Last update: Oct 2026

Cost of Living Comparison Between Akureyri and Medellin

For one person, living is cheaper in Medellin: $1,614 a month against $3,077 in Akureyri, rent and utilities included – about $17,600 less a year. Rent and utilities account for most of the difference.

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Cost of Living Index in Medellin
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Medellin Living Index

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Akureyri

🇮🇸 Iceland

$3,077

/mo nomad

Medellin

🇨🇴 Colombia

$1,614

/mo nomad

Monthly Cost of Living

How much you'll spend in Akureyri and in Medellin

Real prices from locals and on-the-ground checks – rent, groceries, transit and the daily extras. Here's what a month in Akureyri and in Medellin actually costs, broken down by who's living it.

A single person spends $3,077 per month in Akureyri vs $1,614 in Medellin, rent included.

Akureyri $3,077
Medellin $1,614

A couple spends around $4,153 per month in Akureyri vs $2,402 in Medellin, rent included.

Akureyri $4,153
Medellin $2,402

A family of three spends $5,229 per month in Akureyri vs $3,190 in Medellin, rent included.

Akureyri $5,229
Medellin $3,190

Akureyri costs about 91% more than Medellin, and outside of rent the biggest gap is in eating out.

Both Akureyri and Medellin sit above the global median – Akureyri by 128%, Medellin by 20%.

Meal at Budget Restaurant

$24.88 ISK 3,018

$7.93 COP 25.2K

213.75%

Three-Course Dinner for Two, Mid-Range

$129 ISK 15.7K

$46.13 COP 146.3K

180.27%

Fast Food Meal (McDonalds, etc)

$22.70 ISK 2,753

$9.50 COP 30.1K

138.95%

Cappuccino

$5.07 ISK 615

$3.11 COP 9,866

63.02%

Coke/Pepsi/Fanta/Sprite (0.33 liter bottle)

$3.35 ISK 407

$1.83 COP 5,800

83.06%

Water (0.33 liter bottle)

$3.03 ISK 368

$1.38 COP 4,360

119.57%

Local Beer (0.5 liter draught)

$10.86 ISK 1,317

$3.05 COP 9,672

256.07%

Imported Beer (0.33 liter bottle)

$9.32 ISK 1,131

$5.50 COP 17.4K

69.45%

Milk (1 liter)

$2.85 ISK 346

$1.45 COP 4,600

96.55%

White Bread (500g)

$2.31 ISK 281

$2.36 COP 7,496

-2.12%

Rice (white) (1kg)

$3.16 ISK 384

$1.68 COP 5,328

88.10%

Eggs

$7.98 ISK 968

$2.86 COP 9,077

179.02%

Local Cheese (1kg)

$15.35 ISK 1,862

$10.19 COP 32.3K

50.64%

Chicken Fillets (1kg)

$24.80 ISK 3,008

$9.53 COP 30.2K

160.23%

Beef Round Steak (1kg)

$14.04 COP 44.5K

Apples (1kg)

$4.07 COP 12.9K

Banana (1kg)

$2.85 ISK 346

$1.50 COP 4,742

90.00%

Oranges (1kg)

$3.51 ISK 426

$2.17 COP 6,891

61.75%

Tomato (1kg)

$6.15 ISK 746

$2.31 COP 7,310

166.23%

Potato (1kg)

$1.93 COP 6,113

Onion (1kg)

$1.64 COP 5,196

Lettuce (1 head)

$1.13 COP 3,571

Water (1.5 liter bottle)

$1.25 COP 3,954

Cigarettes 20 Pack (Marlboro, Camel)

$13.88 ISK 1,684

$3.99 COP 12.6K

247.87%

Wine (Bottle)

$13.35 COP 42.3K

Local Beer (0.5 liter bottle)

$1.70 COP 5,384

Imported Beer (0.33 liter bottle)

$2.37 COP 7,525

One-way Ticket (Public Transport)

$1.21 COP 3,827

Public Transport Monthly Pass (Regular Price)

$76.5 COP 242.5K

Taxi Start (Normal Tariff)

$1.32 COP 4,179

Taxi (Normal Tariff) (1km)

$2.14 COP 6,774

Taxi 1hour Waiting (Normal Tariff)

$8.47 COP 26.8K

Gasoline (1 liter)

$2.64 ISK 320

$1.30 COP 4,114

103.08%

Midsize Hatchback 1.4l (Volkswagen Golf, Toyota Prius, Honda Civic, etc)

$41.7K ISK 5.1M

$28.0K COP 88.7M

48.82%

Compact Sedan 1.6l (Toyota Corolla, Mazda3, Kia K4, Hyundai Elantra, etc)

$66.3K ISK 8.0M

$35.4K COP 112.3M

87.17%

Utilities for 2 People in 2-bedroom Apartment (Heating, Electricity, Gas, Water, Garbage) (85m2)

$124 ISK 15.0K

$172 COP 545.6K

-27.92%

SIM Card Monthly Plan (Calls and 10GB+ Data)

$25.96 ISK 3,149

$13.37 COP 42.4K

94.17%

Internet (50+ Mbps, Unlimited Data)

$163 ISK 19.8K

$28.73 COP 91.1K

467.25%

Gym Membership (Monthly)

$84.4 ISK 10.2K

$45.24 COP 143.5K

86.49%

Tennis Court (1 Hour on Weekend)

$17.04 COP 54.0K

Cinema Ticket

$15.29 ISK 1,855

$6.28 COP 19.9K

143.47%

Preschool or Kindergarten, Full Day, Private, 1 Child (Monthly)

$365 ISK 44.3K

$770 COP 2.4M

-52.59%

International Primary School, 1 Child (Yearly)

$9,011 COP 28.6M

Jeans (Levis 501 Or Similar)

$83.1 ISK 10.1K

$86.4 COP 274.0K

-3.88%

Summer Dress (H&M, Zara, etc)

$57.1 COP 181.1K

Sport Shoes (Adidas, Nike)

$122 ISK 14.8K

$137 COP 432.9K

-10.53%

Men's Leather Business Shoes

$97.9 COP 310.4K

1-bedroom Apartment, City Center (Monthly)

$1,829 ISK 221.8K

$1,055 COP 3.3M

73.32%

1-bedroom Apartment, Outside City Center (Monthly)

$1,802 ISK 218.6K

$616 COP 2.0M

192.65%

3-bedroom Apartment, City Center (Monthly)

$1,892 COP 6.0M

3-bedroom Apartment, Outside City Center (Monthly)

$2,163 ISK 262.4K

$1,023 COP 3.2M

111.47%

Buy Apartment in City Center (m2)

$6,455 ISK 783.0K

$4,059 COP 12.9M

59.04%

Buy Apartment Outside City Center (m2)

$6,684 ISK 810.7K

$1,678 COP 5.3M

298.24%

Average Monthly Net Salary (After Tax)

$652 COP 2.1M

20-Year Fixed Mortgage Interest Rate (Annual %)

9.4

10.94

-14.08%

CityCost data is based on AI and user input – minor inaccuracies may occur.

Last update for Akureyri: October 11, 2026

Last update for Medellin: October 12, 2026

Monthly budget structure

Share of the monthly basket for one person, rent included.

Accommodation & Living

Akureyri

–

Medellin

$616 38.2%

Groceries & Markets

Akureyri

–

Medellin

$295 18.3%

Monthly Utilities & Internet

Akureyri

–

Medellin

$214 13.3%

Clothing & Footwear

Akureyri

–

Medellin

$170 10.5%

Eating Out

Akureyri

–

Medellin

$168 10.4%

Getting Around

Akureyri

–

Medellin

$93 5.8%

Sport & Entertainment

Akureyri

–

Medellin

$58 3.6%

Cost Breakdown

A central one-bedroom costs $1,829 in Akureyri versus $1,055 in Medellin. Rent is usually the largest line item in a monthly budget, so the gap here sets the tone for the overall comparison.

A mid-range dinner for two costs $129 in Akureyri versus $46.00 in Medellin. Monthly groceries follow the same trend: $328 vs $295 – making Medellin the more affordable choice for daily food spending.

Good to know

🇮🇸 Akureyri

🇨🇴 Medellin

🕒 Local time

00:16 12:16 AM

19:16 7:16 PM

5 h behind Akureyri

🌤 Weather

👥 Population

19,219

2,486,723

💱 Currency

Icelandic Króna ISK kr

Colombian Peso COP $

📈 Exchange rate

1,000 ISK = 8.24 USD

1,000 ISK = 7.33 EUR

10,000 COP = 3.15 USD

10,000 COP = 2.81 EUR

Exchange rates and currency converter

COP, USD, EUR to ISK – Icelandic Króna Converter

🇺🇸 United States Dollar ($)

🇮🇸 Icelandic Króna (kr)

Icelandic Króna exchange rates as of October 19, 2026: 1 USD = 121 ISK (1,000 ISK = 8.24 USD). 1 EUR = 136 ISK (1,000 ISK = 7.33 EUR).

Colombian Peso exchange rates as of October 19, 2026: 1 USD = 3,171 COP (10,000 COP = 3.15 USD). 1 EUR = 3,565 COP (10,000 COP = 2.81 EUR).

USD to ISK in detail →

On the map

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Between locations

Akureyri Medellin 7,940 km ≈ 10 h nonstop flight

From you

Akureyri
Medellin

Distances are measured in a straight line. Your location is detected approximately.

City Median Internet Speeds Comparison (Updated April 2026)

The chart highlights the Precision Threshold for mobile and fixed broadband internet speeds, updated quarterly.

Digital Nomad Cost of Living Index

Akureyri vs Medellin: Cost of Living - Frequently Asked Questions

Yes – Akureyri is pricier by about 91%, and outside of rent the gap shows up most in eating out.

For a comfortable life, plan on about $4,616 per month in Akureyri and $2,421 in Medellin. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Rent is clearly cheaper in Medellin, especially for central apartments. Housing is actually the single biggest factor behind the overall cost gap between these two cities.

A mid-range dinner for two costs $129 in Akureyri and $46.00 in Medellin. That's a good indicator of the overall restaurant and café pricing gap between the two cities.

Groceries cost about 11% more in Akureyri, though it depends on what you buy. Local produce may be comparable; imported and premium items show the biggest price gap.

A $2,500 monthly budget goes further in Medellin, where all-in costs run around $1,614, than in Akureyri at $3,077. In Medellin it covers expenses comfortably, while in Akureyri it requires careful planning or may not stretch far enough.

Families tend to lean toward Medellin – lower housing and cheaper childcare make a real difference, especially on a single income or when paying for private education.

Both have safer and rougher neighborhoods, but overall safety is comparable to other large cities. Neighborhood choice matters more than the city-level comparison – central, well-trafficked areas feel secure in both.

If budget matters most, go with Medellin. If higher salaries, better infrastructure, or specific career opportunities are the priority, Akureyri makes more sense. Both are solid long-term options with distinct trade-offs.