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

🙂 Solo nomad: Bakkafjordur is 86.2% cheaper than Reykjavik without rent, and 93.6% cheaper with rent.

🙂 Family of 3: Bakkafjordur is 84.6% cheaper than Reykjavik without rent, and 91.7% cheaper with rent.

Meal at Budget Restaurant

$26.70 ISK 3,364

Three-Course Dinner for Two, Mid-Range

$145 ISK 18.2K

Fast Food Meal (McDonalds, etc)

$22.39 ISK 2,820

Cappuccino

$6.06 ISK 764

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

$3.28 ISK 414

Water (0.33 liter bottle)

$2.62 ISK 330

Local Beer (0.5 liter draught)

$13.02 ISK 1,640

Imported Beer (0.33 liter bottle)

$11.28 ISK 1,421

Milk (1 liter)

$1.87 ISK 235

White Bread (500g)

$2.25 ISK 283

$4.32 ISK 544

-47.92%

Rice (white) (1kg)

$2.16 ISK 272

$3.71 ISK 468

-41.78%

Eggs

$4.84 ISK 610

$6.52 ISK 821

-25.77%

Local Cheese (1kg)

$8.77 ISK 1,105

$18.16 ISK 2,288

-51.71%

Chicken Fillets (1kg)

$10.81 ISK 1,362

$23.83 ISK 3,002

-54.64%

Beef Round Steak (1kg)

$11.08 ISK 1,395

$42.83 ISK 5,395

-74.13%

Apples (1kg)

$2.25 ISK 283

$3.37 ISK 424

-33.23%

Banana (1kg)

$2.25 ISK 284

$2.50 ISK 315

-10.00%

Oranges (1kg)

$2.24 ISK 283

$3.03 ISK 382

-26.07%

Tomato (1kg)

$2.16 ISK 272

$4.98 ISK 627

-56.63%

Potato (1kg)

$2.16 ISK 272

$3.66 ISK 461

-40.98%

Onion (1kg)

$2.23 ISK 281

$2.40 ISK 302

-7.08%

Lettuce (1 head)

$0.99 ISK 125

$3.06 ISK 386

-67.65%

Water (1.5 liter bottle)

$1.99 ISK 251

$2.01 ISK 253

-1.00%

Cigarettes 20 Pack (Marlboro, Camel)

$13.82 ISK 1,741

Wine (Bottle)

$23.58 ISK 2,971

Local Beer (0.5 liter bottle)

$3.55 ISK 447

Imported Beer (0.33 liter bottle)

$3.24 ISK 408

One-way Ticket (Public Transport)

$5.19 ISK 654

Public Transport Monthly Pass (Regular Price)

$87.7 ISK 11.0K

Taxi Start (Normal Tariff)

$6.18 ISK 778

Taxi (Normal Tariff) (1km)

$2.64 ISK 333

Taxi 1hour Waiting (Normal Tariff)

$87.3 ISK 11.0K

Gasoline (1 liter)

$2.56 ISK 322

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

$48.0K ISK 6.0M

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

$52.5K ISK 6.6M

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

$88.6 ISK 11.2K

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

$27.96 ISK 3,522

Internet (50+ Mbps, Unlimited Data)

$84.7 ISK 10.7K

Gym Membership (Monthly)

$81.7 ISK 10.3K

Tennis Court (1 Hour on Weekend)

$38.00 ISK 4,786

Cinema Ticket

$17.53 ISK 2,208

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

$316 ISK 39.7K

International Primary School, 1 Child (Yearly)

$30.1K ISK 3.8M

Jeans (Levis 501 Or Similar)

$140 ISK 17.6K

Summer Dress (H&M, Zara, etc)

$62.4 ISK 7,863

Sport Shoes (Adidas, Nike)

$182 ISK 22.9K

Men's Leather Business Shoes

$264 ISK 33.2K

1-bedroom Apartment, City Center (Monthly)

$2,225 ISK 280.3K

1-bedroom Apartment, Outside City Center (Monthly)

$2,047 ISK 257.9K

3-bedroom Apartment, City Center (Monthly)

$3,154 ISK 397.3K

3-bedroom Apartment, Outside City Center (Monthly)

$2,691 ISK 339.0K

Buy Apartment in City Center (m2)

$7,541 ISK 949.9K

Buy Apartment Outside City Center (m2)

$6,257 ISK 788.1K

Average Monthly Net Salary (After Tax)

$5,889 ISK 741.8K

$4,489 ISK 565.5K

31.18%

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: January 13, 2026

Last update for Reykjavik: January 10, 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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