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Cost of Living – Can you afford St. Croix?

Cost of Living in St. Croix

Cost of Living in St. CroixMany people are curious about the cost of living here – and how things compare with the mainland.

There are some truly fantastic restaurants and the prices compare favorably with good restaurants in major cities on the mainland. A nice meal will cost anywhere from $17 – $45 a plate, not including drinks. Lunches are typically $10 – $20. A good burger will set you back about $10. Many of the sandwiches here are gigantic – so while they may cost a bit more than you’re used to, they are typically big enough to share.

Fortunately, you can find just about ANYTHING you want in our grocery stores (unlike many Caribbean islands). Prices are higher though, sometimes considerably higher. On average, prices are about 20% more than in the states.

Gas prices for our vehicles is comparable to those on the Mainland U.S. Our electricity is much more expensive. Water is inexpensive – in most cases collected in cisterns and free! Natural gas is sold in canisters that can be delivered to your home and are reasonably priced. Cable, internet, and phone are all comparable to the mainland.

Property taxes are, for homes and condos .00377 x the purchase price; for land, .004946 x purchase price. We don’t pay ‘state’ income tax. There is no tax on any type of consumable or retail goods or services. There is a 12.5% hotel tax (charged on rentals of less than 3 months). There is a 5% gross receipts tax for independent contractors, entrepreneurs and business owners. This percentage is charged for any income OVER $9,000 per month.

Windstorm insurance is costly – typically about 2 – 3% of the price of your home, and required if you have a mortgage. Most condos here include hurricane insurance in their monthly condo fees, which generally range from $500 – $1,300 a month.