Last update: Oct 2026

Cost of Living Comparison Between Medellin and Grundarfjordur

For one person, living costs are similar in Medellin and in Grundarfjordur: $1,639 and $1,713 a month, rent and utilities included.

79

Cost of Living Index in Medellin
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Medellin Living Index
83

Cost of Living Index in Grundarfjordur
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Grundarfjordur Living Index

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Medellin

🇨🇴 Colombia

$1,639

/mo nomad

Grundarfjordur

🇮🇸 Iceland

$1,713

/mo nomad

Monthly Cost of Living

How much you'll spend in Medellin and in Grundarfjordur

Real prices from locals and on-the-ground checks – rent, groceries, transit and the daily extras. Here's what a month in Medellin and in Grundarfjordur actually costs, broken down by who's living it.

Monthly costs for one person with rent: $1,639 in Medellin versus $1,713 in Grundarfjordur.

Medellin $1,639
Grundarfjordur $1,713

Estimated couple costs with rent: $2,413 in Medellin versus $2,918 in Grundarfjordur.

Medellin $2,413
Grundarfjordur $2,918

Monthly costs for a family of three with rent: $3,186 in Medellin versus $4,122 in Grundarfjordur.

Medellin $3,186
Grundarfjordur $4,122

Living in Medellin costs roughly 4% less than in Grundarfjordur, and outside of rent the biggest gap is in eating out.

Both cities are pricier than the global median: Medellin 20% above, Grundarfjordur 26% above.

Meal at Budget Restaurant

$8.09 COP 25.4K

$30.53 ISK 3,720

-73.50%

Three-Course Dinner for Two, Mid-Range

$47.05 COP 148.0K

$124 ISK 15.1K

-62.09%

Fast Food Meal (McDonalds, etc)

$9.50 COP 29.9K

$27.06 ISK 3,298

-64.89%

Cappuccino

$3.01 COP 9,485

$6.61 ISK 805

-54.46%

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

$1.80 COP 5,660

$3.34 ISK 407

-46.11%

Water (0.33 liter bottle)

$1.41 COP 4,443

$3.03 ISK 370

-53.47%

Local Beer (0.5 liter draught)

$3.18 COP 9,990

$14.17 ISK 1,726

-77.56%

Imported Beer (0.33 liter bottle)

$5.75 COP 18.1K

$12.21 ISK 1,488

-52.91%

Milk (1 liter)

$1.51 COP 4,751

$2.09 ISK 255

-27.75%

White Bread (500g)

$2.38 COP 7,480

$4.11 ISK 501

-42.09%

Rice (white) (1kg)

$1.77 COP 5,573

$3.73 ISK 455

-52.55%

Eggs

$2.89 COP 9,093

$6.93 ISK 845

-58.30%

Local Cheese (1kg)

$10.19 COP 32.1K

$21.76 ISK 2,651

-53.17%

Chicken Fillets (1kg)

$9.87 COP 31.1K

$24.62 ISK 2,999

-59.91%

Beef Round Steak (1kg)

$13.99 COP 44.0K

$42.23 ISK 5,145

-66.87%

Apples (1kg)

$3.97 COP 12.5K

$3.31 ISK 403

19.94%

Banana (1kg)

$1.55 COP 4,883

$2.77 ISK 337

-44.04%

Oranges (1kg)

$2.18 COP 6,867

$3.16 ISK 385

-31.01%

Tomato (1kg)

$2.18 COP 6,870

$6.32 ISK 770

-65.51%

Potato (1kg)

$1.96 COP 6,174

$4.01 ISK 488

-51.12%

Onion (1kg)

$1.59 COP 5,000

$1.65 ISK 201

-3.64%

Lettuce (1 head)

$1.15 COP 3,604

$3.84 ISK 467

-70.05%

Water (1.5 liter bottle)

$1.24 COP 3,911

$1.77 ISK 216

-29.94%

Cigarettes 20 Pack (Marlboro, Camel)

$3.96 COP 12.5K

$14.16 ISK 1,725

-72.03%

Wine (Bottle)

$13.68 COP 43.0K

$23.44 ISK 2,856

-41.64%

Local Beer (0.5 liter bottle)

$1.66 COP 5,222

$3.69 ISK 450

-55.01%

Imported Beer (0.33 liter bottle)

$2.26 COP 7,104

$3.48 ISK 424

-35.06%

One-way Ticket (Public Transport)

$1.17 COP 3,674

Public Transport Monthly Pass (Regular Price)

$77.4 COP 243.4K

Taxi Start (Normal Tariff)

$1.27 COP 3,989

$6.59 ISK 802

-80.73%

Taxi (Normal Tariff) (1km)

$2.05 COP 6,442

$2.80 ISK 341

-26.79%

Taxi 1hour Waiting (Normal Tariff)

$8.55 COP 26.9K

$80.5 ISK 9,808

-89.38%

Gasoline (1 liter)

$1.35 COP 4,237

$2.10 ISK 256

-35.71%

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

$34.1K COP 107.2M

$68.8K ISK 8.4M

-50.46%

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

$34.7K COP 109.1M

$55.0K ISK 6.7M

-37.01%

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

$170 COP 533.7K

$97.0 ISK 11.8K

74.88%

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

$13.55 COP 42.6K

$32.92 ISK 4,011

-58.84%

Internet (50+ Mbps, Unlimited Data)

$28.07 COP 88.3K

$86.2 ISK 10.5K

-67.45%

Gym Membership (Monthly)

$43.70 COP 137.5K

Tennis Court (1 Hour on Weekend)

$17.19 COP 54.1K

Cinema Ticket

$6.91 COP 21.7K

$19.36 ISK 2,359

-64.31%

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

$797 COP 2.5M

$1,182 ISK 144.0K

-32.59%

International Primary School, 1 Child (Yearly)

$9,112 COP 28.7M

$26.3K ISK 3.2M

-65.40%

Jeans (Levis 501 Or Similar)

$84.7 COP 266.5K

$148 ISK 18.0K

-42.72%

Summer Dress (H&M, Zara, etc)

$58.0 COP 182.3K

$66.1 ISK 8,059

-12.37%

Sport Shoes (Adidas, Nike)

$135 COP 424.6K

$185 ISK 22.5K

-27.06%

Men's Leather Business Shoes

$97.9 COP 307.9K

$247 ISK 30.1K

-60.36%

1-bedroom Apartment, City Center (Monthly)

$1,208 COP 3.8M

1-bedroom Apartment, Outside City Center (Monthly)

$642 COP 2.0M

3-bedroom Apartment, City Center (Monthly)

$2,028 COP 6.4M

3-bedroom Apartment, Outside City Center (Monthly)

$1,012 COP 3.2M

Buy Apartment in City Center (m2)

$4,170 COP 13.1M

Buy Apartment Outside City Center (m2)

$1,910 COP 6.0M

$1,098 ISK 133.8K

74.02%

Average Monthly Net Salary (After Tax)

$657 COP 2.1M

20-Year Fixed Mortgage Interest Rate (Annual %)

10.94

8.81

24.18%

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

Last update for Medellin: October 25, 2026

Last update for Grundarfjordur: October 24, 2026

Monthly budget structure

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

Accommodation & Living

Medellin

$642 39.1%

Grundarfjordur

- * 0% 100%

Groceries & Markets

Medellin

$297 18.1%

Grundarfjordur

$621 36.3% 109% $324

Monthly Utilities & Internet

Medellin

$211 12.9%

Grundarfjordur

$216 12.6% 2.3% $4.9

Eating Out

Medellin

$170 10.4%

Grundarfjordur

$525 30.7% 210% $356

Clothing & Footwear

Medellin

$169 10.3%

Grundarfjordur

$291 17% 72% $122

Getting Around

Medellin

$94 5.7%

Grundarfjordur

$21 * 1.2% 78% $73

Sport & Entertainment

Medellin

$58 3.5%

Grundarfjordur

$39 * 2.3% 32.7% $19

Categories marked with * are only partly priced – their share counts the items that do have prices.

Cost Breakdown

Dining out: $47 in Medellin vs $124 in Grundarfjordur for a mid-range dinner for two. Groceries echo the gap at $297 vs $621 per month, with Medellin cheaper across the board.

Good to know

🇨🇴 Medellin

🇮🇸 Grundarfjordur

🕒 Local time

05:23 5:23 AM

10:23 10:23 AM

5 h ahead of Medellin

🌤 Weather

👥 Population

2,486,723

800

💱 Currency

Colombian Peso COP $

Icelandic Króna ISK kr

📈 Exchange rate

10,000 COP = 3.18 USD

10,000 COP = 2.86 EUR

1,000 ISK = 8.21 USD

1,000 ISK = 7.37 EUR

Exchange rates and currency converter

ISK, USD, EUR to COP – Colombian Peso Converter

🇺🇸 United States Dollar ($)

🇨🇴 Colombian Peso ($)

Colombian Peso exchange rates as of October 28, 2026: 1 USD = 3,146 COP (10,000 COP = 3.18 USD). 1 EUR = 3,501 COP (10,000 COP = 2.86 EUR).

Icelandic Króna exchange rates as of October 28, 2026: 1 USD = 122 ISK (1,000 ISK = 8.21 USD). 1 EUR = 136 ISK (1,000 ISK = 7.37 EUR).

USD to COP in detail →

On the map

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Between locations

Medellin Grundarfjordur 7,690 km ≈ 10 h nonstop flight

From you

Medellin
Grundarfjordur

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

Medellin vs Grundarfjordur: Cost of Living - Frequently Asked Questions

Medellin wins on cost – living expenses run 4% lower than in Grundarfjordur. Housing and daily spending are where you’ll feel the difference most, making Medellin the obvious pick if budget is a priority.

You’d need roughly $2,459 in Medellin and $2,570 in Grundarfjordur 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.

Supermarket bills run roughly 109% higher in Grundarfjordur. For households that cook at home regularly, that difference adds up over a month.

All in, you’ll spend $1,639 per month in Medellin versus $1,713 in Grundarfjordur – a 4% gap that adds up to real savings over time for anyone picking the cheaper option.

Either city works on $2,500 a month, though Medellin gives you more room to save. At this income level, the choice is more about lifestyle than financial pressure.

Both cities offer a good standard of living with different trade-offs. Neither is objectively better – the right pick depends on what matters most: affordability, career, cultural scene, or climate.