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

Monthly Cost of Living

A single person spends $1,034 per month in Medellin vs $3,564 in Selfoss, rent included.

A couple spends around $1,577 per month in Medellin vs $2,499 in Selfoss, rent included.

A family of three spends $2,120 per month in Medellin vs $1,435 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 166% above – they fall on opposite sides of the world average.

Meal at Budget Restaurant

$5.92 COP 21.4K

Three-Course Dinner for Two, Mid-Range

$32.75 COP 118.2K

Fast Food Meal (McDonalds, etc)

$7.20 COP 26.0K

$20.26 ISK 2,481

-64.46%

Cappuccino

$1.70 COP 6,140

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

$1.10 COP 3,966

Water (0.33 liter bottle)

$0.72 COP 2,605

Local Beer (0.5 liter draught)

$1.67 COP 6,022

$12.03 ISK 1,473

-86.12%

Imported Beer (0.33 liter bottle)

$3.10 COP 11.2K

Milk (1 liter)

$1.06 COP 3,809

$1.74 ISK 213

-39.08%

White Bread (500g)

$1.25 COP 4,497

$7.26 ISK 889

-82.78%

Rice (white) (1kg)

$1.39 COP 5,022

$4.53 ISK 555

-69.32%

Eggs

$2.26 COP 8,168

$6.29 ISK 770

-64.07%

Local Cheese (1kg)

$4.33 COP 15.6K

$16.50 ISK 2,021

-73.76%

Chicken Fillets (1kg)

$5.84 COP 21.1K

$20.92 ISK 2,561

-72.08%

Beef Round Steak (1kg)

$8.83 COP 31.9K

$33.41 ISK 4,091

-73.57%

Apples (1kg)

$2.24 COP 8,099

$2.70 ISK 331

-17.04%

Banana (1kg)

$1.08 COP 3,882

$2.62 ISK 320

-58.78%

Oranges (1kg)

$1.53 COP 5,522

$2.57 ISK 314

-40.47%

Tomato (1kg)

$1.37 COP 4,950

$7.17 ISK 878

-80.89%

Potato (1kg)

$1.13 COP 4,078

$3.19 ISK 391

-64.58%

Onion (1kg)

$1.12 COP 4,036

$2.05 ISK 251

-45.37%

Lettuce (1 head)

$0.85 COP 3,057

$3.52 ISK 431

-75.85%

Water (1.5 liter bottle)

$0.91 COP 3,281

$1.38 ISK 169

-34.06%

Cigarettes 20 Pack (Marlboro, Camel)

$2.33 COP 8,414

$14.96 ISK 1,832

-84.43%

Wine (Bottle)

$11.13 COP 40.2K

Local Beer (0.5 liter bottle)

$1.19 COP 4,309

Imported Beer (0.33 liter bottle)

$2.37 COP 8,553

$1.15 ISK 140

106.09%

One-way Ticket (Public Transport)

$0.79 COP 2,838

Public Transport Monthly Pass (Regular Price)

$41.13 COP 148.5K

Taxi Start (Normal Tariff)

$1.44 COP 5,184

Taxi (Normal Tariff) (1km)

$1.91 COP 6,901

Taxi 1hour Waiting (Normal Tariff)

$8.02 COP 28.9K

Gasoline (1 liter)

$0.94 COP 3,385

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

$17.9K COP 64.7M

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

$26.8K COP 96.7M

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

$84.0 COP 303.1K

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

$9.60 COP 34.7K

Internet (50+ Mbps, Unlimited Data)

$24.16 COP 87.2K

Gym Membership (Monthly)

$25.88 COP 93.4K

Tennis Court (1 Hour on Weekend)

$19.04 COP 68.7K

Cinema Ticket

$3.92 COP 14.1K

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

$306 COP 1.1M

International Primary School, 1 Child (Yearly)

$5,919 COP 21.4M

Jeans (Levis 501 Or Similar)

$57.9 COP 209.1K

Summer Dress (H&M, Zara, etc)

$31.82 COP 114.9K

Sport Shoes (Adidas, Nike)

$99.9 COP 360.6K

Men's Leather Business Shoes

$107 COP 386.8K

1-bedroom Apartment, City Center (Monthly)

$487 COP 1.8M

1-bedroom Apartment, Outside City Center (Monthly)

$368 COP 1.3M

$2,864 ISK 350.7K

-87.15%

3-bedroom Apartment, City Center (Monthly)

$826 COP 3.0M

3-bedroom Apartment, Outside City Center (Monthly)

$716 COP 2.6M

Buy Apartment in City Center (m2)

$2,925 COP 10.6M

Buy Apartment Outside City Center (m2)

$1,407 COP 5.1M

Average Monthly Net Salary (After Tax)

$546 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: April 27, 2026

Last update for Selfoss: April 28, 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 $1,550 per month in Medellin and $5,346 in Selfoss. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Monthly expenses with rent come to $1,034 in Medellin and $3,564 in Selfoss. The difference isn't just one category – it shows up across housing, food, transport, and services.

Groceries cost about 168% 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 $1,034, than in Selfoss at $3,564. 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.