If you're planning to move to Bermuda in 2026, here's what things cost
Monthly Cost Breakdown
| Category | Monthly Cost | Notes |
|---|---|---|
| Rent (1BR, City Centre) | €3,442 | Largest expense |
| Rent (3BR, City Centre) | €7,919 | For families |
| Groceries | €552 | One person, home cooking |
| Public Transport | €63 | Monthly pass |
| Utilities (85m2) | €234 | Electricity, water, heating |
| Dining Out (per meal) | €51 | Inexpensive restaurant |
| Total (Single Person) | €4,699 | Comfortable lifestyle |
Income vs Expenses
| Income Metric | Amount |
|---|---|
| Average Salary (Gross) | €6,759/month |
| Minimum Wage | €BMD 16.40/hr (~€2,620/mo)/month |
| Salary After Rent (1BR) | €3,317/month |
With an average salary of €6,759 and rent of €3,442, approximately 51% of income goes to housing.
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Cost Indices (vs New York City = 100)
| Index | Score | Interpretation |
|---|---|---|
| Cost of Living | 135.8 | More expensive than NYC |
| Rent | 108.2 | More expensive than NYC |
| Groceries | 143.4 | More expensive than NYC |
| Restaurant Prices | 147.5 | More expensive than NYC |
| Local Purchasing Power | 101.3 | Comparable than NYC |
Money-Saving Tips
- Shop at local markets: Fresh produce is typically 20-40% cheaper than supermarkets
- Cook at home: Eating in saves 60-70% compared to dining out
- Use public transport: Monthly passes are much cheaper than car ownership
- Live outside the centre: Suburbs offer 20-40% lower rent with reasonable commutes
- Compare utilities: Switch providers for electricity and internet to get better deals
- Student discounts: Available for under-26s on transport, museums, and cultural events
Salary by Sector
| Sector | Entry Level | Median | Senior |
|---|---|---|---|
| It | €54,460 | €93,825 | €122,130 |
| Retail | €32,570 | €47,350 | €57,860 |
| Finance | €56,660 | €98,200 | €130,920 |
| Education | €40,230 | €56,200 | €68,540 |
| Healthcare | €58,450 | €76,450 | €102,080 |
| Engineering | €48,950 | €68,540 | €92,360 |
| Hospitality | €28,840 | €41,640 | €55,220 |
| Construction | €40,780 | €48,130 | €60,040 |
Figures are annual gross salaries in EUR.
Frequently Asked Questions
Can I live comfortably on a remote worker salary in Bermuda?
With a monthly budget of approximately €4,699, a remote salary of €2,000-3,000/month would provide a Moderate lifestyle. Research specific cities for the most accurate picture.
What is the average salary in Bermuda?
The average monthly salary in Bermuda is approximately €6,759 gross. The minimum wage is €BMD 16.40/hr (~€2,620/mo)/month. Local purchasing power index is 101.3/100.
How does purchasing power compare in Bermuda?
The local purchasing power index in Bermuda is 101.3/100 (NYC = 100), meaning purchasing power is comparable to NYC. This factors in both incomes and costs.
What is the cost of living in Bermuda in 2026?
A single person in Bermuda needs approximately €4,699/month for a comfortable lifestyle, including rent (€3,442), groceries (€552), transport (€63), and utilities (€234). The cost of living index is 135.8/100 compared to New York City.
What does public transport cost in Bermuda?
A monthly public transport pass costs approximately €63. Annual passes often offer significant discounts. Most major cities have integrated ticketing systems for buses, trams, and metro.
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