The cost of living in Guam is one of the most significant reasons to not move to Guam. Below we will discuss it in detail, by considering all costs like food, housing, transportation, healthcare, utilities, etc. Guam is an organised, unincorporated territory that falls under the United States in the Micronesia subregion of the western Pacific Ocean. Guam became a United States territory in 1898 and was placed under the jurisdiction of the United States Navy. It is famous for its military bases rather than its tourism sector, yet this far-flung tropical destination is a hidden paradise for vacationers in the know. Let’s head to the cost of living in Guam.
What Is The Cost Of Living In Guam?
The cost of living in Guam is $2294, which is 32% more than the national average cost of living. With this much cost of living, Guam is the 7th most expensive and 51st best state to live in the United States. When you see the cost of living Guam Vs Hawaii, then you will find that the cost of living Guam is 12% higher than the cost of living in Hawaii. Goods and services are expected to cost that much more in Guam than in Oahu, Hawaii. Below, we have given you a table consisting of the cost of living on Guam as compared to the National Average Cost of living.
|Cost Of Living For
|House Price per Sq Ft
Housing cost or the cost of house rent is the larger expense in the overall cost of living expenses. In terms of housing rent and prices, Guam is similar to many other places in the country. The cost of housing in Guam will vary with the location you choose, as well as the available amenities. Dededo, Barrigada, and Tamuning-Tumon-Harmon will offer higher-end options on Guam, although you will find a mix of prices within most surroundings. The average rent in Guam is $1,462 in affordable areas. To understand more about the housing costs in Guam, have a look at the table given below, showing the cost of rent for one and two bedroom houses in the different regions in Guam.
|Approx 1 Bedroom Rent
|Approx 2 Bedroom Rent
Food costs are not a major expense but also need to be considered while calculating the cost of living. The food cost in Guam is higher because here in Guam everything is imported. You will find fresh produce grown in Guam, and it can often be cheaper than what you will find in the grocery store. If you are moving from the mainland to Guam, some of the fruits and vegetables may not look familiar to you. The cost of living in Guam vs California in terms of the food cost, Guama has more food cost than California.
|Approx Dinner Cost For 2
How much is gas in Guama? Well, the price of gas in Guam is $1.39 per 1 liter or ¼ gallon of gas. Due to the high price of fuel like gas, the cost of transportation in Guam is also more. While looking at the cost of living in Guam vs the Phillippines, you will get that, the cost of living in the Philippines is 55% cheaper than in Guam.
Now, you have an idea of the cost of living due to food, housing, and transportation. But many other expenses need to be considered while calculating the cost of living. Let’s have a look at such expenses,
Guam cost of living Vs US has a huge difference because of the expensive health care cost. The average healthcare premium for Guam families is $795 per month and is on the rise. Global expenditure on health care is projected to reach about $10 trillion by 2022.
The monthly utility bills in Guam are high because everything here is imported. The monthly utility bill for two people in an 85 sq metre flat is $315. The monthly rent for 85 sq metre furnished accommodation in an expensive area is around $2,390, while the monthly rent for 85 sq meter furnished accommodation in a normal area is $1,708.
In Guam, internet service speeds go from 2.0 to online 15.0. They offer bundles of home phones, cable television, and internet that range from $60 per month to $196 per month. For those specifically looking for internet access only, prices range from $34.95 per month to $115 per month.
Well, the cost of fitness is not fixed and changes from gym to gym. If you don’t want to spend money on fitness, then you can also do it in your home. The average monthly membership will cost you around $20 for a single person.
The cost of entertainment in Guam can be between $50 to $300 for a family for one month. There are lots to entertain you in Guam. Top attractions in Guama are Tumon Beach, Ypao Beach Park, Two Lovers Point, Rigidity Point, Micronesia Mall, Gun Beach, Chamorro Village, etc.
In Guama, the tax law mirrors the United States federal tax law, and the Guam corporate tax rate is the same as the US federal corporate tax which is 21%.
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Is It Expensive To Live On Guam?
Monthly Rent for Average Accommodation
The monthly rent for affordable housing in Guam is 52% more expensive when compared to the rest of the country. The average monthly rent for 1BHK accommodation in the city centre is between $1488 and $2120, which is 21.5% more than the USA average.
Is Guam Cheap Or Expensive?
A single person estimated monthly costs are 1,442.6$ without rent. Cost of living in Guam is, on average, 32.1% higher than in United States. Rent in Guam is, on average, 6.5% lower than in United States.
Is Guam Good Place To Live?
Is Guam Safe? Another common question that’s asked is, “Is Guam safe?” Absolutely! Guam has always been known as a safe and welcoming destination. Expect a friendly culture whether you are just visiting or making a new start on the island.
Is It Cheaper To Live In Guam Or Hawaii?
Overall, Hawaii is a little more expensive than Guam. It’s a little farther out to sea too, which partially explains the higher prices.
Does Guam Have White Sand Beaches?
The beaches in Guam are just as diverse and colorful as its culture: there are beaches with beautiful white sand, magnetic black sand, and even green sand. If you travel to the north side of the island, you can find star sand as well.
By reading this article, you have understood the cost of living in Guam comparison with California, the Philippines, and Hawaii. Guam is one of the best places to live because it offers a good quality of life. But, there are some bad things about Guam. The climate of Guam can also be quite hot and humid, leading to a risk of dehydration and/or heat stroke. Also, earthquakes are commonly felt within the territory, these are usually of low-to-moderate intensity but have the potential to be stronger. Now, you have got all about the cost of living in Guam.
How much does it cost to live in Guam?