Last update: Oct 2026

Cost of Living Comparison Between Santiago, Panama and Panama City

For one person, living is cheaper in Santiago: $1,442 a month against $1,932 in Panama City, rent and utilities included – about $5,900 less a year. Rent and utilities account for most of the difference.

69

Cost of Living Index in Santiago
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Santiago Living Index
94

Cost of Living Index in Panama City
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Panama City Living Index

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Santiago

🇵🇦 Panama

$1,442

/mo nomad

Panama City

🇵🇦 Panama

$1,932

/mo nomad

Monthly Cost of Living

How much you'll spend in Santiago 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 Santiago and in Panama City actually costs, broken down by who's living it.

A single person spends $1,442 per month in Santiago vs $1,932 in Panama City, rent included.

Santiago $1,442
Panama City $1,932

A couple spends around $2,119 per month in Santiago vs $2,887 in Panama City, rent included.

Santiago $2,119
Panama City $2,887

A family of three spends $2,796 per month in Santiago vs $3,841 in Panama City, rent included.

Santiago $2,796
Panama City $3,841

Santiago is about 25% cheaper than Panama City, and outside of rent the biggest gap is in eating out.

Both Santiago and Panama City sit above the global median – Santiago by 6%, Panama City by 42%.

Meal at Budget Restaurant

$4.44 PAB 4.44

$11.72 PAB 11.72

-62.12%

Three-Course Dinner for Two, Mid-Range

$29.53 PAB 29.53

$46.74 PAB 46.74

-36.82%

Fast Food Meal (McDonalds, etc)

$5.02 PAB 5.02

$7.98 PAB 7.98

-37.09%

Cappuccino

$4.04 PAB 4.04

$4.18 PAB 4.18

-3.35%

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

$0.73 PAB 0.73

$1.95 PAB 1.95

-62.56%

Water (0.33 liter bottle)

$0.77 PAB 0.77

$1.64 PAB 1.64

-53.05%

Local Beer (0.5 liter draught)

$0.97 PAB 0.97

$3.26 PAB 3.26

-70.25%

Imported Beer (0.33 liter bottle)

$2.03 PAB 2.03

$3.90 PAB 3.90

-47.95%

Milk (1 liter)

$1.84 PAB 1.84

$1.91 PAB 1.91

-3.66%

White Bread (500g)

$2.58 PAB 2.58

$2.54 PAB 2.54

1.57%

Rice (white) (1kg)

$3.38 PAB 3.38

$3.37 PAB 3.37

0.30%

Eggs

$2.68 PAB 2.68

$2.82 PAB 2.82

-4.96%

Local Cheese (1kg)

$12.25 PAB 12.25

$12.60 PAB 12.60

-2.78%

Chicken Fillets (1kg)

$6.88 PAB 6.88

$6.71 PAB 6.71

2.53%

Beef Round Steak (1kg)

$10.59 PAB 10.59

$10.53 PAB 10.53

0.57%

Apples (1kg)

$4.13 PAB 4.13

$4.04 PAB 4.04

2.23%

Banana (1kg)

$1.89 PAB 1.89

$1.94 PAB 1.94

-2.58%

Oranges (1kg)

$4.09 PAB 4.09

$4.25 PAB 4.25

-3.76%

Tomato (1kg)

$4.05 PAB 4.05

$4.18 PAB 4.18

-3.11%

Potato (1kg)

$3.36 PAB 3.36

$3.32 PAB 3.32

1.20%

Onion (1kg)

$4.19 PAB 4.19

$4.34 PAB 4.34

-3.46%

Lettuce (1 head)

$2.39 PAB 2.39

$2.40 PAB 2.40

-0.42%

Water (1.5 liter bottle)

$1.78 PAB 1.78

$1.71 PAB 1.71

4.09%

Cigarettes 20 Pack (Marlboro, Camel)

$6.17 PAB 6.17

$6.05 PAB 6.05

1.98%

Wine (Bottle)

$11.46 PAB 11.46

$11.38 PAB 11.38

0.70%

Local Beer (0.5 liter bottle)

$1.43 PAB 1.43

$1.36 PAB 1.36

5.15%

Imported Beer (0.33 liter bottle)

$2.83 PAB 2.83

$2.80 PAB 2.80

1.07%

One-way Ticket (Public Transport)

$0.34 PAB 0.34

Public Transport Monthly Pass (Regular Price)

$21.28 PAB 21.28

Taxi Start (Normal Tariff)

$2.48 PAB 2.48

$2.43 PAB 2.43

2.06%

Taxi (Normal Tariff) (1km)

$1.86 PAB 1.86

$1.85 PAB 1.85

0.54%

Taxi 1hour Waiting (Normal Tariff)

$22.36 PAB 22.36

$21.77 PAB 21.77

2.71%

Gasoline (1 liter)

$1.18 PAB 1.18

$1.20 PAB 1.20

-1.67%

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

$24.3K PAB 24.3K

$24.8K PAB 24.8K

-1.95%

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

$21.5K PAB 21.5K

$21.2K PAB 21.2K

1.54%

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

$120 PAB 120

$132 PAB 132

-9.47%

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

$14.90 PAB 14.90

$28.34 PAB 28.34

-47.42%

Internet (50+ Mbps, Unlimited Data)

$43.49 PAB 43.49

$48.88 PAB 48.88

-11.03%

Gym Membership (Monthly)

$43.02 PAB 43.02

Tennis Court (1 Hour on Weekend)

$34.94 PAB 34.94

Cinema Ticket

$8.26 PAB 8.26

$8.43 PAB 8.43

-2.02%

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

$533 PAB 533

$545 PAB 545

-2.27%

International Primary School, 1 Child (Yearly)

$9,758 PAB 9,758

$9,648 PAB 9,648

1.13%

Jeans (Levis 501 Or Similar)

$67.9 PAB 67.9

$65.8 PAB 65.8

3.15%

Summer Dress (H&M, Zara, etc)

$47.51 PAB 47.51

$47.25 PAB 47.25

0.55%

Sport Shoes (Adidas, Nike)

$93.7 PAB 93.7

$94.6 PAB 94.6

-0.92%

Men's Leather Business Shoes

$110 PAB 110

0.11%

1-bedroom Apartment, City Center (Monthly)

$451 PAB 451

$1,407 PAB 1,407

-67.91%

1-bedroom Apartment, Outside City Center (Monthly)

$652 PAB 652

$954 PAB 954

-31.57%

3-bedroom Apartment, City Center (Monthly)

$648 PAB 648

$2,272 PAB 2,272

-71.50%

3-bedroom Apartment, Outside City Center (Monthly)

$1,105 PAB 1,105

$1,662 PAB 1,662

-33.52%

Buy Apartment in City Center (m2)

$3,057 PAB 3,057

Buy Apartment Outside City Center (m2)

$1,729 PAB 1,729

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 Santiago: October 25, 2026

Last update for Panama City: October 27, 2026

Monthly budget structure

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

Accommodation & Living

Santiago

$652 45.3%

Panama City

$954 49.3% 46.1% $301

Groceries & Markets

Santiago

$325 22.5%

Panama City

$326 16.9% 0.3% $1

Monthly Utilities & Internet

Santiago

$178 12.4%

Panama City

$210 10.9% 17.6% $31

Clothing & Footwear

Santiago

$144 10%

Panama City

$143 7.4% 0.5% $0.7

Eating Out

Santiago

$114 7.9%

Panama City

$206 10.7% 80.9% $92

Sport & Entertainment

Santiago

$17 * 1.2%

Panama City

$60 3.1% 263% $43

Getting Around

Santiago

$12 * 0.8%

Panama City

$34 1.8% 192% $23

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

Cost Breakdown

A central one-bedroom costs $451 in Santiago versus $1,407 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 $30 in Santiago versus $47 in Panama City. Monthly groceries follow the same trend: $325 vs $326 – making Santiago the more affordable choice for daily food spending.

Good to know

🇵🇦 Santiago

🇵🇦 Panama City

🕒 Local time

05:09 5:09 AM

Same time as Santiago

🌤 Weather

👥 Population

31,065

1,086,990 Capital

💱 Currency

Panamanian Balboa PAB B/.

📈 Exchange rate

1 PAB = 1 USD

1 PAB = 0.899 EUR

1 PAB = 1 USD

1 PAB = 0.899 EUR

Exchange rates and currency converter

On the map

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Between locations

Santiago Panama City 190 km

From you

Santiago
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

Santiago vs Panama City: Cost of Living - Frequently Asked Questions

Yes – Panama City is pricier by about 34%, and outside of rent the gap shows up most in eating out.

For a comfortable life, plan on about $2,162 per month in Santiago and $2,899 in Panama City. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Rent is clearly cheaper in Santiago, especially for central apartments: a one-bedroom in the center costs $451 there versus $1,407 in Panama City.

A mid-range dinner for two costs $30 in Santiago and $47 in Panama City. That’s a good indicator of the overall restaurant and café pricing gap between the two cities.

Kindergarten costs $533 per month in Santiago and $545 in Panama City. For families with young kids, this one expense can tip the scales when choosing between the two cities.

It depends on your priorities. Panama City has an edge in some lifestyle areas, with costs from $1,442 in Santiago to $1,932 in Panama City. Climate, culture, job market, and personal taste all factor in.