Last update: Oct 2026

Cost of Living Comparison Between Victoria and Panama City

For one person, living is cheaper in Panama City: $1,837 a month against $2,574 in Victoria, rent and utilities included – about $8,800 less a year. Rent and utilities account for most of the difference.

123

Cost of Living Index in Victoria
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Victoria Living Index
90

Cost of Living Index in Panama City
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Panama City Living Index

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Victoria

🇨🇦 Canada

$2,574

/mo nomad

Panama City

🇵🇦 Panama

$1,837

/mo nomad

Monthly Cost of Living

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

A single person spends $2,574 per month in Victoria vs $1,837 in Panama City, rent included.

Victoria $2,574
Panama City $1,837

A couple spends around $3,856 per month in Victoria vs $2,825 in Panama City, rent included.

Victoria $3,856
Panama City $2,825

A family of three spends $5,138 per month in Victoria vs $3,812 in Panama City, rent included.

Victoria $5,138
Panama City $3,812

Victoria costs about 40% more than Panama City, and outside of rent the biggest gap is in groceries.

Both Victoria and Panama City sit above the global median – Victoria by 92%, Panama City by 37%.

Meal at Budget Restaurant

$18.98 CA$27.06

$11.34 PAB 11.34

67.37%

Three-Course Dinner for Two, Mid-Range

$70.0 CA$99.7

$47.85 PAB 47.85

46.23%

Fast Food Meal (McDonalds, etc)

$10.84 CA$15.46

$8.07 PAB 8.07

34.32%

Cappuccino

$4.21 CA$6.00

$4.02 PAB 4.02

4.73%

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

$2.21 CA$3.15

$1.94 PAB 1.94

13.92%

Water (0.33 liter bottle)

$1.80 CA$2.57

$1.62 PAB 1.62

11.11%

Local Beer (0.5 liter draught)

$5.69 CA$8.11

$3.26 PAB 3.26

74.54%

Imported Beer (0.33 liter bottle)

$6.47 CA$9.23

$3.99 PAB 3.99

62.16%

Milk (1 liter)

$2.65 CA$3.78

$1.83 PAB 1.83

44.81%

White Bread (500g)

$2.89 CA$4.12

$2.57 PAB 2.57

12.45%

Rice (white) (1kg)

$3.96 CA$5.65

$3.33 PAB 3.33

18.92%

Eggs

$4.04 CA$5.76

$2.69 PAB 2.69

50.19%

Local Cheese (1kg)

$26.77 CA$38.16

$12.33 PAB 12.33

117.11%

Chicken Fillets (1kg)

$12.55 CA$17.89

$6.69 PAB 6.69

87.59%

Beef Round Steak (1kg)

$14.51 CA$20.68

$10.40 PAB 10.40

39.52%

Apples (1kg)

$3.99 CA$5.69

$4.16 PAB 4.16

-4.09%

Banana (1kg)

$1.43 CA$2.04

$1.84 PAB 1.84

-22.28%

Oranges (1kg)

$3.82 CA$5.45

$4.18 PAB 4.18

-8.61%

Tomato (1kg)

$4.13 CA$5.89

$4.08 PAB 4.08

1.23%

Potato (1kg)

$3.54 CA$5.04

$3.50 PAB 3.50

1.14%

Onion (1kg)

$2.93 CA$4.18

$4.37 PAB 4.37

-32.95%

Lettuce (1 head)

$3.18 CA$4.53

$2.34 PAB 2.34

35.90%

Water (1.5 liter bottle)

$2.55 CA$3.63

$1.75 PAB 1.75

45.71%

Cigarettes 20 Pack (Marlboro, Camel)

$15.02 CA$21.41

$6.06 PAB 6.06

147.85%

Wine (Bottle)

$17.86 CA$25.46

$11.72 PAB 11.72

52.39%

Local Beer (0.5 liter bottle)

$4.00 CA$5.70

$1.37 PAB 1.37

191.97%

Imported Beer (0.33 liter bottle)

$3.43 CA$4.89

$2.84 PAB 2.84

20.77%

One-way Ticket (Public Transport)

$2.04 CA$2.90

$0.36 PAB 0.36

466.67%

Public Transport Monthly Pass (Regular Price)

$58.5 CA$83.4

$20.96 PAB 20.96

179.25%

Taxi Start (Normal Tariff)

$2.67 CA$3.81

$2.52 PAB 2.52

5.95%

Taxi (Normal Tariff) (1km)

$1.52 CA$2.17

$1.79 PAB 1.79

-15.08%

Taxi 1hour Waiting (Normal Tariff)

$33.48 CA$47.72

$22.01 PAB 22.01

52.11%

Gasoline (1 liter)

$1.35 CA$1.93

$1.25 PAB 1.25

8.00%

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

$27.7K CA$39.5K

$21.5K PAB 21.5K

28.83%

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

$18.5K CA$26.3K

$21.2K PAB 21.2K

-12.90%

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

$105 CA$150

$131 PAB 131

-19.58%

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

$44.49 CA$63.4

$27.68 PAB 27.68

60.73%

Internet (50+ Mbps, Unlimited Data)

$61.5 CA$87.6

$48.59 PAB 48.59

26.51%

Gym Membership (Monthly)

$42.45 CA$60.5

$46.11 PAB 46.11

-7.94%

Tennis Court (1 Hour on Weekend)

$17.27 CA$24.62

$35.01 PAB 35.01

-50.67%

Cinema Ticket

$10.68 CA$15.22

$8.73 PAB 8.73

22.34%

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

$878 CA$1,251

$551 PAB 551

59.45%

International Primary School, 1 Child (Yearly)

$23.2K CA$33.1K

$9,560 PAB 9,560

142.63%

Jeans (Levis 501 Or Similar)

$53.2 CA$75.8

$67.6 PAB 67.6

-21.33%

Summer Dress (H&M, Zara, etc)

$44.19 CA$63.0

$48.03 PAB 48.03

-8.00%

Sport Shoes (Adidas, Nike)

$89.8 CA$128

$94.9 PAB 94.9

-5.42%

Men's Leather Business Shoes

$109 CA$155

$113 PAB 113

-3.44%

1-bedroom Apartment, City Center (Monthly)

$1,522 CA$2,170

$1,238 PAB 1,238

22.97%

1-bedroom Apartment, Outside City Center (Monthly)

$1,326 CA$1,890

$873 PAB 873

51.86%

3-bedroom Apartment, City Center (Monthly)

$2,683 CA$3,825

$2,197 PAB 2,197

22.14%

3-bedroom Apartment, Outside City Center (Monthly)

$2,261 CA$3,222

$1,538 PAB 1,538

46.97%

Buy Apartment in City Center (m2)

$5,368 CA$7,651

$3,116 PAB 3,116

72.28%

Buy Apartment Outside City Center (m2)

$4,469 CA$6,370

$1,725 PAB 1,725

159.11%

Average Monthly Net Salary (After Tax)

$3,202 CA$4,564

$934 PAB 934

242.63%

20-Year Fixed Mortgage Interest Rate (Annual %)

4.31

6.39

-32.55%

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

Last update for Victoria: October 5, 2026

Last update for Panama City: October 3, 2026

Monthly budget structure

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

Accommodation & Living

Victoria

$1.3K 51.7%

Panama City

$873 47.2% 34.2% $453

Groceries & Markets

Victoria

$461 18%

Panama City

$324 17.5% 29.6% $137

Eating Out

Victoria

$292 11.4%

Panama City

$202 10.9% 31% $91

Monthly Utilities & Internet

Victoria

$211 8.2%

Panama City

$207 11.2% 1.9% $4

Clothing & Footwear

Victoria

$133 5.2%

Panama City

$146 7.9% 9.2% $12

Getting Around

Victoria

$77 3%

Panama City

$34 1.8% 56% $43

Sport & Entertainment

Victoria

$64 2.5%

Panama City

$64 3.4% 0.4% $0.2

Cost Breakdown

A central one-bedroom costs $1,522 in Victoria versus $1,238 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.

Salaries run about 243% higher in Victoria, which partly offsets the higher cost of living there. Purchasing power depends on which expenses matter most to you.

A mid-range dinner for two costs $70.0 in Victoria versus $48.00 in Panama City. Monthly groceries follow the same trend: $461 vs $324 – making Panama City the more affordable choice for daily food spending.

Good to know

🇨🇦 Victoria

🇵🇦 Panama City

🕒 Local time

01:52 1:52 AM

03:52 3:52 AM

2 h ahead of Victoria

🌤 Weather

👥 Population

85,792

1,086,990 Capital

💱 Currency

Canadian Dollar CAD $

Panamanian Balboa PAB B/.

📈 Exchange rate

1 CAD = 0.702 USD

1 CAD = 0.626 EUR

1 PAB = 1 USD

1 PAB = 0.892 EUR

Exchange rates and currency converter

PAB, USD, EUR to CAD – Canadian Dollar Converter

🇺🇸 United States Dollar ($)

🇨🇦 Canadian Dollar ($)

Canadian Dollar exchange rates as of October 10, 2026: 1 USD = 1.43 CAD (1 CAD = 0.702 USD). 1 EUR = 1.6 CAD (1 CAD = 0.626 EUR).

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).

USD to CAD in detail →

On the map

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Between locations

Victoria Panama City 5,990 km ≈ 8 h nonstop flight

From you

Victoria
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

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

Yes – Victoria is pricier by about 40%, and outside of rent the gap shows up most in groceries.

For a comfortable life, plan on about $3,862 per month in Victoria and $2,756 in Panama City. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

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

Groceries cost about 42% more in Victoria, though it depends on what you buy. Local produce may be comparable; imported and premium items show the biggest price gap.

A mid-range dinner for two costs $70.0 in Victoria and $48.00 in Panama City. That's a good indicator of the overall restaurant and café pricing gap between the two cities.

A $2,500 monthly budget goes further in Panama City, where all-in costs run around $1,837, than in Victoria at $2,574. In Panama City it covers expenses comfortably, while in Victoria it requires careful planning or may not stretch far enough.

Families tend to lean toward Panama City – 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 Panama City. If higher salaries, better infrastructure, or specific career opportunities are the priority, Victoria makes more sense. Both are solid long-term options with distinct trade-offs.