Cost of Living in Bermuda

Estimated Monthly Cost

per person · per month

About Bermuda

Bermuda is a small, densely populated island nation in the Atlantic, roughly 650 miles east of North Carolina. It functions as a financial hub and tourist destination, with a population around 64,000. Daily life centers on Hamilton (the capital) and St. George's, with smaller settlements scattered across the archipelago. The climate is subtropical, warm year-round with hurricane season June through November. Most residents live in single-family homes or apartments, often with ocean views. Public transport relies on buses and ferries. The island has strong British colonial heritage visible in architecture, driving conventions (left side of the road), and governance. Most working-age residents are either finance professionals, government employees, hospitality staff, or business owners.

Bermuda's cost of living is among the highest in the world, driven by island geography, import dependency, and strong financial services demand. Housing dominates household budgets. Rental apartments in Hamilton or near beaches range from $1,800 to $3,500 per month for modest two-bedroom units, with premium properties reaching $5,000 plus. Purchasing property is expensive, often $800,000 and above for modest homes. Grocery costs run 30-50 percent higher than US mainland prices due to shipping and limited competition. A week's groceries for one person costs $80-120. Restaurants charge $15-30 for lunch entrees, $25-50 for dinner. Gasoline hovers around $5 per gallon. Property tax, utilities, and insurance add significantly to housing costs. Public buses cost roughly $5 per ride; a monthly pass is around $50. Many expats find the budget tier ($2,940/month) extremely tight, requiring shared housing and strict meal planning. Local versus expat pricing is largely the same, though employers sometimes provide housing allowances for skilled workers.

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