The cost of living in the U.S. Virgin Islands is higher than on the U.S. mainland. On average, apartments cost $2,000 per month.
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Dominican Republic, Belize (the only English-speaking country in Central America), Costa Rica, and Panama are a few of the most affordable islands to live on and double up as top destinations to visit.
Any place such as Bermuda, Hawaii, or the USVI has high grocery prices due to the cost of importing much of the island's food. We've encountered this before, having been to Bermuda twice and Hawaii four times. It just worsens over time, as prices in the mainland United States have increased.
Which Caribbean island has the most affordable real estate? The cheapest Caribbean islands to invest in property are Saint Vincent and the Grenadines and the Dominican Republic. Among the islands that offer citizenship by investment, Grenada has the most affordable property.
However, diesel fueled-generation increased at the end of 2022 after WAPA's propane supplier suspended fuel deliveries over a financial debt dispute with the utility. The USVI has some of the highest electricity rates in the world, in part because of petroleum fuel surcharges.