Last update: Oct 2026

Cost of Living Comparison Between Reykjavik and Luque

For one person, living is cheaper in Luque: $1,050 a month against $4,002 in Reykjavik, rent and utilities included – about $35,400 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 Luque
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Luque Living Index

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Reykjavik

🇮🇸 Iceland

$4,002

/mo nomad

Luque

🇵🇾 Paraguay

$1,050

/mo nomad

Monthly Cost of Living

How much you'll spend in Reykjavik and in Luque

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

A single person spends $4,002 per month in Reykjavik vs $1,050 in Luque, rent included.

Reykjavik $4,002
Luque $1,050

A couple spends around $5,705 per month in Reykjavik vs $1,582 in Luque, rent included.

Reykjavik $5,705
Luque $1,582

A family of three spends $7,407 per month in Reykjavik vs $2,115 in Luque, rent included.

Reykjavik $7,407
Luque $2,115

Reykjavik costs about 281% more than Luque, and outside of rent the biggest gap is in eating out.

Reykjavik sits 196% above the global median, while Luque is 22% below – they fall on opposite sides of the world average.

Meal at Budget Restaurant

$31.56 ISK 3,828

$4.41 ₲25.1K

615.65%

Three-Course Dinner for Two, Mid-Range

$122 ISK 14.8K

$35.23 ₲200.3K

247.29%

Fast Food Meal (McDonalds, etc)

$26.86 ISK 3,258

$5.17 ₲29.4K

419.54%

Cappuccino

$6.81 ISK 827

$3.40 ₲19.3K

100.29%

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

$3.39 ISK 411

$1.07 ₲6,078

216.82%

Water (0.33 liter bottle)

$3.20 ISK 388

$0.57 ₲3,265

461.40%

Local Beer (0.5 liter draught)

$14.14 ISK 1,715

$1.95 ₲11.1K

625.13%

Imported Beer (0.33 liter bottle)

$12.31 ISK 1,493

$1.80 ₲10.2K

583.89%

Milk (1 liter)

$2.10 ISK 255

$1.29 ₲7,347

62.79%

White Bread (500g)

$4.19 ISK 508

$1.53 ₲8,720

173.86%

Rice (white) (1kg)

$3.72 ISK 451

$1.40 ₲7,950

165.71%

Eggs

$7.05 ISK 856

$2.09 ₲11.9K

237.32%

Local Cheese (1kg)

$21.56 ISK 2,615

$10.18 ₲57.9K

111.79%

Chicken Fillets (1kg)

$24.68 ISK 2,993

$5.20 ₲29.6K

374.62%

Beef Round Steak (1kg)

$42.19 ISK 5,117

$10.19 ₲57.9K

314.03%

Apples (1kg)

$3.23 ISK 392

$3.01 ₲17.1K

7.31%

Banana (1kg)

$2.73 ISK 331

$1.25 ₲7,119

118.40%

Oranges (1kg)

$3.17 ISK 384

$1.25 ₲7,101

153.60%

Tomato (1kg)

$6.61 ISK 802

$2.47 ₲14.0K

167.61%

Potato (1kg)

$3.85 ISK 467

$1.35 ₲7,685

185.19%

Onion (1kg)

$1.66 ISK 201

$1.38 ₲7,853

20.29%

Lettuce (1 head)

$3.80 ISK 461

$0.91 ₲5,194

317.58%

Water (1.5 liter bottle)

$1.75 ISK 212

$0.78 ₲4,425

124.36%

Cigarettes 20 Pack (Marlboro, Camel)

$13.71 ISK 1,662

$2.30 ₲13.1K

496.09%

Wine (Bottle)

$24.21 ISK 2,937

$9.54 ₲54.2K

153.77%

Local Beer (0.5 liter bottle)

$3.53 ISK 428

$1.35 ₲7,682

161.48%

Imported Beer (0.33 liter bottle)

$3.32 ISK 402

$1.81 ₲10.3K

83.43%

One-way Ticket (Public Transport)

$5.75 ISK 697

$0.73 ₲4,153

687.67%

Public Transport Monthly Pass (Regular Price)

$93.8 ISK 11.4K

Taxi Start (Normal Tariff)

$6.61 ISK 802

$1.50 ₲8,529

340.67%

Taxi (Normal Tariff) (1km)

$2.90 ISK 352

$1.62 ₲9,191

79.01%

Taxi 1hour Waiting (Normal Tariff)

$79.2 ISK 9,602

$10.44 ₲59.4K

658.24%

Gasoline (1 liter)

$2.09 ISK 253

$1.29 ₲7,311

62.02%

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

$51.0K ISK 6.2M

$17.9K ₲101.8M

184.88%

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

$53.3K ISK 6.5M

$35.3K ₲200.6M

51.00%

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

$95.3 ISK 11.6K

$26.84 ₲152.6K

254.92%

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

$32.35 ISK 3,923

$17.64 ₲100.3K

83.39%

Internet (50+ Mbps, Unlimited Data)

$87.5 ISK 10.6K

$20.79 ₲118.2K

321.07%

Gym Membership (Monthly)

$102 ISK 12.4K

$49.51 ₲281.5K

105.74%

Tennis Court (1 Hour on Weekend)

$50.1 ISK 6,074

Cinema Ticket

$19.88 ISK 2,412

$8.65 ₲49.2K

129.83%

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

$1,194 ISK 144.8K

$184 ₲1.0M

547.74%

International Primary School, 1 Child (Yearly)

$25.4K ISK 3.1M

$4,747 ₲27.0M

435.30%

Jeans (Levis 501 Or Similar)

$149 ISK 18.1K

$64.0 ₲363.9K

132.86%

Summer Dress (H&M, Zara, etc)

$66.6 ISK 8,080

$57.6 ₲327.5K

15.68%

Sport Shoes (Adidas, Nike)

$180 ISK 21.8K

$107 ₲607.9K

68.25%

Men's Leather Business Shoes

$253 ISK 30.7K

$71.7 ₲407.6K

253.24%

1-bedroom Apartment, City Center (Monthly)

$2,549 ISK 309.2K

$440 ₲2.5M

478.84%

1-bedroom Apartment, Outside City Center (Monthly)

$2,056 ISK 249.4K

$440 ₲2.5M

367.13%

3-bedroom Apartment, City Center (Monthly)

$3,498 ISK 424.2K

$1,484 ₲8.4M

135.69%

3-bedroom Apartment, Outside City Center (Monthly)

$2,764 ISK 335.2K

$672 ₲3.8M

311.30%

Buy Apartment in City Center (m2)

$8,120 ISK 984.9K

$1,272 ₲7.2M

538.14%

Buy Apartment Outside City Center (m2)

$6,254 ISK 758.5K

Average Monthly Net Salary (After Tax)

$4,573 ISK 554.6K

$488 ₲2.8M

837.88%

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 12, 2026

Last update for Luque: October 13, 2026

Monthly budget structure

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

Accommodation & Living

Reykjavik

$2.1K 51.4%

Luque

$440 41.9% 78.6% $1.6K

Groceries & Markets

Reykjavik

$623 15.6%

Luque

$218 20.8% 64.9% $404

Eating Out

Reykjavik

$536 13.4%

Luque

$112 10.6% 79.2% $425

Clothing & Footwear

Reykjavik

$292 7.3%

Luque

$135 12.9% 53.7% $157

Monthly Utilities & Internet

Reykjavik

$215 5.4%

Luque

$65 6.2% 69.7% $150

Sport & Entertainment

Reykjavik

$142 3.5%

Luque

$67 6.4% 52.8% $75

Getting Around

Reykjavik

$138 3.5%

Luque

$13 * 1.2% 90.9% $125

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 $440 in Luque. 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 838% 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 $35.00 in Luque. Monthly groceries follow the same trend: $623 vs $218 – making Luque the more affordable choice for daily food spending.

Good to know

🇮🇸 Reykjavik

🇵🇾 Luque

🕒 Local time

21:48 9:48 PM

18:48 6:48 PM

3 h behind Reykjavik

🌤 Weather

👥 Population

136,894 Capital

224,000

💱 Currency

Icelandic Króna ISK kr

Paraguayan Guarani PYG ₲

📈 Exchange rate

1,000 ISK = 8.24 USD

1,000 ISK = 7.33 EUR

10,000 PYG = 1.76 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 17, 2026: 1 USD = 121 ISK (1,000 ISK = 8.24 USD). 1 EUR = 136 ISK (1,000 ISK = 7.33 EUR).

Paraguayan Guarani exchange rates as of October 17, 2026: 1 USD = 5,686 PYG (10,000 PYG = 1.76 USD). 1 EUR = 6,393 PYG (10,000 PYG = 1.56 EUR).

USD to ISK in detail →

On the map

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Highest

Between locations

Reykjavik Luque 10,410 km ≈ 14 h nonstop flight

From you

Reykjavik
Luque

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 Luque: Cost of Living - Frequently Asked Questions

Yes – Reykjavik is pricier by about 281%, and outside of rent the gap shows up most in eating out.

For a comfortable life, plan on about $6,003 per month in Reykjavik and $1,575 in Luque. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Rent is clearly cheaper in Luque, 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 $1,050 in Luque. That's a gap of about 281%.

Kindergarten costs $1,194 per month in Reykjavik and $184 in Luque. 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 Luque, where all-in costs run around $1,050, than in Reykjavik at $4,002. In Luque it covers expenses comfortably, while in Reykjavik it requires careful planning or may not stretch far enough.

Families tend to lean toward Luque – 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 Luque. 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.