Cost Of Living For a Student in Bahamas 2025

Average monthly spending for students in Bahamas

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

Students in Bahamas spend around 1,200 BSD per month on average. Depending on the lifestyle, a student can survive with a monthly budget as low as 180 BSD or as high as 7,800 BSD. Location is a very important factor and has a huge influence on expenditure and budget.

How do students spend their money in Bahamas?

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

Housing and accomodation expenditure for students

Students in Bahamas typically spend from 16% to 27% of their total monthly expenditure on housing with 21% being the average. The average monthly spend on housing is 280 BSD with expenditure ranging from 43 BSD to 1,900 BSD. This cost mainly goes for rent but it also includes other accommodation-related expenses.

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

Utility expenditure like electricity, water, and gas in Bahamas ranges from 3% to 9% of total expenses with 5% being the average for most students. The average monthly cost of utilities is 47 BSD with 7.2 BSD and 310 BSD being the upper and lower limits for a student of four.

Transport, fuel, and commute expenditure for students

Fuel consumption and cost of transport depend heavily on whether a student resides near school and work, but roughly speaking a student would expect to spend from 13 BSD to 550 BSD in a month on commuting with 82 BSD being the norm for most students. This means that money spent on transport constitutes about 5% of total spending on average but can go as low as 5% or as high as 11%.

Food, groceries, and basic shopping expenditure for students

The average outlay on groceries and basic houshold items for a typical student in a month in Bahamas is 240 BSD. The cost of groceries can range between 36 BSD to 1,600 BSD. Students spend on average about 22% on food and groceries with upper and lower bounds of 16% and 26% respectively.

Healthcare and medical services expenditure for students

Students in Bahamas allocate 5% to 11% 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 8%. The range of medical expenses range from 11 BSD to 470 BSD with 71 BSD being the norm for most students.

Leisure and shopping expenditure for students

This category mostly contains discretionary or non-essential expenses but also some non-discretionary spending like furniture for example. The monthly expenses range from 9 BSD to 390 BSD with 59 BSD being the average. Speaking of percentages, that equates to 2% to 8% of total expenses with an average of 4% for most students.

Education and schooling expenditure for students

Spending on education can vary drastically between different students. On average, education constitutes 19% of the monthly expenditure of students with 12% and 24% being the lower and upper bounds respectively. The average reported education cost is 220 BSD per month with 34 BSD being the minimum spent amount and 1,500 BSD being the maximum.

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 students one simple question and recorded their answers.

Is it affordable or economical to live in Bahamas?

Around 71% of surveyed students 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 students 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 students 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 Students

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 students of Bahamas whether they have an emergency fund and the answers were as follows.

Yes68%

No32%

Based on the survey, 32% of the students 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 student 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 students 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%

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 / Student

7.2 BSD

47 BSD

310 BSD

MINIMUM

AVERAGE

MAXIMUM

$7.2

$47

$310

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 students is around 47 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 students 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 students