Cost of living in Panama City, Panama

Summary of cost of living in Panama City

  • Family of four estimated monthly costs: 3,476 B/.
  • Single person estimated monthly costs: 1,759 B/.
  • Cost of living in Panama City is more expensive than in 88% of cities in Latin America (5 out of 32)
  • Cost of living in Panama City is cheaper than in 62% of cities in the World (122 out of 196)
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List of prices in Panama City
Current as of Dec 2023.

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Food Update prices
Basic lunchtime menu (including a drink) in the business district 15 B/.
Combo meal in fast food restaurant (big mac meal or similar) 8 B/.
500 gr (1 lb.) of boneless chicken breast 3.60 B/.
1 liter (1 qt.) of whole fat milk 2.14 B/.
12 eggs, large 3.07 B/.
1 kg (2 lb.) of tomatoes 2.33 B/.
500 gr (16 oz.) of local cheese 7 B/.
1 kg (2 lb.) of apples 2.95 B/.
1 kg (2 lb.) of potatoes 2.08 B/.
0.5 l (16 oz) domestic beer in the supermarket 1.34 B/.
1 bottle of red table wine, good quality 14 B/.
2 liters of coca-cola 2.54 B/.
Bread for 2 people for 1 day 1.60 B/.
Housing Update prices
Monthly rent for 85 m2 (900 sqft) furnished accommodation in expensive area 1,477 B/.
Monthly rent for 85 m2 (900 sqft) furnished accommodation in normal area 881 B/.
Utilities 1 month (heating, electricity, gas ...) for 2 people in 85m2 flat 188 B/.
Monthly rent for a 45 m2 (480 sqft) furnished studio in expensive area 1,040 B/.
Monthly rent for a 45 m2 (480 sqft) furnished studio in normal area 600 B/.
Utilities 1 month (heating, electricity, gas ...) for 1 person in 45 m2 (480 sqft) studio 88 B/.
Internet 8 mbps (1 month) 43 B/.
40” flat screen tv 351 B/.
Microwave 800/900 watt (bosch, panasonic, lg, sharp, or equivalent brands) 99 B/.
Laundry detergent (3 l. ~ 100 oz.) 9 B/.
Hourly rate for cleaning help 4.57 B/.
Clothes Update prices
1 pair of jeans (levis 501 or similar) 54 B/.
1 summer dress in a high street store (zara, h&m or similar retailers) 37 B/.
1 pair of sport shoes (nike, adidas, or equivalent brands) 90 B/.
1 pair of men’s leather business shoes 86 B/.
Transportation Update prices
Volkswagen golf 1.4 tsi 150 cv (or equivalent), with no extras, new 19,852 B/.
1 liter (1/4 gallon) of gas 1.20 B/.
Monthly ticket public transport 32 B/.
Taxi trip on a business day, basic tariff, 8 km. (5 miles) 8 B/.
Personal Care Update prices
Cold medicine for 6 days (tylenol, frenadol, coldrex, or equivalent brands) 8 B/.
1 box of antibiotics (12 doses) 22 B/.
Short visit to private doctor (15 minutes) 49 B/.
1 box of 32 tampons (tampax, ob, ...) 7 B/.
Deodorant, roll-on (50ml ~ 1.5 oz.) 4.03 B/.
Hair shampoo 2-in-1 (400 ml ~ 12 oz.) 7 B/.
4 rolls of toilet paper 3.45 B/.
Tube of toothpaste 3.63 B/.
Standard men's haircut in expat area of the city 17 B/.
Entertainment Update prices
Basic dinner out for two in neighborhood pub 36 B/.
2 tickets to the movies 14 B/.
2 tickets to the theater (best available seats) 45 B/.
Dinner for two at an italian restaurant in the expat area including appetisers, main course, wine and dessert 57 B/.
1 cocktail drink in downtown club 10 B/.
Cappuccino in expat area of the city 5.71 B/.
1 beer in neighbourhood pub (500ml or 1pt.) 2.84 B/.
Ipad wi-fi 128gb 680 B/.
1 min. of prepaid mobile tariff (no discounts or plans) 0.32 B/.
1 month of gym membership in business district 51 B/.
1 package of marlboro cigarettes 5.90 B/.
These prices are based on abundant and consistent data. They are very reliable. They are based on 538 prices entered by 57 different people.
Latest price update: December 02, 2023

Moving to Panama City with your children?

International Schools in Panama City

Panama City position in our World Ranking

the world
122nd
out of 196
latin america
5th
out of 32

Cheapest and most expensive products in Panama City compared to other cities:

latin america
2nd
latin america
3rd
latin america
3rd
latin america
4th
latin america
4th
latin america
4th

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Prices recently added

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  • Basic lunchtime menu (including a drink) in the business district in Arlington, Texas costs $15 (about 4 hours ago)
  • 1 lb of boneless chicken breast in Santa Ana, California costs $3.30 (about 4 hours ago)
  • Basic lunchtime menu (including a drink) in the business district in Seattle, Washington costs $40 (about 6 hours ago)

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