 Many people are curious about the cost of living here -and how things compare with the mainland. Here's my 2 Cents:
Dining Out: There are some great restaurants and the prices compare favorably with good restaurants on the mainland. A nice meal will cost anywhere from $17 - $35 a plate, not including drinks. Lunches are typically $8 - $15. A good burger will set you back about $8. Many of the sandwiches here are gigantic - so while they may cost $8 - $10 - they are big enough to share. Groceries: The good news is you can find just about ANYTHING you want in our grocery stores (unlike many Caribbean islands). Prices are higher though, sometimes considerably higher. I'd say on average, prices are about 20% more than in the states. Gas: Our gas is about the same as in the states, thanks to Hovensa, the large oil refinery on the island. Utilities: Our electricity is expensive. Water is inexpensive - in most cases collected in cisterns. Natural gas is sold in cannisters. It costs us about $200 a year for gas - which powers our hot water heater. Entertainment: Lots of it, and it's very reasonable - most times free. Free parking too. Cable, Internet, phone: All comparable to the mainland. About $50 a month for high speed DSL, about $60 a month for cable + HBO, phone is about $35/ month. Taxes: Property taxes typically less than in the states. Right now (this is subject to change) - about $750 per $100,000. We don't pay 'state' income tax. There is no tax on any type of consumable or retail goods or services. There is an 8% hotel tax. There is a 4% gross receipts tax - basically "income tax" for business owners. Insurance: Windstorm is high - typically about 2 - 3% of your mortgage - and required if you have a mortgage. Insurance is 2+% of the reconstruction cost of improvements. Most condos here include insurance in their monthly condo fees (condo fees range from $400 - $1200 a month). For specifics and real estate prices in St. Croix, contact me by filling in the form below and ask for Kim's Report on Everything You've Always Wanted to Know about Retiring to St. Croix but Didn't have a Realtor to Ask. Kim Lucas, REALTOR®
kim@email.vi
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