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 across Panama.

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

A family of three spends around $1,565 per month with rent on average across Panama.

Across 17 cities in Panama, monthly living costs range from $0 to $1,812 – a $1,812 difference that makes location a key factor.

Meal at Budget Restaurant

$9.84 PAB 9.84

$4.92 PAB 4.92

$15.74 PAB 15.74

Three-Course Dinner for Two, Mid-Range

$50.8 PAB 50.8

$35.54 PAB 35.54

$102 PAB 102

Fast Food Meal (McDonalds, etc)

$7.35 PAB 7.35

$6.87 PAB 6.87

$8.49 PAB 8.49

Cappuccino

$3.47 PAB 3.47

$1.90 PAB 1.90

$4.88 PAB 4.88

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

$1.50 PAB 1.50

$1.01 PAB 1.01

$2.52 PAB 2.52

Water (0.33 liter bottle)

$1.29 PAB 1.29

$1.02 PAB 1.02

$2.04 PAB 2.04

Local Beer (0.5 liter draught)

$2.24 PAB 2.24

$1.49 PAB 1.49

$3.28 PAB 3.28

Imported Beer (0.33 liter bottle)

$3.76 PAB 3.76

$2.41 PAB 2.41

$5.02 PAB 5.02

Milk (1 liter)

$1.79 PAB 1.79

$1.44 PAB 1.44

$2.08 PAB 2.08

White Bread (500g)

$2.41 PAB 2.41

$1.24 PAB 1.24

$3.94 PAB 3.94

Rice (white) (1kg)

$2.27 PAB 2.27

$1.09 PAB 1.09

$3.96 PAB 3.96

Eggs

$2.61 PAB 2.61

$1.18 PAB 1.18

$3.37 PAB 3.37

Local Cheese (1kg)

$11.25 PAB 11.25

$3.98 PAB 3.98

$24.85 PAB 24.85

Chicken Fillets (1kg)

$7.34 PAB 7.34

$3.32 PAB 3.32

$11.27 PAB 11.27

Beef Round Steak (1kg)

$9.31 PAB 9.31

$4.01 PAB 4.01

$15.48 PAB 15.48

Apples (1kg)

$3.92 PAB 3.92

$1.49 PAB 1.49

$6.44 PAB 6.44

Banana (1kg)

$1.34 PAB 1.34

$0.89 PAB 0.89

$2.97 PAB 2.97

Oranges (1kg)

$2.83 PAB 2.83

$0.97 PAB 0.97

$4.28 PAB 4.28

Tomato (1kg)

$3.05 PAB 3.05

$1.02 PAB 1.02

$4.48 PAB 4.48

Potato (1kg)

$2.08 PAB 2.08

$0.97 PAB 0.97

$2.92 PAB 2.92

Onion (1kg)

$2.38 PAB 2.38

$0.99 PAB 0.99

$4.36 PAB 4.36

Lettuce (1 head)

$2.12 PAB 2.12

$1.01 PAB 1.01

$3.02 PAB 3.02

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)

$5.96 PAB 5.96

$5.04 PAB 5.04

$6.55 PAB 6.55

Wine (Bottle)

$9.90 PAB 9.90

$6.93 PAB 6.93

$14.85 PAB 14.85

Local Beer (0.5 liter bottle)

$1.21 PAB 1.21

$0.61 PAB 0.61

$2.24 PAB 2.24

Imported Beer (0.33 liter bottle)

$2.27 PAB 2.27

$1.21 PAB 1.21

$4.07 PAB 4.07

One-way Ticket (Public Transport)

$0.48 PAB 0.48

$0.33 PAB 0.33

$1.67 PAB 1.67

Public Transport Monthly Pass (Regular Price)

$25.15 PAB 25.15

$20.12 PAB 20.12

$30.18 PAB 30.18

Taxi Start (Normal Tariff)

$1.98 PAB 1.98

$1.48 PAB 1.48

$3.46 PAB 3.46

Taxi (Normal Tariff) (1km)

$2.04 PAB 2.04

$1.53 PAB 1.53

$5.11 PAB 5.11

Taxi 1hour Waiting (Normal Tariff)

$21.35 PAB 21.35

$14.23 PAB 14.23

$25.42 PAB 25.42

Gasoline (1 liter)

$0.95 PAB 0.95

$0.90 PAB 0.90

$1.20 PAB 1.20

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

$21.5K PAB 21.5K

$19.3K PAB 19.3K

$24.7K PAB 24.7K

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

$20.9K PAB 20.9K

$19.5K PAB 19.5K

$24.7K PAB 24.7K

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

$109 PAB 109

$74.4 PAB 74.4

$202 PAB 202

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

$29.02 PAB 29.02

$19.92 PAB 19.92

$34.85 PAB 34.85

Internet (50+ Mbps, Unlimited Data)

$47.61 PAB 47.61

$34.71 PAB 34.71

$65.5 PAB 65.5

Gym Membership (Monthly)

$49.63 PAB 49.63

$28.67 PAB 28.67

$98.9 PAB 98.9

Tennis Court (1 Hour on Weekend)

$33.82 PAB 33.82

$20.04 PAB 20.04

$50.1 PAB 50.1

Cinema Ticket

$7.17 PAB 7.17

$5.12 PAB 5.12

$15.36 PAB 15.36

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

$451 PAB 451

$303 PAB 303

$656 PAB 656

International Primary School, 1 Child (Yearly)

$11.6K PAB 11.6K

$6,076 PAB 6,076

$20.3K PAB 20.3K

Jeans (Levis 501 Or Similar)

$47.53 PAB 47.53

$25.28 PAB 25.28

$70.8 PAB 70.8

Summer Dress (H&M, Zara, etc)

$41.39 PAB 41.39

$25.15 PAB 25.15

$80.5 PAB 80.5

Sport Shoes (Adidas, Nike)

$83.8 PAB 83.8

$59.4 PAB 59.4

$98.9 PAB 98.9

Men's Leather Business Shoes

$118 PAB 118

$49.98 PAB 49.98

$200 PAB 200

1-bedroom Apartment, City Center (Monthly)

$936 PAB 936

$599 PAB 599

$1,498 PAB 1,498

1-bedroom Apartment, Outside City Center (Monthly)

$704 PAB 704

$453 PAB 453

$1,181 PAB 1,181

3-bedroom Apartment, City Center (Monthly)

$1,726 PAB 1,726

$1,187 PAB 1,187

$2,969 PAB 2,969

3-bedroom Apartment, Outside City Center (Monthly)

$1,375 PAB 1,375

$961 PAB 961

$2,024 PAB 2,024

Buy Apartment in City Center (m2)

$3,073 PAB 3,073

$2,122 PAB 2,122

$3,310 PAB 3,310

Buy Apartment Outside City Center (m2)

$1,693 PAB 1,693

$1,520 PAB 1,520

$1,992 PAB 1,992

Average Monthly Net Salary (After Tax)

$827 PAB 827

20-Year Fixed Mortgage Interest Rate (Annual %)

6.3

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

Last update: April 20, 2026

Cost Breakdown

A central one-bedroom averages $368 nationally. In Panama City, expect around $1,125, while Veracruz – the country's most affordable city overall – comes in at $0.

The average net salary across Panama is $701 – 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 $179 per month nationally. A mid-range dinner for two costs about $28.

Most affordable: Veracruz at $0 per month. The capital, Panama City, sits at $1,812. Across the country, monthly costs span roughly $1,812 between the cheapest and priciest cities.

Cost Highlights

Overall living costs ($843) is 37% below the global median of $1,340.

Average rent ($368) is 41% below the global median of $621.

Dining out ($28) is 42% below the global median of $48.

Public transport ($5) is 85% below the global median of $33.

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	$738	$888	$1,802	$1,969	35.29	264.33
2	Bocas del Toro	159228		$502	$1,417	$1,308	$2,576	62.64	154.53
3	Bocastown, Isla Colon	-		$576	$1,150	$1,423	$1,509	-	-
4	Boquete	7000	69	$748	$1,360	$1,481	$2,731	25.92	292.49
5	Bugaba	25000	34	$485	$662	$914	$1,373	20.75	279.79
6	Coronado	-	67	$713	$1,357	$1,396	$3,007	36.04	234.36
7	David	82907		$526	$1,015	$1,034	$1,313	300.27	299.06
8	El Valle de Anton	-	42	$755	$830	$1,981	$1,894	28.86	219.26
9	La Chorrera	258221		$34.17	$174	$75.5	$416	141.92	290.42
10	Las Cumbres	-						65.34	293.65
11	Las Tablas	-		$191	$834	$563	$649	51.15	263.52
12	Panama City	1086990	90	$780	$1,812	$1,907	$3,696	22.07	273.59
13	Puerto Armuelles	20455		$202	$525	$311	$860	142.99	304.52
14	San Miguelito	375409	44	$841	$891	$1,870	$1,968	188.57	267.47
15	Santiago	31065	70	$688	$1,413	$1,592	$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, $2,000 covers rent and daily expenses with room to spare for eating out, entertainment, and saving. Even mid-sized cities work at this budget level.