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: $1,646 in Mexico City versus $4,048 in Reykjavik.

Estimated couple costs with rent: $2,613 in Mexico City versus $5,736 in Reykjavik.

Monthly costs for a family of three with rent: $3,580 in Mexico City versus $7,424 in Reykjavik.

Living in Mexico City costs roughly 59% less than in Reykjavik, driven mainly by Eating Out.

Both cities are pricier than the global median: Mexico City 20% above, Reykjavik 195% above.

Meal at Budget Restaurant

$12.11 MX$206

$30.26 ISK 3,667

-59.98%

Three-Course Dinner for Two, Mid-Range

$52.2 MX$887

$135 ISK 16.4K

-61.45%

Fast Food Meal (McDonalds, etc)

$10.90 MX$185

$26.29 ISK 3,186

-58.54%

Cappuccino

$4.05 MX$68.8

$6.95 ISK 842

-41.73%

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

$1.72 MX$29.13

$3.30 ISK 400

-47.88%

Water (0.33 liter bottle)

$1.38 MX$23.40

$3.35 ISK 406

-58.81%

Local Beer (0.5 liter draught)

$3.47 MX$58.9

$14.06 ISK 1,704

-75.32%

Imported Beer (0.33 liter bottle)

$5.81 MX$98.7

$12.60 ISK 1,527

-53.89%

Milk (1 liter)

$1.85 MX$31.48

$2.10 ISK 254

-11.90%

White Bread (500g)

$3.22 MX$54.7

$4.47 ISK 542

-27.96%

Rice (white) (1kg)

$2.09 MX$35.42

$3.59 ISK 436

-41.78%

Eggs

$2.91 MX$49.41

$7.13 ISK 865

-59.19%

Local Cheese (1kg)

$12.49 MX$212

$21.34 ISK 2,586

-41.47%

Chicken Fillets (1kg)

$10.11 MX$172

$24.37 ISK 2,953

-58.51%

Beef Round Steak (1kg)

$15.89 MX$270

$42.10 ISK 5,102

-62.26%

Apples (1kg)

$3.31 MX$56.3

$3.35 ISK 406

-1.19%

Banana (1kg)

$2.13 MX$36.12

$2.82 ISK 341

-24.47%

Oranges (1kg)

$2.19 MX$37.20

$3.21 ISK 389

-31.78%

Tomato (1kg)

$2.45 MX$41.57

$6.24 ISK 756

-60.74%

Potato (1kg)

$2.19 MX$37.18

$4.01 ISK 487

-45.39%

Onion (1kg)

$1.90 MX$32.35

$1.70 ISK 206

11.76%

Lettuce (1 head)

$1.62 MX$27.44

$3.83 ISK 464

-57.70%

Water (1.5 liter bottle)

$1.35 MX$22.92

$1.78 ISK 216

-24.16%

Cigarettes 20 Pack (Marlboro, Camel)

$5.43 MX$92.1

$13.75 ISK 1,666

-60.51%

Wine (Bottle)

$17.59 MX$299

$24.28 ISK 2,942

-27.55%

Local Beer (0.5 liter bottle)

$2.07 MX$35.12

$3.79 ISK 460

-45.38%

Imported Beer (0.33 liter bottle)

$4.75 MX$80.6

$3.45 ISK 418

37.68%

One-way Ticket (Public Transport)

$0.34 MX$5.77

$5.81 ISK 704

-94.15%

Public Transport Monthly Pass (Regular Price)

$21.58 MX$366

$92.7 ISK 11.2K

-76.73%

Taxi Start (Normal Tariff)

$2.04 MX$34.65

$6.84 ISK 829

-70.18%

Taxi (Normal Tariff) (1km)

$0.58 MX$9.82

$2.90 ISK 352

-80.00%

Taxi 1hour Waiting (Normal Tariff)

$5.97 MX$101

$74.5 ISK 9,033

-91.99%

Gasoline (1 liter)

$1.62 MX$27.44

$2.00 ISK 242

-19.00%

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

$22.8K MX$387.4K

$50.6K ISK 6.1M

-54.89%

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

$26.7K MX$452.8K

$53.4K ISK 6.5M

-50.09%

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

$65.2 MX$1,108

$89.6 ISK 10.9K

-27.17%

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

$29.87 MX$507

$33.11 ISK 4,013

-9.79%

Internet (50+ Mbps, Unlimited Data)

$36.55 MX$621

$85.1 ISK 10.3K

-57.07%

Gym Membership (Monthly)

$61.0 MX$1,036

$99.0 ISK 12.0K

-38.37%

Tennis Court (1 Hour on Weekend)

$26.70 MX$453

$50.3 ISK 6,100

-46.96%

Cinema Ticket

$6.85 MX$116

$19.43 ISK 2,354

-64.75%

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

$453 MX$7,700

$1,173 ISK 142.1K

-61.34%

International Primary School, 1 Child (Yearly)

$13.4K MX$227.1K

$31.2K ISK 3.8M

-57.21%

Jeans (Levis 501 Or Similar)

$75.0 MX$1,273

$161 ISK 19.5K

-53.41%

Summer Dress (H&M, Zara, etc)

$55.3 MX$939

$65.1 ISK 7,890

-15.08%

Sport Shoes (Adidas, Nike)

$114 MX$1,929

$183 ISK 22.2K

-37.97%

Men's Leather Business Shoes

$123 MX$2,083

$249 ISK 30.2K

-50.78%

1-bedroom Apartment, City Center (Monthly)

$1,134 MX$19.3K

$2,506 ISK 303.7K

-54.77%

1-bedroom Apartment, Outside City Center (Monthly)

$712 MX$12.1K

$2,092 ISK 253.5K

-65.96%

3-bedroom Apartment, City Center (Monthly)

$2,571 MX$43.7K

$3,408 ISK 413.0K

-24.58%

3-bedroom Apartment, Outside City Center (Monthly)

$1,311 MX$22.3K

$2,752 ISK 333.5K

-52.36%

Buy Apartment in City Center (m2)

$3,993 MX$67.8K

$7,972 ISK 966.1K

-49.92%

Buy Apartment Outside City Center (m2)

$2,095 MX$35.6K

$6,354 ISK 770.0K

-67.02%

Average Monthly Net Salary (After Tax)

$1,047 MX$17.8K

$4,606 ISK 558.1K

-77.27%

20-Year Fixed Mortgage Interest Rate (Annual %)

11.3

8.88

27.25%

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

Last update for Mexico City: August 29, 2026

Last update for Reykjavik: August 29, 2026

Cost Breakdown

A one-bedroom apartment in the center runs $1,134 in Mexico City and $2,506 in Reykjavik. Housing cost is often the main lever when comparing two cities.

Reykjavik pays 340% 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: $52.0 in Mexico City vs $135 in Reykjavik for a mid-range dinner for two. Groceries echo the gap at $345 vs $625 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 146% in total monthly costs ($1,646 vs $4,048 including rent). Mexico City is meaningfully more affordable – a gap that matters a lot on a fixed or modest income.

On paper, salaries run 340% 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: $1,134 in Mexico City versus $2,506 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 330% less than in Reykjavik. Both cities have functional networks, but the price difference matters if you're watching your budget.

Childcare runs $453 in Mexico City versus $1,173 in Reykjavik. Over years of preschool, even a modest monthly gap compounds into a major financial factor for families.

At $1,646 in Mexico City versus $4,048 in Reykjavik, a $3,000 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 146% less than in Reykjavik. Beyond cost, consider language, visa policies, and how big the international community is in each city.