Cost of Living in Panama
Panama offers a diverse cost of living that typically ranges from affordable rural lifestyles to more premium urban living in Panama City. While basic services and local products are generally economical, costs for electricity and imported goods may be higher than expected for the region.
Overview text is model-generated; see the note below.
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Monthly Cost Estimate
excluding rent
including 1-bedroom rent
Single person in Panama. Totals are the sum of the category ranges below (low ends added together, high ends added together), so a real budget usually falls somewhere in between.
Cost Breakdown by Category
Housing & Rent
$500 – $1,100
Monthly rent for a 1-bedroom apartment, typically ranging from city center to suburban areas.
Food & Groceries
$350 – $550
Grocery essentials and modest dining out at local 'fondas' or mid-range restaurants.
Transportation
$60 – $150
Public transportation (Metro/Bus) and occasional rideshare services like Uber.
Utilities
$90 – $180
Electricity, water, garbage collection, and high-speed fiber internet.
Healthcare
$60 – $150
Private health insurance premiums or out-of-pocket costs at private clinics.
Entertainment
$150 – $300
Gym memberships, cinema tickets, and social activities.
Build your own monthly budget
Starts at the midpoint of each estimate for Panama. Type your own amounts to see your total and annual figure. Nothing you enter is saved or sent anywhere.
Estimate: $500 – $1,100
Estimate: $350 – $550
Estimate: $60 – $150
Estimate: $90 – $180
Estimate: $60 – $150
Estimate: $150 – $300
Yearly: $1,820 × 12 = $21,840. Excludes taxes, debt payments, savings, childcare, education, car ownership and one-off costs such as deposits or moving.
New to ranges? Read how to turn these estimates into a personal budget.
Comfortable Living
Estimated monthly spending for a comfortable lifestyle in Panama, with regular dining out and leisure:
Including rent • Single person • Excludes income tax and savings • A separate model estimate, not derived from the category totals above
Frequently Asked Questions about Panama
The first answer is calculated from the figures on this page. The others are model-generated text; answers that quoted older dollar figures are hidden so they cannot contradict the totals above.