Last update: Oct 2026

Cost of Living Comparison Between Panama City and Tofino

For one person, living is cheaper in Panama City: $1,855 a month against $2,360 in Tofino, rent and utilities included – about $6,100 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
115

Cost of Living Index in Tofino
Learn more

Tofino Living Index

Jump to prices

Panama City

🇵🇦 Panama

$1,855

/mo nomad

Tofino

🇨🇦 Canada

$2,360

/mo nomad

Monthly Cost of Living

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

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

A single person spends $1,855 per month in Panama City vs $2,360 in Tofino, rent included.

Panama City $1,855
Tofino $2,360

A couple spends around $2,804 per month in Panama City vs $4,067 in Tofino, rent included.

Panama City $2,804
Tofino $4,067

A family of three spends $3,753 per month in Panama City vs $5,775 in Tofino, rent included.

Panama City $3,753
Tofino $5,775

Panama City is about 21% cheaper than Tofino, and outside of rent the biggest gap is in eating out.

Both Panama City and Tofino sit above the global median – Panama City by 37%, Tofino by 75%.

Meal at Budget Restaurant

$11.63 PAB 11.63

$19.03 CA$27.05

-38.89%

Three-Course Dinner for Two, Mid-Range

$47.92 PAB 47.92

$69.3 CA$98.4

-30.81%

Fast Food Meal (McDonalds, etc)

$7.96 PAB 7.96

$10.89 CA$15.48

-26.91%

Cappuccino

$4.22 PAB 4.22

$4.41 CA$6.26

-4.31%

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

$2.01 PAB 2.01

$2.23 CA$3.16

-9.87%

Water (0.33 liter bottle)

$1.56 PAB 1.56

$1.87 CA$2.66

-16.58%

Local Beer (0.5 liter draught)

$3.39 PAB 3.39

$5.72 CA$8.13

-40.73%

Imported Beer (0.33 liter bottle)

$3.94 PAB 3.94

$5.46 CA$7.76

-27.84%

Milk (1 liter)

$1.85 PAB 1.85

$2.15 CA$3.06

-13.95%

White Bread (500g)

$2.56 PAB 2.56

$2.92 CA$4.15

-12.33%

Rice (white) (1kg)

$3.48 PAB 3.48

$4.13 CA$5.87

-15.74%

Eggs

$2.69 PAB 2.69

$4.16 CA$5.92

-35.34%

Local Cheese (1kg)

$12.57 PAB 12.57

$9.71 CA$13.80

29.45%

Chicken Fillets (1kg)

$6.83 PAB 6.83

$7.20 CA$10.24

-5.14%

Beef Round Steak (1kg)

$10.58 PAB 10.58

$10.33 CA$14.68

2.42%

Apples (1kg)

$4.18 PAB 4.18

$3.83 CA$5.45

9.14%

Banana (1kg)

$1.83 PAB 1.83

$1.42 CA$2.02

28.87%

Oranges (1kg)

$4.20 PAB 4.20

$3.90 CA$5.54

7.69%

Tomato (1kg)

$4.03 PAB 4.03

$4.07 CA$5.78

-0.98%

Potato (1kg)

$3.48 PAB 3.48

$3.39 CA$4.81

2.65%

Onion (1kg)

$4.22 PAB 4.22

$2.95 CA$4.20

43.05%

Lettuce (1 head)

$2.41 PAB 2.41

$3.17 CA$4.51

-23.97%

Water (1.5 liter bottle)

$1.69 PAB 1.69

$2.46 CA$3.50

-31.30%

Cigarettes 20 Pack (Marlboro, Camel)

$6.14 PAB 6.14

$14.45 CA$20.53

-57.51%

Wine (Bottle)

$11.30 PAB 11.30

$14.96 CA$21.26

-24.47%

Local Beer (0.5 liter bottle)

$1.42 PAB 1.42

$3.83 CA$5.44

-62.92%

Imported Beer (0.33 liter bottle)

$2.73 PAB 2.73

$3.62 CA$5.14

-24.59%

One-way Ticket (Public Transport)

$0.33 PAB 0.33

$2.21 CA$3.14

-85.07%

Public Transport Monthly Pass (Regular Price)

$21.23 PAB 21.23

$61.5 CA$87.5

-65.50%

Taxi Start (Normal Tariff)

$2.52 PAB 2.52

$2.77 CA$3.93

-9.03%

Taxi (Normal Tariff) (1km)

$1.86 PAB 1.86

$1.52 CA$2.17

22.37%

Taxi 1hour Waiting (Normal Tariff)

$21.78 PAB 21.78

$34.11 CA$48.47

-36.15%

Gasoline (1 liter)

$1.25 PAB 1.25

$1.36 CA$1.93

-8.09%

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

$21.2K PAB 21.2K

$27.6K CA$39.2K

-23.03%

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

$21.0K PAB 21.0K

$18.1K CA$25.7K

16.38%

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

$130 PAB 130

$99.1 CA$141

31.05%

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

$28.13 PAB 28.13

$43.98 CA$62.5

-36.04%

Internet (50+ Mbps, Unlimited Data)

$48.21 PAB 48.21

$60.9 CA$86.6

-20.89%

Gym Membership (Monthly)

$45.78 PAB 45.78

$40.69 CA$57.8

12.51%

Tennis Court (1 Hour on Weekend)

$34.92 PAB 34.92

$19.60 CA$27.86

78.16%

Cinema Ticket

$8.67 PAB 8.67

$10.43 CA$14.82

-16.87%

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

$544 PAB 544

$907 CA$1,288

-39.97%

International Primary School, 1 Child (Yearly)

$9,697 PAB 9,697

$22.9K CA$32.5K

-57.65%

Jeans (Levis 501 Or Similar)

$66.8 PAB 66.8

$52.1 CA$74.1

28.05%

Summer Dress (H&M, Zara, etc)

$49.14 PAB 49.14

$44.32 CA$63.0

10.88%

Sport Shoes (Adidas, Nike)

$93.9 PAB 93.9

$91.1 CA$129

3.02%

Men's Leather Business Shoes

$112 PAB 112

$108 CA$153

3.47%

1-bedroom Apartment, City Center (Monthly)

$1,257 PAB 1,257

$1,265 CA$1,798

-0.63%

1-bedroom Apartment, Outside City Center (Monthly)

$875 PAB 875

$1,228 CA$1,746

-28.78%

3-bedroom Apartment, City Center (Monthly)

$2,155 PAB 2,155

$3,366 CA$4,784

-35.97%

3-bedroom Apartment, Outside City Center (Monthly)

$1,564 PAB 1,564

$3,184 CA$4,525

-50.89%

Buy Apartment in City Center (m2)

$3,122 PAB 3,122

$3,651 CA$5,189

-14.48%

Buy Apartment Outside City Center (m2)

$1,709 PAB 1,709

$3,550 CA$5,046

-51.85%

Average Monthly Net Salary (After Tax)

$916 PAB 916

$1,254 CA$1,782

-26.94%

20-Year Fixed Mortgage Interest Rate (Annual %)

6.39

4.31

48.26%

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

Last update for Panama City: October 10, 2026

Last update for Tofino: October 10, 2026

Monthly budget structure

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

Accommodation & Living

Panama City

$875 47.2%

Tofino

$1.2K 52.1% 40.4% $353

Groceries & Markets

Panama City

$325 17.5%

Tofino

$358 15.2% 10.2% $33

Eating Out

Panama City

$207 11.1%

Tofino

$294 12.5% 42.1% $87

Monthly Utilities & Internet

Panama City

$206 11.1%

Tofino

$204 8.7% 1.1% $2.2

Clothing & Footwear

Panama City

$145 7.8%

Tofino

$133 5.6% 8.1% $12

Sport & Entertainment

Panama City

$63 3.4%

Tofino

$62 2.6% 2.5% $1.6

Getting Around

Panama City

$34 1.9%

Tofino

$81 3.4% 135% $46

Cost Breakdown

A central one-bedroom costs $1,257 in Panama City versus $1,265 in Tofino. 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 37% higher in Tofino, 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 $69.0 in Tofino. Monthly groceries follow the same trend: $325 vs $358 – making Panama City the more affordable choice for daily food spending.

Good to know

🇵🇦 Panama City

🇨🇦 Tofino

🕒 Local time

22:19 10:19 PM

20:19 8:19 PM

2 h behind Panama City

🌤 Weather

👥 Population

1,086,990 Capital

2,200

💱 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

Lowest

Highest

Between locations

Panama City Tofino 6,190 km ≈ 8 h nonstop flight

From you

Panama City
Tofino

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 Tofino: Cost of Living - Frequently Asked Questions

Yes – Tofino is pricier by about 27%, and outside of rent the gap shows up most in eating out.

For a comfortable life, plan on about $2,783 per month in Panama City and $3,539 in Tofino. 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.

Groceries cost about 10% more in Tofino, 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 $69.0 in Tofino. That's a good indicator of the overall restaurant and café pricing gap between the two cities.

A $2,500 monthly budget goes further in Panama City, where all-in costs run around $1,855, than in Tofino at $2,360. In Panama City it covers expenses comfortably, while in Tofino it requires careful planning or may not stretch far enough.

Families tend to lean toward Panama City – 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 Panama City. If higher salaries, better infrastructure, or specific career opportunities are the priority, Tofino makes more sense. Both are solid long-term options with distinct trade-offs.