Cost of Living in Panama City, Panama
Panama · North America
$1,700
Monthly Cost
avg/person
52
Cost Index
NYC=100
48
Rent Index
NYC=100
66
Quality of Life
Good
48
Safety Index
Below Average
1.5M
Population
USD
Quality Indices
Currency
Data collected from contributors and public sources.
Updated Monthly
Prices are indicative.
| Item | Price (USD) |
|---|---|
| Meal (inexpensive) | $7 |
| Meal for 2 (mid-range) | $30 |
| McMeal at McDonald's | $7 |
| Domestic Beer (0.5L) | $3 |
| Imported Beer (0.33L) | $4 |
| Cappuccino | $3 |
| Coke/Pepsi (0.33L) | $1.2 |
| Water (0.33L) | $0.8 |
| Item | Price (USD) |
|---|---|
| Milk (1L) | $1.2 |
| Bread (500g) | $1.2 |
| Rice (1kg) | $1 |
| Eggs (12) | $2.5 |
| Chicken (1kg) | $4 |
| Beef (1kg) | $7 |
| Apples (1kg) | $2.5 |
| Banana (1kg) | $0.6 |
| Tomato (1kg) | $1.5 |
| Potato (1kg) | $1 |
| Onion (1kg) | $0.8 |
| Water (1.5L) | $0.7 |
| Item | Price (USD) |
|---|---|
| 1-way Ticket (local) | $0.35 |
| Monthly Pass | $30 |
| Taxi 1km | $0.6 |
| Gasoline (1L) | $0.9 |
| Volkswagen Golf | $28000 |
| Toyota Corolla | $23000 |
| Item | Price (USD) |
|---|---|
| Basic (85m² apt) | $100 |
| Mobile Plan | $20 |
| Internet (60 Mbps) | $35 |
| Fitness Club/month | $40 |
| Item | Price (USD) |
|---|---|
| 1BR Center | $900/mo |
| 1BR Outside | $580/mo |
| 3BR Center | $2,000/mo |
| 3BR Outside | $1,200/mo |
| Price/m² Center | $3,500/m² |
| Price/m² Outside | $2,000/m² |
| Item | Price (USD) |
|---|---|
| Average Net Salary | $1200 |
| Mortgage Interest Rate | 6.5% |
Cost of Living in Panama City — Complete Guide (2026)
Monthly Budget Overview
The average cost of living in Panama City, Panama is approximately $1,700 per month for a single person. This includes rent, groceries, local transport, and utilities. Compared to New York City (index 100), Panama City has a cost index of 52, making it around 48% more affordable.
Rent and Housing
Renting a one-bedroom apartment outside the city center in Panama City costs around $580/month, while a one-bedroom in the center is approximately $900/month. A three-bedroom apartment in the center averages $2,000/month. The rent index is 48 compared to New York City.
Quality of Life and Safety
Panama City scores 66/100 on the quality of life index and 48/100 on safety. Healthcare is rated 68/100. The climate index is 68/100. These scores are based on factors including infrastructure, pollution levels, healthcare access, and crime rates reported by residents and contributors.
Salaries and Purchasing Power
The average net salary in Panama City is approximately $1,200/month. With a purchasing power index of 60/100, residents can cover basic expenses and save modestly. The local currency is USD, though all prices on this page are displayed in USD for easy international comparison.
Cost of Living vs Salary in Panama City
The average monthly salary in Panama City is approximately $1,200. Compared with the average monthly living cost of $1,700, residents generally enjoy a purchasing power score of 60/100.
Healthcare Costs in Panama City
Healthcare quality in Panama City is rated 68/100. Medical expenses vary depending on insurance coverage and healthcare providers, but overall healthcare access remains an important factor when evaluating the total cost of living.
Quality of Life in Panama City
Panama City has a quality of life score of 66/100, supported by factors such as healthcare, safety, climate, purchasing power, infrastructure, and public services.
Cost of Living for Students in Panama City
Students living in Panama City should budget for accommodation, food, transportation, internet, and study-related expenses. Shared housing and student discounts can significantly reduce monthly costs.
Cost of Living for Expats in Panama City
Expats moving to Panama City often consider rent, healthcare, transportation, taxation, and lifestyle costs. Worldlivingcost data helps compare living expenses with other cities worldwide before relocation.
Quick Answer
The average cost of living in Panama City, Panama is approximately $1,700 per month for a single person including rent, groceries, transportation, utilities and healthcare. The city's cost index is 52 compared with New York City (100).
Living in Panama City
Living in Panama City offers a balance between housing costs, transportation expenses, healthcare access and overall quality of life. The city has a cost of living index of 52 and a quality of life score of 66/100. Residents spend most of their monthly budget on housing, groceries and transportation, while local salaries average $1,200 per month. For expats, students, remote workers and families, Panama City provides a useful benchmark when comparing living costs with other cities in Panama and around the world.
Key Facts About Panama City
- Average Monthly Cost: $1,700
- Cost Index: 52
- Rent Index: 48
- Average Salary: $1,200
- Quality of Life: 66/100
- Safety Score: 48/100
- Country: Panama
- Currency: USD
Is Panama City Expensive?
Panama City has a cost index of 52 compared with New York City's benchmark score of 100. This means it is more affordable than many major international cities.
How does Panama City compare to other cities?
Panama City is located in North America with a population of approximately 1.5M. At a cost index of 52 (NYC = 100), it is a moderately affordable city, offering good value compared to most Western cities. Use the free comparison tool to see how Panama City stacks up against any other city worldwide across rent, groceries, transport, and salaries.
Frequently Asked Questions
What is the cost of living in Panama City?
The average cost of living in Panama City, Panama is approximately $1,700 per month for a single person, including rent, food, transportation, and utilities. The cost index is 52 relative to New York City (NYC = 100).
How much does rent cost in Panama City?
Rent in Panama City varies by neighborhood and apartment size. The rent index is 48 (NYC=100). Use Worldlivingcost's city comparison tool to see detailed rent prices for Panama City alongside other cities worldwide.
Is Panama City expensive to live in?
Panama City has a cost index of 52 compared to New York City (100). At 52, Panama City is moderately priced and more affordable than most Western cities. The average monthly budget for a single person is around $1,700.
What is the quality of life in Panama City?
Panama City has a quality of life index of 66/100 and a safety index of 48/100. The city is located in North America and offers a good quality of life rating based on factors including safety, healthcare, climate, and infrastructure.
How does the cost of living in Panama City compare to other cities?
Use Worldlivingcost's free comparison tool to compare Panama City with any city worldwide. Panama City's cost index is 52 (NYC=100), making it cheaper than New York. Compare rent, groceries, transport, healthcare, and salaries side by side.
Can you live comfortably in Panama City?
Many residents live comfortably in Panama City with a monthly budget of around $1,700 depending on lifestyle and housing choices.
Is Panama City good for expats?
Panama City is popular among expats due to its job opportunities, quality of life, and infrastructure.
What salary is needed in Panama City?
A salary above the average monthly living cost of $1,700 is generally sufficient for a comfortable lifestyle in Panama City.
Is Panama City cheaper than New York?
Yes, Panama City has a cost index of 52 compared with New York City's benchmark index of 100.
What are the biggest expenses in Panama City?
Housing, rent, groceries, transportation, and healthcare are typically the largest monthly expenses in Panama City.
Best Time & Tips to Save Money in Panama City
Cheapest Ways to Live in Panama City
Newcomers looking to reduce their monthly budget in Panama City typically save the most on housing by choosing accommodation outside the city center, where rent runs close to $580/month compared to $900/month in the center. Cooking at home instead of dining out, using public transport instead of taxis, and sharing an apartment with roommates are the most effective ways to cut living expenses in Panama City, Panama.
Is Panama City Worth Moving To?
With a purchasing power index of 60/100 and a quality of life score of 66/100, Panama City is a reasonable option for relocation, balancing affordability with adequate quality of life. Combined with a cost index of 52 relative to New York City, Panama City remains a popular search term among people comparing the cost of living Panama has to offer against other destinations in North America.
Panama City Cost of Living FAQ Summary
People searching for "cost of living in Panama City", "Panama City monthly expenses 2026", and "is Panama City affordable" can use this page as a complete reference. With an average monthly cost of $1,700, a safety score of 48/100, and healthcare rated 68/100, Panama City offers a data-backed answer for expats, digital nomads, students, and families planning a move to Panama.
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