Cost of Living Comparison Between Akureyri and Reykjavik Cost of Living Comparison Between Akureyri and Reykjavik

Monthly Cost of Living

A single person spends $2,916 per month in Akureyri vs $3,849 in Reykjavik, rent included.

A couple spends around $3,931 per month in Akureyri vs $5,457 in Reykjavik, rent included.

A family of three spends $4,946 per month in Akureyri vs $7,065 in Reykjavik, rent included.

Akureyri is about 24% cheaper than Reykjavik, driven mainly by Groceries & Markets.

Both Akureyri and Reykjavik sit above the global median – Akureyri by 119%, Reykjavik by 189%.

Meal at Budget Restaurant

$23.95 ISK 2,961

$26.85 ISK 3,319

-10.80%

Three-Course Dinner for Two, Mid-Range

$130 ISK 16.0K

$142 ISK 17.6K

-8.80%

Fast Food Meal (McDonalds, etc)

$21.94 ISK 2,711

$22.18 ISK 2,741

-1.08%

Cappuccino

$4.86 ISK 601

$6.17 ISK 763

-21.23%

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

$3.30 ISK 408

$3.24 ISK 401

1.85%

Water (0.33 liter bottle)

$2.94 ISK 363

$2.62 ISK 324

12.21%

Local Beer (0.5 liter draught)

$10.68 ISK 1,320

$12.69 ISK 1,569

-15.84%

Imported Beer (0.33 liter bottle)

$9.31 ISK 1,150

$11.39 ISK 1,408

-18.26%

Milk (1 liter)

$2.76 ISK 341

$1.87 ISK 231

47.59%

White Bread (500g)

$2.37 ISK 293

$4.30 ISK 531

-44.88%

Rice (white) (1kg)

$3.13 ISK 387

$3.56 ISK 440

-12.08%

Eggs

$7.80 ISK 964

$6.28 ISK 777

24.20%

Local Cheese (1kg)

$18.25 ISK 2,255

Chicken Fillets (1kg)

$23.90 ISK 2,954

$23.69 ISK 2,929

0.89%

Beef Round Steak (1kg)

$42.14 ISK 5,209

Apples (1kg)

$3.33 ISK 412

Banana (1kg)

$2.41 ISK 298

Oranges (1kg)

$3.00 ISK 370

Tomato (1kg)

$5.12 ISK 633

Potato (1kg)

$3.58 ISK 442

Onion (1kg)

$2.36 ISK 292

Lettuce (1 head)

$3.14 ISK 388

Water (1.5 liter bottle)

$2.03 ISK 251

Cigarettes 20 Pack (Marlboro, Camel)

$13.24 ISK 1,637

$13.89 ISK 1,717

-4.68%

Wine (Bottle)

$23.38 ISK 2,890

Local Beer (0.5 liter bottle)

$3.58 ISK 442

Imported Beer (0.33 liter bottle)

$3.21 ISK 397

One-way Ticket (Public Transport)

$5.09 ISK 629

Public Transport Monthly Pass (Regular Price)

$86.7 ISK 10.7K

Taxi Start (Normal Tariff)

$6.37 ISK 787

Taxi (Normal Tariff) (1km)

$2.56 ISK 316

Taxi 1hour Waiting (Normal Tariff)

$86.9 ISK 10.7K

Gasoline (1 liter)

$2.54 ISK 314

$2.45 ISK 303

3.67%

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

$40.7K ISK 5.0M

$48.1K ISK 5.9M

-15.51%

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

$64.5K ISK 8.0M

$52.6K ISK 6.5M

22.75%

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

$121 ISK 15.0K

$87.4 ISK 10.8K

38.52%

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

$25.49 ISK 3,151

$27.40 ISK 3,386

-6.97%

Internet (50+ Mbps, Unlimited Data)

$159 ISK 19.7K

$86.5 ISK 10.7K

84.40%

Gym Membership (Monthly)

$82.4 ISK 10.2K

$83.6 ISK 10.3K

-1.51%

Tennis Court (1 Hour on Weekend)

$37.79 ISK 4,671

Cinema Ticket

$14.79 ISK 1,828

$17.41 ISK 2,152

-15.05%

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

$361 ISK 44.7K

$322 ISK 39.8K

12.16%

International Primary School, 1 Child (Yearly)

$30.1K ISK 3.7M

Jeans (Levis 501 Or Similar)

$79.9 ISK 9,872

$137 ISK 16.9K

-41.52%

Summer Dress (H&M, Zara, etc)

$61.0 ISK 7,536

Sport Shoes (Adidas, Nike)

$119 ISK 14.7K

$181 ISK 22.4K

-34.24%

Men's Leather Business Shoes

$271 ISK 33.5K

1-bedroom Apartment, City Center (Monthly)

$1,762 ISK 217.8K

$2,228 ISK 275.4K

-20.89%

1-bedroom Apartment, Outside City Center (Monthly)

$1,790 ISK 221.2K

$2,035 ISK 251.5K

-12.07%

3-bedroom Apartment, City Center (Monthly)

$3,171 ISK 392.0K

3-bedroom Apartment, Outside City Center (Monthly)

$2,143 ISK 264.8K

$2,699 ISK 333.6K

-20.62%

Buy Apartment in City Center (m2)

$6,491 ISK 802.3K

$7,931 ISK 980.2K

-18.15%

Buy Apartment Outside City Center (m2)

$6,302 ISK 778.9K

$6,333 ISK 782.8K

-0.49%

Average Monthly Net Salary (After Tax)

$4,563 ISK 564.0K

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 Reykjavik: July 28, 2026

Cost Breakdown

A central one-bedroom costs $1,762 in Akureyri versus $2,228 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 $130 in Akureyri versus $142 in Reykjavik. Monthly groceries follow the same trend: $214 vs $593 – 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 Reykjavik: Cost of Living - Frequently Asked Questions

Yes – Reykjavik is pricier by about 32%, 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 $5,774 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. 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 $142 in Reykjavik. That's a good indicator of the overall restaurant and café pricing gap between the two cities.

Groceries cost about 176% more in Reykjavik, though it depends on what you buy. Local produce may be comparable; imported and premium items show the biggest price gap.

$2,500 is a stretch for both – monthly costs hit $2,916 in Akureyri and $3,849 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 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, Reykjavik makes more sense. Both are solid long-term options with distinct trade-offs.