Cost of living in Tocumen
Tocumen, located in Panama, is a vibrant area known for its proximity to the country's main international airport. Understanding the cost of living in Tocumen is crucial for both residents and newcomers, as it encompasses various essential expenses such as housing, dining, and transportation.
This guide provides a detailed breakdown of the cost of living in Tocumen, offering insights into what you can expect to pay for everyday necessities and lifestyle choices in 2024.
Cost of Living Summary
Dining and Restaurants
- Inexpensive Restaurant Meal - A meal at a casual restaurant will typically cost $5 on average, with a range between $5 and $20.
- Mid-Range Restaurant (Three-Course Meal for Two) - For a more upscale dining experience, expect to pay around $60, with prices ranging from $40 to $86.87.
- Fast Food (e.g., McDonald's) - A McMeal or equivalent combo meal averages $8, with a range between $7 and $9.5.
- Beverages (e.g., Domestic Beer, Imported Beer, Cappuccino, Coke/Pepsi) - Domestic beer ranges from $1.5 to $4, imported beer $3 to $6, cappuccino $2 to $5, and Coke/Pepsi $1 to $3.
Grocery Prices
- Milk - Milk is priced between $1.49 and $2 per liter, averaging $1.8.
- Bread (Loaf of Fresh White Bread) - A loaf of fresh white bread costs between $1.1 and $3.97, with an average price of $2.51.
- Eggs (Dozen) - A dozen eggs range from $1.2 to $3.6, averaging $2.65.
- Fruits (e.g., Apples, Oranges) - Apples cost $1.5 to $5 per kg, while oranges range from $1 to $6.5 per kg.
- Vegetables (e.g., Potatoes, Lettuce) - Potatoes are priced between $1 and $3 per kg, and lettuce costs $1.25 to $3.49 per head.
Transportation
- Fuel (Gasoline) - Gasoline is priced between $0.88 and $1.2 per liter.
- Taxi Fares - Taxi fares start at $2, with a cost of $1 to $4 per km and $14 to $25 per hour of waiting.
- Car Purchase - A new Volkswagen Golf costs between $15,000 and $20,000, while a Toyota Corolla ranges from $20,000 to $25,000.
Housing Costs
- 1-Bedroom Apartment Rent (City Centre) - Data not provided for Tocumen.
- 1-Bedroom Apartment Rent (Outside Centre) - Data not provided for Tocumen.
- 3-Bedroom Apartment Rent (City Centre) - Data not provided for Tocumen.
- 3-Bedroom Apartment Rent (Outside Centre) - Data not provided for Tocumen.
Utilities
- Basic Utilities (Electricity, Heating, Water, etc.) - Basic utilities for an 85m2 apartment cost between $80 and $212.5, averaging $123.04.
- Internet - Internet services range from $40 to $78, with an average cost of $50.86.
Cost of Living Rankings
The cost of living indices for Panama are compared to New York City (NYC), which serves as the baseline with an index of 100. These provide insights into the relative cost of living in different cities in Panama, covering factors like consumer goods, rent, and purchasing power.
Cost of Living Data
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"Key Takeaways"
Tocumen offers affordable dining options, with inexpensive meals available for as low as $5.
Grocery prices are moderate, with essentials like milk and bread priced reasonably.
Transportation costs are relatively low, especially for gasoline and taxi services.
Utility costs are manageable, with basic services averaging around $123.04 per month.
Conclusion
In conclusion, Tocumen presents a cost-effective living environment, particularly in terms of dining and transportation.
While housing data is limited, the available information suggests that other living expenses are quite affordable.
Prospective residents can expect a balanced cost of living, making Tocumen an attractive option for those looking to reside in Panama.