Mexico vs Panama - Cost of Living Comparison

MexicoPanama
🚶 Cost of living one person
$678
$1091
👨‍👩‍👧‍👦 Cost of living Family
$1621
$2534
🏠 One person rent
$308
$576
🏘️ Family rent
$516
$919
🍽️ Food expenses
$244
$364
🚐 Transport expenses
$59
$65.4
💳 Monthly salary after tax
$548
$757
💸 GDP per capita
$8347
$12269
😃 Human freedom index
7.06
7.62
❤️ Life expectancy
75.1
78.5
👮 Corruption perceptions index
31
35
🌐 English speaking %
13%
14%
🎓 Higher education
89
45
😀 Quality of life
44
54
🏙️ Population
125M
4.1M

The average cost of living in Mexico ($678) is 38% less expensive than in Panama ($1091). Mexico ranked 124th vs 56th for Panama in the list of the most expensive countries in the world.

The average after-tax salary is enough to cover living expenses for 0.8 months in Mexico compared to 0.7 months in Panama. Ranked 102nd and 66th best countries to live in the world.

Cost of living in Mexico vs Panama infographic

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Prices in Mexico vs Panama

MexicoPanama
Eating Out
🍱 Lunch Menu
$6.39
$7.48
🥂 Dinner in a Restaurant, for 2
$19.4
$32.6
🥪 Fast food meal, equiv. McDonald's
$5.58
$6.78
🍻 Beer in a Pub, 0.5 L or 16 fl oz
$1.73
$2.53
 Cappuccino
$2.82
$3.5
🥤 Pepsi / Coke, 0.5 L or 16.9 fl oz
$0.84
$1.33
Rent & Utilities
🏙️ 1 bedroom apartment in Downtown, 40 m2 or 430 ft2
$380
$678
🏡 Cheap 1 bedroom apartment, 40 m2 or 430 ft2
$218
$411
🏙️ 3 bedroom apartment in Downtown, 80 m2 or 860 ft2
$657
$1124
🏡 Cheap 3 bedroom apartment, 80 m2 or 860 ft2
$386
$680
🔌 Utility Bill one person, electricity, heating, water, etc.
$34.6
$69.7
🔌 Utility Bill for a Family, electricity, heating, water, etc.
$53.2
$108
🌐 Internet plan, 50 Mbps+ 1 month unlimited
$22.7
$41.5
🏦 Mortgage Interest Rate for 20 Years
11.02%
6.18%
🏙️ Apartment price to Buy in city Center, 1 m2 or 10 ft2
$1345
$1937
🏡 House price to Buy in Suburbs, 1 m2 or 10 ft2
$859
$1335
Transportation
🚌 Local transport ticket
$0.52
$0.39
🎟️ Monthly ticket local transport
$25.2
$32.3
🚕 Taxi Ride, 8 km or 5 mi
$7.74
$13.9
 Gas / Petrol, 1 L or 0.26 gal
$0.96
$0.8
Groceries
🥛 Milk, 1 L or 1 qt
$1.03
$1.51
🍞 Bread, 0.5 kg or 1.1 lb
$1.2
$1.81
🍚 Rice, 1 kg or 2.2 lb
$1.1
$1.87
🥚 Eggs, x12
$1.68
$2.2
🧀 Cheese, 1 kg or 2.2 lb
$6.3
$9.79
🐔 Chicken Breast, 1 kg or 2.2 lb
$5.32
$6.19
🥩 Round Steak, 1 kg or 2.2 lb
$7.49
$9.77
🍏 Apples, 1 kg or 2.2 lb
$1.94
$2.84
🍌 Banana, 1 kg or 2.2 lb
$1.03
$1.63
🍊 Oranges, 1 kg or 2.2 lb
$1.01
$2.46
🍅 Tomato, 1 kg or 2.2 lb
$1.13
$2.72
🥔 Potato, 1 kg or 2.2 lb
$1.17
$1.99
🧅 Onion, 1 kg or 2.2 lb
$1.06
$2.06
🌊 Water, 1 L or 1 qt
$0.5
$0.93
🍹 Coca-Cola / Pepsi, 2 L or 67.6 fl oz
$1.41
$2.19
🍾 Wine (mid-priced), 750 mL bottle
$10
$9.01
🍺 Beer, 0.5 L or 16 fl oz
$1.17
$1.01
🚬 Cigarette pack
$2.97
$5.29
💊 Cold medicince, 1 week
$4.62
$11.8
🧴 Hair Shampoo
$2.69
$5.65
🧻 Toilet paper, 4 rolls
$1.49
$2.6
👄 Toothpaste, 1 tube
$1.44
$2.18
Other
🏋️ Gym Membership, 1 month
$33.5
$37.9
🎫 Cinema Ticket, 1 person
$3.57
$5.91
👩‍⚕️ Doctor's visit
$26.8
$45.8
💇 Haircut, simple
$6.56
$9.76
👖 Brand Jeans
$40.3
$44.4
👟 Brand Sneakers
$70.7
$67.9
👶 Daycare or Preschool, 1 month
$205
$299
🏫 International Primary School, 1 year
$4175
$10506

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Cities Comparison in Mexico vs Panama

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Cost of Living in Popular cities

In Mexico

CityCost of livingPopulation
Mexico City
$867
8.92M
Tijuana
$772
1.96M
Ciudad Juarez
$753
1.32M
Ecatepec de Morelos
$759
1.86M
Zapopan
$741
1.33M
Aguascalientes
$553
934K
Naucalpan
$751
872K
Guadalajara
$743
1.46M
Cancun
$734
889K
Monterrey
$798
1.14M
Saltillo
$640
880K
Villahermosa
$706
1.01M
Puebla
$667
1.43M
Ciudad Nezahualcoyotl
$664
1.23M
Morelia
$554
963K
Chihuahua
$644
878K
Hermosillo
$676
984K
San Luis Potosi
$617
773K
Leon
$632
1.24M
Toluca
$650
748K
Apodaca
$676
523K
Mazatlan
$666
658K
Queretaro
$692
626K
Culiacan
$750
808K
Mexicali
$671
1.03M
Merida
$660
892K
Tlaquepaque
$616
664K
Tlalnepantla
$585
653K
Torreon
$570
717K
Celaya
$502
494K

In Panama

CityCost of livingPopulation
Panama City
$1221
881K
Colon
$1171
242K
David
$761
145K
Tocumen
$902
103K
La Chorrera
$818
68.9K
Balboa
$919
62.9K
Santiago de Veraguas
$919
50.9K
Chitre
$917
46.2K
Pacora
$780
52.5K
Penonome
$924
21.7K