Expat Cost of Living in Belize

Expat Cost of Living in Belize

Let’s go over the expat cost of living in Belize.

If you want to invest as an expat or high-net-worth individual, which is what i specialize in, you can email me (advice@adamfayed.com) or use WhatsApp (+44-7393-450-837).

Introduction

There’s no getting around the reality that some regions in Belize are dangerous. Tourist locations, like other countries, attract small crime, and there are particular sites you should avoid after dark. It’s critical to do your homework to ensure a smooth transition to Belize and a quick start. This is why you’re reading this.

Currency in Belize

The Belize dollar is the country’s official currency. For clarity, this is usually expressed as $ or BZ$. You may also notice the currency code BZD in currency exchanges.

Due to market volatility, the value of the BZD in relation to the US dollar varies all the time. When you go to Belize, it might be difficult to keep track of how far your money will go because of this. The mid-market USD-BZD exchange rate at the time of writing is 1 USD = 2.03 BZD.

Average Wage in Belize

Many individuals go to Belize to retire, however, there are other expatriates who opt to work in the nation. If you’re considering working in Belize, you can use Teleport’s live data to compare typical incomes in your field between Belize and the United States. To get you started, here are a few samples.

JobAverage Salary
Data Analyst30,672 USD
Graphic Designer23,011 USD
HR Manager38,769 USD
Web Developer34,158 USD
IT Manager45,119 USD
Copywriter 26,097 USD
Physician91,703 USD
Average Wage in Belize

Expat Cost of Living in Belize vs Cost of Living in the US

Let us now look at one of the most important factors for many people contemplating relocating: the cost of living in Belize vs. the cost of living in the United States.

Let’s compare the prices of living in three major US cities to some popular expat locations in Belize:

CityOne bed city centre apartment – rent/monthMid-range, 3-course meal out for 2One month’s public transport ticket500g loaf of bread
Belize City, BZ274.52 USD60 USD50 USD1.86 USD
Ambergris Caye, BZ515.92 USD70 USDData unavailableData unavailable
Corozal, BZ700 USD27.32 USD27.64 USD1.75 USD
San Francisco, USA3,060.83 USD85 USD83.50 USD3.84 USD
Chicago, USA1,848.57 USD75 USD105 USD2.85 USD
New York, USA3,017.19 USD100 USD129 USD3.99 USD
Expat Cost of Living in Belize vs Cost of Living in the US

Expat Cost of Living in Belize for Retirees

If you’re thinking of retiring in Belize, the cost of living will be a significant consideration. Belize is a popular retirement destination due to the low cost of living and the availability of visas designed specifically for expat retirees – the Qualified Retirement Program.

The money you’ll need to budget for life in Belize after retirement can vary greatly depending on your preferences. It’s important to note that there are financial criteria for the Qualified Retirement Program visa. Aside from that, the cost of living will be determined by where you choose to live and your particular lifestyle choices.

Average Expat Cost of Living in Belize

The cost of living varies greatly depending on lifestyle, but on average, life in Belize is substantially less expensive than in the US. Here is an example:

  • Expat cost of living in Belize, family of 4 excluding rent: 2,217.17 USD
  • Expat cost of living, single person, excluding rent: 634.78 USD

When creating your Belize budget, consider the sorts of goods you’ll buy frequently as well as larger possible expenses like as transportation, schooling, and rent. 

Here are some average prices:

  • McDonalds meal — 6.50 USD
  • 330ml bottle of Coke/Pepsi — 1.08 USD
  • Liter of milk — 2.08 USD
  • Utilities for 85m² apartment — 95.08 USD
  • Fitness club membership — 34.34 USD
  • International primary school —13,000 USD/year

In general, the cost of living in Belize is much lower than in parts of the US. Of course, you may tailor your budget to your preferences and the amount of money you require to live comfortably will be determined by how you want to live, eat, and enjoy.

Here are some more specifics on the major expenses you’ll need to budget for.

Housing and Accommodation

Housing will always take up a sizable portion of your monthly budget, whether in Belize or elsewhere. While rental expenses in Belize are often cheaper than in the United States, you’ll discover a wide selection of alternatives available at a variety of pricing points.

Expat Cost of Living in Belize
Beach house in Belize.

Utilities and Rent

Accommodation type Average monthly cost in Belize

  • 1 bed apartment, city centre — 317.97 USD
  • 3 bed apartment, city centre — 736.85 USD
  • 1 bed apartment, outside city centre — 225.83 USD
  • 3 bed apartment, outside city centre — 448.93 USD
  • Utilities for 85m² apartment — 95.08 USD

Buying a House in Belize

If you want to stay in Belize permanently, purchasing a property may be a possibility. While costs vary depending on where you wish to buy, certain inner-city sites might be significantly less expensive than properties in famous tourist destinations outside of the major cities. Here’s how far your money can stretch.

  • Price per m² in city centre — 988.55 USD
  • Price per m² outside city centre — 2,583.34 USD

Transportation Cost

Service/item average cost in Belize:

  • 1 way public transport ticket — 1.99 USD
  • 1 month public transport ticket — 26.32 USD
  • 1 liter gasoline — 1.49 USD
  • New car – Volkswagen Golf 1.4 90 KW Trendline or equivalent — 26,127.80 USD

Food and Entertainment

We’ve previously discussed the prices of some essential food products in Belize, but the entire cost of eating and drinking in the country will be determined by your lifestyle and tastes. If you’re on a tight budget, eating seasonally and locally allows you to acquire the freshest food for the least amount of money. A three-course meal for two may cost roughly 33 USD.

Health and Dental Care

One disadvantage of living in Belize is that, depending on where you choose to live and your insurance coverage, access to medical infrastructure may be limited. It’s critical that you maintain and comprehend your medical and dental coverage in order to avoid unpleasant surprises.

Belize City is home to some of the most modern medical and dental facilities and hospitals in the country. If you reside elsewhere in the nation, you’ll want to look into the local possibilities as well as how you’ll go to a more complete medical institution if the need arises.

Cost of Education

There are private and foreign high school possibilities, but admission is competitive. These schools may be chosen by both expat and rich local families, so verifying availability of spots for your school-aged children ahead of time is a smart idea.

Homeschooling is an additional alternative. If you’re planning to study at a higher level in Belize, consider visiting the University of Belize, the country’s national university.

Expat Cost of Living in Belize
University of Belize

Final Thoughts

Starting a new chapter in one’s life as an expat is a thrilling experience. And Belize is unquestionably an interesting location to live.

Doing your homework ahead of time is the most effective approach to ensure that your relocation is successful and stress-free. Use this advice as a starting point, but don’t be hesitant to consult additional resources, such as government websites and expat blogs.

Pained by financial indecision? Want to invest with Adam?

Adam is an internationally recognised author on financial matters, with over 545.6 million answers views on Quora.com and a widely sold book on Amazon and a contributor on Forbes.

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