Last update: Oct 2026

Cost of Living Comparison Between Reykjavik and Osorno

For one person, living is cheaper in Osorno: $1,025 a month against $4,002 in Reykjavik, rent and utilities included – about $35,700 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
50

Cost of Living Index in Osorno
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Osorno Living Index

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Reykjavik

🇮🇸 Iceland

$4,002

/mo nomad

Osorno

🇨🇱 Chile

$1,025

/mo nomad

Monthly Cost of Living

How much you'll spend in Reykjavik and in Osorno

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

A single person spends $4,002 per month in Reykjavik vs $1,025 in Osorno, rent included.

Reykjavik $4,002
Osorno $1,025

A couple spends around $5,705 per month in Reykjavik vs $1,505 in Osorno, rent included.

Reykjavik $5,705
Osorno $1,505

A family of three spends $7,407 per month in Reykjavik vs $1,985 in Osorno, rent included.

Reykjavik $7,407
Osorno $1,985

Reykjavik costs about 291% more than Osorno, and outside of rent the biggest gap is in groceries.

Reykjavik sits 196% above the global median, while Osorno is 24% below – they fall on opposite sides of the world average.

Meal at Budget Restaurant

$31.56 ISK 3,828

$7.50 CLP 7,388

320.80%

Three-Course Dinner for Two, Mid-Range

$122 ISK 14.8K

$30.85 CLP 30.4K

296.60%

Fast Food Meal (McDonalds, etc)

$26.86 ISK 3,258

$6.45 CLP 6,350

316.43%

Cappuccino

$6.81 ISK 827

$1.99 CLP 1,955

242.21%

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

$3.39 ISK 411

$1.34 CLP 1,318

152.99%

Water (0.33 liter bottle)

$3.20 ISK 388

$3.09 CLP 3,037

3.56%

Local Beer (0.5 liter draught)

$14.14 ISK 1,715

$1.76 CLP 1,737

703.41%

Imported Beer (0.33 liter bottle)

$12.31 ISK 1,493

$2.48 CLP 2,444

396.37%

Milk (1 liter)

$2.10 ISK 255

$1.24 CLP 1,222

69.35%

White Bread (500g)

$4.19 ISK 508

$1.52 CLP 1,496

175.66%

Rice (white) (1kg)

$3.72 ISK 451

$1.52 CLP 1,492

144.74%

Eggs

$7.05 ISK 856

$3.78 CLP 3,717

86.51%

Local Cheese (1kg)

$21.56 ISK 2,615

$9.78 CLP 9,624

120.45%

Chicken Fillets (1kg)

$24.68 ISK 2,993

$5.53 CLP 5,445

346.29%

Beef Round Steak (1kg)

$42.19 ISK 5,117

$9.58 CLP 9,426

340.40%

Apples (1kg)

$3.23 ISK 392

$2.01 CLP 1,981

60.70%

Banana (1kg)

$2.73 ISK 331

$1.41 CLP 1,385

93.62%

Oranges (1kg)

$3.17 ISK 384

$1.77 CLP 1,739

79.10%

Tomato (1kg)

$6.61 ISK 802

$2.03 CLP 1,993

225.62%

Potato (1kg)

$3.85 ISK 467

$1.92 CLP 1,888

100.52%

Onion (1kg)

$1.66 ISK 201

$1.70 CLP 1,669

-2.35%

Lettuce (1 head)

$3.80 ISK 461

$1.13 CLP 1,110

236.28%

Water (1.5 liter bottle)

$1.75 ISK 212

$0.91 CLP 897

92.31%

Cigarettes 20 Pack (Marlboro, Camel)

$13.71 ISK 1,662

$5.13 CLP 5,053

167.25%

Wine (Bottle)

$24.21 ISK 2,937

$4.47 CLP 4,398

441.61%

Local Beer (0.5 liter bottle)

$3.53 ISK 428

$1.55 CLP 1,527

127.74%

Imported Beer (0.33 liter bottle)

$3.32 ISK 402

$3.08 CLP 3,031

7.79%

One-way Ticket (Public Transport)

$5.75 ISK 697

$0.53 CLP 523

984.91%

Public Transport Monthly Pass (Regular Price)

$93.8 ISK 11.4K

$15.08 CLP 14.8K

522.08%

Taxi Start (Normal Tariff)

$6.61 ISK 802

$2.73 CLP 2,690

142.12%

Taxi (Normal Tariff) (1km)

$2.90 ISK 352

$0.96 CLP 946

202.08%

Taxi 1hour Waiting (Normal Tariff)

$79.2 ISK 9,602

$4.97 CLP 4,891

1492.76%

Gasoline (1 liter)

$2.09 ISK 253

$1.35 CLP 1,329

54.81%

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

$51.0K ISK 6.2M

$14.6K CLP 14.3M

250.38%

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

$53.3K ISK 6.5M

$14.3K CLP 14.1M

271.66%

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

$95.3 ISK 11.6K

$102 CLP 100.5K

-6.66%

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

$32.35 ISK 3,923

$10.02 CLP 9,867

222.85%

Internet (50+ Mbps, Unlimited Data)

$87.5 ISK 10.6K

$29.19 CLP 28.7K

199.90%

Gym Membership (Monthly)

$102 ISK 12.4K

$59.5 CLP 58.6K

71.16%

Tennis Court (1 Hour on Weekend)

$50.1 ISK 6,074

$13.54 CLP 13.3K

269.87%

Cinema Ticket

$19.88 ISK 2,412

$9.16 CLP 9,019

117.03%

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

$1,194 ISK 144.8K

$354 CLP 348.8K

236.98%

International Primary School, 1 Child (Yearly)

$25.4K ISK 3.1M

Jeans (Levis 501 Or Similar)

$149 ISK 18.1K

$40.48 CLP 39.8K

268.16%

Summer Dress (H&M, Zara, etc)

$66.6 ISK 8,080

Sport Shoes (Adidas, Nike)

$180 ISK 21.8K

$42.53 CLP 41.9K

322.95%

Men's Leather Business Shoes

$253 ISK 30.7K

$44.52 CLP 43.8K

468.82%

1-bedroom Apartment, City Center (Monthly)

$2,549 ISK 309.2K

$384 CLP 378.3K

563.29%

1-bedroom Apartment, Outside City Center (Monthly)

$2,056 ISK 249.4K

$371 CLP 365.3K

454.01%

3-bedroom Apartment, City Center (Monthly)

$3,498 ISK 424.2K

$512 CLP 503.8K

583.42%

3-bedroom Apartment, Outside City Center (Monthly)

$2,764 ISK 335.2K

$556 CLP 547.3K

397.10%

Buy Apartment in City Center (m2)

$8,120 ISK 984.9K

$1,027 CLP 1.0M

690.41%

Buy Apartment Outside City Center (m2)

$6,254 ISK 758.5K

$1,557 CLP 1.5M

301.67%

Average Monthly Net Salary (After Tax)

$4,573 ISK 554.6K

$615 CLP 605.4K

643.53%

20-Year Fixed Mortgage Interest Rate (Annual %)

8.81

4.72

86.65%

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

Last update for Reykjavik: October 12, 2026

Last update for Osorno: October 11, 2026

Monthly budget structure

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

Accommodation & Living

Reykjavik

$2.1K 51.4%

Osorno

$371 36.2% 81.9% $1.7K

Groceries & Markets

Reykjavik

$623 15.6%

Osorno

$218 21.2% 65% $405

Eating Out

Reykjavik

$536 13.4%

Osorno

$135 13.2% 74.9% $402

Clothing & Footwear

Reykjavik

$292 7.3%

Osorno

$57 * 5.6% 80.3% $235

Monthly Utilities & Internet

Reykjavik

$215 5.4%

Osorno

$141 13.8% 34.3% $74

Sport & Entertainment

Reykjavik

$142 3.5%

Osorno

$78 7.6% 45% $64

Getting Around

Reykjavik

$138 3.5%

Osorno

$25 2.4% 82.1% $113

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 $384 in Osorno. 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 644% 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 $31.00 in Osorno. Monthly groceries follow the same trend: $623 vs $218 – making Osorno the more affordable choice for daily food spending.

Good to know

🇮🇸 Reykjavik

🇨🇱 Osorno

🕒 Local time

01:35 1:35 AM

22:35 10:35 PM

3 h behind Reykjavik

🌤 Weather

👥 Population

136,894 Capital

147,666

💱 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 19, 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 19, 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 Osorno 12,480 km ≈ 16 h nonstop flight

From you

Reykjavik
Osorno

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 Osorno: Cost of Living - Frequently Asked Questions

Yes – Reykjavik is pricier by about 291%, and outside of rent the gap shows up most in groceries.

For a comfortable life, plan on about $6,003 per month in Reykjavik and $1,537 in Osorno. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Rent is clearly cheaper in Osorno, especially for central apartments. Housing is actually the single biggest factor behind the overall cost gap between these two cities.

Kindergarten costs $1,194 per month in Reykjavik and $354 in Osorno. For families with young kids, this one expense can tip the scales when choosing between the two cities.

Groceries cost about 186% more in Reykjavik, though it depends on what you buy. Local produce may be comparable; imported and premium items show the biggest price gap.

A $1,500 monthly budget goes further in Osorno, where all-in costs run around $1,025, than in Reykjavik at $4,002. In Osorno it covers expenses comfortably, while in Reykjavik it requires careful planning or may not stretch far enough.

Families tend to lean toward Osorno – 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 Osorno. 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.