Cost of living in Panama City

🇵🇦 Panama · A realistic 2026 budget for newcomers — rent, food, transport, and what a month actually costs.

Wondering how far your salary goes in Panama City? Here’s what everyday life costs, in local prices — the numbers that matter when you’re deciding to move or negotiating a package.

What things cost

One-bed apartment, city (Área Bancaria / Avenida Balboa)USD 900–1,600 / month
Metro and Metrobus monthly≈USD 30–50 / month
Groceries, one personUSD 350–550 / month
Ceviche from the fish marketUSD 2–4
CoffeeUSD 2.00–4.50

Good to know

Population
≈1.1 million (city); ≈2 million (metro)
Languages
Spanish; English common in banking, law and the former Canal Zone
Currency
US dollar — the balboa is pegged 1:1 and circulates only as coins
Time zone
EST (GMT−5); no daylight saving
Power plug
Type A/B, 120 V / 60 Hz — identical to the US
Climate
Tropical — dry season December–April, heavy rains May–November
Driving side
Right
Tax system
Territorial — foreign-source income generally untaxed

Some of this may be out of date. Spotted something inaccurate? Help us keep it right for the next newcomer.

A note on budgeting

Rent is usually the swing factor — location and whether bills are included move the number most. Build your estimate from the rent band above, add a monthly living figure, and keep a buffer for one-off setup costs (deposits, a residence permit, a local SIM, first-month transport). Globe Quest turns this into a personalized Panama City checklist so nothing setup-related catches you off guard.

Plan your move to Panama City

A free, AI-personalized plan — the language, culture, and setup steps timed to your move date.