Cost of living in Port of Spain
Port of Spain, the vibrant capital of Trinidad and Tobago, is known for its rich culture and bustling economy. Understanding the cost of living here is crucial for anyone considering relocation or planning a visit.
This guide provides a detailed breakdown of expenses, from dining and groceries to housing and transportation, offering a comprehensive view of what to expect financially in 2024.
Cost of Living Summary
Dining and Restaurants
- Inexpensive Restaurant Meal - A meal at a casual restaurant will typically cost $10.33 on average, with a range between $7.38 and $18.45.
- Mid-Range Restaurant (Three-Course Meal for Two) - For a more upscale dining experience, expect to pay around $88.55, with prices ranging from $51.65 to $118.06.
- Fast Food (e.g., McDonald's) - A McMeal or equivalent combo meal averages $7.38, with a range between $6.64 and $8.85.
- Beverages (e.g., Domestic Beer, Imported Beer, Cappuccino, Coke/Pepsi) - Domestic beer ranges from $1.48 to $2.95, imported beer $2.66 to $5.17, cappuccino $1.48 to $6.64, and Coke/Pepsi $0.89 to $1.48.
Grocery Prices
- Milk - Milk is priced between $1.92 and $3.25 per liter, averaging $2.5.
- Bread (Loaf of Fresh White Bread) - A loaf of fresh white bread costs between $2.07 and $3.25, with an average price of $2.59.
- Eggs (Dozen) - A dozen eggs range from $2.95 to $6.2, averaging $4.49.
- Fruits (e.g., Apples, Oranges) - Apples cost $1.63 to $6.64 per kg, while oranges range from $0.74 to $9.76 per kg.
- Vegetables (e.g., Potatoes, Lettuce) - Potatoes are priced between $0.74 and $3.25 per kg, and lettuce costs $1.03 to $3.69 per head.
Transportation
- Public Transport (One-Way Ticket) - A one-way local transport ticket costs between $0.74 and $1.92, with a monthly pass priced between $17.71 and $177.09.
- Fuel (Gasoline) - Gasoline is priced between $0.89 and $1.14 per liter.
- Taxi Fares - Taxi fares start at $0.74, with a cost of $0.64 to $2.21 per km and $8.85 to $14.76 per hour of waiting.
Housing Costs
- 1-Bedroom Apartment Rent (City Centre) - Rent for a 1-bedroom apartment in the city centre ranges from $516.52 to $885.46, averaging $643.8.
- 1-Bedroom Apartment Rent (Outside Centre) - Outside the centre, rent ranges from $368.94 to $590.31, averaging $430.43.
- 3-Bedroom Apartment Rent (City Centre) - Rent for a 3-bedroom apartment in the city centre ranges from $885.46 to $2361.22, averaging $1436.03.
- 3-Bedroom Apartment Rent (Outside Centre) - Outside the centre, rent ranges from $664.09 to $1328.19, averaging $968.33.
- Buying Price per Square Meter (City Centre) - The price per square meter to buy an apartment in the city centre ranges from $1588.5 to $7942.49, averaging $4447.79.
- Buying Price per Square Meter (Outside Centre) - Outside the centre, the price per square meter ranges from $1350.22 to $2382.75, averaging $1773.82.
Utilities
- Basic Utilities (Electricity, Heating, Water, etc.) - Basic utilities for an 85m2 apartment cost between $51.65 and $88.55, averaging $70.63.
- Internet - Internet services range from $44.13 to $73.79, with an average cost of $58.07.
Cost of Living Rankings
Port of Spain ranks 1st on the Cost of Living rankings in Trinidad And Tobago. The cost of living indices for Trinidad And Tobago are compared to New York City (NYC), which serves as the baseline with an index of 100. These provide insights into the relative cost of living in different cities in Trinidad And Tobago, covering factors like consumer goods, rent, and purchasing power.
Cost of Living Data
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Clothing And Shoes
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Salaries And Financing
Salaries And Financing
Childcare
Childcare
"Key Takeaways"
Port of Spain offers a relatively affordable cost of living compared to many other capital cities. Dining out is reasonably priced, especially at casual restaurants.
Housing costs vary significantly depending on location, with city centre apartments being more expensive than those outside the centre.
Transportation is affordable, with low costs for public transport and gasoline. However, taxi fares can add up quickly if used frequently.
Grocery prices are moderate, with some variation in the cost of fruits and vegetables. Utilities and internet services are also reasonably priced.
Conclusion
In conclusion, Port of Spain provides a balanced cost of living with affordable options in dining, transportation, and housing, especially outside the city centre.
Prospective residents should consider their lifestyle preferences and budget to make the most of what the city has to offer. Overall, it is a city that offers good value for money, with a vibrant culture and community.