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

Monthly Cost of Living

A single person spends $2,878 per month in Akureyri vs $3,559 in Selfoss, rent included.

A couple spends around $3,875 per month in Akureyri vs $2,492 in Selfoss, rent included.

A family of three spends $4,871 per month in Akureyri vs $1,424 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

$23.99 ISK 2,989

Three-Course Dinner for Two, Mid-Range

$129 ISK 16.1K

Fast Food Meal (McDonalds, etc)

$22.32 ISK 2,781

$19.97 ISK 2,488

11.77%

Cappuccino

$4.83 ISK 602

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

$3.39 ISK 422

Water (0.33 liter bottle)

$3.07 ISK 383

Local Beer (0.5 liter draught)

$10.69 ISK 1,332

$11.83 ISK 1,474

-9.64%

Imported Beer (0.33 liter bottle)

$9.08 ISK 1,132

Milk (1 liter)

$2.76 ISK 344

$1.69 ISK 210

63.31%

White Bread (500g)

$2.28 ISK 284

$7.51 ISK 936

-69.64%

Rice (white) (1kg)

$3.00 ISK 374

$4.32 ISK 538

-30.56%

Eggs

$7.93 ISK 988

$6.46 ISK 806

22.76%

Local Cheese (1kg)

$16.56 ISK 2,064

Chicken Fillets (1kg)

$23.73 ISK 2,956

$20.80 ISK 2,591

14.09%

Beef Round Steak (1kg)

$33.49 ISK 4,173

Apples (1kg)

$2.63 ISK 328

Banana (1kg)

$2.55 ISK 317

Oranges (1kg)

$2.67 ISK 333

Tomato (1kg)

$6.98 ISK 870

Potato (1kg)

$3.22 ISK 401

Onion (1kg)

$2.02 ISK 252

Lettuce (1 head)

$3.51 ISK 438

Water (1.5 liter bottle)

$1.38 ISK 172

Cigarettes 20 Pack (Marlboro, Camel)

$13.56 ISK 1,689

$14.97 ISK 1,866

-9.42%

Imported Beer (0.33 liter bottle)

$1.10 ISK 137

Gasoline (1 liter)

$2.54 ISK 317

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

$40.4K ISK 5.0M

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

$64.1K ISK 8.0M

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

$120 ISK 15.0K

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

$25.14 ISK 3,133

Internet (50+ Mbps, Unlimited Data)

$160 ISK 19.9K

Gym Membership (Monthly)

$84.0 ISK 10.5K

Cinema Ticket

$15.09 ISK 1,880

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

$367 ISK 45.7K

Jeans (Levis 501 Or Similar)

$82.0 ISK 10.2K

Sport Shoes (Adidas, Nike)

$119 ISK 14.9K

1-bedroom Apartment, City Center (Monthly)

$1,774 ISK 221.1K

1-bedroom Apartment, Outside City Center (Monthly)

$1,782 ISK 222.0K

$2,927 ISK 364.7K

-39.13%

3-bedroom Apartment, Outside City Center (Monthly)

$2,084 ISK 259.7K

Buy Apartment in City Center (m2)

$6,329 ISK 788.6K

Buy Apartment Outside City Center (m2)

$6,340 ISK 790.0K

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: July 13, 2026

Last update for Selfoss: July 12, 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 $4,317 per month in Akureyri and $5,339 in Selfoss. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Monthly expenses with rent come to $2,878 in Akureyri and $3,559 in Selfoss. The difference isn't just one category – it shows up across housing, food, transport, and services.

Groceries cost about 140% 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 $2,878, than in Selfoss at $3,559. 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.