Cost of living in Panama

Summary of cost of living in Panama

  • Family of four estimated monthly costs: 3,370 B/.
  • Single person estimated monthly costs: 1,727 B/.
  • Panama is the 4th most expensive country in Latin America (4 out of 16)
  • Cost of living in Panama is cheaper than in 55% of countries in the World (37 out of 67)
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Basic lunchtime menu (including a drink) in the business district 14 B/.
Combo meal in fast food restaurant (big mac meal or similar) 8 B/.
500 gr (1 lb.) of boneless chicken breast 3.71 B/.
1 liter (1 qt.) of whole fat milk 2.12 B/.
12 eggs, large 3.17 B/.
1 kg (2 lb.) of tomatoes 2.51 B/.
500 gr (16 oz.) of local cheese 7 B/.
1 kg (2 lb.) of apples 2.92 B/.
1 kg (2 lb.) of potatoes 2.14 B/.
0.5 l (16 oz) domestic beer in the supermarket 1.29 B/.
1 bottle of red table wine, good quality 13 B/.
2 liters of coca-cola 2.55 B/.
Bread for 2 people for 1 day 1.70 B/.
Monthly rent for 85 m2 (900 sqft) furnished accommodation in expensive area 1,450 B/.
Monthly rent for 85 m2 (900 sqft) furnished accommodation in normal area 852 B/.
Utilities 1 month (heating, electricity, gas ...) for 2 people in 85m2 flat 147 B/.
Monthly rent for a 45 m2 (480 sqft) furnished studio in expensive area 939 B/.
Monthly rent for a 45 m2 (480 sqft) furnished studio in normal area 939 B/.
Utilities 1 month (heating, electricity, gas ...) for 1 person in 45 m2 (480 sqft) studio 89 B/.
Internet 8 mbps (1 month) 43 B/.
40” flat screen tv 346 B/.
Microwave 800/900 watt (bosch, panasonic, lg, sharp, or equivalent brands) 98 B/.
Laundry detergent (3 l. ~ 100 oz.) 7 B/.
Hourly rate for cleaning help 4.70 B/.
1 pair of jeans (levis 501 or similar) 49 B/.
1 summer dress in a high street store (zara, h&m or similar retailers) 33 B/.
1 pair of sport shoes (nike, adidas, or equivalent brands) 87 B/.
1 pair of men’s leather business shoes 79 B/.
Volkswagen golf 1.4 tsi 150 cv (or equivalent), with no extras, new 20,405 B/.
1 liter (1/4 gallon) of gas 1.35 B/.
Monthly ticket public transport 31 B/.
Personal Care
Cold medicine for 6 days (tylenol, frenadol, coldrex, or equivalent brands) 7 B/.
1 box of antibiotics (12 doses) 17 B/.
Short visit to private doctor (15 minutes) 28 B/.
1 box of 32 tampons (tampax, ob, ...) 5.50 B/.
Deodorant, roll-on (50ml ~ 1.5 oz.) 3.42 B/.
Hair shampoo 2-in-1 (400 ml ~ 12 oz.) 7 B/.
4 rolls of toilet paper 3.52 B/.
Tube of toothpaste 3.31 B/.
Standard men's haircut in expat area of the city 15 B/.
Basic dinner out for two in neighborhood pub 34 B/.
2 tickets to the movies 13 B/.
2 tickets to the theater (best available seats) 36 B/.
Dinner for two at an italian restaurant in the expat area including appetisers, main course, wine and dessert 58 B/.
1 cocktail drink in downtown club 10 B/.
Cappuccino in expat area of the city 5.48 B/.
1 beer in neighbourhood pub (500ml or 1pt.) 2.83 B/.
Ipad wi-fi 128gb 663 B/.
1 min. of prepaid mobile tariff (no discounts or plans) 0.29 B/.
1 month of gym membership in business district 49 B/.
1 package of marlboro cigarettes 5.65 B/.

Moving to Panama with your children?

International Schools in Panama

Map of Cost of Living in Panama


This map shows only the top cities in Panama. We also have on this page a list of all the cities available in Expatistan:
List of all the cities available in Expatistan

The color of each marker corresponds with the cost of living in the city red markers show more expensive cities green ones show cheaper cities
Moving the mouse on top of a city will show its name and the Cost of Living Index of that city.

What is the Cost of Living Index? To calculate each city's Price Index value, we start by assigning a value of 100 to a central reference city (that happens to be Prague). Once the reference point has been established, the Price Index value of every other city in the database is calculated by comparing their cost of living to the cost of living in Prague.
Therefore, if a city has a Price Index of 134, that means that living there is 34% more expensive than living in Prague.

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List of all cities available in Panama

Colón Coronado, Panama David
Las Tablas Panama City

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