Cost Of Living For a Student in Grenada 2025

Average monthly spending for students in Grenada

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

Students in Grenada spend around 3,000 XCD per month on average. Depending on the lifestyle, a student can survive with a monthly budget as low as 460 XCD or as high as 20,000 XCD. Location is a very important factor and has a huge influence on expenditure and budget.

How do students spend their money in Grenada?

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

Housing and accomodation expenditure for students

Students in Grenada 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 710 XCD with expenditure ranging from 110 XCD to 4,800 XCD. 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 Grenada ranges from 3% to 9% of total expenses with 5% being the average for most students. The average monthly cost of utilities is 120 XCD with 18 XCD and 790 XCD 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 32 XCD to 1,400 XCD in a month on commuting with 210 XCD 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 Grenada is 590 XCD. The cost of groceries can range between 91 XCD to 4,000 XCD. 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 Grenada 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 27 XCD to 1,200 XCD with 180 XCD 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 23 XCD to 990 XCD with 150 XCD 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 560 XCD per month with 87 XCD being the minimum spent amount and 3,800 XCD 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 Grenada

Income and cost of living compatibility

We asked students one simple question and recorded their answers.

Is it affordable or economical to live in Grenada?

Around 68% of surveyed students think that living in Grenada is affordable with proper budgeting while 32% reported that it is just too expensive and not affordable even with frugality and thriftness.

Low-cost alternatives in Grenada

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 options57%

Few low-cost options43%

Based on the survey, 57% of the students living in Grenada have no problem finding low-cost alternatives to support a frugal lifestyle while 43% 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 Grenada whether they have an emergency fund and the answers were as follows.

Yes63%

No37%

Based on the survey, 37% of the students living in Grenada said that they don't have an emergency fund while 63% said that they do.

Financial Literacy in Grenada

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 Leteracy63%

We asked student guardians and parents in Grenada whether they acquired any adequate personal financial training in their lives. Approximately 37% 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 63% 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 Grenada have problems or difficulties in managing their expenditures and savings so we asked people one simple question: do you struggle with your personal finances? 42% of the participants reported that they indeed struggle in creating budgets and in organizing their finances while 58% said that they have everything under control.

Struggles with finance42%

Easily manages finances58%

Housing costs, accommodation, and housing affordability in Grenada

Rent Cost in Grenada

Monthly Rent Prices

Studio apartment monthly rent cost

520 XCD

790 XCD

2,100 XCD

MINIMUM

AVERAGE

MAXIMUM

$190

$290

$780

1-bedroom apartment monthly rent cost

790 XCD

1,300 XCD

3,100 XCD

MINIMUM

AVERAGE

MAXIMUM

$290

$470

$1,200

2-bedroom apartment monthly rent cost

1,000 XCD

1,600 XCD

4,200 XCD

MINIMUM

AVERAGE

MAXIMUM

$390

$580

$1,600

3-bedroom apartment monthly rent cost

1,300 XCD

2,100 XCD

5,700 XCD

MINIMUM

AVERAGE

MAXIMUM

$470

$780

$2,100

Furnished apartment monthly rent cost

2,500 XCD

6,300 XCD

13,000 XCD

MINIMUM

AVERAGE

MAXIMUM

$930

$2,300

$4,700

Townhouse monthly rent cost

2,100 XCD

3,100 XCD

9,000 XCD

MINIMUM

AVERAGE

MAXIMUM

$780

$1,200

$3,300

House monthly rent cost

2,500 XCD

6,300 XCD

13,000 XCD

MINIMUM

AVERAGE

MAXIMUM

$930

$2,300

$4,700

Villa monthly rent cost

3,100 XCD

7,900 XCD

13,000 XCD

MINIMUM

AVERAGE

MAXIMUM

$1,200

$2,900

$4,700

The monthly rental cost of a studio apartment in Grenada ranges between 520 XCD and 2,100 XCD, meanwhile the cost of monthly rental of a one-bedroom apartment can be anywhere from 790 XCD to 3,100 XCD. Two-bedroom rentals rate ranges between 1,000 XCD and 4,200 XCD per month. The monthly rental for a three-bedroom apartment ranges from 1,300 XCD to 5,700 XCD. The average rent of a townhouse in Grenada is around 3,100 XCD while house rental costs can be as high as 6,300 XCD per month. Finally, if you want to rent a villa, expect to pay anywhere from 3,100 XCD to 13,000 XCD per month.

Apartment and house prices in Grenada

Cost of buying a property

Studio apartment price

100,000 XCD

160,000 XCD

310,000 XCD

MINIMUM

AVERAGE

MAXIMUM

$39,000

$58,000

$120,000

1-bedroom apartment price

130,000 XCD

210,000 XCD

790,000 XCD

MINIMUM

AVERAGE

MAXIMUM

$47,000

$78,000

$290,000

2-bedroom apartment price

210,000 XCD

630,000 XCD

1.3M XCD

MINIMUM

AVERAGE

MAXIMUM

$78,000

$230,000

$470,000

3-bedroom apartment price

700,000 XCD

1M XCD

3.1M XCD

MINIMUM

AVERAGE

MAXIMUM

$260,000

$390,000

$1.2M

Townhouse price

900,000 XCD

2.1M XCD

7.9M XCD

MINIMUM

AVERAGE

MAXIMUM

$330,000

$780,000

$2.9M

House price

1M XCD

6.3M XCD

9M XCD

MINIMUM

AVERAGE

MAXIMUM

$390,000

$2.3M

$3.3M

Villa price

1.3M XCD

7M XCD

10M XCD

MINIMUM

AVERAGE

MAXIMUM

$470,000

$2.6M

$3.9M

The average price of a studio apartment in Grenada can range from 100,000 XCD to 310,000 XCD depending on location. One bedroom cost can be anywhere from 130,000 XCD to 790,000 XCD. A villa can cost you 7M XCD on average with prices ranging from 1.3M XCD to 10M XCD.

House / apartment prices to income ratio

Property prices in Grenada can be x116 to x209 multiples of the monthly income depending on the property and the income of the person. On average, property prices are approximately x116 multiples of the average monthly salary in Grenada.

Rent to income ratio

The average rent-to-income ratio in Grenada 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 Grenada

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

Utility Bill Cost / Electricity + Water + Gas / Student

18 XCD

120 XCD

790 XCD

MINIMUM

AVERAGE

MAXIMUM

$6.8

$44

$290

Internet and cable cost

31 XCD

63 XCD

84 XCD

MINIMUM

AVERAGE

MAXIMUM

$12

$23

$31

Mobile phone bill and charges

25 XCD

42 XCD

130 XCD

MINIMUM

AVERAGE

MAXIMUM

$9.3

$16

$47

The average monthly energy and water consumption of students is around 120 XCD. The cost of internet and WiFi ranges from 31 XCD to 84 XCD with 63 XCD being the average internet bill. Finally, the average monthly mobile charges is around 42 XCD but can range between 25 XCD and 130 XCD 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 Grenada 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 Grenada

Prices and cost of goods and services in Grenada

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

Fast food combo meal price

6.3 XCD

13 XCD

21 XCD

MINIMUM

AVERAGE

MAXIMUM

$2.3

$4.7

$7.8

The average price of a regular combo meal at a fast food outlet or chain like McDonald's, Pizzahut, or KFC in Grenada is approximatly 13 XCD with meal cost ranging from 6.3 XCD to 21 XCD. The typical combo meal consists of a burger, french fries, and a drink.

Restaurant meal for one price

21 XCD

31 XCD

63 XCD

MINIMUM

AVERAGE

MAXIMUM

$7.8

$12

$23

If you are planning to have a nice meal at a mid-range restaurant, expect to pay anywhere between 21 XCD and 63 XCD with 31 XCD being the average price of a plate for one person at a regular restaurant in Grenada.

Fine dining meal for one price

42 XCD

63 XCD

250 XCD

MINIMUM

AVERAGE

MAXIMUM

$16

$23

$93

The price range of a meal at fine-dining restaurant is 42 XCD to 250 XCD with the average cost being 63 XCD for one person. This is what you would expect to pay a top-tier diner in Grenada.

Beverage prices, cappuccino, latte etc..

5.2 XCD

8.4 XCD

13 XCD

MINIMUM

AVERAGE

MAXIMUM

$1.9

$3.1

$4.7

The average price of a regular beverage like cappuccino or latte at Starbucks, Costa, or similar coffee shops and cafes in Grenada is around 8.4 XCD. Price ranges between 5.2 XCD and 13 XCD depending on the type of beverage, the size, and optional add-ons.

Grocery and market costs

Large bottle of milk price

4.2 XCD

5 XCD

6.3 XCD

MINIMUM

AVERAGE

MAXIMUM

$1.6

$1.9

$2.3

The average price of a large bottle of milk in Grenada is 5 XCD. The maximum what you would pay for milk is 6.3 XCD and the minimum being 4.2 XCD depending on the brand of milk and other properties.

12 eggs price

3.1 XCD

4.2 XCD

6.3 XCD

MINIMUM

AVERAGE

MAXIMUM

$1.2

$1.6

$2.3

A dozen eggs costs around 4.2 XCD on average with 3.1 XCD and 6.3 XCD being the lower and upper limits respectively.

Fresh whole chicken price

7.1 XCD

9.2 XCD

13 XCD

MINIMUM

AVERAGE

MAXIMUM

$2.6

$3.4

$4.8

The price range of a fresh whole chicken in Grenada is between 7.1 XCD and 13 XCD depending on the size of the chicken and whether it is oraganic or not. The average price is approximatly 9.2 XCD.

Pack of beef price

8.4 XCD

13 XCD

25 XCD

MINIMUM

AVERAGE

MAXIMUM

$3.1

$4.7

$9.3

The price of a regular pack of beef or meat is around 13 XCD. A pack of beef contains around 1Kg or 1lb depending on packing.

Medium bag of rice price

3.4 XCD

4.6 XCD

6.6 XCD

MINIMUM

AVERAGE

MAXIMUM

$1.3

$1.7

$2.4

A bag of rice in Grenada costs around 4.6 XCD on average with prices rangeing between 3.4 XCD and 6.6 XCD depending on the brand and quality.

Bag of tomatos price

1.3 XCD

1.7 XCD

3.1 XCD

MINIMUM

AVERAGE

MAXIMUM

$0.47

$0.62

$1.2

A bag of tomatoes costs anywhere from 1.3 XCD to 3.1 XCD. A bag of tomatoes denotes 1Kg or 1lb depending on location.

Bag of apples price

2.2 XCD

2.9 XCD

4.8 XCD

MINIMUM

AVERAGE

MAXIMUM

$0.83

$1.1

$1.8

A bag of apples costs 2.9 XCD 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 Grenada 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