Cost of Living in Panama

"I suppose for normal people (unlike me) you'd best have a couple thousand dollars per month," said one expat in Las Tablas.

"The cost of living in Panama is generally considered to be very affordable. Groceries, rent, utilities, healthcare and other necessities are typically more affordable than in many other countries. The cost of dining out, entertainment, and other services is also competitive. Panama is a great option for those looking to live comfortably and keep their cost of living low," wrote a person living in Panama.

"Living in Panama can be an affordable option compared to the United States, particularly for those who keep budgets tight. Costs of everyday items, such as food and transportation, are typically much lower than what is found in the U.S., allowing residents to enjoy a more modest lifestyle. Rent and utilities are usually more affordable in Panama as well, making it a great option for those who don't want to spend too much on housing. Choosing to live in Panama can also be a major money-saver if one takes advantage of the country's abundant health care opportunities," said one expat in Panama.

"The cost of living in Panama is not as low as it once was (we have heard) but is still lower than the US. There is no way we could afford to rent a condo right on the beach in the US for what we are paying here. We knew there would be adjustments but it has been easier than we anticipated in part due to the strong expat community. No expectations means no disappointment," remarked one in Nueva Gorgona.

"Its not as cheap as I thought it would be. Food is the same or more. Restaurants are cheaper. Transport much cheaper. Clothing and appliances are probably cheaper in US. We have better sales in US," explained one expat.

"Electricity more, especially when fuel prices soar. Cable is same. No ppty taxes, but now have $400 a month maintenance in the bldg, which includes water, garbage, common area items. When I look at check registers from California, I'm reminded that we paid a monthly (smaller) fee, but paid for garbage removal, gardener for back yard, all utilities, cable, phone. Here I can live with a cell phone only," wrote a person living in Panama City.

"The cost of housing in Panama tends to vary depending on the location and type of property. Generally speaking, prices for apartments or condos range from moderate to expensive, with smaller units costing significantly less than luxury homes. On average, rental fees in urban locations can start as low as $500 while more upscale dwellings can range up to over $2,000 per month," explained one expat living in Panama.

"Monthly rental is $905.00 per month cheaper. Housing here is between $600 $700 for two bedrooms. There are real estate people here who will find a house or apartment for you. Be prepared, every local has his hand out. Everyone from the cab drivers to our exterminator will offer to find a house for you. They have contacts and get commissions. But make no mistake, the Panamanians are all good-hearted and mean well. Sometimes strike gold," said one in Alto Boquete.

"Our housing costs are about a third of what we spend in the US. You can get a nice simple apartment for 300 and up or a home for 500 and up. We live on an island so you are never far from the ocean,," explained one expat who made the move to Bocas del Toro.

"The rental price for a nice 1 bedroom apartment in Panama is generally in the range of $500 to $800 per month, while a nice 2 bedroom apartment can typically be rented in the range of $800 to $1200 per month," said one expat.

"There are homes available for lower rents in Gorgona but I'm in a condo on the beach and that is the market I’m familiar with. Furnished two bedroom, two bathroom rentals along the beach in a condo usually run from $900 to $2,000 and above. Many rents include WiFi, electricity, gas, water, trash collection. Be sure to know what is included," remarked one expat in Nueva Gorgona.

"We live in Panama City, and rent a furnished 1 bedroom condo, in a nice 35 story high-rise in Bella Vista. Washer/dryer stackable, fridge/freezer combo, gas burner stove top, and stove. Small microwave. This is typical most places we looked at. What we don't have: dishwasher. Most places do not have. We are adding one to our new condo waiting to be built. We also bought an airfryer on Amazon. Very handy. I would pick up a dehumidifier for your unit, if it does not come with one. Will help cut down on mildew. ," remarked one expat in Panama.

"Rental properties in Panama commonly include kitchen appliances such as refrigerator, oven and stove, common laundry appliances such as washer and dryer, air conditioning units, fans and window screens to keep out insects, and occasionally furnishings, depending on the agreement between the tenant and the landlord. Additionally, it is common practice for landlords to provide households with basic, essential utilities such as water, electricity and internet," remarked one expat living in Panama.