Cost of Living Comparison Between Hafnarfjordur and Medellin Cost of Living Comparison Between Hafnarfjordur and Medellin

Monthly Cost of Living

A single person spends $3,883 per month in Hafnarfjordur vs $1,681 in Medellin, rent included.

A couple spends around $5,451 per month in Hafnarfjordur vs $2,445 in Medellin, rent included.

A family of three spends $7,020 per month in Hafnarfjordur vs $3,210 in Medellin, rent included.

Hafnarfjordur costs about 131% more than Medellin, driven mainly by Eating Out.

Both Hafnarfjordur and Medellin sit above the global median – Hafnarfjordur by 184%, Medellin by 23%.

Meal at Budget Restaurant

$29.94 ISK 3,646

$8.02 COP 25.0K

273.32%

Three-Course Dinner for Two, Mid-Range

$138 ISK 16.8K

$47.87 COP 149.4K

188.18%

Fast Food Meal (McDonalds, etc)

$16.77 ISK 2,043

$9.89 COP 30.8K

69.57%

Cappuccino

$6.76 ISK 824

$3.13 COP 9,767

115.97%

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

$3.40 ISK 414

$1.91 COP 5,954

78.01%

Water (0.33 liter bottle)

$3.19 ISK 389

$1.51 COP 4,712

111.26%

Local Beer (0.5 liter draught)

$14.25 ISK 1,735

$3.12 COP 9,747

356.73%

Imported Beer (0.33 liter bottle)

$12.40 ISK 1,510

$5.75 COP 17.9K

115.65%

Milk (1 liter)

$1.71 ISK 209

$1.44 COP 4,509

18.75%

White Bread (500g)

$4.27 ISK 521

$2.49 COP 7,759

71.49%

Rice (white) (1kg)

$3.68 ISK 448

$1.77 COP 5,535

107.91%

Eggs

$7.36 ISK 896

$2.96 COP 9,235

148.65%

Local Cheese (1kg)

$21.02 ISK 2,560

$10.07 COP 31.4K

108.74%

Chicken Fillets (1kg)

$25.05 ISK 3,051

$10.12 COP 31.6K

147.53%

Beef Round Steak (1kg)

$42.64 ISK 5,193

$14.30 COP 44.6K

198.18%

Apples (1kg)

$3.36 ISK 410

$4.14 COP 12.9K

-18.84%

Banana (1kg)

$2.49 ISK 303

$1.61 COP 5,019

54.66%

Oranges (1kg)

$3.21 ISK 391

$2.25 COP 7,007

42.67%

Tomato (1kg)

$6.43 ISK 783

$2.25 COP 7,028

185.78%

Potato (1kg)

$3.98 ISK 484

$2.04 COP 6,375

95.10%

Onion (1kg)

$1.65 ISK 201

$1.54 COP 4,790

7.14%

Lettuce (1 head)

$3.79 ISK 461

$1.17 COP 3,651

223.93%

Water (1.5 liter bottle)

$1.82 ISK 221

$1.31 COP 4,077

38.93%

Cigarettes 20 Pack (Marlboro, Camel)

$14.15 ISK 1,724

$3.90 COP 12.2K

262.82%

Wine (Bottle)

$23.99 ISK 2,922

$14.01 COP 43.7K

71.23%

Local Beer (0.5 liter bottle)

$3.86 ISK 471

$1.74 COP 5,439

121.84%

Imported Beer (0.33 liter bottle)

$3.45 ISK 421

$2.87 COP 8,956

20.21%

One-way Ticket (Public Transport)

$5.33 ISK 649

$1.22 COP 3,792

336.89%

Public Transport Monthly Pass (Regular Price)

$85.0 ISK 10.4K

$80.5 COP 251.1K

5.60%

Taxi Start (Normal Tariff)

$6.72 ISK 818

$1.31 COP 4,084

412.98%

Taxi (Normal Tariff) (1km)

$2.80 ISK 341

$2.19 COP 6,825

27.85%

Taxi 1hour Waiting (Normal Tariff)

$73.9 ISK 8,997

$8.71 COP 27.2K

748.11%

Gasoline (1 liter)

$1.93 ISK 235

$1.37 COP 4,260

40.88%

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

$50.3K ISK 6.1M

$27.8K COP 86.9M

80.72%

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

$53.7K ISK 6.5M

$35.8K COP 111.6M

50.18%

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

$68.8 ISK 8,382

$177 COP 553.2K

-61.18%

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

$33.41 ISK 4,070

$13.88 COP 43.3K

140.71%

Internet (50+ Mbps, Unlimited Data)

$84.7 ISK 10.3K

$29.72 COP 92.8K

185.09%

Gym Membership (Monthly)

$66.2 ISK 8,067

$44.88 COP 140.1K

47.57%

Tennis Court (1 Hour on Weekend)

$17.12 COP 53.4K

Cinema Ticket

$16.76 ISK 2,042

$6.65 COP 20.7K

152.03%

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

$1,190 ISK 145.0K

$813 COP 2.5M

46.42%

International Primary School, 1 Child (Yearly)

$31.5K ISK 3.8M

$9,187 COP 28.7M

242.92%

Jeans (Levis 501 Or Similar)

$124 ISK 15.1K

$89.5 COP 279.3K

38.33%

Summer Dress (H&M, Zara, etc)

$66.9 ISK 8,152

$59.0 COP 184.0K

13.50%

Sport Shoes (Adidas, Nike)

$122 ISK 14.8K

$138 COP 431.2K

-12.05%

Men's Leather Business Shoes

$254 ISK 31.0K

$102 COP 318.7K

148.82%

1-bedroom Apartment, City Center (Monthly)

$2,445 ISK 297.8K

$1,062 COP 3.3M

130.24%

1-bedroom Apartment, Outside City Center (Monthly)

$2,055 ISK 250.4K

$663 COP 2.1M

210.06%

3-bedroom Apartment, City Center (Monthly)

$3,353 ISK 408.4K

$1,888 COP 5.9M

77.56%

3-bedroom Apartment, Outside City Center (Monthly)

$2,683 ISK 326.7K

$1,027 COP 3.2M

161.17%

Buy Apartment in City Center (m2)

$7,113 ISK 866.4K

$4,183 COP 13.1M

70.04%

Buy Apartment Outside City Center (m2)

$7,146 ISK 870.4K

$1,675 COP 5.2M

326.73%

Average Monthly Net Salary (After Tax)

$4,674 ISK 569.3K

$678 COP 2.1M

589.65%

20-Year Fixed Mortgage Interest Rate (Annual %)

8.88

10.94

-18.83%

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

Last update for Hafnarfjordur: September 13, 2026

Last update for Medellin: September 14, 2026

Cost Breakdown

A central one-bedroom costs $2,445 in Hafnarfjordur versus $1,062 in Medellin. 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 590% higher in Hafnarfjordur, 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 $138 in Hafnarfjordur versus $48.00 in Medellin. Monthly groceries follow the same trend: $623 vs $305 – making Medellin the more affordable choice for daily food spending.

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

Hafnarfjordur vs Medellin: Cost of Living - Frequently Asked Questions

Hafnarfjordur costs about 131% more than Medellin, with the gap driven mainly by Eating Out. That's enough to noticeably affect everyday spending and lifestyle for anyone choosing between the two.

For a comfortable life, plan on about $5,824 per month in Hafnarfjordur and $2,521 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.

Monthly expenses with rent come to $3,883 in Hafnarfjordur and $1,681 in Medellin. The difference isn't just one category – it shows up across housing, food, transport, and services.

Public transport costs about 6% less in Medellin. For daily commuters, that gap adds up to noticeable savings over a year.

A $2,500 monthly budget goes further in Medellin, where all-in costs run around $1,681, than in Hafnarfjordur at $3,883. In Medellin it covers expenses comfortably, while in Hafnarfjordur it requires careful planning or may not stretch far enough.

For digital nomads, it depends on budget. Medellin costs $1,681 versus $3,883 in Hafnarfjordur. Both have workable remote work infrastructure, but the cost gap matters when income varies month to month.

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, Hafnarfjordur makes more sense. Both are solid long-term options with distinct trade-offs.