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: $839 in Panama versus $1,717 in Italy.

Estimated couple costs with rent: $1,204 in Panama versus $2,624 in Italy.

Monthly costs for a family of three with rent: $1,568 in Panama versus $3,530 in Italy.

Living in Panama costs about 51% less than in Italy on average.

Panama (37% below) and Italy (28% above) straddle the global median.

Meal at Budget Restaurant

$9.83 PAB 9.83

$17.44 €15.00

-43.64%

Three-Course Dinner for Two, Mid-Range

$49.27 PAB 49.27

$79.5 €68.4

-38.00%

Fast Food Meal (McDonalds, etc)

$7.71 PAB 7.71

$11.76 €10.11

-34.44%

Cappuccino

$3.58 PAB 3.58

$2.00 €1.72

79.00%

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

$1.47 PAB 1.47

$3.00 €2.58

-51.00%

Water (0.33 liter bottle)

$1.28 PAB 1.28

$1.35 €1.16

-5.19%

Local Beer (0.5 liter draught)

$2.19 PAB 2.19

$5.94 €5.11

-63.13%

Imported Beer (0.33 liter bottle)

$3.69 PAB 3.69

$5.36 €4.61

-31.16%

Milk (1 liter)

$1.79 PAB 1.79

$1.64 €1.41

9.15%

White Bread (500g)

$2.48 PAB 2.48

$2.41 €2.07

2.90%

Rice (white) (1kg)

$2.31 PAB 2.31

$2.99 €2.58

-22.74%

Eggs

$2.63 PAB 2.63

$3.96 €3.41

-33.59%

Local Cheese (1kg)

$11.15 PAB 11.15

$16.84 €14.49

-33.79%

Chicken Fillets (1kg)

$7.03 PAB 7.03

$12.43 €10.69

-43.44%

Beef Round Steak (1kg)

$9.03 PAB 9.03

$20.29 €17.46

-55.50%

Apples (1kg)

$3.91 PAB 3.91

$2.47 €2.13

58.30%

Banana (1kg)

$1.33 PAB 1.33

$2.15 €1.85

-38.14%

Oranges (1kg)

$2.88 PAB 2.88

$2.65 €2.28

8.68%

Tomato (1kg)

$3.05 PAB 3.05

$3.40 €2.92

-10.29%

Potato (1kg)

$2.17 PAB 2.17

$1.92 €1.65

13.02%

Onion (1kg)

$2.37 PAB 2.37

$1.81 €1.56

30.94%

Lettuce (1 head)

$2.07 PAB 2.07

$1.55 €1.33

33.55%

Water (1.5 liter bottle)

$1.64 PAB 1.64

$0.54 €0.46

203.70%

Cigarettes 20 Pack (Marlboro, Camel)

$6.08 PAB 6.08

$6.79 €5.84

-10.46%

Wine (Bottle)

$10.16 PAB 10.16

$7.18 €6.18

41.50%

Local Beer (0.5 liter bottle)

$1.25 PAB 1.25

$1.80 €1.55

-30.56%

Imported Beer (0.33 liter bottle)

$2.22 PAB 2.22

$2.42 €2.08

-8.26%

One-way Ticket (Public Transport)

$0.52 PAB 0.52

$2.00 €1.72

-74.00%

Public Transport Monthly Pass (Regular Price)

$25.30 PAB 25.30

$42.35 €36.43

-40.26%

Taxi Start (Normal Tariff)

$2.02 PAB 2.02

$5.94 €5.11

-65.99%

Taxi (Normal Tariff) (1km)

$1.97 PAB 1.97

$1.51 €1.30

30.46%

Taxi 1hour Waiting (Normal Tariff)

$20.62 PAB 20.62

$34.04 €29.28

-39.42%

Gasoline (1 liter)

$0.88 PAB 0.88

$2.05 €1.76

-57.07%

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

$22.1K PAB 22.1K

$32.8K €28.2K

-32.70%

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

$20.7K PAB 20.7K

$33.7K €29.0K

-38.64%

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

$108 PAB 108

$225 €194

-51.95%

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

$29.06 PAB 29.06

$13.25 €11.40

119.32%

Internet (50+ Mbps, Unlimited Data)

$48.71 PAB 48.71

$30.95 €26.62

57.38%

Gym Membership (Monthly)

$49.82 PAB 49.82

$55.7 €47.95

-10.62%

Tennis Court (1 Hour on Weekend)

$33.48 PAB 33.48

$25.15 €21.63

33.12%

Cinema Ticket

$6.79 PAB 6.79

$10.25 €8.82

-33.76%

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

$451 PAB 451

$576 €495

-21.70%

International Primary School, 1 Child (Yearly)

$11.4K PAB 11.4K

$10.5K €8,998

9.19%

Jeans (Levis 501 Or Similar)

$46.60 PAB 46.60

$91.8 €79.0

-49.25%

Summer Dress (H&M, Zara, etc)

$41.52 PAB 41.52

$40.72 €35.03

1.96%

Sport Shoes (Adidas, Nike)

$83.5 PAB 83.5

$98.0 €84.3

-14.85%

Men's Leather Business Shoes

$117 PAB 117

$131 €112

-10.78%

1-bedroom Apartment, City Center (Monthly)

$933 PAB 933

$860 €740

8.57%

1-bedroom Apartment, Outside City Center (Monthly)

$728 PAB 728

$667 €573

9.26%

3-bedroom Apartment, City Center (Monthly)

$1,732 PAB 1,732

$1,475 €1,269

17.45%

3-bedroom Apartment, Outside City Center (Monthly)

$1,363 PAB 1,363

$1,087 €935

25.41%

Buy Apartment in City Center (m2)

$2,991 PAB 2,991

$3,850 €3,312

-22.32%

Buy Apartment Outside City Center (m2)

$1,673 PAB 1,673

$2,359 €2,029

-29.08%

Average Monthly Net Salary (After Tax)

$820 PAB 820

$1,933 €1,663

-57.58%

20-Year Fixed Mortgage Interest Rate (Annual %)

6.3

4.41

42.86%

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

Last update for Panama: June 2, 2026

Last update for Italy: May 31, 2026

Cost Breakdown

National rent averages: $368 in Panama, $743 in Italy. Capital cities: $1,157 in Panama City vs $1,325 in Rome.

National salary averages: $720 in Panama, $1,949 in Italy. Higher pay doesn't always mean more spending money – weigh income against local costs.

Cost Highlights

Rent is 102% higher in Italy.

Dining out costs 174% more in Italy.

Public transport is 780% more expensive in Italy.

Salaries are 171% higher in Italy, giving Italy stronger purchasing power.

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 $1,839 per month in Italy and $882 in Panama, there's a 109% gap. Keep in mind it varies by city – the difference can be bigger or smaller depending on where you settle within each country.

Panama is simply cheaper day-to-day: 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 beats 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 works in regional areas but 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.