St. Thomas - Caribbean Life Properties (2024)

FAQs

How much money do I need to live in the Virgin Islands? ›

Summary of cost of living in Us Virgin Islands: A family of four estimated monthly costs are 6,355.7$ without rent. A single person estimated monthly costs are 1,776.0$ without rent. Cost of living in Us Virgin Islands is, on average, 47.4% higher than in United States.

Average salary in the Virgin Islands by city and county

Croix, St. Thomas, and St. John, as well as several smaller islands. Data is not provided in the same way as for other traditional states but average household income for St John Island is $40,644, St Thomas is $38,232 and St Croix is $36,042.

Yes, US citizens can buy property in the US Virgin Islands and move to USVI without a visa or work permit, just like in any other US territory or state.

The costs of building a house start at around $250 per square foot, with the amount varying considerably depending on the materials used for building and finishing.

St. Croix is generally considered the most affordable of the USVI islands to live on, with a lower cost of living and lower property prices compared to St. Thomas and St. John.

USVI Income Taxes: Residents of the USVI, instead of filing returns and paying taxes to the IRS, file returns and pay income taxes directly to the USVI Bureau of Internal Revenue. The taxes are at the same rates and use the same forms and rules as for federal income taxes.

In St. Thomas, 34% of children lived in families in poverty (up from 29% in 2013). In St. John, 14% of children lived in families in poverty (a decrease of 10% percentage points from 2013) (2016 Kids Count).

Minimum Wage Rate in the U.S. Virgin Islands is $10.50 per hour. Time and a half of the regular hourly rate must be paid for all hours worked over 8 hours each day and for over 40 hours in any work week including any hours worked on the 6th and 7th consecutive day of work.

When you are moving to the US Virgin Islands from the USA, if you are an American citizen you will not require a visa. However, non-US citizens willing to stay in the Virgin Islands for a long term need to apply for suitable visas. There are H1B, H2B and student visas available to move to the islands and live there.

All outstanding taxes are payable to the City of St. Thomas. If you purchased a new property and are building a home, refer to the Statement of Adjustments prepared by your lawyer. This statement will indicate the amount of taxes you are responsible for at the time of closing for the land only.

Is St. Thomas a good place to retire? ›

America's “Caribbean Paradise”, the US Virgin Islands of St Thomas, St John and St Croix, offer some of the best retirement options in the Caribbean. If luxury living and yachting interest you, take a look at St Thomas and its high-end shopping and harbors.

American citizens do not need to obtain any official documents to live or work in St. Thomas. Americans can freely travel and work in St. Thomas, part of the U.S. Virgin Islands.

St. John is slightly more expensive than St. Thomas. Both islands tend to be more expensive than most small or mid-sized U.S. cities, though.

The best way to get around any U.S. Virgin Island is in a car – either your own rental or a taxi.

USVI Transfer Tax

2% for property worth up to $350,000. 5% for property worth $350,000 to 1 million. 3% for property worth $1 million to $5 million. 5% for property worth over $5 million.

Market Summary

The median rent for all bedrooms and all property types in Virgin Islands is $2,300.

Any of the Virgin Islands will prove to have a slower pace of life, easy access to the tropical outdoors, plentiful waterfront activities, and year-round beautiful weather. Explore our USVI real estate guides to find the right community for your next home.

If you're a budget traveler, you can expect to spend around $50 to $100 per day in the U.S. Virgin Islands. This includes accommodation, food, transportation, and some activities. On the other hand, if you're a mid-range traveler, you can expect to spend around $150 to $250 per day.