Last update: Oct 2026

Cost of Living Comparison Between Akureyri and Drangsnes

For one person, living is cheaper in Drangsnes: $1,726 a month against $3,106 in Akureyri, rent and utilities included – about $16,600 less a year. Higher rent and utilities in Akureyri outweigh lower spending on other living expenses.

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Cost of Living Index in Drangsnes
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Drangsnes Living Index

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Akureyri

🇮🇸 Iceland

$3,106

/mo nomad

Drangsnes

🇮🇸 Iceland

$1,726

/mo nomad

Monthly Cost of Living

How much you'll spend in Akureyri and in Drangsnes

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 Drangsnes actually costs, broken down by who's living it.

A single person spends $3,106 per month in Akureyri vs $1,726 in Drangsnes, rent included.

Akureyri $3,106
Drangsnes $1,726

A couple spends around $4,170 per month in Akureyri vs $2,935 in Drangsnes, rent included.

Akureyri $4,170
Drangsnes $2,935

A family of three spends $5,234 per month in Akureyri vs $4,144 in Drangsnes, rent included.

Akureyri $5,234
Drangsnes $4,144

Akureyri costs about 80% more than Drangsnes, and outside of rent the biggest gap is in leisure.

Both Akureyri and Drangsnes sit above the global median – Akureyri by 130%, Drangsnes by 28%.

Meal at Budget Restaurant

$24.19 ISK 2,937

$31.74 ISK 3,853

-23.79%

Three-Course Dinner for Two, Mid-Range

$131 ISK 15.9K

$122 ISK 14.9K

7.10%

Fast Food Meal (McDonalds, etc)

$22.90 ISK 2,780

$26.90 ISK 3,266

-14.87%

Cappuccino

$4.90 ISK 595

$6.91 ISK 839

-29.09%

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

$3.50 ISK 425

$3.41 ISK 414

2.64%

Water (0.33 liter bottle)

$3.12 ISK 379

$3.15 ISK 383

-0.95%

Local Beer (0.5 liter draught)

$11.08 ISK 1,346

$14.01 ISK 1,700

-20.91%

Imported Beer (0.33 liter bottle)

$9.18 ISK 1,114

$12.12 ISK 1,471

-24.26%

Milk (1 liter)

$2.76 ISK 335

$2.12 ISK 257

30.19%

White Bread (500g)

$2.40 ISK 291

$4.23 ISK 514

-43.26%

Rice (white) (1kg)

$3.05 ISK 370

$3.65 ISK 444

-16.44%

Eggs

$7.90 ISK 959

$6.96 ISK 845

13.51%

Local Cheese (1kg)

$15.82 ISK 1,921

$21.86 ISK 2,654

-27.63%

Chicken Fillets (1kg)

$24.51 ISK 2,975

$24.27 ISK 2,946

0.99%

Beef Round Steak (1kg)

$42.46 ISK 5,155

Apples (1kg)

$3.28 ISK 398

Banana (1kg)

$2.93 ISK 355

$2.84 ISK 344

3.17%

Oranges (1kg)

$3.50 ISK 425

$3.17 ISK 385

10.41%

Tomato (1kg)

$5.94 ISK 721

$6.60 ISK 801

-10.00%

Potato (1kg)

$3.94 ISK 478

Onion (1kg)

$1.70 ISK 207

Lettuce (1 head)

$3.66 ISK 444

Water (1.5 liter bottle)

$1.74 ISK 212

Cigarettes 20 Pack (Marlboro, Camel)

$13.66 ISK 1,658

$13.77 ISK 1,671

-0.80%

Wine (Bottle)

$23.74 ISK 2,882

Local Beer (0.5 liter bottle)

$3.67 ISK 445

Imported Beer (0.33 liter bottle)

$3.49 ISK 424

Taxi Start (Normal Tariff)

$6.64 ISK 806

Taxi (Normal Tariff) (1km)

$2.79 ISK 339

Taxi 1hour Waiting (Normal Tariff)

$80.7 ISK 9,791

Gasoline (1 liter)

$2.53 ISK 307

$2.11 ISK 256

19.91%

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

$41.2K ISK 5.0M

$69.7K ISK 8.5M

-40.88%

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

$65.9K ISK 8.0M

$55.5K ISK 6.7M

18.80%

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

$125 ISK 15.2K

$95.5 ISK 11.6K

31.20%

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

$25.95 ISK 3,150

$33.11 ISK 4,019

-21.62%

Internet (50+ Mbps, Unlimited Data)

$164 ISK 19.9K

$87.1 ISK 10.6K

88.24%

Gym Membership (Monthly)

$85.2 ISK 10.3K

Cinema Ticket

$15.66 ISK 1,902

$19.31 ISK 2,345

-18.90%

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

$372 ISK 45.2K

$1,168 ISK 141.9K

-68.15%

International Primary School, 1 Child (Yearly)

$26.3K ISK 3.2M

Jeans (Levis 501 Or Similar)

$82.2 ISK 9,978

$152 ISK 18.5K

-45.97%

Summer Dress (H&M, Zara, etc)

$65.6 ISK 7,965

Sport Shoes (Adidas, Nike)

$122 ISK 14.8K

$179 ISK 21.7K

-31.89%

Men's Leather Business Shoes

$248 ISK 30.1K

1-bedroom Apartment, City Center (Monthly)

$1,807 ISK 219.4K

1-bedroom Apartment, Outside City Center (Monthly)

$1,834 ISK 222.7K

3-bedroom Apartment, Outside City Center (Monthly)

$2,171 ISK 263.6K

Buy Apartment in City Center (m2)

$6,673 ISK 810.1K

Buy Apartment Outside City Center (m2)

$6,448 ISK 782.8K

Average Monthly Net Salary (After Tax)

$6,094 ISK 739.8K

20-Year Fixed Mortgage Interest Rate (Annual %)

9.4

8.81

6.70%

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

Last update for Akureyri: October 31, 2026

Last update for Drangsnes: November 3, 2026

Monthly budget structure

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

Groceries & Markets

Akureyri

–

Drangsnes

$623 36.1%

Eating Out

Akureyri

–

Drangsnes

$538 31.2%

Clothing & Footwear

Akureyri

–

Drangsnes

$290 16.8%

Monthly Utilities & Internet

Akureyri

–

Drangsnes

$216 12.5%

Sport & Entertainment

Akureyri

–

Drangsnes

$39 * 2.2%

Getting Around

Akureyri

–

Drangsnes

$21 * 1.2%

Accommodation & Living

Akureyri

–

Drangsnes

- * 0%

Categories marked with * are only partly priced – their share counts the items that do have prices.

Cost Breakdown

A mid-range dinner for two costs $131 in Akureyri versus $122 in Drangsnes. Groceries tell a different story – $327 in Akureyri vs $623 in Drangsnes – so Akureyri wins on supermarket bills even if dining out costs more.

Good to know

🇮🇸 Akureyri

🇮🇸 Drangsnes

🕒 Local time

04:29 4:29 AM

Same time as Akureyri

🌤 Weather

👥 Population

19,219

100

💱 Currency

Icelandic Króna ISK kr

📈 Exchange rate

1,000 ISK = 8.24 USD

1,000 ISK = 7.37 EUR

1,000 ISK = 8.24 USD

1,000 ISK = 7.37 EUR

Exchange rates and currency converter

On the map

Lowest

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Between locations

Akureyri Drangsnes 150 km

From you

Akureyri
Drangsnes

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 Drangsnes: Cost of Living - Frequently Asked Questions

Yes – Akureyri is pricier by about 80%, and outside of rent the gap shows up most in leisure.

For a comfortable life, plan on about $4,658 per month in Akureyri and $2,589 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 $131 in Akureyri and $122 in Drangsnes. That’s a good indicator of the overall restaurant and café pricing gap between the two cities.

Interestingly, groceries are about 48% cheaper in Akureyri – one category where the pricier city actually offers better value.

A $2,000 monthly budget goes further in Drangsnes, where all-in costs run around $1,726, than in Akureyri at $3,106. In Drangsnes it covers expenses comfortably, while in Akureyri it requires careful planning or may not stretch far enough.

It depends on your priorities. Akureyri has an edge in some lifestyle areas, with costs from $1,726 in Drangsnes to $3,106 in Akureyri. Climate, culture, job market, and personal taste all factor in.

Both cities have a reputation for safety. In either place, the choice of neighborhood matters more than the choice between the two cities.