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

Monthly Cost of Living

A single person spends $1,681 per month in Medellin vs $3,496 in Selfoss, rent included.

A couple spends around $2,445 per month in Medellin vs $2,470 in Selfoss, rent included.

A family of three spends $3,210 per month in Medellin vs $1,444 in Selfoss, rent included.

Medellin is about 52% cheaper than Selfoss, driven mainly by Groceries & Markets.

Both Medellin and Selfoss sit above the global median – Medellin by 23%, Selfoss by 156%.

Meal at Budget Restaurant

$8.02 COP 25.0K

Three-Course Dinner for Two, Mid-Range

$47.87 COP 149.4K

Fast Food Meal (McDonalds, etc)

$9.89 COP 30.8K

$20.93 ISK 2,549

-52.75%

Cappuccino

$3.13 COP 9,767

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

$1.91 COP 5,954

Water (0.33 liter bottle)

$1.51 COP 4,712

Local Beer (0.5 liter draught)

$3.12 COP 9,747

$12.41 ISK 1,512

-74.86%

Imported Beer (0.33 liter bottle)

$5.75 COP 17.9K

Milk (1 liter)

$1.44 COP 4,509

$1.76 ISK 215

-18.18%

White Bread (500g)

$2.49 COP 7,759

$7.28 ISK 886

-65.80%

Rice (white) (1kg)

$1.77 COP 5,535

$4.49 ISK 546

-60.58%

Eggs

$2.96 COP 9,235

$6.59 ISK 802

-55.08%

Local Cheese (1kg)

$10.07 COP 31.4K

$17.00 ISK 2,071

-40.76%

Chicken Fillets (1kg)

$10.12 COP 31.6K

$21.05 ISK 2,564

-51.92%

Beef Round Steak (1kg)

$14.30 COP 44.6K

$34.45 ISK 4,196

-58.49%

Apples (1kg)

$4.14 COP 12.9K

$2.74 ISK 333

51.09%

Banana (1kg)

$1.61 COP 5,019

$2.70 ISK 329

-40.37%

Oranges (1kg)

$2.25 COP 7,007

$2.64 ISK 321

-14.77%

Tomato (1kg)

$2.25 COP 7,028

$7.04 ISK 857

-68.04%

Potato (1kg)

$2.04 COP 6,375

$3.27 ISK 398

-37.61%

Onion (1kg)

$1.54 COP 4,790

$2.17 ISK 264

-29.03%

Lettuce (1 head)

$1.17 COP 3,651

$3.56 ISK 433

-67.13%

Water (1.5 liter bottle)

$1.31 COP 4,077

$1.42 ISK 173

-7.75%

Cigarettes 20 Pack (Marlboro, Camel)

$3.90 COP 12.2K

$15.55 ISK 1,894

-74.92%

Wine (Bottle)

$14.01 COP 43.7K

Local Beer (0.5 liter bottle)

$1.74 COP 5,439

Imported Beer (0.33 liter bottle)

$2.87 COP 8,956

$1.18 ISK 144

143.22%

One-way Ticket (Public Transport)

$1.22 COP 3,792

Public Transport Monthly Pass (Regular Price)

$80.5 COP 251.1K

Taxi Start (Normal Tariff)

$1.31 COP 4,084

Taxi (Normal Tariff) (1km)

$2.19 COP 6,825

Taxi 1hour Waiting (Normal Tariff)

$8.71 COP 27.2K

Gasoline (1 liter)

$1.37 COP 4,260

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

$27.8K COP 86.9M

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

$35.8K COP 111.6M

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

$177 COP 553.2K

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

$13.88 COP 43.3K

Internet (50+ Mbps, Unlimited Data)

$29.72 COP 92.8K

Gym Membership (Monthly)

$44.88 COP 140.1K

Tennis Court (1 Hour on Weekend)

$17.12 COP 53.4K

Cinema Ticket

$6.65 COP 20.7K

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

$813 COP 2.5M

International Primary School, 1 Child (Yearly)

$9,187 COP 28.7M

Jeans (Levis 501 Or Similar)

$89.5 COP 279.3K

Summer Dress (H&M, Zara, etc)

$59.0 COP 184.0K

Sport Shoes (Adidas, Nike)

$138 COP 431.2K

Men's Leather Business Shoes

$102 COP 318.7K

1-bedroom Apartment, City Center (Monthly)

$1,062 COP 3.3M

1-bedroom Apartment, Outside City Center (Monthly)

$663 COP 2.1M

$2,832 ISK 344.9K

-76.59%

3-bedroom Apartment, City Center (Monthly)

$1,888 COP 5.9M

3-bedroom Apartment, Outside City Center (Monthly)

$1,027 COP 3.2M

Buy Apartment in City Center (m2)

$4,183 COP 13.1M

Buy Apartment Outside City Center (m2)

$1,675 COP 5.2M

Average Monthly Net Salary (After Tax)

$678 COP 2.1M

20-Year Fixed Mortgage Interest Rate (Annual %)

10.94

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

Last update for Medellin: September 14, 2026

Last update for Selfoss: September 12, 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 108%, 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 $2,521 per month in Medellin and $5,244 in Selfoss. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Monthly expenses with rent come to $1,681 in Medellin and $3,496 in Selfoss. The difference isn't just one category – it shows up across housing, food, transport, and services.

Groceries cost about 70% 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 $2,500 monthly budget goes further in Medellin, where all-in costs run around $1,681, than in Selfoss at $3,496. 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.