Whether you're living in Panama or planning to move there, it is very important to know the cost of living and the prices of things. Here we list the average spending for the three main population groups.

All-inclusive

1,700 PAB

average per month

430 PAB

Range

3,600 PAB

3,200 PAB

average per month

640 PAB

Range

5,100 PAB

5,100 PAB

average per month

1,500 PAB

Range

7,700 PAB

1,300 PAB

average per month

210 PAB

Range

2,800 PAB

The figures displayed here are inclusive of everything: housing, travel, groceries, healthcare, etc.

The average monthly expenses for a single person living in Panama is 1,700 PAB. Expenses can range from 430 PAB at the minimum level to 3,600 PAB at the highest end.

The average monthly spending of couples in Panama is 3,200 PAB. Expenditure can range from 640 PAB to 5,100 PAB per month.

The average cost of living for families in Panama is 5,100 PAB per month. Families spend anywhere from 1,500 PAB to 7,700 PAB.

The average monthly expenditure for students in Panama is 1,300 PAB. Students spend from 210 PAB to 2,800 PAB per month.

Spending behavior can change drastically from one person to another. It is best to consider the minimum, average, and maximum spending together.

of water

0.43 PAB

0.43 PAB

0.43 PAB

combo meal

4.3 PAB

3.0 PAB

7.1 PAB

meal for one

14 PAB

11 PAB

18 PAB

meal for one

35 PAB

24 PAB

43 PAB

Soft Drink

0.35 PAB

0.35 PAB

0.35 PAB

or latte

2.8 PAB

1.8 PAB

4.3 PAB

large bottle

2.1 PAB

1.8 PAB

2.4 PAB

bread

0.30 PAB

0.27 PAB

0.35 PAB

eggs

2.1 PAB

1.8 PAB

2.7 PAB

chicken

5.0 PAB

3.9 PAB

6.1 PAB

1 kg or 1 lb

5.6 PAB

4.7 PAB

7.1 PAB

1 kg or 1 lb

3.0 PAB

2.7 PAB

3.6 PAB

1 kg or 1 lb

1.4 PAB

1.2 PAB

1.8 PAB

1 kg or 1 lb

1.5 PAB

1.3 PAB

1.6 PAB

1 kg or 1 lb

1.5 PAB

1.3 PAB

1.6 PAB

taxi ride

2.1 PAB

1.8 PAB

4.3 PAB

full tank

14 PAB

11 PAB

28 PAB

1-day rental

14 PAB

11 PAB

21 PAB

price

11,000 PAB

5,300 PAB

14,000 PAB

one way

0.53 PAB

0.35 PAB

1.1 PAB

Service

21 PAB

14 PAB

43 PAB

and water bill

100 PAB

26 PAB

220 PAB

and water bill

130 PAB

32 PAB

260 PAB

and water bill

200 PAB

45 PAB

230 PAB

and cable

21 PAB

11 PAB

28 PAB

charges

14 PAB

8.5 PAB

43 PAB

ticket

7.1 PAB

5.3 PAB

11 PAB

membership

21 PAB

17 PAB

43 PAB

or pants

18 PAB

13 PAB

27 PAB

dress

16 PAB

12 PAB

53 PAB

shoes

15 PAB

11 PAB

35 PAB

shoes

12 PAB

9.7 PAB

24 PAB

suit

13 PAB

11 PAB

71 PAB

t-shirt

7.1 PAB

5.3 PAB

21 PAB

apartment

270 PAB

180 PAB

710 PAB

apartment

430 PAB

270 PAB

1,100 PAB

apartment

530 PAB

350 PAB

1,400 PAB

apartment

53,000 PAB

35,000 PAB

110,000 PAB

apartment

71,000 PAB

43,000 PAB

270,000 PAB

apartment

210,000 PAB

71,000 PAB

430,000 PAB

Bed

270 PAB

210 PAB

350 PAB

Bed

210 PAB

140 PAB

270 PAB

Bed

160 PAB

130 PAB

210 PAB

Room

300 PAB

240 PAB

1,100 PAB

Table

140 PAB

110 PAB

270 PAB

or Couch

190 PAB

140 PAB

430 PAB

Set

210 PAB

140 PAB

430 PAB

or Freezer

190 PAB

130 PAB

270 PAB

Machine

240 PAB

160 PAB

430 PAB

or Cooker

190 PAB

150 PAB

270 PAB

Phone

210 PAB

180 PAB

300 PAB

or Computer

240 PAB

190 PAB

430 PAB

The percentage figures in this section are percentages of total spending not income. If you would like to see the percentage of expenses as related to income or salary, see additional sections below.

SingleSpending habits, consumption analysis, and expenditure patterns for a single person living in Panama

36% of total expenses on average (27% to 42%)

LOW | 150 PAB |

AVERAGE | 610 PAB |

HIGH | 1,300 PAB |

Per Month |

6% of total expenses on average (2% to 9%)

LOW | 26 PAB |

AVERAGE | 100 PAB |

HIGH | 220 PAB |

Per Month |

8% of total expenses on average (3% to 11%)

LOW | 34 PAB |

AVERAGE | 140 PAB |

HIGH | 290 PAB |

Per Month |

16% of total expenses on average (9% to 22%)

LOW | 68 PAB |

AVERAGE | 270 PAB |

HIGH | 580 PAB |

Per Month |

9% of total expenses on average (5% to 14%)

LOW | 38 PAB |

AVERAGE | 150 PAB |

HIGH | 330 PAB |

Per Month |

5% of total expenses on average (2% to 9%)

LOW | 21 PAB |

AVERAGE | 85 PAB |

HIGH | 180 PAB |

Per Month |

2% of total expenses on average (1% to 4%)

LOW | 8.5 PAB |

AVERAGE | 34 PAB |

HIGH | 72 PAB |

Per Month |

18% of total expenses on average (15% to 21%)

LOW | 77 PAB |

AVERAGE | 310 PAB |

HIGH | 650 PAB |

Per Month |

CoupleAverage monthly living expenditure breaks and spending patterns for couples in Panama

33% of total expenses on average (30% to 43%)

LOW | 210 PAB |

AVERAGE | 1,100 PAB |

HIGH | 1,700 PAB |

Per Month |

5% of total expenses on average (2% to 8%)

LOW | 32 PAB |

AVERAGE | 130 PAB |

HIGH | 260 PAB |

Per Month |

12% of total expenses on average (7% to 15%)

LOW | 77 PAB |

AVERAGE | 380 PAB |

HIGH | 610 PAB |

Per Month |

14% of total expenses on average (7% to 19%)

LOW | 89 PAB |

AVERAGE | 450 PAB |

HIGH | 710 PAB |

Per Month |

11% of total expenses on average (5% to 14%)

LOW | 70 PAB |

AVERAGE | 350 PAB |

HIGH | 560 PAB |

Per Month |

6% of total expenses on average (3% to 10%)

LOW | 38 PAB |

AVERAGE | 190 PAB |

HIGH | 310 PAB |

Per Month |

2% of total expenses on average (1% to 4%)

LOW | 13 PAB |

AVERAGE | 64 PAB |

HIGH | 100 PAB |

Per Month |

17% of total expenses on average (14% to 20%)

LOW | 110 PAB |

AVERAGE | 540 PAB |

HIGH | 870 PAB |

Per Month |

FamilyAverage monthly expenses and break out of spending for families living in Panama

32% of total expenses on average (27% to 38%)

LOW | 480 PAB |

AVERAGE | 1,600 PAB |

HIGH | 2,500 PAB |

Per Month |

3% of total expenses on average (2% to 7%)

LOW | 45 PAB |

AVERAGE | 200 PAB |

HIGH | 230 PAB |

Per Month |

8% of total expenses on average (5% to 10%)

LOW | 120 PAB |

AVERAGE | 410 PAB |

HIGH | 610 PAB |

Per Month |

18% of total expenses on average (12% to 23%)

LOW | 270 PAB |

AVERAGE | 920 PAB |

HIGH | 1,400 PAB |

Per Month |

8% of total expenses on average (6% to 12%)

LOW | 120 PAB |

AVERAGE | 410 PAB |

HIGH | 610 PAB |

Per Month |

5% of total expenses on average (2% to 9%)

LOW | 74 PAB |

AVERAGE | 260 PAB |

HIGH | 380 PAB |

Per Month |

14% of total expenses on average (11% to 18%)

LOW | 210 PAB |

AVERAGE | 710 PAB |

HIGH | 1,100 PAB |

Per Month |

12% of total expenses on average (8% to 15%)

LOW | 180 PAB |

AVERAGE | 610 PAB |

HIGH | 920 PAB |

Per Month |

StudentCost of living and expense breaks for students in Panama

24% of total expenses on average (18% to 31%)

LOW | 51 PAB |

AVERAGE | 310 PAB |

HIGH | 660 PAB |

Per Month |

4% of total expenses on average (3% to 7%)

LOW | 8.5 PAB |

AVERAGE | 51 PAB |

HIGH | 110 PAB |

Per Month |

7% of total expenses on average (5% to 9%)

LOW | 15 PAB |

AVERAGE | 89 PAB |

HIGH | 190 PAB |

Per Month |

20% of total expenses on average (16% to 24%)

LOW | 43 PAB |

AVERAGE | 260 PAB |

HIGH | 550 PAB |

Per Month |

6% of total expenses on average (3% to 9%)

LOW | 13 PAB |

AVERAGE | 77 PAB |

HIGH | 170 PAB |

Per Month |

5% of total expenses on average (2% to 9%)

LOW | 11 PAB |

AVERAGE | 64 PAB |

HIGH | 140 PAB |

Per Month |

19% of total expenses on average (17% to 24%)

LOW | 40 PAB |

AVERAGE | 240 PAB |

HIGH | 530 PAB |

Per Month |

15% of total expenses on average (12% to 17%)

LOW | 32 PAB |

AVERAGE | 190 PAB |

HIGH | 410 PAB |

Per Month |

This section breaks down and compares expenses for all population groups: singles, couples, students, and families. If you want to see details for a specific group, please see the previous section. We asked thousands of people about their spending habits and expenditure breaks. Below are the results.

People living in Panama typically spend from 26% to 39% of their total monthly expenditure on housing with 31% being the average. The average spend on housing is 900 PAB with expenditure ranging from 220 PAB and 1,500 PAB. This cost mainly goes for rent but it also includes other accommodation-related expenses. Housing costs are highest for families and lowest for students as expected.

On average, utility expenditure like electricity, water, and gas in Panama ranges from 2% to 8% of total expenses with 5% being the the average. The average monthly cost of utilities is 120 PAB with 28 PAB and 200 PAB being the upper and lower limits.

Fuel consumption and cost of transport depend heavily on whether you live near your work or school, but roughly speaking you would expect to spend from 61 PAB to 430 PAB on commuting with 250 PAB being the norm for most people in one month. This means that money spent on transport constitutes about 9% of total spending on average but can go as low as 5% or as high as 11%.

The average outlay on groceries in a month in Panama is 470 PAB. The cost of groceries can range between 120 PAB to 810 PAB. People spend on average about 17% on food and groceries with upper and lower bounds of 11% and 17% respectively.

People in Panama allocate 5% to 12% of their total monthly expenditure to healthcare including health insurance and out-of-pocket medical expenses. The average spending is around 9%. The range of medical expenses range from 60 PAB to 420 PAB with 250 PAB being the norm.

This category mostly contains discretionary or non-essential expenses but also some non-discretionary spending like furniture for example. The monthly expenses range from 36 PAB to 250 PAB with 150 PAB being the average. Speaking of percentages, that equates to 2% to 9% of total expenses with an average of 5% for most residents.

Spending on education can vary drastically between different people. While working singles can spend 0% on education, families and students' expenditure can reach up to 22%. On average, education constitutes 9% of the monthly expenditure with 8% and 13% being the lower and upper bounds respectively. The average reported education cost is 260 PAB per month with 68 PAB being the minimum spent amount and 440 PAB being the maximum.