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Cost of Living in Bahamas

By Betsy Burlingame

Last updated on Nov 27, 2021

Summary: What is the cost of living in Bahamas? Expats, digital nomads and retirees living in Bahamas talk about the general living costs, the cost of housing and health insurance.

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Allianz Care International Health Insurance

Is the cost of living in Bahamas high?

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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," explained one expat.

"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," said another person in New Providence.

William Russell's private medical insurance will cover you and your family wherever you may be. Whether you need primary care or complex surgery, you'll have access to the best hospitals & doctors available. Unlike some insurers, we also include medical evacuation and mental health cover in our plans (except SilverLite). Get a quote from our partner, William Russell.

Will I save money living in Bahamas?

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"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," added another person living in Coral Harbour.

"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," explained one expat living in New Providence.

What is the average cost of housing in Bahamas?

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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," added another person living 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," explained one expat living in Nassau.

"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," said another in Nassau.

William Russell Health Insurance

William Russell's private medical insurance will cover you and your family wherever you may be. Whether you need primary care or complex surgery, you'll have access to the best hospitals & doctors available. Unlike some insurers, we also include medical evacuation and mental health cover in our plans (except SilverLite). Get a quote from our partner, William Russell.

Learn MoreGET A QUOTE

William Russell Health Insurance

William Russell's private medical insurance will cover you and your family wherever you may be. Whether you need primary care or complex surgery, you'll have access to the best hospitals & doctors available. Unlike some insurers, we also include medical evacuation and mental health cover in our plans (except SilverLite). Get a quote from our partner, William Russell.

Learn MoreGET A QUOTE

What are typical rental prices for expats in Bahamas?

Live in Bahamas? Answer this Question

" 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," remarked another expat living in Nassau.

What appliances are typically included in a rental?

Live in Bahamas? Answer this Question

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:

"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 another expat in Nassau.

About the Author

Betsy Burlingame Betsy Burlingame is the Founder and President of Expat Exchange and is one of the Founders of Digital Nomad Exchange. She launched Expat Exchange in 1997 as her Master's thesis project at NYU. Prior to Expat Exchange, Betsy worked at AT&T in International and Mass Market Marketing. She graduated from Ohio Wesleyan University with a BA in International Business and German.

Some of Betsy's articles include 12 Best Places to Live in Portugal, 7 Best Places to Live in Panama and 12 Things to Know Before Moving to the Dominican Republic. Betsy loves to travel and spend time with her family. Connect with Betsy on LinkedIn.

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William Russell Health InsuranceExpat Health Insurance

Get a quote for international health insurance from our partner, William Russell.
GET A QUOTE

William Russell Health InsuranceExpat Health Insurance

Get a quote for international health insurance from our partner, William Russell.
GET A QUOTE

Bahamas GuideBahamas Guide
Learn what members have to say about living in Bahamas.

Bahamas Forum Bahamas Forum
Talk with other digital nomads and expats in Bahamas on our Bahamas forum - meet people, get advice and help others.

Bahamas Index Bahamas Index
An index of all of our site's Bahamas information.

Contribute to Bahamas Network Contribute
Help others in Bahamas by answering questions about the challenges and adventures of living in Bahamas.

Expat Healthcare Advice in BahamasHealthcare & Health Insurance in Bahamas

Expats in Bahamas offer advice about healthcare, hospital visits, emergency rooms visits, finding a doctor and buying health insurance in Bahamas.

Expat Talk about Healthcare Advice in BahamasMembers Talk about Healthcare & Health Insurance in Bahamas

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Real estate listings in popular cities and towns in Bahamas.

Guide to Real Estate in BahamasGuide to Real Estate in Bahamas

Advice for people renting and buying real estate in Bahamas.

Pros Cons of Living in BahamasPros & Cons of Living in Bahamas

Take off your rose-colored glasses and learn what digital nomads & expats have to say about the biggest challenges and the greatest rewards of living in Bahamas.

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Digital Nomads & Expats offer insight into the cost of living in Bahamas.

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