The Cost to Live in Puerto Rico

How does life on the “Island of Enchantment” sound? Perhaps you have been dreaming of packing up your bags and moving to Puerto Rico. Who wouldn’t? Puerto Rico has much to offer with stunning beaches, old Spanish forts, waterfalls, and delicious tropical dishes! 

The next question you need to be answered is—what is the cost of living like in Puerto Rico? 

In this Cost of Living Series blog, you will discover that Puerto Rico is a pretty affordable place to live. And the perks don’t end there. 

Continue reading to learn more about what it costs to live in this Caribbean paradise. 

Life in Puerto Rico 

Puerto Rico is known for its warm tropical weather, stunning landscapes, and friendly people. It’s no wonder many people all over the globe move to this lively and exciting island paradise. 

Like much of the cuisine in the Caribbean, the food is to-die-for. Puerto Ricans have strong family values that reflect in how they treat visitors and new residents. Their welcomes are warm and hospitable. When you stay there long enough, you become family, too. 

Their culture is a beautiful mix of African, Spanish, and Taino influences. American culture continues to become more evident through the island’s food, music, and arts. However, Puerto Ricans remain proud of their roots and preserve their traditional cultural traits. 

What Does it Cost to Live in Puerto Rico? 

Compared to the United States, the cost of living in Puerto Rico is less. According to Numbeo.com, Puerto Rico has 8% lower living costs on average. More significantly, the housing costs are far less than that of the United States. Like most countries, living in the city will be more expensive than living outside the center. Still, city life in Puerto Rico is less pricey than in most American metropolitan spots. 

However, food costs are typically higher. This is partly due to the agreement between Puerto Rico and the U.S. of all imports first being shipped to the mainland and then transported to the island. In general, markets and larger restaurants will be more pricey. Family-owned restaurants and street-side food stands, though, are typically quite affordable. 

In the following sections, we will dive further into the cost of living on the charming island of Puerto Rico: 

• Housing 

• Food and Drink 
• Transportation 
• Entertainment 

Housing 

If you plan on retiring on this Caribbean island, most would recommend buying a home rather than renting. Mortgage payments are generally less expensive compared to monthly rent. 

However, rent in Puerto Rico is one of the biggest financial perks when considering making the island your home. Numbeo reports rent costing 53% less than the United States, leaving residents more cash for other necessities and memorable experiences. 

The one drawback of living on the Caribbean island is the chance of hurricanes and tropical storms. In 2017, the island was devastated by Hurricane Maria. Portions of Puerto Rico are still recovering from the financial and physical damages today. 

Fortunately, there are many things you can do to protect your home and your family from catastrophic weather events. Nevertheless, it is a crucial factor to consider when determining if Puerto Rico is the right place for you. 

Below are a couple of more specific examples of rent costs in Puerto Rico: 

• One-bedroom apartment in the city- $580 per month 

• One-bedroom apartment outside the city- $410 per month 

Food and Drink 

One of the largest expenses for those living in Puerto Rico is food. In fact, it takes up almost 40% of a single person’s salary. As briefly mentioned, market foods and quality dining experiences are pretty pricey. Mom and Pop establishments and plentiful food stands are less costly. 

Regarding the price of individual goods, the United States has cheaper products than Puerto Rico. Below are some statistics for reference: 

• Milk (1 gallon)- $6.53 in Puerto Rico, $3.83 in the U.S. 

• Eggs (1 dozen)- $2.88 in Puerto Rico, $2.00 in the U.S. 
• Potato (1 pound)- $1.43 in Puerto Rico, $1.04 in the U.S. 

Transportation 

The best way to get around in your new home of Puerto Rico is by car or another personal vehicle. Public transportation is accessible and generally affordable in the city. However, if you want to go outside the main centers, buses and other public services will not be able to take you there. 

Unfortunately, purchasing a vehicle will have a higher cost compared to the U.S., and gas is slightly more expensive, too. Furthermore, owning a vehicle comes with taxes and government fees. Maintenance is also a significant expense due to the humid tropical weather and road conditions. 

Entertainment 

Most Puerto Ricans rely on dance and music for entertainment. Because of this typical leisure time, the cost of drinks is also relatively inexpensive. For instance, a domestic beer at a local pub will only cost about $2. 

Aside from beach-going and remarkable sightseeing, you may seek forms of entertainment, like shopping or a night out at the movies. All these experiences are affordable and accessible on the island of Puerto Rico. 

CITED: Numbeo.com, Smartasset.com, Internations.org