Last update: Oct 2026

Cost of Living Comparison Between Mexico City and Grundarfjordur

For one person, living is cheaper in Mexico City: $1,608 a month against $1,713 in Grundarfjordur, rent and utilities included – about $1,300 less a year. The total is higher in Grundarfjordur despite lower rent and utilities.

78

Cost of Living Index in Mexico City
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Mexico City Living Index
83

Cost of Living Index in Grundarfjordur
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Grundarfjordur Living Index

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Mexico City

🇲🇽 Mexico

$1,608

/mo nomad

Grundarfjordur

🇮🇸 Iceland

$1,713

/mo nomad

Monthly Cost of Living

How much you'll spend in Mexico City and in Grundarfjordur

Real prices from locals and on-the-ground checks – rent, groceries, transit and the daily extras. Here's what a month in Mexico City and in Grundarfjordur actually costs, broken down by who's living it.

Monthly costs for one person with rent: $1,608 in Mexico City versus $1,713 in Grundarfjordur.

Mexico City $1,608
Grundarfjordur $1,713

Estimated couple costs with rent: $2,549 in Mexico City versus $2,918 in Grundarfjordur.

Mexico City $2,549
Grundarfjordur $2,918

Monthly costs for a family of three with rent: $3,490 in Mexico City versus $4,122 in Grundarfjordur.

Mexico City $3,490
Grundarfjordur $4,122

Living in Mexico City costs roughly 6% less than in Grundarfjordur, and outside of rent the biggest gap is in eating out.

Both cities are pricier than the global median: Mexico City 18% above, Grundarfjordur 26% above.

Meal at Budget Restaurant

$10.62 MX$199

$30.53 ISK 3,720

-65.21%

Three-Course Dinner for Two, Mid-Range

$48.35 MX$904

$124 ISK 15.1K

-61.05%

Fast Food Meal (McDonalds, etc)

$10.35 MX$193

$27.06 ISK 3,298

-61.75%

Cappuccino

$3.69 MX$69.0

$6.61 ISK 805

-44.18%

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

$1.67 MX$31.14

$3.34 ISK 407

-50.00%

Water (0.33 liter bottle)

$1.27 MX$23.65

$3.03 ISK 370

-58.09%

Local Beer (0.5 liter draught)

$3.19 MX$59.7

$14.17 ISK 1,726

-77.49%

Imported Beer (0.33 liter bottle)

$5.31 MX$99.2

$12.21 ISK 1,488

-56.51%

Milk (1 liter)

$1.72 MX$32.23

$2.09 ISK 255

-17.70%

White Bread (500g)

$3.04 MX$56.8

$4.11 ISK 501

-26.03%

Rice (white) (1kg)

$1.94 MX$36.27

$3.73 ISK 455

-47.99%

Eggs

$2.89 MX$54.0

$6.93 ISK 845

-58.30%

Local Cheese (1kg)

$10.97 MX$205

$21.76 ISK 2,651

-49.59%

Chicken Fillets (1kg)

$9.25 MX$173

$24.62 ISK 2,999

-62.43%

Beef Round Steak (1kg)

$15.13 MX$283

$42.23 ISK 5,145

-64.17%

Apples (1kg)

$3.05 MX$57.0

$3.31 ISK 403

-7.85%

Banana (1kg)

$1.94 MX$36.27

$2.77 ISK 337

-29.96%

Oranges (1kg)

$2.03 MX$37.85

$3.16 ISK 385

-35.76%

Tomato (1kg)

$2.31 MX$43.25

$6.32 ISK 770

-63.45%

Potato (1kg)

$2.04 MX$38.03

$4.01 ISK 488

-49.13%

Onion (1kg)

$1.80 MX$33.63

$1.65 ISK 201

9.09%

Lettuce (1 head)

$1.48 MX$27.64

$3.84 ISK 467

-61.46%

Water (1.5 liter bottle)

$1.27 MX$23.69

$1.77 ISK 216

-28.25%

Cigarettes 20 Pack (Marlboro, Camel)

$5.30 MX$99.1

$14.16 ISK 1,725

-62.57%

Wine (Bottle)

$16.10 MX$301

$23.44 ISK 2,856

-31.31%

Local Beer (0.5 liter bottle)

$1.98 MX$37.06

$3.69 ISK 450

-46.34%

Imported Beer (0.33 liter bottle)

$4.25 MX$79.5

$3.48 ISK 424

22.13%

One-way Ticket (Public Transport)

$0.31 MX$5.70

Public Transport Monthly Pass (Regular Price)

$19.73 MX$369

Taxi Start (Normal Tariff)

$1.84 MX$34.34

$6.59 ISK 802

-72.08%

Taxi (Normal Tariff) (1km)

$0.53 MX$9.97

$2.80 ISK 341

-81.07%

Taxi 1hour Waiting (Normal Tariff)

$5.30 MX$99.0

$80.5 ISK 9,808

-93.42%

Gasoline (1 liter)

$1.51 MX$28.23

$2.10 ISK 256

-28.10%

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

$21.8K MX$406.5K

$68.8K ISK 8.4M

-68.37%

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

$24.0K MX$448.2K

$55.0K ISK 6.7M

-56.42%

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

$63.0 MX$1,177

$97.0 ISK 11.8K

-35.08%

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

$27.39 MX$512

$32.92 ISK 4,011

-16.80%

Internet (50+ Mbps, Unlimited Data)

$35.67 MX$666

$86.2 ISK 10.5K

-58.64%

Gym Membership (Monthly)

$58.9 MX$1,101

Tennis Court (1 Hour on Weekend)

$23.64 MX$442

Cinema Ticket

$6.40 MX$120

$19.36 ISK 2,359

-66.94%

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

$432 MX$8,065

$1,182 ISK 144.0K

-63.48%

International Primary School, 1 Child (Yearly)

$11.4K MX$213.5K

$26.3K ISK 3.2M

-56.62%

Jeans (Levis 501 Or Similar)

$68.2 MX$1,275

$148 ISK 18.0K

-53.87%

Summer Dress (H&M, Zara, etc)

$53.1 MX$993

$66.1 ISK 8,059

-19.67%

Sport Shoes (Adidas, Nike)

$108 MX$2,014

$185 ISK 22.5K

-41.75%

Men's Leather Business Shoes

$117 MX$2,191

$247 ISK 30.1K

-52.50%

1-bedroom Apartment, City Center (Monthly)

$1,113 MX$20.8K

1-bedroom Apartment, Outside City Center (Monthly)

$710 MX$13.3K

3-bedroom Apartment, City Center (Monthly)

$2,588 MX$48.4K

3-bedroom Apartment, Outside City Center (Monthly)

$1,406 MX$26.3K

Buy Apartment in City Center (m2)

$3,631 MX$67.8K

Buy Apartment Outside City Center (m2)

$2,135 MX$39.9K

$1,098 ISK 133.8K

94.49%

Average Monthly Net Salary (After Tax)

$946 MX$17.7K

20-Year Fixed Mortgage Interest Rate (Annual %)

11.35

8.81

28.83%

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

Last update for Mexico City: October 25, 2026

Last update for Grundarfjordur: October 24, 2026

Monthly budget structure

Share of the monthly basket for one person, rent included.

Accommodation & Living

Mexico City

$710 44.2%

Grundarfjordur

- * 0% 100%

Groceries & Markets

Mexico City

$320 19.9%

Grundarfjordur

$621 36.3% 94.5% $302

Eating Out

Mexico City

$199 12.4%

Grundarfjordur

$525 30.7% 165% $327

Clothing & Footwear

Mexico City

$156 9.7%

Grundarfjordur

$291 17% 86.5% $135

Monthly Utilities & Internet

Mexico City

$126 7.8%

Grundarfjordur

$216 12.6% 71.5% $90

Sport & Entertainment

Mexico City

$72 4.5%

Grundarfjordur

$39 * 2.3% 46% $33

Getting Around

Mexico City

$25 1.6%

Grundarfjordur

$21 * 1.2% 19.1% $4.9

Categories marked with * are only partly priced – their share counts the items that do have prices.

Cost Breakdown

Dining out: $48 in Mexico City vs $124 in Grundarfjordur for a mid-range dinner for two. Groceries echo the gap at $320 vs $621 per month, with Mexico City cheaper across the board.

Good to know

🇲🇽 Mexico City

🇮🇸 Grundarfjordur

🕒 Local time

04:24 4:24 AM

10:24 10:24 AM

6 h ahead of Mexico City

🌤 Weather

👥 Population

9,209,944 Capital

800

💱 Currency

Mexican Peso MXN $

Icelandic Króna ISK kr

📈 Exchange rate

100 MXN = 5.35 USD

100 MXN = 4.81 EUR

1,000 ISK = 8.21 USD

1,000 ISK = 7.37 EUR

Exchange rates and currency converter

ISK, USD, EUR to MXN – Mexican Peso Converter

🇺🇸 United States Dollar ($)

🇲🇽 Mexican Peso ($)

Mexican Peso exchange rates as of October 28, 2026: 1 USD = 18.69 MXN (100 MXN = 5.35 USD). 1 EUR = 20.8 MXN (100 MXN = 4.81 EUR).

Icelandic Króna exchange rates as of October 28, 2026: 1 USD = 122 ISK (1,000 ISK = 8.21 USD). 1 EUR = 136 ISK (1,000 ISK = 7.37 EUR).

USD to MXN in detail →

On the map

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Between locations

Mexico City Grundarfjordur 7,390 km ≈ 10 h nonstop flight

From you

Mexico City
Grundarfjordur

Distances are measured in a straight line. Your location is detected approximately.

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

Mexico City vs Grundarfjordur: Cost of Living - Frequently Asked Questions

Mexico City wins on cost – living expenses run 6% lower than in Grundarfjordur. Housing and daily spending are where you’ll feel the difference most, making Mexico City the obvious pick if budget is a priority.

You’d need roughly $2,412 in Mexico City and $2,570 in Grundarfjordur to live well. The gap comes down to housing and overall price levels. Both cities are liveable on less, but these numbers represent actual comfort.

Supermarket bills run roughly 94% higher in Grundarfjordur. For households that cook at home regularly, that difference adds up over a month.

All in, you’ll spend $1,608 per month in Mexico City versus $1,713 in Grundarfjordur – a 7% gap that adds up to real savings over time for anyone picking the cheaper option.

Either city works on $3,000 a month, though Mexico City gives you more room to save. At this income level, the choice is more about lifestyle than financial pressure.

Both cities offer a good standard of living with different trade-offs. Neither is objectively better – the right pick depends on what matters most: affordability, career, cultural scene, or climate.