Last update: Oct 2026

Cost of Living Comparison Between Panama City and Yarmouth

For one person, living is cheaper in Panama City: $1,855 a month against $2,171 in Yarmouth, rent and utilities included – about $3,800 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
105

Cost of Living Index in Yarmouth
Learn more

Yarmouth Living Index

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Panama City

🇵🇦 Panama

$1,855

/mo nomad

Yarmouth

🇨🇦 Canada

$2,171

/mo nomad

Monthly Cost of Living

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

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

A single person spends $1,855 per month in Panama City vs $2,171 in Yarmouth, rent included.

Panama City $1,855
Yarmouth $2,171

A couple spends around $2,804 per month in Panama City vs $2,914 in Yarmouth, rent included.

Panama City $2,804
Yarmouth $2,914

A family of three spends $3,753 per month in Panama City vs $3,658 in Yarmouth, rent included.

Panama City $3,753
Yarmouth $3,658

Panama City is about 15% cheaper than Yarmouth, and outside of rent the biggest gap is in eating out.

Both Panama City and Yarmouth sit above the global median – Panama City by 37%, Yarmouth by 61%.

Meal at Budget Restaurant

$11.63 PAB 11.63

$17.24 CA$24.51

-32.54%

Three-Course Dinner for Two, Mid-Range

$47.92 PAB 47.92

$64.2 CA$91.2

-25.32%

Fast Food Meal (McDonalds, etc)

$7.96 PAB 7.96

$10.49 CA$14.90

-24.12%

Cappuccino

$4.22 PAB 4.22

$4.08 CA$5.80

3.43%

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

$2.01 PAB 2.01

$2.20 CA$3.12

-8.64%

Water (0.33 liter bottle)

$1.56 PAB 1.56

$1.72 CA$2.45

-9.30%

Local Beer (0.5 liter draught)

$3.39 PAB 3.39

$5.59 CA$7.94

-39.36%

Imported Beer (0.33 liter bottle)

$3.94 PAB 3.94

$5.62 CA$7.98

-29.89%

Milk (1 liter)

$1.85 PAB 1.85

$1.80 CA$2.56

2.78%

White Bread (500g)

$2.56 PAB 2.56

$2.43 CA$3.45

5.35%

Rice (white) (1kg)

$3.48 PAB 3.48

$3.47 CA$4.93

0.29%

Eggs

$2.69 PAB 2.69

$3.47 CA$4.93

-22.48%

Local Cheese (1kg)

$12.57 PAB 12.57

$8.84 CA$12.56

42.19%

Chicken Fillets (1kg)

$6.83 PAB 6.83

$11.16 CA$15.86

-38.80%

Beef Round Steak (1kg)

$10.58 PAB 10.58

$7.32 CA$10.40

44.54%

Apples (1kg)

$4.18 PAB 4.18

$3.15 CA$4.48

32.70%

Banana (1kg)

$1.83 PAB 1.83

$1.70 CA$2.41

7.65%

Oranges (1kg)

$4.20 PAB 4.20

$3.48 CA$4.94

20.69%

Tomato (1kg)

$4.03 PAB 4.03

$2.65 CA$3.76

52.08%

Potato (1kg)

$3.48 PAB 3.48

$2.33 CA$3.31

49.36%

Onion (1kg)

$4.22 PAB 4.22

$1.73 CA$2.46

143.93%

Lettuce (1 head)

$2.41 PAB 2.41

$2.55 CA$3.63

-5.49%

Water (1.5 liter bottle)

$1.69 PAB 1.69

$1.66 CA$2.36

1.81%

Cigarettes 20 Pack (Marlboro, Camel)

$6.14 PAB 6.14

$15.14 CA$21.51

-59.45%

Wine (Bottle)

$11.30 PAB 11.30

$16.32 CA$23.19

-30.76%

Local Beer (0.5 liter bottle)

$1.42 PAB 1.42

$3.46 CA$4.92

-58.96%

Imported Beer (0.33 liter bottle)

$2.73 PAB 2.73

$3.37 CA$4.78

-18.99%

One-way Ticket (Public Transport)

$0.33 PAB 0.33

$1.56 CA$2.22

-78.85%

Public Transport Monthly Pass (Regular Price)

$21.23 PAB 21.23

$46.58 CA$66.2

-54.42%

Taxi Start (Normal Tariff)

$2.52 PAB 2.52

$3.22 CA$4.58

-21.74%

Taxi (Normal Tariff) (1km)

$1.86 PAB 1.86

$1.22 CA$1.73

52.46%

Taxi 1hour Waiting (Normal Tariff)

$21.78 PAB 21.78

$14.82 CA$21.07

46.96%

Gasoline (1 liter)

$1.25 PAB 1.25

$1.22 CA$1.73

2.46%

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

$21.2K PAB 21.2K

$25.0K CA$35.5K

-14.92%

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

$21.0K PAB 21.0K

$21.4K CA$30.4K

-1.83%

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

$130 PAB 130

$144 CA$204

-9.61%

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

$28.13 PAB 28.13

$42.00 CA$59.7

-33.02%

Internet (50+ Mbps, Unlimited Data)

$48.21 PAB 48.21

$66.8 CA$94.9

-27.82%

Gym Membership (Monthly)

$45.78 PAB 45.78

$56.8 CA$80.8

-19.46%

Tennis Court (1 Hour on Weekend)

$34.92 PAB 34.92

$14.53 CA$20.65

140.33%

Cinema Ticket

$8.67 PAB 8.67

$9.84 CA$13.98

-11.89%

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

$544 PAB 544

$860 CA$1,222

-36.69%

International Primary School, 1 Child (Yearly)

$9,697 PAB 9,697

$15.0K CA$21.3K

-35.16%

Jeans (Levis 501 Or Similar)

$66.8 PAB 66.8

$43.75 CA$62.2

52.57%

Summer Dress (H&M, Zara, etc)

$49.14 PAB 49.14

$32.25 CA$45.84

52.37%

Sport Shoes (Adidas, Nike)

$93.9 PAB 93.9

$95.6 CA$136

-1.78%

Men's Leather Business Shoes

$112 PAB 112

$115 CA$163

-2.74%

1-bedroom Apartment, City Center (Monthly)

$1,257 PAB 1,257

$1,133 CA$1,610

10.95%

1-bedroom Apartment, Outside City Center (Monthly)

$875 PAB 875

$1,053 CA$1,496

-16.89%

3-bedroom Apartment, City Center (Monthly)

$2,155 PAB 2,155

$1,917 CA$2,724

12.45%

3-bedroom Apartment, Outside City Center (Monthly)

$1,564 PAB 1,564

$1,191 CA$1,693

31.30%

Buy Apartment in City Center (m2)

$3,122 PAB 3,122

$1,406 CA$1,998

122.06%

Buy Apartment Outside City Center (m2)

$1,709 PAB 1,709

$1,269 CA$1,803

34.72%

Average Monthly Net Salary (After Tax)

$916 PAB 916

$2,644 CA$3,758

-65.36%

20-Year Fixed Mortgage Interest Rate (Annual %)

6.39

4.95

29.09%

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

Last update for Panama City: October 10, 2026

Last update for Yarmouth: October 12, 2026

Monthly budget structure

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

Accommodation & Living

Panama City

$875 47.2%

Yarmouth

$1.1K 48.5% 20.3% $178

Groceries & Markets

Panama City

$325 17.5%

Yarmouth

$325 15% 0.2% $0.5

Eating Out

Panama City

$207 11.1%

Yarmouth

$273 12.6% 32.2% $67

Monthly Utilities & Internet

Panama City

$206 11.1%

Yarmouth

$252 11.6% 22.4% $46

Clothing & Footwear

Panama City

$145 7.8%

Yarmouth

$129 5.9% 10.9% $16

Sport & Entertainment

Panama City

$63 3.4%

Yarmouth

$77 3.5% 21.2% $13

Getting Around

Panama City

$34 1.9%

Yarmouth

$62 2.9% 80.6% $28

Cost Breakdown

A central one-bedroom costs $1,257 in Panama City versus $1,133 in Yarmouth. 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 189% higher in Yarmouth, 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 $64.0 in Yarmouth. Monthly groceries follow the same trend: $325 vs $325 – making Panama City the more affordable choice for daily food spending.

Good to know

🇵🇦 Panama City

🇨🇦 Yarmouth

🕒 Local time

23:20 11:20 PM

01:20 1:20 AM

2 h ahead of Panama City

🌤 Weather

👥 Population

1,086,990 Capital

6,500

💱 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 Yarmouth 4,090 km ≈ 6 h nonstop flight

From you

Panama City
Yarmouth

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 Yarmouth: Cost of Living - Frequently Asked Questions

Yes – Yarmouth is pricier by about 17%, 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 $3,256 in Yarmouth. 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.

Interestingly, groceries are about 0% cheaper in Yarmouth – one category where the pricier city actually offers better value, probably thanks to stronger retail competition or local farming.

A mid-range dinner for two costs $48.00 in Panama City and $64.0 in Yarmouth. 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 Yarmouth at $2,171. In Panama City it covers expenses comfortably, while in Yarmouth 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, Yarmouth makes more sense. Both are solid long-term options with distinct trade-offs.