Last update: Oct 2026

Cost of Living Comparison Between Akureyri and Cebu

For one person, living is cheaper in Cebu: $934 a month against $3,060 in Akureyri, rent and utilities included – about $25,500 less a year. Rent and utilities account for most of the difference.

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Cost of Living Index in Cebu
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Cebu Living Index

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Akureyri

🇮🇸 Iceland

$3,060

/mo nomad

Cebu

🇵🇭 Philippines

$934

/mo nomad

Monthly Cost of Living

How much you'll spend in Akureyri and in Cebu

Real prices from locals and on-the-ground checks – rent, groceries, transit and the daily extras. Here's what a month in Akureyri and in Cebu actually costs, broken down by who's living it.

A single person spends $3,060 per month in Akureyri vs $934 in Cebu, rent included.

Akureyri $3,060
Cebu $934

A couple spends around $4,123 per month in Akureyri vs $1,415 in Cebu, rent included.

Akureyri $4,123
Cebu $1,415

A family of three spends $5,186 per month in Akureyri vs $1,896 in Cebu, rent included.

Akureyri $5,186
Cebu $1,896

Akureyri costs about 228% more than Cebu, and outside of rent the biggest gap is in eating out.

Akureyri sits 128% above the global median, while Cebu is 30% below – they fall on opposite sides of the world average.

Meal at Budget Restaurant

$24.64 ISK 3,004

$3.03 ₱190

713.20%

Three-Course Dinner for Two, Mid-Range

$133 ISK 16.2K

$23.48 ₱1,473

466.65%

Fast Food Meal (McDonalds, etc)

$22.95 ISK 2,799

$4.09 ₱256

461.12%

Cappuccino

$4.93 ISK 602

$2.52 ₱158

95.63%

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

$3.44 ISK 420

$1.54 ₱96.9

123.38%

Water (0.33 liter bottle)

$3.12 ISK 381

$0.49 ₱30.98

536.73%

Local Beer (0.5 liter draught)

$11.08 ISK 1,352

$1.79 ₱112

518.99%

Imported Beer (0.33 liter bottle)

$9.43 ISK 1,150

$2.26 ₱142

317.26%

Milk (1 liter)

$2.77 ISK 338

$1.95 ₱122

42.05%

White Bread (500g)

$2.30 ISK 280

$1.43 ₱89.7

60.84%

Rice (white) (1kg)

$3.18 ISK 388

$1.02 ₱63.8

211.76%

Eggs

$7.93 ISK 967

$2.06 ₱129

284.95%

Local Cheese (1kg)

$15.52 ISK 1,892

$9.81 ₱615

58.21%

Chicken Fillets (1kg)

$24.79 ISK 3,024

$4.61 ₱289

437.74%

Beef Round Steak (1kg)

$7.70 ₱483

Apples (1kg)

$3.31 ₱207

Banana (1kg)

$2.91 ISK 355

$1.45 ₱90.9

100.69%

Oranges (1kg)

$3.49 ISK 426

$2.36 ₱148

47.88%

Tomato (1kg)

$5.89 ISK 719

$1.54 ₱96.4

282.47%

Potato (1kg)

$2.36 ₱148

Onion (1kg)

$1.99 ₱125

Lettuce (1 head)

$1.15 ₱72.1

Water (1.5 liter bottle)

$0.67 ₱42.15

Cigarettes 20 Pack (Marlboro, Camel)

$13.61 ISK 1,660

$3.00 ₱188

353.67%

Wine (Bottle)

$6.35 ₱398

Local Beer (0.5 liter bottle)

$1.31 ₱81.9

Imported Beer (0.33 liter bottle)

$1.73 ₱108

One-way Ticket (Public Transport)

$0.25 ₱15.78

Public Transport Monthly Pass (Regular Price)

$12.65 ₱793

Taxi Start (Normal Tariff)

$0.74 ₱46.32

Taxi (Normal Tariff) (1km)

$0.21 ₱13.11

Taxi 1hour Waiting (Normal Tariff)

$4.33 ₱271

Gasoline (1 liter)

$2.52 ISK 307

$1.33 ₱83.5

89.47%

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

$41.1K ISK 5.0M

$21.8K ₱1.4M

88.95%

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

$66.4K ISK 8.1M

$19.4K ₱1.2M

242.49%

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

$124 ISK 15.1K

$121 ₱7,563

2.65%

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

$26.03 ISK 3,174

$14.45 ₱907

80.14%

Internet (50+ Mbps, Unlimited Data)

$162 ISK 19.7K

$28.29 ₱1,774

471.79%

Gym Membership (Monthly)

$86.8 ISK 10.6K

$32.68 ₱2,050

165.45%

Tennis Court (1 Hour on Weekend)

$6.39 ₱401

Cinema Ticket

$15.18 ISK 1,852

$5.46 ₱342

178.02%

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

$364 ISK 44.3K

$273 ₱17.1K

32.98%

International Primary School, 1 Child (Yearly)

$8,156 ₱511.5K

Jeans (Levis 501 Or Similar)

$82.6 ISK 10.1K

$49.57 ₱3,109

66.67%

Summer Dress (H&M, Zara, etc)

$24.87 ₱1,560

Sport Shoes (Adidas, Nike)

$123 ISK 15.0K

$76.6 ₱4,804

60.78%

Men's Leather Business Shoes

$59.3 ₱3,717

1-bedroom Apartment, City Center (Monthly)

$1,800 ISK 219.5K

$506 ₱31.7K

255.92%

1-bedroom Apartment, Outside City Center (Monthly)

$1,787 ISK 217.9K

$309 ₱19.4K

477.40%

3-bedroom Apartment, City Center (Monthly)

$1,052 ₱66.0K

3-bedroom Apartment, Outside City Center (Monthly)

$2,153 ISK 262.6K

$619 ₱38.8K

247.86%

Buy Apartment in City Center (m2)

$6,605 ISK 805.5K

$2,915 ₱182.9K

126.56%

Buy Apartment Outside City Center (m2)

$6,467 ISK 788.7K

$1,867 ₱117.1K

246.38%

Average Monthly Net Salary (After Tax)

$341 ₱21.4K

20-Year Fixed Mortgage Interest Rate (Annual %)

9.4

7.2

30.56%

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

Last update for Akureyri: October 4, 2026

Last update for Cebu: October 5, 2026

Monthly budget structure

Share of the monthly basket for one person, rent included.

Accommodation & Living

Akureyri

–

Cebu

$309 33.5%

Groceries & Markets

Akureyri

–

Cebu

$210 22.7%

Monthly Utilities & Internet

Akureyri

–

Cebu

$163 17.7%

Clothing & Footwear

Akureyri

–

Cebu

$95 10.2%

Eating Out

Akureyri

–

Cebu

$88 9.6%

Sport & Entertainment

Akureyri

–

Cebu

$44 4.7%

Getting Around

Akureyri

–

Cebu

$15 1.7%

Cost Breakdown

A central one-bedroom costs $1,800 in Akureyri versus $506 in Cebu. Rent is usually the largest line item in a monthly budget, so the gap here sets the tone for the overall comparison.

A mid-range dinner for two costs $133 in Akureyri versus $23.00 in Cebu. Monthly groceries follow the same trend: $327 vs $210 – making Cebu the more affordable choice for daily food spending.

Good to know

🇮🇸 Akureyri

🇵🇭 Cebu

🕒 Local time

11:16 11:16 AM

19:16 7:16 PM

8 h ahead of Akureyri

🌤 Weather

👥 Population

19,219

964,169

💱 Currency

Icelandic Króna ISK kr

Philippine Peso PHP ₱

📈 Exchange rate

1,000 ISK = 8.2 USD

1,000 ISK = 7.32 EUR

100 PHP = 1.59 USD

100 PHP = 1.42 EUR

Exchange rates and currency converter

PHP, USD, EUR to ISK – Icelandic Króna Converter

🇺🇸 United States Dollar ($)

🇮🇸 Icelandic Króna (kr)

Icelandic Króna exchange rates as of October 10, 2026: 1 USD = 122 ISK (1,000 ISK = 8.2 USD). 1 EUR = 137 ISK (1,000 ISK = 7.32 EUR).

Philippine Peso exchange rates as of October 10, 2026: 1 USD = 62.72 PHP (100 PHP = 1.59 USD). 1 EUR = 70.28 PHP (100 PHP = 1.42 EUR).

USD to ISK in detail →

On the map

Lowest

Highest

Between locations

Akureyri Cebu 11,010 km ≈ 14 h nonstop flight

From you

Akureyri
Cebu

Distances are measured in a straight line. Your location is detected approximately.

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 Cebu: Cost of Living - Frequently Asked Questions

Yes – Akureyri is pricier by about 228%, and outside of rent the gap shows up most in eating out.

For a comfortable life, plan on about $4,590 per month in Akureyri and $1,401 in Cebu. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Rent is clearly cheaper in Cebu, especially for central apartments. Housing is actually the single biggest factor behind the overall cost gap between these two cities.

A mid-range dinner for two costs $133 in Akureyri and $23.00 in Cebu. That's a good indicator of the overall restaurant and café pricing gap between the two cities.

Groceries cost about 55% more in Akureyri, though it depends on what you buy. Local produce may be comparable; imported and premium items show the biggest price gap.

A $1,500 monthly budget goes further in Cebu, where all-in costs run around $934, than in Akureyri at $3,060. In Cebu it covers expenses comfortably, while in Akureyri it requires careful planning or may not stretch far enough.

Families tend to lean toward Cebu – 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 Cebu. 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.