Cost of Living Comparison Between Hafnarfjordur and Reykjavik Cost of Living Comparison Between Hafnarfjordur and Reykjavik

Monthly Cost of Living

A single person spends $3,743 per month in Hafnarfjordur vs $3,849 in Reykjavik, rent included.

A couple spends around $5,243 per month in Hafnarfjordur vs $5,457 in Reykjavik, rent included.

A family of three spends $6,742 per month in Hafnarfjordur vs $7,065 in Reykjavik, rent included.

Hafnarfjordur is about 3% cheaper than Reykjavik, driven mainly by Clothing & Footwear.

Both Hafnarfjordur and Reykjavik sit above the global median – Hafnarfjordur by 181%, Reykjavik by 189%.

Meal at Budget Restaurant

$26.51 ISK 3,277

$26.85 ISK 3,319

-1.27%

Three-Course Dinner for Two, Mid-Range

$145 ISK 18.0K

$142 ISK 17.6K

2.31%

Fast Food Meal (McDonalds, etc)

$16.15 ISK 1,997

$22.18 ISK 2,741

-27.19%

Cappuccino

$5.95 ISK 735

$6.17 ISK 763

-3.57%

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

$3.26 ISK 403

$3.24 ISK 401

0.62%

Water (0.33 liter bottle)

$2.61 ISK 323

$2.62 ISK 324

-0.38%

Local Beer (0.5 liter draught)

$12.64 ISK 1,562

$12.69 ISK 1,569

-0.39%

Imported Beer (0.33 liter bottle)

$11.36 ISK 1,404

$11.39 ISK 1,408

-0.26%

Milk (1 liter)

$1.69 ISK 209

$1.87 ISK 231

-9.63%

White Bread (500g)

$4.31 ISK 532

$4.30 ISK 531

0.23%

Rice (white) (1kg)

$3.56 ISK 440

Eggs

$6.21 ISK 767

$6.28 ISK 777

-1.11%

Local Cheese (1kg)

$18.06 ISK 2,232

$18.25 ISK 2,255

-1.04%

Chicken Fillets (1kg)

$23.82 ISK 2,944

$23.69 ISK 2,929

0.55%

Beef Round Steak (1kg)

$43.07 ISK 5,324

$42.14 ISK 5,209

2.21%

Apples (1kg)

$3.35 ISK 414

$3.33 ISK 412

0.60%

Banana (1kg)

$2.34 ISK 289

$2.41 ISK 298

-2.90%

Oranges (1kg)

$3.14 ISK 388

$3.00 ISK 370

4.67%

Tomato (1kg)

$5.03 ISK 622

$5.12 ISK 633

-1.76%

Potato (1kg)

$3.67 ISK 453

$3.58 ISK 442

2.51%

Onion (1kg)

$2.40 ISK 296

$2.36 ISK 292

1.69%

Lettuce (1 head)

$3.07 ISK 380

$3.14 ISK 388

-2.23%

Water (1.5 liter bottle)

$1.92 ISK 237

$2.03 ISK 251

-5.42%

Cigarettes 20 Pack (Marlboro, Camel)

$13.77 ISK 1,703

$13.89 ISK 1,717

-0.86%

Wine (Bottle)

$23.38 ISK 2,890

Local Beer (0.5 liter bottle)

$3.64 ISK 450

$3.58 ISK 442

1.68%

Imported Beer (0.33 liter bottle)

$3.21 ISK 397

One-way Ticket (Public Transport)

$5.19 ISK 642

$5.09 ISK 629

1.96%

Public Transport Monthly Pass (Regular Price)

$83.2 ISK 10.3K

$86.7 ISK 10.7K

-4.06%

Taxi Start (Normal Tariff)

$6.47 ISK 800

$6.37 ISK 787

1.57%

Taxi (Normal Tariff) (1km)

$2.52 ISK 312

$2.56 ISK 316

-1.56%

Taxi 1hour Waiting (Normal Tariff)

$85.7 ISK 10.6K

$86.9 ISK 10.7K

-1.37%

Gasoline (1 liter)

$2.45 ISK 303

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

$46.5K ISK 5.7M

$48.1K ISK 5.9M

-3.44%

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

$52.0K ISK 6.4M

$52.6K ISK 6.5M

-1.00%

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

$69.5 ISK 8,589

$87.4 ISK 10.8K

-20.46%

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

$27.05 ISK 3,344

$27.40 ISK 3,386

-1.28%

Internet (50+ Mbps, Unlimited Data)

$86.3 ISK 10.7K

$86.5 ISK 10.7K

-0.27%

Gym Membership (Monthly)

$64.1 ISK 7,917

$83.6 ISK 10.3K

-23.41%

Tennis Court (1 Hour on Weekend)

$37.79 ISK 4,671

Cinema Ticket

$16.45 ISK 2,033

$17.41 ISK 2,152

-5.51%

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

$321 ISK 39.7K

$322 ISK 39.8K

-0.19%

International Primary School, 1 Child (Yearly)

$30.1K ISK 3.7M

0.00%

Jeans (Levis 501 Or Similar)

$118 ISK 14.6K

$137 ISK 16.9K

-13.28%

Summer Dress (H&M, Zara, etc)

$60.9 ISK 7,527

$61.0 ISK 7,536

-0.11%

Sport Shoes (Adidas, Nike)

$121 ISK 15.0K

$181 ISK 22.4K

-33.19%

Men's Leather Business Shoes

$271 ISK 33.4K

$271 ISK 33.5K

-0.07%

1-bedroom Apartment, City Center (Monthly)

$2,379 ISK 294.1K

$2,228 ISK 275.4K

6.79%

1-bedroom Apartment, Outside City Center (Monthly)

$2,013 ISK 248.8K

$2,035 ISK 251.5K

-1.09%

3-bedroom Apartment, City Center (Monthly)

$3,196 ISK 395.0K

$3,171 ISK 392.0K

0.76%

3-bedroom Apartment, Outside City Center (Monthly)

$2,588 ISK 319.9K

$2,699 ISK 333.6K

-4.10%

Buy Apartment in City Center (m2)

$6,883 ISK 850.7K

$7,931 ISK 980.2K

-13.22%

Buy Apartment Outside City Center (m2)

$6,652 ISK 822.2K

$6,333 ISK 782.8K

5.04%

Average Monthly Net Salary (After Tax)

$4,538 ISK 560.9K

$4,563 ISK 564.0K

-0.55%

20-Year Fixed Mortgage Interest Rate (Annual %)

9.63

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

Last update for Hafnarfjordur: July 27, 2026

Last update for Reykjavik: July 28, 2026

Cost Breakdown

A central one-bedroom costs $2,379 in Hafnarfjordur versus $2,228 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 1% higher in Reykjavik, 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 $145 in Hafnarfjordur versus $142 in Reykjavik. Groceries tell a different story – $593 in Hafnarfjordur vs $593 in Reykjavik – so Hafnarfjordur wins on supermarket bills even if dining out costs more.

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 3% more than Hafnarfjordur, with the gap driven mainly by Clothing & Footwear. That's enough to noticeably affect everyday spending and lifestyle for anyone choosing between the two.

For a comfortable life, plan on about $5,615 per month in Hafnarfjordur and $5,774 in Reykjavik. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

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

Monthly expenses with rent come to $3,743 in Hafnarfjordur and $3,849 in Reykjavik. The difference isn't just one category – it shows up across housing, food, transport, and services.

Public transport costs about 4% 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 $3,743 in Hafnarfjordur and $3,849 in Reykjavik. You'll need shared housing and careful budgeting no matter which city you pick.

For digital nomads, it depends on budget. Hafnarfjordur costs $3,743 versus $3,849 in Reykjavik. Both have workable remote work infrastructure, but the cost gap matters when income varies month to month.

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