Cost of Living in Panama

"Our situation on isla Solarte in Bocas is such that we can live comfortable spending $1500 a month. Renting an apartment in town and riding a bicycle can produce a similar situation. I have older, single friends who live in town who spend much less than we do," explained one expat living in Bocas del Toro.

"We do fine with $2000/monthly for everything. But, no mortgage, car payment, credit card bills..," said one expat in Taboga Island.

"The cost of living in Panama is generally considered to be very affordable. Groceries, rent, utilities, healthcare and other necessities are typically more affordable than in many other countries. The cost of dining out, entertainment, and other services is also competitive. Panama is a great option for those looking to live comfortably and keep their cost of living low," wrote a person living in Panama.

"I suppose for normal people (unlike me) you'd best have a couple thousand dollars per month," explained one expat living in Las Tablas.

"A couple (renting) can live in a condo and a very comfortable lifestyle, eating out a time or two a week, for $2-2.5K/ month in this area or less depending on where you live. We are pretty spoiled," said one in Nueva Gorgona.

"Living in Panama can be an affordable option compared to the United States, particularly for those who keep budgets tight. Costs of everyday items, such as food and transportation, are typically much lower than what is found in the U.S., allowing residents to enjoy a more modest lifestyle. Rent and utilities are usually more affordable in Panama as well, making it a great option for those who don't want to spend too much on housing. Choosing to live in Panama can also be a major money-saver if one takes advantage of the country's abundant health care opportunities," explained one expat living in Panama.

"Monthly rental is $905.00 per month cheaper. Housing here is between $600 $700 for two bedrooms. There are real estate people here who will find a house or apartment for you. Be prepared, every local has his hand out. Everyone from the cab drivers to our exterminator will offer to find a house for you. They have contacts and get commissions. But make no mistake, the Panamanians are all good-hearted and mean well. Sometimes strike gold," explained one expat.

"Our housing costs are about a third of what we spend in the US. You can get a nice simple apartment for 300 and up or a home for 500 and up. We live on an island so you are never far from the ocean,," said one person in Bocas del Toro.

"Our rent (including electric, gas and high-speed internet) is less than half of just our mortgage in S. Florida. Tip: if internet is important to you, don't ask, "do you have internet" since everyone can get it. Ask, "what speed internet can I get and how much does it cost?" We pay about $50 for 5G megs mo. Five minutes away it is $150 for 1meg," remarked one expat in Boquete.

"The cost of housing in Panama tends to vary depending on the location and type of property. Generally speaking, prices for apartments or condos range from moderate to expensive, with smaller units costing significantly less than luxury homes. On average, rental fees in urban locations can start as low as $500 while more upscale dwellings can range up to over $2,000 per month," explained one expat living in Panama.

"Actually, they are comparable! I came here from living in Phoenix for the last year. Had to be very fiscally conservative there-just another victim of the economic debacle-and so I am prepared to continue this ecomically challenged life-style. It is what it is! Panama offers such an amazing variety of natural riches,that I feel quite wealthy! And grateful for this opportunity to live a different kind of life and blessed to be here," said one expat in Panama City.

"The rental price for a nice 1 bedroom apartment in Panama is generally in the range of $500 to $800 per month, while a nice 2 bedroom apartment can typically be rented in the range of $800 to $1200 per month," said one expat living in Panama.

"There are homes available for lower rents in Gorgona but I'm in a condo on the beach and that is the market I’m familiar with. Furnished two bedroom, two bathroom rentals along the beach in a condo usually run from $900 to $2,000 and above. Many rents include WiFi, electricity, gas, water, trash collection. Be sure to know what is included," mentioned one expat in Nueva Gorgona.

"Rental properties in Panama commonly include kitchen appliances such as refrigerator, oven and stove, common laundry appliances such as washer and dryer, air conditioning units, fans and window screens to keep out insects, and occasionally furnishings, depending on the agreement between the tenant and the landlord. Additionally, it is common practice for landlords to provide households with basic, essential utilities such as water, electricity and internet," said an expat in Panama.