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

Monthly Cost of Living

A single person spends $3,661 per month in Hafnarfjordur vs $1,017 in Medellin, rent included.

A couple spends around $5,235 per month in Hafnarfjordur vs $1,602 in Medellin, rent included.

A family of three spends $6,808 per month in Hafnarfjordur vs $2,188 in Medellin, rent included.

Hafnarfjordur costs about 260% more than Medellin, driven mainly by Groceries & Markets.

Hafnarfjordur sits 172% above the global median, while Medellin is 24% below – they fall on opposite sides of the world average.

Meal at Budget Restaurant

$27.17 ISK 3,383

$5.95 COP 20.8K

356.64%

Three-Course Dinner for Two, Mid-Range

$145 ISK 18.0K

$33.33 COP 116.3K

334.50%

Fast Food Meal (McDonalds, etc)

$16.06 ISK 2,000

$7.23 COP 25.2K

122.13%

Cappuccino

$6.26 ISK 779

$1.63 COP 5,687

284.05%

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

$3.33 ISK 414

$1.09 COP 3,821

205.50%

Water (0.33 liter bottle)

$2.50 ISK 312

$0.73 COP 2,548

242.47%

Local Beer (0.5 liter draught)

$12.85 ISK 1,599

$1.74 COP 6,065

638.51%

Imported Beer (0.33 liter bottle)

$11.35 ISK 1,413

$3.23 COP 11.3K

251.39%

Milk (1 liter)

$1.68 ISK 209

$1.05 COP 3,662

60.00%

White Bread (500g)

$4.25 ISK 529

$1.29 COP 4,515

229.46%

Rice (white) (1kg)

$3.56 ISK 443

$1.32 COP 4,617

169.70%

Eggs

$6.51 ISK 810

$2.27 COP 7,927

186.78%

Local Cheese (1kg)

$18.32 ISK 2,281

$4.35 COP 15.2K

321.15%

Chicken Fillets (1kg)

$24.43 ISK 3,042

$5.88 COP 20.5K

315.48%

Beef Round Steak (1kg)

$41.97 ISK 5,225

$8.61 COP 30.0K

387.46%

Apples (1kg)

$3.35 ISK 417

$2.25 COP 7,844

48.89%

Banana (1kg)

$2.46 ISK 306

$1.07 COP 3,733

129.91%

Oranges (1kg)

$3.02 ISK 376

$1.52 COP 5,322

98.68%

Tomato (1kg)

$5.05 ISK 629

$1.42 COP 4,964

255.63%

Potato (1kg)

$3.57 ISK 444

$1.17 COP 4,084

205.13%

Onion (1kg)

$2.45 ISK 305

$1.17 COP 4,077

109.40%

Lettuce (1 head)

$3.19 ISK 397

$0.89 COP 3,096

258.43%

Water (1.5 liter bottle)

$2.01 ISK 250

$0.90 COP 3,146

123.33%

Cigarettes 20 Pack (Marlboro, Camel)

$13.54 ISK 1,686

$2.25 COP 7,837

501.78%

Wine (Bottle)

$23.20 ISK 2,888

$11.04 COP 38.5K

110.14%

Local Beer (0.5 liter bottle)

$3.70 ISK 460

$1.14 COP 3,977

224.56%

Imported Beer (0.33 liter bottle)

$3.25 ISK 405

$2.38 COP 8,301

36.55%

One-way Ticket (Public Transport)

$5.09 ISK 634

$0.84 COP 2,916

505.95%

Public Transport Monthly Pass (Regular Price)

$84.4 ISK 10.5K

$41.95 COP 146.4K

101.26%

Taxi Start (Normal Tariff)

$6.25 ISK 778

$1.41 COP 4,912

343.26%

Taxi (Normal Tariff) (1km)

$2.63 ISK 328

$1.90 COP 6,634

38.42%

Taxi 1hour Waiting (Normal Tariff)

$85.6 ISK 10.7K

$7.75 COP 27.0K

1004.13%

Gasoline (1 liter)

$2.49 ISK 311

$1.01 COP 3,509

146.53%

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

$48.1K ISK 6.0M

$17.6K COP 61.4M

173.44%

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

$52.4K ISK 6.5M

$26.5K COP 92.5M

97.93%

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

$68.0 ISK 8,465

$83.7 COP 292.1K

-18.75%

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

$27.22 ISK 3,389

$9.45 COP 33.0K

188.04%

Internet (50+ Mbps, Unlimited Data)

$86.1 ISK 10.7K

$24.11 COP 84.1K

257.15%

Gym Membership (Monthly)

$64.7 ISK 8,053

$25.31 COP 88.3K

155.59%

Tennis Court (1 Hour on Weekend)

$19.14 COP 66.8K

Cinema Ticket

$16.66 ISK 2,074

$4.10 COP 14.3K

306.34%

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

$325 ISK 40.5K

$312 COP 1.1M

4.33%

International Primary School, 1 Child (Yearly)

$30.6K ISK 3.8M

$5,993 COP 20.9M

410.27%

Jeans (Levis 501 Or Similar)

$119 ISK 14.8K

$58.0 COP 202.6K

105.05%

Summer Dress (H&M, Zara, etc)

$62.5 ISK 7,778

$32.56 COP 113.6K

91.86%

Sport Shoes (Adidas, Nike)

$119 ISK 14.8K

$99.6 COP 347.7K

19.52%

Men's Leather Business Shoes

$266 ISK 33.1K

$109 COP 378.8K

145.14%

1-bedroom Apartment, City Center (Monthly)

$2,423 ISK 301.6K

$482 COP 1.7M

402.35%

1-bedroom Apartment, Outside City Center (Monthly)

$2,037 ISK 253.6K

$379 COP 1.3M

436.75%

3-bedroom Apartment, City Center (Monthly)

$3,250 ISK 404.7K

$837 COP 2.9M

288.12%

3-bedroom Apartment, Outside City Center (Monthly)

$2,547 ISK 317.0K

$723 COP 2.5M

252.17%

Buy Apartment in City Center (m2)

$6,850 ISK 852.8K

$2,840 COP 9.9M

141.21%

Buy Apartment Outside City Center (m2)

$6,826 ISK 849.8K

$1,223 COP 4.3M

458.07%

Average Monthly Net Salary (After Tax)

$4,665 ISK 580.8K

$541 COP 1.9M

762.45%

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: June 7, 2026

Last update for Medellin: June 8, 2026

Cost Breakdown

A central one-bedroom costs $2,423 in Hafnarfjordur versus $482 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 762% 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: $595 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 260% 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 $5,492 per month in Hafnarfjordur and $1,525 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 $3,661 in Hafnarfjordur and $1,017 in Medellin. The difference isn't just one category – it shows up across housing, food, transport, and services.

Public transport costs about 101% 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 $1,017, than in Hafnarfjordur at $3,661. 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 $1,017 versus $3,661 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.