Last update: Oct 2026

Cost of Living Comparison Between Cebu and Akureyri

For one person, living is cheaper in Cebu: $934 a month against $3,060 in Akureyri, rent and utilities included – about $25,500 less a year. Rent and utilities account for most of the difference.

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Cost of Living Index in Cebu
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Cebu Living Index

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Cebu

🇵🇭 Philippines

$934

/mo nomad

Akureyri

🇮🇸 Iceland

$3,060

/mo nomad

Monthly Cost of Living

How much you'll spend in Cebu and in Akureyri

Real prices from locals and on-the-ground checks – rent, groceries, transit and the daily extras. Here's what a month in Cebu and in Akureyri actually costs, broken down by who's living it.

A single person spends $934 per month in Cebu vs $3,060 in Akureyri, rent included.

Cebu $934
Akureyri $3,060

A couple spends around $1,415 per month in Cebu vs $4,123 in Akureyri, rent included.

Cebu $1,415
Akureyri $4,123

A family of three spends $1,896 per month in Cebu vs $5,186 in Akureyri, rent included.

Cebu $1,896
Akureyri $5,186

Cebu is about 69% cheaper than Akureyri, and outside of rent the biggest gap is in eating out.

Cebu sits 30% below the global median, while Akureyri is 128% above – they fall on opposite sides of the world average.

Meal at Budget Restaurant

$3.03 ₱190

$24.64 ISK 3,004

-87.70%

Three-Course Dinner for Two, Mid-Range

$23.48 ₱1,473

$133 ISK 16.2K

-82.35%

Fast Food Meal (McDonalds, etc)

$4.09 ₱256

$22.95 ISK 2,799

-82.18%

Cappuccino

$2.52 ₱158

$4.93 ISK 602

-48.88%

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

$1.54 ₱96.9

$3.44 ISK 420

-55.23%

Water (0.33 liter bottle)

$0.49 ₱30.98

$3.12 ISK 381

-84.29%

Local Beer (0.5 liter draught)

$1.79 ₱112

$11.08 ISK 1,352

-83.84%

Imported Beer (0.33 liter bottle)

$2.26 ₱142

$9.43 ISK 1,150

-76.03%

Milk (1 liter)

$1.95 ₱122

$2.77 ISK 338

-29.60%

White Bread (500g)

$1.43 ₱89.7

$2.30 ISK 280

-37.83%

Rice (white) (1kg)

$1.02 ₱63.8

$3.18 ISK 388

-67.92%

Eggs

$2.06 ₱129

$7.93 ISK 967

-74.02%

Local Cheese (1kg)

$9.81 ₱615

$15.52 ISK 1,892

-36.79%

Chicken Fillets (1kg)

$4.61 ₱289

$24.79 ISK 3,024

-81.40%

Beef Round Steak (1kg)

$7.70 ₱483

Apples (1kg)

$3.31 ₱207

Banana (1kg)

$1.45 ₱90.9

$2.91 ISK 355

-50.17%

Oranges (1kg)

$2.36 ₱148

$3.49 ISK 426

-32.38%

Tomato (1kg)

$1.54 ₱96.4

$5.89 ISK 719

-73.85%

Potato (1kg)

$2.36 ₱148

Onion (1kg)

$1.99 ₱125

Lettuce (1 head)

$1.15 ₱72.1

Water (1.5 liter bottle)

$0.67 ₱42.15

Cigarettes 20 Pack (Marlboro, Camel)

$3.00 ₱188

$13.61 ISK 1,660

-77.96%

Wine (Bottle)

$6.35 ₱398

Local Beer (0.5 liter bottle)

$1.31 ₱81.9

Imported Beer (0.33 liter bottle)

$1.73 ₱108

One-way Ticket (Public Transport)

$0.25 ₱15.78

Public Transport Monthly Pass (Regular Price)

$12.65 ₱793

Taxi Start (Normal Tariff)

$0.74 ₱46.32

Taxi (Normal Tariff) (1km)

$0.21 ₱13.11

Taxi 1hour Waiting (Normal Tariff)

$4.33 ₱271

Gasoline (1 liter)

$1.33 ₱83.5

$2.52 ISK 307

-47.22%

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

$21.8K ₱1.4M

$41.1K ISK 5.0M

-47.08%

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

$19.4K ₱1.2M

$66.4K ISK 8.1M

-70.80%

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

$121 ₱7,563

$124 ISK 15.1K

-2.59%

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

$14.45 ₱907

$26.03 ISK 3,174

-44.49%

Internet (50+ Mbps, Unlimited Data)

$28.29 ₱1,774

$162 ISK 19.7K

-82.51%

Gym Membership (Monthly)

$32.68 ₱2,050

$86.8 ISK 10.6K

-62.33%

Tennis Court (1 Hour on Weekend)

$6.39 ₱401

Cinema Ticket

$5.46 ₱342

$15.18 ISK 1,852

-64.03%

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

$273 ₱17.1K

$364 ISK 44.3K

-24.80%

International Primary School, 1 Child (Yearly)

$8,156 ₱511.5K

Jeans (Levis 501 Or Similar)

$49.57 ₱3,109

$82.6 ISK 10.1K

-40.00%

Summer Dress (H&M, Zara, etc)

$24.87 ₱1,560

Sport Shoes (Adidas, Nike)

$76.6 ₱4,804

$123 ISK 15.0K

-37.80%

Men's Leather Business Shoes

$59.3 ₱3,717

1-bedroom Apartment, City Center (Monthly)

$506 ₱31.7K

$1,800 ISK 219.5K

-71.90%

1-bedroom Apartment, Outside City Center (Monthly)

$309 ₱19.4K

$1,787 ISK 217.9K

-82.68%

3-bedroom Apartment, City Center (Monthly)

$1,052 ₱66.0K

3-bedroom Apartment, Outside City Center (Monthly)

$619 ₱38.8K

$2,153 ISK 262.6K

-71.25%

Buy Apartment in City Center (m2)

$2,915 ₱182.9K

$6,605 ISK 805.5K

-55.86%

Buy Apartment Outside City Center (m2)

$1,867 ₱117.1K

$6,467 ISK 788.7K

-71.13%

Average Monthly Net Salary (After Tax)

$341 ₱21.4K

20-Year Fixed Mortgage Interest Rate (Annual %)

7.2

9.4

-23.40%

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

Last update for Cebu: October 5, 2026

Last update for Akureyri: October 4, 2026

Monthly budget structure

Share of the monthly basket for one person, rent included.

Accommodation & Living

Cebu

$309 33.5%

Akureyri

–

Groceries & Markets

Cebu

$210 22.7%

Akureyri

–

Monthly Utilities & Internet

Cebu

$163 17.7%

Akureyri

–

Clothing & Footwear

Cebu

$95 10.2%

Akureyri

–

Eating Out

Cebu

$88 9.6%

Akureyri

–

Sport & Entertainment

Cebu

$44 4.7%

Akureyri

–

Getting Around

Cebu

$15 1.7%

Akureyri

–

Cost Breakdown

A central one-bedroom costs $506 in Cebu versus $1,800 in Akureyri. Rent is usually the largest line item in a monthly budget, so the gap here sets the tone for the overall comparison.

A mid-range dinner for two costs $23.00 in Cebu versus $133 in Akureyri. Monthly groceries follow the same trend: $210 vs $327 – making Cebu the more affordable choice for daily food spending.

Good to know

🇵🇭 Cebu

🇮🇸 Akureyri

🕒 Local time

19:49 7:49 PM

11:49 11:49 AM

8 h behind Cebu

🌤 Weather

👥 Population

964,169

19,219

💱 Currency

Philippine Peso PHP ₱

Icelandic Króna ISK kr

📈 Exchange rate

100 PHP = 1.59 USD

100 PHP = 1.42 EUR

1,000 ISK = 8.2 USD

1,000 ISK = 7.32 EUR

Exchange rates and currency converter

ISK, USD, EUR to PHP – Philippine Peso Converter

🇺🇸 United States Dollar ($)

🇵🇭 Philippine Peso (₱)

Philippine Peso exchange rates as of October 10, 2026: 1 USD = 62.72 PHP (100 PHP = 1.59 USD). 1 EUR = 70.28 PHP (100 PHP = 1.42 EUR).

Icelandic Króna exchange rates as of October 10, 2026: 1 USD = 122 ISK (1,000 ISK = 8.2 USD). 1 EUR = 137 ISK (1,000 ISK = 7.32 EUR).

USD to PHP in detail →

On the map

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Between locations

Cebu Akureyri 11,010 km ≈ 14 h nonstop flight

From you

Cebu
Akureyri

Distances are measured in a straight line. Your location is detected approximately.

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

Cebu vs Akureyri: Cost of Living - Frequently Asked Questions

Yes – Akureyri is pricier by about 228%, and outside of rent the gap shows up most in eating out.

For a comfortable life, plan on about $1,401 per month in Cebu and $4,590 in Akureyri. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Rent is clearly cheaper in Cebu, especially for central apartments. Housing is actually the single biggest factor behind the overall cost gap between these two cities.

A mid-range dinner for two costs $23.00 in Cebu and $133 in Akureyri. That's a good indicator of the overall restaurant and café pricing gap between the two cities.

Groceries cost about 55% more in Akureyri, though it depends on what you buy. Local produce may be comparable; imported and premium items show the biggest price gap.

A $1,500 monthly budget goes further in Cebu, where all-in costs run around $934, than in Akureyri at $3,060. In Cebu it covers expenses comfortably, while in Akureyri it requires careful planning or may not stretch far enough.

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