Last update: Oct 2026

Cost of Living Comparison Between Bakkafjordur and Chiang Mai

For one person, living is cheaper in Bakkafjordur: $250 a month against $938 in Chiang Mai, rent and utilities included – about $8,300 less a year. Rent and utilities account for about half of the difference.

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Cost of Living Index in Chiang Mai
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Chiang Mai Living Index

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Bakkafjordur

🇮🇸 Iceland

$250

/mo nomad

Chiang Mai

🇹🇭 Thailand

$938

/mo nomad

Monthly Cost of Living

How much you'll spend in Bakkafjordur and in Chiang Mai

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

A single person spends $250 per month in Bakkafjordur vs $938 in Chiang Mai, rent included.

Bakkafjordur $250
Chiang Mai $938

A couple spends around $427 per month in Bakkafjordur vs $1,426 in Chiang Mai, rent included.

Bakkafjordur $427
Chiang Mai $1,426

A family of three spends $604 per month in Bakkafjordur vs $1,914 in Chiang Mai, rent included.

Bakkafjordur $604
Chiang Mai $1,914

Bakkafjordur is about 73% cheaper than Chiang Mai, and outside of rent the biggest gap is in clothing.

Both Bakkafjordur and Chiang Mai are more affordable than the global median – Bakkafjordur 81% lower, Chiang Mai 30% lower.

Meal at Budget Restaurant

$2.26 ฿75.4

Three-Course Dinner for Two, Mid-Range

$19.18 ฿641

Fast Food Meal (McDonalds, etc)

$5.59 ฿187

Cappuccino

$1.72 ฿57.6

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

$0.64 ฿21.54

Water (0.33 liter bottle)

$0.33 ฿11.18

Local Beer (0.5 liter draught)

$2.36 ฿78.7

Imported Beer (0.33 liter bottle)

$3.90 ฿130

Milk (1 liter)

$2.05 ฿68.6

White Bread (500g)

$2.26 ISK 275

$1.40 ฿46.70

61.43%

Rice (white) (1kg)

$2.17 ISK 263

$1.28 ฿42.89

69.53%

Eggs

$4.88 ISK 591

$2.25 ฿75.3

116.89%

Local Cheese (1kg)

$8.91 ISK 1,081

$16.94 ฿566

-47.40%

Chicken Fillets (1kg)

$11.17 ISK 1,355

$2.74 ฿91.6

307.66%

Beef Round Steak (1kg)

$11.19 ISK 1,357

$9.36 ฿313

19.55%

Apples (1kg)

$2.22 ISK 269

$2.40 ฿80.3

-7.50%

Banana (1kg)

$2.25 ISK 273

$1.01 ฿33.92

122.77%

Oranges (1kg)

$2.22 ISK 269

$1.61 ฿53.9

37.89%

Tomato (1kg)

$2.19 ISK 265

$1.52 ฿50.7

44.08%

Potato (1kg)

$2.18 ISK 264

$1.28 ฿42.90

70.31%

Onion (1kg)

$2.24 ISK 272

$1.11 ฿37.22

101.80%

Lettuce (1 head)

$1.02 ISK 124

$0.72 ฿24.09

41.67%

Water (1.5 liter bottle)

$1.97 ISK 238

$0.52 ฿17.54

278.85%

Cigarettes 20 Pack (Marlboro, Camel)

$4.33 ฿145

Wine (Bottle)

$17.73 ฿593

Local Beer (0.5 liter bottle)

$1.63 ฿54.4

Imported Beer (0.33 liter bottle)

$2.85 ฿95.3

One-way Ticket (Public Transport)

$0.85 ฿28.31

Public Transport Monthly Pass (Regular Price)

$53.9 ฿1,801

Taxi Start (Normal Tariff)

$1.17 ฿39.18

Taxi (Normal Tariff) (1km)

$0.57 ฿19.00

Taxi 1hour Waiting (Normal Tariff)

$2.37 ฿79.2

Gasoline (1 liter)

$1.45 ฿48.32

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

$20.5K ฿684.3K

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

$26.5K ฿886.1K

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

$62.3 ฿2,083

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

$12.27 ฿410

Internet (50+ Mbps, Unlimited Data)

$19.97 ฿668

Gym Membership (Monthly)

$37.91 ฿1,267

Tennis Court (1 Hour on Weekend)

$3.76 ฿126

Cinema Ticket

$6.71 ฿224

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

$797 ฿26.6K

International Primary School, 1 Child (Yearly)

$14.8K ฿495.7K

Jeans (Levis 501 Or Similar)

$53.3 ฿1,780

Summer Dress (H&M, Zara, etc)

$25.05 ฿837

Sport Shoes (Adidas, Nike)

$91.6 ฿3,062

Men's Leather Business Shoes

$73.5 ฿2,455

1-bedroom Apartment, City Center (Monthly)

$464 ฿15.5K

1-bedroom Apartment, Outside City Center (Monthly)

$305 ฿10.2K

3-bedroom Apartment, City Center (Monthly)

$915 ฿30.6K

3-bedroom Apartment, Outside City Center (Monthly)

$552 ฿18.5K

Buy Apartment in City Center (m2)

$1,912 ฿63.9K

Buy Apartment Outside City Center (m2)

$1,438 ฿48.1K

Average Monthly Net Salary (After Tax)

$5,928 ISK 719.0K

$595 ฿19.9K

895.94%

20-Year Fixed Mortgage Interest Rate (Annual %)

5.57

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

Last update for Bakkafjordur: October 11, 2026

Last update for Chiang Mai: October 13, 2026

Monthly budget structure

Share of the monthly basket for one person, rent included.

Accommodation & Living

Bakkafjordur

–

Chiang Mai

$305 32.5%

Groceries & Markets

Bakkafjordur

–

Chiang Mai

$238 25.4%

Clothing & Footwear

Bakkafjordur

–

Chiang Mai

$110 11.7%

Monthly Utilities & Internet

Bakkafjordur

–

Chiang Mai

$95 10.1%

Eating Out

Bakkafjordur

–

Chiang Mai

$79 8.4%

Getting Around

Bakkafjordur

–

Chiang Mai

$61 6.5%

Sport & Entertainment

Bakkafjordur

–

Chiang Mai

$51 5.5%

Cost Breakdown

Salaries run about 896% higher in Bakkafjordur, which reinforces the cost advantage – you earn more and spend less. Purchasing power leans clearly in its favor.

Good to know

🇮🇸 Bakkafjordur

🇹🇭 Chiang Mai

🕒 Local time

00:16 12:16 AM

07:16 7:16 AM

7 h ahead of Bakkafjordur

🌤 Weather

👥 Population

100

127,240

💱 Currency

Icelandic Króna ISK kr

Thai Baht THB ฿

📈 Exchange rate

1,000 ISK = 8.24 USD

1,000 ISK = 7.33 EUR

100 THB = 2.99 USD

100 THB = 2.66 EUR

Exchange rates and currency converter

THB, USD, EUR to ISK – Icelandic Króna Converter

🇺🇸 United States Dollar ($)

🇮🇸 Icelandic Króna (kr)

Icelandic Króna exchange rates as of October 19, 2026: 1 USD = 121 ISK (1,000 ISK = 8.24 USD). 1 EUR = 136 ISK (1,000 ISK = 7.33 EUR).

Thai Baht exchange rates as of October 19, 2026: 1 USD = 33.42 THB (100 THB = 2.99 USD). 1 EUR = 37.57 THB (100 THB = 2.66 EUR).

USD to ISK in detail →

On the map

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Between locations

Bakkafjordur Chiang Mai 9,120 km ≈ 12 h nonstop flight

From you

Bakkafjordur
Chiang Mai

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 Chiang Mai: Cost of Living - Frequently Asked Questions

Chiang Mai costs about 275% more than Bakkafjordur, and outside of rent the gap comes mainly from clothing. That's enough to noticeably affect everyday spending and lifestyle for anyone choosing between the two.

For a comfortable life, plan on about $375 per month in Bakkafjordur and $1,408 in Chiang Mai. 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 $938 in Chiang Mai. That's a gap of about 275%.

Interestingly, groceries are about 5% cheaper in Chiang Mai – one category where the pricier city actually offers better value, probably thanks to stronger retail competition or local farming.

A $1,000 monthly budget goes further in Bakkafjordur, where all-in costs run around $250, than in Chiang Mai at $938. In Bakkafjordur it covers expenses comfortably, while in Chiang Mai it requires careful planning or may not stretch far enough.

For digital nomads, it depends on budget. Bakkafjordur costs $250 versus $938 in Chiang Mai. Both have workable remote work infrastructure, but the cost gap matters when income varies month to month.

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