Considering a move to Cozumel and curious to know more about the cost of living on the island? Whether you are just starting to dream and are feeling curious if it could be possible, or you are ready to pack up and go now, it's important to understand the intricacies of the cost of living in Cozumel, as it can vary widely based on your lifestyle choices.
Let's break down the key factors to consider when estimating your living expenses in Cozumel.
Cost of Housing in Cozumel
Before we look at the numbers, I want to stress how important it is to spend a bare minimum of one month on the island getting to know the different neighborhoods before committing to a living situation. This will allow you to see the day to day movement, noise levels, how well the streets drain when it rains, and all of those little details that you need to feel comfortable with. At Welcom Cozumel, we have properties throughout the island and can help you arrange your initial stay. As we also offer long-term rentals and have our eyes on local real estate, we will also be here for you when you are ready to commit to your island home (whether rental or purchased).
Long-Term Rentals
Over the last few years, the rental market in Cozumel has had some big changes. Many new condos have gone up, along with new house constructions and refurbishing older homes. This has created many more rental options but also higher rental prices.
It is still possible to live in Cozumel on a small budget, it just may take you longer to locate that perfect rental. Expect a simple studio or one bedroom to cost between $500-$700 per month. A simple 3 bedroom will start around 900 dollars per month.
If you are not limited by budget, you´ll have many more options. Besides the new condos being rented out, there are some amazing homes that will absolutely make you feel like you are living your dreams in paradise.
Housing is going to be the one place where there is the biggest span between what people pay depending on how basic or how luxurious you are looking for. With the growth of expats and long-term tourists, be prepared to take your time looking for your new home. And remember, Welcom Cozumel is here to help you find your perfect long-term rental.
Utility Costs in Cozumel
Again, the costs of utilities will vary greatly based on your lifestyle. Of the utilities, electricity will be the one that varies the most. Some people pay under 300 pesos a month while others are paying over 3000 pesos monthly. If you are needing to stick to a budget, you will do things like only use your AC at night and be able to keep your electric bill on the low end, between $30 and $50 dollars per month.
Other utility costs averages look like this:
Internet: $30US per month
Cell Phone: $10-20US per month
Water: $30 per month
Cost of Groceries and Eating Out
The more you eat and shop like an island local, the lower your food budget will be. But if you seek out your favorite imports, groceries can cost just about the same as they do back home. For those trying to stick to a budget, plan on around $300-500 dollars for groceries a month.
As far as eating out, at one end, you can find some amazing local establishments for ultra-budget friendly meals. At the other end, Cozumel is experiencing a boom in high-end restaurants where you can easily spend over $100USD per person. So, from under $10 to over $100, and everywhere in between, your budget will depend on your tastes.
As with any other location, it is hard to pin down the average cost of living in Cozumel. With the fast growth that the island is experiencing, it creates a bit of a “wild west” with housing costs. That’s why it’s important to take your time and find housing that meets your needs and fits your budget. Many are able to live on a monthly budget of around $2000 USD, but doing so will take planning and discipline. Most likely, your budget will need to be higher.
To know for certain if you could live the lifestyle you desire in Cozumel, your best bet is to start with some short-term rentals and get a feel for your other expenses such as food and entertainment, while also scoping out the longer term renal market.
And remember, Welcom Cozumel is here to help you with your Cozumel dreams!
Comments