Cost of Living in Panama City, Panama
Panama City is a modern, cosmopolitan hub with dollar economy, territorial tax system, and excellent international connectivity.
Cost Breakdown
| Category | Monthly Cost (USD) |
|---|---|
| 1BR Apartment (City Center) | $900 |
| 1BR Apartment (Outside Center) | $550 |
| Inexpensive Restaurant Meal | $6 |
| Mid-Range Restaurant (2 people) | $18 |
| Monthly Transit Pass | $25 |
| Utilities (Electricity, Water, etc.) | $80 |
| Internet (60 Mbps+) | $30 |
| Groceries (Monthly) | $200 |
| Total Estimated Monthly Cost | $1,415 |
Tips for Living in Panama City
- Dollar economy — no currency risk
- Territorial tax system attracts entrepreneurs
- Casco Viejo for charming historic living
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Compare Panama City With Other Cities
See how Panama City stacks up against other popular destinations in south-america and beyond.
Frequently Asked Questions
How much does it cost to live in Panama City?
The estimated monthly cost of living in Panama City is approximately $1,415 USD, including rent ($900 for a 1BR in city center), groceries ($200), utilities ($80), and a monthly transit pass ($25).
How much is rent in Panama City?
Rent in Panama City ranges from $550/month (outside city center) to $900/month (city center) for a one-bedroom apartment.
Is Panama City safe to live in?
Panama City has a safety index of 48/100. Extra caution is recommended, especially at night and in unfamiliar areas.
What is the average salary in Panama City?
The average monthly net salary in Panama City is approximately $1,200 USD. Cost of living at ~$1,415/month means the ratio is tight for locals.