Cost of Living Comparison Between Akureyri and Bolungarvik Cost of Living Comparison Between Akureyri and Bolungarvik

Meal at Budget Restaurant

$24.19 ISK 2,939

Three-Course Dinner for Two, Mid-Range

$128 ISK 15.5K

Fast Food Meal (McDonalds, etc)

$22.79 ISK 2,769

Cappuccino

$4.82 ISK 586

Coke/Pepsi/Fanta/Sprite (0.33 liter bottle)

$3.41 ISK 415

Water (0.33 liter bottle)

$3.09 ISK 375

Local Beer (0.5 liter draught)

$10.95 ISK 1,330

Imported Beer (0.33 liter bottle)

$9.53 ISK 1,158

Milk (1 liter)

$2.71 ISK 329

White Bread (500g)

$2.32 ISK 281

Rice (white) (1kg)

$3.14 ISK 381

Eggs

$7.92 ISK 962

Local Cheese (1kg)

$15.58 ISK 1,893

Chicken Fillets (1kg)

$24.12 ISK 2,930

Banana (1kg)

$2.95 ISK 359

Oranges (1kg)

$3.35 ISK 407

Tomato (1kg)

$6.04 ISK 734

Cigarettes 20 Pack (Marlboro, Camel)

$13.56 ISK 1,648

Gasoline (1 liter)

$2.49 ISK 302

Midsize Hatchback 1.4l (Volkswagen Golf, Toyota Prius, Honda Civic, etc)

$41.4K ISK 5.0M

Compact Sedan 1.6l (Toyota Corolla, Mazda3, Kia K4, Hyundai Elantra, etc)

$65.1K ISK 7.9M

Utilities for 2 People in 2-bedroom Apartment (Heating, Electricity, Gas, Water, Garbage) (85m2)

$121 ISK 14.7K

SIM Card Monthly Plan (Calls and 10GB+ Data)

$25.30 ISK 3,074

Internet (50+ Mbps, Unlimited Data)

$161 ISK 19.5K

Gym Membership (Monthly)

$86.1 ISK 10.5K

Cinema Ticket

$15.31 ISK 1,860

Preschool or Kindergarten, Full Day, Private, 1 Child (Monthly)

$363 ISK 44.1K

Jeans (Levis 501 Or Similar)

$81.0 ISK 9,843

Sport Shoes (Adidas, Nike)

$121 ISK 14.7K

1-bedroom Apartment, City Center (Monthly)

$1,802 ISK 218.9K

1-bedroom Apartment, Outside City Center (Monthly)

$1,781 ISK 216.3K

3-bedroom Apartment, Outside City Center (Monthly)

$2,111 ISK 256.5K

Buy Apartment in City Center (m2)

$6,385 ISK 775.8K

Buy Apartment Outside City Center (m2)

$6,523 ISK 792.6K

20-Year Fixed Mortgage Interest Rate (Annual %)

9.4

CityCost data is based on AI and user input – minor inaccuracies may occur.

Last update for Akureyri: August 16, 2026

Last update for Bolungarvik: August 18, 2026

City Median Internet Speeds Comparison (Updated April 2026)

The chart highlights the Precision Threshold for mobile and fixed broadband internet speeds, updated quarterly.

Digital Nomad Cost of Living Index

Akureyri vs Bolungarvik: Cost of Living - Frequently Asked Questions

Families tend to lean toward Bolungarvik – lower housing and cheaper childcare make a real difference, especially on a single income or when paying for private education.

Both have safer and rougher neighborhoods, but overall safety is comparable to other large cities. Neighborhood choice matters more than the city-level comparison – central, well-trafficked areas feel secure in both.

If budget matters most, go with Bolungarvik. If higher salaries, better infrastructure, or specific career opportunities are the priority, Akureyri makes more sense. Both are solid long-term options with distinct trade-offs.