Last update: Oct 2026

Cost of Living Comparison Between Montevideo and Reykjavik

For one person, living is cheaper in Montevideo: $1,813 a month against $4,037 in Reykjavik, rent and utilities included – about $26,700 less a year. Rent and utilities account for most of the difference.

86

Cost of Living Index in Montevideo
Learn more

Montevideo Living Index
193

Cost of Living Index in Reykjavik
Learn more

Reykjavik Living Index

Jump to prices

Montevideo

🇺🇾 Uruguay

$1,813

/mo nomad

Reykjavik

🇮🇸 Iceland

$4,037

/mo nomad

Monthly Cost of Living

How much you'll spend in Montevideo 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 Montevideo and in Reykjavik actually costs, broken down by who's living it.

A single person spends $1,813 per month in Montevideo vs $4,037 in Reykjavik, rent included.

Montevideo $1,813
Reykjavik $4,037

A couple spends around $2,782 per month in Montevideo vs $5,666 in Reykjavik, rent included.

Montevideo $2,782
Reykjavik $5,666

A family of three spends $3,750 per month in Montevideo vs $7,295 in Reykjavik, rent included.

Montevideo $3,750
Reykjavik $7,295

Montevideo is about 55% cheaper than Reykjavik, and outside of rent the biggest gap is in groceries.

Both Montevideo and Reykjavik sit above the global median – Montevideo by 35%, Reykjavik by 201%.

Meal at Budget Restaurant

$15.26 UYU 613

$30.59 ISK 3,730

-50.11%

Three-Course Dinner for Two, Mid-Range

$67.4 UYU 2,711

$136 ISK 16.5K

-50.24%

Fast Food Meal (McDonalds, etc)

$14.37 UYU 578

$27.08 ISK 3,302

-46.94%

Cappuccino

$4.64 UYU 187

$6.72 ISK 819

-30.95%

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

$2.73 UYU 110

$3.27 ISK 399

-16.51%

Water (0.33 liter bottle)

$2.09 UYU 84.0

$3.16 ISK 386

-33.86%

Local Beer (0.5 liter draught)

$4.75 UYU 191

$13.91 ISK 1,696

-65.85%

Imported Beer (0.33 liter bottle)

$3.67 UYU 147

$12.06 ISK 1,470

-69.57%

Milk (1 liter)

$1.38 UYU 55.5

$2.04 ISK 248

-32.35%

White Bread (500g)

$2.77 UYU 112

$4.32 ISK 527

-35.88%

Rice (white) (1kg)

$1.69 UYU 67.8

$3.67 ISK 447

-53.95%

Eggs

$4.52 UYU 182

$7.02 ISK 856

-35.61%

Local Cheese (1kg)

$14.17 UYU 570

$22.01 ISK 2,684

-35.62%

Chicken Fillets (1kg)

$12.07 UYU 485

$24.70 ISK 3,012

-51.13%

Beef Round Steak (1kg)

$12.16 UYU 489

$42.66 ISK 5,202

-71.50%

Apples (1kg)

$2.87 UYU 116

$3.37 ISK 412

-14.84%

Banana (1kg)

$2.75 UYU 110

$2.85 ISK 347

-3.51%

Oranges (1kg)

$1.73 UYU 69.5

$3.17 ISK 387

-45.43%

Tomato (1kg)

$3.24 UYU 130

$6.39 ISK 779

-49.30%

Potato (1kg)

$2.07 UYU 83.1

$4.01 ISK 489

-48.38%

Onion (1kg)

$2.07 UYU 83.1

$1.64 ISK 200

26.22%

Lettuce (1 head)

$1.38 UYU 55.4

$3.80 ISK 463

-63.68%

Water (1.5 liter bottle)

$1.85 UYU 74.5

$1.74 ISK 212

6.32%

Cigarettes 20 Pack (Marlboro, Camel)

$5.57 UYU 224

$13.80 ISK 1,682

-59.64%

Wine (Bottle)

$8.89 UYU 357

$23.38 ISK 2,851

-61.98%

Local Beer (0.5 liter bottle)

$2.29 UYU 92.2

$3.53 ISK 430

-35.13%

Imported Beer (0.33 liter bottle)

$2.70 UYU 109

$3.45 ISK 420

-21.74%

One-way Ticket (Public Transport)

$1.52 UYU 61.3

$5.77 ISK 704

-73.66%

Public Transport Monthly Pass (Regular Price)

$73.7 UYU 2,962

$95.1 ISK 11.6K

-22.58%

Taxi Start (Normal Tariff)

$1.82 UYU 73.4

$6.63 ISK 808

-72.55%

Taxi (Normal Tariff) (1km)

$0.40 UYU 16.05

$2.79 ISK 341

-85.66%

Taxi 1hour Waiting (Normal Tariff)

$10.66 UYU 429

$81.4 ISK 9,923

-86.90%

Gasoline (1 liter)

$2.22 UYU 89.2

$2.11 ISK 257

5.21%

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

$26.7K UYU 1.1M

$50.8K ISK 6.2M

-47.37%

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

$36.7K UYU 1.5M

$52.7K ISK 6.4M

-30.33%

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

$191 UYU 7,674

$88.7 ISK 10.8K

115.22%

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

$20.40 UYU 820

$31.53 ISK 3,845

-35.30%

Internet (50+ Mbps, Unlimited Data)

$44.14 UYU 1,775

$84.6 ISK 10.3K

-47.85%

Gym Membership (Monthly)

$54.1 UYU 2,177

$100 ISK 12.2K

-46.06%

Tennis Court (1 Hour on Weekend)

$19.68 UYU 791

$48.20 ISK 5,877

-59.17%

Cinema Ticket

$12.33 UYU 496

$19.87 ISK 2,424

-37.95%

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

$613 UYU 24.7K

$1,277 ISK 155.8K

-52.01%

International Primary School, 1 Child (Yearly)

$11.0K UYU 444.3K

$31.0K ISK 3.8M

-64.30%

Jeans (Levis 501 Or Similar)

$103 UYU 4,134

$161 ISK 19.6K

-36.09%

Summer Dress (H&M, Zara, etc)

$56.1 UYU 2,255

$64.9 ISK 7,914

-13.61%

Sport Shoes (Adidas, Nike)

$124 UYU 5,000

$183 ISK 22.3K

-31.92%

Men's Leather Business Shoes

$130 UYU 5,214

$254 ISK 31.0K

-48.92%

1-bedroom Apartment, City Center (Monthly)

$705 UYU 28.4K

$2,499 ISK 304.8K

-71.78%

1-bedroom Apartment, Outside City Center (Monthly)

$575 UYU 23.1K

$2,000 ISK 243.9K

-71.23%

3-bedroom Apartment, City Center (Monthly)

$1,139 UYU 45.8K

$3,452 ISK 421.0K

-67.02%

3-bedroom Apartment, Outside City Center (Monthly)

$1,016 UYU 40.8K

$2,742 ISK 334.4K

-62.97%

Buy Apartment in City Center (m2)

$3,349 UYU 134.6K

$8,001 ISK 975.7K

-58.15%

Buy Apartment Outside City Center (m2)

$1,942 UYU 78.1K

$6,249 ISK 762.1K

-68.93%

Average Monthly Net Salary (After Tax)

$1,229 UYU 49.4K

$4,691 ISK 572.0K

-73.80%

20-Year Fixed Mortgage Interest Rate (Annual %)

5.74

8.81

-34.85%

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

Last update for Montevideo: October 5, 2026

Last update for Reykjavik: October 4, 2026

Monthly budget structure

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

Accommodation & Living

Montevideo

$575 32.3%

Reykjavik

$2K 50.9% 248% $1.4K

Groceries & Markets

Montevideo

$332 18.7%

Reykjavik

$625 15.9% 88% $293

Eating Out

Montevideo

$271 15.2%

Reykjavik

$526 13.4% 93.9% $255

Monthly Utilities & Internet

Montevideo

$255 14.3%

Reykjavik

$205 5.2% 19.8% $51

Clothing & Footwear

Montevideo

$186 10.4%

Reykjavik

$298 7.6% 60.4% $112

Getting Around

Montevideo

$84 4.7%

Reykjavik

$139 3.5% 66.1% $55

Sport & Entertainment

Montevideo

$79 4.4%

Reykjavik

$140 3.6% 77.8% $61

Cost Breakdown

A central one-bedroom costs $705 in Montevideo versus $2,499 in Reykjavik. Rent is usually the largest line item in a monthly budget, so the gap here sets the tone for the overall comparison.

Salaries run about 282% higher in Reykjavik, which partly offsets the higher cost of living there. Purchasing power depends on which expenses matter most to you.

A mid-range dinner for two costs $67.0 in Montevideo versus $136 in Reykjavik. Monthly groceries follow the same trend: $332 vs $625 – making Montevideo the more affordable choice for daily food spending.

Good to know

🇺🇾 Montevideo

🇮🇸 Reykjavik

🕒 Local time

04:34 4:34 AM

07:34 7:34 AM

3 h ahead of Montevideo

🌤 Weather

👥 Population

1,319,108 Capital

136,894 Capital

💱 Currency

Uruguayan Peso UYU $U

Icelandic Króna ISK kr

📈 Exchange rate

100 UYU = 2.49 USD

100 UYU = 2.22 EUR

1,000 ISK = 8.2 USD

1,000 ISK = 7.31 EUR

Exchange rates and currency converter

ISK, USD, EUR to UYU – Uruguayan Peso Converter

🇺🇸 United States Dollar ($)

🇺🇾 Uruguayan Peso ($U)

Uruguayan Peso exchange rates as of October 10, 2026: 1 USD = 40.21 UYU (100 UYU = 2.49 USD). 1 EUR = 45.1 UYU (100 UYU = 2.22 EUR).

Icelandic Króna exchange rates as of October 10, 2026: 1 USD = 122 ISK (1,000 ISK = 8.2 USD). 1 EUR = 137 ISK (1,000 ISK = 7.31 EUR).

USD to UYU in detail →

On the map

Lowest

Highest

Between locations

Montevideo Reykjavik 11,420 km ≈ 15 h nonstop flight

From you

Montevideo
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

Montevideo vs Reykjavik: Cost of Living - Frequently Asked Questions

Yes – Reykjavik is pricier by about 123%, and outside of rent the gap shows up most in groceries.

For a comfortable life, plan on about $2,720 per month in Montevideo and $6,055 in Reykjavik. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Rent is clearly cheaper in Montevideo, especially for central apartments. Housing is actually the single biggest factor behind the overall cost gap between these two cities.

Kindergarten costs $613 per month in Montevideo and $1,277 in Reykjavik. For families with young kids, this one expense can tip the scales when choosing between the two cities.

Groceries cost about 88% more in Reykjavik, though it depends on what you buy. Local produce may be comparable; imported and premium items show the biggest price gap.

A $2,500 monthly budget goes further in Montevideo, where all-in costs run around $1,813, than in Reykjavik at $4,037. In Montevideo it covers expenses comfortably, while in Reykjavik it requires careful planning or may not stretch far enough.

Families tend to lean toward Montevideo – lower housing and cheaper childcare make a real difference, especially on a single income or when paying for private education.

Both have safer and rougher neighborhoods, but overall safety is comparable to other large cities. Neighborhood choice matters more than the city-level comparison – central, well-trafficked areas feel secure in both.

If budget matters most, go with Montevideo. If higher salaries, better infrastructure, or specific career opportunities are the priority, Reykjavik makes more sense. Both are solid long-term options with distinct trade-offs.