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 $800 per month in Panama vs $2,214 in Canada, rent included.

A couple spends around $1,193 per month in Panama vs $3,247 in Canada, rent included.

A family of three spends $1,586 per month in Panama vs $4,279 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 42% below the global median, while Canada is 61% above – they fall on opposite sides of the world average.

Meal at Budget Restaurant

$8.03 PAB 8.03

$17.99 CA$24.90

-55.36%

Three-Course Dinner for Two, Mid-Range

$45.89 PAB 45.89

$71.3 CA$98.7

-35.62%

Fast Food Meal (McDonalds, etc)

$8.20 PAB 8.20

$10.91 CA$15.10

-24.84%

Cappuccino

$3.93 PAB 3.93

$3.88 CA$5.37

1.29%

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

$1.56 PAB 1.56

$2.17 CA$3.01

-28.11%

Water (0.33 liter bottle)

$1.31 PAB 1.31

$1.67 CA$2.32

-21.56%

Local Beer (0.5 liter draught)

$2.44 PAB 2.44

$5.80 CA$8.03

-57.93%

Imported Beer (0.33 liter bottle)

$3.90 PAB 3.90

$5.81 CA$8.05

-32.87%

Milk (1 liter)

$1.81 PAB 1.81

$2.19 CA$3.04

-17.35%

White Bread (500g)

$2.36 PAB 2.36

$2.75 CA$3.81

-14.18%

Rice (white) (1kg)

$2.86 PAB 2.86

$3.69 CA$5.11

-22.49%

Eggs

$2.56 PAB 2.56

$3.68 CA$5.09

-30.43%

Local Cheese (1kg)

$12.41 PAB 12.41

$10.83 CA$15.00

14.59%

Chicken Fillets (1kg)

$6.96 PAB 6.96

$12.20 CA$16.89

-42.95%

Beef Round Steak (1kg)

$9.87 PAB 9.87

$15.58 CA$21.58

-36.65%

Apples (1kg)

$4.24 PAB 4.24

$4.18 CA$5.79

1.44%

Banana (1kg)

$1.49 PAB 1.49

$1.42 CA$1.96

4.93%

Oranges (1kg)

$3.34 PAB 3.34

$4.02 CA$5.57

-16.92%

Tomato (1kg)

$3.68 PAB 3.68

$4.17 CA$5.78

-11.75%

Potato (1kg)

$2.46 PAB 2.46

$2.73 CA$3.78

-9.89%

Onion (1kg)

$3.24 PAB 3.24

$2.54 CA$3.52

27.56%

Lettuce (1 head)

$2.24 PAB 2.24

$2.57 CA$3.55

-12.84%

Water (1.5 liter bottle)

$1.59 PAB 1.59

$1.72 CA$2.38

-7.56%

Cigarettes 20 Pack (Marlboro, Camel)

$5.84 PAB 5.84

$14.43 CA$19.98

-59.53%

Wine (Bottle)

$10.08 PAB 10.08

$13.62 CA$18.86

-25.99%

Local Beer (0.5 liter bottle)

$1.39 PAB 1.39

$2.90 CA$4.01

-52.07%

Imported Beer (0.33 liter bottle)

$2.35 PAB 2.35

$3.26 CA$4.52

-27.91%

One-way Ticket (Public Transport)

$0.52 PAB 0.52

$2.48 CA$3.43

-79.03%

Public Transport Monthly Pass (Regular Price)

$21.16 PAB 21.16

$74.9 CA$104

-71.74%

Taxi Start (Normal Tariff)

$2.47 PAB 2.47

$3.11 CA$4.31

-20.58%

Taxi (Normal Tariff) (1km)

$1.86 PAB 1.86

$1.48 CA$2.05

25.68%

Taxi 1hour Waiting (Normal Tariff)

$22.19 PAB 22.19

$27.37 CA$37.90

-18.93%

Gasoline (1 liter)

$1.13 PAB 1.13

$1.17 CA$1.63

-3.42%

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

$21.5K PAB 21.5K

$28.1K CA$38.9K

-23.42%

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

$22.8K PAB 22.8K

$20.0K CA$27.7K

13.98%

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

$115 PAB 115

$154 CA$214

-25.18%

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

$26.80 PAB 26.80

$43.31 CA$60.0

-38.12%

Internet (50+ Mbps, Unlimited Data)

$47.78 PAB 47.78

$60.3 CA$83.5

-20.80%

Gym Membership (Monthly)

$49.45 PAB 49.45

$41.22 CA$57.1

19.97%

Tennis Court (1 Hour on Weekend)

$29.33 PAB 29.33

$20.08 CA$27.80

46.07%

Cinema Ticket

$7.86 PAB 7.86

$11.64 CA$16.12

-32.47%

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

$546 PAB 546

$782 CA$1,083

-30.17%

International Primary School, 1 Child (Yearly)

$7,950 PAB 7,950

$14.8K CA$20.5K

-46.36%

Jeans (Levis 501 Or Similar)

$51.3 PAB 51.3

$54.9 CA$76.1

-6.63%

Summer Dress (H&M, Zara, etc)

$38.17 PAB 38.17

$39.73 CA$55.0

-3.93%

Sport Shoes (Adidas, Nike)

$89.7 PAB 89.7

$90.3 CA$125

-0.66%

Men's Leather Business Shoes

$118 PAB 118

$107 CA$148

10.24%

1-bedroom Apartment, City Center (Monthly)

$937 PAB 937

$1,317 CA$1,824

-28.85%

1-bedroom Apartment, Outside City Center (Monthly)

$728 PAB 728

$1,136 CA$1,572

-35.89%

3-bedroom Apartment, City Center (Monthly)

$1,675 PAB 1,675

$2,089 CA$2,892

-19.79%

3-bedroom Apartment, Outside City Center (Monthly)

$1,212 PAB 1,212

$1,809 CA$2,505

-33.01%

Buy Apartment in City Center (m2)

$2,983 PAB 2,983

$4,846 CA$6,710

-38.45%

Buy Apartment Outside City Center (m2)

$1,684 PAB 1,684

$3,928 CA$5,439

-57.12%

Average Monthly Net Salary (After Tax)

$842 PAB 842

$2,998 CA$4,151

-71.92%

20-Year Fixed Mortgage Interest Rate (Annual %)

6.35

4.86

30.66%

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

Last update for Panama: August 31, 2026

Last update for Canada: August 31, 2026

Cost Breakdown

Average rent: $340 in Panama vs $1,225 in Canada. For reference, capital cities sit at $1,276 in Panama City and $1,501 in Ottawa.

Average salary: $719 in Panama vs $2,968 in Canada. The income gap affects purchasing power and how far your budget stretches in each country.

Cost Highlights

Rent is 260% higher in Canada.

Dining out costs 136% more in Canada.

Public transport is 1867% more expensive in Canada.

Salaries are 313% 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 148% 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 148% 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.