)

$20.96 PAB 20.96

$41.50 CLP 40.6K

-49.49%

Taxi Start (Normal Tariff)

$2.52 PAB 2.52

$0.39 CLP 383

546.15%

Taxi (Normal Tariff) (1km)

$1.79 PAB 1.79

$0.84 CLP 822

113.10%

Taxi 1hour Waiting (Normal Tariff)

$22.01 PAB 22.01

$11.94 CLP 11.7K

84.34%

Gasoline (1 liter)

$1.25 PAB 1.25

$1.50 CLP 1,470

-16.67%

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

$21.5K PAB 21.5K

$18.1K CLP 17.7M

18.96%

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

$21.2K PAB 21.2K

$21.6K CLP 21.1M

-1.93%

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

$131 PAB 131

$151 CLP 147.7K

-13.18%

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

$27.68 PAB 27.68

$12.04 CLP 11.8K

129.90%

Internet (50+ Mbps, Unlimited Data)

$48.59 PAB 48.59

$18.93 CLP 18.5K

156.68%

Gym Membership (Monthly)

$46.11 PAB 46.11

$33.81 CLP 33.0K

36.38%

Tennis Court (1 Hour on Weekend)

$35.01 PAB 35.01

$11.72 CLP 11.5K

198.72%

Cinema Ticket

$8.73 PAB 8.73

$7.37 CLP 7,202

18.45%

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

$551 PAB 551

$434 CLP 424.3K

26.83%

International Primary School, 1 Child (Yearly)

$9,560 PAB 9,560

$11.0K CLP 10.7M

-13.06%

Jeans (Levis 501 Or Similar)

$67.6 PAB 67.6

$50.9 CLP 49.7K

32.91%

Summer Dress (H&M, Zara, etc)

$48.03 PAB 48.03

$29.16 CLP 28.5K

64.71%

Sport Shoes (Adidas, Nike)

$94.9 PAB 94.9

$67.4 CLP 65.8K

40.85%

Men's Leather Business Shoes

$113 PAB 113

$80.3 CLP 78.4K

40.74%

1-bedroom Apartment, City Center (Monthly)

$1,238 PAB 1,238

$555 CLP 542.0K

123.17%

1-bedroom Apartment, Outside City Center (Monthly)

$873 PAB 873

$372 CLP 364.0K

134.44%

3-bedroom Apartment, City Center (Monthly)

$2,197 PAB 2,197

$1,009 CLP 986.6K

117.64%

3-bedroom Apartment, Outside City Center (Monthly)

$1,538 PAB 1,538

$779 CLP 760.9K

97.59%

Buy Apartment in City Center (m2)

$3,116 PAB 3,116

$2,671 CLP 2.6M

16.65%

Buy Apartment Outside City Center (m2)

$1,725 PAB 1,725

$2,622 CLP 2.6M

-34.22%

Average Monthly Net Salary (After Tax)

$934 PAB 934

$791 CLP 773.5K

18.07%

20-Year Fixed Mortgage Interest Rate (Annual %)

6.39

5.39

18.55%

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

Last update for Panama City: October 3, 2026

Last update for Santiago: October 4, 2026

Monthly budget structure

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

Accommodation & Living

Panama City

$873 47.2%

Santiago

$372 31.6% 57.3% $501

Groceries & Markets

Panama City

$324 17.5%

Santiago

$236 20% 27.2% $88

Monthly Utilities & Internet

Panama City

$207 11.2%

Santiago

$182 15.5% 12.2% $25

Eating Out

Panama City

$202 10.9%

Santiago

$187 15.9% 7.1% $14

Clothing & Footwear

Panama City

$146 7.9%

Santiago

$102 8.7% 29.6% $43

Sport & Entertainment

Panama City

$64 3.4%

Santiago

$49 4.1% 23.6% $15

Getting Around

Panama City

$34 1.8%

Santiago

$50 4.2% 46.1% $16

Cost Breakdown

A central one-bedroom costs $1,238 in Panama City versus $555 in Santiago. 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 18% 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 $52.0 in Santiago. Groceries tell a different story – $324 in Panama City vs $236 in Santiago – so Santiago wins on supermarket bills even if dining out costs more.

Good to know

🇵🇦 Panama City

🇨🇱 Santiago

🕒 Local time

21:58 9:58 PM

23:58 11:58 PM

2 h ahead of Panama City

🌤 Weather

👥 Population

1,086,990 Capital

6,139,087 Capital

💱 Currency

Panamanian Balboa PAB B/.

Chilean Peso CLP $

📈 Exchange rate

1 PAB = 1 USD

1 PAB = 0.892 EUR

10,000 CLP = 10.23 USD

10,000 CLP = 9.12 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 10, 2026: 1 USD = 1 PAB (1 PAB = 1 USD). 1 EUR = 1.12 PAB (1 PAB = 0.892 EUR).

Chilean Peso exchange rates as of October 10, 2026: 1 USD = 977 CLP (1,000 CLP = 1.02 USD). 1 EUR = 1,096 CLP (10,000 CLP = 9.12 EUR).

USD to PAB in detail →

On the map

Lowest

Highest

Between locations

Panama City Santiago 4,810 km ≈ 7 h nonstop flight

From you

Panama City
Santiago

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 Santiago: Cost of Living - Frequently Asked Questions

Yes – Panama City is pricier by about 52%, 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 $1,809 in Santiago. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

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

Groceries cost about 37% more in Panama City, though it depends on what you buy. Local produce may be comparable; imported and premium items show the biggest price gap.

A mid-range dinner for two costs $48.00 in Panama City and $52.0 in Santiago. That's a good indicator of the overall restaurant and café pricing gap between the two cities.

A $1,500 monthly budget goes further in Santiago, where all-in costs run around $1,206, than in Panama City at $1,837. In Santiago it covers expenses comfortably, while in Panama City it requires careful planning or may not stretch far enough.

Families tend to lean toward Santiago – 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 Santiago. 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.