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

Monthly Cost of Living

A single person spends $2,882 per month in Akureyri vs $3,570 in Selfoss, rent included.

A couple spends around $3,886 per month in Akureyri vs $2,495 in Selfoss, rent included.

A family of three spends $4,890 per month in Akureyri vs $1,420 in Selfoss, rent included.

Akureyri is about 19% cheaper than Selfoss, driven mainly by Groceries & Markets.

Both Akureyri and Selfoss sit above the global median – Akureyri by 115%, Selfoss by 166%.

Meal at Budget Restaurant

$23.72 ISK 2,924

Three-Course Dinner for Two, Mid-Range

$128 ISK 15.8K

Fast Food Meal (McDonalds, etc)

$22.22 ISK 2,740

$20.29 ISK 2,501

9.51%

Cappuccino

$4.83 ISK 596

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

$3.26 ISK 402

Water (0.33 liter bottle)

$3.03 ISK 374

Local Beer (0.5 liter draught)

$10.68 ISK 1,316

$11.95 ISK 1,473

-10.63%

Imported Beer (0.33 liter bottle)

$9.17 ISK 1,130

Milk (1 liter)

$2.89 ISK 357

$1.72 ISK 213

68.02%

White Bread (500g)

$2.36 ISK 291

$7.35 ISK 907

-67.89%

Rice (white) (1kg)

$3.14 ISK 387

$4.47 ISK 551

-29.75%

Eggs

$8.08 ISK 997

$6.25 ISK 770

29.28%

Local Cheese (1kg)

$16.79 ISK 2,070

Chicken Fillets (1kg)

$23.63 ISK 2,914

$21.12 ISK 2,604

11.88%

Beef Round Steak (1kg)

$32.72 ISK 4,034

Apples (1kg)

$2.77 ISK 342

Banana (1kg)

$2.57 ISK 317

Oranges (1kg)

$2.72 ISK 335

Tomato (1kg)

$7.27 ISK 896

Potato (1kg)

$3.04 ISK 375

Onion (1kg)

$2.03 ISK 250

Lettuce (1 head)

$3.43 ISK 422

Water (1.5 liter bottle)

$1.38 ISK 170

Cigarettes 20 Pack (Marlboro, Camel)

$13.17 ISK 1,624

$15.40 ISK 1,899

-14.48%

Imported Beer (0.33 liter bottle)

$1.13 ISK 139

Gasoline (1 liter)

$2.45 ISK 302

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

$40.3K ISK 5.0M

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

$64.0K ISK 7.9M

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

$120 ISK 14.8K

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

$24.83 ISK 3,062

Internet (50+ Mbps, Unlimited Data)

$164 ISK 20.2K

Gym Membership (Monthly)

$84.4 ISK 10.4K

Cinema Ticket

$15.27 ISK 1,883

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

$369 ISK 45.5K

Jeans (Levis 501 Or Similar)

$79.4 ISK 9,794

Sport Shoes (Adidas, Nike)

$121 ISK 14.9K

1-bedroom Apartment, City Center (Monthly)

$1,790 ISK 220.7K

1-bedroom Apartment, Outside City Center (Monthly)

$1,741 ISK 214.7K

$2,924 ISK 360.6K

-40.45%

3-bedroom Apartment, Outside City Center (Monthly)

$2,143 ISK 264.2K

Buy Apartment in City Center (m2)

$6,370 ISK 785.4K

Buy Apartment Outside City Center (m2)

$6,428 ISK 792.6K

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: June 1, 2026

Last update for Selfoss: May 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 24%, 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 $4,322 per month in Akureyri and $5,355 in Selfoss. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Monthly expenses with rent come to $2,882 in Akureyri and $3,570 in Selfoss. The difference isn't just one category – it shows up across housing, food, transport, and services.

Groceries cost about 137% 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 $2,882, than in Selfoss at $3,570. 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.