There has been so much interest in our cost of living reports that I decided to give this subject its own page.
What does it cost to live in Panama? Can you really live on $2000/month? $1000/month? $500/month? Yes you can. I just depends on how and where you want to live, and what makes you happy. If you live in Panama City, it’s going to be more expensive. If you want to live on less you can choose a more rural area, a smaller house, public transportation, and only local food. Entire Panamanian families often live on less than $1000/month.
We live in David, the second largest city. Our basic monthly expenses are around $1200/month – rent, food, utilities, etc. This does not include travel, medical/dental expenses, or other one time expenses. For a detailed accounting of how we live and what it costs, see the posts below.
I will continue to write occasional cost of living reports so stay tuned. We understand how important this information is to many people. It was very important to us as well when we were making the decision to move here.