Last update: Oct 2026

Cost of Living Comparison Between Cebu and Keflavik

For one person, living is cheaper in Cebu: $918 a month against $2,992 in Keflavik, rent and utilities included – about $24,900 less a year. Rent and utilities account for about half of the difference.

45

Cost of Living Index in Cebu
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Cebu Living Index
147

Cost of Living Index in Keflavik
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Keflavik Living Index

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Cebu

🇵🇭 Philippines

$918

/mo nomad

Keflavik

🇮🇸 Iceland

$2,992

/mo nomad

Monthly Cost of Living

How much you'll spend in Cebu and in Keflavik

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 Keflavik actually costs, broken down by who's living it.

Monthly costs for one person with rent: $918 in Cebu versus $2,992 in Keflavik.

Cebu $918
Keflavik $2,992

Estimated couple costs with rent: $1,409 in Cebu versus $4,538 in Keflavik.

Cebu $1,409
Keflavik $4,538

Monthly costs for a family of three with rent: $1,900 in Cebu versus $6,084 in Keflavik.

Cebu $1,900
Keflavik $6,084

Living in Cebu costs roughly 69% less than in Keflavik, and outside of rent the biggest gap is in groceries.

The two cities straddle the global median: Cebu is 32% below, Keflavik is 122% above.

Meal at Budget Restaurant

$3.09 ₱194

$24.71 ISK 2,997

-87.49%

Three-Course Dinner for Two, Mid-Range

$24.22 ₱1,525

$124 ISK 15.0K

-80.40%

Fast Food Meal (McDonalds, etc)

$3.92 ₱247

$20.40 ISK 2,475

-80.78%

Cappuccino

$2.51 ₱158

$4.06 ISK 493

-38.18%

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

$1.59 ₱100

$3.18 ISK 386

-50.00%

Water (0.33 liter bottle)

$0.53 ₱33.43

$3.19 ISK 387

-83.39%

Local Beer (0.5 liter draught)

$1.78 ₱112

$8.00 ISK 970

-77.75%

Imported Beer (0.33 liter bottle)

$2.17 ₱137

$8.34 ISK 1,012

-73.98%

Milk (1 liter)

$1.92 ₱121

$2.10 ISK 255

-8.57%

White Bread (500g)

$1.36 ₱85.4

$4.23 ISK 513

-67.85%

Rice (white) (1kg)

$1.01 ₱63.5

$2.53 ISK 307

-60.08%

Eggs

$2.03 ₱128

$6.32 ISK 767

-67.88%

Local Cheese (1kg)

$9.86 ₱621

$19.06 ISK 2,311

-48.27%

Chicken Fillets (1kg)

$4.39 ₱277

$24.38 ISK 2,958

-81.99%

Beef Round Steak (1kg)

$7.60 ₱479

$41.25 ISK 5,003

-81.58%

Apples (1kg)

$3.30 ₱208

$2.48 ISK 301

33.06%

Banana (1kg)

$1.39 ₱87.8

$2.51 ISK 304

-44.62%

Oranges (1kg)

$2.33 ₱147

$2.44 ISK 296

-4.51%

Tomato (1kg)

$1.50 ₱94.3

$4.01 ISK 486

-62.59%

Potato (1kg)

$2.36 ₱149

$3.20 ISK 388

-26.25%

Onion (1kg)

$1.90 ₱119

$1.70 ISK 206

11.76%

Lettuce (1 head)

$1.19 ₱74.9

$3.84 ISK 465

-69.01%

Water (1.5 liter bottle)

$0.63 ₱39.71

$1.78 ISK 215

-64.61%

Cigarettes 20 Pack (Marlboro, Camel)

$3.00 ₱189

$13.97 ISK 1,695

-78.53%

Wine (Bottle)

$6.03 ₱379

$16.58 ISK 2,012

-63.63%

Local Beer (0.5 liter bottle)

$1.23 ₱77.7

$3.61 ISK 438

-65.93%

Imported Beer (0.33 liter bottle)

$1.75 ₱110

$2.94 ISK 356

-40.48%

One-way Ticket (Public Transport)

$0.25 ₱15.86

$3.68 ISK 446

-93.21%

Public Transport Monthly Pass (Regular Price)

$12.64 ₱796

$77.6 ISK 9,407

-83.70%

Taxi Start (Normal Tariff)

$0.77 ₱48.62

$6.63 ISK 804

-88.39%

Taxi (Normal Tariff) (1km)

$0.23 ₱14.53

$2.58 ISK 312

-91.09%

Taxi 1hour Waiting (Normal Tariff)

$4.46 ₱281

$80.2 ISK 9,727

-94.44%

Gasoline (1 liter)

$1.31 ₱82.8

$2.10 ISK 255

-37.62%

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

$21.2K ₱1.3M

$50.1K ISK 6.1M

-57.64%

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

$19.1K ₱1.2M

$54.7K ISK 6.6M

-64.99%

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

$120 ₱7,569

$94.8 ISK 11.5K

26.82%

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

$14.00 ₱882

$33.29 ISK 4,038

-57.95%

Internet (50+ Mbps, Unlimited Data)

$27.54 ₱1,734

$85.0 ISK 10.3K

-67.60%

Gym Membership (Monthly)

$32.33 ₱2,035

$78.5 ISK 9,526

-58.84%

Tennis Court (1 Hour on Weekend)

$6.65 ₱419

Cinema Ticket

$5.65 ₱356

$19.48 ISK 2,363

-71.00%

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

$275 ₱17.3K

$407 ISK 49.3K

-32.30%

International Primary School, 1 Child (Yearly)

$7,918 ₱498.5K

$25.7K ISK 3.1M

-69.20%

Jeans (Levis 501 Or Similar)

$49.33 ₱3,106

$152 ISK 18.4K

-67.53%

Summer Dress (H&M, Zara, etc)

$25.24 ₱1,589

$65.4 ISK 7,934

-61.41%

Sport Shoes (Adidas, Nike)

$77.0 ₱4,846

$182 ISK 22.0K

-57.64%

Men's Leather Business Shoes

$57.2 ₱3,601

$191 ISK 23.1K

-70.00%

1-bedroom Apartment, City Center (Monthly)

$500 ₱31.5K

$1,896 ISK 230.0K

-73.66%

1-bedroom Apartment, Outside City Center (Monthly)

$309 ₱19.4K

$1,329 ISK 161.2K

-76.76%

3-bedroom Apartment, City Center (Monthly)

$1,078 ₱67.9K

$2,516 ISK 305.1K

-57.16%

3-bedroom Apartment, Outside City Center (Monthly)

$615 ₱38.7K

$2,061 ISK 250.0K

-70.15%

Buy Apartment in City Center (m2)

$2,886 ₱181.7K

Buy Apartment Outside City Center (m2)

$1,917 ₱120.7K

Average Monthly Net Salary (After Tax)

$346 ₱21.8K

$3,752 ISK 455.0K

-90.78%

20-Year Fixed Mortgage Interest Rate (Annual %)

7.2

8.81

-18.27%

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

Last update for Cebu: October 12, 2026

Last update for Keflavik: October 12, 2026

Monthly budget structure

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

Accommodation & Living

Cebu

$309 33.6%

Keflavik

$1.3K 44.4% 330% $1K

Groceries & Markets

Cebu

$206 22.4%

Keflavik

$566 18.9% 175% $360

Monthly Utilities & Internet

Cebu

$162 17.6%

Keflavik

$213 7.1% 31.7% $51

Clothing & Footwear

Cebu

$94 10.2%

Keflavik

$265 8.9% 183% $171

Eating Out

Cebu

$88 9.6%

Keflavik

$390 13% 342% $302

Sport & Entertainment

Cebu

$44 4.8%

Keflavik

$118 3.9% 169% $74

Getting Around

Cebu

$16 1.7%

Keflavik

$112 3.7% 618% $96

Cost Breakdown

A one-bedroom apartment in the center runs $500 in Cebu and $1,896 in Keflavik. Housing cost is often the main lever when comparing two cities.

Keflavik pays 984% more on average. The extra income cushions the higher costs, though housing choices and lifestyle decide how much of the gap is truly closed.

Dining out: $24.00 in Cebu vs $124 in Keflavik for a mid-range dinner for two. Groceries echo the gap at $206 vs $566 per month, with Cebu cheaper across the board.

Good to know

🇵🇭 Cebu

🇮🇸 Keflavik

🕒 Local time

06:20 6:20 AM

22:20 10:20 PM

8 h behind Cebu

🌤 Weather

👥 Population

964,169

15,000

💱 Currency

Philippine Peso PHP ₱

Icelandic Króna ISK kr

📈 Exchange rate

100 PHP = 1.59 USD

100 PHP = 1.41 EUR

1,000 ISK = 8.24 USD

1,000 ISK = 7.33 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 18, 2026: 1 USD = 62.96 PHP (100 PHP = 1.59 USD). 1 EUR = 70.78 PHP (100 PHP = 1.41 EUR).

Icelandic Króna exchange rates as of October 18, 2026: 1 USD = 121 ISK (1,000 ISK = 8.24 USD). 1 EUR = 136 ISK (1,000 ISK = 7.33 EUR).

USD to PHP in detail →

On the map

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Highest

Between locations

Cebu Keflavik 11,280 km ≈ 15 h nonstop flight

From you

Cebu
Keflavik

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 Keflavik: Cost of Living - Frequently Asked Questions

Cebu is cheaper overall, especially in groceries, clothing, and eating out. The 226% gap adds up to real monthly savings that compound significantly over time.

On paper, salaries run 984% lower in Keflavik. That's worth factoring in alongside costs, though remote workers earning in a stronger currency may not notice the difference at all.

Rent for a central apartment: $500 in Cebu versus $1,896 in Keflavik. Housing is usually the single largest factor when comparing overall living costs between the two.

All in, you'll spend $918 per month in Cebu versus $2,992 in Keflavik – a 226% gap that adds up to real savings over time for anyone picking the cheaper option.

A monthly transit pass in Cebu runs roughly 514% less than in Keflavik. Both cities have functional networks, but the price difference matters if you're watching your budget.

At $918 in Cebu versus $2,992 in Keflavik, a $1,500 budget is realistic in Cebu but tight or insufficient in Keflavik. The gap between the two cities makes Cebu the clear choice for anyone on this budget.

For families, Cebu is more practical. Housing and childcare are both notably cheaper than in Keflavik, and the savings on those two alone free up budget for education, activities, and family trips.

Safety-wise, Cebu and Keflavik are on par. Petty crime is typical for cities this size, and most residents feel comfortable going about their daily routines in either place.

Expats usually find Cebu gentler on the wallet – expenses run 226% less than in Keflavik. Beyond cost, consider language, visa policies, and how big the international community is in each city.