Last update: Oct 2026

Cost of Living Comparison Between Reykjavik and Puerto Montt

For one person, living is cheaper in Puerto Montt: $453 a month against $4,002 in Reykjavik, rent and utilities included – about $42,600 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 Puerto Montt
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Puerto Montt Living Index

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Reykjavik

🇮🇸 Iceland

$4,002

/mo nomad

Puerto Montt

🇨🇱 Chile

$453

/mo nomad

Monthly Cost of Living

How much you'll spend in Reykjavik and in Puerto Montt

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

A single person spends $4,002 per month in Reykjavik vs $453 in Puerto Montt, rent included.

Reykjavik $4,002
Puerto Montt $453

A couple spends around $5,705 per month in Reykjavik vs $758 in Puerto Montt, rent included.

Reykjavik $5,705
Puerto Montt $758

A family of three spends $7,407 per month in Reykjavik vs $1,064 in Puerto Montt, rent included.

Reykjavik $7,407
Puerto Montt $1,064

Reykjavik costs about 784% more than Puerto Montt, and outside of rent the biggest gap is in eating out.

Reykjavik sits 196% above the global median, while Puerto Montt is 66% below – they fall on opposite sides of the world average.

Meal at Budget Restaurant

$31.56 ISK 3,828

$8.01 CLP 7,886

294.01%

Three-Course Dinner for Two, Mid-Range

$122 ISK 14.8K

$36.02 CLP 35.5K

239.67%

Fast Food Meal (McDonalds, etc)

$26.86 ISK 3,258

$7.23 CLP 7,112

271.51%

Cappuccino

$6.81 ISK 827

$2.74 CLP 2,697

148.54%

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

$3.39 ISK 411

$0.96 CLP 944

253.13%

Water (0.33 liter bottle)

$3.20 ISK 388

$0.93 CLP 918

244.09%

Local Beer (0.5 liter draught)

$14.14 ISK 1,715

Imported Beer (0.33 liter bottle)

$12.31 ISK 1,493

Milk (1 liter)

$2.10 ISK 255

$1.14 CLP 1,121

84.21%

White Bread (500g)

$4.19 ISK 508

$2.49 CLP 2,456

68.27%

Rice (white) (1kg)

$3.72 ISK 451

$1.47 CLP 1,448

153.06%

Eggs

$7.05 ISK 856

$3.21 CLP 3,162

119.63%

Local Cheese (1kg)

$21.56 ISK 2,615

$11.41 CLP 11.2K

88.96%

Chicken Fillets (1kg)

$24.68 ISK 2,993

$5.69 CLP 5,598

333.74%

Beef Round Steak (1kg)

$42.19 ISK 5,117

$6.85 CLP 6,744

515.91%

Apples (1kg)

$3.23 ISK 392

$1.04 CLP 1,021

210.58%

Banana (1kg)

$2.73 ISK 331

$1.35 CLP 1,326

102.22%

Oranges (1kg)

$3.17 ISK 384

$2.70 CLP 2,659

17.41%

Tomato (1kg)

$6.61 ISK 802

$1.82 CLP 1,788

263.19%

Potato (1kg)

$3.85 ISK 467

Onion (1kg)

$1.66 ISK 201

$1.56 CLP 1,536

6.41%

Lettuce (1 head)

$3.80 ISK 461

$1.32 CLP 1,296

187.88%

Water (1.5 liter bottle)

$1.75 ISK 212

$1.46 CLP 1,438

19.86%

Cigarettes 20 Pack (Marlboro, Camel)

$13.71 ISK 1,662

$4.55 CLP 4,482

201.32%

Wine (Bottle)

$24.21 ISK 2,937

$5.68 CLP 5,588

326.23%

Local Beer (0.5 liter bottle)

$3.53 ISK 428

$1.39 CLP 1,368

153.96%

Imported Beer (0.33 liter bottle)

$3.32 ISK 402

$1.54 CLP 1,519

115.58%

One-way Ticket (Public Transport)

$5.75 ISK 697

$0.89 CLP 875

546.07%

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

$1.30 CLP 1,282

60.77%

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

$62.0 CLP 61.0K

53.74%

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

$32.35 ISK 3,923

$11.06 CLP 10.9K

192.50%

Internet (50+ Mbps, Unlimited Data)

$87.5 ISK 10.6K

$31.03 CLP 30.5K

182.11%

Gym Membership (Monthly)

$102 ISK 12.4K

Tennis Court (1 Hour on Weekend)

$50.1 ISK 6,074

Cinema Ticket

$19.88 ISK 2,412

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

$1,194 ISK 144.8K

$145 CLP 142.5K

725.03%

International Primary School, 1 Child (Yearly)

$25.4K ISK 3.1M

Jeans (Levis 501 Or Similar)

$149 ISK 18.1K

Summer Dress (H&M, Zara, etc)

$66.6 ISK 8,080

Sport Shoes (Adidas, Nike)

$180 ISK 21.8K

Men's Leather Business Shoes

$253 ISK 30.7K

1-bedroom Apartment, City Center (Monthly)

$2,549 ISK 309.2K

$502 CLP 494.6K

407.31%

1-bedroom Apartment, Outside City Center (Monthly)

$2,056 ISK 249.4K

3-bedroom Apartment, City Center (Monthly)

$3,498 ISK 424.2K

3-bedroom Apartment, Outside City Center (Monthly)

$2,764 ISK 335.2K

Buy Apartment in City Center (m2)

$8,120 ISK 984.9K

Buy Apartment Outside City Center (m2)

$6,254 ISK 758.5K

Average Monthly Net Salary (After Tax)

$4,573 ISK 554.6K

20-Year Fixed Mortgage Interest Rate (Annual %)

8.81

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

Last update for Reykjavik: October 12, 2026

Last update for Puerto Montt: October 13, 2026

Monthly budget structure

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

Accommodation & Living

Reykjavik

$2.1K 51.4%

Puerto Montt

- * 0% 100%

Groceries & Markets

Reykjavik

$623 15.6%

Puerto Montt

$219 * 48.3% 64.9% $404

Eating Out

Reykjavik

$536 13.4%

Puerto Montt

$126 * 27.9% 76.5% $410

Clothing & Footwear

Reykjavik

$292 7.3%

Puerto Montt

- * 0% 100%

Monthly Utilities & Internet

Reykjavik

$215 5.4%

Puerto Montt

$104 23% 51.6% $111

Sport & Entertainment

Reykjavik

$142 3.5%

Puerto Montt

- * 0% 100%

Getting Around

Reykjavik

$138 3.5%

Puerto Montt

$3.6 * 0.8% 97.4% $134

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 $502 in Puerto Montt. Rent is usually the largest line item in a monthly budget, so the gap here sets the tone for the overall comparison.

A mid-range dinner for two costs $122 in Reykjavik versus $36.00 in Puerto Montt. Monthly groceries follow the same trend: $623 vs $219 – making Puerto Montt the more affordable choice for daily food spending.

Good to know

🇮🇸 Reykjavik

🇨🇱 Puerto Montt

🕒 Local time

01:34 1:34 AM

22:34 10:34 PM

3 h behind Reykjavik

🌤 Weather

👥 Population

136,894 Capital

169,736

💱 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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Between locations

Reykjavik Puerto Montt 12,560 km ≈ 16 h nonstop flight

From you

Reykjavik
Puerto Montt

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 Puerto Montt: Cost of Living - Frequently Asked Questions

Reykjavik costs about 784% more than Puerto Montt, and outside of rent the gap comes mainly from eating out. That's enough to noticeably affect everyday spending and lifestyle for anyone choosing between the two.

For a comfortable life, plan on about $6,003 per month in Reykjavik and $679 in Puerto Montt. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Rent is clearly cheaper in Puerto Montt, 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 $453 in Puerto Montt. That's a gap of about 784%.

Kindergarten costs $1,194 per month in Reykjavik and $145 in Puerto Montt. For families with young kids, this one expense can tip the scales when choosing between the two cities.

A $1,000 monthly budget goes further in Puerto Montt, where all-in costs run around $453, than in Reykjavik at $4,002. In Puerto Montt it covers expenses comfortably, while in Reykjavik it requires careful planning or may not stretch far enough.

For digital nomads, it depends on budget. Puerto Montt costs $453 versus $4,002 in Reykjavik. Both have workable remote work infrastructure, but the cost gap matters when income varies month to month.

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 Puerto Montt. 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.