Cost of Living in Bahamas

"The cost of living in the Bahamas can vary depending on where you choose to live. Generally, prices for food and utilities are on the higher side but other expenses, such as accommodation and transportation, are relatively affordable. Rent is typically high in larger cities and areas popular with tourists, but other areas are more affordable. In general, living in the Bahamas is more expensive than living in the US, but the country offers a unique lifestyle and a beautiful natural environment to enjoy," remarked one expat in Bahamas.

"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.

"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," explained one expat.

"New Providence, Bahamas is not a place that you will retire to with plans to extend your nest egg. The cost of living here is rather high and if you are looking for a place that will allow you to stretch your dollars then look at one of the family islands or another destination. The banking system is quite difficult for foreigners so be prepared to show a lot of paperwork to prove your money is legit and not from criminal activity. The attraction of New Providence for us was the ease of travel, proximity to the USA, English speaking language and favorable tax laws," said one person in New Providence.

"Most of the answers on this forum are from people living on New Providence. Look at other islands. You don't need to live in a gated community on Grand Bahama Island. Rent is reasonable compared to large urban areas in the US. The biggest difference is the taxes. No Income tax, no real estate tax (to a point), no inheritance tax. The VAT (10%) is about what most people pay for sales tax in the US. Duty on imported goods can be high, but that is the only downside that I have encountered," remarked one expat in Bahamas.

"Much much much higher. It varies. USD 3,000 per month will get you a decent apartment. USD 7,000 per month will get you a big house," explained one expat living in Nassau.

" 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," mentioned one expat in Nassau.

"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.

"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," said an 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," commented one expat living in Nassau, Bahamas.