Last update: Oct 2026

Cost of Living Comparison Between Hafnarfjordur and Budapest

For one person, living is cheaper in Budapest: $1,619 a month against $3,877 in Hafnarfjordur, rent and utilities included – about $27,100 less a year. Rent and utilities account for most of the difference.

186

Cost of Living Index in Hafnarfjordur
Learn more

Hafnarfjordur Living Index
79

Cost of Living Index in Budapest
Learn more

Budapest Living Index

Jump to prices

Hafnarfjordur

🇮🇸 Iceland

$3,877

/mo nomad

Budapest

🇭🇺 Hungary

$1,619

/mo nomad

Monthly Cost of Living

How much you'll spend in Hafnarfjordur and in Budapest

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

A single person spends $3,877 per month in Hafnarfjordur vs $1,619 in Budapest, rent included.

Hafnarfjordur $3,877
Budapest $1,619

A couple spends around $5,400 per month in Hafnarfjordur vs $2,524 in Budapest, rent included.

Hafnarfjordur $5,400
Budapest $2,524

A family of three spends $6,923 per month in Hafnarfjordur vs $3,429 in Budapest, rent included.

Hafnarfjordur $6,923
Budapest $3,429

Hafnarfjordur costs about 140% more than Budapest, and outside of rent the biggest gap is in groceries.

Both Hafnarfjordur and Budapest sit above the global median – Hafnarfjordur by 187%, Budapest by 20%.

Meal at Budget Restaurant

$31.03 ISK 3,763

$13.94 Ft 4,503

122.60%

Three-Course Dinner for Two, Mid-Range

$124 ISK 15.0K

$61.2 Ft 19.8K

102.48%

Fast Food Meal (McDonalds, etc)

$16.27 ISK 1,973

$10.19 Ft 3,291

59.67%

Cappuccino

$6.88 ISK 835

$3.26 Ft 1,055

111.04%

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

$3.27 ISK 396

$2.14 Ft 690

52.80%

Water (0.33 liter bottle)

$3.07 ISK 372

$1.78 Ft 577

72.47%

Local Beer (0.5 liter draught)

$14.18 ISK 1,720

$3.71 Ft 1,198

282.21%

Imported Beer (0.33 liter bottle)

$12.22 ISK 1,482

$3.77 Ft 1,217

224.14%

Milk (1 liter)

$1.70 ISK 207

$1.15 Ft 371

47.83%

White Bread (500g)

$4.18 ISK 507

$1.79 Ft 578

133.52%

Rice (white) (1kg)

$3.61 ISK 438

$2.49 Ft 804

44.98%

Eggs

$7.19 ISK 872

$3.90 Ft 1,261

84.36%

Local Cheese (1kg)

$21.88 ISK 2,654

$11.10 Ft 3,587

97.12%

Chicken Fillets (1kg)

$24.76 ISK 3,003

$6.62 Ft 2,139

274.02%

Beef Round Steak (1kg)

$42.29 ISK 5,130

$14.69 Ft 4,745

187.88%

Apples (1kg)

$3.41 ISK 413

$1.83 Ft 591

86.34%

Banana (1kg)

$2.50 ISK 303

$2.05 Ft 661

21.95%

Oranges (1kg)

$3.18 ISK 386

$2.37 Ft 765

34.18%

Tomato (1kg)

$6.33 ISK 767

$3.90 Ft 1,260

62.31%

Potato (1kg)

$3.87 ISK 469

$0.99 Ft 320

290.91%

Onion (1kg)

$1.69 ISK 205

$1.00 Ft 322

69.00%

Lettuce (1 head)

$3.69 ISK 447

$1.58 Ft 511

133.54%

Water (1.5 liter bottle)

$1.81 ISK 220

$0.67 Ft 216

170.15%

Cigarettes 20 Pack (Marlboro, Camel)

$13.80 ISK 1,674

$7.96 Ft 2,572

73.37%

Wine (Bottle)

$23.94 ISK 2,904

$6.22 Ft 2,009

284.89%

Local Beer (0.5 liter bottle)

$3.54 ISK 430

$1.27 Ft 411

178.74%

Imported Beer (0.33 liter bottle)

$3.43 ISK 416

$2.03 Ft 654

68.97%

One-way Ticket (Public Transport)

$5.21 ISK 632

$1.52 Ft 490

242.76%

Public Transport Monthly Pass (Regular Price)

$85.4 ISK 10.4K

$28.02 Ft 9,053

204.82%

Taxi Start (Normal Tariff)

$6.58 ISK 798

$3.31 Ft 1,070

98.79%

Taxi (Normal Tariff) (1km)

$2.80 ISK 339

$1.37 Ft 442

104.38%

Taxi 1hour Waiting (Normal Tariff)

$80.9 ISK 9,810

$19.83 Ft 6,406

307.87%

Gasoline (1 liter)

$2.04 ISK 248

$1.82 Ft 589

12.09%

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

$51.3K ISK 6.2M

$29.8K Ft 9.6M

72.22%

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

$53.3K ISK 6.5M

$33.8K Ft 10.9M

57.67%

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

$70.7 ISK 8,571

$171 Ft 55.3K

-58.70%

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

$33.02 ISK 4,005

$23.51 Ft 7,596

40.45%

Internet (50+ Mbps, Unlimited Data)

$87.0 ISK 10.6K

$23.29 Ft 7,526

273.64%

Gym Membership (Monthly)

$64.9 ISK 7,870

$67.5 Ft 21.8K

-3.92%

Tennis Court (1 Hour on Weekend)

$18.89 Ft 6,104

Cinema Ticket

$17.05 ISK 2,068

$9.30 Ft 3,004

83.33%

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

$1,196 ISK 145.1K

$533 Ft 172.3K

124.24%

International Primary School, 1 Child (Yearly)

$25.8K ISK 3.1M

$16.8K Ft 5.4M

53.83%

Jeans (Levis 501 Or Similar)

$124 ISK 15.0K

$99.6 Ft 32.2K

24.13%

Summer Dress (H&M, Zara, etc)

$65.8 ISK 7,980

$43.49 Ft 14.0K

51.28%

Sport Shoes (Adidas, Nike)

$125 ISK 15.2K

$110 Ft 35.7K

13.32%

Men's Leather Business Shoes

$252 ISK 30.6K

$119 Ft 38.4K

112.11%

1-bedroom Apartment, City Center (Monthly)

$2,498 ISK 302.9K

$830 Ft 268.3K

200.75%

1-bedroom Apartment, Outside City Center (Monthly)

$2,087 ISK 253.1K

$622 Ft 200.9K

235.53%

3-bedroom Apartment, City Center (Monthly)

$3,226 ISK 391.3K

$1,594 Ft 514.9K

102.45%

3-bedroom Apartment, Outside City Center (Monthly)

$2,607 ISK 316.2K

$1,170 Ft 378.1K

122.75%

Buy Apartment in City Center (m2)

$7,085 ISK 859.4K

$5,832 Ft 1.9M

21.50%

Buy Apartment Outside City Center (m2)

$6,990 ISK 847.8K

$3,889 Ft 1.3M

79.75%

Average Monthly Net Salary (After Tax)

$4,751 ISK 576.2K

$1,651 Ft 533.4K

187.73%

20-Year Fixed Mortgage Interest Rate (Annual %)

8.81

6.45

36.59%

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

Last update for Hafnarfjordur: October 12, 2026

Last update for Budapest: October 13, 2026

Monthly budget structure

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

Accommodation & Living

Hafnarfjordur

$2.1K 53.8%

Budapest

$622 38.4% 70.2% $1.5K

Groceries & Markets

Hafnarfjordur

$619 16%

Budapest

$258 15.9% 58.3% $361

Eating Out

Hafnarfjordur

$500 12.9%

Budapest

$223 13.8% 55.4% $277

Clothing & Footwear

Hafnarfjordur

$255 6.6%

Budapest

$168 10.4% 34.3% $87

Monthly Utilities & Internet

Hafnarfjordur

$191 4.9%

Budapest

$218 13.5% 14.3% $27

Getting Around

Hafnarfjordur

$127 3.3%

Budapest

$44 2.7% 65.1% $83

Sport & Entertainment

Hafnarfjordur

$99 2.6%

Budapest

$86 5.3% 13% $13

Cost Breakdown

A central one-bedroom costs $2,498 in Hafnarfjordur versus $830 in Budapest. Rent is usually the largest line item in a monthly budget, so the gap here sets the tone for the overall comparison.

Salaries run about 188% higher in Hafnarfjordur, which partly offsets the higher cost of living there. Purchasing power depends on which expenses matter most to you.

A mid-range dinner for two costs $124 in Hafnarfjordur versus $61.0 in Budapest. Monthly groceries follow the same trend: $619 vs $258 – making Budapest the more affordable choice for daily food spending.

Good to know

🇮🇸 Hafnarfjordur

🇭🇺 Budapest

🕒 Local time

02:36 2:36 AM

04:36 4:36 AM

2 h ahead of Hafnarfjordur

🌤 Weather

👥 Population

31,525

1,686,222 Capital

💱 Currency

Icelandic Króna ISK kr

Hungarian Forint HUF Ft

📈 Exchange rate

1,000 ISK = 8.24 USD

1,000 ISK = 7.33 EUR

1,000 HUF = 3.1 USD

1,000 HUF = 2.75 EUR

Exchange rates and currency converter

HUF, USD, EUR to ISK – Icelandic Króna Converter

🇺🇸 United States Dollar ($)

🇮🇸 Icelandic Króna (kr)

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).

Hungarian Forint exchange rates as of October 19, 2026: 1 USD = 323 HUF (1,000 HUF = 3.1 USD). 1 EUR = 363 HUF (1,000 HUF = 2.75 EUR).

USD to ISK in detail →

On the map

Lowest

Highest

Between locations

Hafnarfjordur Budapest 3,070 km ≈ 4 h 15 min nonstop flight

From you

Hafnarfjordur
Budapest

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

Hafnarfjordur vs Budapest: Cost of Living - Frequently Asked Questions

Yes – Hafnarfjordur is pricier by about 140%, and outside of rent the gap shows up most in groceries.

For a comfortable life, plan on about $5,816 per month in Hafnarfjordur and $2,428 in Budapest. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Rent is clearly cheaper in Budapest, especially for central apartments. Housing is actually the single biggest factor behind the overall cost gap between these two cities.

Public transport costs about 205% less in Budapest. For daily commuters, that gap adds up to noticeable savings over a year.

Kindergarten costs $1,196 per month in Hafnarfjordur and $533 in Budapest. For families with young kids, this one expense can tip the scales when choosing between the two cities.

A $2,500 monthly budget goes further in Budapest, where all-in costs run around $1,619, than in Hafnarfjordur at $3,877. In Budapest it covers expenses comfortably, while in Hafnarfjordur it requires careful planning or may not stretch far enough.

Families tend to lean toward Budapest – lower housing and cheaper childcare make a real difference, especially on a single income or when paying for private education.

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