Cost of Living Comparison Between Medellin and Selfoss Cost of Living Comparison Between Medellin and Selfoss

Monthly Cost of Living

A single person spends $1,028 per month in Medellin vs $3,518 in Selfoss, rent included.

A couple spends around $1,586 per month in Medellin vs $2,483 in Selfoss, rent included.

A family of three spends $2,144 per month in Medellin vs $1,447 in Selfoss, rent included.

Medellin is about 71% cheaper than Selfoss, driven mainly by Groceries & Markets.

Medellin sits 23% below the global median, while Selfoss is 164% above – they fall on opposite sides of the world average.

Meal at Budget Restaurant

$6.00 COP 20.6K

Three-Course Dinner for Two, Mid-Range

$32.84 COP 112.5K

Fast Food Meal (McDonalds, etc)

$7.42 COP 25.4K

$20.10 ISK 2,498

-63.08%

Cappuccino

$1.65 COP 5,659

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

$1.07 COP 3,663

Water (0.33 liter bottle)

$0.76 COP 2,607

Local Beer (0.5 liter draught)

$1.72 COP 5,908

$11.98 ISK 1,489

-85.64%

Imported Beer (0.33 liter bottle)

$3.20 COP 11.0K

Milk (1 liter)

$1.05 COP 3,597

$1.73 ISK 214

-39.31%

White Bread (500g)

$1.31 COP 4,479

$7.26 ISK 902

-81.96%

Rice (white) (1kg)

$1.34 COP 4,591

$4.43 ISK 551

-69.75%

Eggs

$2.19 COP 7,521

$6.17 ISK 766

-64.51%

Local Cheese (1kg)

$4.41 COP 15.1K

$16.57 ISK 2,059

-73.39%

Chicken Fillets (1kg)

$5.69 COP 19.5K

$20.62 ISK 2,562

-72.41%

Beef Round Steak (1kg)

$8.52 COP 29.2K

$32.37 ISK 4,022

-73.68%

Apples (1kg)

$2.34 COP 8,023

$2.74 ISK 340

-14.60%

Banana (1kg)

$1.11 COP 3,804

$2.57 ISK 320

-56.81%

Oranges (1kg)

$1.52 COP 5,210

$2.62 ISK 326

-41.98%

Tomato (1kg)

$1.37 COP 4,680

$7.12 ISK 885

-80.76%

Potato (1kg)

$1.15 COP 3,950

$3.09 ISK 384

-62.78%

Onion (1kg)

$1.18 COP 4,043

$2.07 ISK 257

-43.00%

Lettuce (1 head)

$0.84 COP 2,885

$3.48 ISK 432

-75.86%

Water (1.5 liter bottle)

$0.86 COP 2,931

$1.34 ISK 166

-35.82%

Cigarettes 20 Pack (Marlboro, Camel)

$2.26 COP 7,753

$15.27 ISK 1,897

-85.20%

Wine (Bottle)

$11.60 COP 39.8K

Local Beer (0.5 liter bottle)

$1.20 COP 4,109

Imported Beer (0.33 liter bottle)

$2.48 COP 8,484

$1.14 ISK 141

117.54%

One-way Ticket (Public Transport)

$0.79 COP 2,721

Public Transport Monthly Pass (Regular Price)

$40.83 COP 139.9K

Taxi Start (Normal Tariff)

$1.47 COP 5,023

Taxi (Normal Tariff) (1km)

$1.92 COP 6,568

Taxi 1hour Waiting (Normal Tariff)

$7.77 COP 26.6K

Gasoline (1 liter)

$1.01 COP 3,464

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

$17.7K COP 60.5M

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

$26.5K COP 90.7M

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

$81.1 COP 277.9K

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

$9.43 COP 32.3K

Internet (50+ Mbps, Unlimited Data)

$23.86 COP 81.8K

Gym Membership (Monthly)

$25.99 COP 89.1K

Tennis Court (1 Hour on Weekend)

$18.71 COP 64.1K

Cinema Ticket

$4.09 COP 14.0K

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

$315 COP 1.1M

International Primary School, 1 Child (Yearly)

$6,022 COP 20.6M

Jeans (Levis 501 Or Similar)

$59.7 COP 204.6K

Summer Dress (H&M, Zara, etc)

$31.97 COP 109.6K

Sport Shoes (Adidas, Nike)

$101 COP 346.9K

Men's Leather Business Shoes

$105 COP 360.3K

1-bedroom Apartment, City Center (Monthly)

$485 COP 1.7M

1-bedroom Apartment, Outside City Center (Monthly)

$365 COP 1.3M

$2,897 ISK 359.9K

-87.39%

3-bedroom Apartment, City Center (Monthly)

$827 COP 2.8M

3-bedroom Apartment, Outside City Center (Monthly)

$730 COP 2.5M

Buy Apartment in City Center (m2)

$2,992 COP 10.3M

Buy Apartment Outside City Center (m2)

$1,314 COP 4.5M

Average Monthly Net Salary (After Tax)

$551 COP 1.9M

20-Year Fixed Mortgage Interest Rate (Annual %)

13.43

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

Last update for Medellin: June 15, 2026

Last update for Selfoss: June 15, 2026

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 Selfoss: Cost of Living - Frequently Asked Questions

Yes – Selfoss is pricier by about 242%, and the gap shows up most in Groceries & Markets. It's not just housing either; the difference applies across most spending categories.

For a comfortable life, plan on about $1,542 per month in Medellin and $5,278 in Selfoss. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Monthly expenses with rent come to $1,028 in Medellin and $3,518 in Selfoss. The difference isn't just one category – it shows up across housing, food, transport, and services.

Groceries cost about 165% more in Selfoss, though it depends on what you buy. Local produce may be comparable; imported and premium items show the biggest price gap.

A $1,500 monthly budget goes further in Medellin, where all-in costs run around $1,028, than in Selfoss at $3,518. In Medellin it covers expenses comfortably, while in Selfoss it requires careful planning or may not stretch far enough.

Families tend to lean toward Medellin – lower housing and cheaper childcare make a real difference, especially on a single income or when paying for private education.

Both have safer and rougher neighborhoods, but overall safety is comparable to other large cities. Neighborhood choice matters more than the city-level comparison – central, well-trafficked areas feel secure in both.

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