Last update: Oct 2026

Cost of Living Comparison Between Paraguay and Reykjavik

For one person, living is cheaper in Paraguay: $973 a month against $4,037 in Reykjavik, rent and utilities included – about $36,800 less a year. Rent and utilities account for most of the difference.

47

Cost of Living Index in Paraguay
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Paraguay Living Index
193

Cost of Living Index in Reykjavik
Learn more

Reykjavik Living Index

Jump to prices

🇵🇾 Paraguay

$973

/mo nomad

Reykjavik

🇮🇸 Iceland

$4,037

/mo nomad

🙂 Solo nomad: Paraguay is 69.4% cheaper than Reykjavik without rent, and 75.9% cheaper with rent.

🙂 Family of 3: Paraguay is 69.6% cheaper than Reykjavik without rent, and 71.6% cheaper with rent.

Meal at Budget Restaurant

$6.45 ₲36.6K

$30.59 ISK 3,730

-78.91%

Three-Course Dinner for Two, Mid-Range

$34.41 ₲195.3K

$136 ISK 16.5K

-74.61%

Fast Food Meal (McDonalds, etc)

$6.96 ₲39.5K

$27.08 ISK 3,302

-74.30%

Cappuccino

$2.88 ₲16.4K

$6.72 ISK 819

-57.14%

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

$1.08 ₲6,127

$3.27 ISK 399

-66.97%

Water (0.33 liter bottle)

$0.56 ₲3,179

$3.16 ISK 386

-82.28%

Local Beer (0.5 liter draught)

$1.74 ₲9,862

$13.91 ISK 1,696

-87.49%

Imported Beer (0.33 liter bottle)

$1.99 ₲11.3K

$12.06 ISK 1,470

-83.50%

Milk (1 liter)

$1.16 ₲6,599

$2.04 ISK 248

-43.14%

White Bread (500g)

$1.35 ₲7,648

$4.32 ISK 527

-68.75%

Rice (white) (1kg)

$1.29 ₲7,327

$3.67 ISK 447

-64.85%

Eggs

$2.30 ₲13.1K

$7.02 ISK 856

-67.24%

Local Cheese (1kg)

$8.48 ₲48.1K

$22.01 ISK 2,684

-61.47%

Chicken Fillets (1kg)

$4.58 ₲26.0K

$24.70 ISK 3,012

-81.46%

Beef Round Steak (1kg)

$9.47 ₲53.7K

$42.66 ISK 5,202

-77.80%

Apples (1kg)

$2.77 ₲15.7K

$3.37 ISK 412

-17.80%

Banana (1kg)

$1.18 ₲6,725

$2.85 ISK 347

-58.60%

Oranges (1kg)

$1.19 ₲6,778

$3.17 ISK 387

-62.46%

Tomato (1kg)

$2.29 ₲13.0K

$6.39 ISK 779

-64.16%

Potato (1kg)

$1.30 ₲7,351

$4.01 ISK 489

-67.58%

Onion (1kg)

$1.26 ₲7,161

$1.64 ISK 200

-23.17%

Lettuce (1 head)

$0.77 ₲4,374

$3.80 ISK 463

-79.74%

Water (1.5 liter bottle)

$0.72 ₲4,083

$1.74 ISK 212

-58.62%

Cigarettes 20 Pack (Marlboro, Camel)

$1.72 ₲9,770

$13.80 ISK 1,682

-87.54%

Wine (Bottle)

$6.00 ₲34.1K

$23.38 ISK 2,851

-74.34%

Local Beer (0.5 liter bottle)

$1.02 ₲5,795

$3.53 ISK 430

-71.10%

Imported Beer (0.33 liter bottle)

$1.78 ₲10.1K

$3.45 ISK 420

-48.41%

One-way Ticket (Public Transport)

$0.59 ₲3,337

$5.77 ISK 704

-89.77%

Public Transport Monthly Pass (Regular Price)

$35.17 ₲199.6K

$95.1 ISK 11.6K

-63.03%

Taxi Start (Normal Tariff)

$1.43 ₲8,131

$6.63 ISK 808

-78.43%

Taxi (Normal Tariff) (1km)

$1.52 ₲8,616

$2.79 ISK 341

-45.52%

Taxi 1hour Waiting (Normal Tariff)

$8.17 ₲46.4K

$81.4 ISK 9,923

-89.96%

Gasoline (1 liter)

$1.22 ₲6,919

$2.11 ISK 257

-42.18%

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

$16.9K ₲95.7M

$50.8K ISK 6.2M

-66.81%

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

$29.9K ₲169.9M

$52.7K ISK 6.4M

-43.25%

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

$52.2 ₲296.4K

$88.7 ISK 10.8K

-41.12%

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

$17.02 ₲96.6K

$31.53 ISK 3,845

-46.02%

Internet (50+ Mbps, Unlimited Data)

$21.23 ₲120.5K

$84.6 ISK 10.3K

-74.92%

Gym Membership (Monthly)

$34.29 ₲194.6K

$100 ISK 12.2K

-65.84%

Tennis Court (1 Hour on Weekend)

$15.41 ₲87.5K

$48.20 ISK 5,877

-68.03%

Cinema Ticket

$6.99 ₲39.7K

$19.87 ISK 2,424

-64.82%

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

$184 ₲1.0M

$1,277 ISK 155.8K

-85.58%

International Primary School, 1 Child (Yearly)

$4,866 ₲27.6M

$31.0K ISK 3.8M

-84.28%

Jeans (Levis 501 Or Similar)

$57.2 ₲324.9K

$161 ISK 19.6K

-64.42%

Summer Dress (H&M, Zara, etc)

$58.2 ₲330.3K

$64.9 ISK 7,914

-10.32%

Sport Shoes (Adidas, Nike)

$99.0 ₲562.0K

$183 ISK 22.3K

-45.79%

Men's Leather Business Shoes

$69.4 ₲393.8K

$254 ISK 31.0K

-72.67%

1-bedroom Apartment, City Center (Monthly)

$556 ₲3.2M

$2,499 ISK 304.8K

-77.76%

1-bedroom Apartment, Outside City Center (Monthly)

$346 ₲2.0M

$2,000 ISK 243.9K

-82.68%

3-bedroom Apartment, City Center (Monthly)

$923 ₲5.2M

$3,452 ISK 421.0K

-73.26%

3-bedroom Apartment, Outside City Center (Monthly)

$607 ₲3.4M

$2,742 ISK 334.4K

-77.88%

Buy Apartment in City Center (m2)

$1,680 ₲9.5M

$8,001 ISK 975.7K

-79.00%

Buy Apartment Outside City Center (m2)

$1,230 ₲7.0M

$6,249 ISK 762.1K

-80.32%

Average Monthly Net Salary (After Tax)

$622 ₲3.5M

$4,691 ISK 572.0K

-86.75%

20-Year Fixed Mortgage Interest Rate (Annual %)

10.19

8.81

15.66%

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

Last update for Paraguay: October 4, 2026

Last update for Reykjavik: October 4, 2026

Monthly budget structure

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

Accommodation & Living

Paraguay

$346 35.4%

Reykjavik

$2K 50.9% 477% $1.7K

Groceries & Markets

Paraguay

$192 19.7%

Reykjavik

$625 15.9% 225% $433

Clothing & Footwear

Paraguay

$128 13.1%

Reykjavik

$298 7.6% 133% $170

Eating Out

Paraguay

$126 12.9%

Reykjavik

$526 13.4% 317% $400

Monthly Utilities & Internet

Paraguay

$90 9.3%

Reykjavik

$205 5.2% 126% $114

Sport & Entertainment

Paraguay

$48 4.9%

Reykjavik

$140 3.6% 190% $92

Getting Around

Paraguay

$47 4.8%

Reykjavik

$139 3.5% 198% $92

Good to know

🇵🇾 Paraguay

🇮🇸 Reykjavik

🕒 Local time

06:46 6:46 AM

09:46 9:46 AM

3 h ahead of Paraguay

🌤 Weather

👥 Population

6,811,297

136,894 Capital

💱 Currency

Paraguayan Guarani PYG ₲

Icelandic Króna ISK kr

📈 Exchange rate

10,000 PYG = 1.76 USD

10,000 PYG = 1.57 EUR

1,000 ISK = 8.2 USD

1,000 ISK = 7.32 EUR

Exchange rates and currency converter

ISK, USD, EUR to PYG – Paraguayan Guarani Converter

🇺🇸 United States Dollar ($)

🇵🇾 Paraguayan Guarani (₲)

Paraguayan Guarani exchange rates as of October 10, 2026: 1 USD = 5,676 PYG (10,000 PYG = 1.76 USD). 1 EUR = 6,361 PYG (10,000 PYG = 1.57 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 = 7.32 EUR).

USD to PYG in detail →

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