Cost of Living Comparison Between Panama and Canada Cost of Living Comparison Between Panama and Canada

Name: Canada
Address: CA

Monthly Cost of Living

A single person spends $839 per month in Panama vs $2,319 in Canada, rent included.

A couple spends around $1,204 per month in Panama vs $3,378 in Canada, rent included.

A family of three spends $1,568 per month in Panama vs $4,437 in Canada, rent included.

The cost of living in Panama is roughly 64% lower than in Canada on average – the gap runs across housing, groceries, transport, and services.

Panama sits 37% below the global median, while Canada is 74% above – they fall on opposite sides of the world average.

Meal at Budget Restaurant

$10.05 PAB 10.05

$18.63 CA$26.11

-46.05%

Three-Course Dinner for Two, Mid-Range

$49.64 PAB 49.64

$74.0 CA$104

-32.92%

Fast Food Meal (McDonalds, etc)

$7.37 PAB 7.37

$10.92 CA$15.31

-32.51%

Cappuccino

$3.53 PAB 3.53

$3.76 CA$5.28

-6.12%

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

$1.47 PAB 1.47

$2.19 CA$3.07

-32.88%

Water (0.33 liter bottle)

$1.24 PAB 1.24

$1.74 CA$2.43

-28.74%

Local Beer (0.5 liter draught)

$2.30 PAB 2.30

$5.93 CA$8.31

-61.21%

Imported Beer (0.33 liter bottle)

$3.69 PAB 3.69

$5.95 CA$8.35

-37.98%

Milk (1 liter)

$1.84 PAB 1.84

$2.28 CA$3.20

-19.30%

White Bread (500g)

$2.44 PAB 2.44

$2.67 CA$3.74

-8.61%

Rice (white) (1kg)

$2.36 PAB 2.36

$3.78 CA$5.30

-37.57%

Eggs

$2.69 PAB 2.69

$3.50 CA$4.90

-23.14%

Local Cheese (1kg)

$11.25 PAB 11.25

$11.70 CA$16.40

-3.85%

Chicken Fillets (1kg)

$7.32 PAB 7.32

$12.30 CA$17.24

-40.49%

Beef Round Steak (1kg)

$9.24 PAB 9.24

$15.44 CA$21.65

-40.16%

Apples (1kg)

$4.03 PAB 4.03

$4.28 CA$6.00

-5.84%

Banana (1kg)

$1.33 PAB 1.33

$1.45 CA$2.04

-8.28%

Oranges (1kg)

$2.89 PAB 2.89

$4.01 CA$5.62

-27.93%

Tomato (1kg)

$2.99 PAB 2.99

$4.27 CA$5.98

-29.98%

Potato (1kg)

$2.18 PAB 2.18

$2.69 CA$3.77

-18.96%

Onion (1kg)

$2.46 PAB 2.46

$2.65 CA$3.71

-7.17%

Lettuce (1 head)

$2.12 PAB 2.12

$2.64 CA$3.70

-19.70%

Water (1.5 liter bottle)

$1.63 PAB 1.63

$1.89 CA$2.65

-13.76%

Cigarettes 20 Pack (Marlboro, Camel)

$5.77 PAB 5.77

$14.77 CA$20.71

-60.93%

Wine (Bottle)

$9.98 PAB 9.98

$13.32 CA$18.67

-25.08%

Local Beer (0.5 liter bottle)

$1.21 PAB 1.21

$2.96 CA$4.15

-59.12%

Imported Beer (0.33 liter bottle)

$2.17 PAB 2.17

$3.28 CA$4.59

-33.84%

One-way Ticket (Public Transport)

$0.52 PAB 0.52

$2.62 CA$3.67

-80.15%

Public Transport Monthly Pass (Regular Price)

$25.39 PAB 25.39

$78.1 CA$110

-67.49%

Taxi Start (Normal Tariff)

$2.01 PAB 2.01

$3.42 CA$4.79

-41.23%

Taxi (Normal Tariff) (1km)

$2.06 PAB 2.06

$1.50 CA$2.10

37.33%

Taxi 1hour Waiting (Normal Tariff)

$20.72 PAB 20.72

$29.07 CA$40.76

-28.72%

Gasoline (1 liter)

$0.91 PAB 0.91

$1.20 CA$1.68

-24.17%

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

$22.1K PAB 22.1K

$25.5K CA$35.7K

-13.30%

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

$21.4K PAB 21.4K

$20.6K CA$28.8K

3.98%

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

$106 PAB 106

$152 CA$212

-30.00%

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

$28.57 PAB 28.57

$46.70 CA$65.5

-38.82%

Internet (50+ Mbps, Unlimited Data)

$48.55 PAB 48.55

$61.8 CA$86.7

-21.49%

Gym Membership (Monthly)

$50.5 PAB 50.5

$43.36 CA$60.8

16.44%

Tennis Court (1 Hour on Weekend)

$33.26 PAB 33.26

$18.05 CA$25.31

84.27%

Cinema Ticket

$6.96 PAB 6.96

$11.51 CA$16.13

-39.53%

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

$445 PAB 445

$806 CA$1,130

-44.79%

International Primary School, 1 Child (Yearly)

$11.3K PAB 11.3K

$12.1K CA$17.0K

-7.04%

Jeans (Levis 501 Or Similar)

$47.40 PAB 47.40

$55.4 CA$77.6

-14.41%

Summer Dress (H&M, Zara, etc)

$40.37 PAB 40.37

$41.80 CA$58.6

-3.42%

Sport Shoes (Adidas, Nike)

$83.5 PAB 83.5

$89.7 CA$126

-7.00%

Men's Leather Business Shoes

$116 PAB 116

$106 CA$149

9.91%

1-bedroom Apartment, City Center (Monthly)

$933 PAB 933

$1,329 CA$1,864

-29.78%

1-bedroom Apartment, Outside City Center (Monthly)

$722 PAB 722

$1,207 CA$1,692

-40.18%

3-bedroom Apartment, City Center (Monthly)

$1,721 PAB 1,721

$2,112 CA$2,961

-18.54%

3-bedroom Apartment, Outside City Center (Monthly)

$1,333 PAB 1,333

$1,833 CA$2,570

-27.26%

Buy Apartment in City Center (m2)

$2,974 PAB 2,974

$4,639 CA$6,503

-35.88%

Buy Apartment Outside City Center (m2)

$1,701 PAB 1,701

$3,849 CA$5,396

-55.80%

Average Monthly Net Salary (After Tax)

$813 PAB 813

$2,948 CA$4,133

-72.44%

20-Year Fixed Mortgage Interest Rate (Annual %)

6.3

6.33

-0.47%

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

Last update for Panama: July 12, 2026

Last update for Canada: July 14, 2026

Cost Breakdown

Average rent: $371 in Panama vs $1,281 in Canada. For reference, capital cities sit at $1,158 in Panama City and $1,481 in Ottawa.

Average salary: $713 in Panama vs $2,904 in Canada. The income gap affects purchasing power and how far your budget stretches in each country.

Cost Highlights

Rent is 245% higher in Canada.

Dining out costs 152% more in Canada.

Public transport is 1200% more expensive in Canada.

Salaries are 307% higher in Canada, and purchasing power comes out stronger in Canada.

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 vs Canada: Cost of Living - Frequently Asked Questions

Panama is the cheaper option – living costs run roughly 147% lower on average. The gap is consistent across housing, groceries, transport, and entertainment.

Housing costs more in Canada, and the gap is biggest in capital cities. Regional towns show less difference, but Canada consistently has higher rents.

Groceries, transport, and utilities all cost less in Panama, contributing to the overall 147% price gap. The savings show up everywhere – from supermarket receipts to monthly bills.

$2,000 buys a comfortable lifestyle in Panama, but in Canada it only works with careful planning outside the capital. Same money, very different lives.

Panama is the budget-friendly choice for expats – lower housing and daily costs. But cost isn't everything: visa policies, language, healthcare quality, and job markets all weigh in too.