Panama City vs Toronto - Cost of Living Comparison

Updated: March 01, 2024

	Panama City	Toronto
🚶 Cost of living one person	$1316	$2576
👨‍👩‍👧‍👦 Cost of living Family	$3171	$5834
🏠 One person rent	$709	$1582
🏘️ Family rent	$1291	$2702
🍽️ Food expenses	$426	$610
🚐 Transport expenses	$78	$248
💳 Monthly salary after tax	$901	$3483
😷 Air quality	Moderate	Excellent
✈️ Airport proximity	7 km	5 km
🎓 Higher education	42	86
😀 Quality of life	67	94
🏙️ Population	881K	2.79M

The cost of living in Panama City is 49% less expensive than in Toronto. Cities ranked 4138th and 571st ($1316 vs $2576) in the list of the most expensive cities in the world and ranked 1st and 6th 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 2nd in Canada, while ranked 3926th and 36th 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

Share this infographic!

Use the link below to embed the infographic from our site and automatically keep the data layer up to date.

If you prefer to download the image, please credit us as a source.

<img src="https://livingcost.org/assets/photo/cost/panama-city/toronto.jpg" alt="Cost of living in Panama City vs Toronto infographic" style="max-width: 100%; height: auto;"><p>Source: <a href="https://livingcost.org/cost/panama-city/toronto" target="_blank">Panama City vs Toronto - Cost of Living Comparison</a></p>

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	$11.5	$16.8
🥂 Dinner in a Restaurant, for 2	$51.8	$71.4
🥪 Fast food meal, equiv. McDonald's	$7.97	$10.8
🍻 Beer in a Pub, 0.5 L or 16 fl oz	$2.6	$6.53
☕ Cappuccino	$4.35	$4.13
🥤 Pepsi / Coke, 0.5 L or 16.9 fl oz	$1.75	$2.09
Rent & Utilities
🏙️ 1 bedroom apartment in Downtown, 40 m2 or 430 ft2	$836	$1662
🏡 Cheap 1 bedroom apartment, 40 m2 or 430 ft2	$520	$1377
🏙️ 3 bedroom apartment in Downtown, 80 m2 or 860 ft2	$1703	$2941
🏡 Cheap 3 bedroom apartment, 80 m2 or 860 ft2	$980	$2385
🔌 Utility Bill one person, electricity, heating, water, etc.	$78.2	$98.2
🔌 Utility Bill for a Family, electricity, heating, water, etc.	$119	$156
🌐 Internet plan, 50 Mbps+ 1 month unlimited	$47.6	$49.7
🏦 Mortgage Interest Rate for 20 Years	5.97%	6.6%
🏙️ Apartment price to Buy in city Center, 1 m2 or 10 ft2	$2399	$10196
🏡 House price to Buy in Suburbs, 1 m2 or 10 ft2	$1457	$8230
Transportation
🚌 Local transport ticket	$0.35	$2.47
🎟️ Monthly ticket local transport	$25.9	$112
🚕 Taxi Ride, 8 km or 5 mi	$12	$16.4
⛽ Gas / Petrol, 1 L or 0.26 gal	$1.06	$1.18
Groceries
🥛 Milk, 1 L or 1 qt	$1.76	$2.97
🍞 Bread, 0.5 kg or 1.1 lb	$2.11	$2.59
🍚 Rice, 1 kg or 2.2 lb	$1.71	$3.04
🥚 Eggs, x12	$2.63	$3.89
🧀 Cheese, 1 kg or 2.2 lb	$11.9	$15.2
🐔 Chicken Breast, 1 kg or 2.2 lb	$7.45	$13.6
🥩 Round Steak, 1 kg or 2.2 lb	$8.87	$14.2
🍏 Apples, 1 kg or 2.2 lb	$2.91	$3.74
🍌 Banana, 1 kg or 2.2 lb	$1.37	$1.36
🍊 Oranges, 1 kg or 2.2 lb	$2.8	$4.01
🍅 Tomato, 1 kg or 2.2 lb	$2.81	$3.66
🥔 Potato, 1 kg or 2.2 lb	$2.1	$2.73
🧅 Onion, 1 kg or 2.2 lb	$2.02	$2.73
🌊 Water, 1 L or 1 qt	$0.98	$1.19
🍹 Coca-Cola / Pepsi, 2 L or 67.6 fl oz	$2.59	$2.55
🍾 Wine (mid-priced), 750 mL bottle	$9.98	$14
🍺 Beer, 0.5 L or 16 fl oz	$1.14	$2.47
🚬 Cigarette pack	$5.88	$13.9
💊 Cold medicince, 1 week	$9.43	$12.7
🧴 Hair Shampoo	$7.05	$6.99
🧻 Toilet paper, 4 rolls	$3.43	$3.58
👄 Toothpaste, 1 tube	$3.7	$3.37
Other
🏋️ Gym Membership, 1 month	$42	$52.7
🎫 Cinema Ticket, 1 person	$6.85	$12.7
👩‍⚕️ Doctor's visit	$48.6	$62.4
💇 Haircut, simple	$13.5	$22.5
👖 Brand Jeans	$54.3	$54.5
👟 Brand Sneakers	$86.9	$102
👶 Daycare or Preschool, 1 month	$408	$1117
🏫 International Primary School, 1 year	$9581	$18837

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	$1189
16 km or 9.9 mi	Tocumen	$1171
26 km or 16 mi	Pacora	$1182
34 km or 21 mi	La Chorrera	$917
59 km or 37 mi	Colon	$1157
108 km or 67 mi	Penonome	$940
154 km or 96 mi	Chitre	$980
190 km or 118 mi	Santiago de Veraguas	$961
321 km or 199 mi	Turbo	$624
329 km or 204 mi	David	$789
398 km or 247 mi	Monteria	$633
403 km or 250 mi	Limon	$1147
406 km or 252 mi	Santa Cruz de Lorica	$573
452 km or 281 mi	Sincelejo	$536
463 km or 288 mi	Cartagena	$877
483 km or 300 mi	Quibdo	$649
494 km or 307 mi	Cartago	$1009
513 km or 319 mi	San Jose	$1169
518 km or 322 mi	Heredia	$1040
521 km or 324 mi	Magangue	$582
526 km or 327 mi	Bello	$778
529 km or 329 mi	Alajuela	$1163
530 km or 329 mi	Medellin	$867
534 km or 332 mi	Envigado	$812
558 km or 347 mi	Soledad	$851
559 km or 348 mi	Barranquilla	$780
595 km or 370 mi	Puntarenas	$1024
617 km or 383 mi	Cartago	$639
617 km or 383 mi	Cienaga	$661
623 km or 387 mi	Manizales	$727
627 km or 390 mi	Santa Teresa	$1114
627 km or 390 mi	Pereira	$639
631 km or 392 mi	Santa Marta	$705
632 km or 393 mi	Buenaventura	$552
636 km or 395 mi	Minca	$655
651 km or 404 mi	Salento	$567
652 km or 405 mi	Armenia	$551
657 km or 408 mi	Tulua	$493
658 km or 409 mi	Barrancabermeja	$592
675 km or 419 mi	Liberia	$1220

Cities near Toronto

Distance	City	Cost of living
20 km or 13 mi	Vaughan	$2390
23 km or 14 mi	Mississauga	$2600
24 km or 15 mi	Richmond Hill	$2622
26 km or 16 mi	Markham	$2358
31 km or 19 mi	Brampton	$2128
34 km or 21 mi	Oakville	$2192
35 km or 22 mi	Ajax	$2578
46 km or 28 mi	Halton Hills	$2114
50 km or 31 mi	Oshawa	$1598
51 km or 32 mi	Burlington	$2293
54 km or 34 mi	New Tecumseth	$2082
56 km or 35 mi	St. Catharines	$2032
60 km or 37 mi	Hamilton	$2244
65 km or 40 mi	Orangeville	$2073
67 km or 41 mi	Niagara Falls	$1862
71 km or 44 mi	Niagara Falls	$1510
71 km or 44 mi	Guelph	$2218
77 km or 48 mi	Welland	$1734
81 km or 50 mi	Grand Island	$1821
81 km or 51 mi	Lockport	$1915
82 km or 51 mi	North Tonawanda	$1879
82 km or 51 mi	Cambridge	$2125
84 km or 52 mi	Barrie	$1408
89 km or 56 mi	Brantford	$1949
90 km or 56 mi	Amherst	$2072
92 km or 57 mi	Kitchener	$2084
94 km or 58 mi	Waterloo	$2217
96 km or 59 mi	Buffalo	$2194
100 km or 62 mi	Cheektowaga	$2127
100 km or 62 mi	Clarence	$2031
103 km or 64 mi	West Seneca	$2156
103 km or 64 mi	Orillia	$2004
105 km or 65 mi	Lancaster	$2074
111 km or 69 mi	Peterborough	$2049
112 km or 70 mi	Hamburg	$2085
114 km or 71 mi	Orchard Park	$2097
132 km or 82 mi	Stratford	$1816
146 km or 91 mi	Greece	$2178
146 km or 91 mi	Chili	$2151
148 km or 92 mi	Gates	$2190