Capital city, Panama
Cost of living in Panama City
How much a month costs in Panama City
For one person, including rent. A comfortable month costs about $2,000–3,000 ($2,000–3,000).
Prices in Panama City
Typical 2026 ranges in USD, rounded. US$ at the 03 Oct 2026 exchange rate.
| Item | USD | US$ |
|---|---|---|
| Housing | ||
| 1-bedroom apartment, center (month) | $900–1,700 | $900–1,700 |
| 1-bedroom apartment, outside center (month) | $600–1,100 | $600–1,100 |
| Hostel dorm bed (night) | $12–25 | $12–25 |
| Mid-range hotel room (night) | $70–140 | $70–140 |
| Food and drink | ||
| Local meal or street food | $4–8 | $4–8 |
| Mid-range restaurant, per person | $15–30 | $15–30 |
| Cappuccino | $3–5 | $3–5 |
| Local beer, 0.5 l in a bar | $3–6 | $3–6 |
| Getting around | ||
| Public transport, one ride | $0–1 | $0–1 |
| Ride-hailing or taxi, about 5 km | $4–8 | $4–8 |
| Work and life | ||
| Coworking day pass | $15–30 | $15–30 |
| Gym membership (month) | $35–80 | $35–80 |
| Mobile data, 20–50 GB (month) | $15–30 | $15–30 |
Value for money: 25/100
A value score of 25/100 means Panama City gives more quality of life per dollar than 24% of the 1,319 places we cover. Quality here scores 64/100. It's the 6th most affordable of 6 places we cover in Panama.
| Quality factor | Score |
|---|---|
| Safety | |
| Air quality | |
| Internet | |
| Healthcare | |
| Weather | |
| Friendly locals | |
| English |
Cost of living across Panama
One person, comfortable lifestyle, including rent.
| Place | Comfortable month | Value |
|---|---|---|
| Santa Catalina | $1,200–1,800 | 72/100 |
| Boquete | $1,300–2,000 | 67/100 |
| Bocas del Toro | $1,500–2,300 | 44/100 |
| Pedasí | $1,500–2,300 | 52/100 |
| San Blas Islands | $1,500–2,500 | 47/100 |
| Panama City | $2,000–3,000 | 25/100 |
Cheaper alternatives to Panama City
Similar safety, lower cost, in Mexico & Central America.
| Place | Country | Comfortable month |
|---|---|---|
| Semuc Champey | Guatemala | $458–720 |
| Ometepe | Nicaragua | $679–1,140 |
| León | Nicaragua | $679–1,140 |
| Guanajuato | Mexico | $988–1,540 |
| Granada | Nicaragua | $815–1,360 |
Quick answers
How much money do you need per month in Panama City?
About $1,100–1,600 on a lean budget, $2,000–3,000 for a comfortable month and $3,800–6,000 for a luxury one, rent included.
How much is rent in Panama City?
A furnished 1-bedroom apartment costs $900–1,700 ($900–1,700) a month in the center and $600–1,100 ($600–1,100) outside it.
How much does food cost in Panama City?
A local meal is $4–8 ($4–8); a mid-range restaurant is $15–30 ($15–30) per person.
Is Panama expensive?
Prices in Panama are about 45% of US price levels (World Bank PPP).
More about Panama City
Going to Panama City solo?
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Sources
- ExchangeRate-API open rates
- World Bank: PPP conversion factor
- Metro de Panamá
- Tocumen International Airport
- Panama Tourism Authority (ATP)
Prices are SoloSquare estimates for 2026, reviewed against official and operator prices where available. Compiled and reviewed by SoloSquare. How we compile and score this. Spotted something out of date? Tell us.