Cost of living comparison

compared to

Iceland vs. Mexico City Cost of Living Summary

Iceland is 2.1 times more expensive than Mexico City.

Restaurants: pay 2.4 times more in Iceland
Groceries: pay 57.5% more in Iceland
Transportation: pay 3.6 times more in Iceland
Housing: pay 2.4 times more in Iceland
Childcare: pay 30.6% less in Iceland
Entertainment and Sports: pay 2.4 times more in Iceland
Clothing: pay 76.1% more in Iceland

The cost of transportation, housing, entertainment and sports, restaurants, clothing, and groceries in Iceland are more expensive than in Mexico City. Notably, transportation, housing, and entertainment and sports are significantly more expensive in Iceland.

Iceland vs. Mexico City Cost Breakdown

If you lived in Iceland instead of Mexico City, you would:

Display currency: USD

pay 2.4 times more for restaurants

	Mexico City	Iceland
Basic meal with drink at inexpensive restaurant	$9.93 MX$205.69	$19.40 ISK2,740	+95.4%
Fast food combo meal McDonalds, or similar	$7.45 MX$154.27	$16.94 ISK2,393	+127.5%
Bottle of Coca-Cola (11 fl. oz)	$1.08 MX$22.36	$2.81 ISK397	+160.4%
Bottle of water (11 fl. oz)	$0.77 MX$16.01	$2.02 ISK286	+161.6%
Average			+136.2%

Mexico City vs. Iceland - Cost of restaurants

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pay 57.5% more for groceries

	Mexico City	Iceland
Bread 1 loaf	$2.45 MX$50.80	$2.95 ISK417	+20.5%
Local cheese (8 oz)	$4.87 MX$100.82	$7.27 ISK1,026	+49.3%
Milk (1 gallon)	$5.51 MX$114.10	$6.01 ISK848	+9.1%
Eggs 1 dozen	$2.18 MX$45.22	$5.42 ISK765	+148.3%
Boneless chicken breast (1 lb)	$3.57 MX$73.97	$8.51 ISK1,202	+138.3%
Apples (1 lb)	$1.22 MX$25.31	$1.22 ISK173	+0.2%
Bananas (1 lb)	$0.67 MX$13.86	$1.03 ISK145	+53.4%
Oranges (1 lb)	$0.80 MX$16.55	$1.17 ISK165	+46.6%
Tomatoes (1 lb)	$0.83 MX$17.14	$1.87 ISK265	+126.4%
Potatoes (1 lb)	$0.85 MX$17.63	$1.23 ISK174	+45.1%
Onions (1 lb)	$0.83 MX$17.15	$0.78 ISK111	-5.2%
Average			+57.5%

Mexico City vs. Iceland - Cost of groceries

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pay 3.6 times more for transportation

	Mexico City	Iceland
Gasoline (1 gallon)	$4.64 MX$96.07	$8.36 ISK1,181	+80.3%
Monthly public transit pass	$17.87 MX$370.24	$71.28 ISK10,067	+298.9%
New Volkswagen Golf 1.4 (standard edition)	$18,615.02 MX$385,667.80	$40,660.66 ISK5,742,912	+118.4%
Taxi trip in downtown area (5 miles)	$3.47 MX$71.99	$22.04 ISK3,112	+534.2%
Average			+257.9%

Mexico City vs. Iceland - Cost of transportation

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pay 2.4 times more for housing

	Mexico City	Iceland
Internet connection 50 mbps or faster, cable/dsl	$24.38 MX$505.09	$72.17 ISK10,194	+196.0%
1-Bedroom apartment in downtown area	$893.52 MX$18,512.05	$1,838.04 ISK259,604	+105.7%
1-Bedroom apartment outside city center	$544.24 MX$11,275.52	$1,497.77 ISK211,545	+175.2%
Utilities for two (700 sq ft apartment) including electric, gas, water, heating	$30.31 MX$627.99	$58.01 ISK8,194	+91.4%
Average			+142.1%

Mexico City vs. Iceland - Cost of housing

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pay 30.6% less for childcare

	Mexico City	Iceland
Private preschool for 1 child, monthly	$381.33 MX$7,900.35	$258.16 ISK36,463	-32.3%
Middle school for 1 child, two semesters	$8,426.99 MX$174,591.20	$5,993.99 ISK846,592	-28.9%
Average			-30.6%

Mexico City vs. Iceland - Cost of childcare

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pay 2.4 times more for entertainment and sports

	Mexico City	Iceland
Domestic/local beer (1 pint)	$2.73 MX$56.56	$9.19 ISK1,298	+236.5%
Cappuccino in mid-range area	$3.01 MX$62.28	$4.65 ISK657	+54.6%
Pack of cigarettes Marlboro or similar	$3.92 MX$81.25	$11.76 ISK1,660	+199.8%
Monthly membership at local gym	$53.69 MX$1,112.30	$61.46 ISK8,681	+14.5%
Movie ticket to theater/cinema	$4.96 MX$102.84	$14.35 ISK2,027	+189.0%
Average			+138.9%

Mexico City vs. Iceland - Cost of entertainment and sports

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pay 76.1% more for clothing

	Mexico City	Iceland
Regular jeans Levi's brand	$56.36 MX$1,167.58	$111.23 ISK15,710	+97.4%
Regular dress from H&M or similar store	$41.06 MX$850.67	$59.69 ISK8,430	+45.4%
Running shoes Nike or Adidas	$91.99 MX$1,905.91	$148.00 ISK20,903	+60.9%
Men's business shoes (leather)	$91.93 MX$1,904.60	$184.49 ISK26,058	+100.7%
Average			+76.1%

Mexico City vs. Iceland - 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: January 2025

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