Cost of Living in Panama - Updated Prices & Insights

Name: Panama
Address: PA

Monthly Cost of Living

A single person spends around $843 per month with rent on average in Panama.

A couple spends around $1,207 per month with rent on average in Panama.

A family of three spends around $1,570 per month with rent on average in Panama.

Meal at Budget Restaurant

$10.10 PAB 10.10

$5.05 PAB 5.05

$16.16 PAB 16.16

Three-Course Dinner for Two, Mid-Range

$49.62 PAB 49.62

$34.73 PAB 34.73

$99.2 PAB 99.2

Fast Food Meal (McDonalds, etc)

$7.60 PAB 7.60

$7.11 PAB 7.11

$8.78 PAB 8.78

Cappuccino

$3.53 PAB 3.53

$1.93 PAB 1.93

$4.96 PAB 4.96

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

$1.51 PAB 1.51

$1.01 PAB 1.01

$2.54 PAB 2.54

Water (0.33 liter bottle)

$1.31 PAB 1.31

$1.03 PAB 1.03

$2.06 PAB 2.06

Local Beer (0.5 liter draught)

$2.29 PAB 2.29

$1.53 PAB 1.53

$3.36 PAB 3.36

Imported Beer (0.33 liter bottle)

$3.86 PAB 3.86

$2.47 PAB 2.47

$5.14 PAB 5.14

Milk (1 liter)

$1.78 PAB 1.78

$1.42 PAB 1.42

$2.06 PAB 2.06

White Bread (500g)

$2.46 PAB 2.46

$1.27 PAB 1.27

$4.03 PAB 4.03

Rice (white) (1kg)

$2.34 PAB 2.34

$1.12 PAB 1.12

$4.09 PAB 4.09

Eggs

$2.73 PAB 2.73

$1.23 PAB 1.23

$3.53 PAB 3.53

Local Cheese (1kg)

$11.34 PAB 11.34

$4.01 PAB 4.01

$25.04 PAB 25.04

Chicken Fillets (1kg)

$7.26 PAB 7.26

$3.29 PAB 3.29

$11.14 PAB 11.14

Beef Round Steak (1kg)

$9.21 PAB 9.21

$3.97 PAB 3.97

$15.32 PAB 15.32

Apples (1kg)

$3.93 PAB 3.93

$1.49 PAB 1.49

$6.44 PAB 6.44

Banana (1kg)

$1.31 PAB 1.31

$0.88 PAB 0.88

$2.92 PAB 2.92

Oranges (1kg)

$2.96 PAB 2.96

$1.02 PAB 1.02

$4.49 PAB 4.49

Tomato (1kg)

$3.09 PAB 3.09

$1.03 PAB 1.03

$4.54 PAB 4.54

Potato (1kg)

$2.12 PAB 2.12

$0.99 PAB 0.99

$2.97 PAB 2.97

Onion (1kg)

$2.40 PAB 2.40

$1.00 PAB 1.00

$4.39 PAB 4.39

Lettuce (1 head)

$2.07 PAB 2.07

$0.98 PAB 0.98

$2.95 PAB 2.95

Water (1.5 liter bottle)

$1.56 PAB 1.56

$0.98 PAB 0.98

$2.45 PAB 2.45

Cigarettes 20 Pack (Marlboro, Camel)

$5.75 PAB 5.75

$4.86 PAB 4.86

$6.31 PAB 6.31

Wine (Bottle)

$9.94 PAB 9.94

$5.56 PAB 5.56

$14.90 PAB 14.90

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)

$2.18 PAB 2.18

$1.16 PAB 1.16

$3.91 PAB 3.91

One-way Ticket (Public Transport)

$0.49 PAB 0.49

$0.34 PAB 0.34

$1.71 PAB 1.71

Public Transport Monthly Pass (Regular Price)

$24.96 PAB 24.96

$19.97 PAB 19.97

$29.96 PAB 29.96

Taxi Start (Normal Tariff)

$1.94 PAB 1.94

$1.46 PAB 1.46

$3.40 PAB 3.40

Taxi (Normal Tariff) (1km)

$2.06 PAB 2.06

$1.54 PAB 1.54

$5.14 PAB 5.14

Taxi 1hour Waiting (Normal Tariff)

$20.94 PAB 20.94

$13.96 PAB 13.96

$24.93 PAB 24.93

Gasoline (1 liter)

$0.95 PAB 0.95

$0.90 PAB 0.90

$1.21 PAB 1.21

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

$21.6K PAB 21.6K

$19.4K PAB 19.4K

$24.8K PAB 24.8K

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

$21.2K PAB 21.2K

$19.8K PAB 19.8K

$25.2K PAB 25.2K

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

$107 PAB 107

$72.9 PAB 72.9

$198 PAB 198

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

$28.81 PAB 28.81

$19.78 PAB 19.78

$34.61 PAB 34.61

Internet (50+ Mbps, Unlimited Data)

$47.81 PAB 47.81

$34.85 PAB 34.85

$65.7 PAB 65.7

Gym Membership (Monthly)

$50.7 PAB 50.7

$29.29 PAB 29.29

$101 PAB 101

Tennis Court (1 Hour on Weekend)

$33.25 PAB 33.25

$19.70 PAB 19.70

$49.26 PAB 49.26

Cinema Ticket

$6.93 PAB 6.93

$4.95 PAB 4.95

$14.85 PAB 14.85

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

$438 PAB 438

$294 PAB 294

$638 PAB 638

International Primary School, 1 Child (Yearly)

$11.4K PAB 11.4K

$5,932 PAB 5,932

$19.8K PAB 19.8K

Jeans (Levis 501 Or Similar)

$46.49 PAB 46.49

$24.73 PAB 24.73

$69.2 PAB 69.2

Summer Dress (H&M, Zara, etc)

$41.20 PAB 41.20

$25.03 PAB 25.03

$80.1 PAB 80.1

Sport Shoes (Adidas, Nike)

$85.2 PAB 85.2

$60.3 PAB 60.3

$101 PAB 101

Men's Leather Business Shoes

$117 PAB 117

$49.62 PAB 49.62

$199 PAB 199

1-bedroom Apartment, City Center (Monthly)

$954 PAB 954

$610 PAB 610

$1,526 PAB 1,526

1-bedroom Apartment, Outside City Center (Monthly)

$708 PAB 708

$455 PAB 455

$1,188 PAB 1,188

3-bedroom Apartment, City Center (Monthly)

$1,742 PAB 1,742

$1,198 PAB 1,198

$2,996 PAB 2,996

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)

$2,936 PAB 2,936

$2,079 PAB 2,079

$3,244 PAB 3,244

Buy Apartment Outside City Center (m2)

$1,692 PAB 1,692

$1,426 PAB 1,426

$1,925 PAB 1,925

Average Monthly Net Salary (After Tax)

$830 PAB 830

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 21, 2026

Cost Breakdown

The average net salary in Panama is $720 – below average monthly costs of $843. Many locals rely on dual incomes or shared housing. Remote workers earning abroad find strong purchasing power here.

Groceries average around $178 per month nationally. A mid-range dinner for two costs about $28.00.

Cost Highlights

Overall living costs ($843) is 37% below the global median of $1,336.

Average rent ($369) is 42% below the global median of $632.

Dining out ($28.00) is 42% 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	$815	$893	$1,714	$2,009	35.29	264.33
2	Bocas del Toro	159228		$509	$1,409	$1,233	$2,561	62.64	154.53
3	Bocastown, Isla Colon	-		$517	$1,164	$1,284	$1,487	-	-
4	Boquete	7000	69	$607	$1,381	$1,665	$2,804	25.92	292.49
5	Bugaba	25000	34	$472	$667	$1,051	$1,373	20.75	279.79
6	Coronado	-	67	$608	$1,333	$1,716	$2,954	36.04	234.36
7	David	82907		$469	$980	$1,217	$1,332	300.27	299.06
8	El Valle de Anton	-	42	$823	$850	$1,525	$1,867	28.86	219.26
9	La Chorrera	258221		$33.41	$170	$72.5	$416	141.92	290.42
10	Las Cumbres	-						65.34	293.65
11	Las Tablas	-		$175	$851	$442	$665	51.15	263.52
12	Panama City	1086990	90	$823	$1,822	$2,082	$3,690	22.07	273.59
13	Puerto Armuelles	20455		$204	$510	$332	$871	142.99	304.52
14	San Miguelito	375409	44	$840	$889	$1,658	$1,997	188.57	267.47
15	Santiago	31065	70	$607	$1,406	$1,517	$2,670	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.