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

Monthly Cost of Living

Monthly costs for one person with rent: $1,456 in Mexico City versus $3,869 in Reykjavik.

Estimated couple costs with rent: $2,361 in Mexico City versus $5,475 in Reykjavik.

Monthly costs for a family of three with rent: $3,266 in Mexico City versus $7,081 in Reykjavik.

Living in Mexico City costs roughly 62% less than in Reykjavik, driven mainly by Groceries & Markets.

Both cities are pricier than the global median: Mexico City 9% above, Reykjavik 190% above.

Meal at Budget Restaurant

$13.07 MX$229

$27.43 ISK 3,418

-52.35%

Three-Course Dinner for Two, Mid-Range

$53.8 MX$943

$142 ISK 17.7K

-62.19%

Fast Food Meal (McDonalds, etc)

$9.68 MX$170

$22.54 ISK 2,809

-57.05%

Cappuccino

$3.74 MX$65.6

$6.05 ISK 754

-38.18%

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

$1.62 MX$28.34

$3.22 ISK 402

-49.69%

Water (0.33 liter bottle)

$1.16 MX$20.37

$2.52 ISK 314

-53.97%

Local Beer (0.5 liter draught)

$3.23 MX$56.6

$12.93 ISK 1,611

-75.02%

Imported Beer (0.33 liter bottle)

$4.74 MX$83.1

$11.39 ISK 1,420

-58.38%

Milk (1 liter)

$1.65 MX$28.89

$1.89 ISK 235

-12.70%

White Bread (500g)

$2.75 MX$48.30

$4.19 ISK 522

-34.37%

Rice (white) (1kg)

$1.87 MX$32.87

$3.54 ISK 441

-47.18%

Eggs

$2.50 MX$43.86

$6.31 ISK 786

-60.38%

Local Cheese (1kg)

$10.20 MX$179

$18.00 ISK 2,243

-43.33%

Chicken Fillets (1kg)

$8.25 MX$145

$24.46 ISK 3,048

-66.27%

Beef Round Steak (1kg)

$11.82 MX$207

$41.94 ISK 5,226

-71.82%

Apples (1kg)

$3.01 MX$52.8

$3.33 ISK 415

-9.61%

Banana (1kg)

$1.81 MX$31.77

$2.40 ISK 300

-24.58%

Oranges (1kg)

$2.00 MX$35.07

$3.03 ISK 377

-33.99%

Tomato (1kg)

$2.00 MX$35.00

$5.13 ISK 639

-61.01%

Potato (1kg)

$2.08 MX$36.56

$3.66 ISK 455

-43.17%

Onion (1kg)

$2.27 MX$39.85

$2.42 ISK 302

-6.20%

Lettuce (1 head)

$1.46 MX$25.55

$3.17 ISK 394

-53.94%

Water (1.5 liter bottle)

$1.08 MX$18.88

$1.93 ISK 241

-44.04%

Cigarettes 20 Pack (Marlboro, Camel)

$4.35 MX$76.3

$13.76 ISK 1,714

-68.39%

Wine (Bottle)

$16.99 MX$298

$22.67 ISK 2,825

-25.06%

Local Beer (0.5 liter bottle)

$1.73 MX$30.40

$3.75 ISK 467

-53.87%

Imported Beer (0.33 liter bottle)

$3.58 MX$62.7

$3.26 ISK 406

9.82%

One-way Ticket (Public Transport)

$0.39 MX$6.79

$5.30 ISK 661

-92.64%

Public Transport Monthly Pass (Regular Price)

$18.69 MX$328

$88.2 ISK 11.0K

-78.81%

Taxi Start (Normal Tariff)

$1.33 MX$23.25

$6.51 ISK 811

-79.57%

Taxi (Normal Tariff) (1km)

$0.28 MX$4.91

$2.57 ISK 321

-89.11%

Taxi 1hour Waiting (Normal Tariff)

$5.25 MX$92.1

$86.4 ISK 10.8K

-93.93%

Gasoline (1 liter)

$1.34 MX$23.44

$2.52 ISK 314

-46.83%

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

$19.4K MX$340.5K

$47.7K ISK 5.9M

-59.34%

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

$23.8K MX$418.0K

$51.8K ISK 6.5M

-54.03%

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

$40.69 MX$714

$87.1 ISK 10.9K

-53.28%

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

$26.87 MX$471

$27.13 ISK 3,380

-0.96%

Internet (50+ Mbps, Unlimited Data)

$30.51 MX$535

$85.4 ISK 10.6K

-64.27%

Gym Membership (Monthly)

$52.8 MX$926

$84.0 ISK 10.5K

-37.19%

Tennis Court (1 Hour on Weekend)

$26.65 MX$467

$38.12 ISK 4,750

-30.09%

Cinema Ticket

$6.51 MX$114

$17.35 ISK 2,162

-62.48%

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

$428 MX$7,508

$319 ISK 39.8K

34.11%

International Primary School, 1 Child (Yearly)

$10.5K MX$184.2K

$30.7K ISK 3.8M

-65.77%

Jeans (Levis 501 Or Similar)

$57.3 MX$1,004

$138 ISK 17.1K

-58.37%

Summer Dress (H&M, Zara, etc)

$45.50 MX$798

$62.8 ISK 7,821

-27.51%

Sport Shoes (Adidas, Nike)

$104 MX$1,825

$182 ISK 22.7K

-42.86%

Men's Leather Business Shoes

$108 MX$1,891

$269 ISK 33.5K

-59.93%

1-bedroom Apartment, City Center (Monthly)

$1,003 MX$17.6K

$2,254 ISK 280.8K

-55.48%

1-bedroom Apartment, Outside City Center (Monthly)

$623 MX$10.9K

$2,008 ISK 250.2K

-68.98%

3-bedroom Apartment, City Center (Monthly)

$2,109 MX$37.0K

$3,231 ISK 402.6K

-34.73%

3-bedroom Apartment, Outside City Center (Monthly)

$1,218 MX$21.4K

$2,756 ISK 343.4K

-55.81%

Buy Apartment in City Center (m2)

$3,885 MX$68.1K

$7,955 ISK 991.2K

-51.17%

Buy Apartment Outside City Center (m2)

$2,033 MX$35.7K

$6,156 ISK 767.1K

-66.98%

Average Monthly Net Salary (After Tax)

$1,038 MX$18.2K

$4,438 ISK 553.0K

-76.62%

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: July 13, 2026

Last update for Reykjavik: July 11, 2026

Cost Breakdown

A one-bedroom apartment in the center runs $1,003 in Mexico City and $2,254 in Reykjavik. Housing cost is often the main lever when comparing two cities.

Reykjavik pays 328% 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: $54.0 in Mexico City vs $142 in Reykjavik for a mid-range dinner for two. Groceries echo the gap at $292 vs $593 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 Reykjavik: Cost of Living - Frequently Asked Questions

Mexico City and Reykjavik differ by about 166% in total monthly costs ($1,456 vs $3,869 including rent). Mexico City is meaningfully more affordable – a gap that matters a lot on a fixed or modest income.

On paper, salaries run 328% 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: $1,003 in Mexico City versus $2,254 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 372% less than in Reykjavik. Both cities have functional networks, but the price difference matters if you're watching your budget.

Childcare runs $428 in Mexico City versus $319 in Reykjavik. Over years of preschool, even a modest monthly gap compounds into a major financial factor for families.

At $1,456 in Mexico City versus $3,869 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 166% less than in Reykjavik. Beyond cost, consider language, visa policies, and how big the international community is in each city.