# Cost of Living

> Cost of living in Panama is 33.8% lower than in the USA according to Numbeo. Rent in Panama City from $880-1,140/month (1BR), family of 4 without rent ~$2,850/month. US Dollar as official currency.

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According to Numbeo, the cost of living in Panama is on average 33.8% lower than in the United States, and rent is 41.7% lower. A family of 4 can expect monthly costs of approximately $2,850 (excluding rent) and a single person around $780. Panama uses the US dollar as its official currency, eliminating currency risks for US investors.

## Resources

- [Numbeo Panama](https://www.numbeo.com/cost-of-living/country_result.jsp?country=Panama)
- [Numbeo Panama City](https://www.numbeo.com/cost-of-living/in/Panama-City)