Last update: Oct 2026

Cost of Living Comparison Between George Town and Reykjavik

For one person, living is cheaper in Reykjavik: $4,002 a month against $4,936 in George Town, rent and utilities included – about $11,200 less a year. Rent and utilities account for most of the difference.

238

Cost of Living Index in George Town
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George Town Living Index
193

Cost of Living Index in Reykjavik
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Reykjavik Living Index

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George Town

🇰🇾 Cayman Islands

$4,936

/mo nomad

Reykjavik

🇮🇸 Iceland

$4,002

/mo nomad

Monthly Cost of Living

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

Monthly costs for one person with rent: $4,936 in George Town versus $4,002 in Reykjavik.

George Town $4,936
Reykjavik $4,002

Estimated couple costs with rent: $7,405 in George Town versus $5,705 in Reykjavik.

George Town $7,405
Reykjavik $5,705

Monthly costs for a family of three with rent: $9,875 in George Town versus $7,407 in Reykjavik.

George Town $9,875
Reykjavik $7,407

Living in George Town is roughly 23% more expensive than in Reykjavik, and outside of rent the biggest gap is in utilities.

Both cities are pricier than the global median: George Town 266% above, Reykjavik 196% above.

Meal at Budget Restaurant

$30.24 KYD 24.80

$31.56 ISK 3,828

-4.18%

Three-Course Dinner for Two, Mid-Range

$115 KYD 94.0

$122 ISK 14.8K

-6.30%

Fast Food Meal (McDonalds, etc)

$16.97 KYD 13.91

$26.86 ISK 3,258

-36.82%

Cappuccino

$7.16 KYD 5.87

$6.81 ISK 827

5.14%

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

$2.99 KYD 2.45

$3.39 ISK 411

-11.80%

Water (0.33 liter bottle)

$2.86 KYD 2.35

$3.20 ISK 388

-10.63%

Local Beer (0.5 liter draught)

$7.10 KYD 5.82

$14.14 ISK 1,715

-49.79%

Imported Beer (0.33 liter bottle)

$9.42 KYD 7.73

$12.31 ISK 1,493

-23.48%

Milk (1 liter)

$4.67 KYD 3.83

$2.10 ISK 255

122.38%

White Bread (500g)

$4.23 KYD 3.47

$4.19 ISK 508

0.95%

Rice (white) (1kg)

$4.40 KYD 3.61

$3.72 ISK 451

18.28%

Eggs

$7.29 KYD 5.98

$7.05 ISK 856

3.40%

Local Cheese (1kg)

$55.9 KYD 45.87

$21.56 ISK 2,615

159.46%

Chicken Fillets (1kg)

$18.98 KYD 15.56

$24.68 ISK 2,993

-23.10%

Beef Round Steak (1kg)

$19.38 KYD 15.89

$42.19 ISK 5,117

-54.06%

Apples (1kg)

$7.47 KYD 6.12

$3.23 ISK 392

131.27%

Banana (1kg)

$3.62 KYD 2.96

$2.73 ISK 331

32.60%

Oranges (1kg)

$6.01 KYD 4.93

$3.17 ISK 384

89.59%

Tomato (1kg)

$7.95 KYD 6.52

$6.61 ISK 802

20.27%

Potato (1kg)

$4.03 KYD 3.31

$3.85 ISK 467

4.68%

Onion (1kg)

$3.96 KYD 3.24

$1.66 ISK 201

138.55%

Lettuce (1 head)

$3.18 KYD 2.61

$3.80 ISK 461

-16.32%

Water (1.5 liter bottle)

$2.25 KYD 1.85

$1.75 ISK 212

28.57%

Cigarettes 20 Pack (Marlboro, Camel)

$14.50 KYD 11.89

$13.71 ISK 1,662

5.76%

Wine (Bottle)

$25.15 KYD 20.62

$24.21 ISK 2,937

3.88%

Local Beer (0.5 liter bottle)

$4.14 KYD 3.40

$3.53 ISK 428

17.28%

Imported Beer (0.33 liter bottle)

$5.37 KYD 4.40

$3.32 ISK 402

61.75%

One-way Ticket (Public Transport)

$2.34 KYD 1.92

$5.75 ISK 697

-59.30%

Public Transport Monthly Pass (Regular Price)

$79.7 KYD 65.4

$93.8 ISK 11.4K

-15.02%

Taxi Start (Normal Tariff)

$19.10 KYD 15.66

$6.61 ISK 802

188.96%

Taxi (Normal Tariff) (1km)

$3.86 KYD 3.16

$2.90 ISK 352

33.10%

Taxi 1hour Waiting (Normal Tariff)

$45.76 KYD 37.52

$79.2 ISK 9,602

-42.19%

Gasoline (1 liter)

$1.65 KYD 1.35

$2.09 ISK 253

-21.05%

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

$42.3K KYD 34.7K

$51.0K ISK 6.2M

-17.14%

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

$43.1K KYD 35.3K

$53.3K ISK 6.5M

-19.13%

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

$459 KYD 377

$95.3 ISK 11.6K

382.25%

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

$118 KYD 96.4

$32.35 ISK 3,923

263.40%

Internet (50+ Mbps, Unlimited Data)

$112 KYD 91.9

$87.5 ISK 10.6K

28.03%

Gym Membership (Monthly)

$213 KYD 174

$102 ISK 12.4K

108.87%

Tennis Court (1 Hour on Weekend)

$35.02 KYD 28.71

$50.1 ISK 6,074

-30.07%

Cinema Ticket

$18.78 KYD 15.40

$19.88 ISK 2,412

-5.53%

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

$1,840 KYD 1,509

$1,194 ISK 144.8K

54.10%

International Primary School, 1 Child (Yearly)

$26.2K KYD 21.5K

$25.4K ISK 3.1M

3.19%

Jeans (Levis 501 Or Similar)

$85.9 KYD 70.4

$149 ISK 18.1K

-42.37%

Summer Dress (H&M, Zara, etc)

$74.8 KYD 61.3

$66.6 ISK 8,080

12.25%

Sport Shoes (Adidas, Nike)

$138 KYD 113

$180 ISK 21.8K

-23.20%

Men's Leather Business Shoes

$147 KYD 121

$253 ISK 30.7K

-41.88%

1-bedroom Apartment, City Center (Monthly)

$2,943 KYD 2,413

$2,549 ISK 309.2K

15.46%

1-bedroom Apartment, Outside City Center (Monthly)

$2,491 KYD 2,042

$2,056 ISK 249.4K

21.15%

3-bedroom Apartment, City Center (Monthly)

$5,699 KYD 4,674

$3,498 ISK 424.2K

62.96%

3-bedroom Apartment, Outside City Center (Monthly)

$4,661 KYD 3,822

$2,764 ISK 335.2K

68.64%

Buy Apartment in City Center (m2)

$8,627 KYD 7,074

$8,120 ISK 984.9K

6.25%

Buy Apartment Outside City Center (m2)

$2,246 KYD 1,842

$6,254 ISK 758.5K

-64.08%

Average Monthly Net Salary (After Tax)

$7,354 KYD 6,030

$4,573 ISK 554.6K

60.82%

20-Year Fixed Mortgage Interest Rate (Annual %)

8.81

-9.19%

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

Last update for George Town: October 10, 2026

Last update for Reykjavik: October 12, 2026

Monthly budget structure

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

Accommodation & Living

George Town

$2.5K 50.5%

Reykjavik

$2.1K 51.4% 17.5% $435

Groceries & Markets

George Town

$721 14.6%

Reykjavik

$623 15.6% 13.6% $98

Monthly Utilities & Internet

George Town

$689 14%

Reykjavik

$215 5.4% 68.8% $474

Eating Out

George Town

$457 9.3%

Reykjavik

$536 13.4% 17.5% $80

Sport & Entertainment

George Town

$250 5.1%

Reykjavik

$142 3.5% 43.4% $109

Clothing & Footwear

George Town

$201 4.1%

Reykjavik

$292 7.3% 45.5% $91

Getting Around

George Town

$127 2.6%

Reykjavik

$138 3.5% 8.2% $10

Cost Breakdown

A one-bedroom apartment in the center runs $2,943 in George Town and $2,549 in Reykjavik. Housing cost is often the main lever when comparing two cities.

George Town pays 61% 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: $115 in George Town vs $122 in Reykjavik. Groceries flip the comparison at $721 vs $623, with Reykjavik cheaper for home cooking.

Good to know

🇰🇾 George Town

🇮🇸 Reykjavik

🕒 Local time

15:30 3:30 PM

20:30 8:30 PM

5 h ahead of George Town

🌤 Weather

👥 Population

28,089 Capital

136,894 Capital

💱 Currency

Cayman Islands Dollar KYD $

Icelandic Króna ISK kr

📈 Exchange rate

1 KYD = 1.22 USD

1 KYD = 1.08 EUR

1,000 ISK = 8.24 USD

1,000 ISK = 7.33 EUR

Exchange rates and currency converter

ISK, USD, EUR to KYD – Cayman Islands Dollar Converter

🇺🇸 United States Dollar ($)

🇰🇾 Cayman Islands Dollar ($)

Cayman Islands Dollar exchange rates as of October 18, 2026: 1 USD = 0.82 KYD (1 KYD = 1.22 USD). 1 EUR = 0.922 KYD (1 KYD = 1.08 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 KYD in detail →

On the map

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Between locations

George Town Reykjavik 6,620 km ≈ 9 h nonstop flight

From you

George Town
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

George Town vs Reykjavik: Cost of Living - Frequently Asked Questions

George Town and Reykjavik differ by about 23% in total monthly costs ($4,936 vs $4,002 including rent). Reykjavik is meaningfully more affordable – a gap that matters a lot on a fixed or modest income.

Average pay runs 61% higher in George Town, which matters when comparing affordability. Whether that higher income actually nets you more depends on your spending habits and housing choices.

Rent for a central apartment: $2,943 in George Town versus $2,549 in Reykjavik. Housing is usually the single largest factor when comparing overall living costs between the two.

All in, you'll spend $4,936 per month in George Town versus $4,002 in Reykjavik – a 23% gap that adds up to real savings over time for anyone picking the cheaper option.

A monthly transit pass in Reykjavik runs roughly 18% less than in George Town. Both cities have functional networks, but the price difference matters if you're watching your budget.

Both cities are expensive relative to $3,000. Reykjavik is the more realistic option, but even there you'll need to be disciplined with housing, food, and fun money.

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, George Town 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 Reykjavik gentler on the wallet – expenses run 23% less than in George Town. Beyond cost, consider language, visa policies, and how big the international community is in each city.