Cost of Living Comparison Between Akureyri and Drangsnes Cost of Living Comparison Between Akureyri and Drangsnes

Monthly Cost of Living

A single person spends $2,862 per month in Akureyri vs $1,583 in Drangsnes, rent included.

A couple spends around $3,910 per month in Akureyri vs $2,763 in Drangsnes, rent included.

A family of three spends $4,958 per month in Akureyri vs $3,943 in Drangsnes, rent included.

Akureyri costs about 81% more than Drangsnes, driven mainly by Groceries & Markets.

Both Akureyri and Drangsnes sit above the global median – Akureyri by 114%, Drangsnes by 18%.

Meal at Budget Restaurant

$23.68 ISK 2,899

$26.38 ISK 3,230

-10.24%

Three-Course Dinner for Two, Mid-Range

$127 ISK 15.6K

$143 ISK 17.6K

-11.49%

Fast Food Meal (McDonalds, etc)

$22.00 ISK 2,694

$22.74 ISK 2,785

-3.25%

Cappuccino

$4.83 ISK 591

$6.21 ISK 761

-22.22%

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

$3.43 ISK 420

$3.36 ISK 411

2.08%

Water (0.33 liter bottle)

$3.09 ISK 379

$2.64 ISK 324

17.05%

Local Beer (0.5 liter draught)

$10.76 ISK 1,317

$12.89 ISK 1,578

-16.52%

Imported Beer (0.33 liter bottle)

$9.30 ISK 1,138

$11.15 ISK 1,366

-16.59%

Milk (1 liter)

$2.79 ISK 341

$1.92 ISK 236

45.31%

White Bread (500g)

$2.25 ISK 276

$4.21 ISK 516

-46.56%

Rice (white) (1kg)

$3.07 ISK 375

$3.55 ISK 435

-13.52%

Eggs

$8.25 ISK 1,010

$6.19 ISK 758

33.28%

Local Cheese (1kg)

$18.04 ISK 2,209

Chicken Fillets (1kg)

$24.53 ISK 3,004

$24.15 ISK 2,957

1.57%

Beef Round Steak (1kg)

$42.81 ISK 5,242

Apples (1kg)

$3.22 ISK 394

Banana (1kg)

$2.41 ISK 295

Oranges (1kg)

$3.11 ISK 380

Tomato (1kg)

$5.04 ISK 617

Potato (1kg)

$3.59 ISK 440

Onion (1kg)

$2.32 ISK 284

Lettuce (1 head)

$3.13 ISK 384

Water (1.5 liter bottle)

$1.94 ISK 237

Cigarettes 20 Pack (Marlboro, Camel)

$13.19 ISK 1,615

$13.63 ISK 1,669

-3.23%

Wine (Bottle)

$22.76 ISK 2,787

Local Beer (0.5 liter bottle)

$3.58 ISK 438

Imported Beer (0.33 liter bottle)

$3.22 ISK 394

Taxi Start (Normal Tariff)

$6.42 ISK 786

Taxi (Normal Tariff) (1km)

$2.51 ISK 308

Taxi 1hour Waiting (Normal Tariff)

$85.4 ISK 10.5K

Gasoline (1 liter)

$2.54 ISK 311

$2.48 ISK 304

2.42%

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

$39.8K ISK 4.9M

$47.2K ISK 5.8M

-15.69%

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

$63.4K ISK 7.8M

$52.2K ISK 6.4M

21.55%

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

$121 ISK 14.8K

$88.2 ISK 10.8K

37.20%

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

$25.36 ISK 3,105

$27.68 ISK 3,390

-8.38%

Internet (50+ Mbps, Unlimited Data)

$160 ISK 19.6K

$84.6 ISK 10.4K

89.20%

Gym Membership (Monthly)

$84.2 ISK 10.3K

Cinema Ticket

$14.88 ISK 1,822

$17.39 ISK 2,129

-14.43%

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

$357 ISK 43.8K

$319 ISK 39.1K

12.06%

International Primary School, 1 Child (Yearly)

$30.4K ISK 3.7M

Jeans (Levis 501 Or Similar)

$78.9 ISK 9,663

$137 ISK 16.8K

-42.40%

Summer Dress (H&M, Zara, etc)

$62.4 ISK 7,642

Sport Shoes (Adidas, Nike)

$122 ISK 15.0K

$183 ISK 22.4K

-33.27%

Men's Leather Business Shoes

$268 ISK 32.9K

1-bedroom Apartment, City Center (Monthly)

$1,792 ISK 219.4K

1-bedroom Apartment, Outside City Center (Monthly)

$1,803 ISK 220.8K

3-bedroom Apartment, Outside City Center (Monthly)

$2,126 ISK 260.3K

Buy Apartment in City Center (m2)

$6,617 ISK 810.2K

Buy Apartment Outside City Center (m2)

$6,409 ISK 784.7K

Average Monthly Net Salary (After Tax)

$6,054 ISK 741.2K

20-Year Fixed Mortgage Interest Rate (Annual %)

9.4

9.63

-2.39%

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

Last update for Akureyri: April 28, 2026

Last update for Drangsnes: April 26, 2026

Cost Breakdown

A mid-range dinner for two costs $127 in Akureyri versus $143 in Drangsnes. Monthly groceries follow the same trend: $218 vs $593 – making Akureyri the more affordable choice for daily food spending.

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 Drangsnes: Cost of Living - Frequently Asked Questions

Yes – Akureyri is pricier by about 81%, and the gap shows up most in Groceries & Markets. It's not just housing either; the difference applies across most spending categories.

For a comfortable life, plan on about $4,293 per month in Akureyri and $2,375 in Drangsnes. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

A mid-range dinner for two costs $127 in Akureyri and $143 in Drangsnes. That's a good indicator of the overall restaurant and café pricing gap between the two cities.

Interestingly, groceries are about 172% cheaper in Akureyri – one category where the pricier city actually offers better value, probably thanks to stronger retail competition or local farming.

A $1,000 monthly budget goes further in Drangsnes, where all-in costs run around $1,583, than in Akureyri at $2,862. In Drangsnes it covers expenses comfortably, while in Akureyri it requires careful planning or may not stretch far enough.

Families tend to lean toward Drangsnes – 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 Drangsnes. 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.