Medellin vs Panama City - Cost of Living Comparison

Updated: October 10, 2024

	Medellin	Panama City
🚶 Cost of living one person	$873	$1384
👨‍👩‍👧‍👦 Cost of living Family	$2221	$3435
🏠 One person rent	$395	$751
🏘️ Family rent	$782	$1474
🍽️ Food expenses	$264	$444
🚐 Transport expenses	$130	$84.4
💳 Monthly salary after tax	$417	$914
😷 Air quality	Moderate	Good
✈️ Airport proximity	3 km	7 km
🎓 Higher education	67	42
😀 Quality of life	53	66
🏙️ Population	2.53M	881K

The cost of living in Medellin is 37% less expensive than in Panama City. Cities ranked 6207th and 4139th ($873 vs $1384) in the list of the most expensive cities in the world and ranked 2nd and 1st in Colombia and Panama, respectively. Check Colombia vs Panama comparison.

The average after-tax salary is enough to cover living expenses for 0.5 months in Medellin compared to 0.7 months in Panama City. Medellin ranked 2nd best city to live in Colombia vs Panama City ranked 1st in Panama, while ranked 6039th and 3919th among best cities to live in the world.

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Cost of living in Medellin vs Panama City infographic

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Prices in Medellin vs Panama City

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

	Medellin	Panama City
Eating Out
🍱 Lunch Menu	$5.77	$12.3
🥂 Dinner in a Restaurant, for 2	$24	$55.2
🥪 Fast food meal, equiv. McDonald's	$6.82	$7.6
🍻 Beer in a Pub, 0.5 L or 16 fl oz	$1.83	$2.94
☕ Cappuccino	$1.96	$4.25
🥤 Pepsi / Coke, 0.5 L or 16.9 fl oz	$0.98	$1.9
Rent & Utilities
🏙️ 1 bedroom apartment in Downtown, 40 m2 or 430 ft2	$436	$827
🏡 Cheap 1 bedroom apartment, 40 m2 or 430 ft2	$300	$577
🏙️ 3 bedroom apartment in Downtown, 80 m2 or 860 ft2	$864	$1757
🏡 Cheap 3 bedroom apartment, 80 m2 or 860 ft2	$646	$1198
🔌 Utility Bill one person, electricity, heating, water, etc.	$45.7	$76.7
🔌 Utility Bill for a Family, electricity, heating, water, etc.	$70.3	$118
🌐 Internet plan, 50 Mbps+ 1 month unlimited	$21.7	$47.4
🏦 Mortgage Interest Rate for 20 Years	15.54%	6.12%
🏙️ Apartment price to Buy in city Center, 1 m2 or 10 ft2	$1473	$2406
🏡 House price to Buy in Suburbs, 1 m2 or 10 ft2	$1403	$1535
Transportation
🚌 Local transport ticket	$0.72	$0.35
🎟️ Monthly ticket local transport	$43	$26.2
🚕 Taxi Ride, 8 km or 5 mi	$12.7	$13.9
⛽ Gas / Petrol, 1 L or 0.26 gal	$0.98	$1.02
Groceries
🥛 Milk, 1 L or 1 qt	$1.06	$1.78
🍞 Bread, 0.5 kg or 1.1 lb	$1.28	$2.12
🍚 Rice, 1 kg or 2.2 lb	$1.18	$2.08
🥚 Eggs, x12	$2.21	$2.67
🧀 Cheese, 1 kg or 2.2 lb	$5.4	$13.2
🐔 Chicken Breast, 1 kg or 2.2 lb	$5.4	$7.23
🥩 Round Steak, 1 kg or 2.2 lb	$10.2	$10.4
🍏 Apples, 1 kg or 2.2 lb	$2.22	$3.11
🍌 Banana, 1 kg or 2.2 lb	$0.92	$1.54
🍊 Oranges, 1 kg or 2.2 lb	$1.26	$3.09
🍅 Tomato, 1 kg or 2.2 lb	$1.18	$2.94
🥔 Potato, 1 kg or 2.2 lb	$1.07	$2.19
🧅 Onion, 1 kg or 2.2 lb	$1.14	$2.5
🌊 Water, 1 L or 1 qt	$0.53	$1
🍹 Coca-Cola / Pepsi, 2 L or 67.6 fl oz	$1.59	$2.51
🍾 Wine (mid-priced), 750 mL bottle	$10.7	$9.03
🍺 Beer, 0.5 L or 16 fl oz	$1.05	$1.14
🚬 Cigarette pack	$2.18	$5.89
💊 Cold medicince, 1 week	$5.27	$10.5
🧴 Hair Shampoo	$4.2	$6.97
🧻 Toilet paper, 4 rolls	$2.89	$3.12
👄 Toothpaste, 1 tube	$2.22	$3.06
Other
🏋️ Gym Membership, 1 month	$27	$43.8
🎫 Cinema Ticket, 1 person	$4.13	$6.71
👩‍⚕️ Doctor's visit	$35.3	$49.1
💇 Haircut, simple	$8.07	$13.7
👖 Brand Jeans	$56.2	$54.3
👟 Brand Sneakers	$91.7	$90.2
👶 Daycare or Preschool, 1 month	$239	$437
🏫 International Primary School, 1 year	$6129	$9531

Cost of living in other countries

Cost of living

Cost of Living in the nearest cities

Cities near Medellin

Distance	City	Cost of living
8.1 km or 5 mi	Envigado	$871
9.9 km or 6.1 mi	Bello	$789
131 km or 82 mi	Manizales	$653
135 km or 84 mi	Quibdo	$661
160 km or 99 mi	Pereira	$641
171 km or 106 mi	Cartago	$619
179 km or 111 mi	Salento	$562
190 km or 118 mi	Armenia	$541
205 km or 127 mi	Ibague	$501
209 km or 130 mi	Facatativa	$641
212 km or 131 mi	Barrancabermeja	$573
221 km or 137 mi	Zipaquira	$681
232 km or 144 mi	Girardot	$483
239 km or 148 mi	Soacha	$748
242 km or 150 mi	Turbo	$634
246 km or 153 mi	Bogota	$868
250 km or 155 mi	Tulua	$477
257 km or 160 mi	Tunja	$526
282 km or 175 mi	Monteria	$620
285 km or 177 mi	Duitama	$851
288 km or 179 mi	Bucaramanga	$642
289 km or 179 mi	Floridablanca	$584
298 km or 185 mi	Sogamoso	$523
308 km or 192 mi	Buenaventura	$718
312 km or 194 mi	Palmira	$652
318 km or 198 mi	Villavicencio	$475
329 km or 204 mi	Cali	$733
331 km or 206 mi	Ocana	$590
334 km or 208 mi	Santa Cruz de Lorica	$638
340 km or 211 mi	Sincelejo	$506
346 km or 215 mi	Magangue	$582
367 km or 228 mi	Yopal	$687
370 km or 230 mi	Neiva	$520
386 km or 240 mi	Cucuta	$552
387 km or 241 mi	San Antonio del Tachira	$601
391 km or 243 mi	Rubio	$598
406 km or 252 mi	San Cristobal	$592
410 km or 255 mi	Tariba	$598
438 km or 272 mi	Popayan	$462
448 km or 279 mi	La Grita	$617

Cities near Panama City

Distance	City	Cost of living
8.1 km or 5 mi	Balboa	$1249
16 km or 9.9 mi	Tocumen	$1231
26 km or 16 mi	Pacora	$1249
34 km or 21 mi	La Chorrera	$953
59 km or 37 mi	Colon	$1182
108 km or 67 mi	Penonome	$1098
154 km or 96 mi	Chitre	$1091
190 km or 118 mi	Santiago de Veraguas	$1056
321 km or 199 mi	Turbo	$634
329 km or 204 mi	David	$833
398 km or 247 mi	Monteria	$620
403 km or 250 mi	Limon	$1201
406 km or 252 mi	Santa Cruz de Lorica	$638
452 km or 281 mi	Sincelejo	$506
463 km or 288 mi	Cartagena	$748
483 km or 300 mi	Quibdo	$661
494 km or 307 mi	Cartago	$961
513 km or 319 mi	San Jose	$1239
518 km or 322 mi	Heredia	$1246
521 km or 324 mi	Magangue	$582
526 km or 327 mi	Bello	$789
529 km or 329 mi	Alajuela	$1233
530 km or 329 mi	Medellin	$873
534 km or 332 mi	Envigado	$871
558 km or 347 mi	Soledad	$840
559 km or 348 mi	Barranquilla	$789
595 km or 370 mi	Puntarenas	$1277
617 km or 383 mi	Cartago	$619
617 km or 383 mi	Cienaga	$831
623 km or 387 mi	Manizales	$653
627 km or 390 mi	Santa Teresa	$1310
627 km or 390 mi	Pereira	$641
631 km or 392 mi	Santa Marta	$979
632 km or 393 mi	Buenaventura	$718
636 km or 395 mi	Minca	$863
651 km or 404 mi	Salento	$562
652 km or 405 mi	Armenia	$541
657 km or 408 mi	Tulua	$477
658 km or 409 mi	Barrancabermeja	$573
675 km or 419 mi	Liberia	$898