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

🙂 Solo nomad: Bakkafjordur is 85.9% cheaper than Reykjavik without rent, and 93.5% cheaper with rent.

🙂 Family of 3: Bakkafjordur is 88.1% cheaper than Reykjavik without rent, and 91.6% cheaper with rent.

Meal at Budget Restaurant

$26.9 ISK 3,355

Three-Course Dinner for Two, Mid-Range

$146 ISK 18.3K

Fast Food Meal (McDonalds, etc)

$22.18 ISK 2,767

Cappuccino

$6.08 ISK 758

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

$3.4 ISK 424

Water (0.33 liter bottle)

$2.5 ISK 312

Local Beer (0.5 liter draught)

$12.96 ISK 1,617

Imported Beer (0.33 liter bottle)

$11.05 ISK 1,379

Milk (1 liter)

$1.88 ISK 234

White Bread (500g)

$2.26 ISK 282

$4.26 ISK 531

-46.95%

Rice (white) (1kg)

$2.18 ISK 272

$3.67 ISK 458

-40.60%

Eggs

$4.89 ISK 610

$6.51 ISK 813

-24.88%

Local Cheese (1kg)

$8.97 ISK 1,119

$17.83 ISK 2,224

-49.69%

Chicken Fillets (1kg)

$11.05 ISK 1,378

$24.1 ISK 3,006

-54.15%

Beef Round Steak (1kg)

$10.94 ISK 1,365

$43.22 ISK 5,391

-74.69%

Apples (1kg)

$2.22 ISK 277

$3.19 ISK 397

-30.41%

Banana (1kg)

$2.16 ISK 269

$2.54 ISK 317

-14.96%

Oranges (1kg)

$2.26 ISK 282

$3.09 ISK 386

-26.86%

Tomato (1kg)

$2.15 ISK 268

$5.03 ISK 628

-57.26%

Potato (1kg)

$2.15 ISK 269

$3.59 ISK 447

-40.11%

Onion (1kg)

$2.21 ISK 276

$2.4 ISK 300

-7.92%

Lettuce (1 head)

$1.01 ISK 126

$3.08 ISK 384

-67.21%

Water (1.5 liter bottle)

$2.06 ISK 257

$2.01 ISK 250

2.49%

Cigarettes 20 Pack (Marlboro, Camel)

$13.9 ISK 1,734

Wine (Bottle)

$23.87 ISK 2,978

Local Beer (0.5 liter bottle)

$3.62 ISK 452

Imported Beer (0.33 liter bottle)

$3.32 ISK 414

One-way Ticket (Public Transport)

$5.27 ISK 658

Public Transport Monthly Pass (Regular Price)

$86.4 ISK 10.8K

Taxi Start (Normal Tariff)

$6.26 ISK 781

Taxi (Normal Tariff) (1km)

$2.53 ISK 316

Taxi 1hour Waiting (Normal Tariff)

$85.2 ISK 10.6K

Gasoline (1 liter)

$2.57 ISK 321

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

$47.8K ISK 6M

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

$52.4K ISK 6.5M

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

$86.5 ISK 10.8K

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

$26.91 ISK 3,357

Internet (50+ Mbps, Unlimited Data)

$84.9 ISK 10.6K

Gym Membership (Monthly)

$82.7 ISK 10.3K

Tennis Court (1 Hour on Weekend)

$38.2 ISK 4,765

Cinema Ticket

$17.83 ISK 2,225

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

$318 ISK 39.7K

International Primary School, 1 Child (Yearly)

$29.9K ISK 3.7M

Jeans (Levis 501 Or Similar)

$141 ISK 17.6K

Summer Dress (H&M, Zara, etc)

$62.4 ISK 7,785

Sport Shoes (Adidas, Nike)

$183 ISK 22.9K

Men's Leather Business Shoes

$267 ISK 33.3K

1-bedroom Apartment, City Center (Monthly)

$2,179 ISK 271.8K

1-bedroom Apartment, Outside City Center (Monthly)

$2,000 ISK 249.6K

3-bedroom Apartment, City Center (Monthly)

$3,152 ISK 393.2K

3-bedroom Apartment, Outside City Center (Monthly)

$2,726 ISK 340.1K

Buy Apartment in City Center (m2)

$7,821 ISK 975.7K

Buy Apartment Outside City Center (m2)

$6,501 ISK 811K

Average Monthly Net Salary (After Tax)

$5,942 ISK 741.2K

$4,376 ISK 546K

35.77%

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: October 28, 2025

Last update for Reykjavik: October 28, 2025

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