Last update: Oct 2026

Cost of Living Comparison Between Grundarfjordur and Medellin

For one person, living costs are similar in Grundarfjordur and in Medellin: $1,713 and $1,639 a month, rent and utilities included.

83

Cost of Living Index in Grundarfjordur
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Grundarfjordur Living Index
79

Cost of Living Index in Medellin
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Medellin Living Index

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Grundarfjordur

🇮🇸 Iceland

$1,713

/mo nomad

Medellin

🇨🇴 Colombia

$1,639

/mo nomad

Monthly Cost of Living

How much you'll spend in Grundarfjordur 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 Grundarfjordur and in Medellin actually costs, broken down by who's living it.

Monthly costs for one person with rent: $1,713 in Grundarfjordur versus $1,639 in Medellin.

Grundarfjordur $1,713
Medellin $1,639

Estimated couple costs with rent: $2,918 in Grundarfjordur versus $2,413 in Medellin.

Grundarfjordur $2,918
Medellin $2,413

Monthly costs for a family of three with rent: $4,122 in Grundarfjordur versus $3,186 in Medellin.

Grundarfjordur $4,122
Medellin $3,186

Living in Grundarfjordur is roughly 4% more expensive than in Medellin, and outside of rent the biggest gap is in eating out.

Both cities are pricier than the global median: Grundarfjordur 26% above, Medellin 20% above.

Meal at Budget Restaurant

$30.53 ISK 3,720

$8.09 COP 25.4K

277.38%

Three-Course Dinner for Two, Mid-Range

$124 ISK 15.1K

$47.05 COP 148.0K

163.80%

Fast Food Meal (McDonalds, etc)

$27.06 ISK 3,298

$9.50 COP 29.9K

184.84%

Cappuccino

$6.61 ISK 805

$3.01 COP 9,485

119.60%

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

$3.34 ISK 407

$1.80 COP 5,660

85.56%

Water (0.33 liter bottle)

$3.03 ISK 370

$1.41 COP 4,443

114.89%

Local Beer (0.5 liter draught)

$14.17 ISK 1,726

$3.18 COP 9,990

345.60%

Imported Beer (0.33 liter bottle)

$12.21 ISK 1,488

$5.75 COP 18.1K

112.35%

Milk (1 liter)

$2.09 ISK 255

$1.51 COP 4,751

38.41%

White Bread (500g)

$4.11 ISK 501

$2.38 COP 7,480

72.69%

Rice (white) (1kg)

$3.73 ISK 455

$1.77 COP 5,573

110.73%

Eggs

$6.93 ISK 845

$2.89 COP 9,093

139.79%

Local Cheese (1kg)

$21.76 ISK 2,651

$10.19 COP 32.1K

113.54%

Chicken Fillets (1kg)

$24.62 ISK 2,999

$9.87 COP 31.1K

149.44%

Beef Round Steak (1kg)

$42.23 ISK 5,145

$13.99 COP 44.0K

201.86%

Apples (1kg)

$3.31 ISK 403

$3.97 COP 12.5K

-16.62%

Banana (1kg)

$2.77 ISK 337

$1.55 COP 4,883

78.71%

Oranges (1kg)

$3.16 ISK 385

$2.18 COP 6,867

44.95%

Tomato (1kg)

$6.32 ISK 770

$2.18 COP 6,870

189.91%

Potato (1kg)

$4.01 ISK 488

$1.96 COP 6,174

104.59%

Onion (1kg)

$1.65 ISK 201

$1.59 COP 5,000

3.77%

Lettuce (1 head)

$3.84 ISK 467

$1.15 COP 3,604

233.91%

Water (1.5 liter bottle)

$1.77 ISK 216

$1.24 COP 3,911

42.74%

Cigarettes 20 Pack (Marlboro, Camel)

$14.16 ISK 1,725

$3.96 COP 12.5K

257.58%

Wine (Bottle)

$23.44 ISK 2,856

$13.68 COP 43.0K

71.35%

Local Beer (0.5 liter bottle)

$3.69 ISK 450

$1.66 COP 5,222

122.29%

Imported Beer (0.33 liter bottle)

$3.48 ISK 424

$2.26 COP 7,104

53.98%

One-way Ticket (Public Transport)

$1.17 COP 3,674

Public Transport Monthly Pass (Regular Price)

$77.4 COP 243.4K

Taxi Start (Normal Tariff)

$6.59 ISK 802

$1.27 COP 3,989

418.90%

Taxi (Normal Tariff) (1km)

$2.80 ISK 341

$2.05 COP 6,442

36.59%

Taxi 1hour Waiting (Normal Tariff)

$80.5 ISK 9,808

$8.55 COP 26.9K

841.52%

Gasoline (1 liter)

$2.10 ISK 256

$1.35 COP 4,237

55.56%

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

$68.8K ISK 8.4M

$34.1K COP 107.2M

101.87%

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

$55.0K ISK 6.7M

$34.7K COP 109.1M

58.75%

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

$97.0 ISK 11.8K

$170 COP 533.7K

-42.82%

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

$32.92 ISK 4,011

$13.55 COP 42.6K

142.95%

Internet (50+ Mbps, Unlimited Data)

$86.2 ISK 10.5K

$28.07 COP 88.3K

207.23%

Gym Membership (Monthly)

$43.70 COP 137.5K

Tennis Court (1 Hour on Weekend)

$17.19 COP 54.1K

Cinema Ticket

$19.36 ISK 2,359

$6.91 COP 21.7K

180.17%

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

$1,182 ISK 144.0K

$797 COP 2.5M

48.34%

International Primary School, 1 Child (Yearly)

$26.3K ISK 3.2M

$9,112 COP 28.7M

188.98%

Jeans (Levis 501 Or Similar)

$148 ISK 18.0K

$84.7 COP 266.5K

74.58%

Summer Dress (H&M, Zara, etc)

$66.1 ISK 8,059

$58.0 COP 182.3K

14.11%

Sport Shoes (Adidas, Nike)

$185 ISK 22.5K

$135 COP 424.6K

37.11%

Men's Leather Business Shoes

$247 ISK 30.1K

$97.9 COP 307.9K

152.27%

1-bedroom Apartment, City Center (Monthly)

$1,208 COP 3.8M

1-bedroom Apartment, Outside City Center (Monthly)

$642 COP 2.0M

3-bedroom Apartment, City Center (Monthly)

$2,028 COP 6.4M

3-bedroom Apartment, Outside City Center (Monthly)

$1,012 COP 3.2M

Buy Apartment in City Center (m2)

$4,170 COP 13.1M

Buy Apartment Outside City Center (m2)

$1,098 ISK 133.8K

$1,910 COP 6.0M

-42.53%

Average Monthly Net Salary (After Tax)

$657 COP 2.1M

20-Year Fixed Mortgage Interest Rate (Annual %)

8.81

10.94

-19.47%

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

Last update for Grundarfjordur: October 24, 2026

Last update for Medellin: October 25, 2026

Monthly budget structure

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

Groceries & Markets

Grundarfjordur

$621 36.3%

Medellin

$297 18.1% 52.2% $324

Eating Out

Grundarfjordur

$525 30.7%

Medellin

$170 10.4% 67.7% $356

Clothing & Footwear

Grundarfjordur

$291 17%

Medellin

$169 10.3% 41.9% $122

Monthly Utilities & Internet

Grundarfjordur

$216 12.6%

Medellin

$211 12.9% 2.3% $4.9

Sport & Entertainment

Grundarfjordur

$39 * 2.3%

Medellin

$58 3.5% 48.6% $19

Getting Around

Grundarfjordur

$21 * 1.2%

Medellin

$94 5.7% 354% $73

Accommodation & Living

Grundarfjordur

- * 0%

Medellin

$642 39.1%

Categories marked with * are only partly priced – their share counts the items that do have prices.

Cost Breakdown

Dining out: $124 in Grundarfjordur vs $47 in Medellin for a mid-range dinner for two. Groceries echo the gap at $621 vs $297 per month, with Medellin cheaper across the board.

Good to know

🇮🇸 Grundarfjordur

🇨🇴 Medellin

🕒 Local time

09:29 9:29 AM

04:29 4:29 AM

5 h behind Grundarfjordur

🌤 Weather

👥 Population

800

2,486,723

💱 Currency

Icelandic Króna ISK kr

Colombian Peso COP $

📈 Exchange rate

1,000 ISK = 8.21 USD

1,000 ISK = 7.37 EUR

10,000 COP = 3.18 USD

10,000 COP = 2.86 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 28, 2026: 1 USD = 122 ISK (1,000 ISK = 8.21 USD). 1 EUR = 136 ISK (1,000 ISK = 7.37 EUR).

Colombian Peso exchange rates as of October 28, 2026: 1 USD = 3,146 COP (10,000 COP = 3.18 USD). 1 EUR = 3,501 COP (10,000 COP = 2.86 EUR).

USD to ISK in detail →

On the map

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Between locations

Grundarfjordur Medellin 7,690 km ≈ 10 h nonstop flight

From you

Grundarfjordur
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

Grundarfjordur vs Medellin: Cost of Living - Frequently Asked Questions

Medellin wins on cost – living expenses run 4% lower than in Grundarfjordur. Housing and daily spending are where you’ll feel the difference most, making Medellin the obvious pick if budget is a priority.

You’d need roughly $2,570 in Grundarfjordur and $2,459 in Medellin to live well. The gap comes down to housing and overall price levels. Both cities are liveable on less, but these numbers represent actual comfort.

Supermarket bills run roughly 109% higher in Grundarfjordur. For households that cook at home regularly, that difference adds up over a month.

All in, you’ll spend $1,713 per month in Grundarfjordur versus $1,639 in Medellin – a 4% gap that adds up to real savings over time for anyone picking the cheaper option.

Either city works on $2,500 a month, though Medellin gives you more room to save. At this income level, the choice is more about lifestyle than financial pressure.

Both cities offer a good standard of living with different trade-offs. Neither is objectively better – the right pick depends on what matters most: affordability, career, cultural scene, or climate.