Grenada has emerged as a popular expat destination in recent years. Known for its stunning beauty and welcoming locals, the ‘Spice Island’ is the Caribbean’s latest hotspot. This guide reveals everything you need to know about the cost of living in Grenada vs the US, including the living expenses for a single person and family of four, health insurance options, and tuition fees.
An Overview of Grenada's Cost of Living
Compared to most Caribbean islands and overseas territories, the cost of living in Grenada is affordable, offering the opportunity to live a high-quality lifestyle at a low cost. The average price of groceries, dining out, higher education, and purchasing property in Grenada makes the country appealing to foreigners from countries like the USA and the UK seeking to reduce their monthly cost of living.
Taxes are an unavoidable living expense, and Grenada employs a favorable tax regime that reduces the overall tax burden for residents. The country doesn’t impose worldwide income tax, capital gains tax, wealth tax, or inheritance tax.
As a tropical paradise in the Caribbean, there’s an abundance of free outdoor leisure activities, such as hiking through Grand Étang National Park and swimming in waterfalls like Mount Carmel Falls.
Grocery Costs in Grenada
The Grenada cost of food is very affordable, especially if you consume local products. In Grenada’s markets and grocery stores, you can find locally produced food, fruits, and vegetables at low prices — such as spices. Here are the average prices for everyday food products:
Item | Average Price |
White rice (1kg) | $1.83 |
Milk (1 liter) | $1.31 |
Fresh white bread (500g) | $1.37 |
Bananas (1kg) | $2.27 |
Oranges (1kg) | $2.06 |
Eggs (12) | $3.57 |
Onions (1kg) | $2.09 |
Potatoes (1kg) | $1.86 |
Tomatoes (1kg) | $4.82 |
Cheese (1kg) | $11.18 |
Chicken (1kg) | $6.94 |
Beef (1kg) | $15.91 |
Domestic beer (0.33 liter) | $1.82 |
Mid-range bottle of wine | $9.46 |
Cost Utilities in Grenada
Utilities in Grenada generally encompass electricity, water, garbage collection, internet, and telephone services, and costs can vary significantly. Power is primarily generated from diesel and can fluctuate based on the cost of fuel imports and fluctuating oil prices.
Nevertheless, you can expect to spend around $217 monthly on basic utilities in Grenada for an 85-square-meter apartment. Mobile phone plans and high-speed broadband are more affordable in Grenada than in the USA, with mobile phone plans costing $18.50 in Grenada versus $53 in the US, and broadband internet access priced at $44 in Grenada compared to $70 in the US.
Cost of Eating out in Grenada
Grenadian cities like St George’s, the capital city, Carriacou, St Davids, and Lance aux Epines are famous for their international restaurants. According to Numbeo, you’ll spend around $77 for a three-course meal for two people at mid-range restaurants like BB’s Crabback and Nutmeg Bar and Restaurant.Â
Affordable diners are strewn across the island, where you can buy meals at inexpensive restaurants for about $7.46. Dubbed the ‘Spice Island,’ Grenada’s culinary offerings are famous for their fresh ingredients and unique spices. Be sure to sample Grenada’s national dish, ‘oil down’ — a hearty stew made with breadfruit, meat, vegetables, coconut milk, and spices. Â
Grenada Transport Costs
For a small Caribbean island, Grenada has excellent transport infrastructure. Maurice Bishop International Airport, the island’s only international airport, offers direct flights to the US, Canada, and Europe. A return flight to Miami International Airport with American Airlines will cost around $450.Â
You can purchase a one-way ticket on the island’s public transportation for $1.11. Taxis are also available and widely used.Â
Like most Caribbean countries, imported goods, including vehicles, are more costly than in the US and Europe. A new Toyota Corolla Sedan or equivalent car will cost about $31,000 compared to $27,000 in the US. You can also expect to pay more for a few at $1.36 per liter of gasoline.
Take a look at our Grenada Citizenship by Investment Ultimate Guide
Grenada Healthcare Costs
Most US residents know that healthcare significantly increases the average cost of living. The good news is that Grenadian healthcare is affordable, and that the country has one of the Caribbean’s best healthcare systems.
The island has thirty medical stations, six health centers, and eight hospitals. Grenada’s primary medical facility is the St George’s General Hospital. Despite its comprehensive medical infrastructure and health services, Grenada isn’t equipped for specific treatments, requiring patients to seek advanced health care abroad for severe conditions.
Foreigners living in Grenada are advised to take out private medical insurance that includes evacuation coverage. Sagicor Life, MSH International, and Pacific Prime offer private health insurance on the island. The Grenada government provides universal primary healthcare at approximately $535 per resident, accounting for five percent of the nation’s GDP.
Cost of Studying in Grenada
Public education in Grenada is free and compulsory for children between 6 and 14. Private kindergarten fees are approximately $200 per month. An international primary school will incur yearly fees of about $1,650.
St George’s University School of Medicine in Grenada is one of the most renowned universities among Caribbean countries. For the 2024 to 2025 academic year, tuition is $20,858 per term for preclinical courses and ranges from $31,446 to $35,338 per term for School of Medicine courses, excluding administrative fees.
Real Estate Costs in Grenada
Renting in Grenada
Grenada offers some of the most affordable housing in the Caribbean, with much lower average rent prices in the US and UK. The monthly rent for a one-bedroom apartment in the city center averages $780, and for a three-bedroom apartment, it is around $1,700.
St George’s, Carriacou, Grand Anse, and Lance aux Epines offer one-bedroom apartments outside the center for $435 monthly and a three-bedroom apartment for around $660.
Expense | Grenada |
One-bedroom apartment (city center) | $640 |
One-bedroom apartment (outside the center) | $370 |
Three-bedroom apartment (city center) | $1,130 |
Three-bedroom apartment (outside the center) | $645 |
Buying Grenada real estate
The Grenada property market is an attractive option for real estate investment, including historic colonial homes, family bungalows, beachfront condos, and luxury villas. The real estate market has plenty of options. Foreign nationals interested in buying property in Grenada can expect to spend $2,500 to $5,000 per square meter.
Additional costs of buying property include obtaining an Alien Landholding License amounting to ten percent of the property value.
Cost of Living in Grenada vs the USA
The average cost of living in the US, including monthly rent and daily expenses, is higher than in Grenada for both a single person and a family of four.
Expense | Grenada | United States |
One-bedroom apartment (city center) | $950 | $1,165 |
One-bedroom apartment (outside the center) | $3,300 | $4,150 |
Three-bedroom apartment (city center) | $500 | $1,600 |
Three-bedroom apartment (outside the center) | $890 | $2,665 |
Grenada Economic Citizenship Cost
Foreign nationals can buy approved Grenada real estate or donate to the country’s government fund through Grenada’s citizenship by investment program and obtain a Grenada passport for themselves and their family members.Â
Purchasing real estate in Grenada costs $220,000 for a joint investment and $350,000 for an individual investment. Investors can contribute $150,000 to the National Transformation Fund (NTF) and obtain a second passport in nine months.
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Frequently Asked Questions about the Grenada Cost of Living
The average Grenada living costs are affordable compared to the USA and the UK, including the average price of groceries, restaurants, higher education, and real estate. However, you can expect to pay more for imported items such as vehicles.
The average house price in Grenada is cheaper than most other Caribbean islands. You can buy a two- or three-bedroom house in St George’s for $200,000 to $400,000.
Living in Grenada can be cheap for most foreigners. Without rent, monthly costs for a single person to live a moderate lifestyle can be less than $1,000. If you’re living in Grenada with a family, a family of four estimated monthly costs are around $3,000 to $3,500.
Living expenses in Grenada vary based on location and lifestyle. Figures from the cost-of-living index, Numbeo, suggest monthly living expenses for a single person are about $950, excluding rent, and for a family of four, they hover around $3,300. Expect to pay around $44 monthly for broadband internet with unlimited data, $18.50 for a monthly prepaid mobile tariff, and $45 for a monthly pass to the gym.
Retiring in Grenada requires investing at least $150,000 in the country’s economy and monthly living expenses of $1,500 to $2,500.
Housing costs in Grenada vary widely depending on the location and size of the property. Rent for a three-bedroom house in the city center costs about $1,130 per month, and outside the center, about $645.Â
The average salary in Grenada is $1,117 per month; however, this depends on the job role and individual qualifications.
The cost of living in Grenada in US dollars will depend on your lifestyle choices, personal circumstances, and location. On average, a family of four estimated monthly costs are $3,000 to $3,500, without rent.
If you’re moving to the Caribbean island of Grenada, you’ll find one-bedroom apartments for rent in the city center for around $780 per month. For those moving to Grenada with a family, a three-bedroom city center apartment is available for about $1,700 monthly. Outside city center locations of the island’s main cities like Carriacou, St George’s, and Grand Anse, real estate prices and average costs of rent are much lower.
