Last update: Oct 2026

Cost of Living Comparison Between Asuncion and Reykjavik

For one person, living is cheaper in Asuncion: $1,049 a month against $4,037 in Reykjavik, rent and utilities included – about $35,900 less a year. Rent and utilities account for most of the difference.

51

Cost of Living Index in Asuncion
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Asuncion Living Index
193

Cost of Living Index in Reykjavik
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Reykjavik Living Index

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Asuncion

🇵🇾 Paraguay

$1,049

/mo nomad

Reykjavik

🇮🇸 Iceland

$4,037

/mo nomad

Monthly Cost of Living

How much you'll spend in Asuncion and in Reykjavik

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

A single person spends $1,049 per month in Asuncion vs $4,037 in Reykjavik, rent included.

Asuncion $1,049
Reykjavik $4,037

A couple spends around $1,635 per month in Asuncion vs $5,666 in Reykjavik, rent included.

Asuncion $1,635
Reykjavik $5,666

A family of three spends $2,221 per month in Asuncion vs $7,295 in Reykjavik, rent included.

Asuncion $2,221
Reykjavik $7,295

Asuncion is about 74% cheaper than Reykjavik, and outside of rent the biggest gap is in groceries.

Asuncion sits 22% below the global median, while Reykjavik is 201% above – they fall on opposite sides of the world average.

Meal at Budget Restaurant

$6.66 ₲37.8K

$30.59 ISK 3,730

-78.23%

Three-Course Dinner for Two, Mid-Range

$43.46 ₲246.7K

$136 ISK 16.5K

-67.93%

Fast Food Meal (McDonalds, etc)

$6.63 ₲37.6K

$27.08 ISK 3,302

-75.52%

Cappuccino

$3.44 ₲19.5K

$6.72 ISK 819

-48.81%

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

$1.07 ₲6,047

$3.27 ISK 399

-67.28%

Water (0.33 liter bottle)

$0.58 ₲3,299

$3.16 ISK 386

-81.65%

Local Beer (0.5 liter draught)

$1.85 ₲10.5K

$13.91 ISK 1,696

-86.70%

Imported Beer (0.33 liter bottle)

$1.70 ₲9,643

$12.06 ISK 1,470

-85.90%

Milk (1 liter)

$1.25 ₲7,087

$2.04 ISK 248

-38.73%

White Bread (500g)

$1.49 ₲8,448

$4.32 ISK 527

-65.51%

Rice (white) (1kg)

$1.35 ₲7,645

$3.67 ISK 447

-63.22%

Eggs

$2.32 ₲13.2K

$7.02 ISK 856

-66.95%

Local Cheese (1kg)

$9.85 ₲55.9K

$22.01 ISK 2,684

-55.25%

Chicken Fillets (1kg)

$5.20 ₲29.5K

$24.70 ISK 3,012

-78.95%

Beef Round Steak (1kg)

$9.91 ₲56.3K

$42.66 ISK 5,202

-76.77%

Apples (1kg)

$2.99 ₲17.0K

$3.37 ISK 412

-11.28%

Banana (1kg)

$1.23 ₲6,961

$2.85 ISK 347

-56.84%

Oranges (1kg)

$1.21 ₲6,866

$3.17 ISK 387

-61.83%

Tomato (1kg)

$2.45 ₲13.9K

$6.39 ISK 779

-61.66%

Potato (1kg)

$1.30 ₲7,405

$4.01 ISK 489

-67.58%

Onion (1kg)

$1.34 ₲7,583

$1.64 ISK 200

-18.29%

Lettuce (1 head)

$0.84 ₲4,746

$3.80 ISK 463

-77.89%

Water (1.5 liter bottle)

$0.69 ₲3,926

$1.74 ISK 212

-60.34%

Cigarettes 20 Pack (Marlboro, Camel)

$2.24 ₲12.7K

$13.80 ISK 1,682

-83.77%

Wine (Bottle)

$9.02 ₲51.2K

$23.38 ISK 2,851

-61.42%

Local Beer (0.5 liter bottle)

$1.33 ₲7,537

$3.53 ISK 430

-62.32%

Imported Beer (0.33 liter bottle)

$1.68 ₲9,516

$3.45 ISK 420

-51.30%

One-way Ticket (Public Transport)

$0.57 ₲3,213

$5.77 ISK 704

-90.12%

Public Transport Monthly Pass (Regular Price)

$38.02 ₲215.8K

$95.1 ISK 11.6K

-60.04%

Taxi Start (Normal Tariff)

$1.45 ₲8,222

$6.63 ISK 808

-78.13%

Taxi (Normal Tariff) (1km)

$1.57 ₲8,936

$2.79 ISK 341

-43.73%

Taxi 1hour Waiting (Normal Tariff)

$10.04 ₲57.0K

$81.4 ISK 9,923

-87.66%

Gasoline (1 liter)

$1.21 ₲6,842

$2.11 ISK 257

-42.65%

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

$16.9K ₲96.1M

$50.8K ISK 6.2M

-66.69%

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

$35.3K ₲200.5M

$52.7K ISK 6.4M

-33.01%

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

$50.1 ₲284.3K

$88.7 ISK 10.8K

-43.52%

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

$16.94 ₲96.2K

$31.53 ISK 3,845

-46.27%

Internet (50+ Mbps, Unlimited Data)

$21.75 ₲123.5K

$84.6 ISK 10.3K

-74.30%

Gym Membership (Monthly)

$36.50 ₲207.2K

$100 ISK 12.2K

-63.64%

Tennis Court (1 Hour on Weekend)

$14.89 ₲84.5K

$48.20 ISK 5,877

-69.11%

Cinema Ticket

$8.59 ₲48.8K

$19.87 ISK 2,424

-56.77%

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

$184 ₲1.0M

$1,277 ISK 155.8K

-85.58%

International Primary School, 1 Child (Yearly)

$5,873 ₲33.3M

$31.0K ISK 3.8M

-81.02%

Jeans (Levis 501 Or Similar)

$62.4 ₲354.4K

$161 ISK 19.6K

-61.19%

Summer Dress (H&M, Zara, etc)

$55.4 ₲314.2K

$64.9 ISK 7,914

-14.70%

Sport Shoes (Adidas, Nike)

$104 ₲592.2K

$183 ISK 22.3K

-42.88%

Men's Leather Business Shoes

$69.2 ₲392.6K

$254 ISK 31.0K

-72.75%

1-bedroom Apartment, City Center (Monthly)

$620 ₲3.5M

$2,499 ISK 304.8K

-75.17%

1-bedroom Apartment, Outside City Center (Monthly)

$373 ₲2.1M

$2,000 ISK 243.9K

-81.34%

3-bedroom Apartment, City Center (Monthly)

$1,050 ₲6.0M

$3,452 ISK 421.0K

-69.59%

3-bedroom Apartment, Outside City Center (Monthly)

$624 ₲3.5M

$2,742 ISK 334.4K

-77.24%

Buy Apartment in City Center (m2)

$1,716 ₲9.7M

$8,001 ISK 975.7K

-78.56%

Buy Apartment Outside City Center (m2)

$1,242 ₲7.0M

$6,249 ISK 762.1K

-80.13%

Average Monthly Net Salary (After Tax)

$723 ₲4.1M

$4,691 ISK 572.0K

-84.59%

20-Year Fixed Mortgage Interest Rate (Annual %)

10.15

8.81

15.21%

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

Last update for Asuncion: October 4, 2026

Last update for Reykjavik: October 4, 2026

Monthly budget structure

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

Accommodation & Living

Asuncion

$373 35.8%

Reykjavik

$2K 50.9% 436% $1.6K

Groceries & Markets

Asuncion

$213 20.4%

Reykjavik

$625 15.9% 194% $412

Eating Out

Asuncion

$134 12.8%

Reykjavik

$526 13.4% 294% $392

Clothing & Footwear

Asuncion

$131 12.6%

Reykjavik

$298 7.6% 127% $167

Monthly Utilities & Internet

Asuncion

$89 8.5%

Reykjavik

$205 5.2% 131% $116

Sport & Entertainment

Asuncion

$54 5.2%

Reykjavik

$140 3.6% 161% $86

Getting Around

Asuncion

$50 4.8%

Reykjavik

$139 3.5% 180% $89

Cost Breakdown

A central one-bedroom costs $620 in Asuncion versus $2,499 in Reykjavik. Rent is usually the largest line item in a monthly budget, so the gap here sets the tone for the overall comparison.

Salaries run about 549% higher in Reykjavik, which partly offsets the higher cost of living there. Purchasing power depends on which expenses matter most to you.

A mid-range dinner for two costs $43.00 in Asuncion versus $136 in Reykjavik. Monthly groceries follow the same trend: $213 vs $625 – making Asuncion the more affordable choice for daily food spending.

Good to know

🇵🇾 Asuncion

🇮🇸 Reykjavik

🕒 Local time

22:07 10:07 PM

01:07 1:07 AM

3 h ahead of Asuncion

🌤 Weather

👥 Population

742,023 Capital

136,894 Capital

💱 Currency

Paraguayan Guarani PYG ₲

Icelandic Króna ISK kr

📈 Exchange rate

10,000 PYG = 1.76 USD

10,000 PYG = 1.57 EUR

1,000 ISK = 8.2 USD

1,000 ISK = 7.31 EUR

Exchange rates and currency converter

ISK, USD, EUR to PYG – Paraguayan Guarani Converter

🇺🇸 United States Dollar ($)

🇵🇾 Paraguayan Guarani (₲)

Paraguayan Guarani exchange rates as of October 10, 2026: 1 USD = 5,676 PYG (10,000 PYG = 1.76 USD). 1 EUR = 6,366 PYG (10,000 PYG = 1.57 EUR).

Icelandic Króna exchange rates as of October 10, 2026: 1 USD = 122 ISK (1,000 ISK = 8.2 USD). 1 EUR = 137 ISK (1,000 ISK = 7.31 EUR).

USD to PYG in detail →

On the map

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Highest

Between locations

Asuncion Reykjavik 10,420 km ≈ 14 h nonstop flight

From you

Asuncion
Reykjavik

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

Asuncion vs Reykjavik: Cost of Living - Frequently Asked Questions

Yes – Reykjavik is pricier by about 285%, and outside of rent the gap shows up most in groceries.

For a comfortable life, plan on about $1,574 per month in Asuncion and $6,055 in Reykjavik. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

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

Public transport costs about 150% less in Asuncion. For daily commuters, that gap adds up to noticeable savings over a year.

Kindergarten costs $184 per month in Asuncion and $1,277 in Reykjavik. For families with young kids, this one expense can tip the scales when choosing between the two cities.

A $1,500 monthly budget goes further in Asuncion, where all-in costs run around $1,049, than in Reykjavik at $4,037. In Asuncion it covers expenses comfortably, while in Reykjavik it requires careful planning or may not stretch far enough.

Families tend to lean toward Asuncion – 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 Asuncion. If higher salaries, better infrastructure, or specific career opportunities are the priority, Reykjavik makes more sense. Both are solid long-term options with distinct trade-offs.