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Expat Exchange - Cost of Living in Grand Bahama 2024
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Cost of Living in Grand Bahama

By Joshua Wood, LPC

Atlantis Bahamas
Atlantis Bahamas

Summary: If you're moving to Grand Bahama, understanding the the cost of living in Grand Bahama helps you know what to expect when it comes to apartment or house hunting, grocery shopping, transportation, dining out, utilities and more.

Category Details Cost
Apartment Rentals 1-bedroom apartment in city center $800 - $1,200 per month
1-bedroom apartment outside city center $600 - $900 per month
Apartment Purchases Price per square meter in city center $1,500 - $2,500
Price per square meter outside city center $1,000 - $1,800
Transportation One-way local transport ticket $1.50 - $2.50
Monthly local transport pass $40 - $60
Gasoline (1 liter) $1.00 - $1.30
Groceries Milk (1 liter) $1.50 - $2.00
Bread (500g) $2.00 - $3.00
Rice (1kg) $2.00 - $3.00
Chicken breasts (1kg) $8.00 - $12.00
Restaurants Meal at an inexpensive restaurant $10.00 - $20.00
Three-course meal for two at a mid-range restaurant $60.00 - $100.00
Fast food meal (e.g., McDonald's) $6.00 - $8.00
Utilities Basic utilities (electricity, heating, cooling, water, garbage) for an 85m2 apartment $150.00 - $250.00 per month
Internet (60 Mbps or more, unlimited data, cable/ADSL) $60.00 - $100.00 per month
Mobile phone (prepaid, no contract) $0.20 - $0.40 per minute
Private School Tuition Preschool (or Kindergarten) $3,000 - $5,000 per year
Elementary School $5,000 - $8,000 per year
Middle School $6,000 - $10,000 per year
High School $8,000 - $12,000 per year
Please note that the costs provided are approximate and can vary depending on the specific location within Grand Bahama, as well as individual preferences and lifestyle choices. It is always recommended to research and compare prices in the area you plan to live in to get a more accurate understanding of the cost of living.

Monthly Budget for Retirees in Grand Bahama

"The cost of living in Grand Bahama is considered to be relatively high compared to other regions. This is largely due to the fact that most goods have to be imported, which increases their price. Housing is one of the most significant expenses, with rental prices varying greatly depending on the location and size of the property. Utilities such as electricity, water, and internet are also quite expensive, as is the cost of gasoline. Food and groceries are also costly, especially for imported items. Dining out, while popular, can also add up quickly due to the high cost of meals in restaurants. Healthcare is another significant expense, with both public and private healthcare systems available. The cost of education can also be high, particularly for private or international schools. Despite these costs, many people find that the high quality of life, beautiful surroundings, and friendly community make the cost of living in Grand Bahama worthwhile. However, it's important to note that the cost of living can vary greatly depending on one's lifestyle and spending habits," said one expat living in Grand Bahama.

Can I live in Grand Bahama on $1,500 a month?

"I've been living in Grand Bahama for a while now, and I can tell you that it's possible to live on $1,500 a month, but you'll have to make some sacrifices and adjustments to your lifestyle. First, you'll need to find an affordable place to live. Some of the more affordable neighborhoods are Caravel Beach, Bahamia, and Lucaya. These areas have more reasonably priced rentals, but you'll likely need to settle for a smaller apartment or a shared living situation to stay within your budget. You should avoid more expensive neighborhoods like Fortune Bay, Old Bahama Bay, and Coral Beach, as they tend to have higher rental prices.Next, you'll need to be mindful of your utility costs. Electricity can be quite expensive in the Bahamas, so you'll want to be conservative with your usage. This might mean using fans instead of air conditioning, and being mindful of turning off lights and appliances when not in use. Additionally, you'll want to conserve water, as water bills can also be high.When it comes to transportation, owning a car can be costly due to high import taxes and gas prices. Instead, consider using public transportation or a bicycle to get around. If you do need a car, look for a fuel-efficient used vehicle to save on costs.Groceries can also be expensive, as many items are imported. To save money, try to shop at local markets and buy fresh produce, fish, and other locally sourced items. You'll also want to cut back on dining out, as restaurant prices can be quite high.Finally, you'll need to be mindful of your entertainment and leisure expenses. While there are plenty of free or low-cost activities to enjoy, such as going to the beach or exploring the island's natural beauty, you'll want to limit your spending on more expensive activities like golfing, boating, or frequent trips to the casino.Overall, living in Grand Bahama on $1,500 a month is doable, but it will require some sacrifices and adjustments to your lifestyle. By being mindful of your spending and seeking out more affordable options, you can make it work and still enjoy the beauty and culture of the Bahamas," commented an expat living in Grand Bahama.

Can I live in Grand Bahama on $3,500 a month?

"I've been living in Grand Bahama for a while now, and I can tell you that it's definitely possible to live comfortably on $3,000 a month, but you'll have to make some adjustments and sacrifices. First, you'll need to find a more affordable neighborhood to live in. Some of the more expensive areas, like Lucaya or Old Bahama Bay, might be out of your budget. Instead, consider looking for a place in neighborhoods like Caravel Beach or Bahamia, where you can find more reasonably priced housing options.When it comes to utilities and other monthly expenses, you'll need to be mindful of your usage. Electricity can be quite expensive here, so try to conserve energy by using energy-efficient appliances and turning off lights and electronics when not in use. Also, be prepared for the occasional power outage, as the island's infrastructure can be a bit unreliable at times.Groceries can also be a bit pricey, especially if you're used to shopping at large chain supermarkets in the US or Europe. To save money, try shopping at local markets and buying fresh produce and seafood from local vendors. This will not only help you save money but also allow you to enjoy some of the delicious local cuisine.Transportation is another area where you can save money. While it's possible to own a car in Grand Bahama, it can be expensive due to import taxes and high gas prices. Instead, consider using public transportation or renting a bicycle to get around. This will not only save you money but also give you a chance to explore the island and interact with the locals.Finally, be prepared to adjust your lifestyle and entertainment options. While there are plenty of things to do in Grand Bahama, some activities and attractions can be quite expensive. Instead of frequenting high-end restaurants and resorts, try exploring the island's beautiful beaches, parks, and nature reserves. There are also plenty of free or low-cost community events and festivals that you can attend throughout the year.Overall, living in Grand Bahama on $3,000 a month is possible, but it will require some adjustments and sacrifices. By being mindful of your spending and embracing the local culture and lifestyle, you can enjoy a comfortable and fulfilling life on this beautiful island," said one expat living in Grand Bahama.

Can I live in Grand Bahama on $5,000 a month?

"I've been living in Grand Bahama for a while now, and I can tell you that it's definitely possible to live comfortably on $5,000 a month, especially if you're used to modern amenities. However, there might be some sacrifices you'll have to make to ensure you stay within your budget.Firstly, you'll want to consider the area you choose to live in. Some of the more expensive neighborhoods, like Old Bahama Bay or Fortune Bay, might be out of your budget if you're trying to stick to $5,000 a month. Instead, I'd recommend looking into more affordable areas like Caravel Beach or Bahamia. These neighborhoods still offer a great quality of life, but at a more reasonable price.One of the sacrifices you might have to make is in terms of housing. While you can still find nice homes or apartments in the more affordable neighborhoods, they might not be as luxurious or spacious as those in the pricier areas. However, I've found that the homes in Caravel Beach and Bahamia are still quite comfortable and modern.Another thing to consider is transportation. Owning a car can be quite expensive here, so you might want to rely on public transportation or even consider getting a bicycle or scooter to get around. This can help you save money on gas and car maintenance.When it comes to groceries and dining out, you'll want to be mindful of your spending. Imported goods can be quite expensive, so try to shop at local markets and buy local produce whenever possible. Eating out can also add up quickly, so try to cook at home more often and limit dining out to special occasions.Lastly, while there are plenty of activities and entertainment options in Grand Bahama, some can be quite pricey. To stay within your budget, you might have to be more selective about the activities you participate in. For example, instead of going on expensive boat tours or excursions, you could opt for more affordable activities like hiking, snorkeling, or exploring the beautiful beaches.Overall, living in Grand Bahama on $5,000 a month is definitely doable, but it will require some adjustments and sacrifices. By choosing a more affordable neighborhood, being mindful of your spending, and prioritizing your activities, you can enjoy a comfortable and fulfilling life in this beautiful island paradise," commented an expat living in Grand Bahama.

About the Author

Joshua Wood Joshua Wood, LPC joined Expat Exchange in 2000 and serves as one of its Co-Presidents. He is also one of the Founders of Digital Nomad Exchange. Prior to Expat Exchange, Joshua worked for NBC Cable (MSNBC and CNBC Primetime). Joshua has a BA from Syracuse and a Master's in Clinical and Counseling Psychology from Fairleigh Dickinson University. Mr. Wood is also a licensed counselor and psychotherapist.

Some of Joshua's articles include Pros and Cons of Living in Portugal, 10 Best Places to Live in Ireland and Pros and Cons of Living in Uruguay. Connect with Joshua on LinkedIn.


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