Cost of Living in Bermuda

"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 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," remarked one expat in Bermuda.

"The cost of housing in Bermuda is generally quite high, with the average price for a single-family home ranging from $500,000 to $2 million. Renting is also expensive, with the average cost of a one-bedroom apartment ranging from $1,500 to $3,000 per month," explained one expat.

"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," said one person 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," said one expat.

"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.