Last update: Oct 2026

Cost of Living Comparison Between Reykjavik and Iquique

For one person, living is cheaper in Iquique: $999 a month against $4,002 in Reykjavik, rent and utilities included – about $36,000 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
49

Cost of Living Index in Iquique
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Iquique Living Index

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Reykjavik

🇮🇸 Iceland

$4,002

/mo nomad

Iquique

🇨🇱 Chile

$999

/mo nomad

Monthly Cost of Living

How much you'll spend in Reykjavik and in Iquique

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

Monthly costs for one person with rent: $4,002 in Reykjavik versus $999 in Iquique.

Reykjavik $4,002
Iquique $999

Estimated couple costs with rent: $5,705 in Reykjavik versus $1,590 in Iquique.

Reykjavik $5,705
Iquique $1,590

Monthly costs for a family of three with rent: $7,407 in Reykjavik versus $2,180 in Iquique.

Reykjavik $7,407
Iquique $2,180

Living in Reykjavik is roughly 301% more expensive than in Iquique, and outside of rent the biggest gap is in groceries.

The two cities straddle the global median: Reykjavik is 196% above, Iquique is 26% below.

Meal at Budget Restaurant

$31.56 ISK 3,828

$7.48 CLP 7,359

321.93%

Three-Course Dinner for Two, Mid-Range

$122 ISK 14.8K

$40.30 CLP 39.7K

203.60%

Fast Food Meal (McDonalds, etc)

$26.86 ISK 3,258

$7.04 CLP 6,934

281.53%

Cappuccino

$6.81 ISK 827

$3.44 CLP 3,384

97.97%

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

$3.39 ISK 411

$1.23 CLP 1,210

175.61%

Water (0.33 liter bottle)

$3.20 ISK 388

$0.95 CLP 937

236.84%

Local Beer (0.5 liter draught)

$14.14 ISK 1,715

$3.27 CLP 3,222

332.42%

Imported Beer (0.33 liter bottle)

$12.31 ISK 1,493

$3.61 CLP 3,552

241.00%

Milk (1 liter)

$2.10 ISK 255

$1.09 CLP 1,077

92.66%

White Bread (500g)

$4.19 ISK 508

$1.13 CLP 1,111

270.80%

Rice (white) (1kg)

$3.72 ISK 451

$1.31 CLP 1,285

183.97%

Eggs

$7.05 ISK 856

$3.02 CLP 2,972

133.44%

Local Cheese (1kg)

$21.56 ISK 2,615

$10.12 CLP 9,962

113.04%

Chicken Fillets (1kg)

$24.68 ISK 2,993

$10.05 CLP 9,896

145.57%

Beef Round Steak (1kg)

$42.19 ISK 5,117

Apples (1kg)

$3.23 ISK 392

$2.31 CLP 2,273

39.83%

Banana (1kg)

$2.73 ISK 331

$2.15 CLP 2,121

26.98%

Oranges (1kg)

$3.17 ISK 384

$1.51 CLP 1,484

109.93%

Tomato (1kg)

$6.61 ISK 802

$1.06 CLP 1,040

523.58%

Potato (1kg)

$3.85 ISK 467

$0.73 CLP 722

427.40%

Onion (1kg)

$1.66 ISK 201

$0.64 CLP 628

159.38%

Lettuce (1 head)

$3.80 ISK 461

$1.00 CLP 981

280.00%

Water (1.5 liter bottle)

$1.75 ISK 212

$1.35 CLP 1,326

29.63%

Cigarettes 20 Pack (Marlboro, Camel)

$13.71 ISK 1,662

$7.25 CLP 7,139

89.10%

Wine (Bottle)

$24.21 ISK 2,937

$7.86 CLP 7,734

208.02%

Local Beer (0.5 liter bottle)

$3.53 ISK 428

Imported Beer (0.33 liter bottle)

$3.32 ISK 402

$0.84 CLP 828

295.24%

One-way Ticket (Public Transport)

$5.75 ISK 697

$0.69 CLP 679

733.33%

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

$1.44 CLP 1,419

45.14%

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

$51.0K ISK 6.2M

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

$53.3K ISK 6.5M

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

$95.3 ISK 11.6K

$88.6 CLP 87.2K

7.48%

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

$32.35 ISK 3,923

$15.63 CLP 15.4K

106.97%

Internet (50+ Mbps, Unlimited Data)

$87.5 ISK 10.6K

$23.17 CLP 22.8K

277.82%

Gym Membership (Monthly)

$102 ISK 12.4K

$50.7 CLP 49.9K

100.91%

Tennis Court (1 Hour on Weekend)

$50.1 ISK 6,074

Cinema Ticket

$19.88 ISK 2,412

$6.91 CLP 6,803

187.70%

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

$1,194 ISK 144.8K

$254 CLP 249.8K

370.53%

International Primary School, 1 Child (Yearly)

$25.4K ISK 3.1M

Jeans (Levis 501 Or Similar)

$149 ISK 18.1K

$30.11 CLP 29.6K

394.95%

Summer Dress (H&M, Zara, etc)

$66.6 ISK 8,080

$23.04 CLP 22.7K

189.15%

Sport Shoes (Adidas, Nike)

$180 ISK 21.8K

$46.57 CLP 45.8K

286.26%

Men's Leather Business Shoes

$253 ISK 30.7K

$58.3 CLP 57.4K

334.30%

1-bedroom Apartment, City Center (Monthly)

$2,549 ISK 309.2K

$422 CLP 415.4K

503.98%

1-bedroom Apartment, Outside City Center (Monthly)

$2,056 ISK 249.4K

$382 CLP 375.7K

438.65%

3-bedroom Apartment, City Center (Monthly)

$3,498 ISK 424.2K

$683 CLP 671.9K

412.38%

3-bedroom Apartment, Outside City Center (Monthly)

$2,764 ISK 335.2K

$781 CLP 769.3K

253.65%

Buy Apartment in City Center (m2)

$8,120 ISK 984.9K

$1,718 CLP 1.7M

372.68%

Buy Apartment Outside City Center (m2)

$6,254 ISK 758.5K

$1,926 CLP 1.9M

224.75%

Average Monthly Net Salary (After Tax)

$4,573 ISK 554.6K

$958 CLP 943.5K

377.11%

20-Year Fixed Mortgage Interest Rate (Annual %)

8.81

7.5

17.47%

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

Last update for Reykjavik: October 12, 2026

Last update for Iquique: October 10, 2026

Monthly budget structure

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

Accommodation & Living

Reykjavik

$2.1K 51.4%

Iquique

$382 38.2% 81.4% $1.7K

Groceries & Markets

Reykjavik

$623 15.6%

Iquique

$197 * 19.7% 68.4% $426

Eating Out

Reykjavik

$536 13.4%

Iquique

$155 15.5% 71.2% $382

Clothing & Footwear

Reykjavik

$292 7.3%

Iquique

$71 7.1% 75.6% $221

Monthly Utilities & Internet

Reykjavik

$215 5.4%

Iquique

$127 12.8% 40.8% $88

Sport & Entertainment

Reykjavik

$142 3.5%

Iquique

$65 6.5% 54.4% $77

Getting Around

Reykjavik

$138 3.5%

Iquique

$2.8 * 0.3% 98% $135

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

Cost Breakdown

A one-bedroom apartment in the center runs $2,549 in Reykjavik and $422 in Iquique. Housing cost is often the main lever when comparing two cities.

Reykjavik pays 377% 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: $122 in Reykjavik vs $40.00 in Iquique for a mid-range dinner for two. Groceries echo the gap at $623 vs $197 per month, with Iquique cheaper across the board.

Good to know

🇮🇸 Reykjavik

🇨🇱 Iquique

🕒 Local time

14:49 2:49 PM

11:49 11:49 AM

3 h behind Reykjavik

🌤 Weather

👥 Population

136,894 Capital

188,003

💱 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 17, 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 17, 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 Iquique 10,250 km ≈ 13 h nonstop flight

From you

Reykjavik
Iquique

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 Iquique: Cost of Living - Frequently Asked Questions

Reykjavik and Iquique differ by about 301% in total monthly costs ($4,002 vs $999 including rent). Iquique is meaningfully more affordable – a gap that matters a lot on a fixed or modest income.

Average pay runs 377% 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: $2,549 in Reykjavik versus $422 in Iquique. Housing is usually the single largest factor when comparing overall living costs between the two.

Supermarket bills run roughly 216% higher in Reykjavik. For households that cook at home regularly, that difference adds up over a month.

All in, you'll spend $4,002 per month in Reykjavik versus $999 in Iquique – a 301% gap that adds up to real savings over time for anyone picking the cheaper option.

At $999 in Iquique versus $4,002 in Reykjavik, a $2,000 budget is realistic in Iquique but tight or insufficient in Reykjavik. The gap between the two cities makes Iquique 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 Iquique 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 Iquique gentler on the wallet – expenses run 301% less than in Reykjavik. Beyond cost, consider language, visa policies, and how big the international community is in each city.