Last update: Nov 2026

Cost of Living Comparison Between Drangsnes and Reykjavik

For one person, living is cheaper in Drangsnes: $1,726 a month against $4,031 in Reykjavik, rent and utilities included – about $27,700 less a year. Rent and utilities account for most of the difference.

82

Cost of Living Index in Drangsnes
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Drangsnes Living Index
193

Cost of Living Index in Reykjavik
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Reykjavik Living Index

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Drangsnes

🇮🇸 Iceland

$1,726

/mo nomad

Reykjavik

🇮🇸 Iceland

$4,031

/mo nomad

Monthly Cost of Living

How much you'll spend in Drangsnes 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 Drangsnes and in Reykjavik actually costs, broken down by who's living it.

Monthly costs for one person with rent: $1,726 in Drangsnes versus $4,031 in Reykjavik.

Drangsnes $1,726
Reykjavik $4,031

Estimated couple costs with rent: $2,935 in Drangsnes versus $5,731 in Reykjavik.

Drangsnes $2,935
Reykjavik $5,731

Monthly costs for a family of three with rent: $4,144 in Drangsnes versus $7,431 in Reykjavik.

Drangsnes $4,144
Reykjavik $7,431

Living in Drangsnes costs roughly 57% less than in Reykjavik, and outside of rent the biggest gap is in transport.

Both cities are pricier than the global median: Drangsnes 28% above, Reykjavik 198% above.

Meal at Budget Restaurant

$31.74 ISK 3,853

$30.60 ISK 3,714

3.73%

Three-Course Dinner for Two, Mid-Range

$122 ISK 14.9K

$122 ISK 14.8K

0.12%

Fast Food Meal (McDonalds, etc)

$26.90 ISK 3,266

$27.27 ISK 3,310

-1.36%

Cappuccino

$6.91 ISK 839

$6.90 ISK 838

0.14%

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

$3.41 ISK 414

$3.39 ISK 412

0.59%

Water (0.33 liter bottle)

$3.15 ISK 383

$3.18 ISK 386

-0.94%

Local Beer (0.5 liter draught)

$14.01 ISK 1,700

$14.10 ISK 1,711

-0.64%

Imported Beer (0.33 liter bottle)

$12.12 ISK 1,471

$12.44 ISK 1,510

-2.57%

Milk (1 liter)

$2.12 ISK 257

$2.05 ISK 249

3.41%

White Bread (500g)

$4.23 ISK 514

$4.36 ISK 529

-2.98%

Rice (white) (1kg)

$3.65 ISK 444

$3.62 ISK 440

0.83%

Eggs

$6.96 ISK 845

$7.06 ISK 857

-1.42%

Local Cheese (1kg)

$21.86 ISK 2,654

$21.58 ISK 2,620

1.30%

Chicken Fillets (1kg)

$24.27 ISK 2,946

$24.14 ISK 2,931

0.54%

Beef Round Steak (1kg)

$42.46 ISK 5,155

$41.47 ISK 5,035

2.39%

Apples (1kg)

$3.28 ISK 398

$3.06 ISK 371

7.19%

Banana (1kg)

$2.84 ISK 344

$2.81 ISK 341

1.07%

Oranges (1kg)

$3.17 ISK 385

$3.15 ISK 383

0.63%

Tomato (1kg)

$6.60 ISK 801

$6.41 ISK 779

2.96%

Potato (1kg)

$3.94 ISK 478

$3.98 ISK 483

-1.01%

Onion (1kg)

$1.70 ISK 207

$1.65 ISK 200

3.03%

Lettuce (1 head)

$3.66 ISK 444

$3.73 ISK 452

-1.88%

Water (1.5 liter bottle)

$1.74 ISK 212

$1.75 ISK 212

-0.57%

Cigarettes 20 Pack (Marlboro, Camel)

$13.77 ISK 1,671

$13.94 ISK 1,693

-1.22%

Wine (Bottle)

$23.74 ISK 2,882

$23.99 ISK 2,912

-1.04%

Local Beer (0.5 liter bottle)

$3.67 ISK 445

$3.67 ISK 446

Imported Beer (0.33 liter bottle)

$3.49 ISK 424

$3.46 ISK 420

0.87%

One-way Ticket (Public Transport)

$5.75 ISK 699

Public Transport Monthly Pass (Regular Price)

$95.5 ISK 11.6K

Taxi Start (Normal Tariff)

$6.64 ISK 806

$7.15 ISK 868

-7.13%

Taxi (Normal Tariff) (1km)

$2.79 ISK 339

$3.69 ISK 448

-24.39%

Taxi 1hour Waiting (Normal Tariff)

$80.7 ISK 9,791

$97.7 ISK 11.9K

-17.47%

Gasoline (1 liter)

$2.11 ISK 256

$2.00 ISK 243

5.50%

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

$69.7K ISK 8.5M

$68.0K ISK 8.3M

2.56%

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

$55.5K ISK 6.7M

$55.8K ISK 6.8M

-0.61%

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

$95.5 ISK 11.6K

$96.9 ISK 11.8K

-1.41%

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

$33.11 ISK 4,019

$32.89 ISK 3,992

0.67%

Internet (50+ Mbps, Unlimited Data)

$87.1 ISK 10.6K

$89.6 ISK 10.9K

-2.69%

Gym Membership (Monthly)

$99.0 ISK 12.0K

Tennis Court (1 Hour on Weekend)

$51.0 ISK 6,186

Cinema Ticket

$19.31 ISK 2,345

$19.75 ISK 2,398

-2.23%

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

$1,168 ISK 141.9K

$1,203 ISK 146.0K

-2.87%

International Primary School, 1 Child (Yearly)

$26.3K ISK 3.2M

$18.6K ISK 2.3M

41.34%

Jeans (Levis 501 Or Similar)

$152 ISK 18.5K

$151 ISK 18.3K

0.85%

Summer Dress (H&M, Zara, etc)

$65.6 ISK 7,965

$64.9 ISK 7,874

1.16%

Sport Shoes (Adidas, Nike)

$179 ISK 21.7K

$183 ISK 22.3K

-2.47%

Men's Leather Business Shoes

$248 ISK 30.1K

$255 ISK 31.0K

-2.85%

1-bedroom Apartment, City Center (Monthly)

$2,615 ISK 317.4K

1-bedroom Apartment, Outside City Center (Monthly)

$2,086 ISK 253.2K

3-bedroom Apartment, City Center (Monthly)

$3,535 ISK 429.2K

3-bedroom Apartment, Outside City Center (Monthly)

$2,796 ISK 339.4K

Buy Apartment in City Center (m2)

$8,182 ISK 993.3K

Buy Apartment Outside City Center (m2)

$6,284 ISK 762.8K

Average Monthly Net Salary (After Tax)

$6,094 ISK 739.8K

$4,790 ISK 581.5K

27.23%

20-Year Fixed Mortgage Interest Rate (Annual %)

8.81

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

Last update for Drangsnes: November 3, 2026

Last update for Reykjavik: November 1, 2026

Monthly budget structure

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

Groceries & Markets

Drangsnes

$623 36.1%

Reykjavik

$618 15.3% 0.8% $5

Eating Out

Drangsnes

$538 31.2%

Reykjavik

$531 13.2% 1.3% $7

Clothing & Footwear

Drangsnes

$290 16.8%

Reykjavik

$294 7.3% 1.5% $4.4

Monthly Utilities & Internet

Drangsnes

$216 12.5%

Reykjavik

$219 5.4% 1.6% $3.6

Sport & Entertainment

Drangsnes

$39 * 2.2%

Reykjavik

$138 3.4% 258% $100

Getting Around

Drangsnes

$21 * 1.2%

Reykjavik

$144 3.6% 600% $124

Accommodation & Living

Drangsnes

- * 0%

Reykjavik

$2.1K 51.7%

Categories marked with * are only partly priced – their share counts the items that do have prices.

Cost Breakdown

Drangsnes pays 27% more on average while also being the cheaper of the two. The combined effect is a noticeably stronger local purchasing power.

Dining out: $122 in Drangsnes vs $122 in Reykjavik. Groceries flip the comparison at $623 vs $618, with Reykjavik cheaper for home cooking.

Good to know

🇮🇸 Drangsnes

🇮🇸 Reykjavik

🕒 Local time

04:16 4:16 AM

Same time as Drangsnes

🌤 Weather

👥 Population

100

136,894 Capital

💱 Currency

Icelandic Króna ISK kr

📈 Exchange rate

1,000 ISK = 8.24 USD

1,000 ISK = 7.37 EUR

1,000 ISK = 8.24 USD

1,000 ISK = 7.37 EUR

Exchange rates and currency converter

On the map

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Drangsnes Reykjavik 170 km

From you

Drangsnes
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

Drangsnes vs Reykjavik: Cost of Living - Frequently Asked Questions

Drangsnes wins on cost – living expenses run 57% lower than in Reykjavik. Housing and daily spending are where you’ll feel the difference most, making Drangsnes the obvious pick if budget is a priority.

Average pay runs 27% higher in Drangsnes, which matters when comparing affordability. Whether that higher income actually nets you more depends on your spending habits and housing choices.

Childcare runs $1,168 in Drangsnes versus $1,203 in Reykjavik. Over years of preschool, even a modest monthly gap compounds into a major financial factor for families.

All in, you’ll spend $1,726 per month in Drangsnes versus $4,031 in Reykjavik – Drangsnes is about 57% cheaper, which adds up to real savings over time.

At $1,726 in Drangsnes versus $4,031 in Reykjavik, a $2,000 budget is realistic in Drangsnes but tight or insufficient in Reykjavik. The gap between the two cities makes Drangsnes the clear choice for anyone on this budget.

Both cities offer a good standard of living with different trade-offs. Neither is objectively better – the right pick depends on what matters most: affordability, career, cultural scene, or climate.

Safety-wise, Drangsnes and Reykjavik are both considered safe, so it’s unlikely to be the deciding factor between them.