Last update: Oct 2026

Cost of Living Comparison Between Reykjavik and Puerto Varas

For one person, living is cheaper in Puerto Varas: $1,130 a month against $4,002 in Reykjavik, rent and utilities included – about $34,500 less a year. Rent and utilities account for about half of the difference.

193

Cost of Living Index in Reykjavik
Learn more

Reykjavik Living Index
52

Cost of Living Index in Puerto Varas
Learn more

Puerto Varas Living Index

Jump to prices

Reykjavik

🇮🇸 Iceland

$4,002

/mo nomad

Puerto Varas

🇨🇱 Chile

$1,130

/mo nomad

Monthly Cost of Living

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

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

Monthly costs for one person with rent: $4,002 in Reykjavik versus $1,130 in Puerto Varas.

Reykjavik $4,002
Puerto Varas $1,130

Estimated couple costs with rent: $5,705 in Reykjavik versus $1,624 in Puerto Varas.

Reykjavik $5,705
Puerto Varas $1,624

Monthly costs for a family of three with rent: $7,407 in Reykjavik versus $2,118 in Puerto Varas.

Reykjavik $7,407
Puerto Varas $2,118

Living in Reykjavik is roughly 254% more expensive than in Puerto Varas, and outside of rent the biggest gap is in groceries.

The two cities straddle the global median: Reykjavik is 196% above, Puerto Varas is 16% below.

Meal at Budget Restaurant

$31.56 ISK 3,828

$12.47 CLP 12.3K

153.09%

Three-Course Dinner for Two, Mid-Range

$122 ISK 14.8K

$41.05 CLP 40.4K

198.05%

Fast Food Meal (McDonalds, etc)

$26.86 ISK 3,258

$7.58 CLP 7,462

254.35%

Cappuccino

$6.81 ISK 827

$3.28 CLP 3,231

107.62%

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

$3.39 ISK 411

$0.99 CLP 977

242.42%

Water (0.33 liter bottle)

$3.20 ISK 388

$0.80 CLP 785

300.00%

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

$1.09 CLP 1,077

92.66%

White Bread (500g)

$4.19 ISK 508

$1.86 CLP 1,830

125.27%

Rice (white) (1kg)

$3.72 ISK 451

$1.61 CLP 1,582

131.06%

Eggs

$7.05 ISK 856

$3.11 CLP 3,062

126.69%

Local Cheese (1kg)

$21.56 ISK 2,615

$8.61 CLP 8,476

150.41%

Chicken Fillets (1kg)

$24.68 ISK 2,993

$4.68 CLP 4,609

427.35%

Beef Round Steak (1kg)

$42.19 ISK 5,117

$8.50 CLP 8,372

396.35%

Apples (1kg)

$3.23 ISK 392

$1.78 CLP 1,751

81.46%

Banana (1kg)

$2.73 ISK 331

$1.95 CLP 1,922

40.00%

Oranges (1kg)

$3.17 ISK 384

$2.61 CLP 2,565

21.46%

Tomato (1kg)

$6.61 ISK 802

$1.89 CLP 1,862

249.74%

Potato (1kg)

$3.85 ISK 467

$1.50 CLP 1,480

156.67%

Onion (1kg)

$1.66 ISK 201

$1.25 CLP 1,230

32.80%

Lettuce (1 head)

$3.80 ISK 461

$1.32 CLP 1,296

187.88%

Water (1.5 liter bottle)

$1.75 ISK 212

$1.13 CLP 1,117

54.87%

Cigarettes 20 Pack (Marlboro, Camel)

$13.71 ISK 1,662

$4.96 CLP 4,884

176.41%

Wine (Bottle)

$24.21 ISK 2,937

$4.63 CLP 4,557

422.89%

Local Beer (0.5 liter bottle)

$3.53 ISK 428

$1.40 CLP 1,379

152.14%

Imported Beer (0.33 liter bottle)

$3.32 ISK 402

$1.25 CLP 1,226

165.60%

One-way Ticket (Public Transport)

$5.75 ISK 697

$1.10 CLP 1,078

422.73%

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

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

$255 CLP 251.2K

-62.67%

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

$32.35 ISK 3,923

$16.06 CLP 15.8K

101.43%

Internet (50+ Mbps, Unlimited Data)

$87.5 ISK 10.6K

Gym Membership (Monthly)

$102 ISK 12.4K

$30.89 CLP 30.4K

229.75%

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

$488 CLP 480.6K

144.54%

International Primary School, 1 Child (Yearly)

$25.4K ISK 3.1M

$6,137 CLP 6.0M

314.00%

Jeans (Levis 501 Or Similar)

$149 ISK 18.1K

$20.37 CLP 20.1K

631.62%

Summer Dress (H&M, Zara, etc)

$66.6 ISK 8,080

$15.32 CLP 15.1K

334.86%

Sport Shoes (Adidas, Nike)

$180 ISK 21.8K

$61.1 CLP 60.1K

194.50%

Men's Leather Business Shoes

$253 ISK 30.7K

1-bedroom Apartment, City Center (Monthly)

$2,549 ISK 309.2K

$623 CLP 612.8K

309.47%

1-bedroom Apartment, Outside City Center (Monthly)

$2,056 ISK 249.4K

$402 CLP 396.0K

411.04%

3-bedroom Apartment, City Center (Monthly)

$3,498 ISK 424.2K

$819 CLP 805.9K

327.19%

3-bedroom Apartment, Outside City Center (Monthly)

$2,764 ISK 335.2K

$619 CLP 609.7K

346.18%

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

$532 CLP 523.5K

759.80%

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 Varas: October 12, 2026

Monthly budget structure

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

Accommodation & Living

Reykjavik

$2.1K 51.4%

Puerto Varas

$402 35.6% 80.4% $1.7K

Groceries & Markets

Reykjavik

$623 15.6%

Puerto Varas

$208 18.4% 66.5% $414

Eating Out

Reykjavik

$536 13.4%

Puerto Varas

$169 * 15% 68.5% $367

Clothing & Footwear

Reykjavik

$292 7.3%

Puerto Varas

$44 * 3.9% 85.1% $248

Monthly Utilities & Internet

Reykjavik

$215 5.4%

Puerto Varas

$271 * 24% 26.1% $56

Sport & Entertainment

Reykjavik

$142 3.5%

Puerto Varas

$31 * 2.7% 78.2% $111

Getting Around

Reykjavik

$138 3.5%

Puerto Varas

$4.4 * 0.4% 96.8% $134

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

Cost Breakdown

A one-bedroom apartment in the center runs $2,549 in Reykjavik and $623 in Puerto Varas. Housing cost is often the main lever when comparing two cities.

Reykjavik pays 760% 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 $41.00 in Puerto Varas for a mid-range dinner for two. Groceries echo the gap at $623 vs $208 per month, with Puerto Varas cheaper across the board.

Good to know

🇮🇸 Reykjavik

🇨🇱 Puerto Varas

🕒 Local time

04:18 4:18 AM

01:18 1:18 AM

3 h behind Reykjavik

🌤 Weather

👥 Population

136,894 Capital

41,255

💱 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 18, 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 18, 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

Lowest

Highest

Between locations

Reykjavik Puerto Varas 12,550 km ≈ 16 h nonstop flight

From you

Reykjavik
Puerto Varas

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 Varas: Cost of Living - Frequently Asked Questions

Puerto Varas wins on cost – living expenses run 254% lower than in Reykjavik. Housing and daily spending are where you'll feel the difference most, making Puerto Varas the obvious pick if budget is a priority.

Average pay runs 760% 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 $623 in Puerto Varas. Housing is usually the single largest factor when comparing overall living costs between the two.

Supermarket bills run roughly 199% higher in Reykjavik. For households that cook at home regularly, that difference adds up over a month.

All in, you'll spend $4,002 per month in Reykjavik versus $1,130 in Puerto Varas – a 254% gap that adds up to real savings over time for anyone picking the cheaper option.

At $1,130 in Puerto Varas versus $4,002 in Reykjavik, a $1,000 budget is realistic in Puerto Varas but tight or insufficient in Reykjavik. The gap between the two cities makes Puerto Varas the clear choice for anyone on this budget.

Both work as nomad bases, but Puerto Varas delivers better value – similar infrastructure at $1,130 monthly. If stretching your runway or maximizing savings is the goal, the price difference makes Puerto Varas hard to pass up.

Safety-wise, Reykjavik and Puerto Varas 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 Puerto Varas gentler on the wallet – expenses run 254% less than in Reykjavik. Beyond cost, consider language, visa policies, and how big the international community is in each city.