Cost of Living Comparison Between Panama and Italy Cost of Living Comparison Between Panama and Italy

Name: Italy
Address: IT

Monthly Cost of Living

Monthly costs for one person with rent: $800 in Panama versus $1,792 in Italy.

Estimated couple costs with rent: $1,193 in Panama versus $2,735 in Italy.

Monthly costs for a family of three with rent: $1,586 in Panama versus $3,678 in Italy.

Living in Panama costs about 55% less than in Italy on average.

Panama (42% below) and Italy (30% above) straddle the global median.

Meal at Budget Restaurant

$8.03 PAB 8.03

$21.31 €18.39

-62.32%

Three-Course Dinner for Two, Mid-Range

$45.89 PAB 45.89

$81.6 €70.4

-43.75%

Fast Food Meal (McDonalds, etc)

$8.20 PAB 8.20

$11.64 €10.04

-29.55%

Cappuccino

$3.93 PAB 3.93

$2.02 €1.75

94.55%

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

$1.56 PAB 1.56

$3.15 €2.72

-50.48%

Water (0.33 liter bottle)

$1.31 PAB 1.31

$1.45 €1.25

-9.66%

Local Beer (0.5 liter draught)

$2.44 PAB 2.44

$5.69 €4.91

-57.12%

Imported Beer (0.33 liter bottle)

$3.90 PAB 3.90

$5.94 €5.13

-34.34%

Milk (1 liter)

$1.81 PAB 1.81

$1.69 €1.46

7.10%

White Bread (500g)

$2.36 PAB 2.36

$2.48 €2.14

-4.84%

Rice (white) (1kg)

$2.86 PAB 2.86

$2.97 €2.56

-3.70%

Eggs

$2.56 PAB 2.56

$4.32 €3.73

-40.74%

Local Cheese (1kg)

$12.41 PAB 12.41

$17.42 €15.04

-28.76%

Chicken Fillets (1kg)

$6.96 PAB 6.96

$12.79 €11.04

-45.58%

Beef Round Steak (1kg)

$9.87 PAB 9.87

$21.28 €18.36

-53.62%

Apples (1kg)

$4.24 PAB 4.24

$2.64 €2.28

60.61%

Banana (1kg)

$1.49 PAB 1.49

$2.21 €1.91

-32.58%

Oranges (1kg)

$3.34 PAB 3.34

$2.79 €2.41

19.71%

Tomato (1kg)

$3.68 PAB 3.68

$3.37 €2.91

9.20%

Potato (1kg)

$2.46 PAB 2.46

$2.10 €1.81

17.14%

Onion (1kg)

$3.24 PAB 3.24

$1.97 €1.70

64.47%

Lettuce (1 head)

$2.24 PAB 2.24

$1.60 €1.38

40.00%

Water (1.5 liter bottle)

$1.59 PAB 1.59

$0.57 €0.49

178.95%

Cigarettes 20 Pack (Marlboro, Camel)

$5.84 PAB 5.84

$7.13 €6.15

-18.09%

Wine (Bottle)

$10.08 PAB 10.08

$7.59 €6.55

32.81%

Local Beer (0.5 liter bottle)

$1.39 PAB 1.39

$1.85 €1.59

-24.86%

Imported Beer (0.33 liter bottle)

$2.35 PAB 2.35

$2.50 €2.15

-6.00%

One-way Ticket (Public Transport)

$0.52 PAB 0.52

$2.00 €1.72

-74.00%

Public Transport Monthly Pass (Regular Price)

$21.16 PAB 21.16

$45.09 €38.91

-53.07%

Taxi Start (Normal Tariff)

$2.47 PAB 2.47

$5.80 €5.00

-57.41%

Taxi (Normal Tariff) (1km)

$1.86 PAB 1.86

$1.79 €1.54

3.91%

Taxi 1hour Waiting (Normal Tariff)

$22.19 PAB 22.19

$34.95 €30.16

-36.51%

Gasoline (1 liter)

$1.13 PAB 1.13

$2.13 €1.83

-46.95%

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

$21.5K PAB 21.5K

$37.4K €32.2K

-42.35%

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

$22.8K PAB 22.8K

$36.3K €31.3K

-37.23%

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

$115 PAB 115

$239 €206

-51.62%

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

$26.80 PAB 26.80

$12.14 €10.48

120.76%

Internet (50+ Mbps, Unlimited Data)

$47.78 PAB 47.78

$31.42 €27.11

52.07%

Gym Membership (Monthly)

$49.45 PAB 49.45

$54.9 €47.40

-9.98%

Tennis Court (1 Hour on Weekend)

$29.33 PAB 29.33

$24.84 €21.44

18.08%

Cinema Ticket

$7.86 PAB 7.86

$10.92 €9.43

-28.02%

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

$546 PAB 546

$568 €490

-3.75%

International Primary School, 1 Child (Yearly)

$7,950 PAB 7,950

$12.2K €10.6K

-35.00%

Jeans (Levis 501 Or Similar)

$51.3 PAB 51.3

$93.7 €80.8

-45.24%

Summer Dress (H&M, Zara, etc)

$38.17 PAB 38.17

$40.71 €35.13

-6.24%

Sport Shoes (Adidas, Nike)

$89.7 PAB 89.7

$105 €90.5

-14.52%

Men's Leather Business Shoes

$118 PAB 118

$139 €120

-15.58%

1-bedroom Apartment, City Center (Monthly)

$937 PAB 937

$857 €740

9.31%

1-bedroom Apartment, Outside City Center (Monthly)

$728 PAB 728

$657 €567

10.81%

3-bedroom Apartment, City Center (Monthly)

$1,675 PAB 1,675

$1,476 €1,274

13.47%

3-bedroom Apartment, Outside City Center (Monthly)

$1,212 PAB 1,212

$1,093 €943

10.93%

Buy Apartment in City Center (m2)

$2,983 PAB 2,983

$3,786 €3,267

-21.20%

Buy Apartment Outside City Center (m2)

$1,684 PAB 1,684

$2,332 €2,012

-27.76%

Average Monthly Net Salary (After Tax)

$842 PAB 842

$1,928 €1,664

-56.34%

20-Year Fixed Mortgage Interest Rate (Annual %)

6.35

3.57

77.87%

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

Last update for Panama: August 31, 2026

Last update for Italy: August 31, 2026

Cost Breakdown

National rent averages: $340 in Panama, $758 in Italy. Capital cities: $1,276 in Panama City vs $1,244 in Rome.

National salary averages: $719 in Panama, $1,967 in Italy. Higher pay doesn't always mean more spending money – weigh income against local costs.

Cost Highlights

Rent is 123% higher in Italy.

Dining out costs 171% more in Italy.

Public transport is 1333% more expensive in Italy.

Salaries are 174% higher in Italy, and purchasing power comes out stronger in Italy.

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 Italy: Cost of Living - Frequently Asked Questions

At $1,907 per month in Italy and $938 in Panama, there's a 103% gap. Keep in mind it varies by city – the difference can be bigger or smaller depending on where you settle within each country.

Day-to-day life is simply cheaper in Panama: lower food prices, cheaper commutes, smaller household bills. Over time, those daily savings make a real difference to your monthly budget and ability to put money away.

Rent in Italy is consistently higher than in Panama across the board, especially in major cities. Housing is usually the single biggest driver of the overall cost difference between the two countries.

In Panama, $2,000 covers most cities easily; in Italy it stretches only to regional areas and falls short in the capital – you'll need to make trade-offs on housing or lifestyle.

It depends on what you're after: Panama wins on affordability; Italy may offer higher salaries, better infrastructure, and different cultural perks. Both attract large expat communities for different reasons.