Cost Of Living For a Couple in Bahamas 2025

Average monthly spending for couples in Bahamas

How much money does a couple need in a month to survive in Bahamas?

Couples in Bahamas spend around 2,700 BSD per month on average. Depending on the lifestyle, a couple can survive with a monthly budget as low as 900 BSD or as high as 14,000 BSD. Location and income are very important factors and have a huge influence on expenditure and budget.

Couple expenditure to income ratio in Bahamas

Analysing the how affordable it is for couples to live in Bahamas

One of the most definite ways to determine how affordable a place is measuring the ratio of expenses to salary. A high expense-to-income to ratio indicates a high cost-of-living index while a low expenditure-to-salary ratio means the place is affordable to live in. Couples usually spend a larger chunk of their income than other population groups. A typical and healthy expenditure percentage for a couple of four ranges between 70% to 80%.

Couples in Bahamas spend around 79% of their monthly income. Some couples spend as low as 71% of their income while some as high as 88%.

How do couples spend their money in Bahamas?

We asked thousands of couples about their spending habits and expenditure break down.

Housing and accomodation expenditure for couples

Couples in Bahamas typically spend from 23% to 40% of their total monthly expenditure on housing with 30% being the average. The average monthly spend on housing is 920 BSD with expenditure ranging from 310 BSD to 4,900 BSD. This cost mainly goes for rent but it also includes other accommodation-related expenses.

Electricity, utilities, energy, water, internet, and mobile expenditure for couples

Utility expenditure like electricity, water, and gas in Bahamas ranges from 4% to 10% of total expenses with 6% being the average for most couples. The average monthly cost of utilities is 120 BSD with 36 BSD and 790 BSD being the upper and lower limits for a couple of four.

Transport, fuel, and commute expenditure for couples

Fuel consumption and cost of transport depend heavily on whether a couple resides near school and work, but roughly speaking a couple would expect to spend from 110 BSD to 1,700 BSD in a month on commuting with 330 BSD being the norm for most couples. This means that money spent on transport constitutes about 10% of total spending on average but can go as low as 4% or as high as 15%.

Food, groceries, and basic shopping expenditure for couples

The average outlay on groceries and basic houshold items for a typical couple in a month in Bahamas is 380 BSD. The cost of groceries can range between 130 BSD to 2,000 BSD. Couples spend on average about 16% on food and groceries with upper and lower bounds of 11% and 21% respectively.

Healthcare and medical services expenditure for couples

Couples in Bahamas allocate 7% to 17% of their total monthly expenditure to healthcare including health insurance and out-of-pocket medical expenses. The average spending on medical services and clinic visits is around 13%. The range of medical expenses range from 99 BSD to 1,600 BSD with 300 BSD being the norm for most couples.

Leisure and shopping expenditure for couples

This category mostly contains discretionary or non-essential expenses but also some non-discretionary spending like furniture for example. The monthly expenses range from 54 BSD to 870 BSD with 160 BSD being the average. Speaking of percentages, that equates to 2% to 8% of total expenses with an average of 5% for most couples.

Education and schooling expenditure for couples

Spending on education can vary drastically between different couples. On average, education constitutes 2% of the monthly expenditure of couples with 1% and 4% being the lower and upper bounds respectively. The average reported education cost is 54 BSD per month with 18 BSD being the minimum spent amount and 290 BSD being the maximum.

What percentage of couples in Bahamas are able to save money and how much can they save?

Percentage of couples that reported their ability to save money

Almost 65% of surveyed couples in Bahamas said that they can save some money at the end of each month while 35% reported that they have to utilize their whole income to survive.

How much money do couples manage to add to their savings?

Saving to Income Ratio

Average Monthly Saved Amount

Savings to income distribution levels for couples

Interpretation and Analysis

Couples that are able to save money can put anywhere from 12% to 32% of their monthly income to their savings, with 20% being the average for most couples. The average monthly amount of money that couples can put aside is 1,000 BSD with 350 BSD and 5,600 BSD being the minimum and maximum respectively.

Saving Challenges in Bahamas

Reasons that make it difficult for couples to save money

We wanted to understand what is stopping couples from maximizing their savings in Bahamas. Listed below are the answers given by the survey participants.

Around 6% of the couples said that their salary is too low to accommodate a portion for savings while 9% said that the high cost of living leaves little room for savings. 18% of the residents said that they are burdened with debt and find it challenging to save money. 10% reported that they just don't have the knowledge or discipline to create and stick to a budget, leading to overspending and an inability to save. 9% of couples blamed impulsive spending as the reason for saving inability. Around 6% said that unexpected expenses like medical bills or car repairs are derailing their savings goals. 7% bluntly said that they don't see the purpose of it and prefer to live each day to the fullest. 17% reported that they understand the value of saving but are putting off saving for the future, thinking they have plenty of time to start later. 11% blamed inflation, saying that every time they save some money they end up using it immediately. A surprising 3% said that social pressure and keeping up with peers or social expectations makes them overspend. Lastly, 3% blamed market instability and price fluctuations.

Typical saving choices for couples in Bahamas

Where do people choose to put their savings?

A typical and healthy budgeting structure

The 50/30/20 rule

Spending among different people can vary significantly based on factors such as their income, lifestyle, location, and personal preferences. A commonly used guideline for budgeting is the 50/30/20 rule, which suggests allocating your income into three main categories in the following percentages.

• 50% for needs and financial obligations

  This category includes essential expenses like housing, utilities, groceries, transportation, and healthcare.

• 30% for wants and discretionary spending

  This category covers discretionary spending on non-essential items, such as dining out, entertainment, travel, and other lifestyle choices.

• 20% for savings and emergency fund

  This is the percentage that must be allocated to savings, emergency funds, and retirement accounts.

About financial planning, money management, and household budgeting

Affordable living in Bahamas

Income and cost of living compatibility

We asked couples one simple question and recorded their answers.

Is it affordable or economical to live in Bahamas?

Around 71% of surveyed couples think that living in Bahamas is affordable with proper budgeting while 29% reported that it is just too expensive and not affordable even with frugality and thriftness.

Low-cost alternatives in Bahamas

People are always looking for ways to cut down expenses and reduce expenditures. The hallmark of any affordable place is the availability of discount stores, bargain deals, smart or secondhand shopping, refurbished items, and couponing. We asked couples how easily cost-cutting is and the answers were distributed as follows:

Plenty of low-cost options59%

Few low-cost options41%

Based on the survey, 59% of the couples living in Bahamas have no problem finding low-cost alternatives to support a frugal lifestyle while 41% think that thriftness is difficult due to scarcity in discount markets and secondhand outlets.

Emergency Funds For Couples

An emergency fund is a financial safety net comprised of easily accessible savings set aside to cover unexpected expenses or financial emergencies, typically amounting to three to six months' worth of living expenses. We asked couples of Bahamas whether they have an emergency fund and the answers were as follows.

Yes68%

No32%

Based on the survey, 32% of the couples living in Bahamas said that they don't have an emergency fund while 68% said that they do.

Financial Literacy in Bahamas

Financial literacy is the knowledge of concepts and principles related to personal finance that allow individuals to make informed decisions regarding their money such as budgeting, saving, investing, borrowing, managing debt, financial risk management, and planning.

Financial Leteracy66%

We asked couple guardians and parents in Bahamas whether they acquired any adequate personal financial training in their lives. Approximately 34% of the people who participated in the survey said that they are not well informed about the topics of budgeting, saving, etc., and just manage things based on their own experience, while 66% said that they know about the general principles of personal finance from sources other than their own experience.

Difficulty in Budgeting and Financial Planning

We wanted to understand whether couples of Bahamas have problems or difficulties in managing their expenditures and savings so we asked people one simple question: do you struggle with your personal finances? 32% of the participants reported that they indeed struggle in creating budgets and in organizing their finances while 68% said that they have everything under control.

Struggles with finance32%

Easily manages finances68%

Financial goals of couples in Bahamas

In an attempt to understand the economic situation in Bahamas, we asked participants about their financial targets. By knowing what the population in general is trying to achieve, we can shed light on the economic outlook, cost of living, and quality of life in general.

Around 7% of couples said that their main goal is to establish an emergency fund to cover unexpected expenses while 33% said their number one priority is to pay off high-interest debt or loans and improve credit. 8% of surveyed people confirmed that saving for retirement to ensure a comfortable lifestyle in the final years is their main target. Around 8% reported that their priority is saving for the tuition fees and education costs of their children while 17% choose to buy a home or pay off existing mortgage before other things. 9% of the population would like to build wealth through investments such as stocks, bonds, mutual funds, or real estate. For 11% of people, saving for vacations or upgrading their lifestyle is the number one concern. Approximately 9% of the residents said that saving for healthcare expenses including insurance premiums is their main goal.

Debt, loans, and mortgages in Bahamas

Percentage of couples who are in debt

According to the survey, 28% of the couples in Bahamas have some kind of debt, loan, mortgage, or credit card payments while 72% reported that they don't have financial obligations to banks.

Debt-to-income ratio in Bahamas

Interpretation

The debt-to-income ratio measures the percentage of income being paid as debt settlement across the population. It is calculated by dividing the monthly debt settlement payment of an individual by their monthly income. Based on collected data, approximately 28% of a couple's monthly income in Bahamas goes to debt settlement.

Debt levels

Monthly debt settlement payment as percentage of monthly income

According to our data, 3% of the debtors in Bahamas pay 60%+ of their income as debt settlement while 11% of the people pay 50% to 60% of their income for the same, which is quite an alarming financial situation for those individuals. 11% of people in debt dedicate 40% to 50% of their income to loan and mortgage payments while 13% dedicated 30% to 40% of income for same. Things are looking brighter for 15% of individuals as they only pay 20% to 30% of their income for loan and credit card repayment.

Distribution by type of debt in Bahamas

13% of debtors in Bahamas confirm that real estate mortgages constitutes the main part of their outstanding debt while 25% say that credit card payments are the reason they are in debt. Auto loans were the main type of debt for 23% of people and personal loans rose at 36%. Lastly, student loans are the main source of debt for 3% of debtors in Bahamas.

Good debt vs. Bad debt

Not all debt is bad. Good debt typically refers to borrowing money for investments that can increase in value or generate income over time like purchasing a home or acquiring student loans. On the other hand, bad debt involves borrowing for things that fail to generate lasting value like high-interest credit card debt used for non-essential expenses like luxury items or vacations.

Loan Affordability Index in Bahamas

Besides measuring the loan-to-income ratio, we asked couples of Bahamas how many times in a year they defaulted or were unable to pay their due credit card or loan payments on time. Understanding how often people default on their due payments is one of the indicators of the cost of living and economic situation.

Frequency and percentage of people who failed to pay their monthly credit card or loan payments on time last year.

Housing costs, accommodation, and housing affordability in Bahamas

Rent Cost in Bahamas

Monthly Rent Prices

Studio apartment monthly rent cost

210 BSD

310 BSD

830 BSD

MINIMUM

AVERAGE

MAXIMUM

$210

$310

$830

1-bedroom apartment monthly rent cost

310 BSD

500 BSD

1,300 BSD

MINIMUM

AVERAGE

MAXIMUM

$310

$500

$1,300

2-bedroom apartment monthly rent cost

420 BSD

630 BSD

1,700 BSD

MINIMUM

AVERAGE

MAXIMUM

$420

$630

$1,700

3-bedroom apartment monthly rent cost

500 BSD

830 BSD

2,300 BSD

MINIMUM

AVERAGE

MAXIMUM

$500

$830

$2,300

Furnished apartment monthly rent cost

1,000 BSD

2,500 BSD

5,000 BSD

MINIMUM

AVERAGE

MAXIMUM

$1,000

$2,500

$5,000

Townhouse monthly rent cost

830 BSD

1,300 BSD

3,600 BSD

MINIMUM

AVERAGE

MAXIMUM

$830

$1,300

$3,600

House monthly rent cost

1,000 BSD

2,500 BSD

5,000 BSD

MINIMUM

AVERAGE

MAXIMUM

$1,000

$2,500

$5,000

Villa monthly rent cost

1,300 BSD

3,100 BSD

5,000 BSD

MINIMUM

AVERAGE

MAXIMUM

$1,300

$3,100

$5,000

The monthly rental cost of a studio apartment in Bahamas ranges between 210 BSD and 830 BSD, meanwhile the cost of monthly rental of a one-bedroom apartment can be anywhere from 310 BSD to 1,300 BSD. Two-bedroom rentals rate ranges between 420 BSD and 1,700 BSD per month. The monthly rental for a three-bedroom apartment ranges from 500 BSD to 2,300 BSD. The average rent of a townhouse in Bahamas is around 1,300 BSD while house rental costs can be as high as 2,500 BSD per month. Finally, if you want to rent a villa, expect to pay anywhere from 1,300 BSD to 5,000 BSD per month.

Apartment and house prices in Bahamas

Cost of buying a property

Studio apartment price

42,000 BSD

63,000 BSD

130,000 BSD

MINIMUM

AVERAGE

MAXIMUM

$42,000

$63,000

$130,000

1-bedroom apartment price

50,000 BSD

83,000 BSD

310,000 BSD

MINIMUM

AVERAGE

MAXIMUM

$50,000

$83,000

$310,000

2-bedroom apartment price

83,000 BSD

250,000 BSD

500,000 BSD

MINIMUM

AVERAGE

MAXIMUM

$83,000

$250,000

$500,000

3-bedroom apartment price

280,000 BSD

420,000 BSD

1.3M BSD

MINIMUM

AVERAGE

MAXIMUM

$280,000

$420,000

$1.3M

Townhouse price

360,000 BSD

830,000 BSD

3.1M BSD

MINIMUM

AVERAGE

MAXIMUM

$360,000

$830,000

$3.1M

House price

420,000 BSD

2.5M BSD

3.6M BSD

MINIMUM

AVERAGE

MAXIMUM

$420,000

$2.5M

$3.6M

Villa price

500,000 BSD

2.8M BSD

4.2M BSD

MINIMUM

AVERAGE

MAXIMUM

$500,000

$2.8M

$4.2M

The average price of a studio apartment in Bahamas can range from 42,000 BSD to 130,000 BSD depending on location. One bedroom cost can be anywhere from 50,000 BSD to 310,000 BSD. A villa can cost you 2.8M BSD on average with prices ranging from 500,000 BSD to 4.2M BSD.

House / apartment prices to income ratio

Property prices in Bahamas can be x118 to x211 multiples of the monthly income depending on the property and the income of the person. On average, property prices are approximately x118 multiples of the average monthly salary in Bahamas.

Rent to income ratio

The average rent-to-income ratio in Bahamas is around 32%. This means that people pay 32% of their income for rent. Those figures can range from 22% to 42% depending on the salary, location, and type of property.

Housing affordability index

The housing affordability index measures how affordable accommodation is in a particular place. This can measured in multiple ways, the most common being housing expenditure to total expenditure ratio and the rent to income ratio. The housing expenditure ratio is a figure reported by individuals on the percentage they allocate for housing. Rent to income ratio is calculated by dividing the average monthly rent by the average income. Because these values are both percentages, we can find their average and get the best of the two worlds.

Property Taxes

Real estate owners pay property taxes to local tax authorities, which are determined by the assessed value of their property. Typically, these taxes are paid once a year. Property tax funds contribute to community development, financing infrastructure improvements, public services, and local education initiatives.

Home Maintenance Costs

Home maintenance costs encompass various expenses associated with the upkeep and repair of a residence. These expenditures include regular tasks such as lawn care, pest control, and HVAC system servicing, as well as occasional repairs and renovations like fixing leaks, painting, or replacing appliances.

Urban vs. rural living costs

Urban living typically entails higher housing and transportation costs due to demand and limited space, while rural areas generally offer lower housing expenses but may have higher prices for goods and services. The differnce in rental rates between urban areas and rural areas can be as high as 300% in some cases.

Monthly costs and expenses of energy and basic utilities in Bahamas

Energy, electricity, water, gas, internet, and mobile cost in Bahamas

Utility Bill Cost / Electricity + Water + Gas / Couple

36 BSD

120 BSD

790 BSD

MINIMUM

AVERAGE

MAXIMUM

$36

$120

$790

Internet and cable cost

13 BSD

25 BSD

33 BSD

MINIMUM

AVERAGE

MAXIMUM

$13

$25

$33

Mobile phone bill and charges

10 BSD

17 BSD

50 BSD

MINIMUM

AVERAGE

MAXIMUM

$10

$17

$50

The average monthly energy and water consumption of couples is around 120 BSD. The cost of internet and WiFi ranges from 13 BSD to 33 BSD with 25 BSD being the average internet bill. Finally, the average monthly mobile charges is around 17 BSD but can range between 10 BSD and 50 BSD depending on consumption. Mobile charges include both calling minutes as well as data packages.

Energy / Utility expense to income ratio

The average utility-to-income ratio in Bahamas is around 5%. This means that people pay 5% of their income for energy, water, internet, and mobile charges. Those figures can range from 2% to 9% depending on salary and location.

Food Prices, Dining Expenses, and Grocery Costs in Bahamas

Prices and cost of goods and services in Bahamas

Dining out, food, and beverages costs. Price variations for common food items.

Fast food combo meal price

2.5 BSD

5 BSD

8.3 BSD

MINIMUM

AVERAGE

MAXIMUM

$2.5

$5

$8.3

The average price of a regular combo meal at a fast food outlet or chain like McDonald's, Pizzahut, or KFC in Bahamas is approximatly 5 BSD with meal cost ranging from 2.5 BSD to 8.3 BSD. The typical combo meal consists of a burger, french fries, and a drink.

Restaurant meal for one price

8.3 BSD

13 BSD

25 BSD

MINIMUM

AVERAGE

MAXIMUM

$8.3

$13

$25

If you are planning to have a nice meal at a mid-range restaurant, expect to pay anywhere between 8.3 BSD and 25 BSD with 13 BSD being the average price of a plate for one person at a regular restaurant in Bahamas.

Fine dining meal for one price

17 BSD

25 BSD

100 BSD

MINIMUM

AVERAGE

MAXIMUM

$17

$25

$100

The price range of a meal at fine-dining restaurant is 17 BSD to 100 BSD with the average cost being 25 BSD for one person. This is what you would expect to pay a top-tier diner in Bahamas.

Beverage prices, cappuccino, latte etc..

2.1 BSD

3.3 BSD

5 BSD

MINIMUM

AVERAGE

MAXIMUM

$2.1

$3.3

$5

The average price of a regular beverage like cappuccino or latte at Starbucks, Costa, or similar coffee shops and cafes in Bahamas is around 3.3 BSD. Price ranges between 2.1 BSD and 5 BSD depending on the type of beverage, the size, and optional add-ons.

Grocery and market costs

Large bottle of milk price

1.7 BSD

2 BSD

2.5 BSD

MINIMUM

AVERAGE

MAXIMUM

$1.7

$2

$2.5

The average price of a large bottle of milk in Bahamas is 2 BSD. The maximum what you would pay for milk is 2.5 BSD and the minimum being 1.7 BSD depending on the brand of milk and other properties.

12 eggs price

1.3 BSD

1.7 BSD

2.5 BSD

MINIMUM

AVERAGE

MAXIMUM

$1.3

$1.7

$2.5

A dozen eggs costs around 1.7 BSD on average with 1.3 BSD and 2.5 BSD being the lower and upper limits respectively.

Fresh whole chicken price

2.8 BSD

3.7 BSD

5.2 BSD

MINIMUM

AVERAGE

MAXIMUM

$2.8

$3.7

$5.2

The price range of a fresh whole chicken in Bahamas is between 2.8 BSD and 5.2 BSD depending on the size of the chicken and whether it is oraganic or not. The average price is approximatly 3.7 BSD.

Pack of beef price

3.3 BSD

5 BSD

10 BSD

MINIMUM

AVERAGE

MAXIMUM

$3.3

$5

$10

The price of a regular pack of beef or meat is around 5 BSD. A pack of beef contains around 1Kg or 1lb depending on packing.

Medium bag of rice price

1.3 BSD

1.8 BSD

2.6 BSD

MINIMUM

AVERAGE

MAXIMUM

$1.3

$1.8

$2.6

A bag of rice in Bahamas costs around 1.8 BSD on average with prices rangeing between 1.3 BSD and 2.6 BSD depending on the brand and quality.

Bag of tomatos price

0.50 BSD

0.67 BSD

1.3 BSD

MINIMUM

AVERAGE

MAXIMUM

$0.50

$0.67

$1.3

A bag of tomatoes costs anywhere from 0.50 BSD to 1.3 BSD. A bag of tomatoes denotes 1Kg or 1lb depending on location.

Bag of apples price

0.89 BSD

1.2 BSD

1.9 BSD

MINIMUM

AVERAGE

MAXIMUM

$0.89

$1.2

$1.9

A bag of apples costs 1.2 BSD on average. A bag of apples denotes 1Kg or 1lb depending on location.

Grocery and food expenditure to income ratio

The average grocery-to-income ratio in Bahamas is around 26%. This means that couples spend 26% of their income on grocery and basic household items. The expenditure can range from 18% to 32% depending on salary and location.

Expenditure on food and grocery for couples