Cost of living comparison

compared to

Colombia vs. Iceland Cost of Living Summary

Colombia is 54.9% cheaper than Iceland overall.

Restaurants: pay 70.5% less in Colombia
Groceries: pay 54.4% less in Colombia
Transportation: pay 52.0% less in Colombia
Housing: pay 55.8% less in Colombia
Childcare: pay 26.7% less in Colombia
Entertainment and Sports: pay 75.5% less in Colombia
Clothing: pay 49.2% less in Colombia

Expenses including entertainment and sports, restaurants, housing, groceries, transportation, and clothing are lower in Colombia.

Colombia vs. Iceland Cost Breakdown

If you lived in Colombia instead of Iceland, you would:

Display currency: USD

pay 70.5% less for restaurants

	Iceland	Colombia
Basic meal with drink at inexpensive restaurant	$19.40 ISK2,407	$4.20 COP17,157.18	-78.3%
Fast food combo meal McDonalds, or similar	$16.94 ISK2,102	$6.62 COP27,034.00	-60.9%
Bottle of Coca-Cola (11 fl. oz)	$2.81 ISK349	$0.78 COP3,203.39	-72.1%
Bottle of water (11 fl. oz)	$2.02 ISK251	$0.60 COP2,431.38	-70.5%
Average			-70.5%

Iceland vs. Colombia - Cost of restaurants

Improve prices · Change currency (USD)

pay 54.4% less for groceries

	Iceland	Colombia
Bread 1 loaf	$2.95 ISK367	$1.27 COP5,192.33	-57.0%
Local cheese (8 oz)	$7.27 ISK902	$2.16 COP8,837.67	-70.2%
Milk (1 gallon)	$6.01 ISK745	$3.88 COP15,846.31	-35.4%
Eggs 1 dozen	$5.42 ISK672	$2.02 COP8,251.48	-62.7%
Boneless chicken breast (1 lb)	$8.51 ISK1,056	$2.19 COP8,937.26	-74.3%
Apples (1 lb)	$1.22 ISK152	$1.07 COP4,375.09	-12.4%
Bananas (1 lb)	$1.03 ISK127	$0.45 COP1,857.07	-55.7%
Oranges (1 lb)	$1.17 ISK145	$0.55 COP2,253.27	-52.9%
Tomatoes (1 lb)	$1.87 ISK232	$0.46 COP1,867.77	-75.6%
Potatoes (1 lb)	$1.23 ISK153	$0.50 COP2,043.50	-59.4%
Onions (1 lb)	$0.78 ISK97	$0.45 COP1,849.35	-42.3%
Average			-54.4%

Iceland vs. Colombia - Cost of groceries

Improve prices · Change currency (USD)

pay 52.0% less for transportation

	Iceland	Colombia
Gasoline (1 gallon)	$8.36 ISK1,038	$3.05 COP12,470.00	-63.5%
Monthly public transit pass	$71.28 ISK8,846	$34.31 COP140,085.65	-51.9%
New Volkswagen Golf 1.4 (standard edition)	$40,660.66 ISK5,045,988	$17,642.99 COP72,036,527.87	-56.6%
Taxi trip in downtown area (5 miles)	$22.04 ISK2,735	$14.10 COP57,562.71	-36.0%
Average			-52.0%

Iceland vs. Colombia - Cost of transportation

Improve prices · Change currency (USD)

pay 55.8% less for housing

	Iceland	Colombia
Internet connection 50 mbps or faster, cable/dsl	$72.17 ISK8,957	$22.88 COP93,405.36	-68.3%
1-Bedroom apartment in downtown area	$1,838.04 ISK228,101	$272.41 COP1,112,264.67	-85.2%
1-Bedroom apartment outside city center	$1,497.77 ISK185,873	$235.87 COP963,062.19	-84.3%
Utilities for two (700 sq ft apartment) including electric, gas, water, heating	$58.01 ISK7,200	$66.40 COP271,123.35	+14.5%
Average			-55.8%

Iceland vs. Colombia - Cost of housing

Improve prices · Change currency (USD)

pay 26.7% less for childcare

	Iceland	Colombia
Private preschool for 1 child, monthly	$258.16 ISK32,038	$190.65 COP778,444.03	-26.2%
Middle school for 1 child, two semesters	$5,993.99 ISK743,855	$4,364.51 COP17,820,359.84	-27.2%
Average			-26.7%

Iceland vs. Colombia - Cost of childcare

Improve prices · Change currency (USD)

pay 75.5% less for entertainment and sports

	Iceland	Colombia
Domestic/local beer (1 pint)	$9.19 ISK1,140	$1.15 COP4,711.33	-87.4%
Cappuccino in mid-range area	$4.65 ISK577	$1.40 COP5,733.56	-69.8%
Pack of cigarettes Marlboro or similar	$11.76 ISK1,459	$2.09 COP8,544.31	-82.2%
Monthly membership at local gym	$61.46 ISK7,627	$22.45 COP91,682.44	-63.5%
Movie ticket to theater/cinema	$14.35 ISK1,781	$3.65 COP14,918.75	-74.5%
Average			-75.5%

Iceland vs. Colombia - Cost of entertainment and sports

Improve prices · Change currency (USD)

pay 49.2% less for clothing

	Iceland	Colombia
Regular jeans Levi's brand	$111.23 ISK13,804	$52.02 COP212,399.49	-53.2%
Regular dress from H&M or similar store	$59.69 ISK7,407	$38.22 COP156,072.43	-36.0%
Running shoes Nike or Adidas	$148.00 ISK18,367	$81.60 COP333,193.44	-44.9%
Men's business shoes (leather)	$184.49 ISK22,896	$69.09 COP282,079.19	-62.6%
Average			-49.2%

Iceland vs. Colombia - Cost of clothing

Improve prices · Change currency (USD)

The statistics used to build this comparison are calculated using data from users just like you. We average the price of thousands of data points entered by users across the world. Learn more about our data sources. Page last updated: June 2025

More cost comparisons

Iceland vs.

Ukraine

Iceland vs.

Greece

Iceland vs.

Poland

Iceland vs.

Ireland

Iceland vs.

Vietnam

Iceland vs.

Canada

Iceland vs.

Austria

Iceland vs.

Ecuador

Share this

Compare by city

For example, try comparing the cost of living in Reykjavik vs. Bogota

Help us improve these prices

MyLifeElsewhere is a collaborative project. Please enter price information for your location to help assist us in making these comparisons more accurate. Learn more

Add prices for Iceland

Add prices for Colombia

ASK THE ELSEWHERE COMMUNITY

Join the Elsewhere community and ask a question about Colombia or Iceland. It's a free, question-and-answer based forum to discuss what life is like in countries and cities around the world.