5 Caribbean islands where it's affordable to live (2024)

A new report fromInternational Living, a website about living and retiring overseas, determined some of the best and most affordable Caribbean Islands to live on.

Amid the Covid-19 pandemic, interest in Caribbean islands has increased: Web traffic for International Living's Caribbean island report was up 225% last month alone, says the website's executive editor, Jennifer Stevens.

"Even though most folks are largely hunkered down, I think people are using this time at home to plan for where they'll go once the world opens up again—and the idea of sun, sand and not-too-long a plane ride has its appeal," Stevens says.

According to Travel Weekly, most Caribbean Islands have reopened to international tourists under certain Covid protocols (which differs for each island). Though the CDC is requiring all international passengers flying into the U.S. from the Caribbean to provide proof of a negative Covid test taken no more than 72 hours prior to the flight.

But with Covid vaccines being distributedaround the world, many experts are optimistic thatlifecould return to some semblance ofnormalcyby the end of theyear.

So if you are thinking about moving to a Caribbean Island or just looking for a getaway, here are the top five most affordable Caribbean Islands, according to International Living.

Ambergris Caye, Belize

As the largest island in Belize, Ambergris Caye is known for housing the Belize Barrier Reef. The island is popular among expats for its reliable internet and cell phone coverage. Regular flights and water taxis also make it easy to head into town, to either Belize City or Chetumal, Mexico, according to International Living.

A couple can live comfortably for around $2,950 to $3,150 per month, which includes the rental of a house or apartment, according to International Living.

Roatan, Honduras

Roatan is just 50 square miles off Honduras' northern coast. It's popular due to its quiet and pristine beaches and the fact that it has no high-rise developments.

According to International Living, $175,000 could buy you a two-bedroom home in Roatan. While daily essentials are more expensive on the island because they have to be imported, an average couple can easily live on a budget of $2,000 to $2,500 a month.

However safety is something to keep in mind when it comes to Honduras.

Isla Mujeres, Mexico

Though Isla Mujeres is only about 8 miles from Cancun, it's more laidback and cheaper, according to International Living.

For example, a one-bedroom, two-bathroom penthouse condo with a view starts at $230,000 to own, and rent for a one-bedroom apartment is around $700 to $1000 a month, according to the site.

While crimes rates in Mexico are high, Isla Mujeres and nearby Cancun are considered safe.

Las Terrenas, Dominican Republic

Las Terrenas is only a short flight from New York City (about three-and-a-half hours) and has some of the best beaches in the world.

A one-bedroom, one-bathroom loft apartment can cost as little at $100,000, according to International Living. And a couple can live comfortably for about around $2,000 to $3,000 a month.

Isla Colón, Panama

Though Isla Colón is known for tourism, it also has a laidback feel for locals, the report says.

Rent for a one-or-two bedroom home could range from as little as $600 to $1,200 a month.

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5 Caribbean islands where it's affordable to live (2024)

FAQs

5 Caribbean islands where it's affordable to live? ›

Haiti, the Dominican Republic, Jamaica, and Cuba show the lowest cost of living. A person living a moderate lifestyle spends less than $550 above rent and utilities. Among countries that offer citizenship-by-investment programs, Grenada and Dominica are the most affordable to live in, with monthly spending under $650.

What Caribbean island is cheapest to live? ›

Haiti, the Dominican Republic, Jamaica, and Cuba show the lowest cost of living. A person living a moderate lifestyle spends less than $550 above rent and utilities. Among countries that offer citizenship-by-investment programs, Grenada and Dominica are the most affordable to live in, with monthly spending under $650.

Which Caribbean island has the best standard of living? ›

Cayman Islands

Grand Cayman is one of the best places to live in the Caribbean. Extremely livable, it has a ton of real estate options, like private islands, and enough variety in terms of lifestyle, culture, and history to suit a wide range of ex-pats.

Where is the best place to retire in the Caribbean? ›

The Top Caribbean Islands to Retire
  • Turks and Caicos. The country still has its sleepy Caribbean vibe and some of the most beautiful beaches but also offers elite culture and bustling nightlife. ...
  • Dominican Republic. ...
  • Belize.
Oct 14, 2022

What is the safest Caribbean island to retire to? ›

Some of the safest islands to venture to in the Caribbean include Antigua and Barbuda, Anguilla, The British Virgin Islands, the Cayman Islands, Martinique, Montserrat, and St Barts. Check out our article: Living in the Caribbean – The Pros and Cons You Need to Know.

What are the best tax free Caribbean islands to live in? ›

The Best Tax-Free Caribbean Islands You can Easily Relocate to
  1. #1 Anguilla. Anguilla is a British Overseas Territory in the Caribbean. ...
  2. #2 Cayman Islands. The Cayman Islands are also a British Overseas Territory (BOT). ...
  3. #3 The Bahamas. ...
  4. #4 Turks & Caicos. ...
  5. #5 British Virgin Islands. ...
  6. #6 Caribbean CBI Countries.

Where is the cheapest tropical place to retire? ›

The Cheapest Places to Retire Abroad on $1,000 Per Month
  • Chiang Rai, Thailand.
  • Corozal, Belize.
  • Cuenca, Ecuador.
  • Granada, Nicaragua.
  • Medellín, Colombia.
  • Tagaytay, The Philippines.
  • Kyrenia, Northern Cyprus.
  • Chitré, Panama.
Mar 30, 2023

Which Caribbean island is self sufficient? ›

For a small Caribbean island, Dominica is amazingly self-sufficient in feeding itself, even exporting food to neighbouring islands.

Which Caribbean island is easiest to move to? ›

It depends on several factors, such as your qualifications and the country's political climate you're trying to immigrate to. However, some of the more accessible Caribbean countries to get citizenship from are Antigua and Barbuda, Dominica, Grenada, Saint Lucia, and Trinidad and Tobago.

Which Caribbean island is the least poor? ›

POVERTY IN THE CARIBBEAN. Antigua and Barbuda may not be 100% free of poverty, but can be a beacon of hope towards its neighbors. At 12% they have the lowest poverty rate in the Caribbean and Central America. Barbados is a close second at 14%, but as of now Antigua and Barbuda is in the lead.

Who has the best healthcare in the Caribbean? ›

Here is a list of the top three Caribbean islands with the best medical care. All healthcare is free in Cuba. There are no private hospitals or clinics. Cuba has produced many world-class doctors who have spearheaded many life-changing developments.

What is the best Caribbean island for US citizens to buy property? ›

In Summary

Because Antigua and Barbuda, St Kitts and Nevis, Dominica, Grenada, and St Lucia offer an easier route for citizenship, they are some of the best islands to buy real estate in the Caribbean.

What is the safest place for Americans in the Caribbean? ›

Top 4 safest Caribbean islands to visit in 2023
  • St. Barts. Saint-Barthélemy, or St. ...
  • Anguilla. The U.S. Department of State named Anguilla one of the safest islands in the Caribbean. ...
  • The Cayman Islands. The Cayman Islands implement some of the strictest gun laws of any Caribbean territory or nation. ...
  • Martinique.
Feb 22, 2023

Which Caribbean island is least affected by hurricanes? ›

Aruba. When travelers think of safe islands to visit during hurricane season, the “ABC Islands” of Aruba, Bonaire and Curacao often come to mind. Of the three, Aruba is the best option for points travelers.

What is the best US territory for retirement? ›

US Virgin Islands

The US Virgin Islands are undoubtedly the best Caribbean islands to retire to if you want all the perks of Caribbean life without the hassle of securing a visa. Since this territory belongs to the United States, US citizens need neither a visa nor a passport to visit or reside here.

Where in the world is the best place to retire? ›

Countries Natixis ranked as secure retirement locations are mostly concentrated in Europe but also include New Zealand and Australia. The top three countries in the rankings are Norway, Switzerland and Iceland, all of which have life expectancies of 83 years, compared to 77 in the U.S. and the world average of 72.

Which Caribbean island has the lowest poverty rate? ›

POVERTY IN THE CARIBBEAN. Antigua and Barbuda may not be 100% free of poverty, but can be a beacon of hope towards its neighbors. At 12% they have the lowest poverty rate in the Caribbean and Central America. Barbados is a close second at 14%, but as of now Antigua and Barbuda is in the lead.

What is the safest Caribbean island to buy real estate? ›

Grenada. Not only can investing in Grenada real estate be a great way to build wealth, but it provides you a second home to vacation at and retires in later in life. It is also known for its white sandy beaches, cascading waterfalls, and being one of the safest Caribbean island countries.

Which Caribbean country has the lowest rate of natural increase? ›

The lowest rates of natural increase were for Barbados (2.8 per 1,000) and Trinidad and Tobago (6.5 per 1,000).

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