Cost of Living Comparison Between Bolungarvik and Reykjavik Cost of Living Comparison Between Bolungarvik and Reykjavik

Meal at Budget Restaurant

$26.55 ISK 3,252

Three-Course Dinner for Two, Mid-Range

$144 ISK 17.6K

Fast Food Meal (McDonalds, etc)

$22.87 ISK 2,801

Cappuccino

$5.98 ISK 732

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

$3.23 ISK 396

Water (0.33 liter bottle)

$2.55 ISK 312

Local Beer (0.5 liter draught)

$13.06 ISK 1,599

Imported Beer (0.33 liter bottle)

$11.07 ISK 1,356

Milk (1 liter)

$1.87 ISK 229

White Bread (500g)

$4.33 ISK 530

Rice (white) (1kg)

$3.63 ISK 444

Eggs

$6.51 ISK 797

Local Cheese (1kg)

$18.39 ISK 2,252

Chicken Fillets (1kg)

$24.53 ISK 3,005

Beef Round Steak (1kg)

$43.02 ISK 5,269

Apples (1kg)

$3.26 ISK 399

Banana (1kg)

$2.42 ISK 297

Oranges (1kg)

$3.04 ISK 372

Tomato (1kg)

$5.08 ISK 622

Potato (1kg)

$3.57 ISK 438

Onion (1kg)

$2.40 ISK 294

Lettuce (1 head)

$3.10 ISK 379

Water (1.5 liter bottle)

$2.00 ISK 245

Cigarettes 20 Pack (Marlboro, Camel)

$13.44 ISK 1,646

Wine (Bottle)

$23.20 ISK 2,842

Local Beer (0.5 liter bottle)

$3.73 ISK 456

Imported Beer (0.33 liter bottle)

$3.37 ISK 413

One-way Ticket (Public Transport)

$5.34 ISK 654

Public Transport Monthly Pass (Regular Price)

$87.5 ISK 10.7K

Taxi Start (Normal Tariff)

$6.27 ISK 768

Taxi (Normal Tariff) (1km)

$2.56 ISK 313

Taxi 1hour Waiting (Normal Tariff)

$87.5 ISK 10.7K

Gasoline (1 liter)

$2.48 ISK 303

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

$47.6K ISK 5.8M

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

$51.8K ISK 6.3M

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

$88.4 ISK 10.8K

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

$27.80 ISK 3,405

Internet (50+ Mbps, Unlimited Data)

$85.6 ISK 10.5K

Gym Membership (Monthly)

$83.2 ISK 10.2K

Tennis Court (1 Hour on Weekend)

$37.45 ISK 4,587

Cinema Ticket

$17.88 ISK 2,190

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

$322 ISK 39.5K

International Primary School, 1 Child (Yearly)

$30.5K ISK 3.7M

Jeans (Levis 501 Or Similar)

$141 ISK 17.2K

Summer Dress (H&M, Zara, etc)

$62.2 ISK 7,612

Sport Shoes (Adidas, Nike)

$179 ISK 22.0K

Men's Leather Business Shoes

$261 ISK 31.9K

1-bedroom Apartment, City Center (Monthly)

$2,244 ISK 274.8K

1-bedroom Apartment, Outside City Center (Monthly)

$2,065 ISK 252.9K

3-bedroom Apartment, City Center (Monthly)

$3,173 ISK 388.6K

3-bedroom Apartment, Outside City Center (Monthly)

$2,734 ISK 334.9K

Buy Apartment in City Center (m2)

$7,787 ISK 953.7K

Buy Apartment Outside City Center (m2)

$6,505 ISK 796.7K

Average Monthly Net Salary (After Tax)

$4,496 ISK 550.6K

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 Bolungarvik: April 27, 2026

Last update for Reykjavik: April 26, 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

Bolungarvik vs Reykjavik: Cost of Living - Frequently Asked Questions

Families tend to lean toward Bolungarvik – 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 Bolungarvik. If higher salaries, better infrastructure, or specific career opportunities are the priority, Reykjavik makes more sense. Both are solid long-term options with distinct trade-offs.