Cost of Living in Costa Rica

A common question people ask when considering relocating to Costa Rica: How much will it cost to live in the country comfortably? The short answer: It varies but most likely a lot less than where you currently reside.

Depending on your expectations for quality of life, as well as whether you are single, couple, or married with children are all factors that will have a big impact on this answer. It is estimated that the average single person in Costa Rica needs between $1200 and $1500 a month to live comfortably, but for some expats this number can easily increase to $5000 or more. It really depends on your expectations for comfort. For the average North American couple, it is estimated to be $1500 to $2500 and more for those with children and need to pay for private school and/or childcare.

According to the consumer price index, Costa Rica’s cost of living is 57.43. Renting a one bedroom apartment in the city center will cost $445.53 per month, and a three bedroom about $839.81 per month. Average utilities for an 915 square foot apartment run about $71.55. High speed internet runs around $51.33. If you are looking to purchase a home the average price per square foot in the city center is $130.39, and outside the city center it is $120.57. Most home buyers purchase in all-cash or negotiate private financing through the seller. If you are looking to get a bank approved mortgage in Costa Rica, interest rates are high running about 12.39%.

Food prices are comparable to North America. Dinner for two at a mid-range restaurant will run about $34.49, a domestic beer runs about $2.00, an imported one $3.00. Coffee lovers your cappuccinos at a local cafe will cost about $2.38, a real bargain compared to North America’s Starbucks, and better coffee. A monthly public transportation pass is $56.28, and if you are considering owning a car, fuel prices are high. Gas runs about $4.75 per gallon. Car ownership can quickly add up and many people prefer public transportation and bikes and use private cars sparingly. Many people live in pedestrian friendly towns and the lifestyle does not require heavy car use.

Healthcare costs are about a third less of what most US citizens pay, and Costa Rica is known for its high quality of care. In fact, it is so good, health tourism is a major industry. Foreigners coming to Costa Rica just for high quality, affordable medical care. There is also relatively inexpensive private insurance available. A doctor’s visit will never cost more than $60, and a visit to a specialist will run $80 to $100. A routine test such as an Utlrasound is $75, and surgeries are considerably less than they are in the US. In short, Costa Ricans are not faced with mounting medical debt like most US citizens. Everyone is guaranteed insurance.

For tuition, there is a wide range of prices with pre-school costing as little as $100 or slightly less a month to $400 a month. Private school tuition can cost anywhere from $1200 a year to close to $10,000, but many schools offer quality education for considerably less, and the amount is still significantly less than North American parents have become accustomed to paying each year. The cost to hire a nanny will run between $2 to $10 per hour depending upon where you are and what type of help you seek. Still childcare is significantly less for most families here than it is in their native countries relieving them of the pressure of a major expense they confront at home.