Cost of Living Comparison Between Keflavik and Mexico City Cost of Living Comparison Between Keflavik and Mexico City

Monthly Cost of Living

Monthly costs for one person with rent: $2,826 in Keflavik versus $1,447 in Mexico City.

Estimated couple costs with rent: $4,368 in Keflavik versus $2,310 in Mexico City.

Monthly costs for a family of three with rent: $5,910 in Keflavik versus $3,174 in Mexico City.

Living in Keflavik is roughly 95% more expensive than Mexico City, driven mainly by Groceries & Markets.

Both cities are pricier than the global median: Keflavik 110% above, Mexico City 8% above.

Meal at Budget Restaurant

$24.41 ISK 3,039

$12.98 MX$223

88.06%

Three-Course Dinner for Two, Mid-Range

$147 ISK 18.2K

$52.6 MX$903

178.56%

Fast Food Meal (McDonalds, etc)

$20.33 ISK 2,531

$9.43 MX$162

115.59%

Cappuccino

$3.94 ISK 491

$3.57 MX$61.3

10.36%

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

$3.13 ISK 390

$1.61 MX$27.55

94.41%

Water (0.33 liter bottle)

$2.53 ISK 314

$1.15 MX$19.81

120.00%

Local Beer (0.5 liter draught)

$8.12 ISK 1,011

$3.15 MX$54.0

157.78%

Imported Beer (0.33 liter bottle)

$8.23 ISK 1,024

$4.86 MX$83.4

69.34%

Milk (1 liter)

$1.93 ISK 241

$1.70 MX$29.17

13.53%

White Bread (500g)

$4.15 ISK 517

$2.64 MX$45.23

57.20%

Rice (white) (1kg)

$2.35 ISK 293

$1.90 MX$32.67

23.68%

Eggs

$6.18 ISK 769

$2.54 MX$43.62

143.31%

Local Cheese (1kg)

$18.22 ISK 2,268

$10.08 MX$173

80.75%

Chicken Fillets (1kg)

$23.63 ISK 2,942

$8.29 MX$142

185.04%

Beef Round Steak (1kg)

$43.19 ISK 5,377

$11.57 MX$199

273.29%

Apples (1kg)

$2.36 ISK 293

$3.03 MX$52.0

-22.11%

Banana (1kg)

$2.43 ISK 303

$1.71 MX$29.35

42.11%

Oranges (1kg)

$2.39 ISK 298

$2.05 MX$35.16

16.59%

Tomato (1kg)

$4.04 ISK 503

$2.06 MX$35.36

96.12%

Potato (1kg)

$3.04 ISK 378

$2.06 MX$35.43

47.57%

Onion (1kg)

$2.04 ISK 254

$2.17 MX$37.25

-5.99%

Lettuce (1 head)

$3.14 ISK 391

$1.40 MX$24.08

124.29%

Water (1.5 liter bottle)

$1.95 ISK 243

$1.12 MX$19.26

74.11%

Cigarettes 20 Pack (Marlboro, Camel)

$13.53 ISK 1,685

$4.29 MX$73.7

215.38%

Wine (Bottle)

$15.82 ISK 1,970

$15.41 MX$265

2.66%

Local Beer (0.5 liter bottle)

$3.75 ISK 466

$1.67 MX$28.74

124.55%

Imported Beer (0.33 liter bottle)

$2.74 ISK 341

$3.69 MX$63.3

-25.75%

One-way Ticket (Public Transport)

$3.57 ISK 444

$0.38 MX$6.55

839.47%

Public Transport Monthly Pass (Regular Price)

$75.1 ISK 9,355

$19.06 MX$327

294.23%

Taxi Start (Normal Tariff)

$6.45 ISK 804

$1.38 MX$23.70

367.39%

Taxi (Normal Tariff) (1km)

$2.30 ISK 286

$0.28 MX$4.74

721.43%

Taxi 1hour Waiting (Normal Tariff)

$85.4 ISK 10.6K

$5.42 MX$92.9

1476.38%

Gasoline (1 liter)

$2.47 ISK 308

$1.28 MX$21.98

92.97%

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

$47.1K ISK 5.9M

$19.0K MX$325.8K

148.41%

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

$52.8K ISK 6.6M

$23.5K MX$402.7K

124.89%

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

$86.3 ISK 10.7K

$41.02 MX$704

110.41%

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

$27.46 ISK 3,418

$26.92 MX$462

2.01%

Internet (50+ Mbps, Unlimited Data)

$85.8 ISK 10.7K

$29.69 MX$510

188.99%

Gym Membership (Monthly)

$52.3 MX$898

Tennis Court (1 Hour on Weekend)

$26.23 MX$450

Cinema Ticket

$17.45 ISK 2,173

$6.18 MX$106

182.36%

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

$318 ISK 39.5K

$427 MX$7,331

-25.66%

International Primary School, 1 Child (Yearly)

$30.2K ISK 3.8M

$10.7K MX$183.6K

182.06%

Jeans (Levis 501 Or Similar)

$140 ISK 17.4K

$56.8 MX$975

145.67%

Summer Dress (H&M, Zara, etc)

$62.6 ISK 7,790

$44.83 MX$769

39.57%

Sport Shoes (Adidas, Nike)

$185 ISK 23.1K

$105 MX$1,794

77.32%

Men's Leather Business Shoes

$184 ISK 22.9K

$106 MX$1,819

73.61%

1-bedroom Apartment, City Center (Monthly)

$1,877 ISK 233.6K

$995 MX$17.1K

88.68%

1-bedroom Apartment, Outside City Center (Monthly)

$1,344 ISK 167.3K

$621 MX$10.7K

116.31%

3-bedroom Apartment, City Center (Monthly)

$2,475 ISK 308.2K

$2,126 MX$36.5K

16.43%

3-bedroom Apartment, Outside City Center (Monthly)

$2,042 ISK 254.2K

$1,254 MX$21.5K

62.90%

Buy Apartment in City Center (m2)

$3,903 MX$67.0K

Buy Apartment Outside City Center (m2)

$2,096 MX$36.0K

Average Monthly Net Salary (After Tax)

$3,650 ISK 454.4K

$1,107 MX$19.0K

229.66%

20-Year Fixed Mortgage Interest Rate (Annual %)

9.63

11.34

-15.08%

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

Last update for Keflavik: June 8, 2026

Last update for Mexico City: June 7, 2026

Cost Breakdown

A one-bedroom apartment in the center runs $1,877 in Keflavik and $995 in Mexico City. Housing cost is often the main lever when comparing two cities.

Keflavik pays 230% more on average. The extra income cushions the higher costs, though housing choices and lifestyle decide how much of the gap is truly closed.

Dining out: $147 in Keflavik vs $53.0 in Mexico City for a mid-range dinner for two. Groceries echo the gap at $559 vs $288 per month, with Mexico City cheaper across the board.

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

Keflavik vs Mexico City: Cost of Living - Frequently Asked Questions

Mexico City wins on cost – living expenses run 95% lower than in Keflavik. Housing and daily spending are where you'll feel the difference most, making Mexico City the obvious pick if budget is a priority.

Keflavik pays 230% more on average, which matters when comparing affordability. Whether that higher income actually nets you more depends on your spending habits and housing choices.

Rent for a central apartment: $1,877 in Keflavik versus $995 in Mexico City. Housing is usually the single largest factor when comparing overall living costs between the two.

A monthly transit pass in Mexico City runs roughly 294% less than in Keflavik. Both cities have functional networks, but the price difference matters if you're watching your budget.

Childcare runs $318 in Keflavik versus $427 in Mexico City. Over years of preschool, even a modest monthly gap compounds into a major financial factor for families.

At $1,447 in Mexico City versus $2,826 in Keflavik, a $2,000 budget is realistic in Mexico City but tight or insufficient in Keflavik. The gap between the two cities makes Mexico City the clear choice for anyone on this budget.

Both work as nomad bases, but Mexico City delivers better value – similar infrastructure at $1,447 monthly. If stretching your runway or maximizing savings is the goal, the price difference makes Mexico City hard to pass up.

Safety-wise, Keflavik and Mexico City are on par. Petty crime is typical for cities this size, and most residents feel comfortable going about their daily routines in either place.

Expats usually find Mexico City gentler on the wallet – expenses run 95% less than in Keflavik. Beyond cost, consider language, visa policies, and how big the international community is in each city.