Cost of Living in Panama City, Panama
Panama · North America
Cost of Living in Panama City: Quick Answer
The average cost of living in Panama City, Panama is approximately $1,700 per month for one person. This page covers rent, groceries, transportation, utilities, salaries and quality of life. The cost of living index is 52, using New York City as the 100-point benchmark.
$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
| 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
The cost of living in Panama City, Panama, depends mainly on housing, transportation, food, utilities and lifestyle. The estimated monthly cost for one person is $1,700. The city's cost of living index is 52, compared with a New York City benchmark of 100.
Monthly Expenses in Panama City
A typical monthly budget in Panama City includes rent, groceries, transportation, utilities and other everyday expenses. Housing is usually one of the largest parts of the monthly budget.
Rent and Housing Costs in Panama City
A one-bedroom apartment outside the city center costs approximately $580 per month, while a one-bedroom apartment in the city center costs around $900. A three-bedroom apartment in the center averages $2,000 per month.
Average Salary in Panama City
The average net salary in Panama City is approximately $1,200 per month. Purchasing power is rated 60out of 100.
Is Panama City Expensive to Live In?
With a cost of living index of 52,Panama City is less expensive than the New York City benchmark. Housing, groceries and transportation are important factors when comparing the total monthly cost.
Quality of Life in Panama City
Safety
Panama City has a safety score of 48/100. Safety is one of the factors to consider when comparing living costs and choosing a city.
Healthcare
Healthcare in Panama City is rated 68/100. Healthcare access and medical costs can affect the total monthly budget for residents and families.
Climate
The climate index for Panama City is 68/100. Climate and seasonal conditions can influence housing, transport and lifestyle expenses.
Purchasing Power
Panama City has a purchasing power score of 60/100. Comparing salary levels with living expenses provides a better picture of affordability than looking at rent alone.
Living in Panama City
Cost of Living for Students
Students should budget for accommodation, food, transportation, utilities and study expenses. Shared housing and public transportation may reduce monthly expenses.
Cost of Living for Expats
Expats considering Panama City should compare rent, healthcare, transportation, taxes, groceries and salary levels before relocating.
Cost of Living for Remote Workers
Remote workers can compare housing, transportation, internet, food and purchasing power to estimate whether Panama City fits their monthly budget.
Is Panama City Affordable?
Affordability depends on income and housing choices. The cost index of 52provides a useful benchmark when comparing Panama City with other cities.
Key Cost of Living Facts for Panama City
- Average Monthly Cost
- $1,700
- Cost Index
- 52
- Rent Index
- 48
- Average Net Salary
- $1,200
- Quality of Life
- 66/100
- Safety
- 48/100
- Healthcare
- 68/100
- Currency
- USD
Frequently Asked Questions About Panama City
What is the cost of living in Panama City?
The estimated cost of living in Panama City, Panama, is approximately $1,700 per month for one person. This estimate includes major living expenses such as housing, food, transportation and utilities.
How much is rent in Panama City?
A one-bedroom apartment outside the center costs approximately $580 per month, while a one-bedroom apartment in the center costs about $900.
Is Panama City expensive to live in?
Panama City has a cost index of 52 compared with New York City's benchmark of 100. The overall affordability depends on housing, salary and lifestyle.
What is the average salary in Panama City?
The average net salary in Panama City is approximately $1,200 per month.
Is Panama City good for expats?
Expats should evaluate housing, salaries, transportation, healthcare, safety and quality of life before deciding whether Panama City is suitable for relocation.