Last update: Oct 2026

Cost of Living Comparison Between Bakkafjordur and Selfoss

For one person, living is cheaper in Bakkafjordur: $250 a month against $3,423 in Selfoss, rent and utilities included – about $38,100 less a year. Rent and utilities account for most of the difference.

Jump to prices

Bakkafjordur

🇮🇸 Iceland

$250

/mo nomad

Selfoss

🇮🇸 Iceland

$3,423

/mo nomad

Monthly Cost of Living

How much you'll spend in Bakkafjordur and in Selfoss

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

A single person spends $250 per month in Bakkafjordur vs $3,423 in Selfoss, rent included.

Bakkafjordur $250
Selfoss $3,423

A couple spends around $427 per month in Bakkafjordur vs $2,440 in Selfoss, rent included.

Bakkafjordur $427
Selfoss $2,440

A family of three spends $604 per month in Bakkafjordur vs $1,458 in Selfoss, rent included.

Bakkafjordur $604
Selfoss $1,458

Bakkafjordur is about 93% cheaper than Selfoss, and outside of rent the biggest gap is in groceries.

Bakkafjordur sits 81% below the global median, while Selfoss is 154% above – they fall on opposite sides of the world average.

Fast Food Meal (McDonalds, etc)

$20.48 ISK 2,484

Local Beer (0.5 liter draught)

$12.21 ISK 1,481

Milk (1 liter)

$1.76 ISK 213

White Bread (500g)

$2.26 ISK 275

$7.60 ISK 922

-70.26%

Rice (white) (1kg)

$2.17 ISK 263

$4.49 ISK 544

-51.67%

Eggs

$4.88 ISK 591

$6.43 ISK 780

-24.11%

Local Cheese (1kg)

$8.91 ISK 1,081

$17.36 ISK 2,105

-48.68%

Chicken Fillets (1kg)

$11.17 ISK 1,355

$21.64 ISK 2,624

-48.38%

Beef Round Steak (1kg)

$11.19 ISK 1,357

$33.84 ISK 4,105

-66.93%

Apples (1kg)

$2.22 ISK 269

$2.70 ISK 327

-17.78%

Banana (1kg)

$2.25 ISK 273

$2.60 ISK 316

-13.46%

Oranges (1kg)

$2.22 ISK 269

$2.64 ISK 320

-15.91%

Tomato (1kg)

$2.19 ISK 265

$7.07 ISK 857

-69.02%

Potato (1kg)

$2.18 ISK 264

$3.27 ISK 396

-33.33%

Onion (1kg)

$2.24 ISK 272

$2.18 ISK 265

2.75%

Lettuce (1 head)

$1.02 ISK 124

$3.58 ISK 435

-71.51%

Water (1.5 liter bottle)

$1.97 ISK 238

$1.37 ISK 166

43.80%

Cigarettes 20 Pack (Marlboro, Camel)

$15.69 ISK 1,903

Imported Beer (0.33 liter bottle)

$1.16 ISK 141

1-bedroom Apartment, Outside City Center (Monthly)

$2,779 ISK 337.1K

Average Monthly Net Salary (After Tax)

$5,928 ISK 719.0K

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

Last update for Bakkafjordur: October 11, 2026

Last update for Selfoss: October 11, 2026

Good to know

🇮🇸 Bakkafjordur

🇮🇸 Selfoss

🕒 Local time

01:03 1:03 AM

Same time as Bakkafjordur

🌤 Weather

👥 Population

100

9,000

💱 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 Selfoss 370 km

From you

Bakkafjordur
Selfoss

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 Selfoss: Cost of Living - Frequently Asked Questions

Selfoss costs about 1269% more than Bakkafjordur, and outside of rent the gap comes mainly from groceries. 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 $5,135 in Selfoss. 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 $3,423 in Selfoss. That's a gap of about 1269%.

Groceries cost about 108% more in Selfoss, though it depends on what you buy. Local produce may be comparable; imported and premium items show the biggest price gap.

$800 covers both cities comfortably – all-in costs are $250 in Bakkafjordur and $3,423 in Selfoss, leaving budget for savings and extras in both cases.

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