Cheapest Cities Near Panama City (2026)

Panama City has a cost of living index of 58 (US avg = 100). Here are 8 more affordable metros to consider as alternatives.

More affordable alternatives

1
Phnom Penh, KH48% cheaper
COL: 301BR: $350/moSave $550/mo on rent
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2
Buenos Aires, AR48% cheaper
COL: 301BR: $400/moSave $500/mo on rent
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3
Oaxaca, MX45% cheaper
COL: 321BR: $400/moSave $500/mo on rent
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4
Da Nang, VN42% cheaper
COL: 341BR: $350/moSave $550/mo on rent
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5
Medellín, CO40% cheaper
COL: 351BR: $500/moSave $400/mo on rent
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6
Marrakech, MA40% cheaper
COL: 351BR: $430/moSave $470/mo on rent
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7
Hanoi, VN36% cheaper
COL: 371BR: $450/moSave $450/mo on rent
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8
Cebu City, PH36% cheaper
COL: 371BR: $400/moSave $500/mo on rent
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Panama City at a glance

58
COL index
100 = US avg
$900
1BR rent
per month
—
Home price
median
None
State tax
income

Cities with similar cost of living

Riga, LVCOL: 57Porto, PTCOL: 56Vilnius, LTCOL: 60Tallinn, EECOL: 60

COL index sourced from Numbeo, Zillow, and BLS data · Q1 2026 · For general guidance only