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Cost of living
in Panama City.

Living in Panama City, Panama costs about $1,650/month all-in for one person, and roughly $3,795/month for a family of four. That is cheaper than 50% of the 310 cities we track, and about 58% below New York.

Last updated August 2026 · How we calculate this

Single person, all-in $1,650/mo
Rent (studio)$743
Food & groceries$363
Utilities & internet$165
Transport$132
Fun & everything else$248
Family of four$3,795/mo
How it ranks

Cheaper than 50% of the 310 cities we track.

About 58% cheaper than New York.

Population 408k
Moving to Panama? Full guide → Your take-home pay here → Salary you'd need here → Can I afford it? → What the move itself costs →

Figures are average all-in monthly costs for one person, in USD — estimates for guidance, not a personal budget. The breakdown is a typical split of the total. Convert to your currency →

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Living in Panama City — FAQ

How much does it cost to live in Panama City?

A single person needs roughly $1,650/month all-in in Panama City, Panama — rent, food, transport and utilities. A family of four runs closer to $3,795/month.

Is Panama City expensive?

Panama City is cheaper than 50% of the 310 cities we track, and about 58% cheaper than New York.

Similar cost of living

See the whole world by cost →

🇵🇹 Porto $1,650🇪🇸 Seville $1,650🇪🇸 Alicante $1,650🇮🇹 Palermo $1,650🇨🇱 Santiago $1,650🇵🇹 Funchal $1,600🇵🇹 Faro $1,600🇪🇸 Granada $1,600