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

Monthly Cost of Living

A single person spends $3,667 per month in Hafnarfjordur vs $1,034 in Medellin, rent included.

A couple spends around $5,242 per month in Hafnarfjordur vs $1,577 in Medellin, rent included.

A family of three spends $6,816 per month in Hafnarfjordur vs $2,120 in Medellin, rent included.

Hafnarfjordur costs about 255% more than Medellin, driven mainly by Groceries & Markets.

Hafnarfjordur sits 174% above the global median, while Medellin is 23% below – they fall on opposite sides of the world average.

Meal at Budget Restaurant

$26.49 ISK 3,244

$5.92 COP 21.5K

347.47%

Three-Course Dinner for Two, Mid-Range

$145 ISK 17.7K

$32.75 COP 119.1K

341.86%

Fast Food Meal (McDonalds, etc)

$15.93 ISK 1,951

$7.20 COP 26.2K

121.25%

Cappuccino

$6.21 ISK 760

$1.70 COP 6,186

265.29%

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

$3.37 ISK 413

$1.10 COP 3,996

206.36%

Water (0.33 liter bottle)

$2.63 ISK 322

$0.72 COP 2,625

265.28%

Local Beer (0.5 liter draught)

$12.82 ISK 1,570

$1.67 COP 6,067

667.66%

Imported Beer (0.33 liter bottle)

$11.07 ISK 1,356

$3.10 COP 11.3K

257.10%

Milk (1 liter)

$1.61 ISK 198

$1.06 COP 3,837

51.89%

White Bread (500g)

$4.26 ISK 522

$1.25 COP 4,531

240.80%

Rice (white) (1kg)

$3.70 ISK 453

$1.39 COP 5,060

166.19%

Eggs

$6.29 ISK 770

$2.26 COP 8,229

178.32%

Local Cheese (1kg)

$18.50 ISK 2,266

$4.33 COP 15.8K

327.25%

Chicken Fillets (1kg)

$24.21 ISK 2,965

$5.84 COP 21.2K

314.55%

Beef Round Steak (1kg)

$42.07 ISK 5,152

$8.83 COP 32.1K

376.44%

Apples (1kg)

$3.24 ISK 396

$2.24 COP 8,159

44.64%

Banana (1kg)

$2.40 ISK 294

$1.08 COP 3,911

122.22%

Oranges (1kg)

$3.00 ISK 367

$1.53 COP 5,563

96.08%

Tomato (1kg)

$4.93 ISK 603

$1.37 COP 4,987

259.85%

Potato (1kg)

$3.51 ISK 430

$1.13 COP 4,109

210.62%

Onion (1kg)

$2.32 ISK 285

$1.12 COP 4,067

107.14%

Lettuce (1 head)

$3.16 ISK 386

$0.85 COP 3,080

271.76%

Water (1.5 liter bottle)

$1.93 ISK 237

$0.91 COP 3,305

112.09%

Cigarettes 20 Pack (Marlboro, Camel)

$13.78 ISK 1,687

$2.33 COP 8,477

491.42%

Wine (Bottle)

$22.71 ISK 2,782

$11.13 COP 40.5K

104.04%

Local Beer (0.5 liter bottle)

$3.71 ISK 455

$1.19 COP 4,342

211.76%

Imported Beer (0.33 liter bottle)

$3.32 ISK 407

$2.37 COP 8,617

40.08%

One-way Ticket (Public Transport)

$5.00 ISK 612

$0.79 COP 2,859

532.91%

Public Transport Monthly Pass (Regular Price)

$83.2 ISK 10.2K

$41.13 COP 149.6K

102.19%

Taxi Start (Normal Tariff)

$6.31 ISK 772

$1.44 COP 5,223

338.19%

Taxi (Normal Tariff) (1km)

$2.61 ISK 319

$1.91 COP 6,952

36.65%

Taxi 1hour Waiting (Normal Tariff)

$87.5 ISK 10.7K

$8.02 COP 29.2K

991.40%

Gasoline (1 liter)

$2.51 ISK 308

$0.94 COP 3,410

167.02%

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

$47.6K ISK 5.8M

$17.9K COP 65.2M

165.56%

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

$52.6K ISK 6.4M

$26.8K COP 97.4M

96.21%

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

$69.6 ISK 8,523

$84.0 COP 305.4K

-17.12%

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

$27.48 ISK 3,366

$9.60 COP 34.9K

186.25%

Internet (50+ Mbps, Unlimited Data)

$84.3 ISK 10.3K

$24.16 COP 87.9K

249.01%

Gym Membership (Monthly)

$63.1 ISK 7,731

$25.88 COP 94.1K

143.89%

Tennis Court (1 Hour on Weekend)

$19.04 COP 69.3K

Cinema Ticket

$16.36 ISK 2,003

$3.92 COP 14.2K

317.35%

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

$318 ISK 39.0K

$306 COP 1.1M

3.81%

International Primary School, 1 Child (Yearly)

$30.3K ISK 3.7M

$5,919 COP 21.5M

412.19%

Jeans (Levis 501 Or Similar)

$120 ISK 14.7K

$57.9 COP 210.6K

106.70%

Summer Dress (H&M, Zara, etc)

$60.6 ISK 7,423

$31.82 COP 115.7K

90.48%

Sport Shoes (Adidas, Nike)

$121 ISK 14.8K

$99.9 COP 363.3K

20.74%

Men's Leather Business Shoes

$263 ISK 32.3K

$107 COP 389.7K

145.89%

1-bedroom Apartment, City Center (Monthly)

$2,442 ISK 299.1K

$487 COP 1.8M

401.82%

1-bedroom Apartment, Outside City Center (Monthly)

$2,047 ISK 250.7K

$368 COP 1.3M

456.25%

3-bedroom Apartment, City Center (Monthly)

$3,209 ISK 393.1K

$826 COP 3.0M

288.71%

3-bedroom Apartment, Outside City Center (Monthly)

$2,523 ISK 309.0K

$716 COP 2.6M

252.32%

Buy Apartment in City Center (m2)

$6,916 ISK 847.0K

$2,925 COP 10.6M

136.43%

Buy Apartment Outside City Center (m2)

$7,027 ISK 860.6K

$1,407 COP 5.1M

399.51%

Average Monthly Net Salary (After Tax)

$4,789 ISK 586.5K

$546 COP 2.0M

777.90%

20-Year Fixed Mortgage Interest Rate (Annual %)

9.63

13.43

-28.29%

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

Last update for Hafnarfjordur: April 26, 2026

Last update for Medellin: April 27, 2026

Cost Breakdown

A central one-bedroom costs $2,442 in Hafnarfjordur versus $487 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 778% 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 $145 in Hafnarfjordur versus $33.00 in Medellin. Monthly groceries follow the same trend: $590 vs $190 – 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 255% more than Medellin, with the gap driven mainly by Groceries & Markets. That's enough to noticeably affect everyday spending and lifestyle for anyone choosing between the two.

For a comfortable life, plan on about $5,501 per month in Hafnarfjordur and $1,550 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 $3,667 in Hafnarfjordur and $1,034 in Medellin. The difference isn't just one category – it shows up across housing, food, transport, and services.

Public transport costs about 102% less in Medellin. For daily commuters, that gap adds up to noticeable savings over a year.

A $1,500 monthly budget goes further in Medellin, where all-in costs run around $1,034, than in Hafnarfjordur at $3,667. 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 $1,034 versus $3,667 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.