A lot has been said about the cost of living in Costa Rica, and for the most part we can safely say that you can save money on services such as medical and dental care, cost of communications, fresh food; but your costs for other commodities such as cars and electronics will be higher. In Costa Rica your lifestyle choices have a huge influence on how much you need to spend on a month to month basis
Numbeo is one of the largest databases in the world about cities and countries worldwide gathering data contributed by the users themselves. It provides current information on world living conditions including the cost of living.
When it comes to the cost of living it takes into consideration parameters such as the cost of renting a house, purchasing real estate, restaurant prices, transportation, utilities, etc.
According to this database the average “Cost of living in Costa Rica is 23.08% lower than in United States.” It should be noted that Rent in Costa Rica is 55.24% lower than in United States (average data for all cities.
In comparison to other Central American countries living in Costa Rica will cost you more. For example, the cost of living in El Salvador is 13.72% lower than in Costa Rica, Nicaragua is 17.99% cheaper than Costa Rica, Guatemala 17.45% cheaper and Honduras factors in at 22.27% lower than in Costa Rica. It should be noted that Panama, which is a popular expat destination, is only 5.89% lower than that of Costa Rica.
When you compare the cost of living in New York City versus the cost of living in San Jose Costa Rica, Numbeo shows: “You would need around $7,575.00 in New York, NY to maintain the same standard of life that you can have in San Jose for $3,100.00 (assuming you rent in both cities).
Other examples taken from the Numbeo are;
Los Angels compared to Costa Rica is 34.63% higher.
Houston, Texas compared to Costa Rica is 9.8% higher
Calgary, Alberta, Canada compared to Costa Rica is 20.46% higher
(If you want to run more comparisons or get more details just go to: https://www.numbeo.com/cost-ofliving/)
Do you have questions about this article, or buying a home in Costa Rica? Contact us!
There is however one factor that cannot be put in a database and collected, and that is regarding “Quality of life”. One of the most noted reasons that individuals leave their home country, is to find a lifestyle that is less chaotic and demanding. They strive to have and enjoy peaceful surroundings, where everyday life is more in tune with how people should be able to live.
Life in Costa Rica offers a unique opportunity for those that seek an alternative existence, where lifestyle choices mean healthier eating and participation in activities that nourish the soul.
The point we are making is that you can have all of this, and depending on your lifestyle choices, for much less that where you are now.
Come visit and discover your destiny. Our team of professionals have years of experience here in Costa Rica and have already made those choices. They Know!!!