Cost of Living in Panama

Updated: July 01, 2025

If you've ever considered moving to Panama, one of the first questions that likely crossed your mind is, "What is the cost of living in Panama?" After all, it's essential to have a clear picture of your potential expenses before making such a life-changing decision. At this page, we'll dive into the nitty-gritty of the cost of living in Panama and whether the reported $1897 per month figure aligns with the average monthly salary of $713.04.

Restaurants

Markets

Transportation

Childcare

Clothing

Rent Per Month

Buy Apartment

Salaries

Panama

restaurant Restaurants	Price	World Range
Meal, Inexpensive Restaurant	7.0 $
Meal for 2 People, Mid-range Restaurant, Three-course	47.5 $
McMeal at McDonalds (or Equivalent Combo Meal)	7.0 $
Domestic Beer (1 pint draught)	2.0 $
Imported Beer (12 oz small bottle)	3.5 $
Cappuccino (regular)	3.05 $
Coke/Pepsi (12 oz small bottle)	1.5 $
Water (12 oz small bottle)	1.17 $

store Markets	Price	World Range
Milk (regular), (1 gallon)	1.57 $
Loaf of Fresh White Bread (1 lb)	2.05 $
Rice (white), (1 lb)	1.9 $
Eggs (regular) (12)	2.08 $
Local Cheese (1 lb)	8.81 $
Chicken Fillets (1 lb)	6.48 $
Beef Round (1 lb) (or Equivalent Back Leg Red Meat)	7.66 $
Apples (1 lb)	2.79 $
Banana (1 lb)	1.26 $
Oranges (1 lb)	2.41 $
Tomato (1 lb)	2.76 $
Potato (1 lb)	1.89 $
Onion (1 lb)	1.92 $
Lettuce (1 head)	1.62 $
Water (1.5 liter bottle)	1.48 $
Bottle of Wine (Mid-Range)	9.0 $
Domestic Beer (0.5 liter bottle)	1.1 $
Imported Beer (12 oz small bottle)	1.79 $
Cigarettes 20 Pack (Marlboro)	5.75 $

commute Transportation	Price	World Range
One-way Ticket (Local Transport)	0.35 $
Monthly Pass (Regular Price)	30.0 $
Taxi Start (Normal Tariff)	2.0 $
Taxi 1 mile (Normal Tariff)	2.0 $
Taxi 1hour Waiting (Normal Tariff)	15.0 $
Gasoline (1 gallon)	1.03 $
Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car)	24000.0 $
Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car)	19163.33 $

mark_as_unread Utilities (Monthly)	Price	World Range
Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment	84.12 $
1 min. of Prepaid Mobile Tariff Local (No Discounts or Plans)	0.17 $
Internet (60 Mbps or More, Unlimited Data, Cable/ADSL)	43.73 $

kitesurfing Sports And Leisure	Price	World Range
Fitness Club, Monthly Fee for 1 Adult	36.03 $
Tennis Court Rent (1 Hour on Weekend)	29.55 $
Cinema, International Release, 1 Seat	5.5 $

child_friendly Childcare	Price	World Range
Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child	332.27 $
International Primary School, Yearly for 1 Child	9555.56 $

checkroom Clothing And Shoes	Price	World Range
1 Pair of Jeans (Levis 501 Or Similar)	45.72 $
1 Summer Dress in a Chain Store (Zara, H&M, ...)	40.0 $
1 Pair of Nike Running Shoes (Mid-Range)	69.65 $
1 Pair of Men Leather Business Shoes	82.5 $

night_shelter Rent Per Month	Price	World Range
Apartment (1 bedroom) in City Centre	738.09 $
Apartment (1 bedroom) Outside of Centre	428.33 $
Apartment (3 bedrooms) in City Centre	1291.94 $
Apartment (3 bedrooms) Outside of Centre	825.79 $

home Buy Apartment Price	Price	World Range
Price per Square Feet to Buy Apartment in City Centre	1865.81 $
Price per Square Feet to Buy Apartment Outside of Centre	1212.81 $

account_balance_wallet Salaries And Financing	Price	World Range
Average Monthly Net Salary (After Tax)	713.04 $
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate	5.81 %

Dining Out

The cost of dining varies with the type of establishment. A meal at an affordable restaurant averages around 7.0 USD, while a three-course dinner for two at a mid-range restaurant generally costs 47.5 USD.

Groceries

Basic grocery prices are accessible for most essentials. For instance, a gallon of milk costs about 1.57 USD, a loaf of bread 2.05 USD, and a dozen eggs approximately 2.08 USD.

Transportation

Public transport is relatively affordable, with a single trip priced at about 0.35 USD and a monthly pass around 30.0 USD. If you plan to use public transit regularly, these passes offer great value.

Utilities

For an 85 m² apartment, monthly utility bills—including electricity, heating, water, and waste services—average around 84.12 USD.

Sports and Recreation

For those interested in fitness and leisure, a monthly gym membership averages around 36.03 USD, while an hour on a tennis court on weekends costs about 29.55 USD.

Childcare and Education

Families looking for private childcare services will find that a month at a local preschool or kindergarten costs around 332.27 USD. For international schooling options, annual tuition can reach approximately 9555.56 USD.

Clothing and Footwear

Clothing and shoe prices vary widely. A pair of Levi's 501 jeans, for example, costs about 45.72 USD, and mid-range Nike sneakers are priced around 69.65 USD.

Apartment Rentals

Rental prices depend on location, with a one-bedroom apartment in the city center averaging 738.09 USD per month, while one outside the center costs around 428.33 USD.

Real Estate for Purchase

If you're considering buying property, prices per square foot vary as well. In central areas, the price per square foot is roughly 1865.81 USD, while in the suburbs, it's closer to 1212.81 USD.

Average Salary and Mortgage Rates

The average monthly net salary here is about 713.04 USD after taxes, and mortgage interest rates for a 20-year fixed-rate loan average around 5.81% annually.

Warnings & Dangers in Panama

OVERALL RISK: MEDIUM

Panama is generally safe, but you should take precaution on the streets of major cities, and after dark. Be wary of pickpockets and bear in mind that mugging and violent crime are also part of this country's street life.

TRANSPORT & TAXIS RISK: MEDIUM

Public transport is generally safe in Panama, but do be careful on buses and bus stops since that's where pickpockets and petty thieves operate. Bear in mind that bus stations tend to be high crime areas, and whenever possible opt for calling a taxi instead of hailing one on the street.

PICKPOCKETS RISK: HIGH

Pickpockets are a common occurrence on the streets of Panama and tourists are recommended to remain vigilant at all times when on the street. Make sure you don't flash your valuables on the street, be careful when withdrawing money from ATMs and of course, keep all your valuables in a safe place in your accommodation or safely by your side.

NATURAL DISASTERS RISK: MEDIUM

Ocean currents, hurricanes, earthquakes, and floods are only some of the natural disasters that sometimes hit Panama.

MUGGING RISK: MEDIUM

Violent crime exists in Panama and mugging and kidnapping isn't uncommon on the streets of Panama. In such a situation, hand over all your possessions immediately and do not resist. Avoid poorly lit and deserted areas.

TERRORISM RISK: LOW

Although there haven't been any terrorist attacks in Panama's recent history, they shouldn't be ruled out so remain vigilant at all times.

SCAMS RISK: MEDIUM

Scams are very common in Panama, so double check your change, never pay anything upfront and negotiate everything in advance. Watch out for people sending you free drinks and never leave your drink unattended.

WOMEN TRAVELERS RISK: LOW

Traveling to Panama is generally safe for solo women, but bear in mind that you should generally hike and explore in a company, never alone. Stay away from poorly lit and deserted streets and areas and from people that are visibly intoxicated or under the influence

Cost of Living in Panama

Panama

Restaurants

Markets

Transportation

Utilities (Monthly)

Sports And Leisure

Childcare

Clothing And Shoes

Rent Per Month

Buy Apartment Price

Salaries And Financing