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

Monthly Cost of Living

A single person spends $245 per month in Bakkafjordur vs $3,532 in Selfoss, rent included.

A couple spends around $417 per month in Bakkafjordur vs $2,484 in Selfoss, rent included.

A family of three spends $590 per month in Bakkafjordur vs $1,437 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 157% above – they fall on opposite sides of the world average.

Fast Food Meal (McDonalds, etc)

$20.68 ISK 2,506

Local Beer (0.5 liter draught)

$12.61 ISK 1,529

Milk (1 liter)

$1.73 ISK 209

White Bread (500g)

$2.26 ISK 273

$7.63 ISK 925

-70.38%

Rice (white) (1kg)

$2.25 ISK 273

$4.43 ISK 537

-49.21%

Eggs

$4.90 ISK 593

$6.36 ISK 770

-22.96%

Local Cheese (1kg)

$8.69 ISK 1,053

$17.11 ISK 2,073

-49.21%

Chicken Fillets (1kg)

$11.23 ISK 1,360

$21.32 ISK 2,583

-47.33%

Beef Round Steak (1kg)

$10.92 ISK 1,323

$33.82 ISK 4,098

-67.71%

Apples (1kg)

$2.23 ISK 270

$2.72 ISK 329

-18.01%

Banana (1kg)

$2.22 ISK 269

$2.69 ISK 326

-17.47%

Oranges (1kg)

$2.25 ISK 273

$2.70 ISK 327

-16.67%

Tomato (1kg)

$2.16 ISK 262

$7.46 ISK 904

-71.05%

Potato (1kg)

$2.25 ISK 273

$3.23 ISK 392

-30.34%

Onion (1kg)

$2.25 ISK 273

$2.08 ISK 252

8.17%

Lettuce (1 head)

$1.01 ISK 122

$3.65 ISK 442

-72.33%

Water (1.5 liter bottle)

$1.99 ISK 241

$1.41 ISK 170

41.13%

Cigarettes 20 Pack (Marlboro, Camel)

$15.32 ISK 1,856

Imported Beer (0.33 liter bottle)

$1.18 ISK 143

1-bedroom Apartment, Outside City Center (Monthly)

$2,961 ISK 358.8K

Average Monthly Net Salary (After Tax)

$5,847 ISK 708.6K

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

Last update for Bakkafjordur: August 30, 2026

Last update for Selfoss: August 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 1344% 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 $367 per month in Bakkafjordur and $5,298 in Selfoss. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Monthly expenses with rent come to $245 in Bakkafjordur and $3,532 in Selfoss. The difference isn't just one category – it shows up across housing, food, transport, and services.

Groceries cost about 109% 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 $245 in Bakkafjordur and $3,532 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.