Last update: Oct 2026

Cost of Living Comparison Between Medellin and Iceland

Name: Iceland
Address: IS

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.

77

Cost of Living Index in Medellin
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Medellin Living Index
185

Cost of Living Index in Iceland
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Iceland Living Index

Jump to prices

Medellin

🇨🇴 Colombia

$1,589

/mo nomad

🇮🇸 Iceland

$3,841

/mo nomad

🙂 Solo nomad: Medellin is 53.3% cheaper than Iceland without rent, and 58.6% cheaper with rent.

🙂 Family of 3: Medellin is 55.8% cheaper than Iceland without rent, and 55.5% cheaper with rent.

Meal at Budget Restaurant

$8.01 COP 25.5K

$27.37 ISK 3,337

-70.73%

Three-Course Dinner for Two, Mid-Range

$46.55 COP 148.3K

$125 ISK 15.2K

-62.72%

Fast Food Meal (McDonalds, etc)

$9.43 COP 30.1K

$24.08 ISK 2,937

-60.84%

Cappuccino

$2.91 COP 9,277

$6.19 ISK 755

-52.99%

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

$1.75 COP 5,585

$3.15 ISK 384

-44.44%

Water (0.33 liter bottle)

$1.32 COP 4,218

$2.99 ISK 365

-55.85%

Local Beer (0.5 liter draught)

$3.13 COP 9,969

$12.47 ISK 1,521

-74.90%

Imported Beer (0.33 liter bottle)

$5.55 COP 17.7K

$12.50 ISK 1,524

-55.60%

Milk (1 liter)

$1.41 COP 4,495

$2.11 ISK 258

-33.18%

White Bread (500g)

$2.44 COP 7,777

$4.09 ISK 499

-40.34%

Rice (white) (1kg)

$1.63 COP 5,191

$3.45 ISK 421

-52.75%

Eggs

$2.82 COP 8,990

$7.23 ISK 882

-61.00%

Local Cheese (1kg)

$9.69 COP 30.9K

$20.83 ISK 2,541

-53.48%

Chicken Fillets (1kg)

$9.32 COP 29.7K

$24.61 ISK 3,001

-62.13%

Beef Round Steak (1kg)

$13.46 COP 42.9K

$42.36 ISK 5,166

-68.22%

Apples (1kg)

$4.00 COP 12.8K

$3.17 ISK 387

26.18%

Banana (1kg)

$1.48 COP 4,719

$2.72 ISK 332

-45.59%

Oranges (1kg)

$2.12 COP 6,768

$3.20 ISK 390

-33.75%

Tomato (1kg)

$2.25 COP 7,178

$5.94 ISK 724

-62.12%

Potato (1kg)

$1.91 COP 6,092

$3.96 ISK 483

-51.77%

Onion (1kg)

$1.62 COP 5,160

$1.85 ISK 226

-12.43%

Lettuce (1 head)

$1.15 COP 3,658

$3.62 ISK 441

-68.23%

Water (1.5 liter bottle)

$1.26 COP 4,021

$1.93 ISK 236

-34.72%

Cigarettes 20 Pack (Marlboro, Camel)

$3.82 COP 12.2K

$14.12 ISK 1,721

-72.95%

Wine (Bottle)

$13.11 COP 41.8K

$23.36 ISK 2,849

-43.88%

Local Beer (0.5 liter bottle)

$1.60 COP 5,083

$3.72 ISK 454

-56.99%

Imported Beer (0.33 liter bottle)

$2.26 COP 7,188

$3.25 ISK 396

-30.46%

One-way Ticket (Public Transport)

$1.17 COP 3,731

$5.54 ISK 676

-78.88%

Public Transport Monthly Pass (Regular Price)

$75.0 COP 239.0K

$92.7 ISK 11.3K

-19.06%

Taxi Start (Normal Tariff)

$1.27 COP 4,056

$6.87 ISK 838

-81.51%

Taxi (Normal Tariff) (1km)

$2.05 COP 6,531

$2.90 ISK 354

-29.31%

Taxi 1hour Waiting (Normal Tariff)

$8.20 COP 26.1K

$81.6 ISK 9,947

-89.95%

Gasoline (1 liter)

$1.27 COP 4,046

$2.36 ISK 288

-46.19%

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

$26.8K COP 85.3M

$50.2K ISK 6.1M

-46.69%

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

$34.4K COP 109.6M

$53.5K ISK 6.5M

-35.74%

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

$162 COP 516.9K

$96.5 ISK 11.8K

68.06%

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

$13.12 COP 41.8K

$30.37 ISK 3,704

-56.80%

Internet (50+ Mbps, Unlimited Data)

$28.09 COP 89.5K

$88.0 ISK 10.7K

-68.06%

Gym Membership (Monthly)

$44.33 COP 141.2K

$89.8 ISK 11.0K

-50.66%

Tennis Court (1 Hour on Weekend)

$16.33 COP 52.0K

$50.7 ISK 6,183

-67.79%

Cinema Ticket

$6.09 COP 19.4K

$18.98 ISK 2,314

-67.91%

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

$764 COP 2.4M

$1,053 ISK 128.4K

-27.43%

International Primary School, 1 Child (Yearly)

$8,904 COP 28.4M

$30.4K ISK 3.7M

-70.72%

Jeans (Levis 501 Or Similar)

$85.0 COP 270.8K

$154 ISK 18.8K

-44.99%

Summer Dress (H&M, Zara, etc)

$57.5 COP 183.2K

$48.13 ISK 5,869

19.45%

Sport Shoes (Adidas, Nike)

$132 COP 419.8K

$175 ISK 21.4K

-24.86%

Men's Leather Business Shoes

$95.8 COP 305.1K

$231 ISK 28.2K

-58.58%

1-bedroom Apartment, City Center (Monthly)

$1,028 COP 3.3M

$2,476 ISK 301.9K

-58.47%

1-bedroom Apartment, Outside City Center (Monthly)

$604 COP 1.9M

$1,968 ISK 240.0K

-69.29%

3-bedroom Apartment, City Center (Monthly)

$1,802 COP 5.7M

$3,333 ISK 406.4K

-45.93%

3-bedroom Apartment, Outside City Center (Monthly)

$993 COP 3.2M

$2,708 ISK 330.2K

-63.35%

Buy Apartment in City Center (m2)

$3,921 COP 12.5M

$7,695 ISK 938.4K

-49.05%

Buy Apartment Outside City Center (m2)

$1,639 COP 5.2M

$6,295 ISK 767.7K

-73.97%

Average Monthly Net Salary (After Tax)

$626 COP 2.0M

$4,795 ISK 584.8K

-86.94%

20-Year Fixed Mortgage Interest Rate (Annual %)

10.94

9.29

17.76%

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

Last update for Medellin: October 6, 2026

Last update for Iceland: October 3, 2026

Monthly budget structure

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

Accommodation & Living

Medellin

$604 38.3%

Iceland

$2K 51.6% 226% $1.4K

Groceries & Markets

Medellin

$288 18.3%

Iceland

$617 16.2% 114% $329

Monthly Utilities & Internet

Medellin

$203 12.9%

Iceland

$215 5.6% 5.6% $11

Clothing & Footwear

Medellin

$166 10.6%

Iceland

$274 7.2% 64.7% $108

Eating Out

Medellin

$166 10.6%

Iceland

$477 12.5% 187% $311

Getting Around

Medellin

$91 5.8%

Iceland

$136 3.6% 49.4% $45

Sport & Entertainment

Medellin

$57 3.6%

Iceland

$128 3.4% 126% $71

Good to know

🇨🇴 Medellin

🇮🇸 Iceland

🕒 Local time

08:02 8:02 AM

13:02 1:02 PM

5 h ahead of Medellin

🌤 Weather

👥 Population

2,486,723

364,260

💱 Currency

Colombian Peso COP $

Icelandic Króna ISK kr

📈 Exchange rate

10,000 COP = 3.14 USD

10,000 COP = 2.8 EUR

1,000 ISK = 8.2 USD

1,000 ISK = 7.32 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 10, 2026: 1 USD = 3,187 COP (10,000 COP = 3.14 USD). 1 EUR = 3,571 COP (10,000 COP = 2.8 EUR).

Icelandic Króna exchange rates as of October 10, 2026: 1 USD = 122 ISK (1,000 ISK = 8.2 USD). 1 EUR = 137 ISK (1,000 ISK = 7.32 EUR).

USD to COP in detail →

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Medellin Iceland 7,690 km ≈ 10 h nonstop flight

From you

Medellin
Iceland

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 other spots: cost of living compared

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