Cost of Living in Bermuda

Estimated Monthly Cost

per person · per month

About Bermuda

Bermuda is a self-governing British Overseas Territory in the North Atlantic, about 650 miles east of North Carolina. It is not part of the Caribbean geographically, though often grouped with it regionally. The population is roughly 63,000, concentrated on a narrow 22-mile-long island chain. The climate is subtropical, with warm summers and mild winters, though hurricane season runs June through November. Daily life centers on Hamilton (the capital) and St. George's. Most residents and expats work in finance, tourism, or professional services. The island is expensive by global standards, with limited land, all goods imported, and a prosperous economy driven by international business and reinsurance.

Bermuda's high cost of living stems from three factors: heavy reliance on imports (nearly everything except fish and some fresh produce), limited land area, and strong demand from finance workers and tourists. Housing dominates household budgets at $1,862/month for a moderate lifestyle. Rental prices depend heavily on neighborhood and whether you rent from a local or through expat-oriented agencies, which often charge premiums. Food and groceries average $980/month because imported goods carry freight and tariffs. A single imported item like cheese or cereal costs 40-60% more than US prices. Transport relies on buses, taxis, scooters, and ferries. A bus pass costs around $65/month; owning a car is expensive due to import duties and limited parking. Expats often pay 15-25% more than locals for the same services. The budget tier ($2,940/month) requires sharing housing and eating mostly at home. The comfortable tier ($7,595/month) allows private housing, dining out regularly, and activities without tracking costs closely.

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