Cost of Living Comparison Between Panama and Mexico Cost of Living Comparison Between Panama and Mexico

Name: Mexico
Address: MX

Monthly Cost of Living

Monthly costs for one person with rent: $839 in Panama versus $1,121 in Mexico.

Estimated couple costs with rent: $1,204 in Panama versus $1,791 in Mexico.

Monthly costs for a family of three with rent: $1,568 in Panama versus $2,461 in Mexico.

Living in Panama costs about 25% less than in Mexico on average.

Both countries sit below the global median: Panama 37% lower, Mexico 16% lower.

Meal at Budget Restaurant

$9.83 PAB 9.83

$10.51 MX$182

-6.47%

Three-Course Dinner for Two, Mid-Range

$49.27 PAB 49.27

$41.93 MX$725

17.51%

Fast Food Meal (McDonalds, etc)

$7.71 PAB 7.71

$7.84 MX$136

-1.66%

Cappuccino

$3.58 PAB 3.58

$3.42 MX$59.2

4.68%

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

$1.47 PAB 1.47

$1.32 MX$22.83

11.36%

Water (0.33 liter bottle)

$1.28 PAB 1.28

$0.98 MX$16.98

30.61%

Local Beer (0.5 liter draught)

$2.19 PAB 2.19

$2.36 MX$40.81

-7.20%

Imported Beer (0.33 liter bottle)

$3.69 PAB 3.69

$4.27 MX$73.8

-13.58%

Milk (1 liter)

$1.79 PAB 1.79

$1.51 MX$26.15

18.54%

White Bread (500g)

$2.48 PAB 2.48

$2.66 MX$45.95

-6.77%

Rice (white) (1kg)

$2.31 PAB 2.31

$1.70 MX$29.46

35.88%

Eggs

$2.63 PAB 2.63

$2.35 MX$40.66

11.91%

Local Cheese (1kg)

$11.15 PAB 11.15

$8.40 MX$145

32.74%

Chicken Fillets (1kg)

$7.03 PAB 7.03

$7.55 MX$131

-6.89%

Beef Round Steak (1kg)

$9.03 PAB 9.03

$10.84 MX$187

-16.70%

Apples (1kg)

$3.91 PAB 3.91

$2.72 MX$47.13

43.75%

Banana (1kg)

$1.33 PAB 1.33

$1.51 MX$26.08

-11.92%

Oranges (1kg)

$2.88 PAB 2.88

$1.92 MX$33.26

50.00%

Tomato (1kg)

$3.05 PAB 3.05

$1.80 MX$31.14

69.44%

Potato (1kg)

$2.17 PAB 2.17

$2.03 MX$35.07

6.90%

Onion (1kg)

$2.37 PAB 2.37

$1.99 MX$34.49

19.10%

Lettuce (1 head)

$2.07 PAB 2.07

$1.31 MX$22.71

58.02%

Water (1.5 liter bottle)

$1.64 PAB 1.64

$1.06 MX$18.26

54.72%

Cigarettes 20 Pack (Marlboro, Camel)

$6.08 PAB 6.08

$4.26 MX$73.7

42.72%

Wine (Bottle)

$10.16 PAB 10.16

$11.56 MX$200

-12.11%

Local Beer (0.5 liter bottle)

$1.25 PAB 1.25

$1.58 MX$27.25

-20.89%

Imported Beer (0.33 liter bottle)

$2.22 PAB 2.22

$3.03 MX$52.3

-26.73%

One-way Ticket (Public Transport)

$0.52 PAB 0.52

$0.61 MX$10.48

-14.75%

Public Transport Monthly Pass (Regular Price)

$25.30 PAB 25.30

$26.28 MX$455

-3.73%

Taxi Start (Normal Tariff)

$2.02 PAB 2.02

$2.69 MX$46.54

-24.91%

Taxi (Normal Tariff) (1km)

$1.97 PAB 1.97

$1.93 MX$33.37

2.07%

Taxi 1hour Waiting (Normal Tariff)

$20.62 PAB 20.62

$10.64 MX$184

93.80%

Gasoline (1 liter)

$0.88 PAB 0.88

$1.32 MX$22.91

-33.33%

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

$22.1K PAB 22.1K

$20.1K MX$346.9K

10.18%

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

$20.7K PAB 20.7K

$23.4K MX$405.5K

-11.85%

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

$108 PAB 108

$62.4 MX$1,080

73.52%

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

$29.06 PAB 29.06

$23.27 MX$403

24.88%

Internet (50+ Mbps, Unlimited Data)

$48.71 PAB 48.71

$28.56 MX$494

70.55%

Gym Membership (Monthly)

$49.82 PAB 49.82

$34.68 MX$600

43.66%

Tennis Court (1 Hour on Weekend)

$33.48 PAB 33.48

$18.65 MX$323

79.52%

Cinema Ticket

$6.79 PAB 6.79

$4.69 MX$81.1

44.78%

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

$451 PAB 451

$249 MX$4,308

81.02%

International Primary School, 1 Child (Yearly)

$11.4K PAB 11.4K

$5,774 MX$99.9K

97.80%

Jeans (Levis 501 Or Similar)

$46.60 PAB 46.60

$52.3 MX$904

-10.81%

Summer Dress (H&M, Zara, etc)

$41.52 PAB 41.52

$40.31 MX$697

3.00%

Sport Shoes (Adidas, Nike)

$83.5 PAB 83.5

$93.0 MX$1,609

-10.30%

Men's Leather Business Shoes

$117 PAB 117

$87.6 MX$1,515

33.18%

1-bedroom Apartment, City Center (Monthly)

$933 PAB 933

$639 MX$11.1K

46.04%

1-bedroom Apartment, Outside City Center (Monthly)

$728 PAB 728

$448 MX$7,743

62.72%

3-bedroom Apartment, City Center (Monthly)

$1,732 PAB 1,732

$1,226 MX$21.2K

41.28%

3-bedroom Apartment, Outside City Center (Monthly)

$1,363 PAB 1,363

$870 MX$15.0K

56.67%

Buy Apartment in City Center (m2)

$2,991 PAB 2,991

$2,628 MX$45.5K

13.80%

Buy Apartment Outside City Center (m2)

$1,673 PAB 1,673

$1,563 MX$27.0K

7.04%

Average Monthly Net Salary (After Tax)

$820 PAB 820

$825 MX$14.3K

-0.65%

20-Year Fixed Mortgage Interest Rate (Annual %)

6.3

11.45

-44.98%

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

Last update for Panama: June 2, 2026

Last update for Mexico: May 30, 2026

Cost Breakdown

National rent averages: $368 in Panama, $530 in Mexico. Capital cities: $1,157 in Panama City vs $1,022 in Mexico City.

National salary averages: $720 in Panama, $772 in Mexico. Higher pay doesn't always mean more spending money – weigh income against local costs.

Cost Highlights

Rent is 44% higher in Mexico.

Dining out costs 44% more in Mexico.

Public transport is 120% more expensive in Mexico.

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 Mexico: Cost of Living - Frequently Asked Questions

At $1,542 per month in Mexico and $882 in Panama, there's a 75% 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 Mexico 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 Mexico, 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; Mexico may offer higher salaries, better infrastructure, and different cultural perks. Both attract large expat communities for different reasons.