Cost of living in Grenada

 Grenada News
 Immigration News
As with many small islands, the cost of living in Grenada tends to be high; food, housing, transportation, and telecommunication costs are all high compared to other places in the world. 

Grenada uses the Eastern Caribbean (EC) dollar, which is tied to the US dollar at 1 USD = 2.67 EC. Most businesses will accept American dollars for purchases but return change in Eastern Caribbean dollars. ATMs are available across the island and allow per diem withdrawals of between $1,000 and $3,000 EC. 

Cost of living in Grenada is 92.51% higher than in Vietnam (aggregate data for all cities, rent is not taken into account). Rent in Grenada is, on average, 18.15% higher than in Vietnam. Foreign students are recommended to allot at least $2,000 US dollars for food and other purchases, and even more if they plan to live off-campus. 

Summary of cost of living in Grenada

Family of four estimated monthly costs: $3,495 (EC$9,444)

Single person estimated monthly costs: $1,604 (EC$4,334)

The table below shows the estimated distribution of expenses in Grenada.

grenada cost of living

Rent Per Month

Apartment (1 bedroom) in City Centre: 424.07 $

Apartment (1 bedroom) Outside of Centre: 319.74 $

Apartment (3 bedrooms) in City Centre: 1,172.02 $

Apartment (3 bedrooms) Outside of Centre: 597.02 $


Meal, Inexpensive Restaurant: 8.19 $

Meal for 2 People, Mid-range Restaurant, Three-course: 74.00 $

Water: (0.33 liter bottle) 1.19 $

cost of living in Grenada

Utilities (Monthly)

Basic (Electricity, Heating, Cooling, Water, Garbage) for 85m2 Apartment: 94.75 $

1 min. of Prepaid Mobile Tariff Local (No Discounts or Plans): 0.24 $

Internet (60 Mbps or More, Unlimited Data, Cable/ADSL): 69.95 $

Salaries And Financing

Average Monthly Net Salary (After Tax) in Grenada is 1,034.39 USD.

Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate is 5.50.

The table below shows estimated average salary of some occupations in Grenada.

average salary grenada
Average salary of some common jobs in Grenada

Quality of life

Quality of life in Grenada is comparatively high with impressive Safety Index and Health care Index. Other figures such as cost of living index, pollution index are moderate.

Purchasing Power Index: 41.22 (Very Low)

Safety Index: 73.41 (High)

Health Care Index: 65.28 (High) 

Cost of Living Index: 73.12 (Moderate)

Property Price to Income Ratio: 900.09  

Traffic Commute Time Index: 40.00 (Moderate)

Pollution Index: 49.54 (Moderate)

To know more about our investment program in Grenada, read frequently asked questions about it here.