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Cost of Living in Providencia Island

Understanding the the cost of living in Providencia Island helps a newcomer what to expect when it comes to apartment or house hunting, grocery shopping, transportation, dining out, utilities and more.
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Category Cost
Apartment Rentals
  • 1 bedroom apartment in city center: $300 – $500 per month
  • 1 bedroom apartment outside city center: $200 – $400 per month
  • 3 bedroom apartment in city center: $600 – $1,000 per month
  • 3 bedroom apartment outside city center: $400 – $800 per month
Apartment Purchases
  • Price per square meter in city center: $1,000 – $1,500
  • Price per square meter outside city center: $800 – $1,200
Transportation
  • One-way local transport ticket: $0.80 – $1.00
  • Monthly local transport pass: $30 – $50
  • Taxi starting tariff: $1.50 – $2.00
  • Taxi 1km tariff: $1.00 – $1.50
  • Gasoline (1 liter): $0.80 – $1.00
Groceries
  • Milk (1 liter): $0.80 – $1.20
  • Bread (500g): $1.00 – $1.50
  • Rice (1kg): $1.00 – $1.50
  • Eggs (12): $1.50 – $2.00
  • Cheese (1kg): $4.00 – $6.00
  • Chicken breast (1kg): $3.00 – $5.00
  • Beef round (1kg): $4.00 – $6.00
  • Apples (1kg): $1.50 – $2.50
  • Bananas (1kg): $0.80 – $1.20
  • Oranges (1kg): $0.80 – $1.20
  • Tomatoes (1kg): $1.00 – $1.50
  • Potatoes (1kg): $0.80 – $1.20
  • Onions (1kg): $0.80 – $1.20
  • Water (1.5-liter bottle): $0.50 – $1.00
Restaurants
  • Meal at an inexpensive restaurant: $3.00 – $5.00
  • Meal for two at a mid-range restaurant: $20 – $40
  • Domestic beer (0.5-liter draught): $1.00 – $2.00
  • Imported beer (0.33-liter bottle): $1.50 – $3.00
  • Cappuccino: $1.00 – $2.00
  • Coca-Cola/Pepsi (0.33-liter bottle): $0.50 – $1.00
  • Water (0.33-liter bottle): $0.50 – $1.00
Utilities
  • Basic utilities (electricity, heating, cooling, water, garbage) for an 85m2 apartment: $50 – $100 per month
  • 1 minute of prepaid mobile tariff (no discounts or plans): $0.05 – $0.10
  • Internet (60 Mbps or more, unlimited data, cable/ADSL): $30 – $50 per month
Private School Tuition
  • Preschool (or Kindergarten) tuition: $150 – $300 per month
  • Elementary school tuition: $200 – $400 per month
  • Middle school tuition: $300 – $600 per month
  • High school tuition: $400 – $800 per month

Monthly Budget for Retirees in Providencia Island

“The cost of living in Providencia Island, is relatively affordable compared to major cities in the country. Accommodation prices vary depending on the location and type of housing, but generally, they are reasonably priced. Food and groceries are also quite affordable, with local markets and supermarkets offering a wide range of products at competitive prices. Eating out at local restaurants is also budget-friendly, with many delicious options available at low costs.Transportation on the island is inexpensive, with options such as buses, taxis, and motorbike rentals available at reasonable rates. Healthcare services are accessible and affordable, with public and private facilities providing quality care at lower costs than in larger cities.Entertainment and leisure activities are also reasonably priced, with various options for outdoor activities, cultural events, and nightlife available at affordable rates. Overall, the cost of living in Providencia Island is relatively low, making it an attractive destination for those looking to enjoy a laid-back lifestyle in a beautiful Caribbean setting,” said one expat living in Providencia Island.

Can I live in Providencia Island on $1,500 a month?

“I’ve been living in Providencia Island for a while now, and I can tell you that it’s possible to live comfortably on $1,500 a month, but you’ll have to make some sacrifices. The island is small, so there aren’t really specific neighborhoods to recommend, but I can give you some tips on how to make it work.First, you’ll need to find affordable housing. Rent can vary depending on the location and the type of accommodation you choose. If you’re willing to live in a more modest apartment or share a house with roommates, you can find a place for around $300-$500 a month. If you want something more upscale, you’ll have to pay more, which might not be feasible on your budget.Next, you’ll need to be mindful of your spending on food and groceries. Eating out can be expensive, especially in touristy areas. I recommend cooking at home as much as possible and shopping at local markets for fresh produce. You can save a lot of money by doing this, and it’s also a great way to immerse yourself in the local culture.Transportation on the island is relatively cheap, as you can get around by bus, taxi, or even rent a scooter. However, if you want to save even more, consider walking or biking to your destinations. It’s a small island, so it’s definitely doable.As for entertainment and leisure activities, you’ll have to be selective. Going out for drinks or participating in tourist activities can add up quickly. Instead, take advantage of the island’s natural beauty and enjoy free activities like hiking, swimming, and exploring the beaches.Lastly, be prepared to live a more minimalist lifestyle. You might not have access to all the modern amenities you’re used to, like high-speed internet or a wide variety of shopping options. Embrace the slower pace of life and focus on the experiences and connections you make with the locals.In conclusion, living on $1,500 a month in Providencia Island is possible, but it requires some sacrifices and adjustments to your lifestyle. By being mindful of your spending and embracing the local culture, you can make it work and have a truly unique experience,” commented an expat living in Providencia Island.

Can I live in Providencia Island on $3,500 a month?

“I’ve been living in Providencia Island for a while now, and I can tell you that it’s definitely possible to live comfortably on $3,000 a month, even if you’re used to modern amenities. However, you might have to make some sacrifices to make it work. For example, you might not be able to dine out at fancy restaurants as often as you’d like, or you might have to cut back on some of your entertainment expenses.In terms of housing, you’ll want to look for affordable neighborhoods like Santa Isabel or Pueblo Viejo. These areas are more budget-friendly and still offer a decent quality of life. You can find a nice apartment or house for around $800 to $1,200 a month, depending on the size and location. On the other hand, you might want to avoid more expensive neighborhoods like Freshwater Bay or Southwest Bay, as the cost of living there can be significantly higher.When it comes to transportation, you can save money by using public transportation or renting a scooter instead of owning a car. The island is small, so getting around isn’t too difficult. Plus, you’ll be able to enjoy the beautiful scenery as you travel.Groceries and other household expenses can be a bit more expensive on the island compared to the mainland, but if you shop at local markets and buy fresh produce, you can still keep your costs down. You might also want to consider cooking at home more often instead of eating out, as restaurant prices can add up quickly.Overall, living on Providencia Island on a $3,000 a month budget is doable, but you’ll need to be mindful of your spending and make some adjustments to your lifestyle. By choosing a more affordable neighborhood, using public transportation, and being conscious of your grocery and entertainment expenses, you can enjoy a comfortable life on this beautiful island,” said one expat living in Providencia Island.

Can I live in Providencia Island on $5,000 a month?

“I’ve been living in Providencia Island for a while now, and I can tell you that it’s definitely possible to live comfortably on $5,000 a month, even 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 choose a neighborhood that’s more affordable. I’d recommend looking into areas like Santa Catalina or San Felipe, which are both beautiful and relatively inexpensive. On the other hand, you might want to avoid neighborhoods like Freshwater Bay or Southwest Bay, as they tend to be more expensive due to their prime locations and tourist appeal.When it comes to housing, you’ll likely need to opt for a smaller apartment or house, as larger properties can be quite pricey. However, you should still be able to find a comfortable place with all the necessary amenities within your budget.As for transportation, you might need to rely more on public transportation or even rent a scooter, as owning a car can be quite expensive on the island. This shouldn’t be too much of an issue, though, as the island is relatively small and easy to navigate.In terms of food and groceries, you’ll want to shop at local markets and avoid imported goods, as they can be quite pricey. Eating out can also be expensive, so you might need to cook more at home to save money. However, there are still plenty of affordable local restaurants where you can enjoy delicious Colombian cuisine without breaking the bank.Finally, you might need to cut back on some of your entertainment expenses, such as going out to bars or clubs, as these can be quite costly. Instead, you can explore the island’s natural beauty, go for hikes, or enjoy the beach, all of which are free or low-cost activities.Overall, living in Providencia Island on $5,000 a month is definitely doable, but you’ll need to be mindful of your spending and make some sacrifices to ensure you stay within your budget,” commented an expat living in Providencia Island.

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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