Cost of Living Comparison Between Mexico City and Keflavik Cost of Living Comparison Between Mexico City and Keflavik

Monthly Cost of Living

Monthly costs for one person with rent: $1,484 in Mexico City versus $2,873 in Keflavik.

Estimated couple costs with rent: $2,381 in Mexico City versus $4,433 in Keflavik.

Monthly costs for a family of three with rent: $3,278 in Mexico City versus $5,992 in Keflavik.

Living in Mexico City costs roughly 48% less than in Keflavik, driven mainly by Groceries & Markets.

Both cities are pricier than the global median: Mexico City 11% above, Keflavik 115% above.

Meal at Budget Restaurant

$12.98 MX$227

$23.97 ISK 2,935

-45.85%

Three-Course Dinner for Two, Mid-Range

$53.1 MX$929

$147 ISK 18.0K

-63.92%

Fast Food Meal (McDonalds, etc)

$9.72 MX$170

$19.75 ISK 2,418

-50.78%

Cappuccino

$3.75 MX$65.6

$4.11 ISK 503

-8.76%

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

$1.57 MX$27.46

$3.12 ISK 382

-49.68%

Water (0.33 liter bottle)

$1.13 MX$19.76

$2.50 ISK 307

-54.80%

Local Beer (0.5 liter draught)

$3.18 MX$55.7

$8.16 ISK 999

-61.03%

Imported Beer (0.33 liter bottle)

$4.66 MX$81.6

$8.16 ISK 999

-42.89%

Milk (1 liter)

$1.62 MX$28.37

$1.96 ISK 240

-17.35%

White Bread (500g)

$2.71 MX$47.36

$4.14 ISK 507

-34.54%

Rice (white) (1kg)

$1.88 MX$32.89

$2.48 ISK 303

-24.19%

Eggs

$2.51 MX$43.90

$6.35 ISK 777

-60.47%

Local Cheese (1kg)

$10.08 MX$176

$18.44 ISK 2,258

-45.34%

Chicken Fillets (1kg)

$8.29 MX$145

$23.91 ISK 2,928

-65.33%

Beef Round Steak (1kg)

$11.94 MX$209

$42.20 ISK 5,166

-71.71%

Apples (1kg)

$2.86 MX$50.1

$2.35 ISK 287

21.70%

Banana (1kg)

$1.75 MX$30.62

$2.48 ISK 304

-29.44%

Oranges (1kg)

$2.08 MX$36.48

$2.43 ISK 298

-14.40%

Tomato (1kg)

$1.97 MX$34.46

$3.95 ISK 483

-50.13%

Potato (1kg)

$2.16 MX$37.79

$3.21 ISK 393

-32.71%

Onion (1kg)

$2.18 MX$38.16

$2.03 ISK 248

7.39%

Lettuce (1 head)

$1.39 MX$24.34

$3.08 ISK 377

-54.87%

Water (1.5 liter bottle)

$1.12 MX$19.69

$1.94 ISK 238

-42.27%

Cigarettes 20 Pack (Marlboro, Camel)

$4.20 MX$73.5

$13.45 ISK 1,646

-68.77%

Wine (Bottle)

$14.25 MX$249

$16.12 ISK 1,974

-11.60%

Local Beer (0.5 liter bottle)

$1.76 MX$30.85

$3.71 ISK 454

-52.56%

Imported Beer (0.33 liter bottle)

$3.68 MX$64.5

$2.80 ISK 343

31.43%

One-way Ticket (Public Transport)

$0.39 MX$6.74

$3.52 ISK 432

-88.92%

Public Transport Monthly Pass (Regular Price)

$18.66 MX$327

$74.8 ISK 9,164

-75.07%

Taxi Start (Normal Tariff)

$1.39 MX$24.26

$6.24 ISK 765

-77.72%

Taxi (Normal Tariff) (1km)

$0.30 MX$5.32

$2.30 ISK 281

-86.96%

Taxi 1hour Waiting (Normal Tariff)

$5.42 MX$94.9

$85.2 ISK 10.4K

-93.64%

Gasoline (1 liter)

$1.35 MX$23.63

$2.56 ISK 313

-47.27%

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

$18.9K MX$330.5K

$47.2K ISK 5.8M

-59.99%

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

$23.2K MX$405.2K

$52.6K ISK 6.4M

-55.95%

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

$40.82 MX$714

$87.5 ISK 10.7K

-53.37%

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

$27.50 MX$481

$27.94 ISK 3,421

-1.57%

Internet (50+ Mbps, Unlimited Data)

$30.38 MX$532

$86.2 ISK 10.6K

-64.74%

Gym Membership (Monthly)

$53.4 MX$935

Tennis Court (1 Hour on Weekend)

$26.30 MX$460

Cinema Ticket

$6.27 MX$110

$17.88 ISK 2,190

-64.93%

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

$436 MX$7,632

$319 ISK 39.1K

36.59%

International Primary School, 1 Child (Yearly)

$10.5K MX$183.2K

$30.3K ISK 3.7M

-65.43%

Jeans (Levis 501 Or Similar)

$56.8 MX$993

$137 ISK 16.7K

-58.42%

Summer Dress (H&M, Zara, etc)

$44.79 MX$784

$61.4 ISK 7,513

-27.00%

Sport Shoes (Adidas, Nike)

$103 MX$1,799

$179 ISK 21.9K

-42.41%

Men's Leather Business Shoes

$108 MX$1,888

$187 ISK 22.9K

-42.21%

1-bedroom Apartment, City Center (Monthly)

$1,000 MX$17.5K

$1,826 ISK 223.6K

-45.26%

1-bedroom Apartment, Outside City Center (Monthly)

$620 MX$10.9K

$1,331 ISK 163.0K

-53.40%

3-bedroom Apartment, City Center (Monthly)

$2,137 MX$37.4K

$2,481 ISK 303.8K

-13.88%

3-bedroom Apartment, Outside City Center (Monthly)

$1,235 MX$21.6K

$2,009 ISK 246.0K

-38.52%

Buy Apartment in City Center (m2)

$3,865 MX$67.6K

Buy Apartment Outside City Center (m2)

$2,332 MX$40.8K

Average Monthly Net Salary (After Tax)

$1,067 MX$18.7K

$3,701 ISK 453.2K

-71.17%

20-Year Fixed Mortgage Interest Rate (Annual %)

11.34

9.63

17.76%

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

Last update for Mexico City: April 27, 2026

Last update for Keflavik: April 26, 2026

Cost Breakdown

A one-bedroom apartment in the center runs $1,000 in Mexico City and $1,826 in Keflavik. Housing cost is often the main lever when comparing two cities.

Keflavik pays 247% more on average. The extra income cushions the higher costs, though housing choices and lifestyle decide how much of the gap is truly closed.

Dining out: $53.0 in Mexico City vs $147 in Keflavik for a mid-range dinner for two. Groceries echo the gap at $286 vs $560 per month, with Mexico City cheaper across the board.

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 Keflavik: Cost of Living - Frequently Asked Questions

Mexico City wins on cost – living expenses run 94% lower than in Keflavik. Housing and daily spending are where you'll feel the difference most, making Mexico City the obvious pick if budget is a priority.

On paper, Keflavik earns 247% less. That's worth factoring in alongside costs, though remote workers earning in a stronger currency may not notice the difference at all.

Rent for a central apartment: $1,000 in Mexico City versus $1,826 in Keflavik. Housing is usually the single largest factor when comparing overall living costs between the two.

A monthly transit pass in Mexico City runs roughly 301% less than in Keflavik. Both cities have functional networks, but the price difference matters if you're watching your budget.

Childcare runs $436 in Mexico City versus $319 in Keflavik. Over years of preschool, even a modest monthly gap compounds into a major financial factor for families.

At $1,484 in Mexico City versus $2,873 in Keflavik, a $2,000 budget is realistic in Mexico City but tight or insufficient in Keflavik. The gap between the two cities makes Mexico City the clear choice for anyone on this budget.

Both work as nomad bases, but Mexico City delivers better value – similar infrastructure at $1,484 monthly. If stretching your runway or maximizing savings is the goal, the price difference makes Mexico City hard to pass up.

Safety-wise, Mexico City and Keflavik are on par. Petty crime is typical for cities this size, and most residents feel comfortable going about their daily routines in either place.

Expats usually find Mexico City gentler on the wallet – expenses run 94% less than in Keflavik. Beyond cost, consider language, visa policies, and how big the international community is in each city.