Cost of Living in Cayman
In this section we give you an idea of how much things will cost in the Cayman Islands.
In this section we provide you with the average cost to rent an apartment or house in Cayman, and also typical monthly household running costs. We also provide the average cost of other items such as housewares and grocery costs based on a survey of the retail prices in Cayman’s supermarkets.
We also have two cost of living scenarios that you might want to check out before you move: a couple without children and a couple with children. These two pages will show the variance in set-up costs in moving to Cayman if you have children and if you do not.
Living in Cayman as a couple without children will definitely be less expensive than with children. You may even be able to get away with living in a one bedroom apartment and sharing one car. Here we breakdown the expenses of this one-couple scenario.
Living in Cayman with children can be very expensive. While childcare in Cayman is actually very inexpensive compared to other parts of the world, the cost of school fees and health insurance for a family can be high. In this section we give you a breakdown of expenses for a couple with two children ages two and four. Keep in mind that school fees will increase with age.
Cayman has its own currency – the Cayman Islands Dollar (CI$). This is tied to the US Dollar and does not fluctuate. The exchange rate is CI$1 = US$1.20 However, the cash rate is traded at CI$1 = US$1.25 which means that US$20 cash is worth CI$16 or US$5 is worth CI$4. Don’t worry, you’ll get the hang of it pretty fast.
Hit the “Read More” button to use Cayman Resident’s helpful online calculator and currency convertor.