Last update: Oct 2026

Cost of Living Comparison Between Hafnarfjordur and Medellin

For one person, living is cheaper in Medellin: $1,639 a month against $3,853 in Hafnarfjordur, rent and utilities included – about $26,600 less a year. Rent and utilities account for most of the difference.

184

Cost of Living Index in Hafnarfjordur
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Hafnarfjordur Living Index
79

Cost of Living Index in Medellin
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Medellin Living Index

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Hafnarfjordur

🇮🇸 Iceland

$3,853

/mo nomad

Medellin

🇨🇴 Colombia

$1,639

/mo nomad

Monthly Cost of Living

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

A single person spends $3,853 per month in Hafnarfjordur vs $1,639 in Medellin, rent included.

Hafnarfjordur $3,853
Medellin $1,639

A couple spends around $5,410 per month in Hafnarfjordur vs $2,413 in Medellin, rent included.

Hafnarfjordur $5,410
Medellin $2,413

A family of three spends $6,967 per month in Hafnarfjordur vs $3,186 in Medellin, rent included.

Hafnarfjordur $6,967
Medellin $3,186

Hafnarfjordur costs about 135% more than Medellin, and outside of rent the biggest gap is in eating out.

Both Hafnarfjordur and Medellin sit above the global median – Hafnarfjordur by 183%, Medellin by 20%.

Meal at Budget Restaurant

$31.04 ISK 3,768

$8.09 COP 26.1K

283.68%

Three-Course Dinner for Two, Mid-Range

$125 ISK 15.1K

$47.05 COP 151.9K

165.19%

Fast Food Meal (McDonalds, etc)

$16.40 ISK 1,991

$9.50 COP 30.7K

72.63%

Cappuccino

$6.71 ISK 814

$3.01 COP 9,735

122.92%

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

$3.33 ISK 405

$1.80 COP 5,809

85.00%

Water (0.33 liter bottle)

$3.14 ISK 382

$1.41 COP 4,561

122.70%

Local Beer (0.5 liter draught)

$14.02 ISK 1,703

$3.18 COP 10.3K

340.88%

Imported Beer (0.33 liter bottle)

$12.11 ISK 1,470

$5.75 COP 18.6K

110.61%

Milk (1 liter)

$1.67 ISK 203

$1.51 COP 4,876

10.60%

White Bread (500g)

$4.21 ISK 511

$2.38 COP 7,678

76.89%

Rice (white) (1kg)

$3.71 ISK 450

$1.77 COP 5,720

109.60%

Eggs

$7.26 ISK 881

$2.89 COP 9,333

151.21%

Local Cheese (1kg)

$21.51 ISK 2,611

$10.19 COP 32.9K

111.09%

Chicken Fillets (1kg)

$24.40 ISK 2,962

$9.87 COP 31.9K

147.21%

Beef Round Steak (1kg)

$41.76 ISK 5,070

$13.99 COP 45.2K

198.50%

Apples (1kg)

$3.24 ISK 394

$3.97 COP 12.8K

-18.39%

Banana (1kg)

$2.48 ISK 301

$1.55 COP 5,012

60.00%

Oranges (1kg)

$3.19 ISK 388

$2.18 COP 7,048

46.33%

Tomato (1kg)

$6.41 ISK 779

$2.18 COP 7,051

194.04%

Potato (1kg)

$3.93 ISK 477

$1.96 COP 6,337

100.51%

Onion (1kg)

$1.64 ISK 200

$1.59 COP 5,132

3.14%

Lettuce (1 head)

$3.69 ISK 448

$1.15 COP 3,699

220.87%

Water (1.5 liter bottle)

$1.82 ISK 221

$1.24 COP 4,014

46.77%

Cigarettes 20 Pack (Marlboro, Camel)

$14.04 ISK 1,705

$3.96 COP 12.8K

254.55%

Wine (Bottle)

$24.05 ISK 2,920

$13.68 COP 44.2K

75.80%

Local Beer (0.5 liter bottle)

$3.53 ISK 428

$1.66 COP 5,359

112.65%

Imported Beer (0.33 liter bottle)

$3.38 ISK 411

$2.26 COP 7,291

49.56%

One-way Ticket (Public Transport)

$5.10 ISK 620

$1.17 COP 3,771

335.90%

Public Transport Monthly Pass (Regular Price)

$85.0 ISK 10.3K

$77.4 COP 249.8K

9.86%

Taxi Start (Normal Tariff)

$6.92 ISK 840

$1.27 COP 4,094

444.88%

Taxi (Normal Tariff) (1km)

$2.84 ISK 345

$2.05 COP 6,612

38.54%

Taxi 1hour Waiting (Normal Tariff)

$80.8 ISK 9,811

$8.55 COP 27.6K

845.15%

Gasoline (1 liter)

$2.00 ISK 243

$1.35 COP 4,349

48.15%

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

$68.7K ISK 8.3M

$34.1K COP 110.0M

101.76%

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

$55.8K ISK 6.8M

$34.7K COP 111.9M

60.83%

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

$69.4 ISK 8,419

$170 COP 547.8K

-59.12%

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

$32.65 ISK 3,964

$13.55 COP 43.8K

140.96%

Internet (50+ Mbps, Unlimited Data)

$85.0 ISK 10.3K

$28.07 COP 90.6K

202.85%

Gym Membership (Monthly)

$65.1 ISK 7,900

$43.70 COP 141.1K

48.90%

Tennis Court (1 Hour on Weekend)

$17.19 COP 55.5K

Cinema Ticket

$17.08 ISK 2,073

$6.91 COP 22.3K

147.18%

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

$1,172 ISK 142.3K

$797 COP 2.6M

47.12%

International Primary School, 1 Child (Yearly)

$25.9K ISK 3.1M

$9,112 COP 29.4M

183.86%

Jeans (Levis 501 Or Similar)

$125 ISK 15.1K

$84.7 COP 273.5K

47.21%

Summer Dress (H&M, Zara, etc)

$67.1 ISK 8,150

$58.0 COP 187.2K

15.84%

Sport Shoes (Adidas, Nike)

$124 ISK 15.1K

$135 COP 435.8K

-7.78%

Men's Leather Business Shoes

$246 ISK 29.9K

$97.9 COP 316.0K

151.74%

1-bedroom Apartment, City Center (Monthly)

$2,496 ISK 303.1K

$1,208 COP 3.9M

106.69%

1-bedroom Apartment, Outside City Center (Monthly)

$2,075 ISK 251.8K

$642 COP 2.1M

223.37%

3-bedroom Apartment, City Center (Monthly)

$3,232 ISK 392.3K

$2,028 COP 6.5M

59.39%

3-bedroom Apartment, Outside City Center (Monthly)

$2,670 ISK 324.2K

$1,012 COP 3.3M

163.91%

Buy Apartment in City Center (m2)

$7,011 ISK 851.1K

$4,170 COP 13.5M

68.11%

Buy Apartment Outside City Center (m2)

$7,014 ISK 851.6K

$1,910 COP 6.2M

267.19%

Average Monthly Net Salary (After Tax)

$4,674 ISK 567.4K

$657 COP 2.1M

611.24%

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 Hafnarfjordur: October 24, 2026

Last update for Medellin: October 25, 2026

Monthly budget structure

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

Accommodation & Living

Hafnarfjordur

$2.1K 53.8%

Medellin

$642 39.1% 69.1% $1.4K

Groceries & Markets

Hafnarfjordur

$615 16%

Medellin

$297 18.1% 51.7% $318

Eating Out

Hafnarfjordur

$498 12.9%

Medellin

$170 10.4% 66% $329

Clothing & Footwear

Hafnarfjordur

$253 6.6%

Medellin

$169 10.3% 33.3% $84

Monthly Utilities & Internet

Hafnarfjordur

$187 4.9%

Medellin

$211 12.9% 13% $24

Getting Around

Hafnarfjordur

$127 3.3%

Medellin

$94 5.7% 26.1% $33

Sport & Entertainment

Hafnarfjordur

$99 2.6%

Medellin

$58 3.5% 42% $42

Cost Breakdown

A central one-bedroom costs $2,496 in Hafnarfjordur versus $1,208 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 in Hafnarfjordur are about 7.1 times higher. Purchasing power depends on which expenses matter most to you.

A mid-range dinner for two costs $125 in Hafnarfjordur versus $47 in Medellin. Monthly groceries follow the same trend: $615 vs $297 – making Medellin the more affordable choice for daily food spending.

Good to know

🇮🇸 Hafnarfjordur

🇨🇴 Medellin

🕒 Local time

04:50 4:50 AM

23:50 11:50 PM

5 h behind Hafnarfjordur

🌤 Weather

👥 Population

31,525

2,486,723

💱 Currency

Icelandic Króna ISK kr

Colombian Peso COP $

📈 Exchange rate

1,000 ISK = 8.24 USD

1,000 ISK = 7.38 EUR

10,000 COP = 3.1 USD

10,000 COP = 2.77 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 November 2, 2026: 1 USD = 121 ISK (1,000 ISK = 8.24 USD). 1 EUR = 136 ISK (1,000 ISK = 7.38 EUR).

Colombian Peso exchange rates as of November 2, 2026: 1 USD = 3,229 COP (10,000 COP = 3.1 USD). 1 EUR = 3,605 COP (10,000 COP = 2.77 EUR).

USD to ISK in detail →

On the map

Lowest

Highest

Between locations

Hafnarfjordur Medellin 7,690 km ≈ 10 h nonstop flight

From you

Hafnarfjordur
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

Hafnarfjordur vs Medellin: Cost of Living - Frequently Asked Questions

Hafnarfjordur costs about 135% more than Medellin, and outside of rent the gap comes mainly from 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 $5,780 per month in Hafnarfjordur and $2,459 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: a one-bedroom in the center costs $1,208 there versus $2,496 in Hafnarfjordur.

Monthly expenses with rent come to $3,853 in Hafnarfjordur and $1,639 in Medellin. That makes Medellin about 57% cheaper.

Public transport costs about 9% 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 $1,639, than in Hafnarfjordur at $3,853. In Medellin it covers expenses comfortably, while in Hafnarfjordur it requires careful planning or may not stretch far enough.

Families tend to lean toward Medellin – lower housing and cheaper childcare make a real difference, especially on a single income or when paying for private education.

If budget matters most, go with Medellin. If higher salaries or specific career opportunities are the priority, Hafnarfjordur makes more sense. Both are solid long-term options with distinct trade-offs.