Last update: Oct 2026

Cost of Living Comparison Between Chiang Mai and Bakkafjordur

For one person, living is cheaper in Bakkafjordur: $250 a month against $938 in Chiang Mai, rent and utilities included – about $8,300 less a year. Rent and utilities account for about half of the difference.

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Cost of Living Index in Chiang Mai
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Chiang Mai Living Index

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Chiang Mai

🇹🇭 Thailand

$938

/mo nomad

Bakkafjordur

🇮🇸 Iceland

$250

/mo nomad

Monthly Cost of Living

How much you'll spend in Chiang Mai and in Bakkafjordur

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

A single person spends $938 per month in Chiang Mai vs $250 in Bakkafjordur, rent included.

Chiang Mai $938
Bakkafjordur $250

A couple spends around $1,426 per month in Chiang Mai vs $427 in Bakkafjordur, rent included.

Chiang Mai $1,426
Bakkafjordur $427

A family of three spends $1,914 per month in Chiang Mai vs $604 in Bakkafjordur, rent included.

Chiang Mai $1,914
Bakkafjordur $604

Chiang Mai costs about 275% more than Bakkafjordur, and outside of rent the biggest gap is in clothing.

Both Chiang Mai and Bakkafjordur are more affordable than the global median – Chiang Mai 30% lower, Bakkafjordur 81% lower.

Meal at Budget Restaurant

$2.26 ฿75.4

Three-Course Dinner for Two, Mid-Range

$19.18 ฿641

Fast Food Meal (McDonalds, etc)

$5.59 ฿187

Cappuccino

$1.72 ฿57.6

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

$0.64 ฿21.54

Water (0.33 liter bottle)

$0.33 ฿11.18

Local Beer (0.5 liter draught)

$2.36 ฿78.7

Imported Beer (0.33 liter bottle)

$3.90 ฿130

Milk (1 liter)

$2.05 ฿68.6

White Bread (500g)

$1.40 ฿46.70

$2.26 ISK 275

-38.05%

Rice (white) (1kg)

$1.28 ฿42.89

$2.17 ISK 263

-41.01%

Eggs

$2.25 ฿75.3

$4.88 ISK 591

-53.89%

Local Cheese (1kg)

$16.94 ฿566

$8.91 ISK 1,081

90.12%

Chicken Fillets (1kg)

$2.74 ฿91.6

$11.17 ISK 1,355

-75.47%

Beef Round Steak (1kg)

$9.36 ฿313

$11.19 ISK 1,357

-16.35%

Apples (1kg)

$2.40 ฿80.3

$2.22 ISK 269

8.11%

Banana (1kg)

$1.01 ฿33.92

$2.25 ISK 273

-55.11%

Oranges (1kg)

$1.61 ฿53.9

$2.22 ISK 269

-27.48%

Tomato (1kg)

$1.52 ฿50.7

$2.19 ISK 265

-30.59%

Potato (1kg)

$1.28 ฿42.90

$2.18 ISK 264

-41.28%

Onion (1kg)

$1.11 ฿37.22

$2.24 ISK 272

-50.45%

Lettuce (1 head)

$0.72 ฿24.09

$1.02 ISK 124

-29.41%

Water (1.5 liter bottle)

$0.52 ฿17.54

$1.97 ISK 238

-73.60%

Cigarettes 20 Pack (Marlboro, Camel)

$4.33 ฿145

Wine (Bottle)

$17.73 ฿593

Local Beer (0.5 liter bottle)

$1.63 ฿54.4

Imported Beer (0.33 liter bottle)

$2.85 ฿95.3

One-way Ticket (Public Transport)

$0.85 ฿28.31

Public Transport Monthly Pass (Regular Price)

$53.9 ฿1,801

Taxi Start (Normal Tariff)

$1.17 ฿39.18

Taxi (Normal Tariff) (1km)

$0.57 ฿19.00

Taxi 1hour Waiting (Normal Tariff)

$2.37 ฿79.2

Gasoline (1 liter)

$1.45 ฿48.32

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

$20.5K ฿684.3K

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

$26.5K ฿886.1K

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

$62.3 ฿2,083

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

$12.27 ฿410

Internet (50+ Mbps, Unlimited Data)

$19.97 ฿668

Gym Membership (Monthly)

$37.91 ฿1,267

Tennis Court (1 Hour on Weekend)

$3.76 ฿126

Cinema Ticket

$6.71 ฿224

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

$797 ฿26.6K

International Primary School, 1 Child (Yearly)

$14.8K ฿495.7K

Jeans (Levis 501 Or Similar)

$53.3 ฿1,780

Summer Dress (H&M, Zara, etc)

$25.05 ฿837

Sport Shoes (Adidas, Nike)

$91.6 ฿3,062

Men's Leather Business Shoes

$73.5 ฿2,455

1-bedroom Apartment, City Center (Monthly)

$464 ฿15.5K

1-bedroom Apartment, Outside City Center (Monthly)

$305 ฿10.2K

3-bedroom Apartment, City Center (Monthly)

$915 ฿30.6K

3-bedroom Apartment, Outside City Center (Monthly)

$552 ฿18.5K

Buy Apartment in City Center (m2)

$1,912 ฿63.9K

Buy Apartment Outside City Center (m2)

$1,438 ฿48.1K

Average Monthly Net Salary (After Tax)

$595 ฿19.9K

$5,928 ISK 719.0K

-89.96%

20-Year Fixed Mortgage Interest Rate (Annual %)

5.57

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

Last update for Chiang Mai: October 13, 2026

Last update for Bakkafjordur: October 11, 2026

Monthly budget structure

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

Accommodation & Living

Chiang Mai

$305 32.5%

Bakkafjordur

–

Groceries & Markets

Chiang Mai

$238 25.4%

Bakkafjordur

–

Clothing & Footwear

Chiang Mai

$110 11.7%

Bakkafjordur

–

Monthly Utilities & Internet

Chiang Mai

$95 10.1%

Bakkafjordur

–

Eating Out

Chiang Mai

$79 8.4%

Bakkafjordur

–

Getting Around

Chiang Mai

$61 6.5%

Bakkafjordur

–

Sport & Entertainment

Chiang Mai

$51 5.5%

Bakkafjordur

–

Cost Breakdown

Salaries run about 896% higher in Bakkafjordur, which reinforces the cost advantage – you earn more and spend less. Purchasing power leans clearly in its favor.

Good to know

🇹🇭 Chiang Mai

🇮🇸 Bakkafjordur

🕒 Local time

08:46 8:46 AM

01:46 1:46 AM

7 h behind Chiang Mai

🌤 Weather

👥 Population

127,240

100

💱 Currency

Thai Baht THB ฿

Icelandic Króna ISK kr

📈 Exchange rate

100 THB = 2.99 USD

100 THB = 2.66 EUR

1,000 ISK = 8.24 USD

1,000 ISK = 7.33 EUR

Exchange rates and currency converter

ISK, USD, EUR to THB – Thai Baht Converter

🇺🇸 United States Dollar ($)

🇹🇭 Thai Baht (฿)

Thai Baht exchange rates as of October 19, 2026: 1 USD = 33.42 THB (100 THB = 2.99 USD). 1 EUR = 37.57 THB (100 THB = 2.66 EUR).

Icelandic Króna exchange rates as of October 19, 2026: 1 USD = 121 ISK (1,000 ISK = 8.24 USD). 1 EUR = 136 ISK (1,000 ISK = 7.33 EUR).

USD to THB in detail →

On the map

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Between locations

Chiang Mai Bakkafjordur 9,120 km ≈ 12 h nonstop flight

From you

Chiang Mai
Bakkafjordur

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

Chiang Mai vs Bakkafjordur: Cost of Living - Frequently Asked Questions

Chiang Mai costs about 275% more than Bakkafjordur, and outside of rent the gap comes mainly from clothing. That's enough to noticeably affect everyday spending and lifestyle for anyone choosing between the two.

For a comfortable life, plan on about $1,408 per month in Chiang Mai and $375 in Bakkafjordur. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Monthly expenses with rent come to $938 in Chiang Mai and $250 in Bakkafjordur. That's a gap of about 275%.

Interestingly, groceries are about 5% cheaper in Chiang Mai – one category where the pricier city actually offers better value, probably thanks to stronger retail competition or local farming.

A $1,000 monthly budget goes further in Bakkafjordur, where all-in costs run around $250, than in Chiang Mai at $938. In Bakkafjordur it covers expenses comfortably, while in Chiang Mai it requires careful planning or may not stretch far enough.

For digital nomads, it depends on budget. Bakkafjordur costs $250 versus $938 in Chiang Mai. Both have workable remote work infrastructure, but the cost gap matters when income varies month to month.

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 Bakkafjordur. If higher salaries, better infrastructure, or specific career opportunities are the priority, Chiang Mai makes more sense. Both are solid long-term options with distinct trade-offs.