Cost of Living in Panama

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

"The cost of living in Panama is not as low as it once was (we have heard) but is still lower than the US. There is no way we could afford to rent a condo right on the beach in the US for what we are paying here. We knew there would be adjustments but it has been easier than we anticipated in part due to the strong expat community. No expectations means no disappointment," remarked one in Nueva Gorgona.

"Its not as cheap as I thought it would be. Food is the same or more. Restaurants are cheaper. Transport much cheaper. Clothing and appliances are probably cheaper in US. We have better sales in US," explained one expat.

"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," said one person in Panama.

"We paid cash so no mortgage which is great. The prices, as mentioned above, have risen. The medical, however, is great. I spent 4 nights in a private room with round the clock care and paid $1,800 for everything," remarked one expat in Taboga Island.

"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," said one expat in Panama.

"Average home would probably go for 150K to 250K, depending on location and how modern it is. Depends on what you are looking for. Take the time to do your research with various real estate companies. You can pay beaucoup the bucks for waterfront mansions," remarked one in Coronado.

"About rents that is one big advantage of Panama. Rents have sky-rocketed in the USA but they are still reasonable here. You do need to do some looking. I would recommend staying in an airbnb place for a couple of weeks in the area that you like so you can take your time looking for a place to rent, If you are going to rent long term it is probably cheaper to buy your own furniture and rent an unfurnished place," explained one expat.

"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 person in Panama City.

"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," remarked one expat in Alto Boquete.

"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," wrote an expat living in Nueva Gorgona.

"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 an expat in Panama.

"In the furnished condos along the beach, kitchens have all appliances.. these include refrigerator, stove and microwave, many even have washers/dryers, dishwashers, and garbage disposals. They are often furnished with toasters, blenders, coffee makers and other small kitchen appliances and table service too. Units usually have air conditioners too. It's a good idea to check the kitchen out thoroughly and see what is there," remarked one expat living in Nueva Gorgona.