Yes, indeed the reward is much higher; not only higher than people living in another place at the same time, but even higher than the companions doing a similar deed. The Prophet ﷺ told us that the time will come when we feel estranged wherever we live, and that holding on to our identity and teachings of Islam will be as tough as someone grabbing (yes, grabbing, not just touching) a piece of charcoal. The reward, though, is fifty times that of the companions of the Prophet ﷺ.
The Prophet ﷺ informed us that there will be a time (which we are living in now, or at least quickly approaching it) when Muslims will feel as estranged as they were during the early years of his message to Quraish:
حَدَّثَنَا مُحَمَّدُ بْنُ عَبَّادٍ، وَابْنُ أَبِي عُمَرَ، جَمِيعًا عَنْ مَرْوَانَ الْفَزَارِيِّ، قَالَ ابْنُ عَبَّادٍ حَدَّثَنَا مَرْوَانُ، عَنْ يَزِيدَ، - يَعْنِي ابْنَ كَيْسَانَ - عَنْ أَبِي حَازِمٍ، عَنْ أَبِي هُرَيْرَةَ، قَالَ قَالَ رَسُولُ اللَّهِ صلى الله عليه وسلم: بَدَأَ الإِسْلاَمُ غَرِيبًا وَسَيَعُودُ كَمَا بَدَأَ غَرِيبًا فَطُوبَى لِلْغُرَبَاءِ
It is narrated on the authority of Abu Huraira that the Messenger of Allah (ﷺ) said: Islam initiated as something strange, and it would revert to its (old position) of being strange. so good tidings for the stranger.
— Sahih Muslim » Book of Faith » Hadith 145
The Prophet ﷺ gives good tidings to those who are estranged. Being estranged is not due to having fewer Muslims (now numbering well over one billion), but due to fewer Muslims properly following the teachings of Islam. In another narration of this hadith, the Prophet ﷺ said: "They are a few righteous people among a lot of bad people." (Arabic: هم أناس صالحون قليل في أناس سوء كثير). However, the Prophet ﷺ gives good tidings to those who are strangers in their societies. See Islam Began as Something Strange on Islam Q&A for more information on this hadith.
The good tidings are in the reward being fifty times that of the companions of the Prophet ﷺ. Even the companions, when the Prophet ﷺ told them so, they questioned him: fifty folds of people among ourselves or among the companions. This is under the condition that we comply with the teachings of Islam, enjoin what is right, and forbid what is wrong. Read:
حَدَّثَنَا سَعِيدُ بْنُ يَعْقُوبَ الطَّالْقَانِيُّ، حَدَّثَنَا عَبْدُ اللَّهِ بْنُ الْمُبَارَكِ، أَخْبَرَنَا عُتْبَةُ بْنُ أَبِي حَكِيمٍ، حَدَّثَنَا عَمْرُو بْنُ جَارِيَةَ اللَّخْمِيُّ، عَنْ أَبِي أُمَيَّةَ الشَّعْبَانِيِّ، قَالَ أَتَيْتُ أَبَا ثَعْلَبَةَ الْخُشَنِيَّ فَقُلْتُ لَهُ كَيْفَ تَصْنَعُ فِي هَذِهِ الآيَةِ قَالَ أَيَّةُ آيَةٍ قُلْتُ قَوْلُهُ : « يَا أَيُّهَا الَّذِينَ آمَنُوا عَلَيْكُمْ أَنْفُسَكُمْ لاَ يَضُرُّكُمْ مَنْ ضَلَّ إِذَا اهْتَدَيْتُمْ » قَالَ أَمَا وَاللَّهِ لَقَدْ سَأَلْتَ عَنْهَا خَبِيرًا سَأَلْتُ عَنْهَا رَسُولَ اللَّهِ صلى الله عليه وسلم فَقَالَ: بَلِ ائْتَمِرُوا بِالْمَعْرُوفِ وَتَنَاهَوْا عَنِ الْمُنْكَرِ حَتَّى إِذَا رَأَيْتَ شُحًّا مُطَاعًا وَهَوًى مُتَّبَعًا وَدُنْيَا مُؤْثَرَةً وَإِعْجَابَ كُلِّ ذِي رَأْىٍ بِرَأْيِهِ فَعَلَيْكَ بِخَاصَّةِ نَفْسِكَ وَدَعِ الْعَوَامَّ فَإِنَّ مِنْ وَرَائِكُمْ أَيَّامًا الصَّبْرُ فِيهِنَّ مِثْلُ الْقَبْضِ عَلَى الْجَمْرِ لِلْعَامِلِ فِيهِنَّ مِثْلُ أَجْرِ خَمْسِينَ رَجُلاً يَعْمَلُونَ مِثْلَ عَمَلِكُمْ. قَالَ عَبْدُ اللَّهِ بْنُ الْمُبَارَكِ وَزَادَنِي غَيْرُ عُتْبَةَ قِيلَ يَا رَسُولَ اللَّهِ أَجْرُ خَمْسِينَ رَجُلاً مِنَّا أَوْ مِنْهُمْ. قَالَ: لاَ بَلْ أَجْرُ خَمْسِينَ مِنْكُمْ
Narrated Abu Umayah Ash-Sha'bani: "I went to Abu Tha'balah Al-Khushani and said to him: 'How do you deal with this Ayah?' He said: 'Which Ayah?' I said: 'Allah's saying: Take care of yourselves! If you follow the guidance no harm shall come to you (5:105).' He said: 'Well, by Allah! I asked one well-informed about it, I asked the Messenger of Allah (ﷺ) about it.
[So] he said: "Rather, comply with (and order) the good, and stay away from (and prohibit) the evil, until you see avarice obeyed, desires followed, and the world preferred, and everyone is amazed with his view. Then you should be worried about yourself in particular, and worry of the common folk. Ahead of you are the days in which patience is like holding onto an ember, for the doer (of righteous deeds) during them is the like of the reward of fifty of those who do the like of what you do."
'Abdullah bin Al-Mubarak said: "It was added for me, by other than 'Utbah, that it was said: 'O Messenger of Allah! The reward of fifty men among us, or them?' He said: 'No! Rather the reward of fifty men among you.'"
— Jami' at-Tirmidhi » Hadith 3058
For more information on this hadith, you may refer to The contrast between the deeds of the Sahaabah and the deeds of the people at the end of time on Islam Q&A.
One final note, the fifty-fold reward is related to equivalent acts, not at large. We all know that there is no way for us now to reach the same level of support that the first companions gave to Islam and to the Prophet ﷺ (effort, money, sacrifices, etc.). Also, we know that the best generation is that of the companions, then those who followed them, then those who followed them. In other words, those who hold onto an ember will get higher rewards than the companions per deed, but overall stance may not necessarily be as high.