The Cheapest Caribbean Island to Live on in 2025

With the Caribbean’s gorgeous, secluded beaches and low-stress environment, the cheapest Caribbean island to live on is ideal for Americans and other foreigners looking to lower their monthly expenses in a tropical paradise with a rich culture.

Several Caribbean islands stand out for their affordability compared to others in the region. Jamaica and the Dominican Republic are often mentioned for having low monthly expenses. Belize and Panama come up in conversations due to their low taxes and financial perks for retired expats. Many people settle in Dominica and St Lucia due to their affordable real estate options.

This detailed guide compares the options for Caribbean islands that offer an affordable lifestyle for expats.

• Cheapest Caribbean island to live on
• Tips for moving to affordable Caribbean islands
• Comparing the cost of living in Caribbean countries

The Cheapest Caribbean Islands to Live On

Suppose you’ve experienced the best cheap Caribbean vacations and plan to retire in the Caribbean; you’ll have other factors to consider when searching for the cheapest Caribbean islands to live on.

1. Dominica

Dominica’s living cost is low compared to the United States or Europe. Whether leasing rental apartments or buying property, Dominica’s offers the cheapest Caribbean real estate prices. As one of the most affordable Caribbean islands, foreigners can purchase property that offers views of the Caribbean Sea for as little as $400,000. The tax benefits of Dominica real estate also include no annual property taxes for real estate outside Canefield and Roseau.

Dominica provides the cheapest option for people to move to the Caribbean permanently. Foreign nationals and up to three dependents can obtain citizenship for a minimum investment of $200,000 through a non-refundable contribution to the country’s government fund.

2. Dominican Republic

The Dominican Republic is a favored destination among Americans seeking cheap Caribbean destinations to relocate to and save money.

As the cheapest place to live in the Caribbean, the tropical haven offers an affordable cost of living compared to the US, EU, and other islands in the Caribbean region. Housing, groceries, transportation and restaurant prices are relatively inexpensive and much lower than in the United States.

Expats can purchase low-cost fresh produce from local markets like Mercado Modelo. Public transportation, like “carros públicos” (shared taxis) and buses, is both accessible and affordable. However, due to high import taxes and fuel prices, vehicle ownership tends to be more expensive.

Monthly costs for a couple are between $1,200 and $2,000, including rent. Utility costs are also reasonable, with an average monthly cost of basic utilities at $60. On average, expats can rent a centrally located one-bedroom apartment for as little as $450 and the cost to purchase real estate is one of the lowest in the Caribbean.

While the cost of living is cheap, the crime rate remains higher than most Caribbean countries, meaning you’ll likely pay more than average to live in safe neighborhoods and towns.

3. St Lucia

St Lucia is one of the cheapest Caribbean islands on which to live a laid-back lifestyle. The cost of living in St Lucia is lower than in many other Caribbean countries, the United States, and Europe. Not only does St Lucia offer the most bang for your buck, but it provides residents with a high quality of life in a vibrant culture.

Renting a one-bedroom apartment in Castries’s city center will cost around $510 per month. In comparison, renting a one-bedroom apartment outside the city center will cost around $370 per month. Monthly expenses for utilities are almost half the price of the United States with an average cost of $110 versus $205 in the USA.

Add Your Heading Text Here

Caribbean Cost Calculator

"*" indicates required fields

Calculate the cost of Caribbean citizenship for you and your family, including all associated fees

First Name*

Last Name*

Phone Number*

Email Address*

Nationality*

Please selectCanadaUnited StatesUnited KingdomAlbaniaAndorraAngolaAnguillaAntarcticaAntigua and BarbudaArgentinaArmeniaArubaAustraliaAustriaAzerbaijanBahamasBahrainBangladeshBarbadosBelarusBelgiumBelizeBeninBermudaBhutanBoliviaBonaire Sint Eustatius and SabaBosnia and HerzegovinaBotswanaBouvet IslandBrazilBritish Indian Ocean TerritoryBrunei DarussalamBulgariaBurkina FasoBurundiCabo VerdeCambodiaCameroonCayman IslandsCentral African RepublicChadChileChinaChristmas IslandCocos (Keeling) IslandsColombiaComorosCongoThe Democratic Republic of the CongoCook IslandsCosta RicaCote D IvoireCroatiaCubaCuraçaoCyprusCzechiaDenmarkDjiboutiDominicaDominican RepublicEcuadorEgyptEl SalvadorEquatorial GuineaEritreaEstoniaEswatiniEthiopiaFalkland Islands (Malvinas)Faroe IslandsFijiFinlandFranceFrench GuianaFrench PolynesiaFrench Southern TerritoriesGabonGambiaGeorgiaGermanyGhanaGibraltarGreeceGreenlandGrenadaGuadeloupeGuamGuatemalaGuersneyGuineaGuinea-BissauGuyanaHaitiHeard Island and Mcdonald IslandsHoly See (Vatican City State)HondurasHong KongHungaryIcelandIndiaIndonesiaIslamic Republic of IranIraqIrelandIsle of ManIsraelItalyJamaicaJapanJerseyJordanKazakhstanKenyaKiribatiNorth KoreaSouth KoreaKuwaitKyrgyzstanLaosLatviaLebanonLesothoLiberiaLibyaLiechtensteinLithuaniaLuxembourgMacaoMadagascarMalawiMalaysiaMaldivesMaliMaltaMarshall IslandsMartiniqueMauritaniaMauritiusMayotteMexicoFederated States of MicronesiaRepublic of MoldovaMonacoMongoliaMontenegroMontserratMoroccoMozambiqueMyanmarNamibiaNauruNepalNetherlandsNew CaledoniaNew ZealandNicaraguaNigerNigeriaNiueNorfolk IslandNorth MacedoniaNorthern Mariana IslandsNorwayOmanPakistanPalauPalestinePanamaPapua New GuineaParaguayPeruPhilippinesPitcairnPolandPortugalPuerto RicoQatarRéunionRomaniaRussian FederationRwandaSaint BarthélemySaint Helena Ascension Island Tristan da CunhaSaint Kitts and NevisSaint LuciaSaint MartinSaint Pierre and MiquelonSaint Vincent and the GrenadinesSamoaSan MarinoSao Tome and PrincipeSaudi ArabiaSenegalSerbiaSeychellesSierra LeoneSingaporeSint MaartenSlovakiaSloveniaSolomon IslandsSomaliaSouth AfricaSouth Georgia and the South Sandwich IslandsSouth SudanSpainSri LankaSudanSurinameSvalbard and Jan MayenSwedenSwitzerlandSyrian Arab RepublicTaiwanTajikistanUnited Republic of TanzaniaThailandTimor-LesteTogoTokelauTongaTrinidad and TobagoTunisiaTurkeyTurkmenistanTurks and Caicos IslandsTuvaluUgandaUkraineUnited Arab EmiratesUnited States Minor Outlying IslandsUruguayUzbekistanVanuatuVenezuelaViet NamVirgin Islands (British)Virgin Islands (US)Wallis and FutunaWestern SaharaYemenZambiaZimbabwe

Family Structure

Spouse

Yes

No

Children under 25

Yes

No

Parents over 55

Yes

No

Siblings up to 25

Yes

No

Consent*

I have read and agree to the Privacy Policy and to receive customized advice and email communications.*

This field is hidden when viewing the form

REFERRER

This field is hidden when viewing the form

ENTRY PAGE

This field is hidden when viewing the form

UTM SOURCE

This field is hidden when viewing the form

UTM MEDIUM

This field is hidden when viewing the form

UTM CAMPAIGN

This field is hidden when viewing the form

UTM TERM

This field is hidden when viewing the form

UTM CONTENT

This field is hidden when viewing the form

UTM CPC

This field is hidden when viewing the form

All fields

Form Submission - GF9: Caribbean Cost Calculation ∞ DNA Name: Phone: Email: Nationality: ⭑ FAMILY STRUCTURE Spouse: Children under 25: Parents over 55: Siblings up to 25:

Tips for Moving and Living in the Caribbean

1. Compare the cost of living: The cost of living in Caribbean countries varies significantly, and how cost-effective Caribbean islands are varies from one person to another. Islands like the Dominican Republic and Grenada are known for their affordable housing, utilities, and daily expenses. In contrast, some expats prioritize low-tax living in St Kitts and Nevis and Antigua and Barbuda.
2. Consider residency options: Several Caribbean nations, including Grenada, Dominica, and Saint Lucia, offer Caribbean citizenship by investment programs that attract foreign capital by allowing foreigners to obtain citizenship and permanent residency by investing.
   Evaluate housing expenses: Renting in the Caribbean is much more affordable than in the United States. The best Caribbean islands to buy property in are also worthy options, with houses available for as little as $100,000. Consider buying a home outside major tourist areas and city centers for better prices.
3. Factor in healthcare charges: Healthcare quality varies across the Caribbean region. Some have affordable public healthcare facilities, while others rely on private hospitals. Consider international health insurance, as many Caribbean islands, especially smaller ones, have limited medical services.
4. Connect with the expat community: The best Caribbean islands to retire and live a leisurely paced daily life have thriving expat communities. Joining local forums, Facebook groups, or social initiatives provides valuable insights, support, and tips to live a comfortable island life while building friendships.
5. Understand Caribbean taxes: Some Caribbean taxes, like those of St Kitts and Nevis, Antigua and Barbuda, and the Cayman Islands, offer tax-friendly environments with no personal income tax, inheritance, capital gains, or wealth. Consider using tax credits and exemption forms to lower your annual tax obligations.

Comparing the Cheapest Caribbean Islands to Live on

The prices below are based on data from Numbeo.