Cost of living comparison

compared to

Mexico City vs. Iceland Cost of Living Summary

Mexico City is 36.6% cheaper than Iceland overall.

Restaurants: pay 57.0% less in Mexico City
Groceries: pay 29.5% less in Mexico City
Transportation: pay 64.5% less in Mexico City
Housing: pay 57.3% less in Mexico City
Childcare: pay 44.2% more in Mexico City
Entertainment and Sports: pay 50.0% less in Mexico City
Clothing: pay 42.1% less in Mexico City

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

Mexico City vs. Iceland Cost Breakdown

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

Display currency: USD

pay 57.0% less for restaurants

	Iceland	Mexico City
Basic meal with drink at inexpensive restaurant	$19.40 ISK2,711	$9.93 MX$204.83	-48.8%
Fast food combo meal McDonalds, or similar	$16.94 ISK2,368	$7.45 MX$153.62	-56.0%
Bottle of Coca-Cola (11 fl. oz)	$2.81 ISK393	$1.08 MX$22.27	-61.6%
Bottle of water (11 fl. oz)	$2.02 ISK283	$0.77 MX$15.94	-61.8%
Average			-57.0%

Iceland vs. Mexico City - Cost of restaurants

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pay 29.5% less for groceries

	Iceland	Mexico City
Bread 1 loaf	$2.95 ISK413	$2.45 MX$50.59	-17.0%
Local cheese (8 oz)	$7.27 ISK1,016	$4.87 MX$100.40	-33.0%
Milk (1 gallon)	$6.01 ISK840	$5.51 MX$113.62	-8.3%
Eggs 1 dozen	$5.42 ISK757	$2.18 MX$45.03	-59.7%
Boneless chicken breast (1 lb)	$8.51 ISK1,189	$3.57 MX$73.66	-58.0%
Apples (1 lb)	$1.22 ISK171	$1.22 MX$25.20	-0.2%
Bananas (1 lb)	$1.03 ISK143	$0.67 MX$13.81	-34.8%
Oranges (1 lb)	$1.17 ISK164	$0.80 MX$16.48	-31.8%
Tomatoes (1 lb)	$1.87 ISK262	$0.83 MX$17.07	-55.8%
Potatoes (1 lb)	$1.23 ISK173	$0.85 MX$17.56	-31.1%
Onions (1 lb)	$0.78 ISK110	$0.83 MX$17.07	+5.5%
Average			-29.5%

Iceland vs. Mexico City - Cost of groceries

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pay 64.5% less for transportation

	Iceland	Mexico City
Gasoline (1 gallon)	$8.36 ISK1,169	$4.64 MX$95.67	-44.5%
Monthly public transit pass	$71.28 ISK9,963	$17.87 MX$368.69	-74.9%
New Volkswagen Golf 1.4 (standard edition)	$40,660.66 ISK5,683,547	$18,615.02 MX$384,053.88	-54.2%
Taxi trip in downtown area (5 miles)	$22.04 ISK3,080	$3.47 MX$71.69	-84.2%
Average			-64.5%

Iceland vs. Mexico City - Cost of transportation

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pay 57.3% less for housing

	Iceland	Mexico City
Internet connection 50 mbps or faster, cable/dsl	$72.17 ISK10,089	$24.38 MX$502.98	-66.2%
1-Bedroom apartment in downtown area	$1,838.04 ISK256,921	$893.52 MX$18,434.59	-51.4%
1-Bedroom apartment outside city center	$1,497.77 ISK209,358	$544.24 MX$11,228.34	-63.7%
Utilities for two (700 sq ft apartment) including electric, gas, water, heating	$58.01 ISK8,109	$30.31 MX$625.36	-47.8%
Average			-57.3%

Iceland vs. Mexico City - Cost of housing

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pay 44.2% more for childcare

	Iceland	Mexico City
Private preschool for 1 child, monthly	$258.16 ISK36,086	$381.33 MX$7,867.29	+47.7%
Middle school for 1 child, two semesters	$5,993.99 ISK837,840	$8,426.99 MX$173,860.58	+40.6%
Average			+44.2%

Iceland vs. Mexico City - Cost of childcare

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pay 50.0% less for entertainment and sports

	Iceland	Mexico City
Domestic/local beer (1 pint)	$9.19 ISK1,284	$2.73 MX$56.33	-70.3%
Cappuccino in mid-range area	$4.65 ISK650	$3.01 MX$62.02	-35.3%
Pack of cigarettes Marlboro or similar	$11.76 ISK1,643	$3.92 MX$80.91	-66.6%
Monthly membership at local gym	$61.46 ISK8,591	$53.69 MX$1,107.64	-12.6%
Movie ticket to theater/cinema	$14.35 ISK2,006	$4.96 MX$102.41	-65.4%
Average			-50.0%

Iceland vs. Mexico City - Cost of entertainment and sports

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pay 42.1% less for clothing

	Iceland	Mexico City
Regular jeans Levi's brand	$111.23 ISK15,548	$56.36 MX$1,162.69	-49.3%
Regular dress from H&M or similar store	$59.69 ISK8,343	$41.06 MX$847.11	-31.2%
Running shoes Nike or Adidas	$148.00 ISK20,687	$91.99 MX$1,897.94	-37.8%
Men's business shoes (leather)	$184.49 ISK25,789	$91.93 MX$1,896.63	-50.2%
Average			-42.1%

Iceland vs. Mexico City - 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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