Last update: Oct 2026

Cost of Living Comparison Between Grundarfjordur and Reykjavik

For one person, living is cheaper in Grundarfjordur: $1,713 a month against $4,040 in Reykjavik, rent and utilities included – about $27,900 less a year. Rent and utilities account for most of the difference.

83

Cost of Living Index in Grundarfjordur
Learn more

Grundarfjordur Living Index
194

Cost of Living Index in Reykjavik
Learn more

Reykjavik Living Index

Jump to prices

Grundarfjordur

🇮🇸 Iceland

$1,713

/mo nomad

Reykjavik

🇮🇸 Iceland

$4,040

/mo nomad

Monthly Cost of Living

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

Monthly costs for one person with rent: $1,713 in Grundarfjordur versus $4,040 in Reykjavik.

Grundarfjordur $1,713
Reykjavik $4,040

Estimated couple costs with rent: $2,918 in Grundarfjordur versus $5,742 in Reykjavik.

Grundarfjordur $2,918
Reykjavik $5,742

Monthly costs for a family of three with rent: $4,122 in Grundarfjordur versus $7,445 in Reykjavik.

Grundarfjordur $4,122
Reykjavik $7,445

Living in Grundarfjordur costs roughly 58% less than in Reykjavik, and outside of rent the biggest gap is in transport.

Both cities are pricier than the global median: Grundarfjordur 26% above, Reykjavik 197% above.

Meal at Budget Restaurant

$30.53 ISK 3,720

$31.42 ISK 3,829

-2.83%

Three-Course Dinner for Two, Mid-Range

$124 ISK 15.1K

$125 ISK 15.2K

-0.76%

Fast Food Meal (McDonalds, etc)

$27.06 ISK 3,298

$27.18 ISK 3,312

-0.44%

Cappuccino

$6.61 ISK 805

$6.65 ISK 810

-0.60%

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

$3.34 ISK 407

$3.41 ISK 415

-2.05%

Water (0.33 liter bottle)

$3.03 ISK 370

$3.04 ISK 371

-0.33%

Local Beer (0.5 liter draught)

$14.17 ISK 1,726

$14.18 ISK 1,728

-0.07%

Imported Beer (0.33 liter bottle)

$12.21 ISK 1,488

$12.16 ISK 1,482

0.41%

Milk (1 liter)

$2.09 ISK 255

$2.10 ISK 256

-0.48%

White Bread (500g)

$4.11 ISK 501

$4.14 ISK 504

-0.72%

Rice (white) (1kg)

$3.73 ISK 455

$3.69 ISK 449

1.08%

Eggs

$6.93 ISK 845

$7.09 ISK 863

-2.26%

Local Cheese (1kg)

$21.76 ISK 2,651

$22.32 ISK 2,719

-2.51%

Chicken Fillets (1kg)

$24.62 ISK 2,999

$24.78 ISK 3,019

-0.65%

Beef Round Steak (1kg)

$42.23 ISK 5,145

$42.67 ISK 5,199

-1.03%

Apples (1kg)

$3.31 ISK 403

$3.29 ISK 401

0.61%

Banana (1kg)

$2.77 ISK 337

$2.88 ISK 351

-3.82%

Oranges (1kg)

$3.16 ISK 385

$3.27 ISK 398

-3.36%

Tomato (1kg)

$6.32 ISK 770

$6.37 ISK 776

-0.78%

Potato (1kg)

$4.01 ISK 488

$3.96 ISK 483

1.26%

Onion (1kg)

$1.65 ISK 201

$1.62 ISK 197

1.85%

Lettuce (1 head)

$3.84 ISK 467

$3.70 ISK 451

3.78%

Water (1.5 liter bottle)

$1.77 ISK 216

$1.77 ISK 215

Cigarettes 20 Pack (Marlboro, Camel)

$14.16 ISK 1,725

$13.66 ISK 1,664

3.66%

Wine (Bottle)

$23.44 ISK 2,856

$24.16 ISK 2,944

-2.98%

Local Beer (0.5 liter bottle)

$3.69 ISK 450

$3.66 ISK 445

0.82%

Imported Beer (0.33 liter bottle)

$3.48 ISK 424

$3.43 ISK 417

1.46%

One-way Ticket (Public Transport)

$5.49 ISK 669

Public Transport Monthly Pass (Regular Price)

$96.1 ISK 11.7K

Taxi Start (Normal Tariff)

$6.59 ISK 802

$6.85 ISK 834

-3.80%

Taxi (Normal Tariff) (1km)

$2.80 ISK 341

$2.90 ISK 353

-3.45%

Taxi 1hour Waiting (Normal Tariff)

$80.5 ISK 9,808

$81.8 ISK 9,971

-1.64%

Gasoline (1 liter)

$2.10 ISK 256

$2.02 ISK 246

3.96%

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

$68.8K ISK 8.4M

$68.2K ISK 8.3M

0.89%

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

$55.0K ISK 6.7M

$56.3K ISK 6.9M

-2.26%

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

$97.0 ISK 11.8K

$95.9 ISK 11.7K

1.13%

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

$32.92 ISK 4,011

$32.16 ISK 3,918

2.36%

Internet (50+ Mbps, Unlimited Data)

$86.2 ISK 10.5K

$86.4 ISK 10.5K

-0.22%

Gym Membership (Monthly)

$96.9 ISK 11.8K

Tennis Court (1 Hour on Weekend)

$51.2 ISK 6,238

Cinema Ticket

$19.36 ISK 2,359

$19.28 ISK 2,349

0.41%

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

$1,182 ISK 144.0K

$1,178 ISK 143.5K

0.32%

International Primary School, 1 Child (Yearly)

$26.3K ISK 3.2M

$25.8K ISK 3.1M

2.20%

Jeans (Levis 501 Or Similar)

$148 ISK 18.0K

$152 ISK 18.5K

-2.80%

Summer Dress (H&M, Zara, etc)

$66.1 ISK 8,059

$66.5 ISK 8,105

-0.57%

Sport Shoes (Adidas, Nike)

$185 ISK 22.5K

$183 ISK 22.3K

0.95%

Men's Leather Business Shoes

$247 ISK 30.1K

$246 ISK 29.9K

0.47%

1-bedroom Apartment, City Center (Monthly)

$2,585 ISK 314.9K

1-bedroom Apartment, Outside City Center (Monthly)

$2,098 ISK 255.6K

3-bedroom Apartment, City Center (Monthly)

$3,513 ISK 428.1K

3-bedroom Apartment, Outside City Center (Monthly)

$2,792 ISK 340.1K

Buy Apartment in City Center (m2)

$8,038 ISK 979.3K

Buy Apartment Outside City Center (m2)

$1,098 ISK 133.8K

$6,305 ISK 768.2K

-82.59%

Average Monthly Net Salary (After Tax)

$4,549 ISK 554.3K

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 Grundarfjordur: October 24, 2026

Last update for Reykjavik: October 25, 2026

Monthly budget structure

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

Groceries & Markets

Grundarfjordur

$621 36.3%

Reykjavik

$628 15.5% 1% $6.2

Eating Out

Grundarfjordur

$525 30.7%

Reykjavik

$534 13.2% 1.6% $8.3

Clothing & Footwear

Grundarfjordur

$291 17%

Reykjavik

$291 7.2% 0.3% $0.8

Monthly Utilities & Internet

Grundarfjordur

$216 12.6%

Reykjavik

$215 5.3% 0.8% $1.6

Sport & Entertainment

Grundarfjordur

$39 * 2.3%

Reykjavik

$135 3.4% 250% $97

Getting Around

Grundarfjordur

$21 * 1.2%

Reykjavik

$139 3.5% 577% $119

Accommodation & Living

Grundarfjordur

- * 0%

Reykjavik

$2.1K 51.9%

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

Cost Breakdown

Dining out: $124 in Grundarfjordur vs $125 in Reykjavik for a mid-range dinner for two. Groceries echo the gap at $621 vs $628 per month, with Grundarfjordur cheaper across the board.

Good to know

🇮🇸 Grundarfjordur

🇮🇸 Reykjavik

🕒 Local time

08:34 8:34 AM

Same time as Grundarfjordur

🌤 Weather

👥 Population

800

136,894 Capital

💱 Currency

Icelandic Króna ISK kr

📈 Exchange rate

1,000 ISK = 8.21 USD

1,000 ISK = 7.37 EUR

1,000 ISK = 8.21 USD

1,000 ISK = 7.37 EUR

Exchange rates and currency converter

On the map

Lowest

Highest

Between locations

Grundarfjordur Reykjavik 110 km

From you

Grundarfjordur
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

Grundarfjordur vs Reykjavik: Cost of Living - Frequently Asked Questions

Grundarfjordur wins on cost – living expenses run 58% lower than in Reykjavik. Housing and daily spending are where you’ll feel the difference most, making Grundarfjordur the obvious pick if budget is a priority.

You’d need roughly $2,570 in Grundarfjordur and $6,061 in Reykjavik to live well. The gap comes down to housing and overall price levels. Both cities are liveable on less, but these numbers represent actual comfort.

Childcare runs $1,182 in Grundarfjordur versus $1,178 in Reykjavik. Over years of preschool, even a modest monthly gap compounds into a major financial factor for families.

All in, you’ll spend $1,713 per month in Grundarfjordur versus $4,040 in Reykjavik – a 136% gap that adds up to real savings over time for anyone picking the cheaper option.

At $1,713 in Grundarfjordur versus $4,040 in Reykjavik, a $2,000 budget is realistic in Grundarfjordur but tight or insufficient in Reykjavik. The gap between the two cities makes Grundarfjordur 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, Grundarfjordur 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.