Last update: Oct 2026
Cost of Living Comparison Between Iceland and Medellin
For one person, living is cheaper in Medellin: $1,589 a month against $3,841 in Iceland, rent and utilities included – about $27,000 less a year. Rent and utilities account for most of the difference.
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Iceland Living Index185Cost of Living Index in IcelandLearn more -
Medellin Living Index77Cost of Living Index in MedellinLearn more
😐 Solo nomad: Iceland is 114.3% more expensive than Medellin without rent, and 141.7% more expensive with rent.
😐 Family of 3: Iceland is 126.4% more expensive than Medellin without rent, and 124.9% more expensive with rent.
🍽 Eating Out
Iceland
Medellin
Difference
Meal at Budget Restaurant
$27.37 ISK 3,337
$8.01 COP 25.5K
241.70%
Three-Course Dinner for Two, Mid-Range
$125 ISK 15.2K
$46.55 COP 148.3K
168.23%
Fast Food Meal (McDonalds, etc)
$24.08 ISK 2,937
$9.43 COP 30.1K
155.36%
Cappuccino
$6.19 ISK 755
$2.91 COP 9,277
112.71%
Coke/Pepsi/Fanta/Sprite (0.33 liter bottle)
$3.15 ISK 384
$1.75 COP 5,585
80.00%
Water (0.33 liter bottle)
$2.99 ISK 365
$1.32 COP 4,218
126.52%
Local Beer (0.5 liter draught)
$12.47 ISK 1,521
$3.13 COP 9,969
298.40%
Imported Beer (0.33 liter bottle)
$12.50 ISK 1,524
$5.55 COP 17.7K
125.23%
🛒 Groceries & Markets
Iceland
Medellin
Difference
Milk (1 liter)
$2.11 ISK 258
$1.41 COP 4,495
49.65%
White Bread (500g)
$4.09 ISK 499
$2.44 COP 7,777
67.62%
Rice (white) (1kg)
$3.45 ISK 421
$1.63 COP 5,191
111.66%
Eggs
$7.23 ISK 882
$2.82 COP 8,990
156.38%
Local Cheese (1kg)
$20.83 ISK 2,541
$9.69 COP 30.9K
114.96%
Chicken Fillets (1kg)
$24.61 ISK 3,001
$9.32 COP 29.7K
164.06%
Beef Round Steak (1kg)
$42.36 ISK 5,166
$13.46 COP 42.9K
214.71%
Apples (1kg)
$3.17 ISK 387
$4.00 COP 12.8K
-20.75%
Banana (1kg)
$2.72 ISK 332
$1.48 COP 4,719
83.78%
Oranges (1kg)
$3.20 ISK 390
$2.12 COP 6,768
50.94%
Tomato (1kg)
$5.94 ISK 724
$2.25 COP 7,178
164.00%
Potato (1kg)
$3.96 ISK 483
$1.91 COP 6,092
107.33%
Onion (1kg)
$1.85 ISK 226
$1.62 COP 5,160
14.20%
Lettuce (1 head)
$3.62 ISK 441
$1.15 COP 3,658
214.78%
Water (1.5 liter bottle)
$1.93 ISK 236
$1.26 COP 4,021
53.17%
Cigarettes 20 Pack (Marlboro, Camel)
$14.12 ISK 1,721
$3.82 COP 12.2K
269.63%
Wine (Bottle)
$23.36 ISK 2,849
$13.11 COP 41.8K
78.18%
Local Beer (0.5 liter bottle)
$3.72 ISK 454
$1.60 COP 5,083
132.50%
Imported Beer (0.33 liter bottle)
$3.25 ISK 396
$2.26 COP 7,188
43.81%
🚌 Getting Around
Iceland
Medellin
Difference
One-way Ticket (Public Transport)
$5.54 ISK 676
$1.17 COP 3,731
373.50%
Public Transport Monthly Pass (Regular Price)
$92.7 ISK 11.3K
$75.0 COP 239.0K
23.55%
Taxi Start (Normal Tariff)
$6.87 ISK 838
$1.27 COP 4,056
440.94%
Taxi (Normal Tariff) (1km)
$2.90 ISK 354
$2.05 COP 6,531
41.46%
Taxi 1hour Waiting (Normal Tariff)
$81.6 ISK 9,947
$8.20 COP 26.1K
894.63%
Gasoline (1 liter)
$2.36 ISK 288
$1.27 COP 4,046
85.83%
Midsize Hatchback 1.4l (Volkswagen Golf, Toyota Prius, Honda Civic, etc)
$50.2K ISK 6.1M
$26.8K COP 85.3M
87.59%
Compact Sedan 1.6l (Toyota Corolla, Mazda3, Kia K4, Hyundai Elantra, etc)
$53.5K ISK 6.5M
$34.4K COP 109.6M
55.61%
🧾 Monthly Utilities & Internet
Iceland
Medellin
Difference
Utilities for 2 People in 2-bedroom Apartment (Heating, Electricity, Gas, Water, Garbage) (85m2)
$96.5 ISK 11.8K
$162 COP 516.9K
-40.50%
SIM Card Monthly Plan (Calls and 10GB+ Data)
$30.37 ISK 3,704
$13.12 COP 41.8K
131.48%
Internet (50+ Mbps, Unlimited Data)
$88.0 ISK 10.7K
$28.09 COP 89.5K
213.10%
🎉 Sport & Entertainment
Iceland
Medellin
Difference
Gym Membership (Monthly)
$89.8 ISK 11.0K
$44.33 COP 141.2K
102.66%
Tennis Court (1 Hour on Weekend)
$50.7 ISK 6,183
$16.33 COP 52.0K
210.47%
Cinema Ticket
$18.98 ISK 2,314
$6.09 COP 19.4K
211.66%
🧸 Childcare & Education
Iceland
Medellin
Difference
Preschool or Kindergarten, Full Day, Private, 1 Child (Monthly)
$1,053 ISK 128.4K
$764 COP 2.4M
37.81%
International Primary School, 1 Child (Yearly)
$30.4K ISK 3.7M
$8,904 COP 28.4M
241.58%
👕👟 Clothing & Footwear
Iceland
Medellin
Difference
Jeans (Levis 501 Or Similar)
$154 ISK 18.8K
$85.0 COP 270.8K
81.79%
Summer Dress (H&M, Zara, etc)
$48.13 ISK 5,869
$57.5 COP 183.2K
-16.28%
Sport Shoes (Adidas, Nike)
$175 ISK 21.4K
$132 COP 419.8K
33.08%
Men's Leather Business Shoes
$231 ISK 28.2K
$95.8 COP 305.1K
141.45%
🏠 Accommodation & Living
Iceland
Medellin
Difference
1-bedroom Apartment, City Center (Monthly)
$2,476 ISK 301.9K
$1,028 COP 3.3M
140.79%
1-bedroom Apartment, Outside City Center (Monthly)
$1,968 ISK 240.0K
$604 COP 1.9M
225.58%
3-bedroom Apartment, City Center (Monthly)
$3,333 ISK 406.4K
$1,802 COP 5.7M
84.94%
3-bedroom Apartment, Outside City Center (Monthly)
$2,708 ISK 330.2K
$993 COP 3.2M
172.82%
Buy Apartment in City Center (m2)
$7,695 ISK 938.4K
$3,921 COP 12.5M
96.26%
Buy Apartment Outside City Center (m2)
$6,295 ISK 767.7K
$1,639 COP 5.2M
284.19%
💵 Salaries & Financials
Iceland
Medellin
Difference
Average Monthly Net Salary (After Tax)
$4,795 ISK 584.8K
$626 COP 2.0M
665.89%
20-Year Fixed Mortgage Interest Rate (Annual %)
9.29
10.94
-15.08%
CityCost data is based on AI and user input – minor inaccuracies may occur.
Last update for Iceland: October 3, 2026
Last update for Medellin: October 6, 2026
Monthly budget structure
Share of the monthly basket for one person, rent included.
Share of the monthly basket for a family of three, rent included.
Accommodation & Living
Iceland $2K 51.6%
Medellin $604 38.3% 69.3% $1.4K
Groceries & Markets
Iceland $617 16.2%
Medellin $288 18.3% 53.3% $329
Eating Out
Iceland $477 12.5%
Medellin $166 10.6% 65.2% $311
Clothing & Footwear
Iceland $274 7.2%
Medellin $166 10.6% 39.3% $108
Monthly Utilities & Internet
Iceland $215 5.6%
Medellin $203 12.9% 5.3% $11
Getting Around
Iceland $136 3.6%
Medellin $91 5.8% 33.1% $45
Sport & Entertainment
Iceland $128 3.4%
Medellin $57 3.6% 55.8% $71
Accommodation & Living
Iceland $2.7K 37.8%
Medellin $993 31.9% 63.3% $1.7K
Groceries & Markets
Iceland $1.4K 20.1%
Medellin $664 21.3% 53.8% $772
Eating Out
Iceland $1.6K 22%
Medellin $560 18% 64.4% $1K
Clothing & Footwear
Iceland $609 8.5%
Medellin $370 11.9% 39.3% $239
Monthly Utilities & Internet
Iceland $245 3.4%
Medellin $217 7% 11.7% $29
Getting Around
Iceland $284 4%
Medellin $185 5.9% 34.8% $99
Sport & Entertainment
Iceland $306 4.3%
Medellin $129 4.2% 57.8% $177
Good to know
🇮🇸 Iceland
🇨🇴 Medellin
Weather
Population
364,260
2,486,723
Exchange rates and currency converter
On the map
Lowest
Highest
Between locations
- Iceland Medellin 7,690 km ≈ 10 h nonstop flight
From you
- Iceland
- 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
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