Last update: Oct 2026 Panama ⭐ Capital 1.1M

Cost of Living in Panama City

Name: Panama City
Address: Panama City, PA

For one person, living costs in Panama City are estimated at $1,855 a month, including rent and utilities – 17% above the national average. Rent and utilities take more than half of the total.

Compare Destinations Jump to prices

Panama City

🇵🇦 Panama

Monthly Cost of Living

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

A single person spends around $1,855 per month with rent, or $850 for everyday expenses alone.

$1,855 /mo

A couple spends around $2,804 per month with rent, or $1,455 for everyday expenses alone.

$2,804 /mo

A family of three spends around $3,753 per month with rent, or $2,060 without housing.

$3,753 /mo

Meal at Budget Restaurant

$11.63 PAB 11.63

$5.06 PAB 5.06

$20.23 PAB 20.23

Three-Course Dinner for Two, Mid-Range

$47.92 PAB 47.92

$40.36 PAB 40.36

$85.8 PAB 85.8

Fast Food Meal (McDonalds, etc)

$7.96 PAB 7.96

$6.97 PAB 6.97

$8.96 PAB 8.96

Cappuccino

$4.22 PAB 4.22

$2.05 PAB 2.05

$5.34 PAB 5.34

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

$2.01 PAB 2.01

$1.53 PAB 1.53

$2.54 PAB 2.54

Water (0.33 liter bottle)

$1.56 PAB 1.56

$0.98 PAB 0.98

$1.95 PAB 1.95

Local Beer (0.5 liter draught)

$3.39 PAB 3.39

$2.05 PAB 2.05

$6.16 PAB 6.16

Imported Beer (0.33 liter bottle)

$3.94 PAB 3.94

$2.96 PAB 2.96

$5.92 PAB 5.92

Milk (1 liter)

$1.85 PAB 1.85

$1.49 PAB 1.49

$1.98 PAB 1.98

White Bread (500g)

$2.56 PAB 2.56

$1.27 PAB 1.27

$4.07 PAB 4.07

Rice (white) (1kg)

$3.48 PAB 3.48

$1.82 PAB 1.82

$6.70 PAB 6.70

Eggs

$2.69 PAB 2.69

$1.76 PAB 1.76

$4.11 PAB 4.11

Local Cheese (1kg)

$12.57 PAB 12.57

$4.06 PAB 4.06

$17.70 PAB 17.70

Chicken Fillets (1kg)

$6.83 PAB 6.83

$3.03 PAB 3.03

$9.09 PAB 9.09

Beef Round Steak (1kg)

$10.58 PAB 10.58

$6.02 PAB 6.02

$16.05 PAB 16.05

Apples (1kg)

$4.18 PAB 4.18

$2.03 PAB 2.03

$6.09 PAB 6.09

Banana (1kg)

$1.83 PAB 1.83

$1.01 PAB 1.01

$3.02 PAB 3.02

Oranges (1kg)

$4.20 PAB 4.20

$0.98 PAB 0.98

$5.96 PAB 5.96

Tomato (1kg)

$4.03 PAB 4.03

$1.72 PAB 1.72

$5.91 PAB 5.91

Potato (1kg)

$3.48 PAB 3.48

$1.66 PAB 1.66

$5.10 PAB 5.10

Onion (1kg)

$4.22 PAB 4.22

$2.74 PAB 2.74

$4.89 PAB 4.89

Lettuce (1 head)

$2.41 PAB 2.41

$1.21 PAB 1.21

$3.03 PAB 3.03

Water (1.5 liter bottle)

$1.69 PAB 1.69

$0.97 PAB 0.97

$2.43 PAB 2.43

Cigarettes 20 Pack (Marlboro, Camel)

$6.14 PAB 6.14

$5.63 PAB 5.63

$6.65 PAB 6.65

Wine (Bottle)

$11.30 PAB 11.30

$5.50 PAB 5.50

$16.71 PAB 16.71

Local Beer (0.5 liter bottle)

$1.42 PAB 1.42

$0.92 PAB 0.92

$2.04 PAB 2.04

Imported Beer (0.33 liter bottle)

$2.73 PAB 2.73

$0.98 PAB 0.98

$4.91 PAB 4.91

One-way Ticket (Public Transport)

$0.33 PAB 0.33

$0.48 PAB 0.48

Public Transport Monthly Pass (Regular Price)

$21.23 PAB 21.23

$21.98 PAB 21.98

Taxi Start (Normal Tariff)

$2.52 PAB 2.52

$2.42 PAB 2.42

$3.02 PAB 3.02

Taxi (Normal Tariff) (1km)

$1.86 PAB 1.86

$3.09 PAB 3.09

Taxi 1hour Waiting (Normal Tariff)

$21.78 PAB 21.78

Gasoline (1 liter)

$1.25 PAB 1.25

$0.90 PAB 0.90

$1.42 PAB 1.42

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

$21.2K PAB 21.2K

$21.1K PAB 21.1K

$21.2K PAB 21.2K

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

$21.0K PAB 21.0K

$19.6K PAB 19.6K

$21.9K PAB 21.9K

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

$130 PAB 130

$91.5 PAB 91.5

$198 PAB 198

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

$28.13 PAB 28.13

$15.98 PAB 15.98

$49.93 PAB 49.93

Internet (50+ Mbps, Unlimited Data)

$48.21 PAB 48.21

$39.59 PAB 39.59

$59.4 PAB 59.4

Gym Membership (Monthly)

$45.78 PAB 45.78

$29.60 PAB 29.60

$69.1 PAB 69.1

Tennis Court (1 Hour on Weekend)

$34.92 PAB 34.92

$15.12 PAB 15.12

$50.4 PAB 50.4

Cinema Ticket

$8.67 PAB 8.67

$7.14 PAB 7.14

$16.31 PAB 16.31

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

$544 PAB 544

$501 PAB 501

$751 PAB 751

International Primary School, 1 Child (Yearly)

$9,697 PAB 9,697

$6,890 PAB 6,890

$20.1K PAB 20.1K

Jeans (Levis 501 Or Similar)

$66.8 PAB 66.8

$40.05 PAB 40.05

$80.1 PAB 80.1

Summer Dress (H&M, Zara, etc)

$49.14 PAB 49.14

$30.44 PAB 30.44

$60.9 PAB 60.9

Sport Shoes (Adidas, Nike)

$93.9 PAB 93.9

$69.4 PAB 69.4

$99.2 PAB 99.2

Men's Leather Business Shoes

$112 PAB 112

$69.9 PAB 69.9

$150 PAB 150

1-bedroom Apartment, City Center (Monthly)

$1,257 PAB 1,257

$896 PAB 896

$1,862 PAB 1,862

1-bedroom Apartment, Outside City Center (Monthly)

$875 PAB 875

$601 PAB 601

$1,601 PAB 1,601

3-bedroom Apartment, City Center (Monthly)

$2,155 PAB 2,155

$1,384 PAB 1,384

$3,283 PAB 3,283

3-bedroom Apartment, Outside City Center (Monthly)

$1,564 PAB 1,564

$1,015 PAB 1,015

$3,518 PAB 3,518

Buy Apartment in City Center (m2)

$3,122 PAB 3,122

$2,631 PAB 2,631

$3,315 PAB 3,315

Buy Apartment Outside City Center (m2)

$1,709 PAB 1,709

$1,537 PAB 1,537

$1,903 PAB 1,903

Average Monthly Net Salary (After Tax)

$916 PAB 916

20-Year Fixed Mortgage Interest Rate (Annual %)

6.39

6.75

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

Last update: October 10, 2026

Monthly budget structure

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

Panama City $1,855

Accommodation & Living

$875 47.2%

Groceries & Markets

$325 17.5%

Eating Out

$207 11.1%

Monthly Utilities & Internet

$206 11.1%

Clothing & Footwear

$145 7.8%

Sport & Entertainment

$63 3.4%

Getting Around

$34 1.9%

Cost Breakdown

A one-bedroom apartment in the city center costs around $1,257, dropping to $875 outside central areas. Housing accounts for roughly 137% of the average salary ($916) – well above the 30% international benchmark.

The average net salary is $916 – below monthly costs of $1,855. Most locals rely on shared housing or dual incomes. Remote workers earning abroad will find stronger purchasing power.

Groceries cost around $325 per month for one person. A mid-range dinner for two is priced at $48.00.

A monthly public transport pass costs about $21.23.

Cost Highlights

Local beer is cheaper than 98% of cities in North America

Public transport monthly pass is cheaper than 95% of cities in North America

Average monthly net salary is lower than 92% of cities in North America

Good to know

🕒 Local time

16:45 4:45 PM

🌤 Weather

👥 Population

1,086,990 Capital

💱 Currency

Panamanian Balboa PAB B/.

📈 Exchange rate

1 PAB = 1 USD

1 PAB = 0.89 EUR

Exchange rates and currency converter

On the map

Lowest

Highest

From you

Panama City

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

Panama City Median Internet Speeds (Updated April 2026)

Mobile

Mbps

Fixed Broadband

Mbps

The chart highlights the Precision Threshold for mobile and fixed broadband internet speeds, updated quarterly.

Digital Nomad Cost of Living Index

City tags:

Cost of Living in Panama City - Frequently Asked Questions

Panama City, Panama offers a compelling mix of value and access for travelers, expats, and digital nomads. Cost of Living in Panama City, Panama tends to be more affordable than many North American or European cities, with flexible housing options and plentiful street-food and market choices. You’ll find diverse neighborhoods, from waterfront to hillside zones, each with its own vibe and price range. Compare rents, utilities, and internet bundles to identify real value, and plan around the local rainy season when some services run differently. Tip: build a monthly budget that leaves room for occasional splurges in a vibrant, walkable area.

Daily life in Panama City, Panama centers on flexibility and choices. A quick check of the Panama City, Panama living cost helps you target neighborhoods where rent, groceries, and transit align with your budget. Use a mix of online listings and short-term rentals to test Casco Viejo, El Cangrejo, and San Francisco before committing to a longer lease. For food, you’ll enjoy a spectrum from casual eateries to farmers' markets with fresh produce. Transit is affordable and convenient via rideshare, buses, and a growing metro line, so you can live further from the center and still stay connected. Co-working spaces and cafés make remote work easy, with everything from quiet pockets to community events. Tip: scout a few co-working spots to find one that fits your routine.

Quality of life in Panama City, Panama leans on pace, safety, and access to nature and culture. Build a budgeting framework around housing, utilities, and discretionary time – split expenses by essential vs. flexible categories and adjust with seasonality, such as wetter months when outdoor activities shift. Neighborhood fit matters: Casco Viejo is historic and lively, El Cangrejo offers central convenience, and modern high-rises cluster near the waterfront. Save by cooking at home from markets, using public transit, and sharing co-working spaces. Tip: reserve a buffer for occasional trips to nearby coastlines or mountain escapes to refresh your routine.

Panama City sits squarely in the middle of the price spectrum – not cheap, not expensive. Monthly costs with rent tend to hover around $1,855, which most working professionals can handle without feeling financially squeezed.

Housing in Panama City takes a heavy bite – about 137% of a typical income, which is above the 30% international benchmark. That squeezes the budget for everything else and is one of the main pain points for residents here.

In Panama City, $2,783 per month is what most people would call a good salary. It handles rent, food, and utilities with enough left for savings and the occasional splurge. Above that, you unlock better apartments and more freedom with spending.

A central one-bedroom apartment in Panama City runs about $1,257 per month. Move further out and that drops to around $875. Location makes a big difference here – and furnished places or short-term rentals will cost more on top of these figures.

Groceries in Panama City run about $325 monthly for one person – a moderate figure that matches the city's overall cost level. Local markets and supermarkets cover most needs, and food costs are manageable without strict budgeting.

Public transport in Panama City costs about $21.23 per month – usually unlimited rides on buses, metro, or trams within the main zone. Much cheaper than owning a car, and the practical choice for most residents.

$2,500 is below the $1,855 average in Panama City, so it's tight but not impossible. You'll need to keep rent low – sharing an apartment, cooking at home, and sticking to public transport are the main levers.

Quality of life in Panama City is solid. Standout factors include fast internet, vibrant nightlife, remote work facilities, backed by good public transport, varied dining and leisure, and well-maintained infrastructure. At about $1,855 monthly all-in, it suits mid-range budgets for a comfortable – if not luxurious – lifestyle.

Panama City is neither cheap nor expensive – it sits comfortably in the middle. Monthly costs with rent run about $1,855, a figure most working professionals can handle without major financial stress.

Panama City is doable for backpackers, though it takes more planning than cheaper destinations. Monthly costs average $1,855, so daily spending is moderate. Hostels, local food, and public transport keep things in check, but attractions and nightlife can push costs up.