Panama City vs Reykjavik
Home Price & Cost of Living Comparison
Live DataLast updated: March 31, 2026·Source: OECD, Numbeo & National Statistics
💡 Why it matters: Panama City vs Reykjavik
Panama City is 60% more affordable for homebuyers. Panama City has a price-to-income ratio of 7.5x compared to 7.8x in Reykjavik.
| Metric | Panama City | Reykjavik |
|---|---|---|
| Avg Home Price | $180,000 | $450,000 |
| Price / sqm | $2,500 | $6,500 |
| Rent (1BR) | $800/mo | $1,500/mo |
| Rent (3BR) | $1,400/mo | $2,500/mo |
| Price-to-Income | 7.5x | 7.8x |
| Mortgage Rate | 6.5% | 7.5% |
| 1yr Change | +2.5% | +2.8% |
| Median Income | $24,000/yr | $58,000/yr |
| Population | 880,000 | 130,000 |
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HomePricePeek Research TeamData Specialists
Our team analyzes data from OECD, Numbeo & National Statistics to deliver accurate, up-to-date information. All data is verified and cross-referenced with official sources.
✓ OECD, Numbeo & National Statistics✓ Updated 2025
Frequently Asked Questions
Is Panama City or Reykjavik more expensive?
Panama City is more affordable. Home prices differ by $270,000 (60%).
Which city has cheaper rent, Panama City or Reykjavik?
Rent for a 1BR in Panama City is $800/mo vs $1,500/mo in Reykjavik.
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