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

Meal at Budget Restaurant

$29.03 ISK 3,528

Three-Course Dinner for Two, Mid-Range

$133 ISK 16.2K

Fast Food Meal (McDonalds, etc)

$26.15 ISK 3,177

Cappuccino

$6.64 ISK 806

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

$3.23 ISK 393

Water (0.33 liter bottle)

$3.18 ISK 386

Local Beer (0.5 liter draught)

$13.53 ISK 1,644

Imported Beer (0.33 liter bottle)

$12.41 ISK 1,508

Milk (1 liter)

$2.08 ISK 253

White Bread (500g)

$4.20 ISK 511

Rice (white) (1kg)

$3.53 ISK 429

Eggs

$7.27 ISK 883

Local Cheese (1kg)

$20.68 ISK 2,513

Chicken Fillets (1kg)

$24.10 ISK 2,929

Beef Round Steak (1kg)

$40.84 ISK 4,961

Apples (1kg)

$3.42 ISK 415

Banana (1kg)

$2.82 ISK 343

Oranges (1kg)

$3.16 ISK 384

Tomato (1kg)

$6.30 ISK 765

Potato (1kg)

$3.92 ISK 476

Onion (1kg)

$1.69 ISK 205

Lettuce (1 head)

$3.39 ISK 412

Water (1.5 liter bottle)

$1.73 ISK 210

Cigarettes 20 Pack (Marlboro, Camel)

$13.76 ISK 1,671

Wine (Bottle)

$24.05 ISK 2,922

Local Beer (0.5 liter bottle)

$3.61 ISK 439

Imported Beer (0.33 liter bottle)

$3.35 ISK 407

One-way Ticket (Public Transport)

$5.70 ISK 693

Public Transport Monthly Pass (Regular Price)

$90.7 ISK 11.0K

Taxi Start (Normal Tariff)

$6.76 ISK 822

Taxi (Normal Tariff) (1km)

$2.79 ISK 339

Taxi 1hour Waiting (Normal Tariff)

$72.7 ISK 8,830

Gasoline (1 liter)

$2.04 ISK 248

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

$50.7K ISK 6.2M

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

$54.3K ISK 6.6M

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

$87.2 ISK 10.6K

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

$32.62 ISK 3,963

Internet (50+ Mbps, Unlimited Data)

$85.2 ISK 10.4K

Gym Membership (Monthly)

$97.4 ISK 11.8K

Tennis Court (1 Hour on Weekend)

$48.73 ISK 5,921

Cinema Ticket

$19.87 ISK 2,414

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

$1,128 ISK 137.1K

International Primary School, 1 Child (Yearly)

$30.2K ISK 3.7M

Jeans (Levis 501 Or Similar)

$154 ISK 18.7K

Summer Dress (H&M, Zara, etc)

$66.5 ISK 8,079

Sport Shoes (Adidas, Nike)

$191 ISK 23.2K

Men's Leather Business Shoes

$244 ISK 29.6K

1-bedroom Apartment, City Center (Monthly)

$2,471 ISK 300.2K

1-bedroom Apartment, Outside City Center (Monthly)

$2,055 ISK 249.7K

3-bedroom Apartment, City Center (Monthly)

$3,400 ISK 413.1K

3-bedroom Apartment, Outside City Center (Monthly)

$2,720 ISK 330.5K

Buy Apartment in City Center (m2)

$8,029 ISK 975.5K

Buy Apartment Outside City Center (m2)

$6,365 ISK 773.4K

Average Monthly Net Salary (After Tax)

$4,758 ISK 578.1K

20-Year Fixed Mortgage Interest Rate (Annual %)

9.1

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

Last update for Bolungarvik: August 18, 2026

Last update for Reykjavik: August 16, 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.