The cost of living in the Cayman Islands will often vary depending on a number of factors, including choice of accommodation, entertainment and lifestyle. The summary below highlights the average range of costs. All items are in Cayman Islands dollars which is equivalent to US$1.20.
Accommodation
A large selection of apartments and condos are available for long term rental. Accommodation costs vary dramatically with location (proximity to George Town, beachfront, canal, waterfront), condition of the premises and facilities (pool, dock, tennis court). The rental costs for a reasonable apartment/condo are as follows:
| | 1 bedroom | 2 bedroom |
| Beach or canal | | $1,500 + | $2,500 + |
| Off the beach | | $900 + | $1,800 + |
Utilities (electricity and water)
Average monthly electricity charge (including air conditioning) for 1 to 2 bedroom range from $100 to $250, with higher costs generally incurred over summer. Average monthly water charge range from $50 to $100.
Security deposits are required for electricity and water services and vary significantly with apartment/property size. Electricity $100 to $500 and water approximately $200.
Cable
Generally the cost of cable (approximately $65 per month) is included in monthly rental charge.
Telecommunication
Basic monthly connection with voicemail is approximately $15. Long distance charges range from $0.50 to $0.90 per minute within the Caribbean, $0.60 to $1.20 per minute to the US & Canada and $0.80 to $1.60 per minute for the rest of the world. Security deposit for new phone service ranges from $100 to $350, dependent upon payment method.
High speed unlimited at $85/month.
Vehicle
The cost of a basic mid-size used car can range from $3,500 to $10,000 depending on size and age. Insurance premiums generally range from $300 to $800 per year. Some discounts are available and it is worthwhile to arrange a reference letter from a previous insurer.
A three year drivers license cost $65. Vehicle registration can be purchased for either a six-month period or a full year. The annual inspection and registration fees are approximately $200.
Food Costs
There are several grocery stores on the Island which offer a wide selection of fresh and packaged goods. The average cost for groceries for one month can range from $250 to $500, depending on the size of your family.
Health Insurance
Health insurance is mandatory. The firm has arranged basic group health cover with a local recognised insurer and contributes half of the monthly health insurance premium for employees and their families. Employee contributions are made by way of salary deduction. Some pre-existing conditions may be specifically excluded from coverage by local insurers.
