Cost of Living Comparison Between Medellin and Reykjavik Cost of Living Comparison Between Medellin and Reykjavik

🙂 Solo nomad: Medellin is 66.6% cheaper than Reykjavik without rent, and 73% cheaper with rent.

🙂 Family of 3: Medellin is 68.7% cheaper than Reykjavik without rent, and 69.9% cheaper with rent.

Meal at Budget Restaurant

$6.03 COP 22.7K

$27.22 ISK 3,375

-77.85%

Three-Course Dinner for Two, Mid-Range

$33.17 COP 124.8K

$145 ISK 17.9K

-77.08%

Fast Food Meal (McDonalds, etc)

$7.29 COP 27.4K

$22.41 ISK 2,778

-67.47%

Cappuccino

$1.63 COP 6,133

$5.94 ISK 737

-72.56%

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

$1.05 COP 3,947

$3.26 ISK 404

-67.79%

Water (0.33 liter bottle)

$0.77 COP 2,899

$2.54 ISK 315

-69.69%

Local Beer (0.5 liter draught)

$1.73 COP 6,510

$12.83 ISK 1,591

-86.52%

Imported Beer (0.33 liter bottle)

$3.18 COP 12.0K

$11.46 ISK 1,421

-72.25%

Milk (1 liter)

$1.07 COP 4,015

$1.88 ISK 234

-43.09%

White Bread (500g)

$1.31 COP 4,935

$4.33 ISK 537

-69.75%

Rice (white) (1kg)

$1.38 COP 5,195

$3.57 ISK 443

-61.34%

Eggs

$2.25 COP 8,457

$6.56 ISK 813

-65.70%

Local Cheese (1kg)

$4.48 COP 16.9K

$18.18 ISK 2,254

-75.36%

Chicken Fillets (1kg)

$5.74 COP 21.6K

$24.52 ISK 3,040

-76.59%

Beef Round Steak (1kg)

$8.86 COP 33.3K

$42.03 ISK 5,212

-78.92%

Apples (1kg)

$2.24 COP 8,438

$3.20 ISK 397

-30.00%

Banana (1kg)

$1.06 COP 3,988

$2.42 ISK 300

-56.20%

Oranges (1kg)

$1.51 COP 5,697

$3.06 ISK 380

-50.65%

Tomato (1kg)

$1.36 COP 5,119

$4.86 ISK 603

-72.02%

Potato (1kg)

$1.12 COP 4,218

$3.66 ISK 454

-69.40%

Onion (1kg)

$1.17 COP 4,400

$2.34 ISK 290

-50.00%

Lettuce (1 head)

$0.90 COP 3,395

$3.14 ISK 389

-71.34%

Water (1.5 liter bottle)

$0.84 COP 3,150

$2.02 ISK 251

-58.42%

Cigarettes 20 Pack (Marlboro, Camel)

$2.26 COP 8,501

$13.91 ISK 1,725

-83.75%

Wine (Bottle)

$9.97 COP 37.5K

$23.74 ISK 2,944

-58.00%

Local Beer (0.5 liter bottle)

$1.18 COP 4,451

$3.69 ISK 458

-68.02%

Imported Beer (0.33 liter bottle)

$2.39 COP 8,993

$3.23 ISK 400

-26.01%

One-way Ticket (Public Transport)

$0.86 COP 3,233

$5.29 ISK 656

-83.74%

Public Transport Monthly Pass (Regular Price)

$41.45 COP 156.0K

$88.2 ISK 10.9K

-53.01%

Taxi Start (Normal Tariff)

$1.47 COP 5,521

$6.54 ISK 811

-77.52%

Taxi (Normal Tariff) (1km)

$1.95 COP 7,323

$2.60 ISK 323

-25.00%

Taxi 1hour Waiting (Normal Tariff)

$7.76 COP 29.2K

$85.8 ISK 10.6K

-90.96%

Gasoline (1 liter)

$0.97 COP 3,640

$2.51 ISK 312

-61.35%

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

$17.9K COP 67.5M

$47.1K ISK 5.8M

-61.92%

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

$26.7K COP 100.6M

$52.6K ISK 6.5M

-49.15%

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

$81.1 COP 305.2K

$89.2 ISK 11.1K

-9.03%

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

$9.40 COP 35.4K

$27.07 ISK 3,356

-65.28%

Internet (50+ Mbps, Unlimited Data)

$23.61 COP 88.8K

$84.2 ISK 10.4K

-71.95%

Gym Membership (Monthly)

$25.55 COP 96.1K

$84.0 ISK 10.4K

-69.57%

Tennis Court (1 Hour on Weekend)

$19.29 COP 72.6K

$38.09 ISK 4,722

-49.36%

Cinema Ticket

$4.10 COP 15.4K

$17.42 ISK 2,160

-76.46%

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

$306 COP 1.2M

$324 ISK 40.1K

-5.43%

International Primary School, 1 Child (Yearly)

$5,899 COP 22.2M

$30.5K ISK 3.8M

-80.63%

Jeans (Levis 501 Or Similar)

$59.8 COP 225.1K

$141 ISK 17.5K

-57.72%

Summer Dress (H&M, Zara, etc)

$31.96 COP 120.3K

$62.6 ISK 7,765

-48.97%

Sport Shoes (Adidas, Nike)

$103 COP 386.5K

$183 ISK 22.7K

-43.97%

Men's Leather Business Shoes

$108 COP 405.9K

$268 ISK 33.2K

-59.75%

1-bedroom Apartment, City Center (Monthly)

$483 COP 1.8M

$2,197 ISK 272.4K

-78.00%

1-bedroom Apartment, Outside City Center (Monthly)

$377 COP 1.4M

$2,053 ISK 254.6K

-81.62%

3-bedroom Apartment, City Center (Monthly)

$822 COP 3.1M

$3,159 ISK 391.6K

-73.99%

3-bedroom Apartment, Outside City Center (Monthly)

$721 COP 2.7M

$2,728 ISK 338.3K

-73.58%

Buy Apartment in City Center (m2)

$2,784 COP 10.5M

$7,833 ISK 971.2K

-64.46%

Buy Apartment Outside City Center (m2)

$1,320 COP 5.0M

$6,268 ISK 777.2K

-78.94%

Average Monthly Net Salary (After Tax)

$538 COP 2.0M

$4,471 ISK 554.4K

-87.98%

20-Year Fixed Mortgage Interest Rate (Annual %)

13.43

9.63

39.46%

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

Last update for Medellin: March 3, 2026

Last update for Reykjavik: March 3, 2026

City Median Internet Speeds Comparison (Updated December 2025)

The chart highlights the Precision Threshold for mobile and fixed broadband internet speeds, updated quarterly.

Digital Nomad Cost of Living Index

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