Last update: Oct 2026

Cost of Living Comparison Between Akureyri and Reykjavik

For one person, living is cheaper in Akureyri: $3,106 a month against $4,040 in Reykjavik, rent and utilities included – about $11,200 less a year. Other living expenses account for most of the difference.

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Cost of Living Index in Reykjavik
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Reykjavik Living Index

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Akureyri

🇮🇸 Iceland

$3,106

/mo nomad

Reykjavik

🇮🇸 Iceland

$4,040

/mo nomad

Monthly Cost of Living

How much you'll spend in Akureyri and in Reykjavik

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

A single person spends $3,106 per month in Akureyri vs $4,040 in Reykjavik, rent included.

Akureyri $3,106
Reykjavik $4,040

A couple spends around $4,176 per month in Akureyri vs $5,742 in Reykjavik, rent included.

Akureyri $4,176
Reykjavik $5,742

A family of three spends $5,246 per month in Akureyri vs $7,445 in Reykjavik, rent included.

Akureyri $5,246
Reykjavik $7,445

Akureyri is about 23% cheaper than Reykjavik, and outside of rent the biggest gap is in groceries.

Both Akureyri and Reykjavik sit above the global median – Akureyri by 128%, Reykjavik by 197%.

Meal at Budget Restaurant

$24.94 ISK 3,028

$31.42 ISK 3,815

-20.62%

Three-Course Dinner for Two, Mid-Range

$129 ISK 15.6K

$125 ISK 15.2K

3.04%

Fast Food Meal (McDonalds, etc)

$22.63 ISK 2,748

$27.18 ISK 3,300

-16.74%

Cappuccino

$5.04 ISK 611

$6.65 ISK 807

-24.21%

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

$3.35 ISK 406

$3.41 ISK 414

-1.76%

Water (0.33 liter bottle)

$2.99 ISK 363

$3.04 ISK 369

-1.64%

Local Beer (0.5 liter draught)

$11.22 ISK 1,362

$14.18 ISK 1,721

-20.87%

Imported Beer (0.33 liter bottle)

$9.62 ISK 1,168

$12.16 ISK 1,477

-20.89%

Milk (1 liter)

$2.77 ISK 337

$2.10 ISK 255

31.90%

White Bread (500g)

$2.32 ISK 282

$4.14 ISK 502

-43.96%

Rice (white) (1kg)

$3.14 ISK 382

$3.69 ISK 447

-14.91%

Eggs

$7.65 ISK 928

$7.09 ISK 860

7.90%

Local Cheese (1kg)

$15.85 ISK 1,925

$22.32 ISK 2,709

-28.99%

Chicken Fillets (1kg)

$24.82 ISK 3,013

$24.78 ISK 3,008

0.16%

Beef Round Steak (1kg)

$42.67 ISK 5,181

Apples (1kg)

$3.29 ISK 400

Banana (1kg)

$2.92 ISK 354

$2.88 ISK 350

1.39%

Oranges (1kg)

$3.45 ISK 419

$3.27 ISK 397

5.50%

Tomato (1kg)

$6.08 ISK 738

$6.37 ISK 773

-4.55%

Potato (1kg)

$3.96 ISK 481

Onion (1kg)

$1.62 ISK 197

Lettuce (1 head)

$3.70 ISK 449

Water (1.5 liter bottle)

$1.77 ISK 215

Cigarettes 20 Pack (Marlboro, Camel)

$13.71 ISK 1,664

$13.66 ISK 1,658

0.37%

Wine (Bottle)

$24.16 ISK 2,933

Local Beer (0.5 liter bottle)

$3.66 ISK 444

Imported Beer (0.33 liter bottle)

$3.43 ISK 416

One-way Ticket (Public Transport)

$5.49 ISK 666

Public Transport Monthly Pass (Regular Price)

$96.1 ISK 11.7K

Taxi Start (Normal Tariff)

$6.85 ISK 831

Taxi (Normal Tariff) (1km)

$2.90 ISK 352

Taxi 1hour Waiting (Normal Tariff)

$81.8 ISK 9,935

Gasoline (1 liter)

$2.59 ISK 314

$2.02 ISK 245

28.22%

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

$41.3K ISK 5.0M

$68.2K ISK 8.3M

-39.45%

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

$65.2K ISK 7.9M

$56.3K ISK 6.8M

15.76%

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

$121 ISK 14.7K

$95.9 ISK 11.6K

25.93%

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

$25.21 ISK 3,061

$32.16 ISK 3,904

-21.61%

Internet (50+ Mbps, Unlimited Data)

$165 ISK 20.0K

$86.4 ISK 10.5K

90.50%

Gym Membership (Monthly)

$84.3 ISK 10.2K

$96.9 ISK 11.8K

-12.99%

Tennis Court (1 Hour on Weekend)

$51.2 ISK 6,216

Cinema Ticket

$15.53 ISK 1,885

$19.28 ISK 2,340

-19.45%

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

$367 ISK 44.6K

$1,178 ISK 143.0K

-68.83%

International Primary School, 1 Child (Yearly)

$25.8K ISK 3.1M

Jeans (Levis 501 Or Similar)

$80.8 ISK 9,810

$152 ISK 18.5K

-46.89%

Summer Dress (H&M, Zara, etc)

$66.5 ISK 8,076

Sport Shoes (Adidas, Nike)

$122 ISK 14.8K

$183 ISK 22.3K

-33.37%

Men's Leather Business Shoes

$246 ISK 29.8K

1-bedroom Apartment, City Center (Monthly)

$1,835 ISK 222.7K

$2,585 ISK 313.8K

-29.01%

1-bedroom Apartment, Outside City Center (Monthly)

$1,833 ISK 222.5K

$2,098 ISK 254.7K

-12.66%

3-bedroom Apartment, City Center (Monthly)

$3,513 ISK 426.5K

3-bedroom Apartment, Outside City Center (Monthly)

$2,186 ISK 265.4K

$2,792 ISK 338.9K

-21.70%

Buy Apartment in City Center (m2)

$6,596 ISK 800.8K

$8,038 ISK 975.8K

-17.94%

Buy Apartment Outside City Center (m2)

$6,483 ISK 787.1K

$6,305 ISK 765.5K

2.82%

Average Monthly Net Salary (After Tax)

$4,549 ISK 552.3K

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 Reykjavik: October 25, 2026

Monthly budget structure

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

Accommodation & Living

Akureyri

–

Reykjavik

$2.1K 51.9%

Groceries & Markets

Akureyri

–

Reykjavik

$628 15.5%

Eating Out

Akureyri

–

Reykjavik

$534 13.2%

Clothing & Footwear

Akureyri

–

Reykjavik

$291 7.2%

Monthly Utilities & Internet

Akureyri

–

Reykjavik

$215 5.3%

Getting Around

Akureyri

–

Reykjavik

$139 3.5%

Sport & Entertainment

Akureyri

–

Reykjavik

$135 3.4%

Cost Breakdown

A central one-bedroom costs $1,835 in Akureyri versus $2,585 in Reykjavik. 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 Reykjavik. Groceries tell a different story – $327 in Akureyri vs $628 in Reykjavik – so Akureyri wins on supermarket bills even if dining out costs more.

Good to know

🇮🇸 Akureyri

🇮🇸 Reykjavik

🕒 Local time

16:01 4:01 PM

Same time as Akureyri

🌤 Weather

👥 Population

19,219

136,894 Capital

💱 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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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 Reykjavik: Cost of Living - Frequently Asked Questions

Yes – Reykjavik is pricier by about 30%, 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 $6,061 in Reykjavik. 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 $2,585 in Reykjavik.

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

Groceries cost about 92% more in Reykjavik, though the gap depends on what you buy.

$2,500 is a stretch for both – monthly costs hit $3,106 in Akureyri and $4,040 in Reykjavik. 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.