Cost of Living in Panama City, Panama

Last updated on Feb 16, 2023

Summary: The cost of living in Panama City, Panama is generally considered to be quite affordable. A nice 1 bedroom apartment in Panama City can cost anywhere from $500 to $1,000 per month in US Dollars, while a nice 2 bedroom apartment can cost anywhere from $800 to $1,500 per month in US Dollars. The cost of dinner at a moderately priced restaurant in Panama City can range from $10 to $20 per person in US Dollars.

Is the cost of living in Panama City high?

We asked people how much they someone comfortably live on in Panama City, they wrote:

"The cost of living in Panama City is generally considered to be quite affordable. Groceries, transportation, and utilities are all relatively inexpensive compared to other cities in the region. Rent prices can vary depending on the area, but are generally lower than in other major cities. Eating out is also relatively affordable, with many restaurants offering meals for a fraction of the cost of similar restaurants in other countries," said one person in Panama City.

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Joshua Wood, LPC joined Expat Exchange in 2000 and serves as one of its Co-Presidents. He is also one of the Founders of Digital Nomad Exchange. Prior to Expat Exchange, Joshua worked for NBC Cable (MSNBC and CNBC Primetime). Joshua has a BA from Syracuse and a Master's in Clinical and Counseling Psychology from Fairleigh Dickinson University. Mr. Wood is also a licensed counselor and psychotherapist.

Some of Joshua's articles include Pros and Cons of Living in Portugal, 10 Best Places to Live in Ireland and Pros and Cons of Living in Uruguay. Connect with Joshua on LinkedIn.