Thursday 23 September 2021

What Does It Cost to Retire in Costa Rica?

Paying the bills


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Paying the bills


QCOSTARICA LIVING from – This is an article that was recently published by Investopedia. I have added some comments in parenthesis which I think puts this article in proper perspective.

From cloud forests at nearly 5,000 feet to white sand beaches at sea level, Costa Rica offers some of the most incredible natural environments the world has to offer. It also delivers modern cities full of cultural attractions and entertainment venues, reliable infrastructure and access to high-quality health care. It’s no wonder, then, that the country has become so popular among retirees looking for a high quality of life at a low cost.

For most retirees, the cost of living in Costa Rica is much lower than it is in the United States. If you are a single, budget-conscious retiree, you can live very comfortably in Costa Rica for about $1,300 to $1,600 per month. A couple can cut per-person costs even further by sharing housing expenses.

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(What you spend really depends on your lifestyle. Some people live for the amount listed above while others live for more. One thing is certain, once you get settled and know all of the ins and outs and do’s and don’ts, you will learn how to live more affordably. Please see my comments in bold face type.)


There are three types of official Costa Rica residency options available to retirees, each with its own financial requirements. The Pensionado Program is designed specifically for retirees. It requires a regular monthly income of at least $1,000 from a pension or retirement fund. You must automatically transfer the qualifying funds into the Costa Rican financial system each month and exchange it into local currency, which you are then free to withdraw and spend.

If you don’t have enough fixed retirement income, you can opt for the Rentista Program. This program requires you to provide either a bank guarantee showing income of $2,500 per month for two years or to show a current cash balance of at least $60,000. You must transfer either the full sum of $60,000 or $2,500 per month into a Costa Rican bank and exchange it into local currency. A third option, the Inversionista Program, requires an immediate investment of at least $200,000 in an approved Costa Rican business or property.

Program application fees amount to $250. Other costs include document translation, authentication and notarizing fees, as well as any fees associated with obtaining required official documents from your home country. Costa Rican consulates charge $40 per document for authentication services alone; document fees can accumulate well into the hundreds of dollars for each family member listed on your application.

You must renew your program status every two years. The renewal fee is $100 plus associated document fees. You must submit updated proof of your income at the time of renewal. If you maintain your status in any of these programs for three consecutive years, you may choose to apply for permanent resident status.

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Moving Costs

Travel to Costa Rica is much cheaper and faster than travel to other popular retirement destinations in South America or Asia. A quick survey of prices for round-trip flights in October 2015 between New York City and San Jose shows average airfares around $400 or less. If you plan to return to the U.S. for regular visits, a move to Costa Rica is a lot easier on your bank account than a move to a far-flung country, such as Thailand or the Philippines. (This is a very good point and will help you to save money.)

Shipping household and personal cargo to Costa Rica is also cheaper than shipments to more remote destinations. New residents may import many kinds of personal items and some household items without paying import duties if the items are not new. You must pay duties on furniture, household equipment and many other common possessions; consider renting furnished housing or purchasing these items locally. For shipping rates contact Charles Zeller at 1-866-245-6923 or E-mail:

Cost of Living in Costa Rica

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In International Living magazine’s 2015 study of the world’s best retirement destinations, Costa Rica tied for 10th place in the cost of living component, ranking behind Ecuador, Panama, Belize, Thailand and Vietnam (Their ranking is slanted towards places where IL has vested interests). While Costa Rica rose into fifth place overall due to its excellent performance in other scoring categories, it is costlier than other popular destinations. However, that is not to say that Costa Rica is expensive.

Although housing costs and living expenses can vary, most retirees in Costa Rica can achieve a comfortable standard of living at a much lower cost than they could in the U.S. For example, according to international consumer price data gathered by, the average person living in Phoenix, Arizona, faces an overall cost of living more than 33% higher than the average person living in a Costa Rican city. In another example, the cost of living in San Diego, California, is more than 73% higher than that in a Costa Rican city. (Good points!)

Housing costs in Costa Rica are highly variable depending on city, location, size and other factors. However, Numbeo provides some insight into average rental costs for apartments in the country. A nice three-bedroom apartment near a city center averages just over $850 per month, while a one-bedroom apartment costs less than $450. Average prices outside the city center are roughly 20% lower. Many other housing options exist, including cheap beach bungalows, furnished condos and homes with private lawns and gardens. You can also choose to buy a home. Utilities including water, electricity and garbage collection average a little over $70 per month.

Unlimited Internet service averages about $50 across the country.
Fresh fruits, vegetables and staple foods common to the American diet, including chicken, fish, eggs, bread and rice, are widely available and relatively cheap in Costa Rica (True!). Foreign food items are available in some areas, but they are typically quite pricey. Cooking meals at home always helps to keep food costs down, but dining out is not terribly expensive, if you avoid international chains and other places that tourists frequent. A single retiree who sticks to home-cooked meals should be able to eat very well on a grocery budget under $200 per month (True!). Frugal shoppers can lower costs further, while those who enjoy dining out every day can expect to spend quite a bit more on food.

Other common expenses include personal and household items, clothing, transportation and medical care. Costs in all of these categories tend to be substantially lower in Costa Rica than in the U.S. as long as you shop for local goods and services.

Remember, “You get what you pay for and paradise is not cheap.” Sure there are places to retire that are more affordable than Costa Rica, but the quality of life and intangibles cannot compare.


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Paying the bills
"Rico" is the crazy mind behind the Q media websites, a series of online magazines where everything is Q! In these times of new normal, stay at home. Stay safe. Stay healthy.

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