Summary of The Cost of Living in Panama, Panama
• The average monthly cost of living for a single person in Panama is $2,025.00 including rent, or $1,175.00 excluding rent.
• The average monthly cost of living for a couple (2 adults) in Panama is $2,775.50 including rent, or $1,925.50 excluding rent.
• The average monthly cost of living for a family of four (2 adults + 2 children) in Panama is $3,839.00 including rent, or $2,734.00 excluding rent.
• The average yearly cost of living in Panama ranges from $24,300.00 for a single person to $33,306.00 for a couple, and $46,068.00 for a family of four, including rent. Excluding rent, the yearly range is $14,100.00 for a single person to $23,106.00 for a couple, and $32,808.00 for a family of four.
• For budget-conscious living in Panama, baseline monthly expenses range from $1,011.00 for a single person to $1,350.20 for a couple, and $1,870.70 for a family of four, including rent. Excluding rent, the range is $511.00 for a single person to $850.20 for a couple, and $1,220.70 for a family of four.
• For comfortable/luxury living in Panama, estimated monthly expenses range from $4,248.00 for a single person to $5,929.40 for a couple, and $8,164.40 for a family of four, including rent. Excluding rent, the range is $2,748.00 for a single person to $4,429.40 for a couple, and $6,214.40 for a family of four.
• The average monthly salary for a person in Panama is $1,750.00, which is 48.9% more than the average monthly cost of living and 242.5% more than the budget cost of living for a single person, excluding rent.
Cost of Living Details
| Category | Subcategory | Description | Cost Range (Monthly) |
|---|---|---|---|
| Monthly rent for your primary residence (apartments, houses, condos) | |||
| Monthly electricity bill | |||
| Monthly running water bill | |||
| Monthly broadband internet subscription with unlimited data and cable TV | |||
| Monthly gas and heating expenses | |||
| Monthly mobile phone plan with data and calling | |||
| Monthly food and grocery expenses | |||
| Monthly expenses for basic household supplies and personal hygiene items (toiletries, cleaning supplies, and paper products) | |||
| Monthly transportation costs (public transit, vehicle ownership, or ride-sharing) | |||
| Monthly expenses for movies, coffee, drinks, and social activities (excluding shopping & dining) | |||
| Monthly expenses for clothing, shoes, and accessories | |||
| Monthly health insurance cost | |||
| Monthly prescription medications and pharmacy expenses | |||
| Monthly doctor visits and dental care expenses | |||
| Monthly gym membership | |||
| Monthly expenses for laundry and housekeeping services | |||
| Monthly expenses for food and basic care per pet (grooming, veterinary visits, treats, and medications) | |||
| Monthly childcare and school fees | |||
| Total (selected items only) | |||
Expense Distribution
Salary Info
| Category | Subcategory | Description | Salary Range (Monthly) |
|---|---|---|---|
| Salary | Salary | Monthly salary (full-time) |