Caracas sits at 900 meters above sea level in a tropical climate, offering year-round warmth. The city's popular expat neighborhoods include Chacao and Las Mercedes, where many newcomers settle for their relative convenience and amenities.
Living costs in Caracas are modest compared to New York, with a cost of living index of 48 out of 100. A one-bedroom apartment in the city center rents for $610 per month, while outside the center it drops to $425. A three-bedroom in the center costs $1,107 per month, and outside the center it is $875. A single adult's monthly expenses excluding rent average $813, while a family of four spends $3,118 excluding rent. Budget-tier living including rent totals $582 per month, mid-range comes to $938, and comfortable living runs $1,257. Local wages are much lower, with an average monthly net salary of $304. Utilities run $22 per month, internet costs $38, a mobile plan is $12, a monthly public transport pass is $30, and a gym membership is $67. An inexpensive restaurant meal costs $11 per person, a three-course meal for two at a mid-range restaurant is $68, and a cappuccino is $4.
Safety is a significant concern, with a safety index of 35 out of 100 and a crime index of 65. Healthcare quality is rated as poor, and English proficiency is limited, which can pose challenges for newcomers.
For those looking to stay long-term, the Rentista Visa requires a minimum monthly income of $1,200. The nearest airport is CCS, 14 kilometers from the city. Caracas suits budget-conscious expats and those focused on financial independence, with a FIRE score of 66 out of 100. It is less suited for retirees, who gave it a score of 44, or digital nomads, who scored it 50. The overall expat score is 56 out of 100.