{"id":9567,"date":"2024-03-26T02:47:53","date_gmt":"2024-03-26T02:47:53","guid":{"rendered":"https:\/\/moneytology.com\/cost-of-living-guam\/"},"modified":"2024-03-26T02:47:55","modified_gmt":"2024-03-26T02:47:55","slug":"cost-of-living-guam","status":"publish","type":"post","link":"https:\/\/moneytology.com\/cost-of-living-guam\/","title":{"rendered":"Cost of Living Guam: Best Cheapest Places | Ultimate Guide 2024"},"content":{"rendered":"

Are you considering a move to the beautiful island of Guam? While Guam offers a picturesque island life, it’s important to be aware of the cost of living on the island. In this comprehensive guide, I will provide you with valuable insights into the cost of living in Guam<\/b> in 2023 and highlight some of the best and most affordable places to live.<\/p>\n

Guam is known for its stunning beaches, vibrant culture, and friendly people. However, it’s crucial to understand the financial aspects of living on the island. From housing and utilities to food and entertainment expenses, we’ll cover all the essential factors that contribute to the cost of living in Guam<\/b>.<\/p>\n

Key Takeaways:<\/h3>\n
    \n
  • Guam has a higher cost of living compared to some other locations.<\/li>\n
  • Housing costs in Guam vary depending on location and available amenities.<\/li>\n
  • Utility costs, particularly electricity rates, can be higher than the U.S. average.<\/li>\n
  • The cost of groceries and dining out in Guam<\/b> can be higher due to imported food.<\/li>\n
  • There are plenty of affordable and free recreational activities to enjoy on the island.<\/li>\n<\/ul>\n

    Overall Cost of Living in Guam<\/h2>\n

    To understand the cost of living in Guam<\/b>, it is helpful to look at overall indicators. The U.S. military’s cost-of-living allowance (COLA) provides a standard measurement for comparing the cost of living on Guam<\/b> to other locations. COLA data shows the differences in overall costs of living based on the buying power of servicemembers stationed in different areas. Comparing Guam’s COLA to other U.S. destinations and international cities can give us insights into the cost of living on the island.<\/p>\n

    When it comes to the cost of living on Guam<\/em>, the COLA serves as a valuable benchmark. It considers various factors such as housing, transportation, groceries, and healthcare. By analyzing this data, we can gain a better understanding of the average cost of living in Guam<\/b>.<\/p>\n

    I always emphasize the importance of considering the overall cost of living before making any financial decisions. The COLA provides a comprehensive perspective that takes into account different aspects of everyday expenses.<\/p><\/blockquote>\n

    For example, the Guam Cost of Living Index<\/b> is based on the COLA and reflects the relative cost of living on the island compared to the U.S. average. It considers factors such as housing, groceries, transportation, healthcare, and miscellaneous expenses. The Guam Cost of Living Index<\/b> acts as a useful tool for individuals and families who are considering relocation to the island or want to understand the financial implications of living in Guam<\/b>.<\/p>\n

    Comparing Guam’s COLA to Other U.S. Destinations<\/h3>\n

    When comparing Guam’s COLA to other U.S. destinations, we can see how the cost of living on the island stacks up. Keep in mind that the cost of living can vary significantly from one city to another. For example, cities like Los Angeles and New York City generally have higher costs of living compared to smaller towns or rural areas.<\/p>\n

      \n
    1. Los Angeles, California: The COLA for Los Angeles is 144.3, indicating that the cost of living on Guam<\/b> is relatively lower.<\/li>\n
    2. New York City, New York: The COLA for New York City is 193.9, highlighting the higher cost of living in the city compared to Guam.<\/li>\n
    3. Chicago, Illinois: The COLA for Chicago is 116.5, indicating that Guam’s cost of living is more affordable compared to the Windy City.<\/li>\n<\/ol>\n

      Comparing the COLA of Guam to other U.S. destinations allows us to understand how costs vary across different locations. It helps us see the relative affordability of living on Guam.<\/p><\/blockquote>\n

      The table above showcases the Guam Cost of Living Index<\/b> compared to other U.S. destinations. It provides a visual representation of the relative cost of living on Guam<\/b> and offers insights into the affordability of the island compared to popular U.S. cities.<\/p>\n

      Housing Costs in Guam<\/h2>\n

      Housing is a significant expense when it comes to the cost of living in Guam<\/b>. The cost of housing can vary depending on the location and available amenities. Whether you’re looking to rent or buy a home, it’s important to consider your budget and explore the options that best suit your needs.<\/p>\n

      Renting in Guam<\/h3>\n

      If you’re considering renting an apartment on Guam, you’ll find a range of options available. The cost of rent can vary depending on factors such as location, size, and amenities. On average, renting a 1 to 2-bedroom apartment on Guam can cost anywhere from $800 to $2,500 per month.<\/p>\n

      Buying a Home in Guam<\/h3>\n

      If you’re looking to settle down on the island and buy a home, Guam offers a variety of properties to choose from. The median value for homes on Guam is $277,750. It’s important to work with a local real estate agent who can provide valuable insights into the housing market and help you find a home that meets your needs and budget.<\/p>\n

      Affordable Places to Live in Guam<\/h3>\n

      Guam has several affordable places to live that offer a great quality of life. Whether you prefer a quiet suburban neighborhood or a bustling city area, there are options available to suit different preferences and budgets. Some affordable places to consider include:<\/p>\n

        \n
      • Tamuning<\/li>\n
      • Dededo<\/li>\n
      • Yigo<\/li>\n
      • Agana Heights<\/li>\n
      • Mangilao<\/li>\n<\/ul>\n

        These areas provide convenient access to amenities, schools, and employment opportunities, making them attractive options for those looking for an affordable place to live on Guam.<\/p>\n

        When it comes to housing costs in Guam, it’s important to do your research and consider your financial situation before making any decisions. Whether you choose to rent or buy a home, there is a range of options available to suit different budgets and preferences.<\/p>\n\n\n\n\n
        Property Type<\/th>\nAverage Cost<\/th>\n<\/tr>\n
        1 to 2-Bedroom Apartment Rent<\/td>\n$800 – $2,500 per month<\/td>\n<\/tr>\n
        Median Home Value<\/td>\n$277,750<\/td>\n<\/tr>\n<\/table>\n