Last update: Oct 2026 4.1M

Cost of Living in Panama

Name: Panama
Address: PA

Across Panama, living costs for one person average $1,590 a month, including rent and utilities, which take about half of the total. Other living expenses average about $25 a day.

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🇵🇦 Panama

Monthly Cost of Living

How much you'll spend in Panama

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

A single person spends around $1,590 per month with rent on average in Panama.

$1,590 /mo

A couple spends around $2,415 per month with rent on average in Panama.

$2,415 /mo

A family of three spends around $3,241 per month with rent on average in Panama.

$3,241 /mo

Meal at Budget Restaurant

$7.80 PAB 7.80

$4.87 PAB 4.87

$19.49 PAB 19.49

Three-Course Dinner for Two, Mid-Range

$44.15 PAB 44.15

$29.43 PAB 29.43

$73.6 PAB 73.6

Fast Food Meal (McDonalds, etc)

$7.87 PAB 7.87

$6.89 PAB 6.89

$9.84 PAB 9.84

Cappuccino

$3.86 PAB 3.86

$1.97 PAB 1.97

$5.12 PAB 5.12

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

$1.60 PAB 1.60

$0.99 PAB 0.99

$2.48 PAB 2.48

Water (0.33 liter bottle)

$1.40 PAB 1.40

$1.01 PAB 1.01

$2.03 PAB 2.03

Local Beer (0.5 liter draught)

$2.24 PAB 2.24

$0.99 PAB 0.99

$3.98 PAB 3.98

Imported Beer (0.33 liter bottle)

$3.96 PAB 3.96

$2.47 PAB 2.47

$5.94 PAB 5.94

Milk (1 liter)

$1.80 PAB 1.80

$1.48 PAB 1.48

$2.08 PAB 2.08

White Bread (500g)

$2.29 PAB 2.29

$1.42 PAB 1.42

$3.88 PAB 3.88

Rice (white) (1kg)

$2.91 PAB 2.91

$1.50 PAB 1.50

$6.42 PAB 6.42

Eggs

$2.49 PAB 2.49

$1.77 PAB 1.77

$3.54 PAB 3.54

Local Cheese (1kg)

$12.07 PAB 12.07

$3.94 PAB 3.94

$17.15 PAB 17.15

Chicken Fillets (1kg)

$7.22 PAB 7.22

$3.05 PAB 3.05

$9.14 PAB 9.14

Beef Round Steak (1kg)

$10.43 PAB 10.43

$6.12 PAB 6.12

$16.21 PAB 16.21

Apples (1kg)

$4.18 PAB 4.18

$2.17 PAB 2.17

$5.93 PAB 5.93

Banana (1kg)

$1.42 PAB 1.42

$0.97 PAB 0.97

$2.92 PAB 2.92

Oranges (1kg)

$3.61 PAB 3.61

$0.97 PAB 0.97

$5.90 PAB 5.90

Tomato (1kg)

$3.86 PAB 3.86

$1.80 PAB 1.80

$5.65 PAB 5.65

Potato (1kg)

$2.64 PAB 2.64

$1.54 PAB 1.54

$5.14 PAB 5.14

Onion (1kg)

$3.14 PAB 3.14

$1.36 PAB 1.36

$4.87 PAB 4.87

Lettuce (1 head)

$2.28 PAB 2.28

$1.21 PAB 1.21

$3.02 PAB 3.02

Water (1.5 liter bottle)

$1.57 PAB 1.57

$0.97 PAB 0.97

$2.34 PAB 2.34

Cigarettes 20 Pack (Marlboro, Camel)

$5.87 PAB 5.87

$4.89 PAB 4.89

$6.36 PAB 6.36

Wine (Bottle)

$10.15 PAB 10.15

$5.69 PAB 5.69

$15.23 PAB 15.23

Local Beer (0.5 liter bottle)

$1.34 PAB 1.34

$0.73 PAB 0.73

$1.95 PAB 1.95

Imported Beer (0.33 liter bottle)

$2.40 PAB 2.40

$1.01 PAB 1.01

$4.06 PAB 4.06

One-way Ticket (Public Transport)

$0.44 PAB 0.44

$0.34 PAB 0.34

$0.97 PAB 0.97

Public Transport Monthly Pass (Regular Price)

$21.23 PAB 21.23

$20.22 PAB 20.22

$25.28 PAB 25.28

Taxi Start (Normal Tariff)

$2.49 PAB 2.49

$1.49 PAB 1.49

$2.99 PAB 2.99

Taxi (Normal Tariff) (1km)

$1.78 PAB 1.78

$1.77 PAB 1.77

$2.95 PAB 2.95

Taxi 1hour Waiting (Normal Tariff)

$22.40 PAB 22.40

$25.45 PAB 25.45

Gasoline (1 liter)

$1.18 PAB 1.18

$0.89 PAB 0.89

$1.41 PAB 1.41

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

$21.6K PAB 21.6K

$25.9K PAB 25.9K

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

$22.4K PAB 22.4K

$21.0K PAB 21.0K

$24.0K PAB 24.0K

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

$118 PAB 118

$50.2 PAB 50.2

$201 PAB 201

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

$26.75 PAB 26.75

$15.81 PAB 15.81

$31.62 PAB 31.62

Internet (50+ Mbps, Unlimited Data)

$46.56 PAB 46.56

$34.49 PAB 34.49

$59.1 PAB 59.1

Gym Membership (Monthly)

$48.98 PAB 48.98

$28.49 PAB 28.49

$98.2 PAB 98.2

Tennis Court (1 Hour on Weekend)

$29.75 PAB 29.75

$9.95 PAB 9.95

$49.75 PAB 49.75

Cinema Ticket

$7.95 PAB 7.95

$6.46 PAB 6.46

$15.90 PAB 15.90

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

$553 PAB 553

$509 PAB 509

$763 PAB 763

International Primary School, 1 Child (Yearly)

$8,030 PAB 8,030

$6,037 PAB 6,037

$19.1K PAB 19.1K

Jeans (Levis 501 Or Similar)

$54.6 PAB 54.6

$25.06 PAB 25.06

$80.2 PAB 80.2

Summer Dress (H&M, Zara, etc)

$42.81 PAB 42.81

$25.41 PAB 25.41

$61.0 PAB 61.0

Sport Shoes (Adidas, Nike)

$89.0 PAB 89.0

$65.3 PAB 65.3

$100 PAB 100

Men's Leather Business Shoes

$105 PAB 105

$66.2 PAB 66.2

$153 PAB 153

1-bedroom Apartment, City Center (Monthly)

$939 PAB 939

$576 PAB 576

$1,502 PAB 1,502

1-bedroom Apartment, Outside City Center (Monthly)

$701 PAB 701

$449 PAB 449

$1,047 PAB 1,047

3-bedroom Apartment, City Center (Monthly)

$1,709 PAB 1,709

$1,006 PAB 1,006

$3,342 PAB 3,342

3-bedroom Apartment, Outside City Center (Monthly)

$1,258 PAB 1,258

$858 PAB 858

$1,962 PAB 1,962

Buy Apartment in City Center (m2)

$2,911 PAB 2,911

$1,994 PAB 1,994

$3,266 PAB 3,266

Buy Apartment Outside City Center (m2)

$1,643 PAB 1,643

$1,382 PAB 1,382

$1,866 PAB 1,866

Average Monthly Net Salary (After Tax)

$831 PAB 831

20-Year Fixed Mortgage Interest Rate (Annual %)

6.37

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

Last update: October 11, 2026

Monthly budget structure

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

Panama $1,590

Accommodation & Living

$701 44.1%

Groceries & Markets

$303 19.1%

Monthly Utilities & Internet

$191 12%

Eating Out

$163 10.3%

Clothing & Footwear

$131 8.3%

Sport & Entertainment

$65 4.1%

Getting Around

$34 2.2%

Cost Breakdown

The average net salary in Panama is $686 – below average monthly costs of $1,590. Many locals rely on dual incomes or shared housing. Remote workers earning abroad find strong purchasing power here.

Groceries average around $176 per month nationally. A mid-range dinner for two costs about $28.00.

Cost Highlights

Overall cost of living ($1,590) is 18% above the global median of $1,350.

Average rent ($336) is 48% below the global median of $652.

Dinner for two at a restaurant ($28.00) is 42% below the global median of $48.00.

Public transport ($3.00) is 91% below the global median of $34.00.

Good to know

🕒 Local time

12:05 12:05 PM

🌤 Weather

👥 Population

4,098,587

💱 Currency

Panamanian Balboa PAB B/.

📈 Exchange rate

1 PAB = 1 USD

1 PAB = 0.89 EUR

Exchange rates and currency converter

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	8501	47	$826	$958	$1,973	$2,104	35.29	264.33
2	Bocas del Toro	159228		$583	$1,493	$1,494	$2,673	62.64	154.53
3	Bocastown, Isla Colon	5380		$533	$1,205	$1,321	$2,915	-	-
4	Boquete	7000	71	$695	$1,462	$1,669	$3,011	25.92	292.49
5	Bugaba	25000	34					20.75	279.79
6	Coronado	1444	67	$612	$1,349	$1,539	$2,996	36.04	234.36
7	David	82907		$344	$882	$827	$1,011	300.27	299.06
8	El Valle de Anton	146	66	$778	$1,365	$1,878	$2,877	28.86	219.26
9	La Chorrera	258221		$30.12	$173	$65.6	$65.6	141.92	290.42
10	Las Cumbres	69102						65.34	293.65
11	Las Tablas	8939		$309	$458	$754	$902	51.15	263.52
12	Panama City	1086990	90	$850	$1,855	$2,060	$3,753	22.07	273.59
13	Puerto Armuelles	20455						142.99	304.52
14	San Miguelito	375409	47	$831	$962	$1,982	$2,113	188.57	267.47
15	Santiago	31065	70	$672	$1,432	$1,579	$2,792	198.43	292.36
16	Veracruz	18589						106.23	270.99
17	Vista Alegre	170						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.