Living in Panama City
Cost of Living, Safety & Expat Guide (2026)
Country
Panama
Monthly Cost
$1,948
Internet
120 Mbps
Safety
5.4/10
Rent (1BR)
$1,320
Living in Panama City — Quick Take
Best for: Those open to trade-offs
Cost level: Moderate ($1,948/mo)
Main downside: Requires neighborhood research
Quick Facts
$1,948/mo
Moderate5.4/10
Variable120 Mbps
Fast$1,320
Mid-range$980/mo
1.1M
Major CityMonthly Living Cost Breakdown
Who Is Panama City For?
Most remote workers find the setup here manageable.
Mid-range costs—not rock-bottom, but not painful either.
The cost and security balance could work for retirees.
Similar vibe? Check out Selfoss.
Best Neighborhoods in Panama City
4 neighborhoods rated for expats and digital nomads — Casco Viejo tops the list at /10
UNESCO-listed old town with colonial architecture, boutique hotels, rooftop bars, and a vibrant mix of culture and nightlife.
Neighborhood ratings based on expat livability, cost, and lifestyle fit. Data reflects current conditions in Panama City, Panama.
Pros and Cons of Living in Panama City
Pros
- Reasonable cost of living compared to major Western cities
- Fast internet (120 Mbps) - great for remote work
Cons
- Safety concerns exist - research specific neighborhoods
Job & Income Overview
Avg Local Salary
$980/mo
Salary-to-Rent Ratio
0.7x
Local salaries struggle against housing costs here. International income makes a difference.
Local wages fall short of covering full living costs—most expats have additional income streams.
Cost Insight
Panama City sits in the middle range cost-wise. Affordable without feeling like you're roughing it.
Housing takes up most of your budget here—about 68% of total costs. The rest is relatively cheap.
For comparison, Selfoss runs about $1,670/month—17% less.
Common Questions About Panama City
How much does it cost to live in Panama City?
Expect roughly $1,948 monthly. This includes housing, groceries, transport, and utilities.
Is Panama City safe for expats?
Panama City is variable by neighborhood with a 5.4/10 safety score. Standard precautions apply.
Is Panama City good for remote workers?
With 120 Mbps average speeds, Panama City is excellent for remote work. Coworking options exist.
How much is rent in Panama City?
A 1-bedroom averages $1,320/month. Prices vary by neighborhood and proximity to center.
Calculate Your Cost in Panama City
Get personalized estimates based on your lifestyle
Explore More About Panama City
NomadIQ Score
out of 10
Good
Quick Stats
Safety Score
5.4/10
Internet Speed
120 Mbps
Monthly Cost
$1,948
Explore Similar Cities
Final Thoughts
Panama City is a solid choice for those seeking a change of scenery looking to relocate abroad. With a monthly cost of living around $1,948, a safety score of 5.4/10, and internet speeds of 120 Mbps, the city offers a balanced package for international residents. Whether you're drawn by the culture, the cost savings, or the lifestyle opportunities, Panama City deserves a spot on your shortlist. We recommend visiting for a few weeks before making a long-term commitment to ensure it aligns with your personal and professional needs.
Data sources include public cost-of-living datasets, user-reported data, and internal analysis. Last updated: September 2026.
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