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David, Panama

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David, Panama: Retiring, Cost of Living and Lifestyle

The Cost Of Living In David, Panama

Panama uses the U.S. dollar.

Apartment Or House Ownership Budget (For A Couple)

 
Expense Monthly Cost Notes
Mortgage US$0 Most homes in the area are affordable and can be paid for at closing.
HOA Fees US$0 Planned communities aren’t common in the area but there are some start-ups.
Property Taxes Highly variable.

Property tax rate is only 0.5% for property values from US$120,001 to US$250,000, while properties with values of US$250,001 and above pay a rate of 0.7%.

Transportation US$60 Monthly gas for a private car.
Gas US$6 A tank of cooking gas will generally last longer than 1 month.
Electricity US$100 Using A/C at night.
Water US$4.50 If you’re over 65 your bill is reduced.
Cell Phone US$5 and up You can purchase calling cards, there’s no need for a set plan.
Internet US$74 1,000 Mbps, 2 Cable boxes.
Cable TV Bundled with internet. English channels included.
Household Help US$120 US$15 a day twice a week.
Entertainment US$472 Eating out twice a week at a mid-range, local restaurant: US$100.
Local drinks twice a week at a nearby watering hole: US$15.
Movie theater trip twice a month: US$12 (US$3 per ticket for retirees).
Groceries US$400 Depends on how many imported goods you buy.
Gym Membership US$50
Medical Appointment US$10 For a private consult at a local clinic.
TOTAL US$1,301

Apartment Or House Rental Budget (For A Couple)

 
Expense Monthly Costs Notes
Rent US$1,000 There’s a wide range of rental properties in the area.
Transportation US$60 Monthly gas for a private car.
Gas US$6 A tank of cooking gas will generally last longer than 1 month.
Electricity US$100 Using A/C at night.
Water US$4.50 If you’re over 65 your bill is reduced.
Cell Phone US$5 and up You can purchase calling cards, there’s no need for a set plan.
Internet US$74 1,000 Mbps, 2 Cable boxes.
Cable TV Bundled with internet. English channels included.
Household Help US$120 US$15 a day twice a week.
Entertainment US$472 Eating out twice a week at a mid-range, local restaurant: US$1000.
Local drinks twice a week at a nearby watering hole: US$15.
Movie theatre trip twice a month: US$12 (US$3 per ticket for retirees).
Groceries US$400 Depends on how many imported goods you buy.
Gym Membership US$50
Medical Appointment US$10 For a private consult at a local clinic.
TOTAL US$2,301

Penny-Pincher’s Budget (Bare Minimum Costs, For A Couple)

 
Expense Monthly Costs Notes
Rent US$500 Cheaper options are available but require on-the-ground research and negotiations.
Transportation US$20 Most of the city is walkable, but you’d want to get a taxi for further trips or large purchases.
Gas US$6 A tank of cooking gas will generally last longer than 1 month.
Electricity US$20 Only using fans. A/C will increase bill significantly.
Water US$4.50 If you’re over 65 your bill is reduced.
Cell Phone US$5 You can purchase calling cards, there’s no need for a set plan.
Internet US$22 Basic plan.
Cable TV US$20 Basic plan.
Entertainment US$60 Eating out twice a week at a local fonda: US$15 (US$7.50 per meal for two people).
Groceries US$200 All local-brand items only, shopping at markets and grocery stores.
TOTAL US$857

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