Last update: Oct 2026

Cost of Living Comparison Between Hafnarfjordur and Reykjavik

For one person, living is cheaper in Hafnarfjordur: $3,853 a month against $4,040 in Reykjavik, rent and utilities included – about $2,200 less a year. Other living expenses account for most of the difference.

184

Cost of Living Index in Hafnarfjordur
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Hafnarfjordur Living Index
194

Cost of Living Index in Reykjavik
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Reykjavik Living Index

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Hafnarfjordur

🇮🇸 Iceland

$3,853

/mo nomad

Reykjavik

🇮🇸 Iceland

$4,040

/mo nomad

Monthly Cost of Living

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

A single person spends $3,853 per month in Hafnarfjordur vs $4,040 in Reykjavik, rent included.

Hafnarfjordur $3,853
Reykjavik $4,040

A couple spends around $5,410 per month in Hafnarfjordur vs $5,742 in Reykjavik, rent included.

Hafnarfjordur $5,410
Reykjavik $5,742

A family of three spends $6,967 per month in Hafnarfjordur vs $7,445 in Reykjavik, rent included.

Hafnarfjordur $6,967
Reykjavik $7,445

Hafnarfjordur is about 5% cheaper than Reykjavik, and outside of rent the biggest gap is in clothing.

Both Hafnarfjordur and Reykjavik sit above the global median – Hafnarfjordur by 183%, Reykjavik by 197%.

Meal at Budget Restaurant

$31.04 ISK 3,768

$31.42 ISK 3,815

-1.21%

Three-Course Dinner for Two, Mid-Range

$125 ISK 15.1K

$125 ISK 15.2K

-0.24%

Fast Food Meal (McDonalds, etc)

$16.40 ISK 1,991

$27.18 ISK 3,300

-39.66%

Cappuccino

$6.71 ISK 814

$6.65 ISK 807

0.90%

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

$3.33 ISK 405

$3.41 ISK 414

-2.35%

Water (0.33 liter bottle)

$3.14 ISK 382

$3.04 ISK 369

3.29%

Local Beer (0.5 liter draught)

$14.02 ISK 1,703

$14.18 ISK 1,721

-1.13%

Imported Beer (0.33 liter bottle)

$12.11 ISK 1,470

$12.16 ISK 1,477

-0.41%

Milk (1 liter)

$1.67 ISK 203

$2.10 ISK 255

-20.48%

White Bread (500g)

$4.21 ISK 511

$4.14 ISK 502

1.69%

Rice (white) (1kg)

$3.71 ISK 450

$3.69 ISK 447

0.54%

Eggs

$7.26 ISK 881

$7.09 ISK 860

2.40%

Local Cheese (1kg)

$21.51 ISK 2,611

$22.32 ISK 2,709

-3.63%

Chicken Fillets (1kg)

$24.40 ISK 2,962

$24.78 ISK 3,008

-1.53%

Beef Round Steak (1kg)

$41.76 ISK 5,070

$42.67 ISK 5,181

-2.13%

Apples (1kg)

$3.24 ISK 394

$3.29 ISK 400

-1.52%

Banana (1kg)

$2.48 ISK 301

$2.88 ISK 350

-13.89%

Oranges (1kg)

$3.19 ISK 388

$3.27 ISK 397

-2.45%

Tomato (1kg)

$6.41 ISK 779

$6.37 ISK 773

0.63%

Potato (1kg)

$3.93 ISK 477

$3.96 ISK 481

-0.76%

Onion (1kg)

$1.64 ISK 200

$1.62 ISK 197

1.23%

Lettuce (1 head)

$3.69 ISK 448

$3.70 ISK 449

-0.27%

Water (1.5 liter bottle)

$1.82 ISK 221

$1.77 ISK 215

2.82%

Cigarettes 20 Pack (Marlboro, Camel)

$14.04 ISK 1,705

$13.66 ISK 1,658

2.78%

Wine (Bottle)

$24.05 ISK 2,920

$24.16 ISK 2,933

-0.46%

Local Beer (0.5 liter bottle)

$3.53 ISK 428

$3.66 ISK 444

-3.55%

Imported Beer (0.33 liter bottle)

$3.38 ISK 411

$3.43 ISK 416

-1.46%

One-way Ticket (Public Transport)

$5.10 ISK 620

$5.49 ISK 666

-7.10%

Public Transport Monthly Pass (Regular Price)

$85.0 ISK 10.3K

$96.1 ISK 11.7K

-11.58%

Taxi Start (Normal Tariff)

$6.92 ISK 840

$6.85 ISK 831

1.02%

Taxi (Normal Tariff) (1km)

$2.84 ISK 345

$2.90 ISK 352

-2.07%

Taxi 1hour Waiting (Normal Tariff)

$80.8 ISK 9,811

$81.8 ISK 9,935

-1.26%

Gasoline (1 liter)

$2.00 ISK 243

$2.02 ISK 245

-0.99%

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

$68.7K ISK 8.3M

$68.2K ISK 8.3M

0.84%

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

$55.8K ISK 6.8M

$56.3K ISK 6.8M

-0.99%

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

$69.4 ISK 8,419

$95.9 ISK 11.6K

-27.71%

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

$32.65 ISK 3,964

$32.16 ISK 3,904

1.52%

Internet (50+ Mbps, Unlimited Data)

$85.0 ISK 10.3K

$86.4 ISK 10.5K

-1.64%

Gym Membership (Monthly)

$65.1 ISK 7,900

$96.9 ISK 11.8K

-32.82%

Tennis Court (1 Hour on Weekend)

$51.2 ISK 6,216

Cinema Ticket

$17.08 ISK 2,073

$19.28 ISK 2,340

-11.41%

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

$1,172 ISK 142.3K

$1,178 ISK 143.0K

-0.50%

International Primary School, 1 Child (Yearly)

$25.9K ISK 3.1M

$25.8K ISK 3.1M

0.39%

Jeans (Levis 501 Or Similar)

$125 ISK 15.1K

$152 ISK 18.5K

-18.03%

Summer Dress (H&M, Zara, etc)

$67.1 ISK 8,150

$66.5 ISK 8,076

0.93%

Sport Shoes (Adidas, Nike)

$124 ISK 15.1K

$183 ISK 22.3K

-32.10%

Men's Leather Business Shoes

$246 ISK 29.9K

$246 ISK 29.8K

0.26%

1-bedroom Apartment, City Center (Monthly)

$2,496 ISK 303.1K

$2,585 ISK 313.8K

-3.41%

1-bedroom Apartment, Outside City Center (Monthly)

$2,075 ISK 251.8K

$2,098 ISK 254.7K

-1.13%

3-bedroom Apartment, City Center (Monthly)

$3,232 ISK 392.3K

$3,513 ISK 426.5K

-8.01%

3-bedroom Apartment, Outside City Center (Monthly)

$2,670 ISK 324.2K

$2,792 ISK 338.9K

-4.36%

Buy Apartment in City Center (m2)

$7,011 ISK 851.1K

$8,038 ISK 975.8K

-12.78%

Buy Apartment Outside City Center (m2)

$7,014 ISK 851.6K

$6,305 ISK 765.5K

11.25%

Average Monthly Net Salary (After Tax)

$4,674 ISK 567.4K

$4,549 ISK 552.3K

2.74%

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 Hafnarfjordur: October 24, 2026

Last update for Reykjavik: October 25, 2026

Monthly budget structure

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

Accommodation & Living

Hafnarfjordur

$2.1K 53.8%

Reykjavik

$2.1K 51.9% 1.1% $24

Groceries & Markets

Hafnarfjordur

$615 16%

Reykjavik

$628 15.5% 2.1% $13

Eating Out

Hafnarfjordur

$498 12.9%

Reykjavik

$534 13.2% 7.1% $36

Clothing & Footwear

Hafnarfjordur

$253 6.6%

Reykjavik

$291 7.2% 15.1% $38

Monthly Utilities & Internet

Hafnarfjordur

$187 4.9%

Reykjavik

$215 5.3% 14.7% $28

Getting Around

Hafnarfjordur

$127 3.3%

Reykjavik

$139 3.5% 10.2% $13

Sport & Entertainment

Hafnarfjordur

$99 2.6%

Reykjavik

$135 3.4% 36.5% $36

Cost Breakdown

A central one-bedroom costs $2,496 in Hafnarfjordur versus $2,585 in Reykjavik. 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 3% higher in Hafnarfjordur, which reinforces the cost advantage – you earn more and spend less. Purchasing power leans clearly in its favor.

A mid-range dinner for two costs $125 in Hafnarfjordur versus $125 in Reykjavik. Monthly groceries follow the same trend: $615 vs $628 – making Hafnarfjordur the more affordable choice for daily food spending.

Good to know

🇮🇸 Hafnarfjordur

🇮🇸 Reykjavik

🕒 Local time

02:55 2:55 AM

Same time as Hafnarfjordur

🌤 Weather

👥 Population

31,525

136,894 Capital

💱 Currency

Icelandic Króna ISK kr

📈 Exchange rate

1,000 ISK = 8.24 USD

1,000 ISK = 7.38 EUR

1,000 ISK = 8.24 USD

1,000 ISK = 7.38 EUR

Exchange rates and currency converter

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Hafnarfjordur Reykjavik 9 km

From you

Hafnarfjordur
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

Hafnarfjordur vs Reykjavik: Cost of Living - Frequently Asked Questions

Reykjavik costs about 5% more than Hafnarfjordur, and outside of rent the gap comes mainly from clothing. That’s enough to noticeably affect everyday spending and lifestyle for anyone choosing between the two.

For a comfortable life, plan on about $5,780 per month in Hafnarfjordur and $6,061 in Reykjavik. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

A central 1-bedroom goes for about $2,496 in Hafnarfjordur and $2,585 in Reykjavik. The gap holds across neighborhoods – outer areas show a similar spread, just at lower price points.

Monthly expenses with rent come to $3,853 in Hafnarfjordur and $4,040 in Reykjavik. That makes Hafnarfjordur about 5% cheaper.

Public transport costs about 12% less in Hafnarfjordur. For daily commuters, that gap adds up to noticeable savings over a year.

$2,000 is a stretch for both – monthly costs hit $3,853 in Hafnarfjordur and $4,040 in Reykjavik. You’ll need shared housing and careful budgeting no matter which city you pick.

It depends on your priorities. Reykjavik has an edge in some lifestyle areas, with costs from $3,853 in Hafnarfjordur to $4,040 in Reykjavik. 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.