Last update: Oct 2026

Cost of Living Comparison Between Akureyri and Selfoss

For one person, living is cheaper in Akureyri: $3,077 a month against $3,423 in Selfoss, rent and utilities included – about $4,200 less a year. Higher rent and utilities in Selfoss outweigh lower spending on other living expenses.

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Akureyri

🇮🇸 Iceland

$3,077

/mo nomad

Selfoss

🇮🇸 Iceland

$3,423

/mo nomad

Monthly Cost of Living

How much you'll spend in Akureyri and in Selfoss

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

A single person spends $3,077 per month in Akureyri vs $3,423 in Selfoss, rent included.

Akureyri $3,077
Selfoss $3,423

A couple spends around $4,153 per month in Akureyri vs $2,440 in Selfoss, rent included.

Akureyri $4,153
Selfoss $2,440

A family of three spends $5,229 per month in Akureyri vs $1,458 in Selfoss, rent included.

Akureyri $5,229
Selfoss $1,458

Akureyri is about 10% cheaper than Selfoss, and outside of rent the biggest gap is in eating out.

Both Akureyri and Selfoss sit above the global median – Akureyri by 128%, Selfoss by 154%.

Meal at Budget Restaurant

$24.88 ISK 3,018

Three-Course Dinner for Two, Mid-Range

$129 ISK 15.7K

Fast Food Meal (McDonalds, etc)

$22.70 ISK 2,753

$20.48 ISK 2,484

10.84%

Cappuccino

$5.07 ISK 615

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

$3.35 ISK 407

Water (0.33 liter bottle)

$3.03 ISK 368

Local Beer (0.5 liter draught)

$10.86 ISK 1,317

$12.21 ISK 1,481

-11.06%

Imported Beer (0.33 liter bottle)

$9.32 ISK 1,131

Milk (1 liter)

$2.85 ISK 346

$1.76 ISK 213

61.93%

White Bread (500g)

$2.31 ISK 281

$7.60 ISK 922

-69.61%

Rice (white) (1kg)

$3.16 ISK 384

$4.49 ISK 544

-29.62%

Eggs

$7.98 ISK 968

$6.43 ISK 780

24.11%

Local Cheese (1kg)

$15.35 ISK 1,862

$17.36 ISK 2,105

-11.58%

Chicken Fillets (1kg)

$24.80 ISK 3,008

$21.64 ISK 2,624

14.60%

Beef Round Steak (1kg)

$33.84 ISK 4,105

Apples (1kg)

$2.70 ISK 327

Banana (1kg)

$2.85 ISK 346

$2.60 ISK 316

9.62%

Oranges (1kg)

$3.51 ISK 426

$2.64 ISK 320

32.95%

Tomato (1kg)

$6.15 ISK 746

$7.07 ISK 857

-13.01%

Potato (1kg)

$3.27 ISK 396

Onion (1kg)

$2.18 ISK 265

Lettuce (1 head)

$3.58 ISK 435

Water (1.5 liter bottle)

$1.37 ISK 166

Cigarettes 20 Pack (Marlboro, Camel)

$13.88 ISK 1,684

$15.69 ISK 1,903

-11.54%

Imported Beer (0.33 liter bottle)

$1.16 ISK 141

Gasoline (1 liter)

$2.64 ISK 320

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

$41.7K ISK 5.1M

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

$66.3K ISK 8.0M

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

$124 ISK 15.0K

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

$25.96 ISK 3,149

Internet (50+ Mbps, Unlimited Data)

$163 ISK 19.8K

Gym Membership (Monthly)

$84.4 ISK 10.2K

Cinema Ticket

$15.29 ISK 1,855

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

$365 ISK 44.3K

Jeans (Levis 501 Or Similar)

$83.1 ISK 10.1K

Sport Shoes (Adidas, Nike)

$122 ISK 14.8K

1-bedroom Apartment, City Center (Monthly)

$1,829 ISK 221.8K

1-bedroom Apartment, Outside City Center (Monthly)

$1,802 ISK 218.6K

$2,779 ISK 337.1K

-35.16%

3-bedroom Apartment, Outside City Center (Monthly)

$2,163 ISK 262.4K

Buy Apartment in City Center (m2)

$6,455 ISK 783.0K

Buy Apartment Outside City Center (m2)

$6,684 ISK 810.7K

20-Year Fixed Mortgage Interest Rate (Annual %)

9.4

CityCost data is based on AI and user input – minor inaccuracies may occur.

Last update for Akureyri: October 11, 2026

Last update for Selfoss: October 11, 2026

Good to know

🇮🇸 Akureyri

🇮🇸 Selfoss

🕒 Local time

22:56 10:56 PM

Same time as Akureyri

🌤 Weather

👥 Population

19,219

9,000

💱 Currency

Icelandic Króna ISK kr

📈 Exchange rate

1,000 ISK = 8.24 USD

1,000 ISK = 7.33 EUR

1,000 ISK = 8.24 USD

1,000 ISK = 7.33 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 Selfoss: Cost of Living - Frequently Asked Questions

Yes – Selfoss is pricier by about 11%, and outside of rent the gap shows up most in eating out.

For a comfortable life, plan on about $4,616 per month in Akureyri and $5,135 in Selfoss. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Monthly expenses with rent come to $3,077 in Akureyri and $3,423 in Selfoss. That's a gap of about 11%.

Groceries cost about 59% more in Selfoss, though it depends on what you buy. Local produce may be comparable; imported and premium items show the biggest price gap.

A $2,500 monthly budget goes further in Akureyri, where all-in costs run around $3,077, than in Selfoss at $3,423. In Akureyri it covers expenses comfortably, while in Selfoss it requires careful planning or may not stretch far enough.

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, Selfoss makes more sense. Both are solid long-term options with distinct trade-offs.