Last update: Oct 2026

Cost of Living Comparison Between Mexico City and Reykjavik

For one person, living is cheaper in Mexico City: $1,567 a month against $4,002 in Reykjavik, rent and utilities included – about $29,200 less a year. Rent and utilities account for most of the difference.

76

Cost of Living Index in Mexico City
Learn more

Mexico City Living Index
193

Cost of Living Index in Reykjavik
Learn more

Reykjavik Living Index

Jump to prices

Mexico City

🇲🇽 Mexico

$1,567

/mo nomad

Reykjavik

🇮🇸 Iceland

$4,002

/mo nomad

Monthly Cost of Living

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

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 Reykjavik actually costs, broken down by who's living it.

Monthly costs for one person with rent: $1,567 in Mexico City versus $4,002 in Reykjavik.

Mexico City $1,567
Reykjavik $4,002

Estimated couple costs with rent: $2,450 in Mexico City versus $5,705 in Reykjavik.

Mexico City $2,450
Reykjavik $5,705

Monthly costs for a family of three with rent: $3,333 in Mexico City versus $7,407 in Reykjavik.

Mexico City $3,333
Reykjavik $7,407

Living in Mexico City costs roughly 61% less than in Reykjavik, and outside of rent the biggest gap is in eating out.

Both cities are pricier than the global median: Mexico City 16% above, Reykjavik 196% above.

Meal at Budget Restaurant

$10.75 MX$199

$31.56 ISK 3,828

-65.94%

Three-Course Dinner for Two, Mid-Range

$50.3 MX$929

$122 ISK 14.8K

-58.93%

Fast Food Meal (McDonalds, etc)

$11.10 MX$205

$26.86 ISK 3,258

-58.67%

Cappuccino

$3.68 MX$68.1

$6.81 ISK 827

-45.96%

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

$1.65 MX$30.42

$3.39 ISK 411

-51.33%

Water (0.33 liter bottle)

$1.30 MX$24.08

$3.20 ISK 388

-59.38%

Local Beer (0.5 liter draught)

$3.32 MX$61.3

$14.14 ISK 1,715

-76.52%

Imported Beer (0.33 liter bottle)

$5.54 MX$102

$12.31 ISK 1,493

-55.00%

Milk (1 liter)

$1.77 MX$32.68

$2.10 ISK 255

-15.71%

White Bread (500g)

$3.05 MX$56.4

$4.19 ISK 508

-27.21%

Rice (white) (1kg)

$2.01 MX$37.20

$3.72 ISK 451

-45.97%

Eggs

$2.77 MX$51.1

$7.05 ISK 856

-60.71%

Local Cheese (1kg)

$11.91 MX$220

$21.56 ISK 2,615

-44.76%

Chicken Fillets (1kg)

$9.33 MX$172

$24.68 ISK 2,993

-62.20%

Beef Round Steak (1kg)

$15.02 MX$278

$42.19 ISK 5,117

-64.40%

Apples (1kg)

$3.08 MX$56.8

$3.23 ISK 392

-4.64%

Banana (1kg)

$1.95 MX$35.97

$2.73 ISK 331

-28.57%

Oranges (1kg)

$2.03 MX$37.54

$3.17 ISK 384

-35.96%

Tomato (1kg)

$2.21 MX$40.92

$6.61 ISK 802

-66.57%

Potato (1kg)

$2.02 MX$37.41

$3.85 ISK 467

-47.53%

Onion (1kg)

$1.82 MX$33.67

$1.66 ISK 201

9.64%

Lettuce (1 head)

$1.52 MX$28.07

$3.80 ISK 461

-60.00%

Water (1.5 liter bottle)

$1.28 MX$23.65

$1.75 ISK 212

-26.86%

Cigarettes 20 Pack (Marlboro, Camel)

$5.27 MX$97.4

$13.71 ISK 1,662

-61.56%

Wine (Bottle)

$16.12 MX$298

$24.21 ISK 2,937

-33.42%

Local Beer (0.5 liter bottle)

$1.95 MX$36.05

$3.53 ISK 428

-44.76%

Imported Beer (0.33 liter bottle)

$4.25 MX$78.6

$3.32 ISK 402

28.01%

One-way Ticket (Public Transport)

$0.31 MX$5.82

$5.75 ISK 697

-94.61%

Public Transport Monthly Pass (Regular Price)

$19.85 MX$367

$93.8 ISK 11.4K

-78.84%

Taxi Start (Normal Tariff)

$2.00 MX$36.93

$6.61 ISK 802

-69.74%

Taxi (Normal Tariff) (1km)

$0.53 MX$9.86

$2.90 ISK 352

-81.72%

Taxi 1hour Waiting (Normal Tariff)

$5.62 MX$104

$79.2 ISK 9,602

-92.90%

Gasoline (1 liter)

$1.52 MX$28.07

$2.09 ISK 253

-27.27%

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

$21.0K MX$388.7K

$51.0K ISK 6.2M

-58.77%

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

$25.2K MX$465.3K

$53.3K ISK 6.5M

-52.74%

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

$62.5 MX$1,155

$95.3 ISK 11.6K

-34.40%

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

$28.77 MX$532

$32.35 ISK 3,923

-11.07%

Internet (50+ Mbps, Unlimited Data)

$34.45 MX$637

$87.5 ISK 10.6K

-60.65%

Gym Membership (Monthly)

$57.1 MX$1,055

$102 ISK 12.4K

-43.94%

Tennis Court (1 Hour on Weekend)

$24.81 MX$458

$50.1 ISK 6,074

-50.46%

Cinema Ticket

$6.67 MX$123

$19.88 ISK 2,412

-66.45%

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

$431 MX$7,964

$1,194 ISK 144.8K

-63.91%

International Primary School, 1 Child (Yearly)

$11.7K MX$216.9K

$25.4K ISK 3.1M

-53.80%

Jeans (Levis 501 Or Similar)

$70.8 MX$1,308

$149 ISK 18.1K

-52.50%

Summer Dress (H&M, Zara, etc)

$51.8 MX$958

$66.6 ISK 8,080

-22.20%

Sport Shoes (Adidas, Nike)

$109 MX$2,011

$180 ISK 21.8K

-39.49%

Men's Leather Business Shoes

$112 MX$2,076

$253 ISK 30.7K

-55.65%

1-bedroom Apartment, City Center (Monthly)

$1,051 MX$19.4K

$2,549 ISK 309.2K

-58.76%

1-bedroom Apartment, Outside City Center (Monthly)

$665 MX$12.3K

$2,056 ISK 249.4K

-67.65%

3-bedroom Apartment, City Center (Monthly)

$2,346 MX$43.3K

$3,498 ISK 424.2K

-32.93%

3-bedroom Apartment, Outside City Center (Monthly)

$1,227 MX$22.7K

$2,764 ISK 335.2K

-55.62%

Buy Apartment in City Center (m2)

$3,554 MX$65.7K

$8,120 ISK 984.9K

-56.24%

Buy Apartment Outside City Center (m2)

$1,977 MX$36.5K

$6,254 ISK 758.5K

-68.39%

Average Monthly Net Salary (After Tax)

$975 MX$18.0K

$4,573 ISK 554.6K

-78.69%

20-Year Fixed Mortgage Interest Rate (Annual %)

11.3

8.81

28.26%

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

Last update for Mexico City: October 11, 2026

Last update for Reykjavik: October 12, 2026

Monthly budget structure

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

Accommodation & Living

Mexico City

$665 42.4%

Reykjavik

$2.1K 51.4% 209% $1.4K

Groceries & Markets

Mexico City

$323 20.6%

Reykjavik

$623 15.6% 93% $300

Eating Out

Mexico City

$203 13%

Reykjavik

$536 13.4% 164% $333

Clothing & Footwear

Mexico City

$155 9.9%

Reykjavik

$292 7.3% 88.7% $137

Monthly Utilities & Internet

Mexico City

$126 8%

Reykjavik

$215 5.4% 71.2% $89

Sport & Entertainment

Mexico City

$70 4.5%

Reykjavik

$142 3.5% 101% $71

Getting Around

Mexico City

$26 1.6%

Reykjavik

$138 3.5% 435% $112

Cost Breakdown

A one-bedroom apartment in the center runs $1,051 in Mexico City and $2,549 in Reykjavik. Housing cost is often the main lever when comparing two cities.

Reykjavik pays 369% 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: $50.0 in Mexico City vs $122 in Reykjavik for a mid-range dinner for two. Groceries echo the gap at $323 vs $623 per month, with Mexico City cheaper across the board.

Good to know

🇲🇽 Mexico City

🇮🇸 Reykjavik

🕒 Local time

03:34 3:34 AM

09:34 9:34 AM

6 h ahead of Mexico City

🌤 Weather

👥 Population

9,209,944 Capital

136,894 Capital

💱 Currency

Mexican Peso MXN $

Icelandic Króna ISK kr

📈 Exchange rate

100 MXN = 5.41 USD

100 MXN = 4.81 EUR

1,000 ISK = 8.24 USD

1,000 ISK = 7.33 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 19, 2026: 1 USD = 18.48 MXN (100 MXN = 5.41 USD). 1 EUR = 20.77 MXN (100 MXN = 4.81 EUR).

Icelandic Króna exchange rates as of October 19, 2026: 1 USD = 121 ISK (1,000 ISK = 8.24 USD). 1 EUR = 136 ISK (1,000 ISK = 7.33 EUR).

USD to MXN in detail →

On the map

Lowest

Highest

Between locations

Mexico City Reykjavik 7,450 km ≈ 10 h nonstop flight

From you

Mexico City
Reykjavik

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 Reykjavik: Cost of Living - Frequently Asked Questions

Mexico City and Reykjavik differ by about 155% in total monthly costs ($1,567 vs $4,002 including rent). Mexico City is meaningfully more affordable – a gap that matters a lot on a fixed or modest income.

On paper, salaries run 369% lower in Reykjavik. 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: $1,051 in Mexico City versus $2,549 in Reykjavik. Housing is usually the single largest factor when comparing overall living costs between the two.

A monthly transit pass in Mexico City runs roughly 373% less than in Reykjavik. Both cities have functional networks, but the price difference matters if you're watching your budget.

Childcare runs $431 in Mexico City versus $1,194 in Reykjavik. Over years of preschool, even a modest monthly gap compounds into a major financial factor for families.

At $1,567 in Mexico City versus $4,002 in Reykjavik, a $2,000 budget is realistic in Mexico City but tight or insufficient in Reykjavik. The gap between the two cities makes Mexico City the clear choice for anyone on this budget.

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.

Safety-wise, Mexico City and Reykjavik 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 155% less than in Reykjavik. Beyond cost, consider language, visa policies, and how big the international community is in each city.