Last update: Oct 2026

Cost of Living Comparison Between Puerto Montt and Panama City

For one person, living is cheaper in Puerto Montt: $453 a month against $1,855 in Panama City, rent and utilities included – about $16,800 less a year. Rent and utilities account for most of the difference.

50

Cost of Living Index in Puerto Montt
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Puerto Montt Living Index
90

Cost of Living Index in Panama City
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Panama City Living Index

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Puerto Montt

🇨🇱 Chile

$453

/mo nomad

Panama City

🇵🇦 Panama

$1,855

/mo nomad

Monthly Cost of Living

How much you'll spend in Puerto Montt and in Panama City

Real prices from locals and on-the-ground checks – rent, groceries, transit and the daily extras. Here's what a month in Puerto Montt and in Panama City actually costs, broken down by who's living it.

A single person spends $453 per month in Puerto Montt vs $1,855 in Panama City, rent included.

Puerto Montt $453
Panama City $1,855

A couple spends around $758 per month in Puerto Montt vs $2,804 in Panama City, rent included.

Puerto Montt $758
Panama City $2,804

A family of three spends $1,064 per month in Puerto Montt vs $3,753 in Panama City, rent included.

Puerto Montt $1,064
Panama City $3,753

Puerto Montt is about 76% cheaper than Panama City, and outside of rent the biggest gap is in clothing.

Puerto Montt sits 66% below the global median, while Panama City is 37% above – they fall on opposite sides of the world average.

Meal at Budget Restaurant

$8.01 CLP 7,886

$11.63 PAB 11.63

-31.13%

Three-Course Dinner for Two, Mid-Range

$36.02 CLP 35.5K

$47.92 PAB 47.92

-24.83%

Fast Food Meal (McDonalds, etc)

$7.23 CLP 7,112

$7.96 PAB 7.96

-9.17%

Cappuccino

$2.74 CLP 2,697

$4.22 PAB 4.22

-35.07%

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

$0.96 CLP 944

$2.01 PAB 2.01

-52.24%

Water (0.33 liter bottle)

$0.93 CLP 918

$1.56 PAB 1.56

-40.38%

Local Beer (0.5 liter draught)

$3.39 PAB 3.39

Imported Beer (0.33 liter bottle)

$3.94 PAB 3.94

Milk (1 liter)

$1.14 CLP 1,121

$1.85 PAB 1.85

-38.38%

White Bread (500g)

$2.49 CLP 2,456

$2.56 PAB 2.56

-2.73%

Rice (white) (1kg)

$1.47 CLP 1,448

$3.48 PAB 3.48

-57.76%

Eggs

$3.21 CLP 3,162

$2.69 PAB 2.69

19.33%

Local Cheese (1kg)

$11.41 CLP 11.2K

$12.57 PAB 12.57

-9.23%

Chicken Fillets (1kg)

$5.69 CLP 5,598

$6.83 PAB 6.83

-16.69%

Beef Round Steak (1kg)

$6.85 CLP 6,744

$10.58 PAB 10.58

-35.26%

Apples (1kg)

$1.04 CLP 1,021

$4.18 PAB 4.18

-75.12%

Banana (1kg)

$1.35 CLP 1,326

$1.83 PAB 1.83

-26.23%

Oranges (1kg)

$2.70 CLP 2,659

$4.20 PAB 4.20

-35.71%

Tomato (1kg)

$1.82 CLP 1,788

$4.03 PAB 4.03

-54.84%

Potato (1kg)

$3.48 PAB 3.48

Onion (1kg)

$1.56 CLP 1,536

$4.22 PAB 4.22

-63.03%

Lettuce (1 head)

$1.32 CLP 1,296

$2.41 PAB 2.41

-45.23%

Water (1.5 liter bottle)

$1.46 CLP 1,438

$1.69 PAB 1.69

-13.61%

Cigarettes 20 Pack (Marlboro, Camel)

$4.55 CLP 4,482

$6.14 PAB 6.14

-25.90%

Wine (Bottle)

$5.68 CLP 5,588

$11.30 PAB 11.30

-49.73%

Local Beer (0.5 liter bottle)

$1.39 CLP 1,368

$1.42 PAB 1.42

-2.11%

Imported Beer (0.33 liter bottle)

$1.54 CLP 1,519

$2.73 PAB 2.73

-43.59%

One-way Ticket (Public Transport)

$0.89 CLP 875

$0.33 PAB 0.33

169.70%

Public Transport Monthly Pass (Regular Price)

$21.23 PAB 21.23

Taxi Start (Normal Tariff)

$2.52 PAB 2.52

Taxi (Normal Tariff) (1km)

$1.86 PAB 1.86

Taxi 1hour Waiting (Normal Tariff)

$21.78 PAB 21.78

Gasoline (1 liter)

$1.30 CLP 1,282

$1.25 PAB 1.25

4.00%

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

$21.2K PAB 21.2K

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

$21.0K PAB 21.0K

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

$62.0 CLP 61.0K

$130 PAB 130

-52.28%

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

$11.06 CLP 10.9K

$28.13 PAB 28.13

-60.68%

Internet (50+ Mbps, Unlimited Data)

$31.03 CLP 30.5K

$48.21 PAB 48.21

-35.64%

Gym Membership (Monthly)

$45.78 PAB 45.78

Tennis Court (1 Hour on Weekend)

$34.92 PAB 34.92

Cinema Ticket

$8.67 PAB 8.67

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

$145 CLP 142.5K

$544 PAB 544

-73.41%

International Primary School, 1 Child (Yearly)

$9,697 PAB 9,697

Jeans (Levis 501 Or Similar)

$66.8 PAB 66.8

Summer Dress (H&M, Zara, etc)

$49.14 PAB 49.14

Sport Shoes (Adidas, Nike)

$93.9 PAB 93.9

Men's Leather Business Shoes

$112 PAB 112

1-bedroom Apartment, City Center (Monthly)

$502 CLP 494.6K

$1,257 PAB 1,257

-60.03%

1-bedroom Apartment, Outside City Center (Monthly)

$875 PAB 875

3-bedroom Apartment, City Center (Monthly)

$2,155 PAB 2,155

3-bedroom Apartment, Outside City Center (Monthly)

$1,564 PAB 1,564

Buy Apartment in City Center (m2)

$3,122 PAB 3,122

Buy Apartment Outside City Center (m2)

$1,709 PAB 1,709

Average Monthly Net Salary (After Tax)

$916 PAB 916

20-Year Fixed Mortgage Interest Rate (Annual %)

6.39

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

Last update for Puerto Montt: October 13, 2026

Last update for Panama City: October 10, 2026

Monthly budget structure

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

Groceries & Markets

Puerto Montt

$219 * 48.3%

Panama City

$325 17.5% 48.6% $106

Eating Out

Puerto Montt

$126 * 27.9%

Panama City

$207 11.1% 63.7% $80

Monthly Utilities & Internet

Puerto Montt

$104 23%

Panama City

$206 11.1% 98.2% $102

Getting Around

Puerto Montt

$3.6 * 0.8%

Panama City

$34 1.9% 869% $31

Sport & Entertainment

Puerto Montt

- * 0%

Panama City

$63 3.4%

Clothing & Footwear

Puerto Montt

- * 0%

Panama City

$145 7.8%

Accommodation & Living

Puerto Montt

- * 0%

Panama City

$875 47.2%

Categories marked with * are only partly priced – their share counts the items that do have prices.

Cost Breakdown

A central one-bedroom costs $502 in Puerto Montt versus $1,257 in Panama City. Rent is usually the largest line item in a monthly budget, so the gap here sets the tone for the overall comparison.

A mid-range dinner for two costs $36.00 in Puerto Montt versus $48.00 in Panama City. Monthly groceries follow the same trend: $219 vs $325 – making Puerto Montt the more affordable choice for daily food spending.

Good to know

🇨🇱 Puerto Montt

🇵🇦 Panama City

🕒 Local time

23:09 11:09 PM

21:09 9:09 PM

2 h behind Puerto Montt

🌤 Weather

👥 Population

169,736

1,086,990 Capital

💱 Currency

Chilean Peso CLP $

Panamanian Balboa PAB B/.

📈 Exchange rate

10,000 CLP = 10.16 USD

10,000 CLP = 9.04 EUR

1 PAB = 1 USD

1 PAB = 0.89 EUR

Exchange rates and currency converter

PAB, USD, EUR to CLP – Chilean Peso Converter

🇺🇸 United States Dollar ($)

🇨🇱 Chilean Peso ($)

Chilean Peso exchange rates as of October 19, 2026: 1 USD = 984 CLP (1,000 CLP = 1.02 USD). 1 EUR = 1,107 CLP (10,000 CLP = 9.04 EUR).

Panamanian Balboa exchange rates as of October 19, 2026: 1 USD = 1 PAB (1 PAB = 1 USD). 1 EUR = 1.12 PAB (1 PAB = 0.89 EUR).

USD to CLP in detail →

On the map

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Highest

Between locations

Puerto Montt Panama City 5,650 km ≈ 8 h nonstop flight

From you

Puerto Montt
Panama City

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

Puerto Montt vs Panama City: Cost of Living - Frequently Asked Questions

Yes – Panama City is pricier by about 310%, and outside of rent the gap shows up most in clothing.

For a comfortable life, plan on about $679 per month in Puerto Montt and $2,783 in Panama City. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Rent is clearly cheaper in Puerto Montt, especially for central apartments. Housing is actually the single biggest factor behind the overall cost gap between these two cities.

Monthly expenses with rent come to $453 in Puerto Montt and $1,855 in Panama City. That's a gap of about 310%.

Kindergarten costs $145 per month in Puerto Montt and $544 in Panama City. For families with young kids, this one expense can tip the scales when choosing between the two cities.

A $1,000 monthly budget goes further in Puerto Montt, where all-in costs run around $453, than in Panama City at $1,855. In Puerto Montt it covers expenses comfortably, while in Panama City it requires careful planning or may not stretch far enough.

Families tend to lean toward Puerto Montt – lower housing and cheaper childcare make a real difference, especially on a single income or when paying for private education.

If budget matters most, go with Puerto Montt. If higher salaries, better infrastructure, or specific career opportunities are the priority, Panama City makes more sense. Both are solid long-term options with distinct trade-offs.