Last update: Oct 2026

Cost of Living Comparison Between Panama and Monterrey

For one person, living costs are similar in Panama and in Monterrey: $1,604 and $1,607 a month, rent and utilities included.

77

Cost of Living Index in Panama
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Panama Living Index
79

Cost of Living Index in Monterrey
Learn more

Monterrey Living Index

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🇵🇦 Panama

$1,604

/mo nomad

Monterrey

🇲🇽 Mexico

$1,607

/mo nomad

🙂 Solo nomad: Panama is 7% cheaper than Monterrey without rent, and 0.2% cheaper with rent.

🙂 Family of 3: Panama is 7.8% cheaper than Monterrey without rent, and 3.3% cheaper with rent.

Meal at Budget Restaurant

$7.86 PAB 7.86

$13.75 MX$252

-42.84%

Three-Course Dinner for Two, Mid-Range

$44.75 PAB 44.75

$50.2 MX$921

-10.82%

Fast Food Meal (McDonalds, etc)

$7.89 PAB 7.89

$11.13 MX$204

-29.11%

Cappuccino

$3.84 PAB 3.84

$4.04 MX$74.2

-4.95%

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

$1.59 PAB 1.59

$1.70 MX$31.29

-6.47%

Water (0.33 liter bottle)

$1.41 PAB 1.41

$0.99 MX$18.17

42.42%

Local Beer (0.5 liter draught)

$2.19 PAB 2.19

$2.41 MX$44.21

-9.13%

Imported Beer (0.33 liter bottle)

$4.04 PAB 4.04

$4.48 MX$82.3

-9.82%

Milk (1 liter)

$1.85 PAB 1.85

$1.92 MX$35.31

-3.65%

White Bread (500g)

$2.32 PAB 2.32

$2.89 MX$53.1

-19.72%

Rice (white) (1kg)

$2.99 PAB 2.99

$1.94 MX$35.67

54.12%

Eggs

$2.48 PAB 2.48

$2.50 MX$45.90

-0.80%

Local Cheese (1kg)

$12.28 PAB 12.28

$12.30 MX$226

-0.16%

Chicken Fillets (1kg)

$6.94 PAB 6.94

$9.33 MX$171

-25.62%

Beef Round Steak (1kg)

$10.11 PAB 10.11

$13.07 MX$240

-22.65%

Apples (1kg)

$4.18 PAB 4.18

$3.38 MX$62.1

23.67%

Banana (1kg)

$1.48 PAB 1.48

$1.58 MX$29.02

-6.33%

Oranges (1kg)

$3.65 PAB 3.65

$2.20 MX$40.45

65.91%

Tomato (1kg)

$3.73 PAB 3.73

$2.45 MX$44.89

52.24%

Potato (1kg)

$2.50 PAB 2.50

$2.26 MX$41.47

10.62%

Onion (1kg)

$3.29 PAB 3.29

$2.74 MX$50.4

20.07%

Lettuce (1 head)

$2.34 PAB 2.34

$1.53 MX$28.09

52.94%

Water (1.5 liter bottle)

$1.57 PAB 1.57

$1.26 MX$23.16

24.60%

Cigarettes 20 Pack (Marlboro, Camel)

$6.08 PAB 6.08

$4.84 MX$88.9

25.62%

Wine (Bottle)

$9.88 PAB 9.88

$13.59 MX$249

-27.30%

Local Beer (0.5 liter bottle)

$1.39 PAB 1.39

$1.91 MX$35.01

-27.23%

Imported Beer (0.33 liter bottle)

$2.42 PAB 2.42

$3.06 MX$56.3

-20.92%

One-way Ticket (Public Transport)

$0.43 PAB 0.43

$0.80 MX$14.60

-46.25%

Public Transport Monthly Pass (Regular Price)

$20.96 PAB 20.96

$31.77 MX$583

-34.03%

Taxi Start (Normal Tariff)

$2.43 PAB 2.43

$1.62 MX$29.78

50.00%

Taxi (Normal Tariff) (1km)

$1.82 PAB 1.82

$1.10 MX$20.17

65.45%

Taxi 1hour Waiting (Normal Tariff)

$21.79 PAB 21.79

$10.97 MX$201

98.63%

Gasoline (1 liter)

$1.18 PAB 1.18

$1.52 MX$27.93

-22.37%

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

$21.5K PAB 21.5K

$21.4K MX$392.4K

0.56%

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

$22.2K PAB 22.2K

$25.5K MX$467.6K

-12.85%

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

$119 PAB 119

$120 MX$2,198

-0.60%

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

$27.03 PAB 27.03

$27.08 MX$497

-0.18%

Internet (50+ Mbps, Unlimited Data)

$47.70 PAB 47.70

$26.70 MX$490

78.65%

Gym Membership (Monthly)

$48.94 PAB 48.94

$31.15 MX$572

57.11%

Tennis Court (1 Hour on Weekend)

$30.16 PAB 30.16

$21.95 MX$403

37.40%

Cinema Ticket

$7.84 PAB 7.84

$5.14 MX$94.4

52.53%

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

$536 PAB 536

$688 MX$12.6K

-22.12%

International Primary School, 1 Child (Yearly)

$8,069 PAB 8,069

$11.4K MX$209.8K

-29.38%

Jeans (Levis 501 Or Similar)

$53.5 PAB 53.5

$71.9 MX$1,321

-25.64%

Summer Dress (H&M, Zara, etc)

$42.77 PAB 42.77

$43.30 MX$795

-1.22%

Sport Shoes (Adidas, Nike)

$87.4 PAB 87.4

$112 MX$2,059

-22.06%

Men's Leather Business Shoes

$103 PAB 103

$122 MX$2,236

-15.15%

1-bedroom Apartment, City Center (Monthly)

$944 PAB 944

$957 MX$17.6K

-1.33%

1-bedroom Apartment, Outside City Center (Monthly)

$697 PAB 697

$670 MX$12.3K

3.93%

3-bedroom Apartment, City Center (Monthly)

$1,728 PAB 1,728

$1,887 MX$34.7K

-8.46%

3-bedroom Apartment, Outside City Center (Monthly)

$1,262 PAB 1,262

$1,305 MX$24.0K

-3.23%

Buy Apartment in City Center (m2)

$2,941 PAB 2,941

$4,159 MX$76.4K

-29.28%

Buy Apartment Outside City Center (m2)

$1,673 PAB 1,673

$2,437 MX$44.7K

-31.35%

Average Monthly Net Salary (After Tax)

$826 PAB 826

$1,133 MX$20.8K

-27.14%

20-Year Fixed Mortgage Interest Rate (Annual %)

6.37

11.79

-45.97%

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

Last update for Panama: October 5, 2026

Last update for Monterrey: October 4, 2026

Monthly budget structure

Share of the monthly basket for one person, rent included.

Accommodation & Living

Panama

$697 44%

Monterrey

$670 41.4% 3.8% $26

Groceries & Markets

Panama

$302 19.1%

Monterrey

$312 19.3% 3.4% $10

Monthly Utilities & Internet

Panama

$194 12.2%

Monterrey

$174 10.7% 10.4% $20

Eating Out

Panama

$164 10.3%

Monterrey

$224 13.8% 36.7% $60

Clothing & Footwear

Panama

$129 8.2%

Monterrey

$157 9.7% 21.7% $28

Sport & Entertainment

Panama

$65 4.1%

Monterrey

$41 2.6% 35.9% $23

Getting Around

Panama

$34 2.2%

Monterrey

$42 2.6% 22.9% $7.8

Good to know

🇵🇦 Panama

🇲🇽 Monterrey

🕒 Local time

00:45 12:45 AM

23:45 11:45 PM

1 h behind Panama

🌤 Weather

👥 Population

4,098,587

1,142,994

💱 Currency

Panamanian Balboa PAB B/.

Mexican Peso MXN $

📈 Exchange rate

1 PAB = 1 USD

1 PAB = 0.892 EUR

100 MXN = 5.45 USD

100 MXN = 4.86 EUR

Exchange rates and currency converter

MXN, USD, EUR to PAB – Panamanian Balboa Converter

🇺🇸 United States Dollar ($)

🇵🇦 Panamanian Balboa (B/.)

Panamanian Balboa exchange rates as of October 10, 2026: 1 USD = 1 PAB (1 PAB = 1 USD). 1 EUR = 1.12 PAB (1 PAB = 0.892 EUR).

Mexican Peso exchange rates as of October 10, 2026: 1 USD = 18.36 MXN (100 MXN = 5.45 USD). 1 EUR = 20.59 MXN (100 MXN = 4.86 EUR).

USD to PAB in detail →

On the map

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Between locations

Panama Monterrey 2,880 km ≈ 4 h nonstop flight

From you

Panama
Monterrey

Distances are measured in a straight line. Your location is detected approximately.

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 other spots: cost of living compared

Cost of Living Comparison Between Panama and Monterrey

MXN, USD, EUR to PAB – Panamanian Balboa Converter

City Median Internet Speeds Comparison (Updated April 2026)

Panama

Monterrey

Panama

Monterrey

Panama vs other spots: cost of living compared

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