Cost of Living in Belize

Foreigners who are moving to Belize to either live, work or retire will be surprised that despite being in the Central America, the cost of living in Belize is marked average as compared to other countries in the world in 2016.

Alchohol, tobacco, clothing, communication, furniture and personal care are the ones that tend to be costly. However, they are balanced out by cheap education, groceries, accomodation and transport.

Renting

Finding a rental accommodation in Belize is no tough job, especially since there are a lot of real estate agents that can help foreign nationals find a suitable apartment that would fit their needs. A plus factor also in the easiness of looking for an apartment is the fact that most of the people in the country speak English.

Monthly rent estimates as follow: 

• One-bedroom apartment in the Belizean city centre: US$200 - US$350
• Three-bedroom apartment: US$600 - US$1,500
• One-bedroom apartment outside the city centre: US$180 - US$380
• Three-bedroom apartment ranges from US$250 to US$1,100

Lease agreements in Belizean apartments are normally for six months or one year. Tenants should also be aware that they will shoulder all the utility bills of their rented apartment, and more often than not, utility companies charge a large amount of deposit before any kind of utility is connected.

Utilities

The price range for basic utilities in Belize such as electricity, water, heating and garbage are from US$50 to US$130.

Installation of a standard phone costs about US$56 with a deposit of US$75. The basic monthly telephone fee is US$13.50, but international rates are quite high.

Internet connection rates for cable/ADSL with a speed of 6Mbps and unlimited data costs approximately US$40 to US$50.

Food Consumption

Dining out in Belize at an inexpensive restaurant costs around US$6 to US$8, while a three course meal for two persons at a mid-range restaurant ranges from US$25 to US$55.

• A 1.5 litre of bottled water: US$0.90
• One litre of milk: US$1.42
• A loaf of white bread: US$1.06
• A dozen eggs: US$1.83
• One kilogram of local cheese: US$5.44
• One kilogram of white rice: US$2.96
• A bottle of mid-range wine: US$14
• Domestic beer: US$1.88
• Imported beer: US$4
• A pack of cigarettes: US$2.62

Transportation

Gasoline prices in Belize are said to be quite costly. The most recent price was about US$5.50 a gallon, but there is a black market fuel called “bucket gas” which costs around US$3 a gallon.

For those taking the public transport, a one-way ticket costs about US$5 to US$25, while a regular monthly pass costs around US$30 to US$60. Taxi fares start at US$3.25.

Taxation

All Belizean workers who have an income of less than BZ$20,000 per year are exempted from paying income tax. All other workers who earn more than the said rate are subject to a flat rate of 25% tax on their salary.