Last update: Oct 2026

Cost of Living Comparison Between Chiang Mai and Keflavik

For one person, living is cheaper in Chiang Mai: $936 a month against $3,018 in Keflavik, rent and utilities included – about $25,000 less a year. Rent and utilities account for about half of the difference.

45

Cost of Living Index in Chiang Mai
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Chiang Mai Living Index
145

Cost of Living Index in Keflavik
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Keflavik Living Index

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Chiang Mai

🇹🇭 Thailand

$936

/mo nomad

Keflavik

🇮🇸 Iceland

$3,018

/mo nomad

Monthly Cost of Living

How much you'll spend in Chiang Mai 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 Chiang Mai and in Keflavik actually costs, broken down by who's living it.

A single person spends $936 per month in Chiang Mai vs $3,018 in Keflavik, rent included.

Chiang Mai $936
Keflavik $3,018

A couple spends around $1,457 per month in Chiang Mai vs $4,529 in Keflavik, rent included.

Chiang Mai $1,457
Keflavik $4,529

A family of three spends $1,979 per month in Chiang Mai vs $6,041 in Keflavik, rent included.

Chiang Mai $1,979
Keflavik $6,041

Chiang Mai is about 69% cheaper than Keflavik, and outside of rent the biggest gap is in groceries.

Chiang Mai sits 31% below the global median, while Keflavik is 122% above – they fall on opposite sides of the world average.

Meal at Budget Restaurant

$2.24 ฿75.6

$24.11 ISK 2,927

-90.71%

Three-Course Dinner for Two, Mid-Range

$19.00 ฿641

$121 ISK 14.7K

-84.32%

Fast Food Meal (McDonalds, etc)

$5.55 ฿187

$20.25 ISK 2,458

-72.59%

Cappuccino

$1.67 ฿56.5

$4.22 ISK 513

-60.43%

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

$0.64 ฿21.54

$3.36 ISK 408

-80.95%

Water (0.33 liter bottle)

$0.31 ฿10.31

$3.03 ISK 368

-89.77%

Local Beer (0.5 liter draught)

$2.36 ฿79.5

$8.25 ISK 1,001

-71.39%

Imported Beer (0.33 liter bottle)

$3.66 ฿124

$8.15 ISK 990

-55.09%

Milk (1 liter)

$1.95 ฿65.7

$2.11 ISK 256

-7.58%

White Bread (500g)

$1.44 ฿48.46

$4.21 ISK 512

-65.80%

Rice (white) (1kg)

$1.33 ฿45.03

$2.50 ISK 303

-46.80%

Eggs

$2.28 ฿77.1

$6.55 ISK 796

-65.19%

Local Cheese (1kg)

$16.45 ฿555

$19.70 ISK 2,391

-16.50%

Chicken Fillets (1kg)

$2.78 ฿93.9

$23.90 ISK 2,902

-88.37%

Beef Round Steak (1kg)

$9.31 ฿314

$41.71 ISK 5,063

-77.68%

Apples (1kg)

$2.35 ฿79.4

$2.44 ISK 296

-3.69%

Banana (1kg)

$0.97 ฿32.79

$2.41 ISK 292

-59.75%

Oranges (1kg)

$1.60 ฿53.9

$2.50 ISK 303

-36.00%

Tomato (1kg)

$1.50 ฿50.6

$4.16 ISK 504

-63.94%

Potato (1kg)

$1.28 ฿43.11

$3.12 ISK 378

-58.97%

Onion (1kg)

$1.10 ฿37.18

$1.64 ISK 199

-32.93%

Lettuce (1 head)

$0.71 ฿23.82

$3.62 ISK 440

-80.39%

Water (1.5 liter bottle)

$0.49 ฿16.36

$1.81 ISK 219

-72.93%

Cigarettes 20 Pack (Marlboro, Camel)

$4.14 ฿140

$13.85 ISK 1,681

-70.11%

Wine (Bottle)

$17.52 ฿591

$16.32 ISK 1,981

7.35%

Local Beer (0.5 liter bottle)

$1.61 ฿54.5

$3.73 ISK 453

-56.84%

Imported Beer (0.33 liter bottle)

$2.78 ฿93.9

$2.81 ISK 341

-1.07%

One-way Ticket (Public Transport)

$0.87 ฿29.30

$3.68 ISK 447

-76.36%

Public Transport Monthly Pass (Regular Price)

$54.1 ฿1,825

$77.2 ISK 9,366

-29.89%

Taxi Start (Normal Tariff)

$1.16 ฿39.04

$6.35 ISK 771

-81.73%

Taxi (Normal Tariff) (1km)

$0.53 ฿17.80

$2.59 ISK 314

-79.54%

Taxi 1hour Waiting (Normal Tariff)

$2.42 ฿81.7

$80.2 ISK 9,738

-96.98%

Gasoline (1 liter)

$1.45 ฿48.88

$2.00 ISK 243

-27.50%

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

$21.1K ฿710.5K

$68.2K ISK 8.3M

-69.11%

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

$26.9K ฿909.0K

$55.2K ISK 6.7M

-51.20%

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

$62.2 ฿2,098

$95.8 ISK 11.6K

-35.08%

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

$12.17 ฿411

$32.13 ISK 3,900

-62.12%

Internet (50+ Mbps, Unlimited Data)

$20.12 ฿679

$84.5 ISK 10.3K

-76.19%

Gym Membership (Monthly)

$37.31 ฿1,259

$76.7 ISK 9,316

-51.38%

Tennis Court (1 Hour on Weekend)

$3.77 ฿127

Cinema Ticket

$6.49 ฿219

$19.58 ISK 2,377

-66.85%

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

$736 ฿24.8K

$406 ISK 49.3K

81.41%

International Primary School, 1 Child (Yearly)

$14.8K ฿498.2K

$26.4K ISK 3.2M

-44.10%

Jeans (Levis 501 Or Similar)

$53.4 ฿1,801

$148 ISK 18.0K

-63.99%

Summer Dress (H&M, Zara, etc)

$24.64 ฿831

$66.8 ISK 8,104

-63.09%

Sport Shoes (Adidas, Nike)

$91.5 ฿3,087

$184 ISK 22.4K

-50.41%

Men's Leather Business Shoes

$71.9 ฿2,427

$190 ISK 23.1K

-62.11%

1-bedroom Apartment, City Center (Monthly)

$482 ฿16.3K

$1,862 ISK 226.0K

-74.10%

1-bedroom Apartment, Outside City Center (Monthly)

$309 ฿10.4K

$1,359 ISK 165.0K

-77.27%

3-bedroom Apartment, City Center (Monthly)

$1,006 ฿33.9K

$2,527 ISK 306.7K

-60.19%

3-bedroom Apartment, Outside City Center (Monthly)

$633 ฿21.4K

$2,040 ISK 247.7K

-68.95%

Buy Apartment in City Center (m2)

$2,363 ฿79.7K

Buy Apartment Outside City Center (m2)

$1,589 ฿53.6K

Average Monthly Net Salary (After Tax)

$590 ฿19.9K

$3,819 ISK 463.6K

-84.56%

20-Year Fixed Mortgage Interest Rate (Annual %)

5.57

8.81

-36.78%

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

Last update for Chiang Mai: October 26, 2026

Last update for Keflavik: October 26, 2026

Monthly budget structure

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

Accommodation & Living

Chiang Mai

$309 33%

Keflavik

$1.4K 45% 340% $1.1K

Groceries & Markets

Chiang Mai

$234 25.1%

Keflavik

$566 18.8% 142% $332

Clothing & Footwear

Chiang Mai

$109 11.6%

Keflavik

$265 8.8% 144% $157

Monthly Utilities & Internet

Chiang Mai

$94 10.1%

Keflavik

$212 7% 125% $118

Eating Out

Chiang Mai

$78 8.3%

Keflavik

$387 12.8% 399% $310

Getting Around

Chiang Mai

$61 6.6%

Keflavik

$111 3.7% 81.2% $50

Sport & Entertainment

Chiang Mai

$50 5.4%

Keflavik

$116 3.8% 131% $66

Cost Breakdown

A central one-bedroom costs $482 in Chiang Mai versus $1,862 in Keflavik. Rent is usually the largest line item in a monthly budget, so the gap here sets the tone for the overall comparison.

Salaries in Keflavik are about 6.5 times higher. Purchasing power depends on which expenses matter most to you.

A mid-range dinner for two costs $19 in Chiang Mai versus $121 in Keflavik. Monthly groceries follow the same trend: $234 vs $566 – making Chiang Mai the more affordable choice for daily food spending.

Good to know

🇹🇭 Chiang Mai

🇮🇸 Keflavik

🕒 Local time

11:13 11:13 AM

04:13 4:13 AM

7 h behind Chiang Mai

🌤 Weather

👥 Population

127,240

15,000

💱 Currency

Thai Baht THB ฿

Icelandic Króna ISK kr

📈 Exchange rate

100 THB = 2.96 USD

100 THB = 2.65 EUR

1,000 ISK = 8.24 USD

1,000 ISK = 7.38 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 November 2, 2026: 1 USD = 33.74 THB (100 THB = 2.96 USD). 1 EUR = 37.67 THB (100 THB = 2.65 EUR).

Icelandic Króna exchange rates as of November 2, 2026: 1 USD = 121 ISK (1,000 ISK = 8.24 USD). 1 EUR = 136 ISK (1,000 ISK = 7.38 EUR).

USD to THB in detail →

On the map

Lowest

Highest

Between locations

Chiang Mai Keflavik 9,550 km ≈ 12 h nonstop flight

From you

Chiang Mai
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

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

Keflavik costs about 223% more than Chiang Mai, and outside of rent the gap comes mainly from groceries. That’s enough to noticeably affect everyday spending and lifestyle for anyone choosing between the two.

For a comfortable life, plan on about $1,403 per month in Chiang Mai and $4,526 in Keflavik. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Rent is clearly cheaper in Chiang Mai, especially for central apartments: a one-bedroom in the center costs $482 there versus $1,862 in Keflavik.

Kindergarten costs $736 per month in Chiang Mai and $406 in Keflavik. For families with young kids, this one expense can tip the scales when choosing between the two cities.

Groceries cost about 142% more in Keflavik, though the gap depends on what you buy.

$800 is a stretch for both – monthly costs hit $936 in Chiang Mai and $3,018 in Keflavik. You’ll need shared housing and careful budgeting no matter which city you pick.

It depends on your priorities. Chiang Mai has an edge in some lifestyle areas, with costs from $936 in Chiang Mai to $3,018 in Keflavik. Climate, culture, job market, and personal taste all factor in.

Both cities have a reputation for safety. In either place, the choice of neighborhood matters more than the choice between the two cities.

If budget matters most, go with Chiang Mai. If higher salaries or specific career opportunities are the priority, Keflavik makes more sense. Both are solid long-term options with distinct trade-offs.