Cost of Living in Bermuda

Summary: The cost of living in Bermuda is generally high, especially when compared to other countries. A nice one bedroom apartment in Bermuda can cost anywhere from $2,000 to $3,000 per month in US Dollars. A nice two bedroom apartment can cost anywhere from $3,000 to $4,500 per month in US Dollars. The cost of dinner at a moderately priced restaurant in Bermuda is usually around $50 per person in US Dollars.

Is the cost of living in Bermuda high?

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

"The cost of living in Bermuda is generally higher than in other countries due to the high import taxes and the fact that most goods and services must be imported. Rent and utilities tend to be more expensive than in other countries, and the cost of food and other necessities can also be higher. Transportation costs can also be high, as there is no public transportation system and most people rely on taxis or private vehicles," explained one expat living in Bermuda.

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Will I save money living in Bermuda?

"Living in Bermuda may be more expensive than living in the United States due to the higher cost of living. The cost of food, housing, transportation, and other necessities are generally higher in Bermuda than in the United States. Additionally, Bermuda has a higher sales tax rate than the United States, which can add to the cost of living. However, Bermuda does not have an income tax, which can help offset some of the higher costs," said one person in Bermuda.

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What is the average cost of housing in Bermuda?

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

"Rent is expensive in Bermuda. But as the lifestyle is so much more focused on being outdoors I chose to rent a tiny one bedroom place - I only really use it to sleep anyway," remarked one expat in Bermuda.

"Much, much higher than in Canada and, according to my American friends, also higher than most US places. However, we pay no income tax -- although there is a 5% payroll tax levied -- nor do we have sales tax. To purchase, the 'average' two-bedroom cottage sells for $950,000 and two-bedroom condo goes for $725,000. That's US $ and these are available only for purchase by Bermudians," explained one expat living in Bermuda.

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What are typical rental prices for expats in Bermuda?

"The rental price for a nice 1 bedroom apartment in Bermuda can range from around $1,500 to $2,500 per month, while a nice 2 bedroom apartment can range from around $2,000 to $3,500 per month," wrote one expat.

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What appliances are typically included in a rental?

We asked foreigners in Bermuda 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:

"Rental properties in Bermuda typically include a refrigerator, stove, oven, dishwasher, and washer and dryer. Depending on the property, other appliances such as a microwave, toaster, and coffee maker may also be included," commented one expat living in Bermuda.

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Cost of Living in Bermuda

Is the cost of living in Bermuda high?

Will I save money living in Bermuda?

What is the average cost of housing in Bermuda?

What are typical rental prices for expats in Bermuda?

What appliances are typically included in a rental?

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