Cost of living in George Town

George Town, the capital of the Cayman Islands, is known for its vibrant financial sector and beautiful beaches. Understanding the cost of living here is crucial for anyone considering a move or extended stay.

The cost of living in George Town can be quite high, influenced by its status as a major offshore financial center and a popular tourist destination. This guide provides a detailed breakdown of expenses to help you plan your budget effectively.

Cost of Living Summary

Dining and Restaurants

  • Inexpensive Restaurant Meal - A meal at a casual restaurant will typically cost $30.11 on average, with a range between $12.04 and $48.17.
  • Mid-Range Restaurant (Three-Course Meal for Two) - For a more upscale dining experience, expect to pay around $144.51, with prices ranging from $108.39 to $180.64.
  • Fast Food (e.g., McDonald's) - A McMeal or equivalent combo meal averages $15.66, with a range between $12.64 and $18.06.
  • Beverages (e.g., Domestic Beer, Imported Beer, Cappuccino, Coke/Pepsi) - Domestic beer ranges from $3.61 to $9.63, imported beer $7.23 to $12.04, cappuccino $3.61 to $8.43, and Coke/Pepsi $2.41 to $5.42.

Grocery Prices

  • Milk - Milk is priced between $1.81 and $4.64 per liter, averaging $3.1.
  • Bread (Loaf of Fresh White Bread) - A loaf of fresh white bread costs between $3.04 and $7.23, with an average price of $5.02.
  • Eggs (Dozen) - A dozen eggs range from $3.61 to $12.04, averaging $9.61.
  • Fruits (e.g., Apples, Oranges) - Apples cost $3.32 to $13.27 per kg, while oranges range from $5.31 to $13.25 per kg.
  • Vegetables (e.g., Potatoes, Lettuce) - Potatoes are priced between $2.41 and $7.96 per kg, and lettuce costs $2.41 to $12.04 per head.

Transportation

  • Public Transport (One-Way Ticket) - A one-way local transport ticket costs between $2.41 and $3.61, with a monthly pass priced between $18.06 and $42.15.
  • Fuel (Gasoline) - Gasoline is priced between $1.64 and $2.37 per liter.
  • Taxi Fares - Taxi fares start at $12.04, with a cost of $3.85 to $11.22 per km and $18.06 to $90.32 per hour of waiting.

Housing Costs

  • 1-Bedroom Apartment Rent (City Centre) - Rent for a 1-bedroom apartment in the city centre ranges from $2649.42 to $3251.56, averaging $2959.09.
  • 1-Bedroom Apartment Rent (Outside Centre) - Outside the centre, rent ranges from $2107.49 to $3010.71, averaging $2563.4.
  • 3-Bedroom Apartment Rent (City Centre) - Rent for a 3-bedroom apartment in the city centre ranges from $5419.27 to $7827.84, averaging $5987.
  • 3-Bedroom Apartment Rent (Outside Centre) - Outside the centre, rent ranges from $4214.99 to $5419.27, averaging $4765.52.
  • Buying Price per Square Meter (City Centre) - The price per square meter to buy an apartment in the city centre ranges from $6027.7 to $12962.79, averaging $8490.63.
  • Buying Price per Square Meter (Outside Centre) - Outside the centre, the price per square meter ranges from $3888.84 to $4536.98, averaging $4212.91.

Utilities

  • Basic Utilities (Electricity, Heating, Water, etc.) - Basic utilities for an 85m2 apartment cost between $301.07 and $532.29, averaging $398.54.
  • Internet - Internet services range from $96.34 to $144.51, with an average cost of $112.2.

Cost of Living Data

The following pricing data has been gathered from 49 user contributions, as of the most recent update in October, 2024.
Restaurants
Avg / Range
Meal, Inexpensive Restaurant
$30.11
Meal for 2 People, Mid-range Restaurant, Three-course
$144.51
McMeal at McDonalds (or Equivalent Combo Meal)
$15.66
Domestic Beer (0.5 liter draught)
$7.83
Imported Beer (0.33 liter bottle)
$9.03
Coke/Pepsi (0.33 liter bottle)
$3.84
Water (0.33 liter bottle)
$2.94
Cappuccino (regular)
$6.69
Markets
Avg / Range
Milk (regular), (1 liter)
$3.10
Loaf of Fresh White Bread (500g)
$5.02
Eggs (regular) (12)
$9.61
Local Cheese (1kg)
$12.97
Water (1.5 liter bottle)
$2.81
Bottle of Wine (Mid-Range)
$24.09
Domestic Beer (0.5 liter bottle)
$4.01
Imported Beer (0.33 liter bottle)
$5.32
Cigarettes 20 Pack (Marlboro)
$13.25
Chicken Fillets (1kg)
$14.98
Apples (1kg)
$10.46
Oranges (1kg)
$8.31
Potato (1kg)
$6.61
Lettuce (1 head)
$6.26
Rice (white), (1kg)
$5.92
Tomato (1kg)
$8.22
Banana (1kg)
$4.63
Onion (1kg)
$5.56
Beef Round (1kg) (or Equivalent Back Leg Red Meat)
$16.54
Transportation
Avg / Range
One-way Ticket (Local Transport)
$3.01
Monthly Pass (Regular Price)
$30.11
Gasoline (1 liter)
$1.77
Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car)
$39,139.18
Taxi Start (Normal Tariff)
$18.06
Taxi 1km (Normal Tariff)
$6.02
Taxi 1hour Waiting (Normal Tariff)
$30.11
Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car)
$34,291.94
Rent Per Month
Avg / Range
Apartment (1 bedroom) in City Centre
$2,959.09
Apartment (1 bedroom) Outside of Centre
$2,563.40
Apartment (3 bedrooms) in City Centre
$5,987.00
Apartment (3 bedrooms) Outside of Centre
$4,765.52
Utilities (Monthly)
Avg / Range
Basic (Electricity, Heating, Cooling, Water, Garbage) for 85m2 Apartment
$398.54
Internet (60 Mbps or More, Unlimited Data, Cable/ADSL)
$112.20
Mobile Phone Monthly Plan with Calls and 10GB+ Data
$102.83
Sports And Leisure
Avg / Range
Fitness Club, Monthly Fee for 1 Adult
$87.31
Tennis Court Rent (1 Hour on Weekend)
$40.46
Cinema, International Release, 1 Seat
$18.06
Clothing And Shoes
Avg / Range
1 Pair of Jeans (Levis 501 Or Similar)
$90.32
1 Summer Dress in a Chain Store (Zara, H&M, ...)
$70.75
1 Pair of Nike Running Shoes (Mid-Range)
$129.46
1 Pair of Men Leather Business Shoes
$147.52
Buy Apartment Price
Avg / Range
Price per Square Meter to Buy Apartment in City Centre
$8,490.63
Price per Square Meter to Buy Apartment Outside of Centre
$4,212.91
Salaries And Financing
Avg / Range
Average Monthly Net Salary (After Tax)
$5,976.99
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate
7.75%
Childcare
Avg / Range
Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child
$1,617.18
International Primary School, Yearly for 1 Child
$25,422.40
OverviewJob Market
George Town Cost of Living

"Key Takeaways"

George Town is a relatively expensive city, with high costs in dining, housing, and utilities. The cost of living is influenced by its status as a financial hub and tourist destination.

Housing is particularly costly, especially in the city centre, with significant expenses for both renting and buying properties.

Dining out can also be expensive, especially at mid-range and upscale restaurants, though there are more affordable options available.

Transportation costs are moderate, with affordable public transport options and relatively high taxi fares.

Conclusion

In conclusion, living in George Town, Cayman Islands, requires a substantial budget, particularly for housing and dining. The city's appeal as a financial center and tourist hotspot contributes to its high cost of living.

Prospective residents should plan carefully, considering the high costs of housing and utilities, while also exploring cost-saving measures in other areas such as transportation and groceries.

George Town

Nearby Cities

We don't have any relevant "Quality of life" data on cities with a 200 mile radius of George Town
All cities in Cayman Islands