Last update: Oct 2026

Cost of Living Comparison Between Reykjavik and Altos

For one person, living is cheaper in Altos: $252 a month against $4,037 in Reykjavik, rent and utilities included – about $45,400 less a year. Rent and utilities account for most of the difference.

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Cost of Living Index in Reykjavik
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Reykjavik Living Index

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Reykjavik

🇮🇸 Iceland

$4,037

/mo nomad

Altos

🇵🇾 Paraguay

$252

/mo nomad

Monthly Cost of Living

How much you'll spend in Reykjavik and in Altos

Real prices from locals and on-the-ground checks – rent, groceries, transit and the daily extras. Here's what a month in Reykjavik and in Altos actually costs, broken down by who's living it.

Monthly costs for one person with rent: $4,037 in Reykjavik versus $252 in Altos.

Reykjavik $4,037
Altos $252

Estimated couple costs with rent: $5,666 in Reykjavik versus $375 in Altos.

Reykjavik $5,666
Altos $375

Monthly costs for a family of three with rent: $7,295 in Reykjavik versus $498 in Altos.

Reykjavik $7,295
Altos $498

Living in Reykjavik is roughly 1500% more expensive than in Altos, and outside of rent the biggest gap is in eating out.

The two cities straddle the global median: Reykjavik is 201% above, Altos is 81% below.

Meal at Budget Restaurant

$30.59 ISK 3,730

Three-Course Dinner for Two, Mid-Range

$136 ISK 16.5K

Fast Food Meal (McDonalds, etc)

$27.08 ISK 3,302

Cappuccino

$6.72 ISK 819

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

$3.27 ISK 399

Water (0.33 liter bottle)

$3.16 ISK 386

Local Beer (0.5 liter draught)

$13.91 ISK 1,696

Imported Beer (0.33 liter bottle)

$12.06 ISK 1,470

Milk (1 liter)

$2.04 ISK 248

$0.49 ₲2,760

316.33%

White Bread (500g)

$4.32 ISK 527

$0.85 ₲4,814

408.24%

Rice (white) (1kg)

$3.67 ISK 447

$0.99 ₲5,610

270.71%

Eggs

$7.02 ISK 856

$1.89 ₲10.7K

271.43%

Local Cheese (1kg)

$22.01 ISK 2,684

$6.08 ₲34.5K

262.01%

Chicken Fillets (1kg)

$24.70 ISK 3,012

$3.53 ₲20.0K

599.72%

Beef Round Steak (1kg)

$42.66 ISK 5,202

$5.42 ₲30.8K

687.08%

Apples (1kg)

$3.37 ISK 412

$2.34 ₲13.3K

44.02%

Banana (1kg)

$2.85 ISK 347

$1.27 ₲7,217

124.41%

Oranges (1kg)

$3.17 ISK 387

$1.36 ₲7,738

133.09%

Tomato (1kg)

$6.39 ISK 779

$1.85 ₲10.5K

245.41%

Potato (1kg)

$4.01 ISK 489

$1.17 ₲6,637

242.74%

Onion (1kg)

$1.64 ISK 200

$1.34 ₲7,629

22.39%

Lettuce (1 head)

$3.80 ISK 463

$1.21 ₲6,871

214.05%

Water (1.5 liter bottle)

$1.74 ISK 212

$0.87 ₲4,924

100.00%

Cigarettes 20 Pack (Marlboro, Camel)

$13.80 ISK 1,682

$0.96 ₲5,443

1337.50%

Wine (Bottle)

$23.38 ISK 2,851

$7.89 ₲44.8K

196.32%

Local Beer (0.5 liter bottle)

$3.53 ISK 430

$0.69 ₲3,908

411.59%

Imported Beer (0.33 liter bottle)

$3.45 ISK 420

$0.77 ₲4,370

348.05%

One-way Ticket (Public Transport)

$5.77 ISK 704

$0.38 ₲2,163

1418.42%

Public Transport Monthly Pass (Regular Price)

$95.1 ISK 11.6K

$11.91 ₲67.6K

698.82%

Taxi Start (Normal Tariff)

$6.63 ISK 808

$1.68 ₲9,529

294.64%

Taxi (Normal Tariff) (1km)

$2.79 ISK 341

$0.73 ₲4,140

282.19%

Taxi 1hour Waiting (Normal Tariff)

$81.4 ISK 9,923

Gasoline (1 liter)

$2.11 ISK 257

$1.18 ₲6,684

78.81%

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

$50.8K ISK 6.2M

$19.0K ₲108.1M

166.77%

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

$52.7K ISK 6.4M

$23.2K ₲131.7M

127.29%

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

$88.7 ISK 10.8K

$35.18 ₲199.7K

152.05%

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

$31.53 ISK 3,845

$7.84 ₲44.5K

302.17%

Internet (50+ Mbps, Unlimited Data)

$84.6 ISK 10.3K

$14.12 ₲80.1K

499.43%

Gym Membership (Monthly)

$100 ISK 12.2K

Tennis Court (1 Hour on Weekend)

$48.20 ISK 5,877

Cinema Ticket

$19.87 ISK 2,424

$3.49 ₲19.8K

469.34%

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

$1,277 ISK 155.8K

International Primary School, 1 Child (Yearly)

$31.0K ISK 3.8M

Jeans (Levis 501 Or Similar)

$161 ISK 19.6K

$24.94 ₲141.6K

544.99%

Summer Dress (H&M, Zara, etc)

$64.9 ISK 7,914

Sport Shoes (Adidas, Nike)

$183 ISK 22.3K

Men's Leather Business Shoes

$254 ISK 31.0K

1-bedroom Apartment, City Center (Monthly)

$2,499 ISK 304.8K

1-bedroom Apartment, Outside City Center (Monthly)

$2,000 ISK 243.9K

3-bedroom Apartment, City Center (Monthly)

$3,452 ISK 421.0K

3-bedroom Apartment, Outside City Center (Monthly)

$2,742 ISK 334.4K

Buy Apartment in City Center (m2)

$8,001 ISK 975.7K

$1,524 ₲8.6M

425.12%

Buy Apartment Outside City Center (m2)

$6,249 ISK 762.1K

$1,014 ₲5.8M

516.47%

Average Monthly Net Salary (After Tax)

$4,691 ISK 572.0K

$507 ₲2.9M

825.47%

20-Year Fixed Mortgage Interest Rate (Annual %)

8.81

-11.90%

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

Last update for Reykjavik: October 4, 2026

Last update for Altos: October 5, 2026

Monthly budget structure

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

Accommodation & Living

Reykjavik

$2K 50.9%

Altos

–

Groceries & Markets

Reykjavik

$625 15.9%

Altos

–

Eating Out

Reykjavik

$526 13.4%

Altos

–

Clothing & Footwear

Reykjavik

$298 7.6%

Altos

–

Monthly Utilities & Internet

Reykjavik

$205 5.2%

Altos

–

Sport & Entertainment

Reykjavik

$140 3.6%

Altos

–

Getting Around

Reykjavik

$139 3.5%

Altos

–

Cost Breakdown

Reykjavik pays 825% more on average. The extra income cushions the higher costs, though housing choices and lifestyle decide how much of the gap is truly closed.

Good to know

🇮🇸 Reykjavik

🇵🇾 Altos

🕒 Local time

07:33 7:33 AM

04:33 4:33 AM

3 h behind Reykjavik

🌤 Weather

👥 Population

136,894 Capital

4,763

💱 Currency

Icelandic Króna ISK kr

Paraguayan Guarani PYG ₲

📈 Exchange rate

1,000 ISK = 8.2 USD

1,000 ISK = 7.31 EUR

10,000 PYG = 1.76 USD

10,000 PYG = 1.57 EUR

Exchange rates and currency converter

PYG, USD, EUR to ISK – Icelandic Króna Converter

🇺🇸 United States Dollar ($)

🇮🇸 Icelandic Króna (kr)

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).

Paraguayan Guarani exchange rates as of October 10, 2026: 1 USD = 5,676 PYG (10,000 PYG = 1.76 USD). 1 EUR = 6,366 PYG (10,000 PYG = 1.57 EUR).

USD to ISK in detail →

On the map

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Between locations

Reykjavik Altos 10,400 km ≈ 14 h nonstop flight

From you

Reykjavik
Altos

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

Reykjavik vs Altos: Cost of Living - Frequently Asked Questions

Altos is cheaper overall, especially in groceries, eating out, and clothing. The 1500% gap adds up to real monthly savings that compound significantly over time.

Average pay runs 825% higher in Reykjavik, which matters when comparing affordability. Whether that higher income actually nets you more depends on your spending habits and housing choices.

Supermarket bills run roughly 308% higher in Reykjavik. For households that cook at home regularly, that difference adds up over a month.

A monthly transit pass in Altos runs roughly 699% less than in Reykjavik. Both cities have functional networks, but the price difference matters if you're watching your budget.

At $252 in Altos versus $4,037 in Reykjavik, a $1,500 budget is realistic in Altos but tight or insufficient in Reykjavik. The gap between the two cities makes Altos the clear choice for anyone on this budget.

For families, Altos is more practical. Housing and childcare are both notably cheaper than in Reykjavik, and the savings on those two alone free up budget for education, activities, and family trips.

Safety-wise, Reykjavik and Altos 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 Altos gentler on the wallet – expenses run 1500% less than in Reykjavik. Beyond cost, consider language, visa policies, and how big the international community is in each city.