Cost of Living Comparison Between Medellin and Bakkafjordur Cost of Living Comparison Between Medellin and Bakkafjordur

Monthly Cost of Living

A single person spends $1,017 per month in Medellin vs $243 in Bakkafjordur, rent included.

A couple spends around $1,602 per month in Medellin vs $415 in Bakkafjordur, rent included.

A family of three spends $2,188 per month in Medellin vs $586 in Bakkafjordur, rent included.

Medellin costs about 318% more than Bakkafjordur, driven mainly by Clothing & Footwear.

Both Medellin and Bakkafjordur are more affordable than the global median – Medellin 24% lower, Bakkafjordur 82% lower.

Meal at Budget Restaurant

$5.95 COP 20.8K

Three-Course Dinner for Two, Mid-Range

$33.33 COP 116.3K

Fast Food Meal (McDonalds, etc)

$7.23 COP 25.2K

Cappuccino

$1.63 COP 5,687

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

$1.09 COP 3,821

Water (0.33 liter bottle)

$0.73 COP 2,548

Local Beer (0.5 liter draught)

$1.74 COP 6,065

Imported Beer (0.33 liter bottle)

$3.23 COP 11.3K

Milk (1 liter)

$1.05 COP 3,662

White Bread (500g)

$1.29 COP 4,515

$2.26 ISK 281

-42.92%

Rice (white) (1kg)

$1.32 COP 4,617

$2.23 ISK 278

-40.81%

Eggs

$2.27 COP 7,927

$4.82 ISK 600

-52.90%

Local Cheese (1kg)

$4.35 COP 15.2K

$8.68 ISK 1,081

-49.88%

Chicken Fillets (1kg)

$5.88 COP 20.5K

$11.15 ISK 1,389

-47.26%

Beef Round Steak (1kg)

$8.61 COP 30.0K

$10.92 ISK 1,360

-21.15%

Apples (1kg)

$2.25 COP 7,844

$2.23 ISK 278

0.90%

Banana (1kg)

$1.07 COP 3,733

$2.18 ISK 271

-50.92%

Oranges (1kg)

$1.52 COP 5,322

$2.25 ISK 280

-32.44%

Tomato (1kg)

$1.42 COP 4,964

$2.16 ISK 269

-34.26%

Potato (1kg)

$1.17 COP 4,084

$2.22 ISK 276

-47.30%

Onion (1kg)

$1.17 COP 4,077

$2.23 ISK 277

-47.53%

Lettuce (1 head)

$0.89 COP 3,096

$0.98 ISK 121

-9.18%

Water (1.5 liter bottle)

$0.90 COP 3,146

$2.02 ISK 252

-55.45%

Cigarettes 20 Pack (Marlboro, Camel)

$2.25 COP 7,837

Wine (Bottle)

$11.04 COP 38.5K

Local Beer (0.5 liter bottle)

$1.14 COP 3,977

Imported Beer (0.33 liter bottle)

$2.38 COP 8,301

One-way Ticket (Public Transport)

$0.84 COP 2,916

Public Transport Monthly Pass (Regular Price)

$41.95 COP 146.4K

Taxi Start (Normal Tariff)

$1.41 COP 4,912

Taxi (Normal Tariff) (1km)

$1.90 COP 6,634

Taxi 1hour Waiting (Normal Tariff)

$7.75 COP 27.0K

Gasoline (1 liter)

$1.01 COP 3,509

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

$17.6K COP 61.4M

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

$26.5K COP 92.5M

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

$83.7 COP 292.1K

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

$9.45 COP 33.0K

Internet (50+ Mbps, Unlimited Data)

$24.11 COP 84.1K

Gym Membership (Monthly)

$25.31 COP 88.3K

Tennis Court (1 Hour on Weekend)

$19.14 COP 66.8K

Cinema Ticket

$4.10 COP 14.3K

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

$312 COP 1.1M

International Primary School, 1 Child (Yearly)

$5,993 COP 20.9M

Jeans (Levis 501 Or Similar)

$58.0 COP 202.6K

Summer Dress (H&M, Zara, etc)

$32.56 COP 113.6K

Sport Shoes (Adidas, Nike)

$99.6 COP 347.7K

Men's Leather Business Shoes

$109 COP 378.8K

1-bedroom Apartment, City Center (Monthly)

$482 COP 1.7M

1-bedroom Apartment, Outside City Center (Monthly)

$379 COP 1.3M

3-bedroom Apartment, City Center (Monthly)

$837 COP 2.9M

3-bedroom Apartment, Outside City Center (Monthly)

$723 COP 2.5M

Buy Apartment in City Center (m2)

$2,840 COP 9.9M

Buy Apartment Outside City Center (m2)

$1,223 COP 4.3M

Average Monthly Net Salary (After Tax)

$541 COP 1.9M

$5,815 ISK 724.0K

-90.70%

20-Year Fixed Mortgage Interest Rate (Annual %)

13.43

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

Last update for Medellin: June 8, 2026

Last update for Bakkafjordur: June 7, 2026

Cost Breakdown

Salaries run about 975% higher in Bakkafjordur, which reinforces the cost advantage – you earn more and spend less. Purchasing power leans clearly in its favor.

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

Medellin vs Bakkafjordur: Cost of Living - Frequently Asked Questions

Medellin costs about 318% more than Bakkafjordur, with the gap driven mainly by Clothing & Footwear. That's enough to noticeably affect everyday spending and lifestyle for anyone choosing between the two.

For a comfortable life, plan on about $1,525 per month in Medellin and $365 in Bakkafjordur. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Monthly expenses with rent come to $1,017 in Medellin and $243 in Bakkafjordur. The difference isn't just one category – it shows up across housing, food, transport, and services.

Interestingly, groceries are about 31% cheaper in Medellin – one category where the pricier city actually offers better value, probably thanks to stronger retail competition or local farming.

A $1,000 monthly budget goes further in Bakkafjordur, where all-in costs run around $243, than in Medellin at $1,017. In Bakkafjordur it covers expenses comfortably, while in Medellin it requires careful planning or may not stretch far enough.

For digital nomads, it depends on budget. Bakkafjordur costs $243 versus $1,017 in Medellin. 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 Bakkafjordur. If higher salaries, better infrastructure, or specific career opportunities are the priority, Medellin makes more sense. Both are solid long-term options with distinct trade-offs.