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

Monthly Cost of Living

A single person spends $1,003 per month in Medellin vs $3,462 in Selfoss, rent included.

A couple spends around $1,573 per month in Medellin vs $2,428 in Selfoss, rent included.

A family of three spends $2,143 per month in Medellin vs $1,394 in Selfoss, rent included.

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

Medellin sits 25% below the global median, while Selfoss is 160% above – they fall on opposite sides of the world average.

Meal at Budget Restaurant

$5.91 COP 18.6K

Three-Course Dinner for Two, Mid-Range

$32.96 COP 103.8K

Fast Food Meal (McDonalds, etc)

$7.43 COP 23.4K

$20.38 ISK 2,519

-63.54%

Cappuccino

$1.65 COP 5,207

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

$1.10 COP 3,468

Water (0.33 liter bottle)

$0.78 COP 2,458

Local Beer (0.5 liter draught)

$1.72 COP 5,412

$11.83 ISK 1,462

-85.46%

Imported Beer (0.33 liter bottle)

$3.18 COP 10.0K

Milk (1 liter)

$1.10 COP 3,474

$1.74 ISK 215

-36.78%

White Bread (500g)

$1.26 COP 3,962

$7.09 ISK 876

-82.23%

Rice (white) (1kg)

$1.38 COP 4,349

$4.28 ISK 529

-67.76%

Eggs

$2.18 COP 6,858

$6.43 ISK 795

-66.10%

Local Cheese (1kg)

$4.49 COP 14.1K

$16.96 ISK 2,096

-73.53%

Chicken Fillets (1kg)

$5.79 COP 18.2K

$20.63 ISK 2,549

-71.93%

Beef Round Steak (1kg)

$8.97 COP 28.2K

$32.75 ISK 4,047

-72.61%

Apples (1kg)

$2.32 COP 7,308

$2.69 ISK 333

-13.75%

Banana (1kg)

$1.06 COP 3,352

$2.65 ISK 328

-60.00%

Oranges (1kg)

$1.52 COP 4,774

$2.61 ISK 323

-41.76%

Tomato (1kg)

$1.36 COP 4,270

$7.27 ISK 898

-81.29%

Potato (1kg)

$1.13 COP 3,552

$3.18 ISK 393

-64.47%

Onion (1kg)

$1.17 COP 3,689

$2.07 ISK 256

-43.48%

Lettuce (1 head)

$0.90 COP 2,838

$3.56 ISK 440

-74.72%

Water (1.5 liter bottle)

$0.90 COP 2,823

$1.38 ISK 171

-34.78%

Cigarettes 20 Pack (Marlboro, Camel)

$2.23 COP 7,034

$15.41 ISK 1,904

-85.53%

Wine (Bottle)

$12.12 COP 38.2K

Local Beer (0.5 liter bottle)

$1.19 COP 3,743

Imported Beer (0.33 liter bottle)

$2.48 COP 7,815

$1.14 ISK 141

117.54%

One-way Ticket (Public Transport)

$0.85 COP 2,687

Public Transport Monthly Pass (Regular Price)

$41.62 COP 131.0K

Taxi Start (Normal Tariff)

$1.42 COP 4,459

Taxi (Normal Tariff) (1km)

$1.95 COP 6,141

Taxi 1hour Waiting (Normal Tariff)

$7.89 COP 24.8K

Gasoline (1 liter)

$0.99 COP 3,118

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

$17.6K COP 55.4M

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

$26.8K COP 84.4M

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

$83.0 COP 261.4K

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

$9.70 COP 30.5K

Internet (50+ Mbps, Unlimited Data)

$23.52 COP 74.1K

Gym Membership (Monthly)

$25.26 COP 79.5K

Tennis Court (1 Hour on Weekend)

$19.10 COP 60.1K

Cinema Ticket

$3.95 COP 12.4K

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

$316 COP 994.2K

International Primary School, 1 Child (Yearly)

$5,975 COP 18.8M

Jeans (Levis 501 Or Similar)

$60.0 COP 188.9K

Summer Dress (H&M, Zara, etc)

$31.82 COP 100.2K

Sport Shoes (Adidas, Nike)

$102 COP 320.1K

Men's Leather Business Shoes

$107 COP 338.3K

1-bedroom Apartment, City Center (Monthly)

$475 COP 1.5M

1-bedroom Apartment, Outside City Center (Monthly)

$374 COP 1.2M

$2,903 ISK 358.8K

-87.12%

3-bedroom Apartment, City Center (Monthly)

$849 COP 2.7M

3-bedroom Apartment, Outside City Center (Monthly)

$719 COP 2.3M

Buy Apartment in City Center (m2)

$3,265 COP 10.3M

Buy Apartment Outside City Center (m2)

$1,441 COP 4.5M

Average Monthly Net Salary (After Tax)

$624 COP 2.0M

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: July 27, 2026

Last update for Selfoss: July 25, 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 245%, 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 $1,504 per month in Medellin and $5,192 in Selfoss. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Monthly expenses with rent come to $1,003 in Medellin and $3,462 in Selfoss. The difference isn't just one category – it shows up across housing, food, transport, and services.

Groceries cost about 162% 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 $1,003, than in Selfoss at $3,462. 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.