Cost of Living in Panama - Updated Prices & Insights

Name: Panama
Address: PA

Monthly Cost of Living

A single person spends around $802 per month with rent on average in Panama.

A couple spends around $1,197 per month with rent on average in Panama.

A family of three spends around $1,591 per month with rent on average in Panama.

Meal at Budget Restaurant

$7.88 PAB 7.88

$4.93 PAB 4.93

$19.70 PAB 19.70

Three-Course Dinner for Two, Mid-Range

$44.24 PAB 44.24

$29.49 PAB 29.49

$73.7 PAB 73.7

Fast Food Meal (McDonalds, etc)

$8.10 PAB 8.10

$7.08 PAB 7.08

$10.12 PAB 10.12

Cappuccino

$4.03 PAB 4.03

$2.05 PAB 2.05

$5.33 PAB 5.33

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

$1.62 PAB 1.62

$1.02 PAB 1.02

$2.55 PAB 2.55

Water (0.33 liter bottle)

$1.33 PAB 1.33

$0.98 PAB 0.98

$1.96 PAB 1.96

Local Beer (0.5 liter draught)

$2.23 PAB 2.23

$0.99 PAB 0.99

$3.97 PAB 3.97

Imported Beer (0.33 liter bottle)

$3.89 PAB 3.89

$2.43 PAB 2.43

$5.83 PAB 5.83

Milk (1 liter)

$1.87 PAB 1.87

$1.53 PAB 1.53

$2.16 PAB 2.16

White Bread (500g)

$2.29 PAB 2.29

$1.26 PAB 1.26

$3.99 PAB 3.99

Rice (white) (1kg)

$2.86 PAB 2.86

$1.57 PAB 1.57

$6.09 PAB 6.09

Eggs

$2.53 PAB 2.53

$1.79 PAB 1.79

$3.58 PAB 3.58

Local Cheese (1kg)

$12.38 PAB 12.38

$4.03 PAB 4.03

$17.56 PAB 17.56

Chicken Fillets (1kg)

$6.94 PAB 6.94

$3.01 PAB 3.01

$8.84 PAB 8.84

Beef Round Steak (1kg)

$10.04 PAB 10.04

$6.09 PAB 6.09

$16.13 PAB 16.13

Apples (1kg)

$4.27 PAB 4.27

$2.21 PAB 2.21

$8.62 PAB 8.62

Banana (1kg)

$1.45 PAB 1.45

$0.99 PAB 0.99

$2.92 PAB 2.92

Oranges (1kg)

$3.23 PAB 3.23

$0.97 PAB 0.97

$5.86 PAB 5.86

Tomato (1kg)

$3.56 PAB 3.56

$1.70 PAB 1.70

$5.34 PAB 5.34

Potato (1kg)

$2.52 PAB 2.52

$1.51 PAB 1.51

$4.94 PAB 4.94

Onion (1kg)

$3.19 PAB 3.19

$1.41 PAB 1.41

$5.05 PAB 5.05

Lettuce (1 head)

$2.17 PAB 2.17

$1.19 PAB 1.19

$2.97 PAB 2.97

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)

$5.95 PAB 5.95

$4.96 PAB 4.96

$6.44 PAB 6.44

Wine (Bottle)

$9.91 PAB 9.91

$5.55 PAB 5.55

$14.86 PAB 14.86

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)

$2.33 PAB 2.33

$0.98 PAB 0.98

$3.94 PAB 3.94

One-way Ticket (Public Transport)

$0.49 PAB 0.49

$0.34 PAB 0.34

$0.97 PAB 0.97

Public Transport Monthly Pass (Regular Price)

$21.20 PAB 21.20

$15.14 PAB 15.14

$25.24 PAB 25.24

Taxi Start (Normal Tariff)

$2.46 PAB 2.46

$1.47 PAB 1.47

$2.46 PAB 2.46

Taxi (Normal Tariff) (1km)

$1.84 PAB 1.84

$1.83 PAB 1.83

$3.05 PAB 3.05

Taxi 1hour Waiting (Normal Tariff)

$22.35 PAB 22.35

$21.33 PAB 21.33

$25.39 PAB 25.39

Gasoline (1 liter)

$1.07 PAB 1.07

$0.85 PAB 0.85

$1.20 PAB 1.20

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)

$22.6K PAB 22.6K

$21.1K PAB 21.1K

$24.1K PAB 24.1K

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

$117 PAB 117

$62.0 PAB 62.0

$203 PAB 203

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

$26.75 PAB 26.75

$16.80 PAB 16.80

$31.62 PAB 31.62

Internet (50+ Mbps, Unlimited Data)

$46.64 PAB 46.64

$34.55 PAB 34.55

$59.2 PAB 59.2

Gym Membership (Monthly)

$49.56 PAB 49.56

$28.58 PAB 28.58

$98.6 PAB 98.6

Tennis Court (1 Hour on Weekend)

$28.52 PAB 28.52

$9.81 PAB 9.81

$49.07 PAB 49.07

Cinema Ticket

$7.78 PAB 7.78

$6.32 PAB 6.32

$15.57 PAB 15.57

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

$537 PAB 537

$494 PAB 494

$742 PAB 742

International Primary School, 1 Child (Yearly)

$7,756 PAB 7,756

$5,980 PAB 5,980

$18.9K PAB 18.9K

Jeans (Levis 501 Or Similar)

$49.93 PAB 49.93

$24.69 PAB 24.69

$79.0 PAB 79.0

Summer Dress (H&M, Zara, etc)

$38.34 PAB 38.34

$24.72 PAB 24.72

$59.3 PAB 59.3

Sport Shoes (Adidas, Nike)

$89.8 PAB 89.8

$65.9 PAB 65.9

$101 PAB 101

Men's Leather Business Shoes

$118 PAB 118

$64.9 PAB 64.9

$200 PAB 200

1-bedroom Apartment, City Center (Monthly)

$914 PAB 914

$450 PAB 450

$1,499 PAB 1,499

1-bedroom Apartment, Outside City Center (Monthly)

$702 PAB 702

$447 PAB 447

$1,042 PAB 1,042

3-bedroom Apartment, City Center (Monthly)

$1,680 PAB 1,680

$1,013 PAB 1,013

$3,365 PAB 3,365

3-bedroom Apartment, Outside City Center (Monthly)

$1,241 PAB 1,241

$883 PAB 883

$2,017 PAB 2,017

Buy Apartment in City Center (m2)

$3,040 PAB 3,040

$2,142 PAB 2,142

$3,341 PAB 3,341

Buy Apartment Outside City Center (m2)

$1,657 PAB 1,657

$1,394 PAB 1,394

$1,882 PAB 1,882

Average Monthly Net Salary (After Tax)

$827 PAB 827

20-Year Fixed Mortgage Interest Rate (Annual %)

6.35

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

Last update: September 12, 2026

Cost Breakdown

The average net salary in Panama is $714 – below average monthly costs of $802. Many locals rely on dual incomes or shared housing. Remote workers earning abroad find strong purchasing power here.

Groceries average around $174 per month nationally. A mid-range dinner for two costs about $28.00.

Cost Highlights

Overall living costs ($802) is 41% below the global median of $1,368.

Average rent ($340) is 49% below the global median of $667.

Dining out ($28.00) is 42% below the global median of $48.00.

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

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	-	44	$891	$927	$1,927	$2,040	35.29	264.33
2	Bocas del Toro	159228		$619	$1,473	$1,451	$2,671	62.64	154.53
3	Bocastown, Isla Colon	-		$588	$1,211	$1,471	$2,949	-	-
4	Boquete	7000	68	$683	$1,475	$1,593	$2,987	25.92	292.49
5	Bugaba	25000	34					20.75	279.79
6	Coronado	-	66	$629	$1,437	$1,560	$3,141	36.04	234.36
7	David	82907		$339	$888	$911	$1,022	300.27	299.06
8	El Valle de Anton	-	62	$684	$1,353	$1,747	$2,816	28.86	219.26
9	La Chorrera	258221		$27.06	$175	$67.8	$67.4	141.92	290.42
10	Las Cumbres	-						65.34	293.65
11	Las Tablas	-		$316	$461	$754	$892	51.15	263.52
12	Panama City	1086990	87	$822	$1,874	$1,965	$3,597	22.07	273.59
13	Puerto Armuelles	20455						142.99	304.52
14	San Miguelito	375409	44	$743	$931	$1,966	$2,096	188.57	267.47
15	Santiago	31065	67	$623	$1,428	$1,470	$2,772	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.