Last update: Oct 2026

Cost of Living Comparison Between Reykjavik and Mexico City

For one person, living is cheaper in Mexico City: $1,567 a month against $4,002 in Reykjavik, rent and utilities included – about $29,200 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
76

Cost of Living Index in Mexico City
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Mexico City Living Index

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Reykjavik

🇮🇸 Iceland

$4,002

/mo nomad

Mexico City

🇲🇽 Mexico

$1,567

/mo nomad

Monthly Cost of Living

How much you'll spend in Reykjavik and in Mexico City

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

Monthly costs for one person with rent: $4,002 in Reykjavik versus $1,567 in Mexico City.

Reykjavik $4,002
Mexico City $1,567

Estimated couple costs with rent: $5,705 in Reykjavik versus $2,450 in Mexico City.

Reykjavik $5,705
Mexico City $2,450

Monthly costs for a family of three with rent: $7,407 in Reykjavik versus $3,333 in Mexico City.

Reykjavik $7,407
Mexico City $3,333

Living in Reykjavik is roughly 155% more expensive than in Mexico City, and outside of rent the biggest gap is in eating out.

Both cities are pricier than the global median: Reykjavik 196% above, Mexico City 16% above.

Meal at Budget Restaurant

$31.56 ISK 3,828

$10.75 MX$199

193.58%

Three-Course Dinner for Two, Mid-Range

$122 ISK 14.8K

$50.3 MX$929

143.48%

Fast Food Meal (McDonalds, etc)

$26.86 ISK 3,258

$11.10 MX$205

141.98%

Cappuccino

$6.81 ISK 827

$3.68 MX$68.1

85.05%

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

$3.39 ISK 411

$1.65 MX$30.42

105.45%

Water (0.33 liter bottle)

$3.20 ISK 388

$1.30 MX$24.08

146.15%

Local Beer (0.5 liter draught)

$14.14 ISK 1,715

$3.32 MX$61.3

325.90%

Imported Beer (0.33 liter bottle)

$12.31 ISK 1,493

$5.54 MX$102

122.20%

Milk (1 liter)

$2.10 ISK 255

$1.77 MX$32.68

18.64%

White Bread (500g)

$4.19 ISK 508

$3.05 MX$56.4

37.38%

Rice (white) (1kg)

$3.72 ISK 451

$2.01 MX$37.20

85.07%

Eggs

$7.05 ISK 856

$2.77 MX$51.1

154.51%

Local Cheese (1kg)

$21.56 ISK 2,615

$11.91 MX$220

81.02%

Chicken Fillets (1kg)

$24.68 ISK 2,993

$9.33 MX$172

164.52%

Beef Round Steak (1kg)

$42.19 ISK 5,117

$15.02 MX$278

180.89%

Apples (1kg)

$3.23 ISK 392

$3.08 MX$56.8

4.87%

Banana (1kg)

$2.73 ISK 331

$1.95 MX$35.97

40.00%

Oranges (1kg)

$3.17 ISK 384

$2.03 MX$37.54

56.16%

Tomato (1kg)

$6.61 ISK 802

$2.21 MX$40.92

199.10%

Potato (1kg)

$3.85 ISK 467

$2.02 MX$37.41

90.59%

Onion (1kg)

$1.66 ISK 201

$1.82 MX$33.67

-8.79%

Lettuce (1 head)

$3.80 ISK 461

$1.52 MX$28.07

150.00%

Water (1.5 liter bottle)

$1.75 ISK 212

$1.28 MX$23.65

36.72%

Cigarettes 20 Pack (Marlboro, Camel)

$13.71 ISK 1,662

$5.27 MX$97.4

160.15%

Wine (Bottle)

$24.21 ISK 2,937

$16.12 MX$298

50.19%

Local Beer (0.5 liter bottle)

$3.53 ISK 428

$1.95 MX$36.05

81.03%

Imported Beer (0.33 liter bottle)

$3.32 ISK 402

$4.25 MX$78.6

-21.88%

One-way Ticket (Public Transport)

$5.75 ISK 697

$0.31 MX$5.82

1754.84%

Public Transport Monthly Pass (Regular Price)

$93.8 ISK 11.4K

$19.85 MX$367

372.59%

Taxi Start (Normal Tariff)

$6.61 ISK 802

$2.00 MX$36.93

230.50%

Taxi (Normal Tariff) (1km)

$2.90 ISK 352

$0.53 MX$9.86

447.17%

Taxi 1hour Waiting (Normal Tariff)

$79.2 ISK 9,602

$5.62 MX$104

1308.54%

Gasoline (1 liter)

$2.09 ISK 253

$1.52 MX$28.07

37.50%

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

$51.0K ISK 6.2M

$21.0K MX$388.7K

142.55%

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

$53.3K ISK 6.5M

$25.2K MX$465.3K

111.57%

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

$95.3 ISK 11.6K

$62.5 MX$1,155

52.44%

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

$32.35 ISK 3,923

$28.77 MX$532

12.44%

Internet (50+ Mbps, Unlimited Data)

$87.5 ISK 10.6K

$34.45 MX$637

154.11%

Gym Membership (Monthly)

$102 ISK 12.4K

$57.1 MX$1,055

78.39%

Tennis Court (1 Hour on Weekend)

$50.1 ISK 6,074

$24.81 MX$458

101.85%

Cinema Ticket

$19.88 ISK 2,412

$6.67 MX$123

198.05%

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

$1,194 ISK 144.8K

$431 MX$7,964

177.06%

International Primary School, 1 Child (Yearly)

$25.4K ISK 3.1M

$11.7K MX$216.9K

116.44%

Jeans (Levis 501 Or Similar)

$149 ISK 18.1K

$70.8 MX$1,308

110.52%

Summer Dress (H&M, Zara, etc)

$66.6 ISK 8,080

$51.8 MX$958

28.54%

Sport Shoes (Adidas, Nike)

$180 ISK 21.8K

$109 MX$2,011

65.27%

Men's Leather Business Shoes

$253 ISK 30.7K

$112 MX$2,076

125.46%

1-bedroom Apartment, City Center (Monthly)

$2,549 ISK 309.2K

$1,051 MX$19.4K

142.49%

1-bedroom Apartment, Outside City Center (Monthly)

$2,056 ISK 249.4K

$665 MX$12.3K

209.16%

3-bedroom Apartment, City Center (Monthly)

$3,498 ISK 424.2K

$2,346 MX$43.3K

49.10%

3-bedroom Apartment, Outside City Center (Monthly)

$2,764 ISK 335.2K

$1,227 MX$22.7K

125.33%

Buy Apartment in City Center (m2)

$8,120 ISK 984.9K

$3,554 MX$65.7K

128.50%

Buy Apartment Outside City Center (m2)

$6,254 ISK 758.5K

$1,977 MX$36.5K

216.32%

Average Monthly Net Salary (After Tax)

$4,573 ISK 554.6K

$975 MX$18.0K

369.18%

20-Year Fixed Mortgage Interest Rate (Annual %)

8.81

11.3

-22.04%

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

Last update for Reykjavik: October 12, 2026

Last update for Mexico City: October 11, 2026

Monthly budget structure

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

Accommodation & Living

Reykjavik

$2.1K 51.4%

Mexico City

$665 42.4% 67.7% $1.4K

Groceries & Markets

Reykjavik

$623 15.6%

Mexico City

$323 20.6% 48.2% $300

Eating Out

Reykjavik

$536 13.4%

Mexico City

$203 13% 62.2% $333

Clothing & Footwear

Reykjavik

$292 7.3%

Mexico City

$155 9.9% 47% $137

Monthly Utilities & Internet

Reykjavik

$215 5.4%

Mexico City

$126 8% 41.6% $89

Sport & Entertainment

Reykjavik

$142 3.5%

Mexico City

$70 4.5% 50.3% $71

Getting Around

Reykjavik

$138 3.5%

Mexico City

$26 1.6% 81.3% $112

Cost Breakdown

A one-bedroom apartment in the center runs $2,549 in Reykjavik and $1,051 in Mexico City. Housing cost is often the main lever when comparing two cities.

Reykjavik pays 369% 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 $50.0 in Mexico City for a mid-range dinner for two. Groceries echo the gap at $623 vs $323 per month, with Mexico City cheaper across the board.

Good to know

🇮🇸 Reykjavik

🇲🇽 Mexico City

🕒 Local time

08:50 8:50 AM

02:50 2:50 AM

6 h behind Reykjavik

🌤 Weather

👥 Population

136,894 Capital

9,209,944 Capital

💱 Currency

Icelandic Króna ISK kr

Mexican Peso MXN $

📈 Exchange rate

1,000 ISK = 8.24 USD

1,000 ISK = 7.33 EUR

100 MXN = 5.41 USD

100 MXN = 4.81 EUR

Exchange rates and currency converter

MXN, USD, EUR to ISK – Icelandic Króna Converter

🇺🇸 United States Dollar ($)

🇮🇸 Icelandic Króna (kr)

Icelandic Króna exchange rates as of October 19, 2026: 1 USD = 121 ISK (1,000 ISK = 8.24 USD). 1 EUR = 136 ISK (1,000 ISK = 7.33 EUR).

Mexican Peso exchange rates as of October 19, 2026: 1 USD = 18.48 MXN (100 MXN = 5.41 USD). 1 EUR = 20.77 MXN (100 MXN = 4.81 EUR).

USD to ISK in detail →

On the map

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Between locations

Reykjavik Mexico City 7,450 km ≈ 10 h nonstop flight

From you

Reykjavik
Mexico City

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 Mexico City: Cost of Living - Frequently Asked Questions

Reykjavik and Mexico City differ by about 155% in total monthly costs ($4,002 vs $1,567 including rent). Mexico City is meaningfully more affordable – a gap that matters a lot on a fixed or modest income.

Average pay runs 369% 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 $1,051 in Mexico City. Housing is usually the single largest factor when comparing overall living costs between the two.

A monthly transit pass in Mexico City runs roughly 373% less than in Reykjavik. Both cities have functional networks, but the price difference matters if you're watching your budget.

Childcare runs $1,194 in Reykjavik versus $431 in Mexico City. Over years of preschool, even a modest monthly gap compounds into a major financial factor for families.

At $1,567 in Mexico City versus $4,002 in Reykjavik, a $2,000 budget is realistic in Mexico City but tight or insufficient in Reykjavik. The gap between the two cities makes Mexico City 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 Mexico City 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 Mexico City gentler on the wallet – expenses run 155% less than in Reykjavik. Beyond cost, consider language, visa policies, and how big the international community is in each city.