Cost of Living Comparison Between Akureyri and Keflavik Cost of Living Comparison Between Akureyri and Keflavik

Monthly Cost of Living

A single person spends $2,862 per month in Akureyri vs $2,873 in Keflavik, rent included.

A couple spends around $3,910 per month in Akureyri vs $4,433 in Keflavik, rent included.

A family of three spends $4,958 per month in Akureyri vs $5,992 in Keflavik, rent included.

Akureyri and Keflavik have comparable living costs – the differences are in the details.

Both Akureyri and Keflavik sit above the global median – Akureyri by 114%, Keflavik by 115%.

Meal at Budget Restaurant

$23.68 ISK 2,900

$23.97 ISK 2,936

-1.21%

Three-Course Dinner for Two, Mid-Range

$127 ISK 15.6K

$147 ISK 18.0K

-13.65%

Fast Food Meal (McDonalds, etc)

$22.00 ISK 2,695

$19.75 ISK 2,419

11.39%

Cappuccino

$4.83 ISK 591

$4.11 ISK 504

17.52%

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

$3.43 ISK 420

$3.12 ISK 382

9.94%

Water (0.33 liter bottle)

$3.09 ISK 379

$2.50 ISK 307

23.60%

Local Beer (0.5 liter draught)

$10.76 ISK 1,318

$8.16 ISK 999

31.86%

Imported Beer (0.33 liter bottle)

$9.30 ISK 1,138

$8.16 ISK 999

13.97%

Milk (1 liter)

$2.79 ISK 341

$1.96 ISK 240

42.35%

White Bread (500g)

$2.25 ISK 276

$4.14 ISK 508

-45.65%

Rice (white) (1kg)

$3.07 ISK 375

$2.48 ISK 303

23.79%

Eggs

$8.25 ISK 1,011

$6.35 ISK 778

29.92%

Local Cheese (1kg)

$18.44 ISK 2,259

Chicken Fillets (1kg)

$24.53 ISK 3,004

$23.91 ISK 2,929

2.59%

Beef Round Steak (1kg)

$42.20 ISK 5,168

Apples (1kg)

$2.35 ISK 287

Banana (1kg)

$2.48 ISK 304

Oranges (1kg)

$2.43 ISK 298

Tomato (1kg)

$3.95 ISK 483

Potato (1kg)

$3.21 ISK 393

Onion (1kg)

$2.03 ISK 248

Lettuce (1 head)

$3.08 ISK 377

Water (1.5 liter bottle)

$1.94 ISK 238

Cigarettes 20 Pack (Marlboro, Camel)

$13.19 ISK 1,616

$13.45 ISK 1,647

-1.93%

Wine (Bottle)

$16.12 ISK 1,974

Local Beer (0.5 liter bottle)

$3.71 ISK 454

Imported Beer (0.33 liter bottle)

$2.80 ISK 343

One-way Ticket (Public Transport)

$3.52 ISK 432

Public Transport Monthly Pass (Regular Price)

$74.8 ISK 9,166

Taxi Start (Normal Tariff)

$6.24 ISK 765

Taxi (Normal Tariff) (1km)

$2.30 ISK 281

Taxi 1hour Waiting (Normal Tariff)

$85.2 ISK 10.4K

Gasoline (1 liter)

$2.54 ISK 311

$2.56 ISK 313

-0.78%

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

$52.6K ISK 6.4M

20.68%

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

$121 ISK 14.8K

$87.5 ISK 10.7K

38.22%

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

$25.36 ISK 3,106

$27.94 ISK 3,422

-9.23%

Internet (50+ Mbps, Unlimited Data)

$160 ISK 19.6K

$86.2 ISK 10.6K

85.75%

Gym Membership (Monthly)

$84.2 ISK 10.3K

Cinema Ticket

$14.88 ISK 1,823

$17.88 ISK 2,190

-16.78%

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

$357 ISK 43.8K

$319 ISK 39.1K

11.96%

International Primary School, 1 Child (Yearly)

$30.3K ISK 3.7M

Jeans (Levis 501 Or Similar)

$78.9 ISK 9,665

$137 ISK 16.7K

-42.18%

Summer Dress (H&M, Zara, etc)

$61.4 ISK 7,515

Sport Shoes (Adidas, Nike)

$122 ISK 15.0K

$179 ISK 21.9K

-31.52%

Men's Leather Business Shoes

$187 ISK 22.9K

1-bedroom Apartment, City Center (Monthly)

$1,792 ISK 219.5K

$1,826 ISK 223.6K

-1.88%

1-bedroom Apartment, Outside City Center (Monthly)

$1,803 ISK 220.8K

$1,331 ISK 163.1K

35.44%

3-bedroom Apartment, City Center (Monthly)

$2,481 ISK 303.9K

3-bedroom Apartment, Outside City Center (Monthly)

$2,126 ISK 260.4K

$2,009 ISK 246.0K

5.81%

Buy Apartment in City Center (m2)

$6,617 ISK 810.4K

Buy Apartment Outside City Center (m2)

$6,409 ISK 784.9K

Average Monthly Net Salary (After Tax)

$3,701 ISK 453.3K

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 Keflavik: April 26, 2026

Cost Breakdown

A central one-bedroom costs $1,792 in Akureyri versus $1,826 in Keflavik. 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 $127 in Akureyri versus $147 in Keflavik. Monthly groceries follow the same trend: $218 vs $560 – 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 Keflavik: Cost of Living - Frequently Asked Questions

For a comfortable life, plan on about $4,293 per month in Akureyri and $4,310 in Keflavik. 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. Housing is actually the single biggest factor behind the overall cost gap between these two cities.

A mid-range dinner for two costs $127 in Akureyri and $147 in Keflavik. That's a good indicator of the overall restaurant and café pricing gap between the two cities.

Kindergarten costs $357 per month in Akureyri and $319 in Keflavik. For families with young kids, this one expense can tip the scales when choosing between the two cities.

$2,500 is a stretch for both – monthly costs hit $2,862 in Akureyri and $2,873 in Keflavik. 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 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 Akureyri. If higher salaries, better infrastructure, or specific career opportunities are the priority, Keflavik makes more sense. Both are solid long-term options with distinct trade-offs.