Last update: Oct 2026

Cost of Living Comparison Between Reykjavik and Asuncion

For one person, living is cheaper in Asuncion: $1,049 a month against $4,037 in Reykjavik, rent and utilities included – about $35,900 less a year. Rent and utilities account for most of the difference.

193

Cost of Living Index in Reykjavik
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Reykjavik Living Index
51

Cost of Living Index in Asuncion
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Asuncion Living Index

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Reykjavik

🇮🇸 Iceland

$4,037

/mo nomad

Asuncion

🇵🇾 Paraguay

$1,049

/mo nomad

Monthly Cost of Living

How much you'll spend in Reykjavik and in Asuncion

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 Asuncion actually costs, broken down by who's living it.

A single person spends $4,037 per month in Reykjavik vs $1,049 in Asuncion, rent included.

Reykjavik $4,037
Asuncion $1,049

A couple spends around $5,666 per month in Reykjavik vs $1,635 in Asuncion, rent included.

Reykjavik $5,666
Asuncion $1,635

A family of three spends $7,295 per month in Reykjavik vs $2,221 in Asuncion, rent included.

Reykjavik $7,295
Asuncion $2,221

Reykjavik costs about 285% more than Asuncion, and outside of rent the biggest gap is in groceries.

Reykjavik sits 201% above the global median, while Asuncion is 22% below – they fall on opposite sides of the world average.

Meal at Budget Restaurant

$30.59 ISK 3,727

$6.66 ₲38.1K

359.31%

Three-Course Dinner for Two, Mid-Range

$136 ISK 16.5K

$43.46 ₲248.7K

211.80%

Fast Food Meal (McDonalds, etc)

$27.08 ISK 3,300

$6.63 ₲37.9K

308.45%

Cappuccino

$6.72 ISK 818

$3.44 ₲19.7K

95.35%

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

$3.27 ISK 399

$1.07 ₲6,096

205.61%

Water (0.33 liter bottle)

$3.16 ISK 386

$0.58 ₲3,325

444.83%

Local Beer (0.5 liter draught)

$13.91 ISK 1,695

$1.85 ₲10.6K

651.89%

Imported Beer (0.33 liter bottle)

$12.06 ISK 1,469

$1.70 ₲9,721

609.41%

Milk (1 liter)

$2.04 ISK 248

$1.25 ₲7,144

63.20%

White Bread (500g)

$4.32 ISK 526

$1.49 ₲8,516

189.93%

Rice (white) (1kg)

$3.67 ISK 447

$1.35 ₲7,707

171.85%

Eggs

$7.02 ISK 855

$2.32 ₲13.3K

202.59%

Local Cheese (1kg)

$22.01 ISK 2,682

$9.85 ₲56.4K

123.45%

Chicken Fillets (1kg)

$24.70 ISK 3,009

$5.20 ₲29.8K

375.00%

Beef Round Steak (1kg)

$42.66 ISK 5,198

$9.91 ₲56.7K

330.47%

Apples (1kg)

$3.37 ISK 411

$2.99 ₲17.1K

12.71%

Banana (1kg)

$2.85 ISK 347

$1.23 ₲7,017

131.71%

Oranges (1kg)

$3.17 ISK 387

$1.21 ₲6,921

161.98%

Tomato (1kg)

$6.39 ISK 779

$2.45 ₲14.0K

160.82%

Potato (1kg)

$4.01 ISK 489

$1.30 ₲7,464

208.46%

Onion (1kg)

$1.64 ISK 200

$1.34 ₲7,644

22.39%

Lettuce (1 head)

$3.80 ISK 462

$0.84 ₲4,784

352.38%

Water (1.5 liter bottle)

$1.74 ISK 212

$0.69 ₲3,957

152.17%

Cigarettes 20 Pack (Marlboro, Camel)

$13.80 ISK 1,681

$2.24 ₲12.8K

516.07%

Wine (Bottle)

$23.38 ISK 2,849

$9.02 ₲51.6K

159.20%

Local Beer (0.5 liter bottle)

$3.53 ISK 430

$1.33 ₲7,597

165.41%

Imported Beer (0.33 liter bottle)

$3.45 ISK 420

$1.68 ₲9,593

105.36%

One-way Ticket (Public Transport)

$5.77 ISK 703

$0.57 ₲3,238

912.28%

Public Transport Monthly Pass (Regular Price)

$95.1 ISK 11.6K

$38.02 ₲217.5K

150.24%

Taxi Start (Normal Tariff)

$6.63 ISK 808

$1.45 ₲8,289

357.24%

Taxi (Normal Tariff) (1km)

$2.79 ISK 340

$1.57 ₲9,008

77.71%

Taxi 1hour Waiting (Normal Tariff)

$81.4 ISK 9,915

$10.04 ₲57.4K

710.46%

Gasoline (1 liter)

$2.11 ISK 257

$1.21 ₲6,897

74.38%

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

$50.8K ISK 6.2M

$16.9K ₲96.9M

200.17%

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

$52.7K ISK 6.4M

$35.3K ₲202.2M

49.27%

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

$88.7 ISK 10.8K

$50.1 ₲286.6K

77.06%

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

$31.53 ISK 3,842

$16.94 ₲96.9K

86.13%

Internet (50+ Mbps, Unlimited Data)

$84.6 ISK 10.3K

$21.75 ₲124.5K

289.15%

Gym Membership (Monthly)

$100 ISK 12.2K

$36.50 ₲208.9K

175.01%

Tennis Court (1 Hour on Weekend)

$48.20 ISK 5,873

$14.89 ₲85.2K

223.71%

Cinema Ticket

$19.87 ISK 2,422

$8.59 ₲49.2K

131.32%

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

$1,277 ISK 155.7K

$184 ₲1.1M

593.45%

International Primary School, 1 Child (Yearly)

$31.0K ISK 3.8M

$5,873 ₲33.6M

426.97%

Jeans (Levis 501 Or Similar)

$161 ISK 19.6K

$62.4 ₲357.2K

157.66%

Summer Dress (H&M, Zara, etc)

$64.9 ISK 7,908

$55.4 ₲316.8K

17.23%

Sport Shoes (Adidas, Nike)

$183 ISK 22.3K

$104 ₲597.0K

75.06%

Men's Leather Business Shoes

$254 ISK 30.9K

$69.2 ₲395.8K

267.04%

1-bedroom Apartment, City Center (Monthly)

$2,499 ISK 304.6K

$620 ₲3.6M

302.81%

1-bedroom Apartment, Outside City Center (Monthly)

$2,000 ISK 243.7K

$373 ₲2.1M

436.04%

3-bedroom Apartment, City Center (Monthly)

$3,452 ISK 420.6K

$1,050 ₲6.0M

228.82%

3-bedroom Apartment, Outside City Center (Monthly)

$2,742 ISK 334.2K

$624 ₲3.6M

339.32%

Buy Apartment in City Center (m2)

$8,001 ISK 974.9K

$1,716 ₲9.8M

366.35%

Buy Apartment Outside City Center (m2)

$6,249 ISK 761.5K

$1,242 ₲7.1M

403.29%

Average Monthly Net Salary (After Tax)

$4,691 ISK 571.6K

$723 ₲4.1M

548.95%

20-Year Fixed Mortgage Interest Rate (Annual %)

8.81

10.15

-13.20%

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

Last update for Reykjavik: October 4, 2026

Last update for Asuncion: October 4, 2026

Monthly budget structure

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

Accommodation & Living

Reykjavik

$2K 50.9%

Asuncion

$373 35.8% 81.3% $1.6K

Groceries & Markets

Reykjavik

$625 15.9%

Asuncion

$213 20.4% 65.9% $412

Eating Out

Reykjavik

$526 13.4%

Asuncion

$134 12.8% 74.6% $392

Clothing & Footwear

Reykjavik

$298 7.6%

Asuncion

$131 12.6% 56% $167

Monthly Utilities & Internet

Reykjavik

$205 5.2%

Asuncion

$89 8.5% 56.7% $116

Sport & Entertainment

Reykjavik

$140 3.6%

Asuncion

$54 5.2% 61.7% $86

Getting Around

Reykjavik

$139 3.5%

Asuncion

$50 4.8% 64.3% $89

Cost Breakdown

A central one-bedroom costs $2,499 in Reykjavik versus $620 in Asuncion. 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 549% 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 $136 in Reykjavik versus $43.00 in Asuncion. Monthly groceries follow the same trend: $625 vs $213 – making Asuncion the more affordable choice for daily food spending.

Good to know

🇮🇸 Reykjavik

🇵🇾 Asuncion

🕒 Local time

01:59 1:59 AM

22:59 10:59 PM

3 h behind Reykjavik

🌤 Weather

👥 Population

136,894 Capital

742,023 Capital

💱 Currency

Icelandic Króna ISK kr

Paraguayan Guarani PYG ₲

📈 Exchange rate

1,000 ISK = 8.21 USD

1,000 ISK = 7.32 EUR

10,000 PYG = 1.75 USD

10,000 PYG = 1.56 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 = 8.21 USD). 1 EUR = 137 ISK (1,000 ISK = 7.32 EUR).

Paraguayan Guarani exchange rates as of October 10, 2026: 1 USD = 5,722 PYG (10,000 PYG = 1.75 USD). 1 EUR = 6,418 PYG (10,000 PYG = 1.56 EUR).

USD to ISK in detail →

On the map

Lowest

Highest

Between locations

Reykjavik Asuncion 10,420 km ≈ 14 h nonstop flight

From you

Reykjavik
Asuncion

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 Asuncion: Cost of Living - Frequently Asked Questions

Yes – Reykjavik is pricier by about 285%, and outside of rent the gap shows up most in groceries.

For a comfortable life, plan on about $6,055 per month in Reykjavik and $1,574 in Asuncion. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

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

Public transport costs about 150% less in Asuncion. For daily commuters, that gap adds up to noticeable savings over a year.

Kindergarten costs $1,277 per month in Reykjavik and $184 in Asuncion. For families with young kids, this one expense can tip the scales when choosing between the two cities.

A $1,500 monthly budget goes further in Asuncion, where all-in costs run around $1,049, than in Reykjavik at $4,037. In Asuncion it covers expenses comfortably, while in Reykjavik it requires careful planning or may not stretch far enough.

Families tend to lean toward Asuncion – 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 Asuncion. 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.