The Cost to Live in the Bahamas

Are you dreaming of the Bahamian lifestyle? Perhaps you are intrigued and inspired by the laid-back islander approach to day-to-day living. Or maybe the vibrant colors both on land and in the sea have caught your eye. 

Whatever the case, if you want to make your dream a reality, it’s time to consider the cost of living on this tropical Caribbean Island. You’ve come to the right place! In this Cost of Living Series blog, you’ll learn all about the typical costs of calling the Bahamas your home. 

Life in the Bahamas 

The Bahamas offers a range of lifestyles, from simple, island-time living to pure paradise luxury. Here, the friendly and stress-free people enjoy beautiful weather, breathtaking tropical views, and a unique Bahama flare that you cannot find anywhere else in the world. 

Many residents of the Bahamas have left their native countries to indulge in the laid-back Caribbean life. It is a popular place for more wealthy individuals to retire. 

Most of the population lives in the two major cities of the Bahamas. In the capital, Nassau, roughly 255,000 of the 390,000 residents enjoy tropical city life. Here, you’ll have all the comforts of home, like banking, shopping, and reputable international schools. 

Additionally, around 50,000 people live in Grand Bahama, offering similar necessities. Note that the bustling cities of the Bahamas are not quite the same as the popular American or European metropolitan hubs. Instead, it’s a beautiful blend of the Caribbean and urban living. 

If you are looking for more affordable living and a simple, slow-paced, and secluded lifestyle, check out the smaller islands. They are far less populated. Here, you’ll truly sink your toes into the sand and enjoy peace and quiet. However, expect to take many trips to the main islands where you’ll need to do much of your shopping, banking, and other necessary tasks. 

What Does it Cost to Live in the Bahamas? 

According to most sources, the Bahamas rank in the top ten most expensive countries. It is undoubtedly one of the most costly islands of the Caribbean, ranking at the top of most lists. 

Therefore, coming from most countries, you will experience higher costs for all the essentials, including: 

• Housing 
• Food and Drink 
• Transportation 

• Entertainment 

One cost of living perk in the Bahamas is the significantly lower tax rates. Additionally, the average cost of housing is technically lower than in the United States. However, this is likely due to the affordable small apartments and homes found on many of the Bahamas’ lesser islands. In the city, costs remain high. 

Housing 

The Bahamas has a wide variety of homes and apartments, from reasonable to extravagant. Renting a typical one-bedroom apartment in one of the major cities may cost you around $928 per month, compared to the US Price of $1,678. Outside of the city, you can expect to pay $725 per month for a one-bedroom apartment, in contrast to the $1,244 average cost in the US. 

Note that your housing may be one of the living costs you can save the most on in the Bahamas. That is if you are willing to compromise on some of the usual comforts of home. Because most goods need to be imported to this Caribbean Island chain, you will quickly discover that everything else is quite costly. 

Food and Drink 

Both visitors and residents rave about the unique and tasty cuisine in the Bahamas. Traditional dishes are influenced by typical Caribbean cooking and the American south, mixed into its own Bahamian style. You’ll commonly see restaurants serving seafood dishes, like conch and rock lobster and peas n’ rice, a tradition in the Caribbean. 

While an inexpensive dining experience in the US may cost around $15, in the Bahamas, you’ll pay an average of $25. Suppose you and your roomie or partner decide to dine out at a mid-range establishment for a three-course meal. In that case, you’ll likely pay a total of $100. While in the United States, your bill will be closer to $65. 

Groceries are typically more expensive, as well. Here are some common examples: 

• Milk (1 gallon)- $12.24 in the Bahamas, $3.45 in the US 

• Bananas (1 pound)- $1.05 in the Bahamas, $0.72 in the US 
• Potatoes (1 pound)- $1.63 in the Bahamas, $1.20 in the US 

Transportation 

Public transportation tends to be more budget-friendly than other methods of getting around. New cars are much more expensive than in the US. For instance, a brand-new Volkswagen Golf is about $24,000 in the US and $30,000 in the Bahamas. Gas is also slightly higher priced than in the US. 

Furthermore, taxis are more costly. So, the most affordable way to get around will be through the public bus system. Better yet, travel by foot or bike. Depending on where you live, foot travel may be possible. 

Entertainment 

If the standard day-to-day essentials are relatively expensive, you can expect leisure activities to be the same. Entertainment can be pricey, especially in major cities. However, with such a stunning landscape, tranquil beaches, and hiking trails, there is plenty to do for nearly no cost. 

CITED: Bahamasguides.co, Numbeo.com, Expatistan.com