The Monthly Cost Of Living In Costa Rica

If you do decide to try Costa Rica, experts recommend renting for a while to get familiar with the various sections of the country before purchasing.

The central area, called Mesata Central or the Central Valley, is where most Americans end up settling. The country’s capital, San Jose, is also located here and offers important urban amenities.

Other appealing options include the country’s scenic beach communities, which are located on the Pacific and Caribbean sides. These areas are warmer than the valley region and the property costs and expenses are also higher.

Generally, you can expect to spend between $900 and $1200 a month for an individual to live well in Costa Rica.

This includes rent (which starts at $300 a month for a nice two bedroom apartment and $500 for a house, and goes up from there), health care ($25 a month per person), and a range of utilities and services.

To put this into perspective, understand that most native Costa Ricans live on between $400 and 600 a month. This means that with about double this amount in your budget, you will be able to pay for a wide range of luxuries you might otherwise not be able to afford in the United States.

You can also hire household help, such as maid service and a gardener, for about $1 an hour. Further, Costa Rica has an extensive public transportation system, so you can expect to pay about 50 cents for bus fare and won’t need to purchase a car there. (This is important, since cars and gas actually do cost more in Costa Rica than in the U.S.)

If, after renting for a while, you decide you want to buy, this is a feasible option since you don’t have to be a resident of Costa Rica in order to own property there. The price range really varies depending on the region. For instance, a home in a more rural area starts at $35,000, while a brand new two bedroom luxury villa in the popular Central Valley with lots of amenities can go for between $250,000 and $300,000. Keep in mind that the taxes on property are very high in Costa Rica, but to offset that expense, a decreased property value is generally recorded so buyers ultimately pay a discounted rate.

If you are want to purchase a home in Costa Rica, be sure to seek professional assistance to guide you through this complicated process. Also, be prepared for the fact that as an American to have more difficulty finding financing from financial institutions within Costa Rica than you would otherwise face in the United States.

See For Yourself

Costa Rica welcomes more than 1.6 million tourists each year from all over the world. If you are considering retiring there, it might be worthwhile to join them and see for yourself what the country offers. In addition to all of the benefits, Costa Rica also has one of the highest life expectancy rates, with residents there living to an average of 77 years of age. This is likely due to the relaxed lifestyle the people who live there enjoy every day.