Panama City vs Toronto - Cost of Living Comparison

Updated: March 02, 2025

	Panama City	Toronto
🚶 Cost of living one person	$1479	$2453
👨‍👩‍👧‍👦 Cost of living Family	$3609	$5408
🏠 One person rent	$846	$1480
🏘️ Family rent	$1592	$2344
🍽️ Food expenses	$440	$602
🚐 Transport expenses	$83	$240
💳 Monthly salary after tax	$967	$3141
😷 Air quality	Good	Good
✈️ Airport proximity	7 km	5 km
🎓 Higher education	42	86
😀 Quality of life	67	93
🏙️ Population	881K	2.79M

The cost of living in Panama City is 40% less expensive than in Toronto. Cities ranked 3517th and 861st ($1479 vs $2453) in the list of the most expensive cities in the world and ranked 1st and 4th 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 1.3 months in Toronto. Panama City ranked 1st best city to live in Panama vs Toronto ranked 2nd in Canada, while ranked 3734th and 59th 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	$10.4	$17.3
🥂 Dinner in a Restaurant, for 2	$48.5	$74.9
🥪 Fast food meal, equiv. McDonald's	$8.06	$10.6
🍻 Beer in a Pub, 0.5 L or 16 fl oz	$2.97	$6.08
☕ Cappuccino	$3.99	$4.07
🥤 Pepsi / Coke, 0.5 L or 16.9 fl oz	$1.66	$2.14
Rent & Utilities
🏙️ 1 bedroom apartment in Downtown, 40 m2 or 430 ft2	$891	$1577
🏡 Cheap 1 bedroom apartment, 40 m2 or 430 ft2	$681	$1302
🏙️ 3 bedroom apartment in Downtown, 80 m2 or 860 ft2	$1749	$2556
🏡 Cheap 3 bedroom apartment, 80 m2 or 860 ft2	$1344	$2087
🔌 Utility Bill one person, electricity, heating, water, etc.	$78	$74.4
🔌 Utility Bill for a Family, electricity, heating, water, etc.	$121	$114
🌐 Internet plan, 50 Mbps+ 1 month unlimited	$45.4	$48.6
🏦 Mortgage Interest Rate for 20 Years	6.28%	5.83%
🏙️ Apartment price to Buy in city Center, 1 m2 or 10 ft2	$2551	$9200
🏡 House price to Buy in Suburbs, 1 m2 or 10 ft2	$1632	$7455
Transportation
🚌 Local transport ticket	$0.42	$2.34
🎟️ Monthly ticket local transport	$23.2	$112
🚕 Taxi Ride, 8 km or 5 mi	$14.3	$15.4
⛽ Gas / Petrol, 1 L or 0.26 gal	$0.96	$1.09
Groceries
🥛 Milk, 1 L or 1 qt	$1.8	$2.76
🍞 Bread, 0.5 kg or 1.1 lb	$2.19	$2.44
🍚 Rice, 1 kg or 2.2 lb	$2.33	$2.81
🥚 Eggs, x12	$2.77	$3.73
🧀 Cheese, 1 kg or 2.2 lb	$12.4	$13.9
🐔 Chicken Breast, 1 kg or 2.2 lb	$7.09	$12.9
🥩 Round Steak, 1 kg or 2.2 lb	$9.99	$15
🍏 Apples, 1 kg or 2.2 lb	$3.44	$3.82
🍌 Banana, 1 kg or 2.2 lb	$1.58	$1.16
🍊 Oranges, 1 kg or 2.2 lb	$2.89	$3.25
🍅 Tomato, 1 kg or 2.2 lb	$2.94	$3.95
🥔 Potato, 1 kg or 2.2 lb	$2.23	$2.64
🧅 Onion, 1 kg or 2.2 lb	$2.8	$2.89
🌊 Water, 1 L or 1 qt	$1.07	$1.18
🍹 Coca-Cola / Pepsi, 2 L or 67.6 fl oz	$2.31	$2.34
🍾 Wine (mid-priced), 750 mL bottle	$10	$13.5
🍺 Beer, 0.5 L or 16 fl oz	$1.29	$2.5
🚬 Cigarette pack	$5.98	$13.2
💊 Cold medicince, 1 week	$11.7	$12.7
🧴 Hair Shampoo	$7.94	$5.96
🧻 Toilet paper, 4 rolls	$3.37	$3.23
👄 Toothpaste, 1 tube	$3.71	$3.62
Other
🏋️ Gym Membership, 1 month	$45.3	$47.2
🎫 Cinema Ticket, 1 person	$7.22	$12.2
👩‍⚕️ Doctor's visit	$54.5	$65.9
💇 Haircut, simple	$12.9	$22.2
👖 Brand Jeans	$56.8	$53.2
👟 Brand Sneakers	$93.2	$88.8
👶 Daycare or Preschool, 1 month	$477	$1130
🏫 International Primary School, 1 year	$13616	$17118

Cost of living in other countries

Cost of living

$349

$907

$6.64K

Cost of Living in the nearest cities

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

Cities near Toronto

Distance	City	Cost of living
20 km or 13 mi	Vaughan	$2267
23 km or 14 mi	Mississauga	$2370
24 km or 15 mi	Richmond Hill	$2447
26 km or 16 mi	Markham	$2291
31 km or 19 mi	Brampton	$1946
34 km or 21 mi	Oakville	$2142
35 km or 22 mi	Ajax	$2432
46 km or 28 mi	Halton Hills	$1966
50 km or 31 mi	Oshawa	$1554
51 km or 32 mi	Burlington	$2185
54 km or 34 mi	New Tecumseth	$2019
56 km or 35 mi	St. Catharines	$1846
60 km or 37 mi	Hamilton	$2017
65 km or 40 mi	Orangeville	$1861
67 km or 41 mi	Niagara Falls	$1771
71 km or 44 mi	Niagara Falls	$1888
71 km or 44 mi	Guelph	$1899
77 km or 48 mi	Welland	$1554
81 km or 50 mi	Grand Island	$2009
81 km or 51 mi	Lockport	$2021
82 km or 51 mi	North Tonawanda	$1992
82 km or 51 mi	Cambridge	$2089
84 km or 52 mi	Barrie	$1849
89 km or 56 mi	Brantford	$1783
90 km or 56 mi	Amherst	$2013
92 km or 57 mi	Kitchener	$2056
94 km or 58 mi	Waterloo	$1977
96 km or 59 mi	Buffalo	$2183
100 km or 62 mi	Cheektowaga	$2107
100 km or 62 mi	Clarence	$2056
103 km or 64 mi	West Seneca	$2145
103 km or 64 mi	Orillia	$1910
105 km or 65 mi	Lancaster	$2082
111 km or 69 mi	Peterborough	$1990
112 km or 70 mi	Hamburg	$2101
114 km or 71 mi	Orchard Park	$2100
132 km or 82 mi	Stratford	$1680
146 km or 91 mi	Greece	$2097
146 km or 91 mi	Chili	$2081
148 km or 92 mi	Gates	$2095