Incheon vs Panama City - Cost of Living Comparison

Updated: March 02, 2025

	Incheon	Panama City
🚶 Cost of living one person	$1092	$1479
👨‍👩‍👧‍👦 Cost of living Family	$2890	$3609
🏠 One person rent	$493	$846
🏘️ Family rent	$1030	$1592
🍽️ Food expenses	$420	$440
🚐 Transport expenses	$95	$83
💳 Monthly salary after tax	$2433	$967
😷 Air quality	Moderate	Good
✈️ Airport proximity	16 km	7 km
🎓 Higher education	91	42
😀 Quality of life	94	67
🏙️ Population	2.94M	881K

The cost of living in Incheon is 26% less expensive than in Panama City. Cities ranked 4880th and 3517th ($1092 vs $1479) in the list of the most expensive cities in the world and ranked 17th and 1st in South Korea and Panama, respectively. Check South Korea vs Panama comparison.

The average after-tax salary is enough to cover living expenses for 2.2 months in Incheon compared to 0.7 months in Panama City. Incheon ranked 2nd best city to live in South Korea vs Panama City ranked 1st in Panama, while ranked 45th and 3734th among best cities to live in the world.

Salary adjustment calculator
the estimated difference in money purchasing power

Cost of living in Incheon vs Panama City infographic

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Prices in Incheon vs Panama City

Prices for goods and services in Incheon and Panama City are partly crowdsourced by our visitors, just like yourself. Please consider telling us about your city.

	Incheon	Panama City
Eating Out
🍱 Lunch Menu	$6.25	$10.4
🥂 Dinner in a Restaurant, for 2	$34.8	$48.5
🥪 Fast food meal, equiv. McDonald's	$5.53	$8.06
🍻 Beer in a Pub, 0.5 L or 16 fl oz	$2.78	$2.97
☕ Cappuccino	$3.35	$3.99
🥤 Pepsi / Coke, 0.5 L or 16.9 fl oz	$1.25	$1.66
Rent & Utilities
🏙️ 1 bedroom apartment in Downtown, 40 m2 or 430 ft2	$595	$891
🏡 Cheap 1 bedroom apartment, 40 m2 or 430 ft2	$331	$681
🏙️ 3 bedroom apartment in Downtown, 80 m2 or 860 ft2	$1305	$1749
🏡 Cheap 3 bedroom apartment, 80 m2 or 860 ft2	$761	$1344
🔌 Utility Bill one person, electricity, heating, water, etc.	$92.7	$78
🔌 Utility Bill for a Family, electricity, heating, water, etc.	$143	$121
🌐 Internet plan, 50 Mbps+ 1 month unlimited	$16.6	$45.4
🏦 Mortgage Interest Rate for 20 Years	4.13%	6.28%
🏙️ Apartment price to Buy in city Center, 1 m2 or 10 ft2	$6378	$2551
🏡 House price to Buy in Suburbs, 1 m2 or 10 ft2	$6335	$1632
Transportation
🚌 Local transport ticket	$0.99	$0.42
🎟️ Monthly ticket local transport	$25	$23.2
🚕 Taxi Ride, 8 km or 5 mi	$7.89	$14.3
⛽ Gas / Petrol, 1 L or 0.26 gal	$1.15	$0.96
Groceries
🥛 Milk, 1 L or 1 qt	$2.08	$1.8
🍞 Bread, 0.5 kg or 1.1 lb	$2.88	$2.19
🍚 Rice, 1 kg or 2.2 lb	$2.82	$2.33
🥚 Eggs, x12	$3	$2.77
🧀 Cheese, 1 kg or 2.2 lb	$13	$12.4
🐔 Chicken Breast, 1 kg or 2.2 lb	$6.39	$7.09
🥩 Round Steak, 1 kg or 2.2 lb	$12.9	$9.99
🍏 Apples, 1 kg or 2.2 lb	$7.16	$3.44
🍌 Banana, 1 kg or 2.2 lb	$2.82	$1.58
🍊 Oranges, 1 kg or 2.2 lb	$5.37	$2.89
🍅 Tomato, 1 kg or 2.2 lb	$6.06	$2.94
🥔 Potato, 1 kg or 2.2 lb	$3.25	$2.23
🧅 Onion, 1 kg or 2.2 lb	$1.86	$2.8
🌊 Water, 1 L or 1 qt	$0.65	$1.07
🍹 Coca-Cola / Pepsi, 2 L or 67.6 fl oz	$4.02	$2.31
🍾 Wine (mid-priced), 750 mL bottle	$15.8	$10
🍺 Beer, 0.5 L or 16 fl oz	$1.85	$1.29
🚬 Cigarette pack	$3.18	$5.98
💊 Cold medicince, 1 week	$4	$11.7
🧴 Hair Shampoo	$6.04	$7.94
🧻 Toilet paper, 4 rolls	$2.94	$3.37
👄 Toothpaste, 1 tube	$1.97	$3.71
Other
🏋️ Gym Membership, 1 month	$31	$45.3
🎫 Cinema Ticket, 1 person	$10.3	$7.22
👩‍⚕️ Doctor's visit	$27.8	$54.5
💇 Haircut, simple	$7.01	$12.9
👖 Brand Jeans	$57.7	$56.8
👟 Brand Sneakers	$63	$93.2
👶 Daycare or Preschool, 1 month	$255	$477
🏫 International Primary School, 1 year	$18156	$13616

Cost of living in other countries

Cost of living

$349

$907

$6.64K

Cost of Living in the nearest cities

Cities near Incheon

Distance	City	Cost of living
12 km or 7.8 mi	Bucheon	$1163
19 km or 12 mi	Gimpo	$1099
19 km or 12 mi	Gwangmyeong	$1089
22 km or 14 mi	Ansan	$1070
26 km or 16 mi	Anyang	$1022
27 km or 17 mi	Goyang	$1171
28 km or 18 mi	Gunpo	$1098
30 km or 19 mi	Gwacheon	$1070
31 km or 19 mi	Hwaseong	$1089
31 km or 19 mi	Uiwang	$1063
34 km or 21 mi	Seoul	$1334
38 km or 23 mi	Suwon	$1022
42 km or 26 mi	Siheung	$1283
43 km or 27 mi	Seongnam	$1400
44 km or 27 mi	Paju	$1075
46 km or 29 mi	Guri	$1122
47 km or 29 mi	Uijeongbu	$955
50 km or 31 mi	Yangju	$974
51 km or 31 mi	Hanam	$1161
51 km or 32 mi	Osan	$1042
53 km or 33 mi	Namyangju	$1129
54 km or 34 mi	Gwangju	$1165
55 km or 34 mi	Yongin	$1127
57 km or 35 mi	Kaesong	$1565
62 km or 38 mi	Dongducheon	$1055
63 km or 39 mi	Dangjin	$1033
65 km or 40 mi	Pyeongtaek	$984
68 km or 42 mi	Pocheon	$1040
73 km or 45 mi	Icheon	$1020
75 km or 47 mi	Anseong	$1026
78 km or 48 mi	Seosan	$1036
86 km or 53 mi	Cheonan	$1151
89 km or 56 mi	Yeoju	$1026
104 km or 64 mi	Haeju	$1550
106 km or 66 mi	Chuncheon	$865
113 km or 70 mi	Wonju	$1074
118 km or 74 mi	Cheongju	$936
120 km or 74 mi	Gongju	$1038
122 km or 76 mi	Sejong	$1019
126 km or 78 mi	Boryeong	$1063

Cities near Panama City

Distance	City	Cost of living
8.1 km or 5 mi	Balboa	$1328
16 km or 9.9 mi	Tocumen	$1310
26 km or 16 mi	Pacora	$1304
34 km or 21 mi	La Chorrera	$957
59 km or 37 mi	Colon	$1172
108 km or 67 mi	Penonome	$1116
154 km or 96 mi	Chitre	$1117
190 km or 118 mi	Santiago de Veraguas	$1089
321 km or 199 mi	Turbo	$664
329 km or 204 mi	David	$890
398 km or 247 mi	Monteria	$645
403 km or 250 mi	Limon	$1225
406 km or 252 mi	Santa Cruz de Lorica	$669
452 km or 281 mi	Sincelejo	$524
463 km or 288 mi	Cartagena	$760
483 km or 300 mi	Quibdo	$705
494 km or 307 mi	Cartago	$1024
513 km or 319 mi	San Jose	$1324
518 km or 322 mi	Heredia	$1296
521 km or 324 mi	Magangue	$604
526 km or 327 mi	Bello	$839
529 km or 329 mi	Alajuela	$1269
530 km or 329 mi	Medellin	$906
534 km or 332 mi	Envigado	$897
558 km or 347 mi	Soledad	$741
559 km or 348 mi	Barranquilla	$773
595 km or 370 mi	Puntarenas	$801
617 km or 383 mi	Cartago	$649
617 km or 383 mi	Cienaga	$742
623 km or 387 mi	Manizales	$653
627 km or 390 mi	Santa Teresa	$1213
627 km or 390 mi	Pereira	$680
631 km or 392 mi	Santa Marta	$837
632 km or 393 mi	Buenaventura	$742
636 km or 395 mi	Minca	$759
651 km or 404 mi	Salento	$605
652 km or 405 mi	Armenia	$598
657 km or 408 mi	Tulua	$513
658 km or 409 mi	Barrancabermeja	$1031
675 km or 419 mi	Liberia	$932