Panama · South America · Population: 880,000
Panama City is moderately affordable compared to major global cities, with steady growth in property values. The city has affordable rents compared to global standards. At $180,000 average home price in Panama, buyers should consider the 7.5x price-to-income ratio when planning a purchase.
| Average Home Price | $180,000 |
| Price per sqm | $2,500 |
| Price-to-Income Ratio | 7.5x |
| Mortgage Rate | 6.5% |
| 1-Year Price Change | +2.5% |
| 1-Bedroom Apartment | $800/mo |
| 3-Bedroom Apartment | $1,400/mo |
| Rent-to-Income Ratio | 32% |
| Median Household Income | $24,000/year |
| Years to Buy (at median income) | 7.5 years |
| Local Currency | USD |
With a price-to-income ratio of 7.5x, Panama City offers reasonable opportunities for homebuyers compared to global averages. Home prices have increased 2.5% in the past year.
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