Living Expenses in Costa Rica

Relative to the rest of the world, living in Costa Rica affords one of the highest qualities of living for a relatively low cost. In many areas, such as those outside of San Jose, a single person can live comfortably enjoy Costa Rican living on as little as $700 USD per month!

When it comes to day-to-day living expenses, Costa Rica is hard to beat. Utilities cost significantly less here, and as more of the utility industry is opened up to the private sector, prices will continue to go down while service continues to rise. Because Costa Ricans enjoy a warm climate year-round, you’ll never have to face another heating bill for as long as you live there.

Taxes in Costa Rica are conveniently taken right out of your paycheck each cycle, so you don’t have to worry about paying a lump income tax sum every April 15th. The percentage is based on the value of your paycheck (in corones, the Costa Rican currency), but the average person living in Costa Rica should expect to pay about 10%. With these taxes, you are entitled to all of the government services in Costa Rica, such as access to state-run healthcare in over 30 hospitals and more than 500 clinics across the country.

Even better, unlike in the United States, Costa Rican taxes only apply to money earned within the country while living in Costa Rica. In other words, you’ll never pay taxes in Costa Rica on money you earned elsewhere.

Living in Costa Rica you can enjoy a leisurely walk down to the farmer’s market each day for the ripest, freshest foods at a fraction of the cost of what you’d pay most everywhere else in the world. Eating out at imported foreign chains, like McDonalds, Burger King, or TGI Friday’s will cost a little more, but still less than back in the States.

The only economic downside to living in Costa Rica is the cost of cars in Costa Rica. Imported cars in Costa Rica are subject to Costa Rican taxes that generally equal 70% to 130% of the blue book value of the car. When shopping for cars in Costa Rica, those living in Costa Rica can expect a selection of mainly older vehicle models, due to the high cost of importing newer editions.

That said, it’s important to keep in mind when considering living in Costa Rica that owning cars in Costa Rica is not necessary in order to enjoy a normal, fulfilling life. Many people living in Costa Rica take advantage of the plentiful taxicabs and shuttle buses, especially in and around major cities like San Jose. Taxi drivers are almost always fair and affordable -- if only that could be said about other parts of the world!

Not having a car in Costa Rica means that on top of all your other savings -- not to mention your calmer, more relaxed lifestyle -- you won’t ever have to deal with the expense and hassle of vehicle registration, car payments, gasoline, or car insurance!

All in all, the cost of living in Costa Rica is very affordable, with many foreigners realizing that they can lead a much better quality of life in Costa Rica than they could in their home country for far less money.

by David Lovendahl, Costa Vista Marketing

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