Panama City vs Toronto - Cost of Living Comparison

Updated: October 10, 2024

	Panama City	Toronto
🚶 Cost of living one person	$1384	$2575
👨‍👩‍👧‍👦 Cost of living Family	$3435	$5897
🏠 One person rent	$751	$1551
🏘️ Family rent	$1474	$2665
🍽️ Food expenses	$444	$626
🚐 Transport expenses	$84.4	$255
💳 Monthly salary after tax	$914	$3590
😷 Air quality	Good	Good
✈️ Airport proximity	7 km	5 km
🎓 Higher education	42	86
😀 Quality of life	66	94
🏙️ Population	881K	2.79M

The cost of living in Panama City is 46% less expensive than in Toronto. Cities ranked 4139th and 656th ($1384 vs $2575) in the list of the most expensive cities in the world and ranked 1st and 5th in Panama and Canada, respectively. Check Panama vs Canada comparison.

The average after-tax salary is enough to cover living expenses for 0.7 months in Panama City compared to 1.4 months in Toronto. Panama City ranked 1st best city to live in Panama vs Toronto ranked 1st in Canada, while ranked 3919th and 52nd among best cities to live in the world.

Salary adjustment calculator
the estimated difference in money purchasing power

Cost of living in Panama City vs Toronto infographic

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Prices in Panama City vs Toronto

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

	Panama City	Toronto
Eating Out
🍱 Lunch Menu	$12.3	$16.4
🥂 Dinner in a Restaurant, for 2	$55.2	$81.8
🥪 Fast food meal, equiv. McDonald's	$7.6	$11
🍻 Beer in a Pub, 0.5 L or 16 fl oz	$2.94	$6.33
☕ Cappuccino	$4.25	$4.66
🥤 Pepsi / Coke, 0.5 L or 16.9 fl oz	$1.9	$2.14
Rent & Utilities
🏙️ 1 bedroom apartment in Downtown, 40 m2 or 430 ft2	$827	$1664
🏡 Cheap 1 bedroom apartment, 40 m2 or 430 ft2	$577	$1358
🏙️ 3 bedroom apartment in Downtown, 80 m2 or 860 ft2	$1757	$2901
🏡 Cheap 3 bedroom apartment, 80 m2 or 860 ft2	$1198	$2388
🔌 Utility Bill one person, electricity, heating, water, etc.	$76.7	$80.8
🔌 Utility Bill for a Family, electricity, heating, water, etc.	$118	$124
🌐 Internet plan, 50 Mbps+ 1 month unlimited	$47.4	$50.5
🏦 Mortgage Interest Rate for 20 Years	6.12%	6.43%
🏙️ Apartment price to Buy in city Center, 1 m2 or 10 ft2	$2406	$10232
🏡 House price to Buy in Suburbs, 1 m2 or 10 ft2	$1535	$8102
Transportation
🚌 Local transport ticket	$0.35	$2.46
🎟️ Monthly ticket local transport	$26.2	$119
🚕 Taxi Ride, 8 km or 5 mi	$13.9	$16.3
⛽ Gas / Petrol, 1 L or 0.26 gal	$1.02	$1.15
Groceries
🥛 Milk, 1 L or 1 qt	$1.78	$3.15
🍞 Bread, 0.5 kg or 1.1 lb	$2.12	$2.6
🍚 Rice, 1 kg or 2.2 lb	$2.08	$3.08
🥚 Eggs, x12	$2.67	$3.95
🧀 Cheese, 1 kg or 2.2 lb	$13.2	$14
🐔 Chicken Breast, 1 kg or 2.2 lb	$7.23	$13
🥩 Round Steak, 1 kg or 2.2 lb	$10.4	$14
🍏 Apples, 1 kg or 2.2 lb	$3.11	$4.01
🍌 Banana, 1 kg or 2.2 lb	$1.54	$1.46
🍊 Oranges, 1 kg or 2.2 lb	$3.09	$3.58
🍅 Tomato, 1 kg or 2.2 lb	$2.94	$4.07
🥔 Potato, 1 kg or 2.2 lb	$2.19	$2.57
🧅 Onion, 1 kg or 2.2 lb	$2.5	$2.82
🌊 Water, 1 L or 1 qt	$1	$1.24
🍹 Coca-Cola / Pepsi, 2 L or 67.6 fl oz	$2.51	$2.48
🍾 Wine (mid-priced), 750 mL bottle	$9.03	$14.7
🍺 Beer, 0.5 L or 16 fl oz	$1.14	$2.7
🚬 Cigarette pack	$5.89	$14.1
💊 Cold medicince, 1 week	$10.5	$13.9
🧴 Hair Shampoo	$6.97	$7.04
🧻 Toilet paper, 4 rolls	$3.12	$3.36
👄 Toothpaste, 1 tube	$3.06	$3.37
Other
🏋️ Gym Membership, 1 month	$43.8	$56.8
🎫 Cinema Ticket, 1 person	$6.71	$13.3
👩‍⚕️ Doctor's visit	$49.1	$69.6
💇 Haircut, simple	$13.7	$23.3
👖 Brand Jeans	$54.3	$58.7
👟 Brand Sneakers	$90.2	$99.9
👶 Daycare or Preschool, 1 month	$437	$1200
🏫 International Primary School, 1 year	$9531	$18156

Cost of living in other countries

Cost of living

Cost of Living in the nearest cities

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

Cities near Toronto

Distance	City	Cost of living
20 km or 13 mi	Vaughan	$2332
23 km or 14 mi	Mississauga	$2472
24 km or 15 mi	Richmond Hill	$2618
26 km or 16 mi	Markham	$2398
31 km or 19 mi	Brampton	$2127
34 km or 21 mi	Oakville	$2266
35 km or 22 mi	Ajax	$2597
46 km or 28 mi	Halton Hills	$2086
50 km or 31 mi	Oshawa	$1635
51 km or 32 mi	Burlington	$2297
54 km or 34 mi	New Tecumseth	$2143
56 km or 35 mi	St. Catharines	$1975
60 km or 37 mi	Hamilton	$2154
65 km or 40 mi	Orangeville	$1971
67 km or 41 mi	Niagara Falls	$1885
71 km or 44 mi	Niagara Falls	$1543
71 km or 44 mi	Guelph	$2012
77 km or 48 mi	Welland	$1762
81 km or 50 mi	Grand Island	$1798
81 km or 51 mi	Lockport	$1873
82 km or 51 mi	North Tonawanda	$1853
82 km or 51 mi	Cambridge	$2267
84 km or 52 mi	Barrie	$1999
89 km or 56 mi	Brantford	$1884
90 km or 56 mi	Amherst	$2018
92 km or 57 mi	Kitchener	$2144
94 km or 58 mi	Waterloo	$2095
96 km or 59 mi	Buffalo	$2051
100 km or 62 mi	Cheektowaga	$2029
100 km or 62 mi	Clarence	$1964
103 km or 64 mi	West Seneca	$2041
103 km or 64 mi	Orillia	$2038
105 km or 65 mi	Lancaster	$1986
111 km or 69 mi	Peterborough	$2017
112 km or 70 mi	Hamburg	$2009
114 km or 71 mi	Orchard Park	$2007
132 km or 82 mi	Stratford	$1814
146 km or 91 mi	Greece	$2074
146 km or 91 mi	Chili	$2046
148 km or 92 mi	Gates	$2085