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

Monthly Cost of Living

A single person spends $2,916 per month in Akureyri vs $2,853 in Keflavik, rent included.

A couple spends around $3,931 per month in Akureyri vs $4,401 in Keflavik, rent included.

A family of three spends $4,946 per month in Akureyri vs $5,949 in Keflavik, rent included.

Akureyri costs about 2% more than Keflavik, driven mainly by Groceries & Markets.

Both Akureyri and Keflavik sit above the global median – Akureyri by 119%, Keflavik by 114%.

Meal at Budget Restaurant

$23.95 ISK 2,961

$23.97 ISK 2,962

-0.08%

Three-Course Dinner for Two, Mid-Range

$130 ISK 16.0K

$143 ISK 17.7K

-9.31%

Fast Food Meal (McDonalds, etc)

$21.94 ISK 2,711

$20.29 ISK 2,508

8.13%

Cappuccino

$4.86 ISK 601

$3.95 ISK 488

23.04%

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

$3.30 ISK 408

$3.18 ISK 393

3.77%

Water (0.33 liter bottle)

$2.94 ISK 363

$2.52 ISK 312

16.67%

Local Beer (0.5 liter draught)

$10.68 ISK 1,320

$7.95 ISK 983

34.34%

Imported Beer (0.33 liter bottle)

$9.31 ISK 1,150

$8.18 ISK 1,011

13.81%

Milk (1 liter)

$2.76 ISK 341

$1.87 ISK 231

47.59%

White Bread (500g)

$2.37 ISK 293

$4.18 ISK 517

-43.30%

Rice (white) (1kg)

$3.13 ISK 387

$2.37 ISK 293

32.07%

Eggs

$7.80 ISK 964

$6.43 ISK 795

21.31%

Local Cheese (1kg)

$18.22 ISK 2,252

Chicken Fillets (1kg)

$23.90 ISK 2,954

$24.11 ISK 2,980

-0.87%

Beef Round Steak (1kg)

$42.82 ISK 5,292

Apples (1kg)

$2.35 ISK 291

Banana (1kg)

$2.44 ISK 302

Oranges (1kg)

$2.36 ISK 291

Tomato (1kg)

$4.00 ISK 494

Potato (1kg)

$3.06 ISK 378

Onion (1kg)

$2.01 ISK 249

Lettuce (1 head)

$3.17 ISK 392

Water (1.5 liter bottle)

$1.93 ISK 239

Cigarettes 20 Pack (Marlboro, Camel)

$13.24 ISK 1,637

$13.80 ISK 1,706

-4.06%

Wine (Bottle)

$15.90 ISK 1,965

Local Beer (0.5 liter bottle)

$3.74 ISK 462

Imported Beer (0.33 liter bottle)

$2.82 ISK 349

One-way Ticket (Public Transport)

$3.67 ISK 454

Public Transport Monthly Pass (Regular Price)

$74.3 ISK 9,183

Taxi Start (Normal Tariff)

$6.37 ISK 787

Taxi (Normal Tariff) (1km)

$2.26 ISK 279

Taxi 1hour Waiting (Normal Tariff)

$86.4 ISK 10.7K

Gasoline (1 liter)

$2.54 ISK 314

$2.43 ISK 300

4.53%

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

$40.7K ISK 5.0M

$47.5K ISK 5.9M

-14.41%

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

$64.5K ISK 8.0M

$52.0K ISK 6.4M

24.07%

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

$121 ISK 15.0K

$86.6 ISK 10.7K

39.82%

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

$25.49 ISK 3,151

$27.84 ISK 3,441

-8.44%

Internet (50+ Mbps, Unlimited Data)

$159 ISK 19.7K

$86.2 ISK 10.7K

85.00%

Gym Membership (Monthly)

$82.4 ISK 10.2K

Cinema Ticket

$14.79 ISK 1,828

$17.61 ISK 2,177

-16.01%

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

$361 ISK 44.7K

$318 ISK 39.3K

13.61%

International Primary School, 1 Child (Yearly)

$29.7K ISK 3.7M

Jeans (Levis 501 Or Similar)

$79.9 ISK 9,872

$141 ISK 17.4K

-43.40%

Summer Dress (H&M, Zara, etc)

$62.8 ISK 7,766

Sport Shoes (Adidas, Nike)

$119 ISK 14.7K

$180 ISK 22.3K

-33.78%

Men's Leather Business Shoes

$188 ISK 23.2K

1-bedroom Apartment, City Center (Monthly)

$1,762 ISK 217.8K

$1,829 ISK 226.0K

-3.63%

1-bedroom Apartment, Outside City Center (Monthly)

$1,790 ISK 221.2K

$1,350 ISK 166.8K

32.60%

3-bedroom Apartment, City Center (Monthly)

$2,442 ISK 301.8K

3-bedroom Apartment, Outside City Center (Monthly)

$2,143 ISK 264.8K

$2,007 ISK 248.1K

6.76%

Buy Apartment in City Center (m2)

$6,491 ISK 802.3K

Buy Apartment Outside City Center (m2)

$6,302 ISK 778.9K

Average Monthly Net Salary (After Tax)

$3,712 ISK 458.9K

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: July 27, 2026

Last update for Keflavik: July 26, 2026

Cost Breakdown

A central one-bedroom costs $1,762 in Akureyri versus $1,829 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 $130 in Akureyri versus $143 in Keflavik. Monthly groceries follow the same trend: $214 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

Yes – Akureyri is pricier by about 2%, 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 $4,375 per month in Akureyri and $4,279 in Keflavik. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Rent is clearly cheaper in Keflavik, 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 $130 in Akureyri and $143 in Keflavik. That's a good indicator of the overall restaurant and café pricing gap between the two cities.

Interestingly, groceries are about 161% cheaper in Akureyri – one category where the pricier city actually offers better value, probably thanks to stronger retail competition or local farming.

$2,000 is a stretch for both – monthly costs hit $2,916 in Akureyri and $2,853 in Keflavik. You'll need shared housing and careful budgeting no matter which city you pick.

Families tend to lean toward Keflavik – 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 Keflavik. 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.