What Is The Cost Of Living In Puerto Rico?

What Is The Cost Of Living In Puerto Rico?

August 19, 2022 Off By Altaf

Attention reader! Today I am going to give you the cost of living in Puerto Rico. Puerto Rico is a territory of the United States, it is neither a state nor an independent country. But the cost of living in Puerto Rico is, on the whole, significantly lower than that of the United States. Puerto Rico is known for its beautiful beaches, and with 270 miles of sandy shores, there is no shortage of which type of beach you will find there. So, let’s come to the cost of living in Puerto Rico.    

What Is The Cost Of Living In Puerto Rico? 

The cost of living in Puerto Rico is 13% more than in the United States. The table given below will give you the average cost of living in Puerto Rico. Consider, the cost of grocery which is 122.7 in Puerto Rico, which means grocery prices in Puerto Rico are 22.7% higher than the United States average of 100. 

Cost Of Living ForPuerto Rico USA
Housing76.8 100
Grocery122.7100
Transportation97.4 100
Utilities185100
Health55.6 100
Median Home Cost$352,700$291,700
OverAll113100

Home Rent 

Is the cost of living in Puerto Rico high? When you consider the cost of house rent then, you find the average rent in Puerto Rico is, on average, 58.08% lower than in the United States. In Puerto Rico apartments are most common and are cheaper than freestanding houses. As with most places, housing is priciest in city centers and tends to be lower in outlying suburbs. The table will give you the cost of living in different cities in Puerto Rico including the cost of living in San Juan Puerto Rico.  

CityApprox 1 Bedroom RentApprox 2 Bedroom Rent
San Juan $459 $549 
Ponce $408$467 
Caguas $427$490 
Catano $459$549

Food Cost 

Can you live on $1000 a month in Puerto Rico? Probably not, because the average cost of food is $31 per day. And other than food, there are so many basic needs while living. In Puerto Rico, the cost of breakfast is relatively cheaper than lunch or dinner. The table given below will give you the approximate cost of dinner for 2 people in different cities in Puerto Rico.  

CityApprox Dinner For 2
San Juan $60 
Ponce $70 
Caguas $50
Catano $60

Travel Cost 

In Puerto Rico, the taxi rate per kilometer is $2, bus or train fare in the city center is $1.50 per kilometer. You can also use your own vehicle here, the patrol or gasoline rate is $0.75 per liter. 

Other Expenses 

There are so many expenses like health care expenses, taxes, internet costs, utility bills, and many more. Here are some expenses in daily life.  

Health Care 

The cost of healthcare in Puerto Rico is much less than you would expect, though it is important to be properly insured. Health insurance in Puerto Rico is well known for being affordable but comprehensive. In the year 2019, the annual health care budget in Puerto Rico was $367 million.  

Utility Bills 

The utility consists of electricity, heating, cooling, water, garbage collection, and internet. In Puerto Rico, the monthly bill of utility is about $210.30.  

Internet Bills 

According to a recent report on the internet industry worldwide places Puerto Rico in the 21st spot, out of the 142 countries, with the fastest average internet speed during the year 2020.  In Puerto Rico, the cost of the internet is not fixed and varies according to the speed and provider.  

Fitness 

When you see the cost of living in Puerto Rico vs Texas, you find Texas more expensive than Puerto Rico. Because of the high charges of gyms. When it comes to fitness, many people visualize the image of gyms or fitness clubs. But, it is not necessary to go to a gym or fitness club for fitness, you can also do exercise on your own. In Puerto Rico, the lowest cost of membership is $10 per month per person.  

Entertainment 

Entertainment and other activities in Puerto Rico typically cost an average of $37 per person, per day. This includes fees paid for admissions tickets to museums and attractions and other sightseeing expenses.  

Taxes 

If you are a bona fide resident of Puerto Rico during the entire tax year, you generally are not required to file a U.S. federal income tax return if your only income is from sources within Puerto Rico.   

FAQ

Is Puerto Rico Expensive To Live?

Total monthly expenses should typically be a total of four times your monthly rent, so you can expect to retire comfortably in Puerto Rico on about $2,000 per month. Even the more expensive parts of the island are still less expensive than most major U.S. cities.

Is It Safe To Live In Puerto Rico?

Puerto Rico is relatively safe for visitors, sporting a lower crime rate than other cities in the United States and being one of the safest Caribbean islands. Much of the violent gun crime in Puerto Rico relates to drug trafficking and gang activity, which doesn’t usually affect travelers.

Is Puerto Rico Cheap Living?

The cost of living in Puerto Rico is, on the whole, significantly lower than that of the US. However, it’s still by no means cheap. In Mercer’s Cost of Living Survey for 2020, San Juan ranked 66th out of 209 countries, placing it on a par with large cities worldwide such as Sydney and Amsterdam.

Do You Pay Taxes In Puerto Rico?

Residents of Puerto Rico are required to pay most types of federal taxes. Specifically, residents of Puerto Rico pay customs taxes, Federal commodity taxes, and all payroll taxes (also known as FICA taxes, which include (a) Social Security, (b) Medicare, and Unemployment taxes).

Get to know more such amazing facts by visiting here.

Conclusion 

While going through this article, now you know what is the cost of living in Puerto Rico. In this article, I have given you the cost of living in Puerto Rico in US dollars, because Puerto Rico is also a part of the United States. After reading this article, you won’t need to search about the cost of living in Puerto Rico in the future.

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