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

Monthly Cost of Living

A single person spends $3,743 per month in Hafnarfjordur vs $1,003 in Medellin, rent included.

A couple spends around $5,243 per month in Hafnarfjordur vs $1,573 in Medellin, rent included.

A family of three spends $6,742 per month in Hafnarfjordur vs $2,143 in Medellin, rent included.

Hafnarfjordur costs about 273% more than Medellin, driven mainly by Groceries & Markets.

Hafnarfjordur sits 181% above the global median, while Medellin is 25% below – they fall on opposite sides of the world average.

Meal at Budget Restaurant

$26.51 ISK 3,277

$5.91 COP 18.6K

348.56%

Three-Course Dinner for Two, Mid-Range

$145 ISK 18.0K

$32.96 COP 103.9K

341.38%

Fast Food Meal (McDonalds, etc)

$16.15 ISK 1,997

$7.43 COP 23.4K

117.36%

Cappuccino

$5.95 ISK 735

$1.65 COP 5,211

260.61%

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

$3.26 ISK 403

$1.10 COP 3,471

196.36%

Water (0.33 liter bottle)

$2.61 ISK 323

$0.78 COP 2,460

234.62%

Local Beer (0.5 liter draught)

$12.64 ISK 1,562

$1.72 COP 5,416

634.88%

Imported Beer (0.33 liter bottle)

$11.36 ISK 1,404

$3.18 COP 10.0K

257.23%

Milk (1 liter)

$1.69 ISK 209

$1.10 COP 3,477

53.64%

White Bread (500g)

$4.31 ISK 532

$1.26 COP 3,965

242.06%

Rice (white) (1kg)

$3.56 ISK 440

$1.38 COP 4,353

157.97%

Eggs

$6.21 ISK 767

$2.18 COP 6,864

184.86%

Local Cheese (1kg)

$18.06 ISK 2,232

$4.49 COP 14.2K

302.23%

Chicken Fillets (1kg)

$23.82 ISK 2,944

$5.79 COP 18.3K

311.40%

Beef Round Steak (1kg)

$43.07 ISK 5,324

$8.97 COP 28.3K

380.16%

Apples (1kg)

$3.35 ISK 414

$2.32 COP 7,314

44.40%

Banana (1kg)

$2.34 ISK 289

$1.06 COP 3,355

120.75%

Oranges (1kg)

$3.14 ISK 388

$1.52 COP 4,778

106.58%

Tomato (1kg)

$5.03 ISK 622

$1.36 COP 4,273

269.85%

Potato (1kg)

$3.67 ISK 453

$1.13 COP 3,555

224.78%

Onion (1kg)

$2.40 ISK 296

$1.17 COP 3,692

105.13%

Lettuce (1 head)

$3.07 ISK 380

$0.90 COP 2,840

241.11%

Water (1.5 liter bottle)

$1.92 ISK 237

$0.90 COP 2,826

113.33%

Cigarettes 20 Pack (Marlboro, Camel)

$13.77 ISK 1,703

$2.23 COP 7,039

517.49%

Wine (Bottle)

$23.38 ISK 2,890

$12.12 COP 38.2K

92.90%

Local Beer (0.5 liter bottle)

$3.64 ISK 450

$1.19 COP 3,746

205.88%

Imported Beer (0.33 liter bottle)

$3.21 ISK 397

$2.48 COP 7,822

29.44%

One-way Ticket (Public Transport)

$5.19 ISK 642

$0.85 COP 2,690

510.59%

Public Transport Monthly Pass (Regular Price)

$83.2 ISK 10.3K

$41.62 COP 131.1K

99.93%

Taxi Start (Normal Tariff)

$6.47 ISK 800

$1.42 COP 4,462

355.63%

Taxi (Normal Tariff) (1km)

$2.52 ISK 312

$1.95 COP 6,146

29.23%

Taxi 1hour Waiting (Normal Tariff)

$85.7 ISK 10.6K

$7.89 COP 24.8K

986.69%

Gasoline (1 liter)

$2.45 ISK 303

$0.99 COP 3,121

147.47%

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

$46.5K ISK 5.7M

$17.6K COP 55.5M

164.07%

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

$52.0K ISK 6.4M

$26.8K COP 84.4M

94.17%

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

$69.5 ISK 8,589

$83.0 COP 261.6K

-16.29%

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

$27.05 ISK 3,344

$9.70 COP 30.6K

178.87%

Internet (50+ Mbps, Unlimited Data)

$86.3 ISK 10.7K

$23.52 COP 74.1K

266.75%

Gym Membership (Monthly)

$64.1 ISK 7,917

$25.26 COP 79.6K

153.56%

Tennis Court (1 Hour on Weekend)

$19.10 COP 60.2K

Cinema Ticket

$16.45 ISK 2,033

$3.95 COP 12.4K

316.46%

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

$321 ISK 39.7K

$316 COP 995.1K

1.80%

International Primary School, 1 Child (Yearly)

$30.1K ISK 3.7M

$5,975 COP 18.8M

403.58%

Jeans (Levis 501 Or Similar)

$118 ISK 14.6K

$60.0 COP 189.1K

97.38%

Summer Dress (H&M, Zara, etc)

$60.9 ISK 7,527

$31.82 COP 100.3K

91.39%

Sport Shoes (Adidas, Nike)

$121 ISK 15.0K

$102 COP 320.4K

19.16%

Men's Leather Business Shoes

$271 ISK 33.4K

$107 COP 338.6K

151.82%

1-bedroom Apartment, City Center (Monthly)

$2,379 ISK 294.1K

$475 COP 1.5M

400.94%

1-bedroom Apartment, Outside City Center (Monthly)

$2,013 ISK 248.8K

$374 COP 1.2M

438.27%

3-bedroom Apartment, City Center (Monthly)

$3,196 ISK 395.0K

$849 COP 2.7M

276.35%

3-bedroom Apartment, Outside City Center (Monthly)

$2,588 ISK 319.9K

$719 COP 2.3M

259.77%

Buy Apartment in City Center (m2)

$6,883 ISK 850.7K

$3,265 COP 10.3M

110.78%

Buy Apartment Outside City Center (m2)

$6,652 ISK 822.2K

$1,441 COP 4.5M

361.78%

Average Monthly Net Salary (After Tax)

$4,538 ISK 560.9K

$624 COP 2.0M

626.76%

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: July 27, 2026

Last update for Medellin: July 27, 2026

Cost Breakdown

A central one-bedroom costs $2,379 in Hafnarfjordur versus $475 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 627% 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: $593 vs $193 – 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 273% 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 $5,615 per month in Hafnarfjordur and $1,504 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 $3,743 in Hafnarfjordur and $1,003 in Medellin. The difference isn't just one category – it shows up across housing, food, transport, and services.

Public transport costs about 100% 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 $1,003, than in Hafnarfjordur at $3,743. 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 $1,003 versus $3,743 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.