How much does it cost to live in Panama in 2026?
As an October 2026 estimate, one person in Panama City needs roughly $1,200 to $1,750 a month for rent, food and transport. A couple needs about $1,550 to $2,200 before health coverage, and costs vary by city and neighborhood.
Panama uses the US dollar, so no conversion is needed. Prices come from Numbeo's crowd-sourced data for Panama City, updated 5 October 2026, unless noted.
Rent: a one-bedroom outside central Panama City averaged about $874 a month. In the center it was about $1,263. In Boquete, a one-bedroom outside the center was about $700, but only 9 contributors supplied that city's data.
Food: Numbeo's minimum grocery budget for Panama as a whole was about $324 per person a month. We allow up to about $450 if you eat out often. Transport: a Panama City monthly transit pass was $21.
Health: these totals exclude coverage. We could not verify an official price for public coverage open to new foreign residents. Price a private plan before you move. Utilities in Panama City averaged about $131 a month, also extra.
Totals: rent, food and transport come to about $1,200 to $1,750 for one person and $1,550 to $2,200 for a couple. Phone and leisure are extra. Numbeo put non-rent spending for one person in Panama City at about $857.
Sovereo Index: See Panama's full country profile: score, rank, pillar scores and nearby alternatives.
Sources
- Cost of Living in Panama City · Numbeo
- Cost of Living in Boquete · Numbeo
- Food Prices in Panama · Numbeo
Written and reviewed by Todd Allyn, Founder, Sovereo Intelligence Research
Facts checked Oct 13, 2026 · Next review by Jan 13, 2027
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