Last update: Oct 2026

Cost of Living Comparison Between Reykjavik and Valparaiso

For one person, living is cheaper in Valparaiso: $1,097 a month against $4,002 in Reykjavik, rent and utilities included – about $34,900 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
53

Cost of Living Index in Valparaiso
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Valparaiso Living Index

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Reykjavik

🇮🇸 Iceland

$4,002

/mo nomad

Valparaiso

🇨🇱 Chile

$1,097

/mo nomad

Monthly Cost of Living

How much you'll spend in Reykjavik and in Valparaiso

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

A single person spends $4,002 per month in Reykjavik vs $1,097 in Valparaiso, rent included.

Reykjavik $4,002
Valparaiso $1,097

A couple spends around $5,705 per month in Reykjavik vs $1,615 in Valparaiso, rent included.

Reykjavik $5,705
Valparaiso $1,615

A family of three spends $7,407 per month in Reykjavik vs $2,133 in Valparaiso, rent included.

Reykjavik $7,407
Valparaiso $2,133

Reykjavik costs about 265% more than Valparaiso, and outside of rent the biggest gap is in groceries.

Reykjavik sits 196% above the global median, while Valparaiso is 19% below – they fall on opposite sides of the world average.

Meal at Budget Restaurant

$31.56 ISK 3,829

$9.15 CLP 8,967

244.92%

Three-Course Dinner for Two, Mid-Range

$122 ISK 14.8K

$35.79 CLP 35.1K

241.86%

Fast Food Meal (McDonalds, etc)

$26.86 ISK 3,259

$8.24 CLP 8,077

225.97%

Cappuccino

$6.81 ISK 827

$2.80 CLP 2,740

143.21%

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

$3.39 ISK 411

$1.13 CLP 1,103

200.00%

Water (0.33 liter bottle)

$3.20 ISK 388

$0.83 CLP 814

285.54%

Local Beer (0.5 liter draught)

$14.14 ISK 1,716

$3.97 CLP 3,887

256.17%

Imported Beer (0.33 liter bottle)

$12.31 ISK 1,493

$4.46 CLP 4,374

176.01%

Milk (1 liter)

$2.10 ISK 255

$1.24 CLP 1,219

69.35%

White Bread (500g)

$4.19 ISK 508

$1.76 CLP 1,726

138.07%

Rice (white) (1kg)

$3.72 ISK 451

$1.57 CLP 1,540

136.94%

Eggs

$7.05 ISK 856

$3.94 CLP 3,861

78.93%

Local Cheese (1kg)

$21.56 ISK 2,617

$11.32 CLP 11.1K

90.46%

Chicken Fillets (1kg)

$24.68 ISK 2,995

$6.94 CLP 6,800

255.62%

Beef Round Steak (1kg)

$42.19 ISK 5,120

$9.10 CLP 8,920

363.63%

Apples (1kg)

$3.23 ISK 392

$1.61 CLP 1,580

100.62%

Banana (1kg)

$2.73 ISK 332

$1.56 CLP 1,530

75.00%

Oranges (1kg)

$3.17 ISK 385

$1.54 CLP 1,508

105.84%

Tomato (1kg)

$6.61 ISK 803

$1.57 CLP 1,538

321.02%

Potato (1kg)

$3.85 ISK 467

$0.95 CLP 931

305.26%

Onion (1kg)

$1.66 ISK 201

$1.29 CLP 1,264

28.68%

Lettuce (1 head)

$3.80 ISK 461

$1.19 CLP 1,163

219.33%

Water (1.5 liter bottle)

$1.75 ISK 212

$1.13 CLP 1,104

54.87%

Cigarettes 20 Pack (Marlboro, Camel)

$13.71 ISK 1,663

$4.30 CLP 4,212

218.84%

Wine (Bottle)

$24.21 ISK 2,938

$5.13 CLP 5,027

371.93%

Local Beer (0.5 liter bottle)

$3.53 ISK 429

$1.34 CLP 1,311

163.43%

Imported Beer (0.33 liter bottle)

$3.32 ISK 402

$1.80 CLP 1,761

84.44%

One-way Ticket (Public Transport)

$5.75 ISK 698

$0.58 CLP 567

891.38%

Public Transport Monthly Pass (Regular Price)

$93.8 ISK 11.4K

$52.1 CLP 51.0K

80.13%

Taxi Start (Normal Tariff)

$6.61 ISK 803

$0.39 CLP 387

1594.87%

Taxi (Normal Tariff) (1km)

$2.90 ISK 352

$0.84 CLP 821

245.24%

Taxi 1hour Waiting (Normal Tariff)

$79.2 ISK 9,607

$3.69 CLP 3,613

2045.26%

Gasoline (1 liter)

$2.09 ISK 254

$1.44 CLP 1,410

45.14%

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

$51.0K ISK 6.2M

$14.3K CLP 14.0M

257.58%

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

$53.3K ISK 6.5M

$18.7K CLP 18.3M

184.69%

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

$95.3 ISK 11.6K

$115 CLP 112.4K

-16.91%

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

$32.35 ISK 3,925

$12.38 CLP 12.1K

161.31%

Internet (50+ Mbps, Unlimited Data)

$87.5 ISK 10.6K

$18.89 CLP 18.5K

363.42%

Gym Membership (Monthly)

$102 ISK 12.4K

$24.08 CLP 23.6K

323.01%

Tennis Court (1 Hour on Weekend)

$50.1 ISK 6,077

$22.81 CLP 22.4K

119.55%

Cinema Ticket

$19.88 ISK 2,413

$7.68 CLP 7,523

158.85%

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

$1,194 ISK 144.9K

$433 CLP 424.3K

175.77%

International Primary School, 1 Child (Yearly)

$25.4K ISK 3.1M

$10.8K CLP 10.6M

134.89%

Jeans (Levis 501 Or Similar)

$149 ISK 18.1K

$32.15 CLP 31.5K

363.55%

Summer Dress (H&M, Zara, etc)

$66.6 ISK 8,084

$28.47 CLP 27.9K

134.00%

Sport Shoes (Adidas, Nike)

$180 ISK 21.8K

$54.1 CLP 53.0K

232.74%

Men's Leather Business Shoes

$253 ISK 30.7K

$49.03 CLP 48.0K

416.50%

1-bedroom Apartment, City Center (Monthly)

$2,549 ISK 309.3K

$463 CLP 453.5K

450.85%

1-bedroom Apartment, Outside City Center (Monthly)

$2,056 ISK 249.5K

$387 CLP 379.5K

430.88%

3-bedroom Apartment, City Center (Monthly)

$3,498 ISK 424.4K

$669 CLP 655.2K

423.16%

3-bedroom Apartment, Outside City Center (Monthly)

$2,764 ISK 335.4K

$554 CLP 542.8K

399.01%

Buy Apartment in City Center (m2)

$8,120 ISK 985.3K

$1,543 CLP 1.5M

426.10%

Buy Apartment Outside City Center (m2)

$6,254 ISK 758.9K

$1,037 CLP 1.0M

502.99%

Average Monthly Net Salary (After Tax)

$4,573 ISK 554.9K

$758 CLP 743.1K

503.05%

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 12, 2026

Last update for Valparaiso: October 13, 2026

Monthly budget structure

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

Accommodation & Living

Reykjavik

$2.1K 51.4%

Valparaiso

$387 35.3% 81.2% $1.7K

Groceries & Markets

Reykjavik

$623 15.6%

Valparaiso

$224 20.4% 64.1% $399

Eating Out

Reykjavik

$536 13.4%

Valparaiso

$168 15.3% 68.7% $368

Clothing & Footwear

Reykjavik

$292 7.3%

Valparaiso

$74 6.7% 74.8% $218

Monthly Utilities & Internet

Reykjavik

$215 5.4%

Valparaiso

$146 13.3% 32.2% $69

Sport & Entertainment

Reykjavik

$142 3.5%

Valparaiso

$39 3.6% 72.2% $102

Getting Around

Reykjavik

$138 3.5%

Valparaiso

$59 5.4% 57.2% $79

Cost Breakdown

A central one-bedroom costs $2,549 in Reykjavik versus $463 in Valparaiso. 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 503% 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 $36.00 in Valparaiso. Monthly groceries follow the same trend: $623 vs $224 – making Valparaiso the more affordable choice for daily food spending.

Good to know

🇮🇸 Reykjavik

🇨🇱 Valparaiso

🕒 Local time

07:14 7:14 AM

04:14 4:14 AM

3 h behind Reykjavik

🌤 Weather

👥 Population

136,894 Capital

251,177

💱 Currency

Icelandic Króna ISK kr

Chilean Peso CLP $

📈 Exchange rate

1,000 ISK = 8.24 USD

1,000 ISK = 7.35 EUR

10,000 CLP = 10.2 USD

10,000 CLP = 9.1 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 16, 2026: 1 USD = 121 ISK (1,000 ISK = 8.24 USD). 1 EUR = 136 ISK (1,000 ISK = 7.35 EUR).

Chilean Peso exchange rates as of October 16, 2026: 1 USD = 980 CLP (1,000 CLP = 1.02 USD). 1 EUR = 1,099 CLP (10,000 CLP = 9.1 EUR).

USD to ISK in detail →

On the map

Lowest

Highest

Between locations

Reykjavik Valparaiso 11,640 km ≈ 15 h nonstop flight

From you

Reykjavik
Valparaiso

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 Valparaiso: Cost of Living - Frequently Asked Questions

Reykjavik costs about 265% more than Valparaiso, 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 $6,003 per month in Reykjavik and $1,646 in Valparaiso. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Rent is clearly cheaper in Valparaiso, 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 $1,097 in Valparaiso. That's a gap of about 265%.

Public transport costs about 80% less in Valparaiso. For daily commuters, that gap adds up to noticeable savings over a year.

A $2,000 monthly budget goes further in Valparaiso, where all-in costs run around $1,097, than in Reykjavik at $4,002. In Valparaiso it covers expenses comfortably, while in Reykjavik it requires careful planning or may not stretch far enough.

For digital nomads, it depends on budget. Valparaiso costs $1,097 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 Valparaiso. 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.