Cost Of Living In Belize: How Much?

Belize, a small country nestled in the corner of Mexico's Yucatan Peninsula, is an attractive place for expats to settle. The cost of living in Belize is said to be at least 50% cheaper than in the USA, and many expats find that it is significantly more affordable than their home country. However, the cost of living in Belize varies depending on location and lifestyle choices.

The cost of living in Belize is influenced by factors such as housing, utilities, food, transportation, and healthcare. Housing costs differ based on location and style, with basic Belizean-style wood homes being the most economical option. Utilities, especially electricity, can be expensive, but city water and internet are reasonably priced. Food costs can be kept low by shopping like a local and relying on locally produced items. Transportation costs can be minimized by walking or using public transportation, as vehicle fuel is expensive. Healthcare in Belize is improving, and costs are lower than in the US, but advanced medical care may require travel to another country.

Overall, Belize offers a range of options for those seeking a simpler and more affordable life. By adapting to the local lifestyle and utilizing local resources, individuals can stretch their budget further and enjoy a comfortable life in this tropical destination.

Renting a home in Belize

The cost of renting a home in Belize varies depending on location and style. Belize offers a wide range of housing options, from basic wooden homes to modern concrete residences.

Location

The price of rent is largely dictated by location, with properties in popular expat and tourist communities such as San Pedro, Placencia, and Caye Caulker commanding higher prices. Within these communities, rentals closer to the beach or the town centre also tend to be more expensive.

For instance, a two-bedroom apartment near the beach in San Pedro or Placencia, with air conditioning and located a few miles from the town centre, can range from $1,200 to $1,500 per month.

In contrast, small towns offer more affordable options, with pleasant houses near the sea available for rent between $300 and $800 per month.

Style

The style of the home also influences rental costs. Basic Belizean-style wooden homes are typically the most economical option. These houses often feature shutters over screened windows instead of glass and may not have air conditioning. They tend to be smaller, usually consisting of one or two bedrooms, one bathroom, and a simple kitchen and seating area.

On the other hand, concrete homes have become an increasingly popular choice, as the cost of construction is now comparable to that of wooden houses. Concrete residences are available in a wider range of sizes and often include amenities like air conditioning. As a result, they tend to be more expensive to rent.

Additional Considerations

When renting a home in Belize, it is important to consider the cost of utilities, especially electricity, which can be quite expensive. A couple living in a two-bedroom home without air conditioning can expect to pay around $50 per month for electricity, while running air conditioners at night can increase the bill to $150 or more.

Internet and cable TV services are also available, with basic internet plans starting at $25 per month and cable TV costing $30 per month.

Example Rental Prices

• San Ignacio, Inland Belize: $600 per month for a two-bedroom home.
• Placencia and Hopkins, Coast: Starting from $1,200 per month for a one-bedroom condo.
• Ambergris Caye, Island: $1,200 or more per month for a one-bedroom condo.
• Belize City: $1,500 to $2,500 per month for a three-bedroom, two-bathroom home.
• Corozal: $250 per month for a small house.

In conclusion, renting a home in Belize can vary significantly in price depending on the location, style, and specific amenities included. It is important to consider your budget and priorities when choosing a rental property in the country.

Utilities as a cost of living in Belize

The cost of utilities in Belize is largely dependent on electricity usage. Electricity is expensive in Belize, with a residential rate of $0.45 per kWh, which is significantly higher than rates in North America and Europe. A couple living in a 2-bedroom home without an air conditioner can expect to pay around $50 per month for electricity, while those using air conditioning may see their bill increase to an average of $150 per month. Running air conditioners all day can quickly escalate electric bills.

Water is generally inexpensive in Belize, with city water costing a couple around $20-$50 per month. Rain catchment is also a great alternative, and some people use water tanks to catch rainwater to lower their water bill.

Internet costs in Belize range from $25-$80 for speeds sufficient for emailing, streaming news, and Netflix. Basic 20 Mbps internet service costs about $25 per month, while faster speeds of 150 Mbps can cost up to $100 per month.

Cable TV is available for $30 per month, providing access to channels such as HBO, Food Network, CNN, and Fox News.

Phone plans are also affordable, with unlimited talk and text plans with 8 GB of monthly data costing about $28 per month. The largest data plan, with 66 GB, is priced at $78 per month.

Cooking gas, using butane, is regulated by the Government of Belize, but prices can vary, and it is recommended to shop around for the best rates. Expect to pay $3 or more per gallon.

Vehicle insurance, license, and fuel

The cost of vehicle ownership in Belize includes insurance, licensing, and fuel. Here is a breakdown of each:

Vehicle Insurance

The cost of vehicle insurance in Belize can vary depending on factors such as the type of vehicle, coverage options, and personal details of the driver. RF&G Insurance, a provider in Belize, offers various insurance options, including private car insurance, commercial insurance, and motorcycle insurance. They provide easy payment options and a dedicated claims team to settle claims quickly and fairly. It is recommended to consult with insurance providers to obtain personalized quotations based on individual circumstances.

Driver's License

To drive in Belize, you can initially use your international driver's license or your license from your country of origin. However, eventually, you will need to obtain a Belizean driver's license. The requirements and process are as follows:

• Documents required: Application form duly completed and signed by a medical doctor, proof of address, passport or social security card, QRP or permanent resident card, and your original license from your country of origin.
• Submission: Submit the documents to your region's traffic department.
• Tests: You may or may not be required to take driving and written tests.
• Fees: BZD70 for the first issue and BZD40 for renewal. The license is valid for one year.

Fuel

As of May 6, 2024, the price of octane-95 gasoline in Belize was 3.574 Belize Dollars per liter. This price is higher than the global average for the same period, which was 2.72 Belize Dollars per liter. It's important to note that fuel prices can fluctuate over time, so it's advisable to check for the most recent prices when planning your budget.

Residency or Qualified Retirement Plan (QRP)

If you plan to become a Belizean citizen, you will need to go through the residency process. You will need to renew your tourist visa every 30 days, which costs $100 USD per month. After a year of living in Belize full-time without leaving for more than 14 days, you can apply to become a permanent resident. After five years, you can apply to become a Belizean citizen.

The Qualified Retirement Program (QRP) is an alternative to residency, designed by the Belizean government for people aged 45 and over. It allows qualified individuals to retire in Belize with certain benefits.

To qualify for the QRP, you must:

• Be 45 or older (some sources state 40 or older)
• Have a monthly income of at least $2,000 (or $24,000 per year) from a source outside Belize
• Deposit the requisite amount in a bank, credit union, or licensed financial institution in Belize
• Pass a security clearance check carried out by the Ministry of National Security in Belize
• Stay in Belize for a minimum of 30 consecutive days per year

The QRP benefits include:

• Importing all personal items, vehicles, boats, and light aircraft without paying taxes or duties
• A QRP Resident Card, allowing multiple entries into Belize without a visa
• Full-time residency in Belize
• Tax exemptions on all income from sources outside Belize, capital gains tax, and inheritance tax
• Ease of purchasing land and property

The application and processing fee for the QRP is approximately $1,350, plus $750 for any dependents (spouse or children under 18).

It is important to note that under the QRP, you will not be able to work in Belize or become a Belizean citizen.

Food and fuel costs

The cost of living in Belize is generally lower than in the United States, but food and fuel prices can be high relative to neighbouring countries. The country imports most of its goods, which results in higher prices. Basic infrastructure is also lacking, which can make it hard to get excited about what you're spending your money on.

Food Costs

The price of food in Belize can be fairly steep, and more in line with what you'd pay in the US than in neighbouring Mexico or Guatemala. In a sit-down restaurant, expect to pay around $10 for standard breakfasts like sausage and eggs or a breakfast burrito. Later in the day, you'll pay around $10 for jerk chicken, $15 for a burger, $20 for a shrimp curry, and $25 for a rack of ribs and sides.

However, it's not impossible to save money on food in Belize. A simple but filling meal of rice, beans, and some kind of protein from a street stall will cost you around $5-7, or a couple of dollars for a Mexican-style tamale.

A couple coming from North America can probably survive on $1,000 per month (assuming they own their home). However, $1,500 would be more reasonable.

Fuel Costs

Fuel is relatively expensive in Belize, ranging from $5-$7 per gallon for gasoline, while diesel tends to be cheaper. Gas is about two to two-and-a-half times what you would pay in the US.

Import taxes on motor vehicles in Belize are exorbitant, which is why most Belizeans drive used cars imported from the US.

Frequently asked questions