Cost of living comparison

Panama

compared to

Canada

Toronto vs. Panama City Cost of Living Summary

Toronto is 24.1% more expensive than Panama City.

Restaurants: pay 34.7% more in Toronto
Groceries: pay 12.3% less in Toronto
Transportation: pay 59.8% more in Toronto
Housing: pay 31.1% more in Toronto
Childcare: pay 92.3% more in Toronto
Entertainment and Sports: pay 29.6% more in Toronto
Clothing: pay 8.0% less in Toronto

The cost of childcare, transportation, restaurants, housing, and entertainment and sports in Toronto are more expensive than in Panama City. Expenses including groceries and clothing are lower in Toronto. Notably, childcare is significantly more expensive in Toronto.

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Toronto vs. Panama City Cost Breakdown

If you lived in Toronto instead of Panama City, you would:

Display currency: USD

pay 34.7% more for restaurants

	Panama City	Toronto
Basic meal with drink at inexpensive restaurant	$11.50 PAB11.50	$17.53 CA$24.82	+52.5%
Fast food combo meal McDonalds, or similar	$8.00 PAB8.00	$10.52 CA$14.89	+31.5%
Bottle of Coca-Cola (11 fl. oz)	$1.97 PAB1.97	$2.08 CA$2.94	+5.3%
Bottle of water (11 fl. oz)	$1.60 PAB1.60	$1.71 CA$2.42	+6.9%
Average			+34.7%

Panama City vs. Toronto - Cost of restaurants

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pay 12.3% less for groceries

	Panama City	Toronto
Bread 1 loaf	$2.52 PAB2.52	$2.74 CA$3.88	+9.0%
Local cheese (8 oz)	$6.18 PAB6.18	$4.56 CA$6.46	-26.2%
Milk (1 gallon)	$7.09 PAB7.09	$9.44 CA$13.37	+33.2%
Eggs 1 dozen	$2.75 PAB2.75	$3.54 CA$5.01	+28.8%
Boneless chicken breast (1 lb)	$3.07 PAB3.07	$5.16 CA$7.30	+68.2%
Apples (1 lb)	$1.87 PAB1.87	$1.68 CA$2.38	-10.1%
Bananas (1 lb)	$0.82 PAB0.82	$0.54 CA$0.76	-34.8%
Oranges (1 lb)	$1.92 PAB1.92	$1.59 CA$2.25	-17.2%
Tomatoes (1 lb)	$1.86 PAB1.86	$1.95 CA$2.76	+5.0%
Potatoes (1 lb)	$1.55 PAB1.55	$0.82 CA$1.17	-46.8%
Onions (1 lb)	$1.96 PAB1.96	$0.73 CA$1.04	-62.5%
Average			-12.3%

Panama City vs. Toronto - Cost of groceries

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pay 59.8% more for transportation

	Panama City	Toronto
Gasoline (1 gallon)	$4.62 PAB4.62	$4.68 CA$6.62	+1.2%
Monthly public transit pass	$21.00 PAB21.00	$109.41 CA$154.90	+421.0%
New Volkswagen Golf 1.4 (standard edition)	$21,262.00 PAB21,262.00	$27,760.48 CA$39,301.90	+30.6%
Taxi trip in downtown area (5 miles)	$16.98 PAB16.98	$12.80 CA$18.12	-24.6%
Average			+59.8%

Panama City vs. Toronto - Cost of transportation

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pay 31.1% more for housing

	Panama City	Toronto
Internet connection 50 mbps or faster, cable/dsl	$48.70 PAB48.70	$47.87 CA$67.77	-1.7%
1-Bedroom apartment in downtown area	$1,262.50 PAB1,262.50	$1,584.56 CA$2,243.34	+25.5%
1-Bedroom apartment outside city center	$874.18 PAB874.18	$1,416.89 CA$2,005.96	+62.1%
Utilities for two (700 sq ft apartment) including electric, gas, water, heating	$100.29 PAB100.29	$92.23 CA$130.57	-8.0%
Average			+31.1%

Panama City vs. Toronto - Cost of housing

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pay 92.3% more for childcare

	Panama City	Toronto
Private preschool for 1 child, monthly	$543.33 PAB543.33	$824.14 CA$1,166.78	+51.7%
Middle school for 1 child, two semesters	$9,641.50 PAB9,641.50	$23,500.21 CA$33,270.42	+143.7%
Average			+92.3%

Panama City vs. Toronto - Cost of childcare

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pay 29.6% more for entertainment and sports

	Panama City	Toronto
Domestic/local beer (1 pint)	$3.30 PAB3.30	$6.31 CA$8.94	+91.3%
Cappuccino in mid-range area	$4.11 PAB4.11	$3.97 CA$5.62	-3.4%
Pack of cigarettes Marlboro or similar	$6.00 PAB6.00	$14.03 CA$19.86	+133.8%
Monthly membership at local gym	$46.40 PAB46.40	$38.35 CA$54.29	-17.4%
Movie ticket to theater/cinema	$8.50 PAB8.50	$12.62 CA$17.87	+48.5%
Average			+29.6%

Panama City vs. Toronto - Cost of entertainment and sports

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pay 8.0% less for clothing

	Panama City	Toronto
Regular jeans Levi's brand	$66.67 PAB66.67	$51.64 CA$73.11	-22.5%
Regular dress from H&M or similar store	$48.43 PAB48.43	$39.51 CA$55.94	-18.4%
Running shoes Nike or Adidas	$94.62 PAB94.62	$98.10 CA$138.88	+3.7%
Men's business shoes (leather)	$111.67 PAB111.67	$122.24 CA$173.06	+9.5%
Average			-8.0%

Panama City vs. Toronto - Cost of clothing

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We average the price of thousands of data points entered by users across the world. Sources: MyLifeElsewhere's cost-of-living dataset (prices updated October 2026). How we calculate this

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