Cost of Living Comparison Between Bakkafjordur and Selfoss Cost of Living Comparison Between Bakkafjordur and Selfoss

Monthly Cost of Living

A single person spends $243 per month in Bakkafjordur vs $3,570 in Selfoss, rent included.

A couple spends around $415 per month in Bakkafjordur vs $2,495 in Selfoss, rent included.

A family of three spends $587 per month in Bakkafjordur vs $1,420 in Selfoss, rent included.

Bakkafjordur is about 93% cheaper than Selfoss, driven mainly by Groceries & Markets.

Bakkafjordur sits 82% below the global median, while Selfoss is 166% above – they fall on opposite sides of the world average.

Fast Food Meal (McDonalds, etc)

$20.29 ISK 2,498

Local Beer (0.5 liter draught)

$11.95 ISK 1,471

Milk (1 liter)

$1.72 ISK 212

White Bread (500g)

$2.18 ISK 269

$7.35 ISK 906

-70.34%

Rice (white) (1kg)

$2.22 ISK 273

$4.47 ISK 550

-50.34%

Eggs

$4.67 ISK 575

$6.25 ISK 769

-25.28%

Local Cheese (1kg)

$8.77 ISK 1,080

$16.79 ISK 2,067

-47.77%

Chicken Fillets (1kg)

$11.20 ISK 1,379

$21.12 ISK 2,601

-46.97%

Beef Round Steak (1kg)

$10.98 ISK 1,353

$32.72 ISK 4,029

-66.44%

Apples (1kg)

$2.17 ISK 267

$2.77 ISK 342

-21.66%

Banana (1kg)

$2.26 ISK 278

$2.57 ISK 317

-12.06%

Oranges (1kg)

$2.16 ISK 266

$2.72 ISK 335

-20.59%

Tomato (1kg)

$2.16 ISK 266

$7.27 ISK 895

-70.29%

Potato (1kg)

$2.23 ISK 275

$3.04 ISK 374

-26.64%

Onion (1kg)

$2.18 ISK 269

$2.03 ISK 250

7.39%

Lettuce (1 head)

$1.01 ISK 125

$3.43 ISK 422

-70.55%

Water (1.5 liter bottle)

$1.98 ISK 244

$1.38 ISK 170

43.48%

Cigarettes 20 Pack (Marlboro, Camel)

$15.40 ISK 1,896

Imported Beer (0.33 liter bottle)

$1.13 ISK 139

1-bedroom Apartment, Outside City Center (Monthly)

$2,924 ISK 360.1K

Average Monthly Net Salary (After Tax)

$5,902 ISK 726.8K

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

Last update for Bakkafjordur: June 2, 2026

Last update for Selfoss: May 30, 2026

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 1368% more than Bakkafjordur, with the gap driven mainly by Groceries & Markets. That's enough to noticeably affect everyday spending and lifestyle for anyone choosing between the two.

For a comfortable life, plan on about $365 per month in Bakkafjordur and $5,355 in Selfoss. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Monthly expenses with rent come to $243 in Bakkafjordur and $3,570 in Selfoss. The difference isn't just one category – it shows up across housing, food, transport, and services.

Groceries cost about 106% 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 $243 in Bakkafjordur and $3,570 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.