Lagos vs Panama City - Cost of Living Comparison

Updated: March 02, 2025

	Lagos	Panama City
🚶 Cost of living one person	$1113	$1479
👨‍👩‍👧‍👦 Cost of living Family	$3096	$3609
🏠 One person rent	$598	$846
🏘️ Family rent	$1649	$1592
🍽️ Food expenses	$280	$440
🚐 Transport expenses	$183	$83
💳 Monthly salary after tax	$162	$967
😷 Air quality	Moderate	Good
✈️ Airport proximity	17 km	7 km
🎓 Higher education	47	42
😀 Quality of life	40	67
🏙️ Population	15.1M	881K

The cost of living in Lagos is 25% less expensive than in Panama City. Cities ranked 4761st and 3517th ($1113 vs $1479) in the list of the most expensive cities in the world and ranked 3rd and 1st in Nigeria and Panama, respectively. Check Nigeria vs Panama comparison.

The average after-tax salary is enough to cover living expenses for 0.1 months in Lagos compared to 0.7 months in Panama City. Lagos ranked 1st best city to live in Nigeria vs Panama City ranked 1st in Panama, while ranked 6935th and 3734th among best cities to live in the world.

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the estimated difference in money purchasing power

Cost of living in Lagos vs Panama City infographic

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Prices in Lagos vs Panama City

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

	Lagos	Panama City
Eating Out
🍱 Lunch Menu	$2.72	$10.4
🥂 Dinner in a Restaurant, for 2	$49.5	$48.5
🥪 Fast food meal, equiv. McDonald's	$8.3	$8.06
🍻 Beer in a Pub, 0.5 L or 16 fl oz	$0.78	$2.97
☕ Cappuccino	$2.15	$3.99
🥤 Pepsi / Coke, 0.5 L or 16.9 fl oz	$0.37	$1.66
Rent & Utilities
🏙️ 1 bedroom apartment in Downtown, 40 m2 or 430 ft2	$870	$891
🏡 Cheap 1 bedroom apartment, 40 m2 or 430 ft2	$451	$681
🏙️ 3 bedroom apartment in Downtown, 80 m2 or 860 ft2	$2294	$1749
🏡 Cheap 3 bedroom apartment, 80 m2 or 860 ft2	$1391	$1344
🔌 Utility Bill one person, electricity, heating, water, etc.	$28.2	$78
🔌 Utility Bill for a Family, electricity, heating, water, etc.	$42.8	$121
🌐 Internet plan, 50 Mbps+ 1 month unlimited	$34.8	$45.4
🏦 Mortgage Interest Rate for 20 Years	16.28%	6.28%
🏙️ Apartment price to Buy in city Center, 1 m2 or 10 ft2	$1797	$2551
🏡 House price to Buy in Suburbs, 1 m2 or 10 ft2	$1310	$1632
Transportation
🚌 Local transport ticket	$0.65	$0.42
🎟️ Monthly ticket local transport	$36.1	$23.2
🚕 Taxi Ride, 8 km or 5 mi	$18.7	$14.3
⛽ Gas / Petrol, 1 L or 0.26 gal	$0.74	$0.96
Groceries
🥛 Milk, 1 L or 1 qt	$2.69	$1.8
🍞 Bread, 0.5 kg or 1.1 lb	$1.47	$2.19
🍚 Rice, 1 kg or 2.2 lb	$2.03	$2.33
🥚 Eggs, x12	$1.96	$2.77
🧀 Cheese, 1 kg or 2.2 lb	$5.75	$12.4
🐔 Chicken Breast, 1 kg or 2.2 lb	$4.68	$7.09
🥩 Round Steak, 1 kg or 2.2 lb	$5.01	$9.99
🍏 Apples, 1 kg or 2.2 lb	$3.68	$3.44
🍌 Banana, 1 kg or 2.2 lb	$2.42	$1.58
🍊 Oranges, 1 kg or 2.2 lb	$1.9	$2.89
🍅 Tomato, 1 kg or 2.2 lb	$2.38	$2.94
🥔 Potato, 1 kg or 2.2 lb	$2.12	$2.23
🧅 Onion, 1 kg or 2.2 lb	$1.9	$2.8
🌊 Water, 1 L or 1 qt	$0.32	$1.07
🍹 Coca-Cola / Pepsi, 2 L or 67.6 fl oz	$0.56	$2.31
🍾 Wine (mid-priced), 750 mL bottle	$4.82	$10
🍺 Beer, 0.5 L or 16 fl oz	$0.76	$1.29
🚬 Cigarette pack	$1.28	$5.98
💊 Cold medicince, 1 week	$1.45	$11.7
🧴 Hair Shampoo	$1.15	$7.94
🧻 Toilet paper, 4 rolls	$0.46	$3.37
👄 Toothpaste, 1 tube	$0.5	$3.71
Other
🏋️ Gym Membership, 1 month	$31.3	$45.3
🎫 Cinema Ticket, 1 person	$6.43	$7.22
👩‍⚕️ Doctor's visit	$11.1	$54.5
💇 Haircut, simple	$2.24	$12.9
👖 Brand Jeans	$22.1	$56.8
👟 Brand Sneakers	$64.8	$93.2
👶 Daycare or Preschool, 1 month	$83.2	$477
🏫 International Primary School, 1 year	$2289	$13616

Cost of living in other countries

Cost of living

$349

$907

$6.64K

Cost of Living in the nearest cities

Cities near Lagos

Distance	City	Cost of living
78 km or 48 mi	Abeokuta	$1030
87 km or 54 mi	Porto-Novo	$670
109 km or 68 mi	Cotonou	$709
120 km or 74 mi	Ibadan	$776
165 km or 102 mi	Oyo	$677
171 km or 106 mi	Ife	$779
176 km or 109 mi	Abomey	$590
195 km or 121 mi	Osogbo	$695
203 km or 126 mi	Save	$613
217 km or 135 mi	Akure	$634
239 km or 148 mi	Ado Ekiti	$666
243 km or 151 mi	Lome	$755
245 km or 152 mi	Benin	$558
254 km or 158 mi	Owo	$651
261 km or 162 mi	Ilorin	$535
278 km or 173 mi	Atakpame	$647
280 km or 174 mi	Warri	$881
310 km or 193 mi	Kpalime	$632
324 km or 201 mi	Ho	$354
332 km or 206 mi	Hohoe	$575
355 km or 221 mi	Sotouboua	$649
375 km or 233 mi	Onitsha	$972
376 km or 234 mi	Sokode	$651
388 km or 241 mi	Tema	$553
389 km or 242 mi	Ashaiman	$560
406 km or 252 mi	Awka	$805
407 km or 253 mi	Koforidua	$588
408 km or 253 mi	Accra	$729
416 km or 258 mi	Owerri	$1611
422 km or 262 mi	Kara	$658
441 km or 274 mi	Port Harcourt	$679
452 km or 281 mi	Enugu	$462
463 km or 288 mi	Umuahia	$883
463 km or 288 mi	Aba	$621
495 km or 307 mi	Minna	$743
536 km or 333 mi	Abuja	$1502
555 km or 345 mi	Kumasi	$433
562 km or 350 mi	Obuasi	$551
570 km or 354 mi	Calabar	$384
572 km or 356 mi	Tamale	$507

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