Cost of Living Comparison Between Akureyri and Selfoss Cost of Living Comparison Between Akureyri and Selfoss

Monthly Cost of Living

A single person spends $3,122 per month in Akureyri vs $3,532 in Selfoss, rent included.

A couple spends around $4,153 per month in Akureyri vs $2,484 in Selfoss, rent included.

A family of three spends $5,184 per month in Akureyri vs $1,437 in Selfoss, rent included.

Akureyri is about 12% cheaper than Selfoss, driven mainly by Eating Out.

Both Akureyri and Selfoss sit above the global median – Akureyri by 127%, Selfoss by 157%.

Meal at Budget Restaurant

$24.26 ISK 2,940

Three-Course Dinner for Two, Mid-Range

$133 ISK 16.2K

Fast Food Meal (McDonalds, etc)

$22.44 ISK 2,719

$20.68 ISK 2,506

8.51%

Cappuccino

$4.94 ISK 599

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

$3.35 ISK 406

Water (0.33 liter bottle)

$3.15 ISK 382

Local Beer (0.5 liter draught)

$11.19 ISK 1,356

$12.61 ISK 1,529

-11.26%

Imported Beer (0.33 liter bottle)

$9.57 ISK 1,159

Milk (1 liter)

$2.74 ISK 332

$1.73 ISK 209

58.38%

White Bread (500g)

$2.34 ISK 283

$7.63 ISK 925

-69.33%

Rice (white) (1kg)

$3.19 ISK 386

$4.43 ISK 537

-27.99%

Eggs

$7.64 ISK 926

$6.36 ISK 770

20.13%

Local Cheese (1kg)

$15.73 ISK 1,907

$17.11 ISK 2,073

-8.07%

Chicken Fillets (1kg)

$24.74 ISK 2,998

$21.32 ISK 2,583

16.04%

Beef Round Steak (1kg)

$33.82 ISK 4,098

Apples (1kg)

$2.72 ISK 329

Banana (1kg)

$2.93 ISK 355

$2.69 ISK 326

8.92%

Oranges (1kg)

$3.48 ISK 422

$2.70 ISK 327

28.89%

Tomato (1kg)

$6.04 ISK 732

$7.46 ISK 904

-19.03%

Potato (1kg)

$3.23 ISK 392

Onion (1kg)

$2.08 ISK 252

Lettuce (1 head)

$3.65 ISK 442

Water (1.5 liter bottle)

$1.41 ISK 170

Cigarettes 20 Pack (Marlboro, Camel)

$13.98 ISK 1,694

$15.32 ISK 1,856

-8.75%

Imported Beer (0.33 liter bottle)

$1.18 ISK 143

Gasoline (1 liter)

$2.65 ISK 321

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

$42.0K ISK 5.1M

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

$66.7K ISK 8.1M

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

$122 ISK 14.7K

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

$26.17 ISK 3,171

Internet (50+ Mbps, Unlimited Data)

$163 ISK 19.7K

Gym Membership (Monthly)

$86.4 ISK 10.5K

Cinema Ticket

$15.18 ISK 1,840

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

$375 ISK 45.4K

Jeans (Levis 501 Or Similar)

$80.9 ISK 9,802

Sport Shoes (Adidas, Nike)

$126 ISK 15.3K

1-bedroom Apartment, City Center (Monthly)

$1,827 ISK 221.5K

1-bedroom Apartment, Outside City Center (Monthly)

$1,785 ISK 216.3K

$2,961 ISK 358.8K

-39.72%

3-bedroom Apartment, Outside City Center (Monthly)

$2,204 ISK 267.1K

Buy Apartment in City Center (m2)

$6,515 ISK 789.5K

Buy Apartment Outside City Center (m2)

$6,675 ISK 808.8K

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: August 29, 2026

Last update for Selfoss: August 30, 2026

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 13%, and the gap shows up most in Eating Out. It's not just housing either; the difference applies across most spending categories.

For a comfortable life, plan on about $4,683 per month in Akureyri and $5,298 in Selfoss. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Monthly expenses with rent come to $3,122 in Akureyri and $3,532 in Selfoss. The difference isn't just one category – it shows up across housing, food, transport, and services.

Groceries cost about 60% 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 $3,122, than in Selfoss at $3,532. 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.