Isle of Man is a beautiful place to live, with stunning scenery and plenty of opportunities to enjoy the great outdoors. It sits in the Irish sea between Ireland and the UK. This tiny island is a self-governing British Crown Dependency with its own legal system, but its residents are British Citizens.
If you are considering moving to the Isle of Man, the various costs listed below will help you make an informed decision on what costs are involved when moving and living in this tax haven.
Quick Isle of Man Facts:
- Population: 90,499 (2022 estimate)
- Official Language:The language spoken In Isle of Man is mainly English, with a small percentage of the population speaking Manx; a Celtic language derived from the Goidelic subdivision.
- GDP Per Capita:£80109.92
- Longest running parliament: The Isle of Man has the longest running parliament in the world – well over 1,000 years.
- Currency: Pound Sterling (£) As of September 2022, £1 = US$1.08, £1 = CAD$1.48, £1= AUD1.68, £1 = € 1.14
1. Moving and Shipping Costs to Isle of Man
Here are Container Shipping Rates To the Isle of Man from various other countries around the world.
2. Isle of Man Housing Costs
Many people from the UK mainland are looking to move to the Isle of Man. It’s stunning landscape, great beaches and relatively low house prices are encouraging the move. Its popularity began at the beginning of the COVID epidemic when people were searching for secluded places to live away from the disease.
If you are considering moving to the Isle of Man the various costs listed below will help you make an informed decision on what costs are involved when moving and living in this sparsely populated island.
Monthly Rental Prices in Isle of Man
- 1 bedroom apartment in City Centre: £585 – £1,000
- 1 bedroom apartment outside the City Centre:£500 – £850
- 3 bedroom apartment in City Centre: £1,000 – £1,750
- 3 bedroom apartment outside the City Centre: £850 – £1,400
- Price per square metre to buy in City Centre: £1,550 – £1,800
- Price per square metre (10.7 square feet) to buy outside City: £1,200 – £2,100
Isle of Man Housing Cost Comparison
This is how rents in Isle of Man compare with other cities around the globe.
London is 52.17% more expensive
New York is 59.54% more expensive
Los Angeles is 185.57% more expensive
Toronto is 73.23% more expensive
Sydney is76.87% more expensive
Paris is 51.20% more expensive
Dubai is 70.96% more expensive
How to Save on Housing Costs
- Different areas, different prices – When considering a move to Isle of Man, it’s important to compare the cost of living in different areas. The island is divided into four main districts, each with its own unique character and amenities. Douglas, the capital, is the most expensive district, while the rural districts of Castletown, Laxey and Ramsey are significantly cheaper.
- Share an apartment or house. Have a look at the following sites to find your perfect room or flat mate: Spareroom, Facebook, Mitula and Long Term Lettings.
3. Isle of Man Food, Grocery and Restaurant Costs
The cost of food and groceries is generally high on the Isle of Man, especially when compared to the UK. Restaurants prices are also higher than average, but there are some great places to eat out if you know where to look.
- Inexpensive Restaurant: £7 – £35
- Takeout Coffee: £1.40 – £4.20
- Bottle of Coke: £1.20 – £1.40
- 1L of milk: £0.55– £1.10
- Loaf of Bread: £0.80 – £1.69
- 12 Eggs: £0.04 – £2.75
- 1kg Chicken: £5.00 – £7.00
- 1kg Beef: £5.15 – £8.00
- 1kg Apples: £0.70– £3.65
- 1kg White Rice: £1.00 – £1.50
This is how restaurants and food prices compare with other major cities/countries in the world.
- London restaurants are 3.50% more expensive and groceries are 3.49% higher than Isle of Man.
- New York restaurants are 45.27% more expensive and groceries are 117.09% more expensive than Isle of Man.
- Los Angeles restaurants are 27.61% more expensive and groceries are 61.64% more expensive than Isle of Man
- Toronto restaurants are 9.54% more expensive and groceries are 40.40% more expensive than Isle of Man
- Sydney restaurants are 25.5% more expensive and groceries are 49.01% more expensive than Isle of Man
- Paris restaurants are 5.23% cheaper and groceries are 41.12% more expensive than Isle of Man.
- Dubai restaurants are 7.16 more expensive and groceries are 2.26% more expensive than Isle of Man.
Bonus Tips for Cheaper Food, Restaurants and Groceries
- Know your supermarkets: The Isle of Man has the same range of supermarkets as the UK. It also has a few independently owned grocery stores. There are good farmers’ markets, especially in Douglas, where you can buy fresh produce and homemade goodies. Health food shops sell a good variety of health and organic foods, some also sell home grown organic produce. Popular supermarkets in the Isle of Man are: –Tesco, Shoprite, Robinsons, Marks and Spencer and Spar.
- Find Cheap Eats:There’s a good range of restaurants in the Isle of Man so if you hunt around you will find some restaurants that offer excellent food at reasonable prices. Have a look at the following sites for suggestions – Trip Advisor, Wanderlog, Our Taste for Life and Visit Isle of Man.
4. Isle of Man Alcohol Costs
Drinking on the Isle of Man can be expensive, as alcohol prices are significantly higher than in the UK. Note that drinking in public places is not allowed. Supermarkets are often much cheaper than bars, so you can stock up on your favourite drinks to enjoy at home.
- Pint (0.5L) domestic beer at a restaurant/pub: £2.00 – £4.60
- Bottle of imported beer at a restaurant/pub: £2.50 – £4.80
- Pint (0.5L) domestic beer at a supermarket: £0.80 – £4.55
- Bottle of imported beer at a supermarket: £1.00 – £3.00
- Mid-range bottle of wine at a supermarket: £4.25 – £12.00
Drinking for less in the Isle of Man
- Keep an eye on the local papers and flyers for cheap drinks, either in supermarkets or in bars, clubs and restaurants.
- Many pubs and restaurants have specials after work. Happy hours are usually between 4pm and 6pm in local pubs. Have a look at these links to find suggestions for enjoying cheaper drinks in the Isle of Man: – Trip Advisor, World Travel Guide, Visit the Isle of Man, Visit IOM and Yelp.
5. Isle of Man Transportation Fares
The Isle of Man has a reasonable bus service throughout the island. There are also three heritage railway lines dating from the late nineteenth century which will take you through the countryside during the summer months. Note, these are purely for tourists and trainspotters, so if you want to get somewhere quickly take a bus, taxi or drive.
Here are some example ticket costs.
- One way ticket (Adult) – £1.10 – £2.70
- One day return – £3.20 – £8.10
- Monthly season ticket, unlimited – £24 – £80
How to save money on public transport
- One of the best ways to see the island is to walk or cycle, and it’s also a great way to save money.
- Get a bus pass. If you plan on using the buses regularly, it’s worth getting a bus pass.
- Cycling is a great way to get around the island.
- Share a ride. If you know someone who is going to the same place as you, why not share a taxi or car journey? It’s cheaper and more environmentally friendly.
6. Cost of Internet in Isle of Man
Broadband on the Isle of Man is expensive, with the average price of a package coming in at £70 per month for 60Mbps (unlimited data, cable/fiber). The most popular ISPs on the island include:
- Manx Telecom – £57.60 per month for 29Mbps
- Sure – 100 Mbps Fibre Broadband for £141 the first 6 months, then £282 for the next 6 months.
7. Cost of Clothing, Personal Items, Gym and Leisure
The Isle of Man has a temperate climate, with mild weather year-round. The average temperature is 17C (63F). The island, like the UK has four distinct seasons. The summers on the Isle of Man can be chilly and windy, while the winters are long, extremely cold, wet and windy. The weather is partly cloudy all year round. The temperature varies from 4C (39°) to 17C (64°F) throughout the year and rarely drops below freezing or rise above 20C (70F). The wettest months in the Isle of Man are from November to January. The annual rainfall is between 850mm and 1000mm.
Here are some clothing prices, together with other useful prices.
- Pair of Jeans: £25 – £70
- Summer Dress: £20 – £40
- Running Shoes (Trainers): £25 – £50
- Business Shoes: £25 – £110
- Short Doctor’s visit (15 mins): £110
- Deodorant: £1.5 – £2.50
- Shampoo: £2.00 – £5.50
- Toilet Paper (4 rolls): £1.05 – £1.95
- Gym membership: £19.90 – £37.99
- Movie (cinema) ticket: £6.50 – £10.00
8. Cost of Owning a Car and Driving a Car in Isle of Man
Owning a car is not essential in Isle of Man, but if you do want to bring your own vehicle there are a few things you need to know. All cars must be registered in the Isle of Man. You will obviously also need insurance and a valid MOT certificate if your car is over three years old.
If you’re not a resident of the Isle of Man you can drive on your foreign licence or an International Driving Licence for up to 12 months. If you are a resident you will need to get a Manx licence. It depends where you are from as to whether you can exchange your licence or if you need to take a driving test.
Here are some other sample costs of owning and operating a car in Isle of Man:
- Volkswagen Golf:£19,000
- 1 litre (¼ gallon) of gas (petrol):£1.36
- Other fees (if any):The average cost of state and local taxes, license, title and registration fees is £687 per annum
Ways to save money driving in Isle of Man
- Avoid taxis and they are expensive. There’s no Uber on the Isle of Man.
- Bus fares are relatively cheap and you don’t have to pay for parking.
- Walk or cycle whenever you can: This is a great way to explore the island and get some exercise at the same time.
- Carpool: If you do need to drive, carpooling is a great way to save money on petrol. Liftshare and Carpool World are excellent sites for information on carpooling.
Need your car/vehicle moved to Isle of Man? Then read our guide to: Car Transport & Vehicle Shipping
9. Taxes in Isle of Man
The Isle of Man is a tax haven. The top rate of income tax is 20% and there’s no capital gains tax, stamp duty, inheritance tax or wealth tax. There is a tax cap which means that no one has to pay more than £125,000 per annum.
Sales Tax in Isle of Man is at 20% and is added to most goods and services.
If you own your home, you will be subject to property tax based on the area in which you live and the size of the property you live in. Learn more about property tax in Isle of Man. See PWC for detailed information.
10. Flight Costs from Isle of Man
If you do make the move to Isle of Man, here’s approximately how much it will cost to fly to other major world cities based on lowest, one-way fares from Kiwi.com as of 2022.
- London: £55
- New York: £259
- Los Angeles: £367
- Toronto: £302
- Vancouver: £292
- Dubai: £385
- Sydney: £690
- Melbourne: £762
- Cape Town: £322
- Hong Kong: £420
Other Isle of Man Relocation Tips
The costs and pricing above should give you a good idea of the cost of living in Isle of Man but perhaps the following extra tips will make your move go smoothly.
11. Relocating to Isle of Man Alone
Moving is always a stressful time but moving on your own can be exceptionally difficult. The relaxed atmosphere of the Isle of Man and the friendly people will help you ease into your new life. Here are a few tips about settling in the Isle of Man.
- Meetups:The Isle of Man has a few Meetup groups which will enable you to meet like souls and you can always start your own Meetup
- Attend local events: The Isle of Man is a small island, but it has lots going on and many of the activities are free. Have a look at the following sites for inspiration – Trip Advisor, Planetware, Hand Luggage Only and Visit Isle of Man.
12. Moving to Isle of Man with a Family
Isle of Man has a lot to attract families – beaches, boating, fishing, ancient monuments and museums, plus lovely countryside to cycle or walk in. If you are moving to Isle of Man with your family, there are a few things you need to consider before making the move. Here are some tips to help you make the most of your move:
- New parents (or parents to be):Check out Netmums, Facebook and The Childrens Centre for advice, courses and ways to meet other parents or parents to be.
- Live in a family friendly area:The Isle of Man is a very small island and everywhere is family friendly. Have a look at the following to see what’s on offer – Relocate, Locate and Visit IOM.
- Find things to do with the kids:The Isle of Man has a lot to interest children. Have a look at the following website for inspiration – Visit IOM, Trip Advisor, Day Out with the Kids, Netmums and Kids on the Rock.
13. Moving to Isle of Man for Work
Moving to a new country for work is one of the most common reasons people choose to move. While it is possible to move without a job, it makes sense to ensure there are jobs in your field before you make the move.
The Isle of Man has jobs available in many sectors including education, construction, engineering and manufacturing, hospitality, compliance, banking and accountancy, healthcare and tech.
Here are a few things to consider when moving for work:
- Salary:Salaries in the Isle of man are marginally higher than the UK. The costs we outlined above should give you a rough idea, how much more you’ll want to be making to make the move worthwhile. You can also check salary ranges on sites such as Glassdoor and IoM Government.
- How to find work: If you want to have a job lined up before you move to the Isle of Man, but aren’t sure where to begin, the following sites are good places to start: IoM Government, Indeed, Locate, Total Jobs and Job Centre . You may also want to Google recruiters in your industry, as they can often help land you some initial interviews as well.
14. Moving to Isle of Man from Australia
If you are thinking of moving from Australia to Isle of Man, here are a few things to consider.
- Size comparison:The Isle of Man is only 33 miles long and 13.5 miles wide and covers an areas of 572 sq kms, compared with Australia’s 7,741,220 sq kms. The Isle of Man’s population is a mere 90,499 compared to Australia’s 25.4 million.
- Join expat groups:All Events, Internations and Meetup offer ways of meeting up with any other Australians that may have moved to the Isle of Man.
15. Moving to Isle of Man from Canada
If you’re considering making the move from Canada here are a few things to consider.
- Size:The Isle of Man is just under 32 miles long and just over 14 miles wide. This makes it slightly smaller than the Canadian province of Prince Edward Island. Canada’s population is 17,456 times larger than that of the Isle of Man.
- Expat groups:Meeting up with fellow Canadians helps the moving process. Link up through sites such as Internations and Meetup.
16. Moving to Isle of Man from the United Kingdom
The proximity and way of life in Isle of Man attracts people from the UK. In fact, there are many working in the country, especially in hospitality, IT, compliance, accounting and banking. If you’re considering joining them, here are a few bonus tips:
- Size: The Isle of Man would fit into the UK 426 times. The UK has over 65 million more inhabitants than the Isle of Man.
- Expat groups:If you want to get together with others from the UK who are enjoying the weather, then go to Internations, and Meetup.
Hopefully, the tips and costs above are helpful. If want to get started pricing out how much it will cost you to move to Isle of Man you can start by comparing moving quotes here.