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Cost of Living Comparison (2026)
Panama City is 61% cheaper than Medellin
Quick answer
Comparing Panama City, Panama and Medellin, Colombia: a moderate single-person monthly budget is approximately $1,650 in Panama City versus $650 in Medellin. Panama City is roughly 61% cheaper overall. Central 1-bed rent: $1,000/mo (Panama City) vs $550/mo (Medellin). Estimates use World Bank PPP data + national statistics + (where available) item-level price snapshots.
Key facts
| Lifestyle | 🇵🇦 Panama City | 🇨🇴 Medellin | Difference |
|---|---|---|---|
| Budget | $1,150/mo | $450/mo | -61% |
| Moderate | $1,650/mo | $650/mo | -61% |
| Comfortable | $2,500/mo | $1,000/mo | -60% |
Estimates for a single person. Based on World Bank PPP data and national statistics.
| Category | 🇵🇦 Panama City | 🇨🇴 Medellin | Diff |
|---|---|---|---|
| Housing (1-bed, center) | $1,000/mo | $550/mo | -45% |
| Groceries & Food | $330/mo | $130/mo | -61% |
| Dining Out | $140/mo | $80/mo | -43% |
| Transport | $25/mo | $28/mo | +12% |
| Utilities & Internet | $165/mo | $65/mo | -61% |
| Healthcare | $132/mo | $52/mo | -61% |
| Leisure & Personal | $116/mo | $46/mo | -60% |
Explore more: Panama City city guide | Medellin city guide | Panama | Colombia