Cost of Living Comparison Between Medellin and Egilsstadir Cost of Living Comparison Between Medellin and Egilsstadir

Monthly Cost of Living

Monthly costs for one person with rent: $1,017 in Medellin versus $594 in Egilsstadir.

Estimated couple costs with rent: $1,602 in Medellin versus $1,003 in Egilsstadir.

Monthly costs for a family of three with rent: $2,188 in Medellin versus $1,413 in Egilsstadir.

Living in Medellin is roughly 71% more expensive than Egilsstadir, driven mainly by Groceries & Markets.

Both cities sit below the global median: Medellin 24% lower, Egilsstadir 56% 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

$1.68 ISK 210

-37.50%

White Bread (500g)

$1.29 COP 4,515

$2.73 ISK 339

-52.75%

Rice (white) (1kg)

$1.32 COP 4,617

$2.34 ISK 292

-43.59%

Eggs

$2.27 COP 7,927

$5.76 ISK 717

-60.59%

Local Cheese (1kg)

$4.35 COP 15.2K

$21.30 ISK 2,652

-79.58%

Chicken Fillets (1kg)

$5.88 COP 20.5K

$31.48 ISK 3,919

-81.32%

Beef Round Steak (1kg)

$8.61 COP 30.0K

$42.40 ISK 5,278

-79.69%

Apples (1kg)

$2.25 COP 7,844

$2.67 ISK 332

-15.73%

Banana (1kg)

$1.07 COP 3,733

$2.37 ISK 295

-54.85%

Oranges (1kg)

$1.52 COP 5,322

$2.39 ISK 298

-36.40%

Tomato (1kg)

$1.42 COP 4,964

$3.77 ISK 469

-62.33%

Potato (1kg)

$1.17 COP 4,084

$4.24 ISK 528

-72.41%

Onion (1kg)

$1.17 COP 4,077

$2.06 ISK 256

-43.20%

Lettuce (1 head)

$0.89 COP 3,096

$2.19 ISK 272

-59.36%

Water (1.5 liter bottle)

$0.90 COP 3,146

$2.22 ISK 277

-59.46%

Cigarettes 20 Pack (Marlboro, Camel)

$2.25 COP 7,837

Wine (Bottle)

$11.04 COP 38.5K

$21.50 ISK 2,677

-48.65%

Local Beer (0.5 liter bottle)

$1.14 COP 3,977

$3.85 ISK 480

-70.39%

Imported Beer (0.33 liter bottle)

$2.38 COP 8,301

$3.40 ISK 423

-30.00%

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

$2.59 ISK 323

-61.00%

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

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 Egilsstadir: June 6, 2026

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 Egilsstadir: Cost of Living - Frequently Asked Questions

Egilsstadir is cheaper overall, especially in Clothing & Footwear, Eating Out, Getting Around, Monthly Utilities & Internet, Sport & Entertainment. The 71% gap adds up to real monthly savings that compound significantly over time.

You'd need roughly $1,525 in Medellin and $891 in Egilsstadir to live well. The gap comes down to housing and overall price levels. Both cities are liveable on less, but these numbers represent actual comfort.

Shoppers in Medellin pay roughly 218% less for everyday groceries. It's an unusual reversal that partly offsets higher costs elsewhere.

All in, you'll spend $1,017 per month in Medellin versus $594 in Egilsstadir – a 71% gap that adds up to real savings over time for anyone picking the cheaper option.

At $594 in Egilsstadir versus $1,017 in Medellin, a $1,500 budget is realistic in Egilsstadir but tight or insufficient in Medellin. The gap between the two cities makes Egilsstadir the clear choice for anyone on this budget.

For families, Egilsstadir is more practical. Housing and childcare are both notably cheaper than in Medellin, and the savings on those two alone free up budget for education, activities, and family trips.

Safety-wise, Medellin and Egilsstadir 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 Egilsstadir gentler on the wallet – expenses run 71% less than in Medellin. Beyond cost, consider language, visa policies, and how big the international community is in each city.