Cost of living comparison

compared to

Medellin vs. Reykjavik Cost of Living Summary

Medellin is 55.9% cheaper than Reykjavik.

Restaurants: pay 69.5% less in Medellin
Groceries: pay 60.0% less in Medellin
Transportation: pay 52.2% less in Medellin
Housing: pay 54.1% less in Medellin
Childcare: pay 28.6% less in Medellin
Entertainment and Sports: pay 77.7% less in Medellin
Clothing: pay 48.9% less in Medellin

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

Medellin vs. Reykjavik Cost Breakdown

If you lived in Medellin instead of Reykjavik, you would:

Display currency: USD

pay 69.5% less for restaurants

	Reykjavik	Medellin
Basic meal with drink at inexpensive restaurant	$27.48 ISK3,517	$6.40 COP24,314.59	-76.7%
Fast food combo meal McDonalds, or similar	$22.76 ISK2,913	$7.68 COP29,177.51	-66.3%
Bottle of Coca-Cola (11 fl. oz)	$3.34 ISK427	$1.16 COP4,418.62	-65.1%
Bottle of water (11 fl. oz)	$2.70 ISK345	$0.81 COP3,061.70	-70.1%
Average			-69.5%

Reykjavik vs. Medellin - Cost of restaurants

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pay 60.0% less for groceries

	Reykjavik	Medellin
Bread 1 loaf	$4.63 ISK593	$1.42 COP5,405.22	-69.3%
Local cheese (8 oz)	$9.44 ISK1,208	$2.26 COP8,588.71	-76.0%
Milk (1 gallon)	$7.63 ISK976	$4.18 COP15,869.58	-45.3%
Eggs 1 dozen	$6.50 ISK832	$2.36 COP8,956.02	-63.7%
Boneless chicken breast (1 lb)	$11.29 ISK1,445	$2.61 COP9,900.20	-76.9%
Apples (1 lb)	$1.59 ISK204	$1.13 COP4,297.52	-28.9%
Bananas (1 lb)	$1.17 ISK150	$0.48 COP1,840.64	-58.6%
Oranges (1 lb)	$1.49 ISK190	$0.79 COP3,018.77	-46.6%
Tomatoes (1 lb)	$2.54 ISK325	$0.65 COP2,450.87	-74.6%
Potatoes (1 lb)	$1.70 ISK217	$0.58 COP2,218.04	-65.6%
Onions (1 lb)	$1.13 ISK145	$0.51 COP1,946.61	-54.7%
Average			-60.0%

Reykjavik vs. Medellin - Cost of groceries

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pay 52.2% less for transportation

	Reykjavik	Medellin
Gasoline (1 gallon)	$9.66 ISK1,236	$3.94 COP14,969.53	-59.2%
Monthly public transit pass	$88.58 ISK11,337	$43.52 COP165,339.21	-50.9%
New Volkswagen Golf 1.4 (standard edition)	$50,771.00 ISK6,497,672	$18,943.94 COP71,971,186.19	-62.7%
Taxi trip in downtown area (5 miles)	$28.07 ISK3,592	$17.92 COP68,080.85	-36.2%
Average			-52.2%

Reykjavik vs. Medellin - Cost of transportation

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pay 54.1% less for housing

	Reykjavik	Medellin
Internet connection 50 mbps or faster, cable/dsl	$81.97 ISK10,490	$25.49 COP96,826.10	-68.9%
1-Bedroom apartment in downtown area	$2,259.48 ISK289,169	$532.59 COP2,023,393.98	-76.4%
1-Bedroom apartment outside city center	$2,034.90 ISK260,427	$400.83 COP1,522,836.11	-80.3%
Utilities for two (700 sq ft apartment) including electric, gas, water, heating	$60.87 ISK7,791	$66.50 COP252,654.43	+9.2%
Average			-54.1%

Reykjavik vs. Medellin - Cost of housing

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pay 28.6% less for childcare

	Reykjavik	Medellin
Private preschool for 1 child, monthly	$327.78 ISK41,949	$400.53 COP1,521,689.25	+22.2%
Middle school for 1 child, two semesters	$30,711.08 ISK3,930,404	$6,297.58 COP23,925,556.49	-79.5%
Average			-28.6%

Reykjavik vs. Medellin - Cost of childcare

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pay 77.7% less for entertainment and sports

	Reykjavik	Medellin
Domestic/local beer (1 pint)	$13.12 ISK1,680	$1.79 COP6,808.09	-86.3%
Cappuccino in mid-range area	$6.17 ISK790	$1.76 COP6,684.50	-71.5%
Pack of cigarettes Marlboro or similar	$13.94 ISK1,783	$2.30 COP8,753.25	-83.5%
Monthly membership at local gym	$87.35 ISK11,179	$26.71 COP101,472.89	-69.4%
Movie ticket to theater/cinema	$17.18 ISK2,199	$3.84 COP14,588.75	-77.7%
Average			-77.7%

Reykjavik vs. Medellin - Cost of entertainment and sports

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pay 48.9% less for clothing

	Reykjavik	Medellin
Regular jeans Levi's brand	$145.10 ISK18,569	$66.24 COP251,656.01	-54.3%
Regular dress from H&M or similar store	$63.97 ISK8,187	$37.24 COP141,466.71	-41.8%
Running shoes Nike or Adidas	$193.43 ISK24,755	$108.25 COP411,263.92	-44.0%
Men's business shoes (leather)	$248.79 ISK31,840	$110.81 COP420,989.76	-55.5%
Average			-48.9%

Reykjavik vs. Medellin - 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: December 2025

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