Last update: Oct 2026

Cost of Living Comparison Between Reykjavik and Minas

For one person, living is cheaper in Minas: $1,069 a month against $4,023 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
52

Cost of Living Index in Minas
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Minas Living Index

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Reykjavik

🇮🇸 Iceland

$4,023

/mo nomad

Minas

🇺🇾 Uruguay

$1,069

/mo nomad

Monthly Cost of Living

How much you'll spend in Reykjavik and in Minas

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

A single person spends $4,023 per month in Reykjavik vs $1,069 in Minas, rent included.

Reykjavik $4,023
Minas $1,069

A couple spends around $5,708 per month in Reykjavik vs $1,734 in Minas, rent included.

Reykjavik $5,708
Minas $1,734

A family of three spends $7,393 per month in Reykjavik vs $2,400 in Minas, rent included.

Reykjavik $7,393
Minas $2,400

Reykjavik costs about 276% more than Minas, and outside of rent the biggest gap is in groceries.

Reykjavik sits 197% above the global median, while Minas is 21% below – they fall on opposite sides of the world average.

Meal at Budget Restaurant

$31.00 ISK 3,760

$14.86 UYU 597

108.61%

Three-Course Dinner for Two, Mid-Range

$123 ISK 14.9K

$69.7 UYU 2,799

76.66%

Fast Food Meal (McDonalds, etc)

$27.21 ISK 3,300

$14.61 UYU 586

86.24%

Cappuccino

$6.90 ISK 837

$4.66 UYU 187

48.07%

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

$3.30 ISK 401

$2.77 UYU 111

19.13%

Water (0.33 liter bottle)

$3.16 ISK 384

$2.01 UYU 80.7

57.21%

Local Beer (0.5 liter draught)

$13.84 ISK 1,678

$4.87 UYU 196

184.19%

Imported Beer (0.33 liter bottle)

$12.46 ISK 1,512

$3.84 UYU 154

224.48%

Milk (1 liter)

$2.06 ISK 250

$1.39 UYU 55.8

48.20%

White Bread (500g)

$4.11 ISK 498

$2.90 UYU 116

41.72%

Rice (white) (1kg)

$3.68 ISK 446

$1.72 UYU 69.1

113.95%

Eggs

$7.27 ISK 882

$4.61 UYU 185

57.70%

Local Cheese (1kg)

$21.79 ISK 2,643

$14.12 UYU 567

54.32%

Chicken Fillets (1kg)

$23.95 ISK 2,905

$11.33 UYU 455

111.39%

Beef Round Steak (1kg)

$41.43 ISK 5,025

$12.00 UYU 482

245.25%

Apples (1kg)

$3.42 ISK 414

$2.86 UYU 115

19.58%

Banana (1kg)

$2.84 ISK 344

$2.82 UYU 113

0.71%

Oranges (1kg)

$3.23 ISK 391

$1.73 UYU 69.5

86.71%

Tomato (1kg)

$6.46 ISK 783

$3.09 UYU 124

109.06%

Potato (1kg)

$4.05 ISK 491

$1.92 UYU 76.9

110.94%

Onion (1kg)

$1.66 ISK 202

$2.15 UYU 86.2

-22.79%

Lettuce (1 head)

$3.86 ISK 468

$1.43 UYU 57.5

169.93%

Water (1.5 liter bottle)

$1.84 ISK 223

$1.90 UYU 76.3

-3.16%

Cigarettes 20 Pack (Marlboro, Camel)

$13.96 ISK 1,693

$5.34 UYU 214

161.42%

Wine (Bottle)

$23.76 ISK 2,882

$8.49 UYU 341

179.86%

Local Beer (0.5 liter bottle)

$3.54 ISK 430

$2.26 UYU 90.6

56.64%

Imported Beer (0.33 liter bottle)

$3.44 ISK 418

$2.84 UYU 114

21.13%

One-way Ticket (Public Transport)

$5.81 ISK 705

$0.76 UYU 30.54

664.47%

Public Transport Monthly Pass (Regular Price)

$95.3 ISK 11.6K

Taxi Start (Normal Tariff)

$6.72 ISK 815

$1.88 UYU 75.5

257.45%

Taxi (Normal Tariff) (1km)

$2.81 ISK 340

$0.40 UYU 16.02

602.50%

Taxi 1hour Waiting (Normal Tariff)

$81.3 ISK 9,866

$10.47 UYU 420

676.89%

Gasoline (1 liter)

$2.12 ISK 257

$2.16 UYU 86.5

-1.85%

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

$68.9K ISK 8.4M

$26.4K UYU 1.1M

160.74%

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

$55.8K ISK 6.8M

$36.8K UYU 1.5M

51.51%

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

$95.8 ISK 11.6K

$186 UYU 7,459

-48.44%

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

$33.11 ISK 4,016

$20.60 UYU 827

60.73%

Internet (50+ Mbps, Unlimited Data)

$87.2 ISK 10.6K

$45.30 UYU 1,818

92.38%

Gym Membership (Monthly)

$101 ISK 12.3K

Tennis Court (1 Hour on Weekend)

$50.7 ISK 6,155

Cinema Ticket

$19.85 ISK 2,407

$12.43 UYU 499

59.69%

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

$1,195 ISK 144.9K

$615 UYU 24.7K

94.26%

International Primary School, 1 Child (Yearly)

$26.2K ISK 3.2M

$11.0K UYU 443.2K

137.46%

Jeans (Levis 501 Or Similar)

$148 ISK 18.0K

$104 UYU 4,185

42.17%

Summer Dress (H&M, Zara, etc)

$66.8 ISK 8,096

$56.9 UYU 2,284

17.29%

Sport Shoes (Adidas, Nike)

$187 ISK 22.6K

$122 UYU 4,899

52.86%

Men's Leather Business Shoes

$253 ISK 30.6K

$131 UYU 5,247

93.25%

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

20-Year Fixed Mortgage Interest Rate (Annual %)

8.81

5.74

53.48%

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

Last update for Reykjavik: October 20, 2026

Last update for Minas: October 17, 2026

Monthly budget structure

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

Accommodation & Living

Reykjavik

$2.1K 51.7%

Minas

- * 0% 100%

Groceries & Markets

Reykjavik

$619 15.4%

Minas

$329 30.8% 46.8% $290

Eating Out

Reykjavik

$532 13.2%

Minas

$270 25.2% 49.3% $263

Clothing & Footwear

Reykjavik

$294 7.3%

Minas

$186 17.4% 36.7% $108

Monthly Utilities & Internet

Reykjavik

$216 5.4%

Minas

$252 23.6% 16.5% $36

Sport & Entertainment

Reykjavik

$141 3.5%

Minas

$25 * 2.3% 82.3% $116

Getting Around

Reykjavik

$139 3.5%

Minas

$6.9 * 0.7% 95% $132

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

Cost Breakdown

A mid-range dinner for two costs $123 in Reykjavik versus $70.0 in Minas. Monthly groceries follow the same trend: $619 vs $329 – making Minas the more affordable choice for daily food spending.

Good to know

🇮🇸 Reykjavik

🇺🇾 Minas

🕒 Local time

20:45 8:45 PM

17:45 5:45 PM

3 h behind Reykjavik

🌤 Weather

👥 Population

136,894 Capital

38,446

💱 Currency

Icelandic Króna ISK kr

Uruguayan Peso UYU $U

📈 Exchange rate

1,000 ISK = 8.24 USD

1,000 ISK = 7.33 EUR

100 UYU = 2.49 USD

100 UYU = 2.22 EUR

Exchange rates and currency converter

UYU, 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).

Uruguayan Peso exchange rates as of October 20, 2026: 1 USD = 40.14 UYU (100 UYU = 2.49 USD). 1 EUR = 45.12 UYU (100 UYU = 2.22 EUR).

USD to ISK in detail →

On the map

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Between locations

Reykjavik Minas 11,340 km ≈ 15 h nonstop flight

From you

Reykjavik
Minas

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 Minas: Cost of Living - Frequently Asked Questions

Monthly costs with rent: $4,023 in Reykjavik, $1,069 in Minas – roughly 276% apart. Outside of rent, the biggest gap is in groceries.

For a comfortable life, plan on about $6,034 per month in Reykjavik and $1,604 in Minas. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Monthly expenses with rent come to $4,023 in Reykjavik and $1,069 in Minas. That's a gap of about 276%.

Kindergarten costs $1,195 per month in Reykjavik and $615 in Minas. For families with young kids, this one expense can tip the scales when choosing between the two cities.

A $2,000 monthly budget goes further in Minas, where all-in costs run around $1,069, than in Reykjavik at $4,023. In Minas it covers expenses comfortably, while in Reykjavik it requires careful planning or may not stretch far enough.

It depends on your priorities. Reykjavik has an edge in some lifestyle areas, with costs from $1,069 in Minas to $4,023 in Reykjavik. Climate, culture, job market, and personal taste all factor in.

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 Minas. 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.