Cost of Living In Nicaragua

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Nicaragua and its beauty is something that you would not want to miss in your life. This country, which is the largest in Central America, has also the biggest bio diverse ecosystems. Its location is bordered by Honduras, Costa Rica, Caribbean Sea and the Pacific Ocean. In here, you’ll see a lot of mountains, volcanoes, beaches and rainforests. Hidden in these beautiful places, you will see the countless of species that are unique to this place. But what about the cost of living in Nicaragua? How does it compare to the United States? Is it cheaper to live in Nicaragua?

The economy of Nicaragua is dependent on the natural resources that they have. The agricultures, fishing, forestry, mining and energy are all great contributors to the economy. Of course, you would expect tourism to be a strong industry here in Nicaragua especially with the scenery that you would get when you are here.

In Nicaragua, they use their own currency which is the Cordoba (C$). While you can also bring your US Dollars here, you have to make sure that you also have your Cordoba bills. The Cordoba exchange rate is at C$ 1 is equivalent to 0.047 USD and 0.032 EUR. Besides from the beauty of this place, you will love it here because of how affordable the prices are here.

Housing Costs

Housing in Nicaragua is not a problem. Apartment rentals here cost at least $100 per month, and depending on how big your place is or where you plan on living. But you do not really have to spend so much when you live here in Nicaragua. As for houses, you can purchase one for at least $20,000 and get a decent place. When you get accommodations here in Nicaragua, you can expect to have all the utilities prepared for you. Renting an apartment or buying a home will already be a convenient thing to do when you live here.

Transportation Costs

It is very convenient to travel here in Nicaragua. A car is not really required here since there are a lot of public transportation vehicles available here. The gasoline price in Nicaragua is $2.16 per gallon. Probably the most convenient way of travelling is by riding a taxi $0.50 about 5km drive. For one-way ticket bus fares, it would only cost you around $2.50 per ride. This is practically the cheapest way to go around Nicaragua so if you want to make sure that you do not waste your money on transportation costs.

Average Cost of Monthly Utilities

Living in Nicaragua may cause you to spend for more than what you are used to for your monthly utilities. For electricity and water bills, a monthly budget of $250 will be enough. On the average, this may cost a bit more but if you carelessly use your electricity, this may be the bill that you would have to pay. Getting high-speed internet connection is very easy. They charge around $20 for a decent connection here. Monthly utilities here in Nicaragua are affordable but you also have to use these responsibly.

Cost for Maid Services

Wondering if there are maid salaries in Nicaragua, they actually have. There are a lot of maid services available here. The salary if maids that you hire in Nicaragua start at $280 per month. This is not bad since maid services here include housekeeping, laundry, gardening and cooking. Most maids are given a day off during Sundays even if they work full-time. You will always find it easier to hire full-time maids here in Nicaragua as their services are cheap and you can trust that they will do a good job when it comes to housekeeping.

Cost of Food and Drinks

Setting a budget for your food is not that expensive. You can already live for $120 per month for your groceries here. You can actually save a lot for food here because in Nicaragua, most local products are fairly cheap. You can get your vegetables, fruits, poultry and beef for a cheap price. As for dining out, you will actually find it very cheap. A complete meal costs around $3 at the most. If you want to go out and have dinner and a movie, $10 will be enough or even more than your expected budget. Basically, you do not have to worry about your cost for food and drink because you can indulge in whatever you like and still pay a fairly affordable price. Just make sure that you try out all of the native cuisines when you eat here.

Healthcare Costs

Healthcare is Nicaragua is quite impressing. These doctors have been trained to provide efficient service to their patients. Consultation with the doctor costs around $80 per visit depending n the specialization. Lab tests here would cost $150 on the average. Getting an insurance policy is the safest way that you can guarantee your safety when you live in Nicaragua. Insurance costs around $350 a year which roughly estimates to $30 per month when you pay for it. These insurance policies actually save you as much as 20% to 70% for your hospital fees.

Clothing Costs

Shopping for Nicaragua is something that you have to consider too. You can have at least $ 80 for clothing per month. The trick is to go to flea markets or shops that sell overrun products. You will find a lot of them here in Nicaragua. While there are also more expensive brands and imports that you will find here, it is best if you do not spend so much on these things. Eventually, you will get used to haggling and finding cheap spots where you can get your clothes with good quality here in Nicaragua.

As you can see you can enjoy a better standard of living as a baby boomer with a low cost of living in Nicaragua compared to the United States.

Learn More About Living In Nicaragua:

Nicaragua Travel Guide

Nicaragua Official Tourism Site

Nicaragua CIA World Factbook