Last update: Oct 2026 4.1M

Cost of Living in Panama

Name: Panama
Address: PA

Across Panama, living costs for one person average $1,619 a month, including rent and utilities, which take about half of the total. Other living expenses average about $26 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 $1,619 per month with rent on average in Panama.

$1,619 /mo

A couple spends around $2,502 per month with rent on average in Panama.

$2,502 /mo

A family of three spends around $3,384 per month with rent on average in Panama.

$3,384 /mo

Across 17 cities in Panama, monthly living costs range from $174 to $1,932 – a $1,758 difference that makes location a key factor.

Meal at Budget Restaurant

$8.22 PAB 8.22

$5.14 PAB 5.14

$20.55 PAB 20.55

Three-Course Dinner for Two, Mid-Range

$44.37 PAB 44.37

$29.58 PAB 29.58

$73.9 PAB 73.9

Fast Food Meal (McDonalds, etc)

$8.18 PAB 8.18

$7.16 PAB 7.16

$10.23 PAB 10.23

Cappuccino

$4.02 PAB 4.02

$2.05 PAB 2.05

$5.33 PAB 5.33

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

$1.63 PAB 1.63

$1.01 PAB 1.01

$2.53 PAB 2.53

Water (0.33 liter bottle)

$1.35 PAB 1.35

$0.98 PAB 0.98

$1.95 PAB 1.95

Local Beer (0.5 liter draught)

$2.20 PAB 2.20

$0.98 PAB 0.98

$3.91 PAB 3.91

Imported Beer (0.33 liter bottle)

$4.06 PAB 4.06

$2.54 PAB 2.54

$6.09 PAB 6.09

Milk (1 liter)

$1.87 PAB 1.87

$1.53 PAB 1.53

$2.16 PAB 2.16

White Bread (500g)

$2.43 PAB 2.43

$1.48 PAB 1.48

$4.06 PAB 4.06

Rice (white) (1kg)

$3.04 PAB 3.04

$1.57 PAB 1.57

$6.69 PAB 6.69

Eggs

$2.47 PAB 2.47

$1.75 PAB 1.75

$3.51 PAB 3.51

Local Cheese (1kg)

$12.09 PAB 12.09

$3.94 PAB 3.94

$17.18 PAB 17.18

Chicken Fillets (1kg)

$7.24 PAB 7.24

$3.06 PAB 3.06

$9.17 PAB 9.17

Beef Round Steak (1kg)

$10.09 PAB 10.09

$5.92 PAB 5.92

$15.68 PAB 15.68

Apples (1kg)

$4.13 PAB 4.13

$2.15 PAB 2.15

$5.86 PAB 5.86

Banana (1kg)

$1.50 PAB 1.50

$0.99 PAB 0.99

$2.97 PAB 2.97

Oranges (1kg)

$3.61 PAB 3.61

$0.99 PAB 0.99

$5.97 PAB 5.97

Tomato (1kg)

$3.84 PAB 3.84

$1.80 PAB 1.80

$5.65 PAB 5.65

Potato (1kg)

$2.63 PAB 2.63

$1.53 PAB 1.53

$5.11 PAB 5.11

Onion (1kg)

$3.26 PAB 3.26

$1.41 PAB 1.41

$5.04 PAB 5.04

Lettuce (1 head)

$2.21 PAB 2.21

$1.17 PAB 1.17

$2.92 PAB 2.92

Water (1.5 liter bottle)

$1.59 PAB 1.59

$0.99 PAB 0.99

$2.37 PAB 2.37

Cigarettes 20 Pack (Marlboro, Camel)

$5.96 PAB 5.96

$4.97 PAB 4.97

$6.46 PAB 6.46

Wine (Bottle)

$9.88 PAB 9.88

$5.54 PAB 5.54

$14.83 PAB 14.83

Local Beer (0.5 liter bottle)

$1.39 PAB 1.39

$0.76 PAB 0.76

$2.03 PAB 2.03

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)

$0.41 PAB 0.41

$0.26 PAB 0.26

$1.03 PAB 1.03

Public Transport Monthly Pass (Regular Price)

$21.33 PAB 21.33

$15.24 PAB 15.24

$25.40 PAB 25.40

Taxi Start (Normal Tariff)

$2.56 PAB 2.56

$1.54 PAB 1.54

$3.07 PAB 3.07

Taxi (Normal Tariff) (1km)

$1.84 PAB 1.84

$1.83 PAB 1.83

$3.05 PAB 3.05

Taxi 1hour Waiting (Normal Tariff)

$21.97 PAB 21.97

$24.96 PAB 24.96

Gasoline (1 liter)

$1.17 PAB 1.17

$0.88 PAB 0.88

$1.40 PAB 1.40

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

$26.0K PAB 26.0K

$21.7K PAB 21.7K

$26.0K PAB 26.0K

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

$22.9K PAB 22.9K

$21.4K PAB 21.4K

$24.4K PAB 24.4K

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

$116 PAB 116

$49.42 PAB 49.42

$198 PAB 198

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

$26.53 PAB 26.53

$15.68 PAB 15.68

$31.36 PAB 31.36

Internet (50+ Mbps, Unlimited Data)

$46.36 PAB 46.36

$34.35 PAB 34.35

$58.9 PAB 58.9

Gym Membership (Monthly)

$47.47 PAB 47.47

$26.54 PAB 26.54

$98.3 PAB 98.3

Tennis Court (1 Hour on Weekend)

$30.48 PAB 30.48

$10.19 PAB 10.19

$51.0 PAB 51.0

Cinema Ticket

$7.77 PAB 7.77

$6.32 PAB 6.32

$15.55 PAB 15.55

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

$541 PAB 541

$497 PAB 497

$746 PAB 746

International Primary School, 1 Child (Yearly)

$7,955 PAB 7,955

$5,980 PAB 5,980

$18.9K PAB 18.9K

Jeans (Levis 501 Or Similar)

$55.3 PAB 55.3

$25.39 PAB 25.39

$81.2 PAB 81.2

Summer Dress (H&M, Zara, etc)

$44.64 PAB 44.64

$24.87 PAB 24.87

$59.7 PAB 59.7

Sport Shoes (Adidas, Nike)

$88.1 PAB 88.1

$64.7 PAB 64.7

$99.5 PAB 99.5

Men's Leather Business Shoes

$102 PAB 102

$64.5 PAB 64.5

$149 PAB 149

1-bedroom Apartment, City Center (Monthly)

$994 PAB 994

$565 PAB 565

$1,672 PAB 1,672

1-bedroom Apartment, Outside City Center (Monthly)

$727 PAB 727

$454 PAB 454

$1,272 PAB 1,272

3-bedroom Apartment, City Center (Monthly)

$1,830 PAB 1,830

$1,071 PAB 1,071

$3,366 PAB 3,366

3-bedroom Apartment, Outside City Center (Monthly)

$1,390 PAB 1,390

$1,002 PAB 1,002

$2,025 PAB 2,025

Buy Apartment in City Center (m2)

$3,036 PAB 3,036

$2,120 PAB 2,120

$3,307 PAB 3,307

Buy Apartment Outside City Center (m2)

$1,764 PAB 1,764

$1,550 PAB 1,550

$2,286 PAB 2,286

Average Monthly Net Salary (After Tax)

$821 PAB 821

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 26, 2026

Monthly budget structure

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

Panama $1,619

Accommodation & Living

$727 44.9%

Groceries & Markets

$305 18.8%

Monthly Utilities & Internet

$189 11.7%

Eating Out

$170 10.5%

Clothing & Footwear

$131 8.1%

Sport & Entertainment

$63 3.9%

Getting Around

$35 2.2%

Cost Breakdown

The average net salary in Panama is $692 – below average monthly costs of $1,619. Many locals rely on dual incomes or shared housing. Remote workers earning abroad find strong purchasing power here.

Groceries average around $249 per month nationally. A mid-range dinner for two costs about $43.

Most affordable: La Chorrera at $174 per month. The capital, Panama City, sits at $1,932. Across the country, monthly costs span roughly $1,758 between the cheapest and priciest cities.

Cost Highlights

Overall cost of living ($1,619) is 19% above the global median of $1,361.

Public transport ($23) is 30% below the global median of $33.

Good to know

🕒 Local time

03:07 3:07 AM

🌤 Weather

👥 Population

4,098,587

💱 Currency

Panamanian Balboa PAB B/.

📈 Exchange rate

1 PAB = 1 USD

1 PAB = 0.897 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	46	$827	$958	$1,978	$2,109	35.29	264.33
2	Bocas del Toro	159228		$580	$1,475	$1,487	$2,701	62.64	154.53
3	Bocastown, Isla Colon	5380		$534	$1,206	$1,317	$2,936	-	-
4	Boquete	7000	70	$692	$1,438	$1,665	$3,026	25.92	292.49
5	Bugaba	25000						20.75	279.79
6	Coronado	1444		$607	$1,342	$1,526	$2,999	36.04	234.36
7	David	82907		$343	$883	$829	$1,014	300.27	299.06
8	El Valle de Anton	146	65	$781	$1,356	$1,881	$2,875	28.86	219.26
9	La Chorrera	258221		$30.37	$174	$66.1	$66.1	141.92	290.42
10	Las Cumbres	69102						65.34	293.65
11	Las Tablas	8939		$308	$456	$754	$901	51.15	263.52
12	Panama City	1086990	94	$847	$1,932	$2,047	$3,841	22.07	273.59
13	Puerto Armuelles	20455						142.99	304.52
14	San Miguelito	375409	46	$826	$955	$1,972	$2,101	188.57	267.47
15	Santiago	31065	69	$669	$1,442	$1,571	$2,796	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 falls in the middle globally – not a bargain destination, not an expensive one. Costs vary a lot by region, which means it works for a wide range of incomes and lifestyles depending on where you settle.

In 2026, monthly costs in Panama range from $174 in the most affordable city to $1,932 in the most expensive one. Where you choose to live makes a dramatic difference – the gap between cheapest and most expensive cities is huge.

Rent in Panama varies a lot – Panama City has the highest prices, and other cities are usually cheaper. Choosing which city to live in is one of the biggest financial decisions you’ll make.

In regional cities, $1,000 is plenty. In Panama City? You’ll need to plan carefully, especially around housing. Shared apartments or outer neighborhoods are the usual workarounds.

Panama is mid-range globally, with more affordable cities starting around $174 per month. Not the cheapest option out there, but far from the most expensive – a reasonable balance of cost and quality of life.