Last update: Oct 2026

Cost of Living Comparison Between Reykjavik and Santiago

For one person, living is cheaper in Santiago: $1,206 a month against $4,037 in Reykjavik, rent and utilities included – about $34,000 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
58

Cost of Living Index in Santiago
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Santiago Living Index

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Reykjavik

🇮🇸 Iceland

$4,037

/mo nomad

Santiago

🇨🇱 Chile

$1,206

/mo nomad

Monthly Cost of Living

How much you'll spend in Reykjavik and in Santiago

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

A single person spends $4,037 per month in Reykjavik vs $1,206 in Santiago, rent included.

Reykjavik $4,037
Santiago $1,206

A couple spends around $5,666 per month in Reykjavik vs $1,885 in Santiago, rent included.

Reykjavik $5,666
Santiago $1,885

A family of three spends $7,295 per month in Reykjavik vs $2,564 in Santiago, rent included.

Reykjavik $7,295
Santiago $2,564

Reykjavik costs about 235% more than Santiago, and outside of rent the biggest gap is in groceries.

Reykjavik sits 201% above the global median, while Santiago is 10% below – they fall on opposite sides of the world average.

Meal at Budget Restaurant

$30.59 ISK 3,727

$10.19 CLP 9,954

200.20%

Three-Course Dinner for Two, Mid-Range

$136 ISK 16.5K

$52.2 CLP 51.0K

159.55%

Fast Food Meal (McDonalds, etc)

$27.08 ISK 3,300

$8.54 CLP 8,342

217.10%

Cappuccino

$6.72 ISK 818

$3.19 CLP 3,122

110.66%

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

$3.27 ISK 399

$1.68 CLP 1,641

94.64%

Water (0.33 liter bottle)

$3.16 ISK 386

$1.22 CLP 1,194

159.02%

Local Beer (0.5 liter draught)

$13.91 ISK 1,695

$4.21 CLP 4,110

230.40%

Imported Beer (0.33 liter bottle)

$12.06 ISK 1,469

$4.66 CLP 4,550

158.80%

Milk (1 liter)

$2.04 ISK 248

$1.32 CLP 1,286

54.55%

White Bread (500g)

$4.32 ISK 526

$1.80 CLP 1,760

140.00%

Rice (white) (1kg)

$3.67 ISK 447

$1.58 CLP 1,547

132.28%

Eggs

$7.02 ISK 855

$4.25 CLP 4,151

65.18%

Local Cheese (1kg)

$22.01 ISK 2,682

$11.19 CLP 10.9K

96.69%

Chicken Fillets (1kg)

$24.70 ISK 3,009

$6.75 CLP 6,596

265.93%

Beef Round Steak (1kg)

$42.66 ISK 5,198

$10.67 CLP 10.4K

299.81%

Apples (1kg)

$3.37 ISK 411

$2.04 CLP 1,995

65.20%

Banana (1kg)

$2.85 ISK 347

$1.53 CLP 1,500

86.27%

Oranges (1kg)

$3.17 ISK 387

$1.59 CLP 1,553

99.37%

Tomato (1kg)

$6.39 ISK 779

$1.75 CLP 1,712

265.14%

Potato (1kg)

$4.01 ISK 489

$1.08 CLP 1,054

271.30%

Onion (1kg)

$1.64 ISK 200

$1.51 CLP 1,480

8.61%

Lettuce (1 head)

$3.80 ISK 462

$1.17 CLP 1,148

224.79%

Water (1.5 liter bottle)

$1.74 ISK 212

$1.07 CLP 1,043

62.62%

Cigarettes 20 Pack (Marlboro, Camel)

$13.80 ISK 1,681

$5.14 CLP 5,027

168.48%

Wine (Bottle)

$23.38 ISK 2,849

$5.88 CLP 5,745

297.62%

Local Beer (0.5 liter bottle)

$3.53 ISK 430

$1.55 CLP 1,516

127.74%

Imported Beer (0.33 liter bottle)

$3.45 ISK 420

$2.27 CLP 2,223

51.98%

One-way Ticket (Public Transport)

$5.77 ISK 703

$0.85 CLP 831

578.82%

Public Transport Monthly Pass (Regular Price)

$95.1 ISK 11.6K

$41.50 CLP 40.6K

129.25%

Taxi Start (Normal Tariff)

$6.63 ISK 808

$0.39 CLP 383

1600.00%

Taxi (Normal Tariff) (1km)

$2.79 ISK 340

$0.84 CLP 822

232.14%

Taxi 1hour Waiting (Normal Tariff)

$81.4 ISK 9,915

$11.94 CLP 11.7K

581.49%

Gasoline (1 liter)

$2.11 ISK 257

$1.50 CLP 1,470

40.67%

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

$50.8K ISK 6.2M

$18.1K CLP 17.7M

180.70%

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

$52.7K ISK 6.4M

$21.6K CLP 21.1M

144.05%

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

$88.7 ISK 10.8K

$151 CLP 147.7K

-41.31%

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

$31.53 ISK 3,842

$12.04 CLP 11.8K

161.88%

Internet (50+ Mbps, Unlimited Data)

$84.6 ISK 10.3K

$18.93 CLP 18.5K

347.12%

Gym Membership (Monthly)

$100 ISK 12.2K

$33.81 CLP 33.0K

196.89%

Tennis Court (1 Hour on Weekend)

$48.20 ISK 5,873

$11.72 CLP 11.5K

311.26%

Cinema Ticket

$19.87 ISK 2,422

$7.37 CLP 7,202

169.61%

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

$1,277 ISK 155.7K

$434 CLP 424.3K

194.25%

International Primary School, 1 Child (Yearly)

$31.0K ISK 3.8M

$11.0K CLP 10.7M

181.47%

Jeans (Levis 501 Or Similar)

$161 ISK 19.6K

$50.9 CLP 49.7K

216.22%

Summer Dress (H&M, Zara, etc)

$64.9 ISK 7,908

$29.16 CLP 28.5K

122.57%

Sport Shoes (Adidas, Nike)

$183 ISK 22.3K

$67.4 CLP 65.8K

171.10%

Men's Leather Business Shoes

$254 ISK 30.9K

$80.3 CLP 78.4K

216.36%

1-bedroom Apartment, City Center (Monthly)

$2,499 ISK 304.6K

$555 CLP 542.0K

350.67%

1-bedroom Apartment, Outside City Center (Monthly)

$2,000 ISK 243.7K

$372 CLP 364.0K

437.03%

3-bedroom Apartment, City Center (Monthly)

$3,452 ISK 420.6K

$1,009 CLP 986.6K

241.94%

3-bedroom Apartment, Outside City Center (Monthly)

$2,742 ISK 334.2K

$779 CLP 760.9K

252.26%

Buy Apartment in City Center (m2)

$8,001 ISK 974.9K

$2,671 CLP 2.6M

199.53%

Buy Apartment Outside City Center (m2)

$6,249 ISK 761.5K

$2,622 CLP 2.6M

138.35%

Average Monthly Net Salary (After Tax)

$4,691 ISK 571.6K

$791 CLP 773.5K

492.69%

20-Year Fixed Mortgage Interest Rate (Annual %)

8.81

5.39

63.45%

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

Last update for Reykjavik: October 4, 2026

Last update for Santiago: October 4, 2026

Monthly budget structure

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

Accommodation & Living

Reykjavik

$2K 50.9%

Santiago

$372 31.6% 81.4% $1.6K

Groceries & Markets

Reykjavik

$625 15.9%

Santiago

$236 20% 62.2% $389

Eating Out

Reykjavik

$526 13.4%

Santiago

$187 15.9% 64.4% $339

Clothing & Footwear

Reykjavik

$298 7.6%

Santiago

$102 8.7% 65.6% $196

Monthly Utilities & Internet

Reykjavik

$205 5.2%

Santiago

$182 15.5% 11.1% $23

Sport & Entertainment

Reykjavik

$140 3.6%

Santiago

$49 4.1% 65.4% $92

Getting Around

Reykjavik

$139 3.5%

Santiago

$50 4.2% 64.3% $89

Cost Breakdown

A central one-bedroom costs $2,499 in Reykjavik versus $555 in Santiago. 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 493% 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 $136 in Reykjavik versus $52.0 in Santiago. Monthly groceries follow the same trend: $625 vs $236 – making Santiago the more affordable choice for daily food spending.

Good to know

🇮🇸 Reykjavik

🇨🇱 Santiago

🕒 Local time

02:58 2:58 AM

23:58 11:58 PM

3 h behind Reykjavik

🌤 Weather

👥 Population

136,894 Capital

6,139,087 Capital

💱 Currency

Icelandic Króna ISK kr

Chilean Peso CLP $

📈 Exchange rate

1,000 ISK = 8.21 USD

1,000 ISK = 7.32 EUR

10,000 CLP = 10.23 USD

10,000 CLP = 9.12 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 10, 2026: 1 USD = 122 ISK (1,000 ISK = 8.21 USD). 1 EUR = 137 ISK (1,000 ISK = 7.32 EUR).

Chilean Peso exchange rates as of October 10, 2026: 1 USD = 977 CLP (1,000 CLP = 1.02 USD). 1 EUR = 1,096 CLP (10,000 CLP = 9.12 EUR).

USD to ISK in detail →

On the map

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Highest

Between locations

Reykjavik Santiago 11,660 km ≈ 15 h nonstop flight

From you

Reykjavik
Santiago

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 Santiago: Cost of Living - Frequently Asked Questions

Reykjavik costs about 235% more than Santiago, and outside of rent the gap comes mainly from groceries. That's enough to noticeably affect everyday spending and lifestyle for anyone choosing between the two.

For a comfortable life, plan on about $6,055 per month in Reykjavik and $1,809 in Santiago. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Rent is clearly cheaper in Santiago, 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 $4,037 in Reykjavik and $1,206 in Santiago. That's a gap of about 235%.

Public transport costs about 129% less in Santiago. For daily commuters, that gap adds up to noticeable savings over a year.

A $1,500 monthly budget goes further in Santiago, where all-in costs run around $1,206, than in Reykjavik at $4,037. In Santiago it covers expenses comfortably, while in Reykjavik it requires careful planning or may not stretch far enough.

For digital nomads, it depends on budget. Santiago costs $1,206 versus $4,037 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 Santiago. 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.