You can live in Cape Verde on a modest budget: expect $276–$419/month for a one‑bedroom, about $120/month for utilities, and groceries like milk $1.41/L, rice $1.70/kg, with local transport $0.71 per ride or $29.80 monthly. Eating out is cheap (basic meal ~$5), internet ~ $47/month, and overall living costs run 37–51% lower than U.S. averages, though average wages are ~ $211/month — keep going to see how to manage banking, transfers, and real cash strategies.

Monthly Expenses Breakdown: Rent, Food and Transport

If you’re budgeting for life in Cape Verde, start with rent: a one‑bedroom in the city center averages about $419/month, while similar units outside the center drop to roughly $276.

Next, factor utilities: expect about $120/month for electricity, heating, cooling, water, and garbage for a single occupant.

Plan on roughly $120/month for utilities — electricity, heating/cooling, water, and garbage for one person.

Food costs in Cape Verde are reasonable—an inexpensive restaurant meal runs ~$5, a mid‑range dinner for two about $39.70, a liter of milk ~$1.41, and a dozen eggs ~$2.41—so groceries plus occasional dining typically stay lean if you shop locally.

For transport, one‑way fares are roughly $0.71 and a monthly pass about $29.80, making commuting inexpensive compared with many countries.

Combine rent, utilities, groceries, dining and transit to model monthly cash flow. Use these line‑item figures to estimate your baseline monthly expenses and compare scenarios for living in Cape Verde to determine realistic monthly budgets and savings targets.

Housing Costs in Cities and Rural Areas

1 clear way to compare housing costs in Cape Verde is to split city-center and outskirts: a one-bedroom in the city center averages about $419/month versus $276 outside, while a three-bedroom city unit runs roughly $895, reflecting higher urban demand.

You’ll find Cost of Living advantages if you prioritize outskirts or rural areas where housing costs drop further, though listings are less frequent.

1. Rent spread: one-bed city $419, one-bed outside $276, three-bed city $895 — use these anchors for budgeting.
2. Rural variability: expect lower baseline rents but plan for limited supply and occasional higher search costs.
3. Utilities: budget about $120/month for electricity, heating/cooling, water, and garbage for a single occupant.
4. Comparative metric: overall rent in Cape Verde runs roughly 79.3% lower than U.S. averages — factor that into your housing vs. lifestyle trade-offs.

Be pragmatic: prioritize location, verify utilities inclusion, and use these figures to refine your housing cost plan.

Typical Salaries and How Far Your Money Goes

Because average take-home pay in Cape Verde is only about $211 per month, your income will cover roughly 0.2 months of typical living expenses, highlighting a large gap between wages and costs. You’ll need strict budgeting: living costs are 4.6× the average salary, so discretionary spending is minimal. Compared with the U.S., everyday living (excl. rent) is 37.6% cheaper and 51.4% cheaper including rent, but rent alone is 79.3% lower—one-bedroom city center rent averages $419, already double local monthly pay. Service jobs often pay near the mean, so relying on tips or multiple incomes is common. For planning, prioritize fixed costs and possible supplementary income streams.

Groceries, Utilities and Everyday Essentials

How much will basic groceries and utilities eat into your budget in Cape Verde? You can expect modest costs on staples: milk is about $1.41/L, a dozen eggs $2.41, a loaf of fresh bread $1.30, and 1 kg of rice $1.70. Utilities and connectivity add predictable monthly charges.

1. Groceries basics: stocking rice, bread, milk and eggs for a small household will stay affordable compared with many countries — plan by unit prices above.
2. Utilities: expect roughly $120/month per person for electricity and water; that’s the largest recurring home expense.
3. Internet: 50+ Mbps plans run about $47.30/month, so factor connectivity separately from core utilities.
4. Transport (everyday essential): one-way local fares are $0.71 and a monthly pass is $29.80 — useful when calculating overall monthly essentials.

Use these figures to build a realistic monthly baseline for groceries, utilities and other everyday essentials.

Eating Out, Entertainment and Leisure Expenses

You’ll find eating out in Cape Verde is generally budget-friendly: a cheap restaurant meal runs about $5 and a fast-food combo is roughly $7.20, while a three-course dinner for two at a mid-range place averages $43.60 — about 41.8% cheaper than in the U.S.

For leisure, expect low nightlife and fitness costs too, with a gym membership around $32.60/month and cinema tickets near $5.40.

Typical Restaurant Prices

Dining in Cape Verde is generally affordable, with a typical lunch around $6.62 and fast-food meals about $6.43, making quick meals easy on the wallet.

You’ll find typical restaurant prices that balance value and quality, and local beer is inexpensive for casual dining.

1. Mid-range dinner for two: $39.70 — good for occasional nights out.
2. Fast-food meal (McDonald’s-equivalent): $6.43 — convenient low-cost option.
3. Local beer (0.5 L): $2.74 — cheap beverage choice at cafes and bars.
4. Cappuccino: $1.54 and cinema ticket: $5.40 — affordable extras to pair with meals.

You’ll spend less than in many countries on dining and basic entertainment, keeping monthly costs manageable.

Leisure and Nightlife Costs

After enjoying affordable meals, you can expect leisure and nightlife to stay budget-friendly in Cape Verde.

Eating out remains cheap: local beer at about $2.8 (0.5L) is 53.8% less than U.S. prices, and a cappuccino at $1.6 is 68.7% cheaper. A three-course mid-range dinner for two runs roughly $43.6, a 41.8% savings versus the U.S. These costs keep casual nights out inexpensive.

For ongoing leisure, monthly fitness club fees average $32.6, about 30% below U.S. membership rates.

When planning entertainment budgets, use these benchmarks to compare options; note that special activities or imported events can raise costs since service is subject to availability and tourist pricing.

Managing Money: Banks, Wise and Currency Exchange

Set up a local bank account with one of the major Cape Verde banks to avoid high withdrawal fees and know the usual limits on cash access.

Use Wise for international transfers when possible — its rates and fees are typically better than traditional banks, and with the exchange at ~1 USD = 95.765 CVE you can calculate transfer costs precisely.

Keep a CVE cash reserve for markets and taxis, and monitor conversion tools to minimize losses from ATM and exchange fees.

Local Bank Account Setup

If you’re planning to live in Cape Verde, opening a local bank account usually means presenting ID, proof of address and an initial deposit (amounts vary by bank) and paying monthly maintenance fees that typically run $2–$10 depending on account type; many banks offer services in Portuguese and English, which simplifies the process for expats.

You’ll evaluate costs, language support and deposit requirements before committing. Current rate ~1 USD = 95.765 CVE matters for funding the account and budgeting.

1. Required documents: passport/ID, residency proof, tax ID — confirm with chosen bank.
2. Initial deposit: varies; budget at least a small USD/CVE equivalent.
3. Monthly fees: $2–$10; check for fee-free account tiers.
4. ATM/access: verify card acceptance and local branch availability for use of this service.

Using Wise for Transfers

Many expats and travelers choosing Wise save considerably on transfers to Cape Verde because Wise uses real exchange rates (about 1 USD = 95.765 CVE) and charges transparent, typically lower fees than traditional banks.

You can use Wise to transfer funds with clear, upfront costs and often cut fees by up to 50% versus conventional banks, which helps when budgeting monthly expenses or paying rent.

Hold multiple currencies in one account to avoid repeat conversion fees and move money when rates are favorable. Wise’s fee breakdown lets you calculate landed CVE precisely for each transfer.

Before you send, review Wise’s Terms of Use and fee estimator so you know exact costs and timing for receipts.

Managing CVE Cash Reserves

Because exchange rates and fees directly determine how long your CVE reserves will last, you should track the USD–CVE rate (currently about 1 USD = 95.765 CVE) and compare live quotes before converting or transferring funds.

You’ll optimize spending by minimizing conversion loss and transfer fees.

1. Use Wise for transfers: compare total cost (fee + mid-market deviation) to get best effective rate.
2. Open a local bank account for CVE deposits: it secures funds and may reduce inbound conversion, but factor in maintenance fees and KYC requirements.
3. Monitor real-time currency tools daily: set alerts for favorable USD–CVE moves to time conversions.
4. Align cash withdrawals with bank hours to avoid extra ATM or weekend service surcharges when managing CVE cash reserves.

Frequently Asked Questions

Is Cape Verde a Good Country to Live In?

Yes — you’ll find Cape Verde appealing if you prioritize lower costs and rich local culture; expat experiences vary, though modest average salaries and limited services mean you’ll need budgeting, adaptable expectations, and targeted income to live comfortably.

What Is the Average Monthly Income in Cape Verde?

Like a thin coin slipping out of your hand, the average monthly income in Cape Verde is about $211. You’ll weigh average salaries and income sources carefully, since that sum covers roughly 0.2 months of expenses.

Do They Speak English in Cape Verde?

You’ll find limited English proficiency in Cape Verde; urban and tourist areas offer more speakers, but language barriers persist. Expect basic conversational English in hotels and restaurants; learning Portuguese or Kriolu reduces communication costs and friction.

How Many Americans Live in Cape Verde?

You’ll find about 1,500 American expats in Cape Verde; like a single lighthouse guiding sailors, their presence highlights engagement with Cape Verdean culture. You’ll see many in Praia and Sal, focused on work and lower living costs.

Conclusion

Living in Cape Verde can be affordable if you plan carefully: rent and groceries are the biggest monthly costs, transport and utilities add up, and salaries vary widely by island. You’ll stretch your budget further in rural areas, but expect higher prices for imports and dining out in cities. Use banks, Wise, and smart currency exchange to save on transfers. Remember, “a penny saved is a penny earned”—small cost choices add up to big savings over time.