Last update: Nov 2026

Cost of Living Comparison Between Medellin and Njardvik

For one person, living is cheaper in Medellin: $1,692 a month against $3,133 in Njardvik, rent and utilities included – about $17,300 less a year. Rent and utilities account for about half of the difference.

80

Cost of Living Index in Medellin
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Medellin Living Index
151

Cost of Living Index in Njardvik
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Njardvik Living Index

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Medellin

🇨🇴 Colombia

$1,692

/mo nomad

Njardvik

🇮🇸 Iceland

$3,133

/mo nomad

Monthly Cost of Living

How much you'll spend in Medellin and in Njardvik

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 Njardvik actually costs, broken down by who's living it.

A single person spends $1,692 per month in Medellin vs $3,133 in Njardvik, rent included.

Medellin $1,692
Njardvik $3,133

A couple spends around $2,471 per month in Medellin vs $4,864 in Njardvik, rent included.

Medellin $2,471
Njardvik $4,864

A family of three spends $3,249 per month in Medellin vs $6,596 in Njardvik, rent included.

Medellin $3,249
Njardvik $6,596

Medellin is about 46% cheaper than Njardvik, and outside of rent the biggest gap is in groceries.

Both Medellin and Njardvik sit above the global median – Medellin by 25%, Njardvik by 132%.

Meal at Budget Restaurant

$8.34 COP 27.0K

$24.20 ISK 2,940

-65.54%

Three-Course Dinner for Two, Mid-Range

$46.53 COP 150.9K

$98.4 ISK 12.0K

-52.70%

Fast Food Meal (McDonalds, etc)

$9.47 COP 30.7K

$16.27 ISK 1,977

-41.79%

Cappuccino

$3.13 COP 10.2K

$6.46 ISK 784

-51.55%

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

$1.77 COP 5,727

$1.61 ISK 195

9.94%

Water (0.33 liter bottle)

$1.42 COP 4,619

$2.41 ISK 292

-41.08%

Local Beer (0.5 liter draught)

$3.15 COP 10.2K

$10.53 ISK 1,280

-70.09%

Imported Beer (0.33 liter bottle)

$5.70 COP 18.5K

$12.43 ISK 1,510

-54.14%

Milk (1 liter)

$1.53 COP 4,969

$2.12 ISK 258

-27.83%

White Bread (500g)

$2.29 COP 7,429

$4.24 ISK 515

-45.99%

Rice (white) (1kg)

$1.94 COP 6,306

$3.64 ISK 443

-46.70%

Eggs

$3.07 COP 9,942

$7.20 ISK 875

-57.36%

Local Cheese (1kg)

$9.99 COP 32.4K

$21.85 ISK 2,655

-54.28%

Chicken Fillets (1kg)

$10.45 COP 33.9K

$24.79 ISK 3,012

-57.85%

Beef Round Steak (1kg)

$13.96 COP 45.3K

$41.37 ISK 5,027

-66.26%

Apples (1kg)

$4.05 COP 13.1K

$3.40 ISK 413

19.12%

Banana (1kg)

$1.53 COP 4,956

$2.85 ISK 347

-46.32%

Oranges (1kg)

$2.10 COP 6,823

$3.13 ISK 381

-32.91%

Tomato (1kg)

$2.29 COP 7,437

$6.54 ISK 795

-64.98%

Potato (1kg)

$2.11 COP 6,839

$3.95 ISK 480

-46.58%

Onion (1kg)

$1.71 COP 5,542

$1.68 ISK 205

1.79%

Lettuce (1 head)

$1.17 COP 3,794

$3.75 ISK 456

-68.80%

Water (1.5 liter bottle)

$1.58 COP 5,123

$1.84 ISK 224

-14.13%

Cigarettes 20 Pack (Marlboro, Camel)

$3.91 COP 12.7K

$13.70 ISK 1,665

-71.46%

Wine (Bottle)

$14.04 COP 45.5K

$23.83 ISK 2,896

-41.08%

Local Beer (0.5 liter bottle)

$1.76 COP 5,712

$3.61 ISK 439

-51.25%

Imported Beer (0.33 liter bottle)

$2.71 COP 8,793

$3.35 ISK 407

-19.10%

One-way Ticket (Public Transport)

$1.18 COP 3,825

Public Transport Monthly Pass (Regular Price)

$76.3 COP 247.4K

Taxi Start (Normal Tariff)

$1.81 COP 5,859

$6.57 ISK 799

-72.45%

Taxi (Normal Tariff) (1km)

$2.13 COP 6,904

$2.87 ISK 349

-25.78%

Taxi 1hour Waiting (Normal Tariff)

$8.13 COP 26.4K

$81.0 ISK 9,846

-89.97%

Gasoline (1 liter)

$1.28 COP 4,135

$2.05 ISK 249

-37.56%

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

$34.4K COP 111.7M

$67.8K ISK 8.2M

-49.18%

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

$34.1K COP 110.7M

$56.3K ISK 6.8M

-39.34%

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

$178 COP 576.3K

$96.1 ISK 11.7K

84.96%

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

$13.89 COP 45.0K

$32.14 ISK 3,905

-56.78%

Internet (50+ Mbps, Unlimited Data)

$30.74 COP 99.7K

$85.4 ISK 10.4K

-63.99%

Gym Membership (Monthly)

$41.94 COP 136.0K

$80.6 ISK 9,793

-47.97%

Tennis Court (1 Hour on Weekend)

$16.80 COP 54.5K

Cinema Ticket

$7.47 COP 24.2K

$19.99 ISK 2,429

-62.63%

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

$790 COP 2.6M

$1,198 ISK 145.5K

-34.02%

International Primary School, 1 Child (Yearly)

$12.3K COP 39.9M

$26.0K ISK 3.2M

-52.75%

Jeans (Levis 501 Or Similar)

$86.3 COP 279.9K

$122 ISK 14.8K

-29.00%

Summer Dress (H&M, Zara, etc)

$59.3 COP 192.2K

$66.7 ISK 8,106

-11.18%

Sport Shoes (Adidas, Nike)

$138 COP 448.6K

$183 ISK 22.2K

-24.40%

Men's Leather Business Shoes

$98.8 COP 320.4K

$247 ISK 30.0K

-59.99%

1-bedroom Apartment, City Center (Monthly)

$1,341 COP 4.3M

1-bedroom Apartment, Outside City Center (Monthly)

$667 COP 2.2M

$1,462 ISK 177.6K

-54.36%

3-bedroom Apartment, City Center (Monthly)

$1,976 COP 6.4M

3-bedroom Apartment, Outside City Center (Monthly)

$1,033 COP 3.3M

$2,674 ISK 324.9K

-61.38%

Buy Apartment in City Center (m2)

$4,098 COP 13.3M

Buy Apartment Outside City Center (m2)

$1,940 COP 6.3M

Average Monthly Net Salary (After Tax)

$646 COP 2.1M

$4,080 ISK 495.7K

-84.16%

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: November 2, 2026

Last update for Njardvik: November 1, 2026

Monthly budget structure

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

Accommodation & Living

Medellin

$667 39.4%

Njardvik

$1.5K 46.7% 119% $795

Groceries & Markets

Medellin

$307 18.2%

Njardvik

$625 19.9% 103% $317

Monthly Utilities & Internet

Medellin

$222 13.1%

Njardvik

$214 6.8% 3.9% $8.8

Eating Out

Medellin

$173 10.2%

Njardvik

$413 13.2% 140% $241

Clothing & Footwear

Medellin

$172 10.2%

Njardvik

$278 8.9% 61.5% $106

Getting Around

Medellin

$93 5.5%

Njardvik

$21 * 0.7% 77.6% $73

Sport & Entertainment

Medellin

$57 3.4%

Njardvik

$121 3.9% 112% $64

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

Cost Breakdown

Salaries in Njardvik are about 6.3 times higher. Purchasing power depends on which expenses matter most to you.

A mid-range dinner for two costs $47 in Medellin versus $98 in Njardvik. Monthly groceries follow the same trend: $307 vs $625 – making Medellin the more affordable choice for daily food spending.

Good to know

🇨🇴 Medellin

🇮🇸 Njardvik

🕒 Local time

19:09 7:09 PM

00:09 12:09 AM

5 h ahead of Medellin

🌤 Weather

👥 Population

2,486,723

6,000

💱 Currency

Colombian Peso COP $

Icelandic Króna ISK kr

📈 Exchange rate

10,000 COP = 3.08 USD

10,000 COP = 2.74 EUR

1,000 ISK = 8.23 USD

1,000 ISK = 7.31 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 November 5, 2026: 1 USD = 3,242 COP (10,000 COP = 3.08 USD). 1 EUR = 3,650 COP (10,000 COP = 2.74 EUR).

Icelandic Króna exchange rates as of November 5, 2026: 1 USD = 122 ISK (1,000 ISK = 8.23 USD). 1 EUR = 137 ISK (1,000 ISK = 7.31 EUR).

USD to COP in detail →

On the map

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Between locations

Medellin Njardvik 7,660 km ≈ 10 h nonstop flight

From you

Medellin
Njardvik

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 Njardvik: Cost of Living - Frequently Asked Questions

Yes – Njardvik is pricier by about 85%, and outside of rent the gap shows up most in groceries.

For a comfortable life, plan on about $2,538 per month in Medellin and $4,700 in Njardvik. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

A mid-range dinner for two costs $47 in Medellin and $98 in Njardvik. That’s a good indicator of the overall restaurant and café pricing gap between the two cities.

Groceries cost about 103% more in Njardvik, though the gap depends on what you buy.

A $2,500 monthly budget goes further in Medellin, where all-in costs run around $1,692, than in Njardvik at $3,133. In Medellin it covers expenses comfortably, while in Njardvik it requires careful planning or may not stretch far enough.

It depends on your priorities. Medellin has an edge in some lifestyle areas, with costs from $1,692 in Medellin to $3,133 in Njardvik. Climate, culture, job market, and personal taste all factor in.

If budget matters most, go with Medellin. If higher salaries or specific career opportunities are the priority, Njardvik makes more sense. Both are solid long-term options with distinct trade-offs.