Belize: An Affordable Retirement Paradise?

Belize is an increasingly popular retirement destination for expats, particularly those from Europe and North America. While it is not the cheapest place to live, it offers a high quality of life and a low cost of living compared to the US.

The cost of living in Belize is roughly 31% lower than in the US, and the average income is lower than in neighbouring Caribbean countries. The residency laws are lenient, and the country offers stunning natural beauty, perfect weather, and an English-speaking community.

The cost of retiring in Belize depends on the individual and their lifestyle. However, according to Investopedia, retirees can expect to spend around $1,700 per month. This is higher than the monthly estimates for a frugal couple, who might only need $1,200 to live comfortably.

One of the benefits of retiring in Belize is the Qualified Retirement Program (QRP), which allows people over 45 with a fixed income of at least $2,000 per month to move themselves, their family, and their possessions to Belize tax and duty-free.

The cost of living in Belize varies depending on location. For example, San Pedro beach has excellent resorts for retirement but is more costly than other areas. Property prices also vary, with simple Belize-style homes in rural areas costing as little as $15,000, while a luxury villa in San Pedro can cost $500,000 or more.

Utilities such as electricity and water are similarly priced to the US, while reliable internet connections cost around $40–$80 per month. Food costs are generally lower than in the US, especially for fresh, locally grown produce.

Overall, Belize offers a low-cost retirement option with a high quality of life, making it an attractive choice for those seeking a simple life in a tropical paradise.

Cost of living

The cost of living in Belize is roughly 31% lower than in the US, although it is not the cheapest place to live. A tropical paradise with so many advantages does not come as cheaply as other retirement areas in Latin America or Asia. However, expats report that their money goes further in Belize.

The cost of living in Belize depends on where you live and how you budget your money. The average cost of rent in Belize is around 75% lower than in the US. In Belize City, a one-bedroom apartment in the city centre will cost around $300 per month, whereas a three-bedroom apartment in the city will cost around $600 per month. Outside the city centre, one-bedroom apartments cost around $200 and three-bedroom apartments cost over $400. On Ambergris Caye, rent ranges from $400 to nearly $2,000 for one- and three-bedroom apartments.

The cost of food in Belize also varies depending on location. In Belize City, a mid-range meal for two will cost around $28, whereas in Ambergris Caye, it will cost around $60.

Belize's national dish is stewed chicken, rice and beans, which can be purchased for $6 to $8 at roadside stands. It is cheap to prepare and filling, which is why locals eat it often.

Utilities like electricity and water are a similar price to in the USA, and reliable internet connections come at the price of around $40–$80 per month.

The price of gasoline in Belize is, on average, $1.54 per litre (as of the end of 2018), which is nearly double the price in the USA.

The Qualified Retirement Program (QRP)

The QRP is a program designed to attract retirees to Belize. It costs around $2,100 per couple and is open to people aged 45 or over who have a fixed income of at least $2,000 per month from pensions or social security. The program allows you to move yourself, your family and your possessions to Belize tax and duty-free.

Sample Monthly Budget

• Rent or mortgage: $400
• Car expenses: $200
• Utilities: $400
• Groceries: $400
• Health insurance: $50
• Entertainment: $100

Housing

Concrete homes are another option and have become increasingly popular, as the cost of building with concrete is similar to that of wood. Concrete homes tend to be larger and include conveniences like air conditioning, but they are more expensive.

In popular expat and tourist communities, such as San Pedro, Placencia, or Caye Caulker, rental prices can vary based on proximity to the beach or the town centre. For example, a two-bedroom apartment near the beach in San Pedro with air conditioning, located a few miles from town, can range from $1,200 to $1,500 per month.

In Belize City, a one-bedroom apartment in the city centre can be rented for around $300 per month, while a three-bedroom apartment can cost around $600. Outside the central area, one-bedroom apartments are around $200, and three-bedroom apartments are over $400.

On the island of Ambergris Caye, rent can range from $400 to nearly $2,000 for one- and three-bedroom apartments.

In the Cayo district, a one-bedroom apartment on the water with air conditioning and within walking distance to town can be found for around $1,000 per month.

In the town of Corozal, rent for an apartment can be as low as $300 per month, and purchasing a home can cost anywhere from $100,000 to $20,000.

In Placencia, a two-bedroom apartment near the beach with air conditioning can be rented for $1,200 to $1,500 per month.

For those looking to build their own homes, construction costs in Belize range from $40 to $80 per square foot for a strong concrete structure. Prefabricated homes built by the local Mennonite community can be purchased for $20,000 to $30,000. These homes are typically modest three-bedroom cottages with North American designs, complete with plumbing, polished hardwood flooring, and pre-wired for electricity.

Overall, housing in Belize can be significantly cheaper compared to North American prices, especially in less touristy areas and when adopting a more local lifestyle.

Utilities

The cost of utilities in Belize is variable, with some being cheaper than in North America and others being more expensive.

Electricity is expensive, with a rate of $0.45–0.52 per kWh. A couple living in a 2-bedroom home with no air conditioning will pay about $50 per month, while running air conditioning units can increase this to $150 per month.

Water is cheap and abundant, with city water costing around $60 per month. However, some choose to use water tanks to catch rainwater and lower their water bill.

Internet access is good value, with packages ranging from $25 to $80 per month, depending on speed. Fibre-to-the-home is available in many areas, and 4G LTE mobile networks are among the fastest in Central America.

Cable TV is also good value, at $30–45 per month, with access to a wide range of channels, including premium options like HBO, Food Network, CNN, Fox News, and sports channels.

Phone plans are more expensive, with the cheapest plan offering 250 minutes of talk time and 30 SMS per month for $50. Unlimited talk and text with 8GB of monthly data will cost around $28, while 66GB of data will cost $78.

Food

Belize is not the cheapest place to live, but your money will go further than in the US. The cost of living in Belize is roughly 31% lower than in the US, and the average cost of rent is around 75% lower.

The cost of food in Belize depends on your lifestyle and where you live. If you eat like a local, you can save a lot of money on your weekly grocery bill compared to the US and enjoy fresh, locally grown produce at around 60% of the cost. Belize's national dish is stewed chicken, rice, and beans, which locals eat often because it's cheap and filling. You can find this meal for $5–$8 at roadside stands.

If you want to buy American imports, food will be more expensive. Eating out in Belize is also more expensive than cooking at home, but it's still affordable. A meal for two at a quality restaurant will cost around $30, and you can find delicious street food for around $5.

• Rent or mortgage payment: $400
• Car expenses: $200
• Utilities: $400
• Groceries: $400
• Health insurance: $50
• Entertainment: $100

Healthcare

The healthcare system in Belize is still developing, and while it has improved in recent years, it generally receives poor reviews. The country has dedicated, caring doctors who offer personal attention to their patients, but it lacks adequate healthcare facilities, specialised physicians and staff, and advanced equipment.

Belize offers both public and private healthcare options. Public healthcare is free or very inexpensive for Belizeans, but as the country has fewer than 400,000 residents, it doesn't have the tax revenue to fund a large number of public hospitals. The majority of the country's 24/7 hospitals are located in Belize City, including the Karl Heusner public hospital. There are also two excellent private hospitals in the city: Belize Medical Associates and Healthcare Partners. The towns of San Ignacio, Corozal, Dangriga, and Punta Gorda also have 24-hour care hospitals.

Most expats prefer private hospitals as their fees are reasonable and they provide better, more comprehensive care. However, private healthcare in Belize is still less costly than in many other countries, and expenses can add up quickly. Therefore, private health insurance is recommended.

The public healthcare system in Belize is controlled and funded by the Ministry of Health (MoH) and is available to all residents, including foreigners. However, patients may face long wait times for appointments, and the more modern and well-equipped facilities are located in the major cities. The quality of medical services in rural areas is not as high, and emergency services are limited to urban areas.

For more specialised or complicated medical treatments, many expats leave Belize and go to the US, Mexico, or Guatemala. Expats can rely on evacuation coverage provided by an international health insurance policy, as an ambulance flight can cost $15,000.

The cost of health insurance in Belize varies, but it is generally affordable. Basic medical care is one of the services that expats report as being significantly more economical in the country.

Frequently asked questions