Cost of Living in Bahamas

Summary: The cost of living in the Bahamas is generally higher than in other parts of the world. A nice one bedroom apartment in the Bahamas can cost anywhere from $1,000 to $2,000 per month in US Dollars. A nice two bedroom apartment can cost anywhere from $1,500 to $3,000 per month in US Dollars. The cost of dinner at a moderately priced restaurant in the Bahamas can range from $20 to $50 per person in US Dollars.

Is the cost of living in Bahamas high?

We asked people how much they someone comfortably live on in Bahamas, they wrote:

"Housing costs vary greatly but the last time I checked you needed to spend $500,000 USD as a minimum on the home in order to qualify for a permanence residence. This number may have risen in the last couple of years as they have talked about changing it to 750,000 or 1 million dollars. Besides that expect to spend at least $800 a month in groceries for a couple that eats well. Restaurants can run fairly expensive at about $50 for dinner for a couple up to thousands of dollars in the fancy places," wrote a person living in Coral Harbour.

"This is of course a loaded question as it depends on your personal level of comfort. As mentioned above there are billionaires living here and so they live a much higher living standard then your average retired couple. We also have teacher friends that are living here on their salaries in 1/12 apartments but living well and going out with friends so if you have enough income to get a permit to reside you can find a way to live here within that means," explained one expat living in New Providence.

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Will I save money living in Bahamas?

"Living in the Bahamas can be significantly more expensive than in the United States. The cost of living in the Bahamas is considerably higher than in the US, so it is unlikely that you would be able to save money living in the Bahamas. Prices for food, housing, and other basic necessities are much higher than in the US, and taxes and insurance costs tend to be higher as well. Additionally, wages and salaries tend to be lower in the Bahamas, which may make it difficult to generate any savings," remarked one expat in Bahamas.

"Yes, we expected it to cost us more and it has. No kidding, this is not a cheap island to retire too. Everything costs more here from groceries to real estate. Expect to spend more then you would in your home country," explained one expat living in Coral Harbour.

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What is the average cost of housing in Bahamas?

If you are thinking about moving to Bahamas, cost of living in probably a key consideration. Expats commented about the cost of housing:

"Rent is about the same but utilities far surpass what we were paying in UAE. That says a lot. I'd say average power bill is $500 month with summer months peaking at $750 and water bills average $150. We do have a private small pool which adds to the cost of both," said one person in Paradise Island.

"About the same in terms of rent. Of course, in Bahamas everything comes furnished. You won't find that in Connecticut. ELECTRICITY here is ridiculously expensive," remarked one expat in Nassau.

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What are typical rental prices for expats in Bahamas?

"The rental price for a nice 1 bedroom apartment in the Bahamas can be quite expensive, with prices often reaching thousands of US Dollars per month. The price of a nice 2 bedroom apartment in the Bahamas can also be quite expensive, often being higher than the cost of a 1 bedroom apartment," commented one expat who moved to Bahamas.

" All on Paradise Island: Smallest one bedroom: 1500-1800, Well furnished one bedroom in nicer area: 1800-2000. Two bedroom: 2000-3500 depending on venue, amenities and furnishings. Three bedroom: 2800-5000. Almost all available units are condo type properties. Some townhome styles and few stand alones. 7000-10000 will get you into ocean club estates condos," said one expat.

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What appliances are typically included in a rental?

We asked foreigners in Bahamas what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included:

"A rental property in the Bahamas typically includes a refrigerator, a washing machine, an oven, and a range. Other appliances such as a dishwasher, a microwave, and a dryer may also be supplied depending on the property. High-end rental homes may come with air conditioning units, additional storage, and larger appliances like a wine cooler," remarked one expat in Bahamas.

"Most rentals are completely furnished with all the main appliances necessary to live. It was hard to find a rental property where we could put our children's room set. Many of the properties are set up for vacationers so much of the furniture is whicker and cheap. A well furnished home is out there, but must be looked for," remarked one expat living in Nassau.

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Cost of Living in Bahamas

Is the cost of living in Bahamas high?

Will I save money living in Bahamas?

What is the average cost of housing in Bahamas?

What are typical rental prices for expats in Bahamas?

What appliances are typically included in a rental?

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