Cost of Living in Panama - Updated Prices & Insights

Name: Panama
Address: PA

Monthly Cost of Living

A single person spends around $839 per month with rent on average in Panama.

A couple spends around $1,204 per month with rent on average in Panama.

A family of three spends around $1,568 per month with rent on average in Panama.

Meal at Budget Restaurant

$10.05 PAB 10.05

$5.02 PAB 5.02

$16.08 PAB 16.08

Three-Course Dinner for Two, Mid-Range

$49.64 PAB 49.64

$34.75 PAB 34.75

$99.3 PAB 99.3

Fast Food Meal (McDonalds, etc)

$7.37 PAB 7.37

$6.89 PAB 6.89

$8.51 PAB 8.51

Cappuccino

$3.53 PAB 3.53

$1.93 PAB 1.93

$4.95 PAB 4.95

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

$1.47 PAB 1.47

$0.99 PAB 0.99

$2.46 PAB 2.46

Water (0.33 liter bottle)

$1.24 PAB 1.24

$0.98 PAB 0.98

$1.96 PAB 1.96

Local Beer (0.5 liter draught)

$2.30 PAB 2.30

$1.54 PAB 1.54

$3.38 PAB 3.38

Imported Beer (0.33 liter bottle)

$3.69 PAB 3.69

$2.36 PAB 2.36

$4.92 PAB 4.92

Milk (1 liter)

$1.84 PAB 1.84

$1.48 PAB 1.48

$2.14 PAB 2.14

White Bread (500g)

$2.44 PAB 2.44

$1.26 PAB 1.26

$3.99 PAB 3.99

Rice (white) (1kg)

$2.36 PAB 2.36

$1.13 PAB 1.13

$4.12 PAB 4.12

Eggs

$2.69 PAB 2.69

$1.22 PAB 1.22

$3.48 PAB 3.48

Local Cheese (1kg)

$11.25 PAB 11.25

$3.98 PAB 3.98

$24.85 PAB 24.85

Chicken Fillets (1kg)

$7.32 PAB 7.32

$3.31 PAB 3.31

$11.24 PAB 11.24

Beef Round Steak (1kg)

$9.24 PAB 9.24

$3.98 PAB 3.98

$15.36 PAB 15.36

Apples (1kg)

$4.03 PAB 4.03

$1.52 PAB 1.52

$6.61 PAB 6.61

Banana (1kg)

$1.33 PAB 1.33

$0.89 PAB 0.89

$2.95 PAB 2.95

Oranges (1kg)

$2.89 PAB 2.89

$0.99 PAB 0.99

$4.38 PAB 4.38

Tomato (1kg)

$2.99 PAB 2.99

$1.00 PAB 1.00

$4.39 PAB 4.39

Potato (1kg)

$2.18 PAB 2.18

$1.02 PAB 1.02

$3.06 PAB 3.06

Onion (1kg)

$2.46 PAB 2.46

$1.02 PAB 1.02

$4.51 PAB 4.51

Lettuce (1 head)

$2.12 PAB 2.12

$1.01 PAB 1.01

$3.02 PAB 3.02

Water (1.5 liter bottle)

$1.63 PAB 1.63

$1.03 PAB 1.03

$2.56 PAB 2.56

Cigarettes 20 Pack (Marlboro, Camel)

$5.77 PAB 5.77

$4.87 PAB 4.87

$6.34 PAB 6.34

Wine (Bottle)

$9.98 PAB 9.98

$5.59 PAB 5.59

$14.97 PAB 14.97

Local Beer (0.5 liter bottle)

$1.21 PAB 1.21

$0.61 PAB 0.61

$2.23 PAB 2.23

Imported Beer (0.33 liter bottle)

$2.17 PAB 2.17

$1.16 PAB 1.16

$3.89 PAB 3.89

One-way Ticket (Public Transport)

$0.52 PAB 0.52

$0.36 PAB 0.36

$1.82 PAB 1.82

Public Transport Monthly Pass (Regular Price)

$25.39 PAB 25.39

$20.31 PAB 20.31

$30.46 PAB 30.46

Taxi Start (Normal Tariff)

$2.01 PAB 2.01

$1.51 PAB 1.51

$3.52 PAB 3.52

Taxi (Normal Tariff) (1km)

$2.06 PAB 2.06

$1.54 PAB 1.54

$5.15 PAB 5.15

Taxi 1hour Waiting (Normal Tariff)

$20.72 PAB 20.72

$13.81 PAB 13.81

$24.67 PAB 24.67

Gasoline (1 liter)

$0.91 PAB 0.91

$0.86 PAB 0.86

$1.16 PAB 1.16

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

$22.1K PAB 22.1K

$19.8K PAB 19.8K

$25.4K PAB 25.4K

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

$21.4K PAB 21.4K

$19.9K PAB 19.9K

$25.4K PAB 25.4K

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

$106 PAB 106

$72.5 PAB 72.5

$197 PAB 197

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

$28.57 PAB 28.57

$19.61 PAB 19.61

$34.32 PAB 34.32

Internet (50+ Mbps, Unlimited Data)

$48.55 PAB 48.55

$35.40 PAB 35.40

$66.8 PAB 66.8

Gym Membership (Monthly)

$50.5 PAB 50.5

$29.16 PAB 29.16

$101 PAB 101

Tennis Court (1 Hour on Weekend)

$33.26 PAB 33.26

$19.71 PAB 19.71

$49.27 PAB 49.27

Cinema Ticket

$6.96 PAB 6.96

$4.97 PAB 4.97

$14.92 PAB 14.92

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

$445 PAB 445

$299 PAB 299

$647 PAB 647

International Primary School, 1 Child (Yearly)

$11.3K PAB 11.3K

$5,895 PAB 5,895

$19.7K PAB 19.7K

Jeans (Levis 501 Or Similar)

$47.40 PAB 47.40

$25.22 PAB 25.22

$70.6 PAB 70.6

Summer Dress (H&M, Zara, etc)

$40.37 PAB 40.37

$24.53 PAB 24.53

$78.5 PAB 78.5

Sport Shoes (Adidas, Nike)

$83.5 PAB 83.5

$59.1 PAB 59.1

$98.5 PAB 98.5

Men's Leather Business Shoes

$116 PAB 116

$49.39 PAB 49.39

$198 PAB 198

1-bedroom Apartment, City Center (Monthly)

$933 PAB 933

$597 PAB 597

$1,493 PAB 1,493

1-bedroom Apartment, Outside City Center (Monthly)

$722 PAB 722

$464 PAB 464

$1,211 PAB 1,211

3-bedroom Apartment, City Center (Monthly)

$1,721 PAB 1,721

$1,184 PAB 1,184

$2,960 PAB 2,960

3-bedroom Apartment, Outside City Center (Monthly)

$1,333 PAB 1,333

$932 PAB 932

$1,962 PAB 1,962

Buy Apartment in City Center (m2)

$2,974 PAB 2,974

$2,086 PAB 2,086

$3,254 PAB 3,254

Buy Apartment Outside City Center (m2)

$1,701 PAB 1,701

$1,543 PAB 1,543

$1,910 PAB 1,910

Average Monthly Net Salary (After Tax)

$813 PAB 813

20-Year Fixed Mortgage Interest Rate (Annual %)

6.3

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

Last update: July 12, 2026

Cost Breakdown

The average net salary in Panama is $713 – below average monthly costs of $839. Many locals rely on dual incomes or shared housing. Remote workers earning abroad find strong purchasing power here.

Groceries average around $179 per month nationally. A mid-range dinner for two costs about $27.00.

Cost Highlights

Overall living costs ($839) is 37% below the global median of $1,336.

Average rent ($371) is 41% below the global median of $631.

Dining out ($27.00) is 44% below the global median of $48.00.

Public transport ($5.00) is 85% below the global median of $33.00.

By City in Panama

Lowest

Highest

Rank	City	Population	Living Index	Solo costs (no rent) / month	Solo costs (with rent) / month	Family of 3 costs (no rent) / month	Family of 3 costs (with rent) / month	Mobile download speed (Mbps)	Internet download speed (Mbps)
1	Aguadulce	-	45	$825	$893	$1,764	$1,971	35.29	264.33
2	Bocas del Toro	159228		$601	$1,407	$1,200	$2,588	62.64	154.53
3	Bocastown, Isla Colon	-		$627	$1,136	$1,545	$1,491	-	-
4	Boquete	7000	69	$759	$1,373	$1,578	$2,832	25.92	292.49
5	Bugaba	25000	34	$478	$656	$854	$1,389	20.75	279.79
6	Coronado	-	67	$741	$1,336	$1,553	$2,941	36.04	234.36
7	David	82907		$418	$977	$1,098	$1,327	300.27	299.06
8	El Valle de Anton	-	42	$619	$826	$1,524	$1,891	28.86	219.26
9	La Chorrera	258221		$26.38	$174	$65.7	$414	141.92	290.42
10	Las Cumbres	-						65.34	293.65
11	Las Tablas	-		$172	$847	$440	$660	51.15	263.52
12	Panama City	1086990	90	$881	$1,814	$2,105	$3,643	22.07	273.59
13	Puerto Armuelles	20455		$178	$513	$347	$872	142.99	304.52
14	San Miguelito	375409	44	$858	$893	$1,609	$1,995	188.57	267.47
15	Santiago	31065	70	$629	$1,413	$1,426	$2,650	198.43	292.36
16	Veracruz	18589						106.23	270.99
17	Vista Alegre	-						55.74	123.39

Panama 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

Cost of Living in Panama - Frequently Asked Questions

Panama tends to offer a favorable balance between affordability and modern conveniences, attracting travelers, expats, and digital nomads who want steady amenities without the price tag of major Western cities. Cost of Living in Panama varies by location, with urban cores like Panama City tending to feel pricier than rural towns or coastal communities. Outside the capital, you can find practical value in housing, groceries, and services, while maintaining easy access to beaches and nature. Seasonal tourist spikes can shift prices locally, but essential needs – healthcare, internet, and everyday services – remain accessible with thoughtful planning. Tip: start with a short-term stay to test neighborhoods before committing.

Panama living cost varies by region, but you generally have flexible options for housing, from modern apartments in city centers to calmer homes outside town. Start your search with agents and trusted listings, and aim for a place near transit, groceries, and a coworking hub. In cities, you’ll find a mix of casual eateries, markets, and international cafes; in more rural areas, groceries lean local and fresh. Transport ranges from buses and rideshares to taxis; many remote workers prefer coworking spaces with reliable internet. Tip: pilot a weekly routine to test noise, security, and access to amenities before signing.

Quality of life in Panama hinges on balancing climate, pace, and safety with your budget. Build a simple framework: fixed essentials (rent, utilities, internet), flexible extras (eating out, activities), and an emergency buffer. In the dry season you might lean into outdoor plans, while the rainy season can affect transport and outdoor routines; plan for occasional rain gear and indoor work spots. Neighborhood fit matters: choose a walkable center if you need frequent errands, or a quieter highland town if you want cooler air and slower rhythms. Tip: test a few locales for a season before committing long-term.

Panama is affordable by global standards, though costs vary a lot by region. Smaller cities and rural areas are genuinely cheap, while capitals and tourist spots are pricier – but still below international averages for similar quality.

Rent in Panama varies a lot – Panama City has the highest prices, and the gap between capital and provincial rents can be 50% or more. Choosing which city to live in is one of the biggest financial decisions you'll make.

Absolutely – in smaller cities across Panama, $800 covers rent and daily expenses with room to spare for eating out, entertainment, and saving. Even mid-sized cities work at this budget level.