Last update: Oct 2026

Cost of Living Comparison Between Cebu and Reykjavik

For one person, living is cheaper in Cebu: $934 a month against $4,037 in Reykjavik, rent and utilities included – about $37,200 less a year. Rent and utilities account for most of the difference.

44

Cost of Living Index in Cebu
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Cebu Living Index
193

Cost of Living Index in Reykjavik
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Reykjavik Living Index

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Cebu

🇵🇭 Philippines

$934

/mo nomad

Reykjavik

🇮🇸 Iceland

$4,037

/mo nomad

Monthly Cost of Living

How much you'll spend in Cebu and in Reykjavik

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

Monthly costs for one person with rent: $934 in Cebu versus $4,037 in Reykjavik.

Cebu $934
Reykjavik $4,037

Estimated couple costs with rent: $1,415 in Cebu versus $5,666 in Reykjavik.

Cebu $1,415
Reykjavik $5,666

Monthly costs for a family of three with rent: $1,896 in Cebu versus $7,295 in Reykjavik.

Cebu $1,896
Reykjavik $7,295

Living in Cebu costs roughly 77% less than in Reykjavik, and outside of rent the biggest gap is in eating out.

The two cities straddle the global median: Cebu is 30% below, Reykjavik is 201% above.

Meal at Budget Restaurant

$3.03 ₱191

$30.59 ISK 3,727

-90.09%

Three-Course Dinner for Two, Mid-Range

$23.48 ₱1,476

$136 ISK 16.5K

-82.67%

Fast Food Meal (McDonalds, etc)

$4.09 ₱257

$27.08 ISK 3,300

-84.90%

Cappuccino

$2.52 ₱158

$6.72 ISK 818

-62.50%

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

$1.54 ₱97.2

$3.27 ISK 399

-52.91%

Water (0.33 liter bottle)

$0.49 ₱31.06

$3.16 ISK 386

-84.49%

Local Beer (0.5 liter draught)

$1.79 ₱113

$13.91 ISK 1,695

-87.13%

Imported Beer (0.33 liter bottle)

$2.26 ₱142

$12.06 ISK 1,469

-81.26%

Milk (1 liter)

$1.95 ₱122

$2.04 ISK 248

-4.41%

White Bread (500g)

$1.43 ₱89.9

$4.32 ISK 526

-66.90%

Rice (white) (1kg)

$1.02 ₱64.0

$3.67 ISK 447

-72.21%

Eggs

$2.06 ₱129

$7.02 ISK 855

-70.66%

Local Cheese (1kg)

$9.81 ₱617

$22.01 ISK 2,682

-55.43%

Chicken Fillets (1kg)

$4.61 ₱290

$24.70 ISK 3,009

-81.34%

Beef Round Steak (1kg)

$7.70 ₱484

$42.66 ISK 5,198

-81.95%

Apples (1kg)

$3.31 ₱208

$3.37 ISK 411

-1.78%

Banana (1kg)

$1.45 ₱91.2

$2.85 ISK 347

-49.12%

Oranges (1kg)

$2.36 ₱148

$3.17 ISK 387

-25.55%

Tomato (1kg)

$1.54 ₱96.6

$6.39 ISK 779

-75.90%

Potato (1kg)

$2.36 ₱148

$4.01 ISK 489

-41.15%

Onion (1kg)

$1.99 ₱125

$1.64 ISK 200

21.34%

Lettuce (1 head)

$1.15 ₱72.3

$3.80 ISK 462

-69.74%

Water (1.5 liter bottle)

$0.67 ₱42.26

$1.74 ISK 212

-61.49%

Cigarettes 20 Pack (Marlboro, Camel)

$3.00 ₱189

$13.80 ISK 1,681

-78.26%

Wine (Bottle)

$6.35 ₱399

$23.38 ISK 2,849

-72.84%

Local Beer (0.5 liter bottle)

$1.31 ₱82.1

$3.53 ISK 430

-62.89%

Imported Beer (0.33 liter bottle)

$1.73 ₱109

$3.45 ISK 420

-49.86%

One-way Ticket (Public Transport)

$0.25 ₱15.82

$5.77 ISK 703

-95.67%

Public Transport Monthly Pass (Regular Price)

$12.65 ₱796

$95.1 ISK 11.6K

-86.70%

Taxi Start (Normal Tariff)

$0.74 ₱46.44

$6.63 ISK 808

-88.84%

Taxi (Normal Tariff) (1km)

$0.21 ₱13.15

$2.79 ISK 340

-92.47%

Taxi 1hour Waiting (Normal Tariff)

$4.33 ₱272

$81.4 ISK 9,915

-94.68%

Gasoline (1 liter)

$1.33 ₱83.7

$2.11 ISK 257

-36.97%

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

$21.8K ₱1.4M

$50.8K ISK 6.2M

-57.17%

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

$19.4K ₱1.2M

$52.7K ISK 6.4M

-63.22%

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

$121 ₱7,583

$88.7 ISK 10.8K

35.99%

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

$14.45 ₱909

$31.53 ISK 3,842

-54.17%

Internet (50+ Mbps, Unlimited Data)

$28.29 ₱1,779

$84.6 ISK 10.3K

-66.58%

Gym Membership (Monthly)

$32.68 ₱2,055

$100 ISK 12.2K

-67.44%

Tennis Court (1 Hour on Weekend)

$6.39 ₱402

$48.20 ISK 5,873

-86.74%

Cinema Ticket

$5.46 ₱343

$19.87 ISK 2,422

-72.52%

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

$273 ₱17.2K

$1,277 ISK 155.7K

-78.60%

International Primary School, 1 Child (Yearly)

$8,156 ₱512.9K

$31.0K ISK 3.8M

-73.65%

Jeans (Levis 501 Or Similar)

$49.57 ₱3,117

$161 ISK 19.6K

-69.18%

Summer Dress (H&M, Zara, etc)

$24.87 ₱1,564

$64.9 ISK 7,908

-61.68%

Sport Shoes (Adidas, Nike)

$76.6 ₱4,817

$183 ISK 22.3K

-58.07%

Men's Leather Business Shoes

$59.3 ₱3,727

$254 ISK 30.9K

-76.66%

1-bedroom Apartment, City Center (Monthly)

$506 ₱31.8K

$2,499 ISK 304.6K

-79.77%

1-bedroom Apartment, Outside City Center (Monthly)

$309 ₱19.5K

$2,000 ISK 243.7K

-84.53%

3-bedroom Apartment, City Center (Monthly)

$1,052 ₱66.1K

$3,452 ISK 420.6K

-69.53%

3-bedroom Apartment, Outside City Center (Monthly)

$619 ₱38.9K

$2,742 ISK 334.2K

-77.43%

Buy Apartment in City Center (m2)

$2,915 ₱183.4K

$8,001 ISK 974.9K

-63.56%

Buy Apartment Outside City Center (m2)

$1,867 ₱117.4K

$6,249 ISK 761.5K

-70.12%

Average Monthly Net Salary (After Tax)

$341 ₱21.5K

$4,691 ISK 571.6K

-92.73%

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 5, 2026

Last update for Reykjavik: October 4, 2026

Monthly budget structure

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

Accommodation & Living

Cebu

$309 33.5%

Reykjavik

$2K 50.9% 546% $1.7K

Groceries & Markets

Cebu

$210 22.7%

Reykjavik

$625 15.9% 197% $415

Monthly Utilities & Internet

Cebu

$163 17.7%

Reykjavik

$205 5.2% 25.4% $42

Clothing & Footwear

Cebu

$95 10.2%

Reykjavik

$298 7.6% 215% $203

Eating Out

Cebu

$88 9.6%

Reykjavik

$526 13.4% 495% $438

Sport & Entertainment

Cebu

$44 4.7%

Reykjavik

$140 3.6% 221% $97

Getting Around

Cebu

$15 1.7%

Reykjavik

$139 3.5% 799% $123

Cost Breakdown

A one-bedroom apartment in the center runs $506 in Cebu and $2,499 in Reykjavik. Housing cost is often the main lever when comparing two cities.

Reykjavik pays 1275% 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: $23.00 in Cebu vs $136 in Reykjavik for a mid-range dinner for two. Groceries echo the gap at $210 vs $625 per month, with Cebu cheaper across the board.

Good to know

🇵🇭 Cebu

🇮🇸 Reykjavik

🕒 Local time

16:15 4:15 PM

08:15 8:15 AM

8 h behind Cebu

🌤 Weather

👥 Population

964,169

136,894 Capital

💱 Currency

Philippine Peso PHP ₱

Icelandic Króna ISK kr

📈 Exchange rate

100 PHP = 1.59 USD

100 PHP = 1.42 EUR

1,000 ISK = 8.21 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 = 62.89 PHP (100 PHP = 1.59 USD). 1 EUR = 70.54 PHP (100 PHP = 1.42 EUR).

Icelandic Króna exchange rates as of October 10, 2026: 1 USD = 122 ISK (1,000 ISK = 8.21 USD). 1 EUR = 137 ISK (1,000 ISK = 7.32 EUR).

USD to PHP in detail →

On the map

Lowest

Highest

Between locations

Cebu Reykjavik 11,250 km ≈ 15 h nonstop flight

From you

Cebu
Reykjavik

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 Reykjavik: Cost of Living - Frequently Asked Questions

Cebu is cheaper overall, especially in groceries, clothing, and eating out. The 332% gap adds up to real monthly savings that compound significantly over time.

On paper, salaries run 1275% lower in Reykjavik. 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: $506 in Cebu versus $2,499 in Reykjavik. Housing is usually the single largest factor when comparing overall living costs between the two.

All in, you'll spend $934 per month in Cebu versus $4,037 in Reykjavik – a 332% gap that adds up to real savings over time for anyone picking the cheaper option.

A monthly transit pass in Cebu runs roughly 652% less than in Reykjavik. Both cities have functional networks, but the price difference matters if you're watching your budget.

At $934 in Cebu versus $4,037 in Reykjavik, a $1,500 budget is realistic in Cebu but tight or insufficient in Reykjavik. 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 Reykjavik, and the savings on those two alone free up budget for education, activities, and family trips.

Safety-wise, Cebu and Reykjavik 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 332% less than in Reykjavik. Beyond cost, consider language, visa policies, and how big the international community is in each city.