Cost of Living in Bermuda
Upscale Atlantic territory with pink sands and zero income tax, catering to reinsurance pros and those seeking safety.
Open a Wise account$5,972
Average cost per month
Distribution of Expenses
Cricket & business shorts
Pink sands & mid-Atlantic isolation
Global finance hub; exclusive prices
Cost of living breakdown for Bermuda
Living costs in Bermuda can vary. You can expect to spend around $5,972 per month for 1 person as of 2026, on common living costs such as housing, food, and transport.
Housing
Standard of Living
Food & Drink
Bermuda average costs for food and drink.
Salary & Services
Bermuda average salaries and services.
Average living costs in Bermuda
| Item | Average price | Price range |
|---|---|---|
| 1 Bedroom Apartment in City CentreRent Per Month | $3,741.43 | $2,500.00 - $4,500.00 |
| 1 Bedroom Apartment Outside of CentreRent Per Month | $2,450.00 | $2,000.00 - $3,470.00 |
| 3 Bedroom Apartment in City CentreRent Per Month | $8,608.33 | $7,000.00 - $10,000.00 |
| 3 Bedroom Apartment Outside of CentreRent Per Month | $7,577.50 | $4,500.00 - $10,000.00 |
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Frequently asked questions
The cost of living in Bermuda depends on your lifestyle and location. On average, a single person needs $2,262 per month without rent, while a family of four requires $7,906. Renting a 1-bedroom apartment in the city centre costs an additional $3,741 on average.
Public transport prices vary, but generally, a one-way ticket for local transport in Bermuda costs $5. If you are commuting regularly, a monthly pass is typically priced at $69.
The average monthly net salary (after tax) in Bermuda is currently $6,997.
Dining costs depend on your choices. A meal at an inexpensive restaurant in Bermuda costs approximately $55, while a three-course meal for two people at a mid-range restaurant costs around $150.
The estimated monthly cost of living in Bermuda for a single person is $2,262, excluding rent.
For a family of four living in Bermuda, the estimated monthly costs are $7,906, not including rent.
Rent prices in Bermuda depend on location. The average monthly rent for a 1-bedroom apartment in a city centre is $3,741, compared to $2,450 outside the centre. For a 3-bedroom apartment, the average is $8,608 in city centres and $7,578 in suburban areas.
Basic utilities in Bermuda (including electricity, heating, cooling, water, and garbage for an 85m² apartment) cost an average of $254 per month. Internet access typically adds another $153.