Last update: Oct 2026

Cost of Living Comparison Between Akureyri and Hafnarfjordur

For one person, living is cheaper in Akureyri: $3,106 a month against $3,853 in Hafnarfjordur, rent and utilities included – about $9,000 less a year. Other living expenses account for most of the difference.

184

Cost of Living Index in Hafnarfjordur
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Hafnarfjordur Living Index

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Akureyri

🇮🇸 Iceland

$3,106

/mo nomad

Hafnarfjordur

🇮🇸 Iceland

$3,853

/mo nomad

Monthly Cost of Living

How much you'll spend in Akureyri and in Hafnarfjordur

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

A single person spends $3,106 per month in Akureyri vs $3,853 in Hafnarfjordur, rent included.

Akureyri $3,106
Hafnarfjordur $3,853

A couple spends around $4,176 per month in Akureyri vs $5,410 in Hafnarfjordur, rent included.

Akureyri $4,176
Hafnarfjordur $5,410

A family of three spends $5,246 per month in Akureyri vs $6,967 in Hafnarfjordur, rent included.

Akureyri $5,246
Hafnarfjordur $6,967

Akureyri is about 19% cheaper than Hafnarfjordur, and outside of rent the biggest gap is in groceries.

Both Akureyri and Hafnarfjordur sit above the global median – Akureyri by 128%, Hafnarfjordur by 183%.

Meal at Budget Restaurant

$24.94 ISK 3,028

$31.04 ISK 3,768

-19.65%

Three-Course Dinner for Two, Mid-Range

$129 ISK 15.6K

$125 ISK 15.1K

3.29%

Fast Food Meal (McDonalds, etc)

$22.63 ISK 2,748

$16.40 ISK 1,991

37.99%

Cappuccino

$5.04 ISK 611

$6.71 ISK 814

-24.89%

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

$3.35 ISK 406

$3.33 ISK 405

0.60%

Water (0.33 liter bottle)

$2.99 ISK 363

$3.14 ISK 382

-4.78%

Local Beer (0.5 liter draught)

$11.22 ISK 1,362

$14.02 ISK 1,703

-19.97%

Imported Beer (0.33 liter bottle)

$9.62 ISK 1,168

$12.11 ISK 1,470

-20.56%

Milk (1 liter)

$2.77 ISK 337

$1.67 ISK 203

65.87%

White Bread (500g)

$2.32 ISK 282

$4.21 ISK 511

-44.89%

Rice (white) (1kg)

$3.14 ISK 382

$3.71 ISK 450

-15.36%

Eggs

$7.65 ISK 928

$7.26 ISK 881

5.37%

Local Cheese (1kg)

$15.85 ISK 1,925

$21.51 ISK 2,611

-26.31%

Chicken Fillets (1kg)

$24.82 ISK 3,013

$24.40 ISK 2,962

1.72%

Beef Round Steak (1kg)

$41.76 ISK 5,070

Apples (1kg)

$3.24 ISK 394

Banana (1kg)

$2.92 ISK 354

$2.48 ISK 301

17.74%

Oranges (1kg)

$3.45 ISK 419

$3.19 ISK 388

8.15%

Tomato (1kg)

$6.08 ISK 738

$6.41 ISK 779

-5.15%

Potato (1kg)

$3.93 ISK 477

Onion (1kg)

$1.64 ISK 200

Lettuce (1 head)

$3.69 ISK 448

Water (1.5 liter bottle)

$1.82 ISK 221

Cigarettes 20 Pack (Marlboro, Camel)

$13.71 ISK 1,664

$14.04 ISK 1,705

-2.35%

Wine (Bottle)

$24.05 ISK 2,920

Local Beer (0.5 liter bottle)

$3.53 ISK 428

Imported Beer (0.33 liter bottle)

$3.38 ISK 411

One-way Ticket (Public Transport)

$5.10 ISK 620

Public Transport Monthly Pass (Regular Price)

$85.0 ISK 10.3K

Taxi Start (Normal Tariff)

$6.92 ISK 840

Taxi (Normal Tariff) (1km)

$2.84 ISK 345

Taxi 1hour Waiting (Normal Tariff)

$80.8 ISK 9,811

Gasoline (1 liter)

$2.59 ISK 314

$2.00 ISK 243

29.50%

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

$41.3K ISK 5.0M

$68.7K ISK 8.3M

-39.95%

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

$65.2K ISK 7.9M

$55.8K ISK 6.8M

16.91%

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

$121 ISK 14.7K

$69.4 ISK 8,419

74.19%

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

$25.21 ISK 3,061

$32.65 ISK 3,964

-22.79%

Internet (50+ Mbps, Unlimited Data)

$165 ISK 20.0K

$85.0 ISK 10.3K

93.68%

Gym Membership (Monthly)

$84.3 ISK 10.2K

$65.1 ISK 7,900

29.52%

Cinema Ticket

$15.53 ISK 1,885

$17.08 ISK 2,073

-9.07%

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

$367 ISK 44.6K

$1,172 ISK 142.3K

-68.68%

International Primary School, 1 Child (Yearly)

$25.9K ISK 3.1M

Jeans (Levis 501 Or Similar)

$80.8 ISK 9,810

$125 ISK 15.1K

-35.21%

Summer Dress (H&M, Zara, etc)

$67.1 ISK 8,150

Sport Shoes (Adidas, Nike)

$122 ISK 14.8K

$124 ISK 15.1K

-1.87%

Men's Leather Business Shoes

$246 ISK 29.9K

1-bedroom Apartment, City Center (Monthly)

$1,835 ISK 222.7K

$2,496 ISK 303.1K

-26.51%

1-bedroom Apartment, Outside City Center (Monthly)

$1,833 ISK 222.5K

$2,075 ISK 251.8K

-11.66%

3-bedroom Apartment, City Center (Monthly)

$3,232 ISK 392.3K

3-bedroom Apartment, Outside City Center (Monthly)

$2,186 ISK 265.4K

$2,670 ISK 324.2K

-18.13%

Buy Apartment in City Center (m2)

$6,596 ISK 800.8K

$7,011 ISK 851.1K

-5.91%

Buy Apartment Outside City Center (m2)

$6,483 ISK 787.1K

$7,014 ISK 851.6K

-7.57%

Average Monthly Net Salary (After Tax)

$4,674 ISK 567.4K

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 25, 2026

Last update for Hafnarfjordur: October 24, 2026

Monthly budget structure

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

Accommodation & Living

Akureyri

–

Hafnarfjordur

$2.1K 53.8%

Groceries & Markets

Akureyri

–

Hafnarfjordur

$615 16%

Eating Out

Akureyri

–

Hafnarfjordur

$498 12.9%

Clothing & Footwear

Akureyri

–

Hafnarfjordur

$253 6.6%

Monthly Utilities & Internet

Akureyri

–

Hafnarfjordur

$187 4.9%

Getting Around

Akureyri

–

Hafnarfjordur

$127 3.3%

Sport & Entertainment

Akureyri

–

Hafnarfjordur

$99 2.6%

Cost Breakdown

A central one-bedroom costs $1,835 in Akureyri versus $2,496 in Hafnarfjordur. 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 $129 in Akureyri versus $125 in Hafnarfjordur. Groceries tell a different story – $327 in Akureyri vs $615 in Hafnarfjordur – so Akureyri wins on supermarket bills even if dining out costs more.

Good to know

🇮🇸 Akureyri

🇮🇸 Hafnarfjordur

🕒 Local time

05:33 5:33 AM

Same time as Akureyri

🌤 Weather

👥 Population

19,219

31,525

💱 Currency

Icelandic Króna ISK kr

📈 Exchange rate

1,000 ISK = 8.24 USD

1,000 ISK = 7.38 EUR

1,000 ISK = 8.24 USD

1,000 ISK = 7.38 EUR

Exchange rates and currency converter

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Akureyri Hafnarfjordur 260 km

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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 Hafnarfjordur: Cost of Living - Frequently Asked Questions

Yes – Hafnarfjordur is pricier by about 24%, and outside of rent the gap shows up most in groceries.

For a comfortable life, plan on about $4,659 per month in Akureyri and $5,780 in Hafnarfjordur. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Rent is clearly cheaper in Akureyri, especially for central apartments: a one-bedroom in the center costs $1,835 there versus $2,496 in Hafnarfjordur.

A mid-range dinner for two costs $129 in Akureyri and $125 in Hafnarfjordur. That’s a good indicator of the overall restaurant and café pricing gap between the two cities.

Groceries cost about 88% more in Hafnarfjordur, though the gap depends on what you buy.

$2,500 is a stretch for both – monthly costs hit $3,106 in Akureyri and $3,853 in Hafnarfjordur. You’ll need shared housing and careful budgeting no matter which city you pick.

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

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