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

🙂 Solo nomad: Medellin is 68.1% cheaper than Reykjavik without rent, and 73.1% cheaper with rent.

🙂 Family of 3: Medellin is 69.2% cheaper than Reykjavik without rent, and 69.5% cheaper with rent.

Meal at Budget Restaurant

$5.97 COP 21.9K

$26.70 ISK 3,364

-77.64%

Three-Course Dinner for Two, Mid-Range

$32.40 COP 119.0K

$145 ISK 18.2K

-77.61%

Fast Food Meal (McDonalds, etc)

$7.13 COP 26.2K

$22.39 ISK 2,820

-68.16%

Cappuccino

$1.65 COP 6,043

$6.06 ISK 764

-72.77%

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

$1.06 COP 3,882

$3.28 ISK 414

-67.68%

Water (0.33 liter bottle)

$0.77 COP 2,839

$2.62 ISK 330

-70.61%

Local Beer (0.5 liter draught)

$1.75 COP 6,418

$13.02 ISK 1,640

-86.56%

Imported Beer (0.33 liter bottle)

$3.06 COP 11.2K

$11.28 ISK 1,421

-72.87%

Milk (1 liter)

$1.10 COP 4,026

$1.87 ISK 235

-41.18%

White Bread (500g)

$1.30 COP 4,771

$4.32 ISK 544

-69.91%

Rice (white) (1kg)

$1.34 COP 4,905

$3.71 ISK 468

-63.88%

Eggs

$2.26 COP 8,299

$6.52 ISK 821

-65.34%

Local Cheese (1kg)

$4.50 COP 16.5K

$18.16 ISK 2,288

-75.22%

Chicken Fillets (1kg)

$5.80 COP 21.3K

$23.83 ISK 3,002

-75.66%

Beef Round Steak (1kg)

$8.96 COP 32.9K

$42.83 ISK 5,395

-79.08%

Apples (1kg)

$2.37 COP 8,691

$3.37 ISK 424

-29.67%

Banana (1kg)

$1.07 COP 3,939

$2.50 ISK 315

-57.20%

Oranges (1kg)

$1.48 COP 5,418

$3.03 ISK 382

-51.16%

Tomato (1kg)

$1.36 COP 5,011

$4.98 ISK 627

-72.69%

Potato (1kg)

$1.13 COP 4,135

$3.66 ISK 461

-69.13%

Onion (1kg)

$1.13 COP 4,161

$2.40 ISK 302

-52.92%

Lettuce (1 head)

$0.89 COP 3,274

$3.06 ISK 386

-70.92%

Water (1.5 liter bottle)

$0.85 COP 3,114

$2.01 ISK 253

-57.71%

Cigarettes 20 Pack (Marlboro, Camel)

$2.28 COP 8,361

$13.82 ISK 1,741

-83.50%

Wine (Bottle)

$10.15 COP 37.3K

$23.58 ISK 2,971

-56.96%

Local Beer (0.5 liter bottle)

$1.19 COP 4,359

$3.55 ISK 447

-66.48%

Imported Beer (0.33 liter bottle)

$2.40 COP 8,828

$3.24 ISK 408

-25.93%

One-way Ticket (Public Transport)

$0.84 COP 3,074

$5.19 ISK 654

-83.82%

Public Transport Monthly Pass (Regular Price)

$40.85 COP 150.0K

$87.7 ISK 11.0K

-53.40%

Taxi Start (Normal Tariff)

$1.48 COP 5,417

$6.18 ISK 778

-76.05%

Taxi (Normal Tariff) (1km)

$1.89 COP 6,949

$2.64 ISK 333

-28.41%

Taxi 1hour Waiting (Normal Tariff)

$8.05 COP 29.5K

$87.3 ISK 11.0K

-90.78%

Gasoline (1 liter)

$0.94 COP 3,455

$2.56 ISK 322

-63.28%

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

$17.7K COP 65.1M

$48.0K ISK 6.0M

-63.01%

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

$26.4K COP 96.8M

$52.5K ISK 6.6M

-49.77%

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

$81.9 COP 300.7K

$88.6 ISK 11.2K

-7.62%

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

$9.54 COP 35.0K

$27.96 ISK 3,522

-65.88%

Internet (50+ Mbps, Unlimited Data)

$23.68 COP 87.0K

$84.7 ISK 10.7K

-72.03%

Gym Membership (Monthly)

$25.85 COP 94.9K

$81.7 ISK 10.3K

-68.35%

Tennis Court (1 Hour on Weekend)

$18.72 COP 68.7K

$38.00 ISK 4,786

-50.74%

Cinema Ticket

$4.05 COP 14.9K

$17.53 ISK 2,208

-76.90%

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

$316 COP 1.2M

$316 ISK 39.7K

0.11%

International Primary School, 1 Child (Yearly)

$5,971 COP 21.9M

$30.1K ISK 3.8M

-80.17%

Jeans (Levis 501 Or Similar)

$59.0 COP 216.4K

$140 ISK 17.6K

-57.78%

Summer Dress (H&M, Zara, etc)

$32.49 COP 119.3K

$62.4 ISK 7,863

-47.95%

Sport Shoes (Adidas, Nike)

$99.9 COP 366.7K

$182 ISK 22.9K

-45.10%

Men's Leather Business Shoes

$108 COP 394.9K

$264 ISK 33.2K

-59.22%

1-bedroom Apartment, City Center (Monthly)

$491 COP 1.8M

$2,225 ISK 280.3K

-77.91%

1-bedroom Apartment, Outside City Center (Monthly)

$371 COP 1.4M

$2,047 ISK 257.9K

-81.87%

3-bedroom Apartment, City Center (Monthly)

$821 COP 3.0M

$3,154 ISK 397.3K

-73.96%

3-bedroom Apartment, Outside City Center (Monthly)

$731 COP 2.7M

$2,691 ISK 339.0K

-72.83%

Buy Apartment in City Center (m2)

$3,019 COP 11.1M

$7,541 ISK 949.9K

-59.96%

Buy Apartment Outside City Center (m2)

$1,332 COP 4.9M

$6,257 ISK 788.1K

-78.71%

Average Monthly Net Salary (After Tax)

$517 COP 1.9M

$4,489 ISK 565.5K

-88.48%

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: January 12, 2026

Last update for Reykjavik: January 10, 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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