Cost of Living Comparison Between Bakkafjordur and Reykjavik Cost of Living Comparison Between Bakkafjordur and Reykjavik

🙂 Solo nomad: Bakkafjordur is 85.4% cheaper than Reykjavik without rent, and 93.6% cheaper with rent.

🙂 Family of 3: Bakkafjordur is 86.8% cheaper than Reykjavik without rent, and 91.7% cheaper with rent.

Meal at Budget Restaurant

$27.22 ISK 3,382

Three-Course Dinner for Two, Mid-Range

$145 ISK 18.0K

Fast Food Meal (McDonalds, etc)

$22.41 ISK 2,784

Cappuccino

$5.94 ISK 739

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

$3.26 ISK 405

Water (0.33 liter bottle)

$2.54 ISK 316

Local Beer (0.5 liter draught)

$12.83 ISK 1,595

Imported Beer (0.33 liter bottle)

$11.46 ISK 1,424

Milk (1 liter)

$1.88 ISK 234

White Bread (500g)

$2.26 ISK 280

$4.33 ISK 538

-47.81%

Rice (white) (1kg)

$2.18 ISK 271

$3.57 ISK 444

-38.94%

Eggs

$4.94 ISK 613

$6.56 ISK 815

-24.70%

Local Cheese (1kg)

$8.72 ISK 1,084

$18.18 ISK 2,259

-52.04%

Chicken Fillets (1kg)

$11.03 ISK 1,371

$24.52 ISK 3,047

-55.02%

Beef Round Steak (1kg)

$11.16 ISK 1,387

$42.03 ISK 5,224

-73.45%

Apples (1kg)

$2.26 ISK 281

$3.20 ISK 397

-29.38%

Banana (1kg)

$2.24 ISK 279

$2.42 ISK 300

-7.44%

Oranges (1kg)

$2.18 ISK 271

$3.06 ISK 380

-28.76%

Tomato (1kg)

$2.14 ISK 266

$4.86 ISK 604

-55.97%

Potato (1kg)

$2.24 ISK 279

$3.66 ISK 455

-38.80%

Onion (1kg)

$2.14 ISK 266

$2.34 ISK 291

-8.55%

Lettuce (1 head)

$0.99 ISK 123

$3.14 ISK 390

-68.47%

Water (1.5 liter bottle)

$2.02 ISK 250

$2.02 ISK 251

Cigarettes 20 Pack (Marlboro, Camel)

$13.91 ISK 1,729

Wine (Bottle)

$23.74 ISK 2,950

Local Beer (0.5 liter bottle)

$3.69 ISK 459

Imported Beer (0.33 liter bottle)

$3.23 ISK 401

One-way Ticket (Public Transport)

$5.29 ISK 657

Public Transport Monthly Pass (Regular Price)

$88.2 ISK 11.0K

Taxi Start (Normal Tariff)

$6.54 ISK 813

Taxi (Normal Tariff) (1km)

$2.60 ISK 323

Taxi 1hour Waiting (Normal Tariff)

$85.8 ISK 10.7K

Gasoline (1 liter)

$2.51 ISK 313

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

$47.1K ISK 5.9M

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

$52.6K ISK 6.5M

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

$89.2 ISK 11.1K

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

$27.07 ISK 3,364

Internet (50+ Mbps, Unlimited Data)

$84.2 ISK 10.5K

Gym Membership (Monthly)

$84.0 ISK 10.4K

Tennis Court (1 Hour on Weekend)

$38.09 ISK 4,733

Cinema Ticket

$17.42 ISK 2,165

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

$324 ISK 40.2K

International Primary School, 1 Child (Yearly)

$30.5K ISK 3.8M

Jeans (Levis 501 Or Similar)

$141 ISK 17.6K

Summer Dress (H&M, Zara, etc)

$62.6 ISK 7,783

Sport Shoes (Adidas, Nike)

$183 ISK 22.8K

Men's Leather Business Shoes

$268 ISK 33.3K

1-bedroom Apartment, City Center (Monthly)

$2,197 ISK 273.0K

1-bedroom Apartment, Outside City Center (Monthly)

$2,053 ISK 255.2K

3-bedroom Apartment, City Center (Monthly)

$3,159 ISK 392.5K

3-bedroom Apartment, Outside City Center (Monthly)

$2,728 ISK 339.1K

Buy Apartment in City Center (m2)

$7,833 ISK 973.4K

Buy Apartment Outside City Center (m2)

$6,268 ISK 779.0K

Average Monthly Net Salary (After Tax)

$5,875 ISK 730.1K

$4,471 ISK 555.6K

31.41%

20-Year Fixed Mortgage Interest Rate (Annual %)

9.63

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

Last update for Bakkafjordur: March 2, 2026

Last update for Reykjavik: March 3, 2026

City Median Internet Speeds Comparison (Updated December 2025)

The chart highlights the Precision Threshold for mobile and fixed broadband internet speeds, updated quarterly.

Digital Nomad Cost of Living Index

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