Cost of Living & Salary Comparison 2026
Yes, Medellín is 21% cheaper than Lima based on our cost of living index. Medellín has a COLI of 20.4, while Lima has a COLI of 25.8. 21% cheaper
Overall, Medellín is approximately 21% cheaper than Lima based on our cost of living index. Lima has a COLI of 25.8 (ranked #93 of 182 cities), while Medellín has a COLI of 20.4 (ranked #109).
When it comes to housing, one-bedroom apartment rent in Lima averages $450/month compared to $350/month in Medellín. That makes Medellín approximately 22% cheaper for rent alone.
Medellín has lower total deductions (13.2%) compared to Lima (19.2%), meaning you keep more of your gross salary in Medellín. When evaluating a relocation, remember that total deductions directly impact your take-home pay and should be weighed alongside cost of living differences.
Full breakdown of mandatory payroll deductions for a mid-range salary as a local employee in each city.
Rates shown for local employees. Expat deductions may differ — use the main converter for personalized calculations.
If you earn S/277,861 in Lima, you would need approximately COP 246,497,618 in Medellín to maintain the same purchasing power. That is 21% less thanks to lower cost of living.
Estimated mid-level annual salaries in local currency, adjusted for each city's cost of living:
| Job Title | Lima (PEN) | Medellín (COP) |
|---|---|---|
| Doctor (General) | S/172,052 | COP 152,631,325 |
| Software Engineer | S/81,247 | COP 72,075,904 |
| Product Manager | S/95,584 | COP 84,795,181 |
| Lawyer | S/95,584 | COP 84,795,181 |
| Data Scientist | S/90,805 | COP 80,555,422 |
| Marketing Manager | S/68,821 | COP 61,052,530 |
| Teacher | S/45,880 | COP 40,701,687 |
| Nurse | S/55,439 | COP 49,181,205 |
Salary estimates are adjusted by each city's COLI relative to the New York baseline. Actual salaries vary by company, experience, and industry.
| Neighborhood | Multiplier |
|---|---|
| San Isidro | 1.30x (+30%) |
| Miraflores | 1.28x (+28%) |
| Barranco | 1.15x (+15%) |
| Surco | 1.08x (+8%) |
| La Molina | 1.05x (+5%) |
| Neighborhood | Multiplier |
|---|---|
| El Poblado | 1.30x (+30%) |
| San Lucas | 1.18x (+18%) |
| Provenza | 1.15x (+15%) |
| Laureles | 1.12x (+12%) |
| Envigado | 1.08x (+8%) |
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Open Salary ConverterLima is more expensive overall. Lima has a COLI of 25.8 while Medellín has a COLI of 20.4, making Medellín approximately 21% cheaper.
To maintain the same standard of living as S/277,861 in Lima, you would need approximately COP 246,497,618 in Medellín.
Average one-bedroom rent in Lima is $450/month compared to $350/month in Medellín. Medellín has lower rent by approximately 22%.
Medellín has lower total deductions (13.2%) compared to Lima (19.2%), meaning you keep more of your gross salary in Medellín.
Cost of living indices (COLI) are benchmarked to New York City = 100 and derived from Numbeo and Expatistan crowd-sourced price surveys, cross-referenced with national statistics agencies. Rent data from Numbeo Property Prices.
Salary ranges are compiled from the U.S. Bureau of Labor Statistics (OES), Glassdoor, and PayScale. Tax rates are approximate effective rates for mid-range earners based on OECD Taxing Wages and national tax authorities. Exchange rates from the European Central Bank. Neighborhood multipliers are estimated from local rental indices and property data.
Last updated: 2026-02-28. Data is refreshed periodically. All figures are estimates for informational purposes only.