Cost of living comparison
compared to
Madrid vs. Panama City Cost of Living Summary
Madrid is 20.5% more expensive than Panama City.
- Restaurants
-
pay 20.9% more in Madrid
- Groceries
-
pay 11.7% less in Madrid
- Transportation
-
pay 32.9% more in Madrid
- Housing
-
pay 15.6% less in Madrid
- Childcare
-
pay 37.3% more in Madrid
- Entertainment and Sports
-
pay 7.0% less in Madrid
- Clothing
-
pay 86.8% more in Madrid
The cost of clothing, childcare, transportation, and restaurants in Madrid are more expensive than in Panama City. Expenses including housing, groceries, and entertainment and sports are lower in Madrid. Notably, clothing is significantly more expensive in Madrid.
Madrid vs. Panama City Cost Breakdown
If you lived in Madrid instead of Panama City, you would:
pay 20.9% more for restaurants
|
Panama City
|
Madrid
|
||
|---|---|---|---|
| Basic meal with drink at inexpensive restaurant |
$20.00
|
$18.10
€15.55
|
|
|
Fast food combo meal
McDonalds, or similar
|
$10.50
|
$11.68
€10.03
|
|
| Bottle of Coca-Cola (11 fl. oz) |
$2.12
|
$3.13
€2.69
|
|
| Bottle of water (11 fl. oz) |
$1.63
|
$2.19
€1.88
|
|
Panama City vs. Madrid - Cost of restaurants
pay 11.7% less for groceries
|
Panama City
|
Madrid
|
||
|---|---|---|---|
|
Bread
1 loaf
|
$3.48
|
$1.71
€1.47
|
|
| Local cheese (8 oz) |
$5.49
|
$7.25
€6.22
|
|
| Milk (1 gallon) |
$4.38
|
$4.61
€3.96
|
|
|
Eggs
1 dozen
|
$3.49
|
$3.36
€2.88
|
|
| Boneless chicken breast (1 lb) |
$5.33
|
$4.05
€3.48
|
|
| Apples (1 lb) |
$1.99
|
$1.18
€1.01
|
|
| Bananas (1 lb) |
$0.81
|
$1.02
€0.88
|
|
| Oranges (1 lb) |
$1.20
|
$1.19
€1.03
|
|
| Tomatoes (1 lb) |
$1.90
|
$1.26
€1.08
|
|
| Potatoes (1 lb) |
$1.01
|
$0.94
€0.81
|
|
| Onions (1 lb) |
$1.49
|
$1.01
€0.87
|
|
Panama City vs. Madrid - Cost of groceries
pay 32.9% more for transportation
|
Panama City
|
Madrid
|
||
|---|---|---|---|
| Gasoline (1 gallon) |
$2.89
|
$7.08
€6.08
|
|
| Monthly public transit pass |
$135.00
|
$45.84
€39.37
|
|
| New Volkswagen Golf 1.4 (standard edition) |
$23,000.00
|
$38,541.72
€33,100.05
|
|
| Taxi trip in downtown area (5 miles) |
$19.05
|
$16.23
€13.94
|
|
Panama City vs. Madrid - Cost of transportation
pay 15.6% less for housing
|
Panama City
|
Madrid
|
||
|---|---|---|---|
|
Internet connection
50 mbps or faster, cable/dsl
|
$66.08
|
$34.54
€29.66
|
|
| 1-Bedroom apartment in downtown area |
$1,700.00
|
$1,540.98
€1,323.41
|
|
| 1-Bedroom apartment outside city center |
$1,500.00
|
$1,118.82
€960.85
|
|
|
Utilities for two
(700 sq ft apartment)
including electric, gas, water, heating
|
$127.80
|
$153.78
€132.07
|
|
Panama City vs. Madrid - Cost of housing
pay 37.3% more for childcare
|
Panama City
|
Madrid
|
||
|---|---|---|---|
| Private preschool for 1 child, monthly |
$400.00
|
$673.20
€578.15
|
|
| Middle school for 1 child, two semesters |
$12,338.67
|
$13,119.76
€11,267.39
|
|
Panama City vs. Madrid - Cost of childcare
pay 7.0% less for entertainment and sports
|
Panama City
|
Madrid
|
||
|---|---|---|---|
| Domestic/local beer (1 pint) |
$5.00
|
$4.50
€3.86
|
|
| Cappuccino in mid-range area |
$5.10
|
$3.20
€2.75
|
|
|
Pack of cigarettes
Marlboro or similar
|
$8.00
|
$7.01
€6.02
|
|
| Monthly membership at local gym |
$40.00
|
$51.05
€43.85
|
|
| Movie ticket to theater/cinema |
$12.00
|
$11.68
€10.03
|
|
Panama City vs. Madrid - Cost of entertainment and sports
pay 86.8% more for clothing
|
Panama City
|
Madrid
|
||
|---|---|---|---|
|
Regular jeans
Levi's brand
|
$32.67
|
$98.88
€84.92
|
|
|
Regular dress
from H&M or similar store
|
$35.00
|
$41.27
€35.44
|
|
|
Running shoes
Nike or Adidas
|
$60.00
|
$107.49
€92.31
|
|
| Men's business shoes (leather) |
$85.00
|
$125.44
€107.73
|
|
Panama City vs. Madrid - Cost of clothing
The statistics used to build this comparison are calculated using data from users just like you.
We average the price of thousands of data points entered by users across the world.
Learn more about our data sources. Page last updated: December 2025
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