Cost of living comparison
Panama City is 13.0% cheaper than Madrid.
If you lived in Panama City instead of Madrid, you would:
pay 25.6% less for restaurants
Madrid
|
Panama City
|
||
---|---|---|---|
Basic meal with drink at inexpensive restaurant |
$15.16
€13.86
|
$12.00
PAB12.00
|
|
Fast food combo meal
McDonalds, or similar
|
$10.32
€9.43
|
$8.25
PAB8.25
|
|
Bottle of Coca-Cola (11 fl. oz) |
$2.71
€2.47
|
$1.76
PAB1.76
|
|
Bottle of water (11 fl. oz) |
$1.81
€1.65
|
$1.33
PAB1.33
|
|
pay 12.9% more for groceries
Madrid
|
Panama City
|
||
---|---|---|---|
Bread
1 loaf
|
$1.74
€1.59
|
$2.40
PAB2.40
|
|
Local cheese (8 oz) |
$7.67
€7.01
|
$5.44
PAB5.44
|
|
Milk (1 gallon) |
$4.36
€3.98
|
$6.66
PAB6.66
|
|
Eggs
1 dozen
|
$3.02
€2.76
|
$2.54
PAB2.54
|
|
Boneless chicken breast (1 lb) |
$3.87
€3.54
|
$3.39
PAB3.39
|
|
Apples (1 lb) |
$1.14
€1.04
|
$1.40
PAB1.40
|
|
Bananas (1 lb) |
$0.89
€0.81
|
$0.62
PAB0.62
|
|
Oranges (1 lb) |
$0.97
€0.88
|
$1.30
PAB1.30
|
|
Tomatoes (1 lb) |
$1.13
€1.03
|
$1.41
PAB1.41
|
|
Potatoes (1 lb) |
$0.72
€0.66
|
$0.94
PAB0.94
|
|
Onions (1 lb) |
$0.77
€0.70
|
$0.97
PAB0.97
|
|
pay 35.5% less for transportation
Madrid
|
Panama City
|
||
---|---|---|---|
Gasoline (1 gallon) |
$6.78
€6.20
|
$3.69
PAB3.69
|
|
Monthly public transit pass |
$54.15
€49.48
|
$25.00
PAB25.00
|
|
New Volkswagen Golf 1.4 (standard edition) |
$36,133.87
€33,019.74
|
$22,250.00
PAB22,250.00
|
|
Taxi trip in downtown area (5 miles) |
$14.65
€13.39
|
$14.00
PAB14.00
|
|
pay 12.0% less for housing
Madrid
|
Panama City
|
||
---|---|---|---|
Internet connection
50 mbps or faster, cable/dsl
|
$33.64
€30.74
|
$51.82
PAB51.82
|
|
1-Bedroom apartment in downtown area |
$1,370.72
€1,252.59
|
$925.91
PAB925.91
|
|
1-Bedroom apartment outside city center |
$989.21
€903.95
|
$598.61
PAB598.61
|
|
Utilities for two
(700 sq ft apartment)
including electric, gas, water, heating
|
$123.32
€112.69
|
$86.14
PAB86.14
|
|
pay 13.9% less for childcare
Madrid
|
Panama City
|
||
---|---|---|---|
Private preschool for 1 child, monthly |
$543.23
€496.41
|
$408.12
PAB408.12
|
|
Middle school for 1 child, two semesters |
$9,978.95
€9,118.94
|
$9,675.75
PAB9,675.75
|
|
pay 10.0% less for entertainment and sports
Madrid
|
Panama City
|
||
---|---|---|---|
Domestic/local beer (1 pint) |
$3.79
€3.46
|
$2.50
PAB2.50
|
|
Cappuccino in mid-range area |
$2.63
€2.40
|
$3.70
PAB3.70
|
|
Pack of cigarettes
Marlboro or similar
|
$6.12
€5.59
|
$5.75
PAB5.75
|
|
Monthly membership at local gym |
$48.46
€44.29
|
$40.93
PAB40.93
|
|
Movie ticket to theater/cinema |
$10.83
€9.90
|
$7.00
PAB7.00
|
|
pay 7.0% less for clothing
Madrid
|
Panama City
|
||
---|---|---|---|
Regular jeans
Levi's brand
|
$83.95
€76.71
|
$53.94
PAB53.94
|
|
Regular dress
from H&M or similar store
|
$33.93
€31.01
|
$40.79
PAB40.79
|
|
Running shoes
Nike or Adidas
|
$87.19
€79.68
|
$82.58
PAB82.58
|
|
Men's business shoes (leather) |
$99.93
€91.32
|
$92.86
PAB92.86
|
|
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