Last update: Oct 2026

Cost of Living Comparison Between Reykjavik and Castro

For one person, living is cheaper in Castro: $875 a month against $4,002 in Reykjavik, rent and utilities included – about $37,500 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
50

Cost of Living Index in Castro
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Castro Living Index

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Reykjavik

🇮🇸 Iceland

$4,002

/mo nomad

Castro

🇨🇱 Chile

$875

/mo nomad

Monthly Cost of Living

How much you'll spend in Reykjavik and in Castro

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

A single person spends $4,002 per month in Reykjavik vs $875 in Castro, rent included.

Reykjavik $4,002
Castro $875

A couple spends around $5,705 per month in Reykjavik vs $1,381 in Castro, rent included.

Reykjavik $5,705
Castro $1,381

A family of three spends $7,407 per month in Reykjavik vs $1,887 in Castro, rent included.

Reykjavik $7,407
Castro $1,887

Reykjavik costs about 357% more than Castro, and outside of rent the biggest gap is in groceries.

Reykjavik sits 196% above the global median, while Castro is 35% below – they fall on opposite sides of the world average.

Meal at Budget Restaurant

$31.56 ISK 3,828

$8.29 CLP 8,163

280.70%

Three-Course Dinner for Two, Mid-Range

$122 ISK 14.8K

$46.10 CLP 45.4K

165.40%

Fast Food Meal (McDonalds, etc)

$26.86 ISK 3,258

$5.66 CLP 5,568

374.56%

Cappuccino

$6.81 ISK 827

$1.49 CLP 1,464

357.05%

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

$3.39 ISK 411

$1.20 CLP 1,181

182.50%

Water (0.33 liter bottle)

$3.20 ISK 388

$1.01 CLP 990

216.83%

Local Beer (0.5 liter draught)

$14.14 ISK 1,715

$5.15 CLP 5,066

174.56%

Imported Beer (0.33 liter bottle)

$12.31 ISK 1,493

$7.29 CLP 7,173

68.86%

Milk (1 liter)

$2.10 ISK 255

$1.08 CLP 1,065

94.44%

White Bread (500g)

$4.19 ISK 508

$3.51 CLP 3,451

19.37%

Rice (white) (1kg)

$3.72 ISK 451

$1.25 CLP 1,232

197.60%

Eggs

$7.05 ISK 856

$4.12 CLP 4,056

71.12%

Local Cheese (1kg)

$21.56 ISK 2,615

$9.67 CLP 9,523

122.96%

Chicken Fillets (1kg)

$24.68 ISK 2,993

$4.03 CLP 3,965

512.41%

Beef Round Steak (1kg)

$42.19 ISK 5,117

$8.49 CLP 8,358

396.94%

Apples (1kg)

$3.23 ISK 392

$1.40 CLP 1,373

130.71%

Banana (1kg)

$2.73 ISK 331

$2.30 CLP 2,268

18.70%

Oranges (1kg)

$3.17 ISK 384

$1.48 CLP 1,461

114.19%

Tomato (1kg)

$6.61 ISK 802

$1.98 CLP 1,947

233.84%

Potato (1kg)

$3.85 ISK 467

$1.13 CLP 1,109

240.71%

Onion (1kg)

$1.66 ISK 201

Lettuce (1 head)

$3.80 ISK 461

$1.52 CLP 1,494

150.00%

Water (1.5 liter bottle)

$1.75 ISK 212

$1.56 CLP 1,531

12.18%

Cigarettes 20 Pack (Marlboro, Camel)

$13.71 ISK 1,662

$3.75 CLP 3,688

265.60%

Wine (Bottle)

$24.21 ISK 2,937

$7.78 CLP 7,662

211.18%

Local Beer (0.5 liter bottle)

$3.53 ISK 428

$1.00 CLP 987

253.00%

Imported Beer (0.33 liter bottle)

$3.32 ISK 402

$3.13 CLP 3,085

6.07%

One-way Ticket (Public Transport)

$5.75 ISK 697

$0.66 CLP 654

771.21%

Public Transport Monthly Pass (Regular Price)

$93.8 ISK 11.4K

Taxi Start (Normal Tariff)

$6.61 ISK 802

Taxi (Normal Tariff) (1km)

$2.90 ISK 352

Taxi 1hour Waiting (Normal Tariff)

$79.2 ISK 9,602

Gasoline (1 liter)

$2.09 ISK 253

$1.30 CLP 1,282

60.77%

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

$51.0K ISK 6.2M

$15.5K CLP 15.2M

229.99%

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

$53.3K ISK 6.5M

$18.2K CLP 17.9M

192.37%

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

$95.3 ISK 11.6K

$131 CLP 128.8K

-27.20%

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

$32.35 ISK 3,923

Internet (50+ Mbps, Unlimited Data)

$87.5 ISK 10.6K

$31.25 CLP 30.8K

180.13%

Gym Membership (Monthly)

$102 ISK 12.4K

Tennis Court (1 Hour on Weekend)

$50.1 ISK 6,074

Cinema Ticket

$19.88 ISK 2,412

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

$1,194 ISK 144.8K

International Primary School, 1 Child (Yearly)

$25.4K ISK 3.1M

Jeans (Levis 501 Or Similar)

$149 ISK 18.1K

Summer Dress (H&M, Zara, etc)

$66.6 ISK 8,080

Sport Shoes (Adidas, Nike)

$180 ISK 21.8K

$81.0 CLP 79.7K

122.13%

Men's Leather Business Shoes

$253 ISK 30.7K

1-bedroom Apartment, City Center (Monthly)

$2,549 ISK 309.2K

$355 CLP 349.2K

618.53%

1-bedroom Apartment, Outside City Center (Monthly)

$2,056 ISK 249.4K

$290 CLP 285.5K

608.86%

3-bedroom Apartment, City Center (Monthly)

$3,498 ISK 424.2K

$1,002 CLP 986.6K

248.97%

3-bedroom Apartment, Outside City Center (Monthly)

$2,764 ISK 335.2K

$576 CLP 566.8K

379.97%

Buy Apartment in City Center (m2)

$8,120 ISK 984.9K

Buy Apartment Outside City Center (m2)

$6,254 ISK 758.5K

Average Monthly Net Salary (After Tax)

$4,573 ISK 554.6K

$614 CLP 604.7K

644.43%

20-Year Fixed Mortgage Interest Rate (Annual %)

8.81

25.86%

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

Last update for Reykjavik: October 12, 2026

Last update for Castro: October 13, 2026

Monthly budget structure

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

Accommodation & Living

Reykjavik

$2.1K 51.4%

Castro

$290 33.2% 85.9% $1.8K

Groceries & Markets

Reykjavik

$623 15.6%

Castro

$234 * 26.7% 62.5% $389

Eating Out

Reykjavik

$536 13.4%

Castro

$150 17.2% 72% $386

Clothing & Footwear

Reykjavik

$292 7.3%

Castro

$36 * 4.2% 87.5% $256

Monthly Utilities & Internet

Reykjavik

$215 5.4%

Castro

$162 * 18.5% 24.7% $53

Sport & Entertainment

Reykjavik

$142 3.5%

Castro

- * 0% 100%

Getting Around

Reykjavik

$138 3.5%

Castro

$2.7 * 0.3% 98.1% $135

Categories marked with * are only partly priced – their share counts the items that do have prices.

Cost Breakdown

A central one-bedroom costs $2,549 in Reykjavik versus $355 in Castro. 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 644% 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 $122 in Reykjavik versus $46.00 in Castro. Monthly groceries follow the same trend: $623 vs $234 – making Castro the more affordable choice for daily food spending.

Good to know

🇮🇸 Reykjavik

🇨🇱 Castro

🕒 Local time

06:03 6:03 AM

03:03 3:03 AM

3 h behind Reykjavik

🌤 Weather

👥 Population

136,894 Capital

33,417

💱 Currency

Icelandic Króna ISK kr

Chilean Peso CLP $

📈 Exchange rate

1,000 ISK = 8.24 USD

1,000 ISK = 7.33 EUR

10,000 CLP = 10.16 USD

10,000 CLP = 9.04 EUR

Exchange rates and currency converter

CLP, USD, EUR to ISK – Icelandic Króna Converter

🇺🇸 United States Dollar ($)

🇮🇸 Icelandic Króna (kr)

Icelandic Króna exchange rates as of October 18, 2026: 1 USD = 121 ISK (1,000 ISK = 8.24 USD). 1 EUR = 136 ISK (1,000 ISK = 7.33 EUR).

Chilean Peso exchange rates as of October 18, 2026: 1 USD = 984 CLP (1,000 CLP = 1.02 USD). 1 EUR = 1,107 CLP (10,000 CLP = 9.04 EUR).

USD to ISK in detail →

On the map

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Highest

Between locations

Reykjavik Castro 12,690 km ≈ 16 h nonstop flight

From you

Reykjavik
Castro

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 Castro: Cost of Living - Frequently Asked Questions

Reykjavik costs about 357% more than Castro, and outside of rent the gap comes mainly from groceries. That's enough to noticeably affect everyday spending and lifestyle for anyone choosing between the two.

For a comfortable life, plan on about $6,003 per month in Reykjavik and $1,313 in Castro. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

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

Monthly expenses with rent come to $4,002 in Reykjavik and $875 in Castro. That's a gap of about 357%.

Groceries cost about 167% 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 $1,000 monthly budget goes further in Castro, where all-in costs run around $875, than in Reykjavik at $4,002. In Castro it covers expenses comfortably, while in Reykjavik it requires careful planning or may not stretch far enough.

For digital nomads, it depends on budget. Castro costs $875 versus $4,002 in Reykjavik. Both have workable remote work infrastructure, but the cost gap matters when income varies month to month.

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 Castro. 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.