Cost of Living in Panama City, Panama

Panama City has a cost of living index of 55/100 (New York = 100). It is 45% cheaper than New York. Data sourced live via AI — updated regularly.

55/100
Cost Index
$1,200/mo
Median Income
62/100
Safety Index
tropical
Climate

Cost Breakdown by Category

HousingScore: 55/100
1-Bed Apartment (City Center)$1,200/month
1-Bed Apartment (Outside Center)$980/month
3-Bed Apartment (City Center)$1,950/month
Food & GroceriesScore: 50/100
Milk (1 liter)$1.3/liter
Bread (500g loaf)$0.8/loaf
Rice (1 kg)$1.5/kg
Dining OutScore: 52/100
Meal at Inexpensive Restaurant$12/meal
Meal for 2 (Mid-Range)$50/meal
McMeal at McDonald's$8/meal
TransportationScore: 48/100
Monthly Transit Pass$30/month
One-Way Ticket$0.35/trip
Taxi (1 km)$1/km
UtilitiesScore: 50/100
Basic (Elec, Heat, Water, Garbage) 85m2$120/month
Internet (60+ Mbps)$40/month
Mobile Plan (10GB+)$25/month
HealthcareScore: 65/100
Doctor Visit (15 min)$40/visit
Dentist Visit$60/visit
Prescription Medicine (avg)$12/course
EntertainmentScore: 52/100
Cinema Ticket (1 seat)$7/ticket
Theater Ticket$30/ticket
Museum Entry$10/ticket
FitnessScore: 50/100
Gym Membership (monthly)$40/month
Tennis Court Rent (1 hr)$18/hour
Swimming Pool (adult entry)$6/entry
Personal CareScore: 48/100
Haircut (Men)$15/cut
Haircut (Women)$35/cut
Shampoo (400ml)$4.5/bottle
ClothingScore: 52/100
Jeans (Levi's or similar)$55/pair
Summer Dress (Zara/H&M)$35/piece
Running Shoes (Nike/Adidas)$80/pair

Digital Nomad Profile

95 Mbps
Internet Speed
$250
Coworking/Month
good
Café WiFi
moderate
English Level
large
Nomad Community
72/100
Walkability

Best neighborhoods: Casco Viejo, El Cangrejo, Punta Pacifica

Frequently Asked Questions

Is Panama City cheap to live in?

Panama City has a cost of living index of 55/100, where New York = 100. It is 45% cheaper than New York. A single person can live comfortably for approximately $1,100–$1,540 per month.

How much does rent cost in Panama City?

A 1-bedroom apartment in the city center of Panama City costs approximately $1,200/month. Outside the center, expect to pay around $980/month.

Is Panama City good for digital nomads?

Panama City has a large digital nomad community. Average internet speed is 95 Mbps, café wifi reliability is good, and coworking spaces run about $250/month. English proficiency is moderate.

What is the average salary in Panama City?

The median net monthly salary in Panama City is approximately $1,200 USD. The income tax rate is around 15%.

How does Panama City compare to New York for cost of living?

Panama City (cost index 55) is 45% cheaper than New York (cost index 100). You could save roughly $1,125/month by moving from New York to Panama City.

Compare Panama City with another city

See exactly how Panama City stacks up against your current city or next destination.

Compare Panama City →Explore another city

Free to start · No credit card needed