Last update: Oct 2026

Cost of Living Comparison Between Reykjavik and Coquimbo

For one person, living is cheaper in Coquimbo: $555 a month against $4,023 in Reykjavik, rent and utilities included – about $41,600 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 Coquimbo
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Coquimbo Living Index

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Reykjavik

🇮🇸 Iceland

$4,023

/mo nomad

Coquimbo

🇨🇱 Chile

$555

/mo nomad

Monthly Cost of Living

How much you'll spend in Reykjavik and in Coquimbo

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

Monthly costs for one person with rent: $4,023 in Reykjavik versus $555 in Coquimbo.

Reykjavik $4,023
Coquimbo $555

Estimated couple costs with rent: $5,708 in Reykjavik versus $927 in Coquimbo.

Reykjavik $5,708
Coquimbo $927

Monthly costs for a family of three with rent: $7,393 in Reykjavik versus $1,300 in Coquimbo.

Reykjavik $7,393
Coquimbo $1,300

Living in Reykjavik is roughly 625% more expensive than in Coquimbo, and outside of rent the biggest gap is in groceries.

The two cities straddle the global median: Reykjavik is 197% above, Coquimbo is 59% below.

Meal at Budget Restaurant

$31.00 ISK 3,760

$6.84 CLP 6,737

353.22%

Three-Course Dinner for Two, Mid-Range

$123 ISK 14.9K

$46.62 CLP 45.9K

164.26%

Fast Food Meal (McDonalds, etc)

$27.21 ISK 3,300

$6.13 CLP 6,039

343.88%

Cappuccino

$6.90 ISK 837

$3.48 CLP 3,430

98.28%

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

$3.30 ISK 401

$1.14 CLP 1,125

189.47%

Water (0.33 liter bottle)

$3.16 ISK 384

$1.00 CLP 984

216.00%

Local Beer (0.5 liter draught)

$13.84 ISK 1,678

$4.15 CLP 4,081

233.49%

Imported Beer (0.33 liter bottle)

$12.46 ISK 1,512

$4.52 CLP 4,447

175.66%

Milk (1 liter)

$2.06 ISK 250

$1.01 CLP 992

103.96%

White Bread (500g)

$4.11 ISK 498

$3.11 CLP 3,060

32.15%

Rice (white) (1kg)

$3.68 ISK 446

$1.21 CLP 1,193

204.13%

Eggs

$7.27 ISK 882

$2.62 CLP 2,583

177.48%

Local Cheese (1kg)

$21.79 ISK 2,643

$8.14 CLP 8,010

167.69%

Chicken Fillets (1kg)

$23.95 ISK 2,905

Beef Round Steak (1kg)

$41.43 ISK 5,025

Apples (1kg)

$3.42 ISK 414

$1.35 CLP 1,331

153.33%

Banana (1kg)

$2.84 ISK 344

$1.82 CLP 1,796

56.04%

Oranges (1kg)

$3.23 ISK 391

$0.99 CLP 977

226.26%

Tomato (1kg)

$6.46 ISK 783

$0.99 CLP 975

552.53%

Potato (1kg)

$4.05 ISK 491

Onion (1kg)

$1.66 ISK 202

$1.26 CLP 1,245

31.75%

Lettuce (1 head)

$3.86 ISK 468

$0.60 CLP 587

543.33%

Water (1.5 liter bottle)

$1.84 ISK 223

$1.31 CLP 1,292

40.46%

Cigarettes 20 Pack (Marlboro, Camel)

$13.96 ISK 1,693

$5.05 CLP 4,971

176.44%

Wine (Bottle)

$23.76 ISK 2,882

$8.21 CLP 8,079

189.40%

Local Beer (0.5 liter bottle)

$3.54 ISK 430

Imported Beer (0.33 liter bottle)

$3.44 ISK 418

$4.63 CLP 4,562

-25.70%

One-way Ticket (Public Transport)

$5.81 ISK 705

$0.84 CLP 830

591.67%

Public Transport Monthly Pass (Regular Price)

$95.3 ISK 11.6K

Taxi Start (Normal Tariff)

$6.72 ISK 815

Taxi (Normal Tariff) (1km)

$2.81 ISK 340

Taxi 1hour Waiting (Normal Tariff)

$81.3 ISK 9,866

Gasoline (1 liter)

$2.12 ISK 257

$1.35 CLP 1,327

57.04%

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

$68.9K ISK 8.4M

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

$55.8K ISK 6.8M

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

$95.8 ISK 11.6K

$102 CLP 100.3K

-5.94%

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

$33.11 ISK 4,016

$12.45 CLP 12.3K

165.94%

Internet (50+ Mbps, Unlimited Data)

$87.2 ISK 10.6K

Gym Membership (Monthly)

$101 ISK 12.3K

$25.08 CLP 24.7K

303.03%

Tennis Court (1 Hour on Weekend)

$50.7 ISK 6,155

$5.01 CLP 4,929

912.77%

Cinema Ticket

$19.85 ISK 2,407

$4.03 CLP 3,965

392.56%

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

$1,195 ISK 144.9K

$259 CLP 255.0K

361.17%

International Primary School, 1 Child (Yearly)

$26.2K ISK 3.2M

$29.0K CLP 28.5M

-9.56%

Jeans (Levis 501 Or Similar)

$148 ISK 18.0K

$46.90 CLP 46.2K

216.12%

Summer Dress (H&M, Zara, etc)

$66.8 ISK 8,096

$25.18 CLP 24.8K

165.09%

Sport Shoes (Adidas, Nike)

$187 ISK 22.6K

$61.2 CLP 60.2K

205.07%

Men's Leather Business Shoes

$253 ISK 30.6K

$81.2 CLP 79.9K

211.20%

1-bedroom Apartment, City Center (Monthly)

$2,579 ISK 312.8K

1-bedroom Apartment, Outside City Center (Monthly)

$2,080 ISK 252.3K

3-bedroom Apartment, City Center (Monthly)

$3,455 ISK 419.0K

3-bedroom Apartment, Outside City Center (Monthly)

$2,752 ISK 333.8K

Buy Apartment in City Center (m2)

$7,933 ISK 962.2K

Buy Apartment Outside City Center (m2)

$6,377 ISK 773.5K

Average Monthly Net Salary (After Tax)

$4,695 ISK 569.5K

$602 CLP 592.4K

680.14%

20-Year Fixed Mortgage Interest Rate (Annual %)

8.81

76.20%

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

Last update for Reykjavik: October 20, 2026

Last update for Coquimbo: October 17, 2026

Monthly budget structure

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

Accommodation & Living

Reykjavik

$2.1K 51.7%

Coquimbo

- * 0% 100%

Groceries & Markets

Reykjavik

$619 15.4%

Coquimbo

$154 * 27.8% 75.1% $465

Eating Out

Reykjavik

$532 13.2%

Coquimbo

$153 27.7% 71.2% $379

Clothing & Footwear

Reykjavik

$294 7.3%

Coquimbo

$96 17.4% 67.2% $198

Monthly Utilities & Internet

Reykjavik

$216 5.4%

Coquimbo

$114 * 20.6% 47.1% $102

Sport & Entertainment

Reykjavik

$141 3.5%

Coquimbo

$33 6% 76.5% $108

Getting Around

Reykjavik

$139 3.5%

Coquimbo

$3.4 * 0.6% 97.6% $136

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

Cost Breakdown

Reykjavik pays 680% more on average. The extra income cushions the higher costs, though housing choices and lifestyle decide how much of the gap is truly closed.

Dining out: $123 in Reykjavik vs $47.00 in Coquimbo for a mid-range dinner for two. Groceries echo the gap at $619 vs $154 per month, with Coquimbo cheaper across the board.

Good to know

🇮🇸 Reykjavik

🇨🇱 Coquimbo

🕒 Local time

14:21 2:21 PM

11:21 11:21 AM

3 h behind Reykjavik

🌤 Weather

👥 Population

136,894 Capital

204,068

💱 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 20, 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 20, 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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Between locations

Reykjavik Coquimbo 11,310 km ≈ 15 h nonstop flight

From you

Reykjavik
Coquimbo

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 Coquimbo: Cost of Living - Frequently Asked Questions

Reykjavik and Coquimbo differ by about 625% in total monthly costs ($4,023 vs $555 including rent). Coquimbo is meaningfully more affordable – a gap that matters a lot on a fixed or modest income.

Average pay runs 680% higher in Reykjavik, which matters when comparing affordability. Whether that higher income actually nets you more depends on your spending habits and housing choices.

Childcare runs $1,195 in Reykjavik versus $259 in Coquimbo. Over years of preschool, even a modest monthly gap compounds into a major financial factor for families.

Dining out is cheaper in Coquimbo – a meal for two runs $47.00 versus $123 in Reykjavik. If you eat out regularly, this makes a real dent in your monthly spending.

At $555 in Coquimbo versus $4,023 in Reykjavik, a $2,000 budget is realistic in Coquimbo but tight or insufficient in Reykjavik. The gap between the two cities makes Coquimbo the clear choice for anyone on this budget.

Both cities offer a good standard of living with different trade-offs. Neither is objectively better – the right pick depends on what matters most: affordability, career, cultural scene, or climate.

Safety-wise, Reykjavik and Coquimbo 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 Coquimbo gentler on the wallet – expenses run 625% less than in Reykjavik. Beyond cost, consider language, visa policies, and how big the international community is in each city.