Cost of living comparison

compared to

Paraguay vs. Iceland Cost of Living Summary

Paraguay is 71.2% cheaper than Iceland overall.

Restaurants: pay 79.0% less in Paraguay
Groceries: pay 66.1% less in Paraguay
Transportation: pay 66.6% less in Paraguay
Housing: pay 76.7% less in Paraguay
Childcare: pay 77.2% less in Paraguay
Entertainment and Sports: pay 76.0% less in Paraguay
Clothing: pay 56.5% less in Paraguay

Expenses including restaurants, childcare, housing, entertainment and sports, transportation, and groceries are lower in Paraguay.

Paraguay vs. Iceland Cost Breakdown

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

Display currency: USD

pay 79.0% less for restaurants

	Iceland	Paraguay
Basic meal with drink at inexpensive restaurant	$26.52 ISK3,254	$4.00 PYG26,363	-84.9%
Fast food combo meal McDonalds, or similar	$21.32 ISK2,616	$5.16 PYG33,997	-75.8%
Bottle of Coca-Cola (11 fl. oz)	$3.11 ISK382	$0.83 PYG5,447	-73.4%
Bottle of water (11 fl. oz)	$2.72 ISK334	$0.49 PYG3,205	-82.1%
Average			-79.0%

Iceland vs. Paraguay - Cost of restaurants

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pay 66.1% less for groceries

	Iceland	Paraguay
Bread 1 loaf	$3.80 ISK467	$1.04 PYG6,830	-72.7%
Local cheese (8 oz)	$9.44 ISK1,158	$3.49 PYG22,994	-63.0%
Milk (1 gallon)	$7.78 ISK955	$3.52 PYG23,186	-54.8%
Eggs 1 dozen	$6.71 ISK823	$1.81 PYG11,901	-73.1%
Boneless chicken breast (1 lb)	$11.22 ISK1,377	$1.51 PYG9,937	-86.6%
Apples (1 lb)	$1.50 ISK184	$0.94 PYG6,203	-37.0%
Bananas (1 lb)	$1.15 ISK141	$0.41 PYG2,669	-64.7%
Oranges (1 lb)	$1.41 ISK174	$0.40 PYG2,658	-71.5%
Tomatoes (1 lb)	$2.34 ISK287	$0.73 PYG4,832	-68.7%
Potatoes (1 lb)	$1.65 ISK202	$0.46 PYG3,008	-72.3%
Onions (1 lb)	$1.09 ISK134	$0.41 PYG2,697	-62.6%
Average			-66.1%

Iceland vs. Paraguay - Cost of groceries

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pay 66.6% less for transportation

	Iceland	Paraguay
Gasoline (1 gallon)	$9.65 ISK1,185	$3.61 PYG23,775	-62.6%
Monthly public transit pass	$79.56 ISK9,763	$28.58 PYG188K	-64.1%
New Volkswagen Golf 1.4 (standard edition)	$49,144.25 ISK6M	$15,411.13 PYG102M	-68.6%
Taxi trip in downtown area (5 miles)	$25.55 ISK3,136	$7.41 PYG48,826	-71.0%
Average			-66.6%

Iceland vs. Paraguay - Cost of transportation

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pay 76.7% less for housing

	Iceland	Paraguay
Internet connection 50 mbps or faster, cable/dsl	$95.65 ISK11,737	$16.79 PYG111K	-82.4%
1-Bedroom apartment in downtown area	$2,289.17 ISK281K	$394.03 PYG3M	-82.8%
1-Bedroom apartment outside city center	$1,830.04 ISK225K	$298.30 PYG2M	-83.7%
Utilities for two (700 sq ft apartment) including electric, gas, water, heating	$65.15 ISK7,994	$27.56 PYG182K	-57.7%
Average			-76.7%

Iceland vs. Paraguay - Cost of housing

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pay 77.2% less for childcare

	Iceland	Paraguay
Private preschool for 1 child, monthly	$334.67 ISK41,067	$120.95 PYG797K	-63.9%
Middle school for 1 child, two semesters	$30,711.08 ISK4M	$2,948.66 PYG19M	-90.4%
Average			-77.2%

Iceland vs. Paraguay - Cost of childcare

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pay 76.0% less for entertainment and sports

	Iceland	Paraguay
Domestic/local beer (1 pint)	$11.14 ISK1,367	$1.33 PYG8,768	-88.1%
Cappuccino in mid-range area	$5.62 ISK690	$1.82 PYG11,985	-67.7%
Pack of cigarettes Marlboro or similar	$13.90 ISK1,705	$1.26 PYG8,307	-90.9%
Monthly membership at local gym	$78.17 ISK9,593	$26.69 PYG176K	-65.9%
Movie ticket to theater/cinema	$16.75 ISK2,056	$5.49 PYG36,150	-67.2%
Average			-76.0%

Iceland vs. Paraguay - Cost of entertainment and sports

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pay 56.5% less for clothing

	Iceland	Paraguay
Regular jeans Levi's brand	$130.91 ISK16,063	$55.16 PYG363K	-57.9%
Regular dress from H&M or similar store	$61.83 ISK7,587	$37.83 PYG249K	-38.8%
Running shoes Nike or Adidas	$163.81 ISK20,102	$78.06 PYG514K	-52.4%
Men's business shoes (leather)	$237.31 ISK29,120	$55.34 PYG365K	-76.7%
Average			-56.5%

Iceland vs. Paraguay - Cost of clothing

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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: February 2026

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