Last update: Oct 2026

Cost of Living Comparison Between Bakkafjordur and Akureyri

For one person, living is cheaper in Bakkafjordur: $250 a month against $3,077 in Akureyri, rent and utilities included – about $33,900 less a year. Rent and utilities account for most of the difference.

Jump to prices

Bakkafjordur

🇮🇸 Iceland

$250

/mo nomad

Akureyri

🇮🇸 Iceland

$3,077

/mo nomad

Monthly Cost of Living

How much you'll spend in Bakkafjordur and in Akureyri

Real prices from locals and on-the-ground checks – rent, groceries, transit and the daily extras. Here's what a month in Bakkafjordur and in Akureyri actually costs, broken down by who's living it.

A single person spends $250 per month in Bakkafjordur vs $3,077 in Akureyri, rent included.

Bakkafjordur $250
Akureyri $3,077

A couple spends around $427 per month in Bakkafjordur vs $4,153 in Akureyri, rent included.

Bakkafjordur $427
Akureyri $4,153

A family of three spends $604 per month in Bakkafjordur vs $5,229 in Akureyri, rent included.

Bakkafjordur $604
Akureyri $5,229

Bakkafjordur is about 92% cheaper than Akureyri, and outside of rent the biggest gap is in eating out.

Bakkafjordur sits 81% below the global median, while Akureyri is 128% above – they fall on opposite sides of the world average.

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

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

Imported Beer (0.33 liter bottle)

$9.32 ISK 1,131

Milk (1 liter)

$2.85 ISK 346

White Bread (500g)

$2.26 ISK 275

$2.31 ISK 281

-2.16%

Rice (white) (1kg)

$2.17 ISK 263

$3.16 ISK 384

-31.33%

Eggs

$4.88 ISK 591

$7.98 ISK 968

-38.85%

Local Cheese (1kg)

$8.91 ISK 1,081

$15.35 ISK 1,862

-41.95%

Chicken Fillets (1kg)

$11.17 ISK 1,355

$24.80 ISK 3,008

-54.96%

Beef Round Steak (1kg)

$11.19 ISK 1,357

Apples (1kg)

$2.22 ISK 269

Banana (1kg)

$2.25 ISK 273

$2.85 ISK 346

-21.05%

Oranges (1kg)

$2.22 ISK 269

$3.51 ISK 426

-36.75%

Tomato (1kg)

$2.19 ISK 265

$6.15 ISK 746

-64.39%

Potato (1kg)

$2.18 ISK 264

Onion (1kg)

$2.24 ISK 272

Lettuce (1 head)

$1.02 ISK 124

Water (1.5 liter bottle)

$1.97 ISK 238

Cigarettes 20 Pack (Marlboro, Camel)

$13.88 ISK 1,684

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

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

Average Monthly Net Salary (After Tax)

$5,928 ISK 719.0K

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 Bakkafjordur: October 11, 2026

Last update for Akureyri: October 11, 2026

Good to know

🇮🇸 Bakkafjordur

🇮🇸 Akureyri

🕒 Local time

00:16 12:16 AM

Same time as Bakkafjordur

🌤 Weather

👥 Population

100

19,219

💱 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

On the map

Lowest

Highest

Between locations

Bakkafjordur Akureyri 160 km

From you

Bakkafjordur
Akureyri

Distances are measured in a straight line. Your location is detected approximately.

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

Bakkafjordur vs Akureyri: Cost of Living - Frequently Asked Questions

Yes – Akureyri is pricier by about 1131%, and outside of rent the gap shows up most in eating out.

For a comfortable life, plan on about $375 per month in Bakkafjordur and $4,616 in Akureyri. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Monthly expenses with rent come to $250 in Bakkafjordur and $3,077 in Akureyri. That's a gap of about 1131%.

Groceries cost about 31% more in Akureyri, though it depends on what you buy. Local produce may be comparable; imported and premium items show the biggest price gap.

A $1,000 monthly budget goes further in Bakkafjordur, where all-in costs run around $250, than in Akureyri at $3,077. In Bakkafjordur it covers expenses comfortably, while in Akureyri it requires careful planning or may not stretch far enough.

Families tend to lean toward Bakkafjordur – 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 Bakkafjordur. If higher salaries, better infrastructure, or specific career opportunities are the priority, Akureyri makes more sense. Both are solid long-term options with distinct trade-offs.