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

Monthly Cost of Living

A single person spends $251 per month in Bakkafjordur vs $3,559 in Selfoss, rent included.

A couple spends around $427 per month in Bakkafjordur vs $2,492 in Selfoss, rent included.

A family of three spends $602 per month in Bakkafjordur vs $1,424 in Selfoss, rent included.

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

Bakkafjordur sits 81% below the global median, while Selfoss is 166% above – they fall on opposite sides of the world average.

Fast Food Meal (McDonalds, etc)

$19.97 ISK 2,488

Local Beer (0.5 liter draught)

$11.83 ISK 1,474

Milk (1 liter)

$1.69 ISK 210

White Bread (500g)

$2.24 ISK 280

$7.51 ISK 936

-70.17%

Rice (white) (1kg)

$2.15 ISK 268

$4.32 ISK 538

-50.23%

Eggs

$4.83 ISK 602

$6.46 ISK 806

-25.23%

Local Cheese (1kg)

$9.01 ISK 1,122

$16.56 ISK 2,064

-45.59%

Chicken Fillets (1kg)

$11.19 ISK 1,395

$20.80 ISK 2,591

-46.20%

Beef Round Steak (1kg)

$10.86 ISK 1,353

$33.49 ISK 4,173

-67.57%

Apples (1kg)

$2.25 ISK 280

$2.63 ISK 328

-14.45%

Banana (1kg)

$2.18 ISK 271

$2.55 ISK 317

-14.51%

Oranges (1kg)

$2.14 ISK 267

$2.67 ISK 333

-19.85%

Tomato (1kg)

$2.23 ISK 278

$6.98 ISK 870

-68.05%

Potato (1kg)

$2.19 ISK 273

$3.22 ISK 401

-31.99%

Onion (1kg)

$2.24 ISK 280

$2.02 ISK 252

10.89%

Lettuce (1 head)

$1.02 ISK 127

$3.51 ISK 438

-70.94%

Water (1.5 liter bottle)

$2.02 ISK 252

$1.38 ISK 172

46.38%

Cigarettes 20 Pack (Marlboro, Camel)

$14.97 ISK 1,866

Imported Beer (0.33 liter bottle)

$1.10 ISK 137

1-bedroom Apartment, Outside City Center (Monthly)

$2,927 ISK 364.7K

Average Monthly Net Salary (After Tax)

$5,788 ISK 721.1K

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

Last update for Bakkafjordur: July 13, 2026

Last update for Selfoss: July 12, 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 1320% 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 $376 per month in Bakkafjordur and $5,339 in Selfoss. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Monthly expenses with rent come to $251 in Bakkafjordur and $3,559 in Selfoss. The difference isn't just one category – it shows up across housing, food, transport, and services.

Groceries cost about 104% 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 $251 in Bakkafjordur and $3,559 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.