Last update: Oct 2026

Cost of Living Comparison Between Reykjavik and Encarnacion

For one person, living is cheaper in Encarnacion: $838 a month against $4,037 in Reykjavik, rent and utilities included – about $38,400 less a year. Rent and utilities account for about half of the difference.

193

Cost of Living Index in Reykjavik
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Reykjavik Living Index
40

Cost of Living Index in Encarnacion
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Encarnacion Living Index

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Reykjavik

🇮🇸 Iceland

$4,037

/mo nomad

Encarnacion

🇵🇾 Paraguay

$838

/mo nomad

Monthly Cost of Living

How much you'll spend in Reykjavik and in Encarnacion

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

Monthly costs for one person with rent: $4,037 in Reykjavik versus $838 in Encarnacion.

Reykjavik $4,037
Encarnacion $838

Estimated couple costs with rent: $5,666 in Reykjavik versus $1,272 in Encarnacion.

Reykjavik $5,666
Encarnacion $1,272

Monthly costs for a family of three with rent: $7,295 in Reykjavik versus $1,706 in Encarnacion.

Reykjavik $7,295
Encarnacion $1,706

Living in Reykjavik is roughly 382% more expensive than in Encarnacion, and outside of rent the biggest gap is in groceries.

The two cities straddle the global median: Reykjavik is 201% above, Encarnacion is 37% below.

Meal at Budget Restaurant

$30.59 ISK 3,730

$4.27 ₲24.2K

616.39%

Three-Course Dinner for Two, Mid-Range

$136 ISK 16.5K

$34.51 ₲195.9K

292.67%

Fast Food Meal (McDonalds, etc)

$27.08 ISK 3,302

$6.63 ₲37.7K

308.45%

Cappuccino

$6.72 ISK 819

$2.49 ₲14.1K

169.88%

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

$3.27 ISK 399

$1.48 ₲8,399

120.95%

Water (0.33 liter bottle)

$3.16 ISK 386

$0.51 ₲2,914

519.61%

Local Beer (0.5 liter draught)

$13.91 ISK 1,696

$0.96 ₲5,446

1348.96%

Imported Beer (0.33 liter bottle)

$12.06 ISK 1,470

$2.03 ₲11.5K

494.09%

Milk (1 liter)

$2.04 ISK 248

$1.07 ₲6,064

90.65%

White Bread (500g)

$4.32 ISK 527

$0.84 ₲4,768

414.29%

Rice (white) (1kg)

$3.67 ISK 447

$1.79 ₲10.2K

105.03%

Eggs

$7.02 ISK 856

$1.58 ₲8,972

344.30%

Local Cheese (1kg)

$22.01 ISK 2,684

$5.38 ₲30.5K

309.11%

Chicken Fillets (1kg)

$24.70 ISK 3,012

$3.25 ₲18.4K

660.00%

Beef Round Steak (1kg)

$42.66 ISK 5,202

$5.53 ₲31.4K

671.43%

Apples (1kg)

$3.37 ISK 412

$2.04 ₲11.6K

65.20%

Banana (1kg)

$2.85 ISK 347

$0.78 ₲4,426

265.38%

Oranges (1kg)

$3.17 ISK 387

$0.94 ₲5,351

237.23%

Tomato (1kg)

$6.39 ISK 779

$1.65 ₲9,386

287.27%

Potato (1kg)

$4.01 ISK 489

$0.90 ₲5,104

345.56%

Onion (1kg)

$1.64 ISK 200

$0.88 ₲4,977

86.36%

Lettuce (1 head)

$3.80 ISK 463

$0.56 ₲3,163

578.57%

Water (1.5 liter bottle)

$1.74 ISK 212

$0.50 ₲2,860

248.00%

Cigarettes 20 Pack (Marlboro, Camel)

$13.80 ISK 1,682

$1.52 ₲8,644

807.89%

Wine (Bottle)

$23.38 ISK 2,851

$5.39 ₲30.6K

333.77%

Local Beer (0.5 liter bottle)

$3.53 ISK 430

$0.82 ₲4,629

330.49%

Imported Beer (0.33 liter bottle)

$3.45 ISK 420

$1.47 ₲8,345

134.69%

One-way Ticket (Public Transport)

$5.77 ISK 704

$0.47 ₲2,658

1127.66%

Public Transport Monthly Pass (Regular Price)

$95.1 ISK 11.6K

$35.08 ₲199.1K

171.21%

Taxi Start (Normal Tariff)

$6.63 ISK 808

$1.33 ₲7,575

398.50%

Taxi (Normal Tariff) (1km)

$2.79 ISK 341

$0.71 ₲4,004

292.96%

Taxi 1hour Waiting (Normal Tariff)

$81.4 ISK 9,923

$6.72 ₲38.2K

1110.86%

Gasoline (1 liter)

$2.11 ISK 257

$1.21 ₲6,864

74.38%

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

$50.8K ISK 6.2M

$13.8K ₲78.2M

269.07%

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

$52.7K ISK 6.4M

$26.3K ₲149.5M

100.20%

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

$88.7 ISK 10.8K

$44.25 ₲251.2K

100.38%

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

$31.53 ISK 3,845

$13.05 ₲74.0K

141.61%

Internet (50+ Mbps, Unlimited Data)

$84.6 ISK 10.3K

$18.56 ₲105.3K

356.03%

Gym Membership (Monthly)

$100 ISK 12.2K

$30.43 ₲172.7K

229.87%

Tennis Court (1 Hour on Weekend)

$48.20 ISK 5,877

$13.15 ₲74.7K

266.54%

Cinema Ticket

$19.87 ISK 2,424

$5.92 ₲33.6K

235.64%

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

$1,277 ISK 155.8K

$195 ₲1.1M

553.64%

International Primary School, 1 Child (Yearly)

$31.0K ISK 3.8M

$3,335 ₲18.9M

828.15%

Jeans (Levis 501 Or Similar)

$161 ISK 19.6K

$57.2 ₲324.8K

181.13%

Summer Dress (H&M, Zara, etc)

$64.9 ISK 7,914

$28.13 ₲159.6K

130.71%

Sport Shoes (Adidas, Nike)

$183 ISK 22.3K

$67.6 ₲383.9K

170.06%

Men's Leather Business Shoes

$254 ISK 31.0K

$69.0 ₲391.9K

267.73%

1-bedroom Apartment, City Center (Monthly)

$2,499 ISK 304.8K

$503 ₲2.9M

396.49%

1-bedroom Apartment, Outside City Center (Monthly)

$2,000 ISK 243.9K

$324 ₲1.8M

517.02%

3-bedroom Apartment, City Center (Monthly)

$3,452 ISK 421.0K

$658 ₲3.7M

424.87%

3-bedroom Apartment, Outside City Center (Monthly)

$2,742 ISK 334.4K

$523 ₲3.0M

424.80%

Buy Apartment in City Center (m2)

$8,001 ISK 975.7K

$1,548 ₲8.8M

417.00%

Buy Apartment Outside City Center (m2)

$6,249 ISK 762.1K

$1,403 ₲8.0M

345.27%

Average Monthly Net Salary (After Tax)

$4,691 ISK 572.0K

$361 ₲2.0M

1200.07%

20-Year Fixed Mortgage Interest Rate (Annual %)

8.81

9.5

-7.26%

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

Last update for Reykjavik: October 4, 2026

Last update for Encarnacion: October 5, 2026

Monthly budget structure

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

Accommodation & Living

Reykjavik

$2K 50.9%

Encarnacion

$324 39.4% 83.8% $1.7K

Groceries & Markets

Reykjavik

$625 15.9%

Encarnacion

$139 16.9% 77.8% $486

Eating Out

Reykjavik

$526 13.4%

Encarnacion

$101 12.2% 80.8% $425

Clothing & Footwear

Reykjavik

$298 7.6%

Encarnacion

$100 12.1% 66.5% $198

Monthly Utilities & Internet

Reykjavik

$205 5.2%

Encarnacion

$76 9.2% 63% $129

Sport & Entertainment

Reykjavik

$140 3.6%

Encarnacion

$42 5.1% 69.8% $98

Getting Around

Reykjavik

$139 3.5%

Encarnacion

$42 5.1% 69.9% $97

Cost Breakdown

A one-bedroom apartment in the center runs $2,499 in Reykjavik and $503 in Encarnacion. Housing cost is often the main lever when comparing two cities.

Reykjavik pays 1200% 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: $136 in Reykjavik vs $35.00 in Encarnacion for a mid-range dinner for two. Groceries echo the gap at $625 vs $139 per month, with Encarnacion cheaper across the board.

Good to know

🇮🇸 Reykjavik

🇵🇾 Encarnacion

🕒 Local time

10:49 10:49 AM

07:49 7:49 AM

3 h behind Reykjavik

🌤 Weather

👥 Population

136,894 Capital

127,600

💱 Currency

Icelandic Króna ISK kr

Paraguayan Guarani PYG ₲

📈 Exchange rate

1,000 ISK = 8.2 USD

1,000 ISK = 7.32 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 = 7.32 EUR).

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).

USD to ISK in detail →

On the map

Lowest

Highest

Between locations

Reykjavik Encarnacion 10,590 km ≈ 14 h nonstop flight

From you

Reykjavik
Encarnacion

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 Encarnacion: Cost of Living - Frequently Asked Questions

Reykjavik and Encarnacion differ by about 382% in total monthly costs ($4,037 vs $838 including rent). Encarnacion is meaningfully more affordable – a gap that matters a lot on a fixed or modest income.

Average pay runs 1200% higher in Reykjavik, which matters when comparing affordability. Whether that higher income actually nets you more depends on your spending habits and housing choices.

Rent for a central apartment: $2,499 in Reykjavik versus $503 in Encarnacion. Housing is usually the single largest factor when comparing overall living costs between the two.

All in, you'll spend $4,037 per month in Reykjavik versus $838 in Encarnacion – a 382% gap that adds up to real savings over time for anyone picking the cheaper option.

A monthly transit pass in Encarnacion runs roughly 171% less than in Reykjavik. Both cities have functional networks, but the price difference matters if you're watching your budget.

At $838 in Encarnacion versus $4,037 in Reykjavik, a $2,000 budget is realistic in Encarnacion but tight or insufficient in Reykjavik. The gap between the two cities makes Encarnacion 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 Encarnacion 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 Encarnacion gentler on the wallet – expenses run 382% less than in Reykjavik. Beyond cost, consider language, visa policies, and how big the international community is in each city.