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Cost of Living in Panama City

Panama

Summary

Cost of living in Panama City, Panama is $1,772 and it seems affordable according to the average monthly salary which is $2,075. For more living costs insights, check the list of prices for Restaurants, Markets, Transportation, Utilities, and 40 more categories.

$1,772
Cost of Living
$2,075
Average Salary
$1,179
Average House Rent

Rent Per Month

Name
Price
Apartment (1 bedroom) in City Centre
$907.48
Apartment (1 bedroom) Outside of Centre
$759.1
Apartment (3 bedrooms) in City Centre
$1,609.02
Apartment (3 bedrooms) Outside of Centre
$1,534.03

Salaries And Financing

Name
Price
Average Monthly Net Salary (After Tax)
$2,075.27
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate
%4.05

Utilities (Monthly)

Name
Price
Basic (Electricity, Heating, Cooling, Water, Garbage) for 85m2 Apartment
$166.8
1 min. of Prepaid Mobile Tariff Local (No Discounts or Plans)
$0.1
Internet (60 Mbps or More, Unlimited Data, Cable/ADSL)
$64.75

Markets

Name
Price
Milk (regular), (1 liter)
$0.82
Loaf of Fresh White Bread (500g)
$2.23
Eggs (regular) (12)
$1.98
Local Cheese (1kg)
$7.94
Water (1.5 liter bottle)
$2.12
Bottle of Wine (Mid-Range)
$10.16
Domestic Beer (0.5 liter bottle)
$1.88
Imported Beer (0.33 liter bottle)
$2.25
Cigarettes 20 Pack (Marlboro)
$5.46
Apples (1kg)
$5.41
Chicken Breasts (Boneless, Skinless), (1kg)
$8.52
Oranges (1kg)
$4.82
Potato (1kg)
$2.75
Lettuce (1 head)
$1.52
Rice (white), (1kg)
$3.9
Tomato (1kg)
$3.9
Banana (1kg)
$1.32
Onion (1kg)
$2.46
Beef Round (1kg) (or Equivalent Back Leg Red Meat)
$8.62

Transportation

Name
Price
One-way Ticket (Local Transport)
$2
Monthly Pass (Regular Price)
$34.17
Gasoline (1 liter)
$0.65
Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car)
$25,327.67
Taxi Start (Normal Tariff)
$2.67
Taxi 1km (Normal Tariff)
$1.28
Taxi 1hour Waiting (Normal Tariff)
$20.2
Toyota Corolla 1.6l 97kW Comfort (Or Equivalent New Car)
$20,815.23

Clothing And Shoes

Name
Price
1 Pair of Jeans (Levis 501 Or Similar)
$36.36
1 Summer Dress in a Chain Store (Zara, H&M, ...)
$32
1 Pair of Nike Running Shoes (Mid-Range)
$67.5
1 Pair of Men Leather Business Shoes
$81.48

Restaurants

Name
Price
Meal, Inexpensive Restaurant
$13.17
Meal for 2 People, Mid-range Restaurant, Three-course
$42.17
McMeal at McDonalds (or Equivalent Combo Meal)
$6.81
Domestic Beer (0.5 liter draught)
$3.13
Imported Beer (0.33 liter bottle)
$4.38
Coke/Pepsi (0.33 liter bottle)
$1.5
Water (0.33 liter bottle)
$1.47
Cappuccino (regular)
$3.55

Sports And Leisure

Name
Price
Fitness Club, Monthly Fee for 1 Adult
$26.44
Tennis Court Rent (1 Hour on Weekend)
$13
Cinema, International Release, 1 Seat
$9.33

Childcare

Name
Price
Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child
$417.23
International Primary School, Yearly for 1 Child
$11,750

Buy Apartment Price

Name
Price
Price per Square Meter to Buy Apartment in City Centre
$1,619.61
Price per Square Meter to Buy Apartment Outside of Centre
$1,174.52

Frequently Asked Questions

How much does it cost to live in Panama City per month?

The total cost of living is around $1,772 in Panama City. The average rent in Panama City for a one-bedroom apartment in the city centre is approximately $1,179 per month, and utilities cost around $166 a month. Other costs will be around $759 including groceries, transportation, eating out, and sports and leisure for one-person.

Is Panama City expensive to live?

Panama City seems not expensive to live in according to the average monthly salary which is $2,075.

What is the average salary in Panama City?

A person working in Panama City typically earns around $2,075 per month after tax deductions. It is not specific to any particular qualification. $2,075 is a good salary according to average cost of living which is $1,772.

What is the average rent in Panama City?

The average one-bedroom apartment in Panama City city centre stands at around $1,179 per month. If you're okay with an apartment outside of the city centre that will be cost around $987.

What is the cost of groceries in Panama City?

The cost of groceries in Panama City can vary depending on individual preferences and shopping habits. On average, a single person can expect to spend around $292 per month on groceries. However, prices may fluctuate based on factors such as the type of products purchased, the store visited, and any discounts or promotions available.

What is the cost of living in Panama?

The cost of living in Panama varies significantly depending on the specific city you are considering. Relying on a country-wide average may lead to misleading information. For a more accurate assessment, it's essential to explore the cost of living in different cities across Panama