Last update: Oct 2026

Cost of Living Comparison Between Istanbul and Akranes

For one person, living is cheaper in Istanbul: $1,550 a month against $3,755 in Akranes, rent and utilities included – about $26,500 less a year. Rent and utilities account for most of the difference.

75

Cost of Living Index in Istanbul
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Istanbul Living Index
181

Cost of Living Index in Akranes
Learn more

Akranes Living Index

Jump to prices

Istanbul

🇹🇷 Turkey

$1,550

/mo nomad

Akranes

🇮🇸 Iceland

$3,755

/mo nomad

Monthly Cost of Living

How much you'll spend in Istanbul and in Akranes

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

Monthly costs for one person with rent: $1,550 in Istanbul versus $3,755 in Akranes.

Istanbul $1,550
Akranes $3,755

Estimated couple costs with rent: $2,415 in Istanbul versus $5,928 in Akranes.

Istanbul $2,415
Akranes $5,928

Monthly costs for a family of three with rent: $3,281 in Istanbul versus $8,101 in Akranes.

Istanbul $3,281
Akranes $8,101

Living in Istanbul costs roughly 59% less than in Akranes, and outside of rent the biggest gap is in groceries.

Both cities are pricier than the global median: Istanbul 15% above, Akranes 178% above.

Meal at Budget Restaurant

$12.30 ₺609

$30.83 ISK 3,740

-60.10%

Three-Course Dinner for Two, Mid-Range

$54.7 ₺2,708

$124 ISK 15.0K

-55.80%

Fast Food Meal (McDonalds, etc)

$9.22 ₺456

$27.33 ISK 3,315

-66.26%

Cappuccino

$4.40 ₺218

$6.00 ISK 728

-26.67%

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

$1.68 ₺83.1

$3.15 ISK 383

-46.67%

Water (0.33 liter bottle)

$0.59 ₺29.40

$2.48 ISK 301

-76.21%

Local Beer (0.5 liter draught)

$4.70 ₺233

$10.82 ISK 1,313

-56.56%

Imported Beer (0.33 liter bottle)

$5.91 ₺292

$8.31 ISK 1,008

-28.88%

Milk (1 liter)

$1.21 ₺60.0

$2.11 ISK 256

-42.65%

White Bread (500g)

$0.89 ₺44.10

$2.00 ISK 243

-55.50%

Rice (white) (1kg)

$2.19 ₺108

$3.71 ISK 450

-40.97%

Eggs

$2.35 ₺116

$6.05 ISK 734

-61.16%

Local Cheese (1kg)

$10.42 ₺516

$20.76 ISK 2,518

-49.81%

Chicken Fillets (1kg)

$5.65 ₺280

$23.98 ISK 2,909

-76.44%

Beef Round Steak (1kg)

$20.94 ₺1,037

$41.92 ISK 5,085

-50.05%

Apples (1kg)

$1.90 ₺94.1

$3.26 ISK 396

-41.72%

Banana (1kg)

$2.31 ₺114

$2.82 ISK 342

-18.09%

Oranges (1kg)

$1.28 ₺63.1

$3.12 ISK 379

-58.97%

Tomato (1kg)

$1.80 ₺89.0

$4.78 ISK 580

-62.34%

Potato (1kg)

$0.65 ₺32.16

$3.81 ISK 463

-82.94%

Onion (1kg)

$0.64 ₺31.91

$1.65 ISK 200

-61.21%

Lettuce (1 head)

$1.25 ₺62.1

$3.69 ISK 448

-66.12%

Water (1.5 liter bottle)

$0.56 ₺27.58

$1.84 ISK 224

-69.57%

Cigarettes 20 Pack (Marlboro, Camel)

$2.37 ₺118

$13.83 ISK 1,678

-82.86%

Wine (Bottle)

$13.42 ₺664

$24.02 ISK 2,913

-44.13%

Local Beer (0.5 liter bottle)

$2.40 ₺119

$2.91 ISK 353

-17.53%

Imported Beer (0.33 liter bottle)

$3.48 ₺172

$2.09 ISK 253

66.51%

One-way Ticket (Public Transport)

$0.89 ₺43.84

$3.71 ISK 450

-76.01%

Public Transport Monthly Pass (Regular Price)

$67.4 ₺3,338

$73.6 ISK 8,931

-8.42%

Taxi Start (Normal Tariff)

$1.29 ₺64.1

$6.69 ISK 812

-80.72%

Taxi (Normal Tariff) (1km)

$0.92 ₺45.70

$1.20 ISK 145

-23.33%

Taxi 1hour Waiting (Normal Tariff)

$10.96 ₺542

$80.0 ISK 9,704

-86.30%

Gasoline (1 liter)

$1.47 ₺72.9

$2.02 ISK 245

-27.23%

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

$50.8K ₺2.5M

$49.8K ISK 6.0M

2.01%

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

$44.5K ₺2.2M

$52.8K ISK 6.4M

-15.74%

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

$88.6 ₺4,387

$94.6 ISK 11.5K

-6.33%

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

$11.59 ₺574

$32.27 ISK 3,914

-64.08%

Internet (50+ Mbps, Unlimited Data)

$15.81 ₺783

$87.0 ISK 10.5K

-81.82%

Gym Membership (Monthly)

$77.2 ₺3,820

$104 ISK 12.7K

-26.02%

Tennis Court (1 Hour on Weekend)

$22.74 ₺1,126

Cinema Ticket

$8.14 ₺403

$19.49 ISK 2,364

-58.23%

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

$1,008 ₺49.9K

$1,197 ISK 145.2K

-15.77%

International Primary School, 1 Child (Yearly)

$25.6K ₺1.3M

$26.2K ISK 3.2M

-2.56%

Jeans (Levis 501 Or Similar)

$54.0 ₺2,671

$147 ISK 17.8K

-63.23%

Summer Dress (H&M, Zara, etc)

$40.83 ₺2,021

$67.2 ISK 8,151

-39.24%

Sport Shoes (Adidas, Nike)

$98.9 ₺4,895

$182 ISK 22.1K

-45.77%

Men's Leather Business Shoes

$96.6 ₺4,783

$253 ISK 30.7K

-61.88%

1-bedroom Apartment, City Center (Monthly)

$985 ₺48.7K

$3,026 ISK 367.0K

-67.46%

1-bedroom Apartment, Outside City Center (Monthly)

$650 ₺32.2K

$1,934 ISK 234.6K

-66.41%

3-bedroom Apartment, City Center (Monthly)

$1,983 ₺98.2K

$4,979 ISK 603.9K

-60.16%

3-bedroom Apartment, Outside City Center (Monthly)

$1,180 ₺58.4K

$3,759 ISK 455.9K

-68.60%

Buy Apartment in City Center (m2)

$3,138 ₺155.4K

Buy Apartment Outside City Center (m2)

$1,780 ₺88.1K

Average Monthly Net Salary (After Tax)

$1,205 ₺59.7K

$5,792 ISK 702.5K

-79.19%

20-Year Fixed Mortgage Interest Rate (Annual %)

40.92

8.81

364.47%

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

Last update for Istanbul: October 13, 2026

Last update for Akranes: October 12, 2026

Monthly budget structure

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

Accommodation & Living

Istanbul

$650 41.9%

Akranes

$1.9K 51.5% 198% $1.3K

Groceries & Markets

Istanbul

$260 16.8%

Akranes

$576 15.3% 122% $316

Eating Out

Istanbul

$223 14.4%

Akranes

$494 13.2% 121% $271

Clothing & Footwear

Istanbul

$131 8.4%

Akranes

$292 7.8% 124% $162

Monthly Utilities & Internet

Istanbul

$116 7.5%

Akranes

$214 5.7% 84.3% $98

Sport & Entertainment

Istanbul

$93 6%

Akranes

$143 3.8% 53.3% $50

Getting Around

Istanbul

$77 5%

Akranes

$101 2.7% 31.6% $24

Cost Breakdown

A one-bedroom apartment in the center runs $985 in Istanbul and $3,026 in Akranes. Housing cost is often the main lever when comparing two cities.

Akranes pays 380% 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: $55.0 in Istanbul vs $124 in Akranes for a mid-range dinner for two. Groceries echo the gap at $260 vs $576 per month, with Istanbul cheaper across the board.

Good to know

🇹🇷 Istanbul

🇮🇸 Akranes

🕒 Local time

08:25 8:25 AM

05:25 5:25 AM

3 h behind Istanbul

🌤 Weather

👥 Population

15,701,602

7,800

💱 Currency

Turkish Lira TRY ₺

Icelandic Króna ISK kr

📈 Exchange rate

100 TRY = 2.02 USD

100 TRY = 1.8 EUR

1,000 ISK = 8.24 USD

1,000 ISK = 7.33 EUR

Exchange rates and currency converter

ISK, USD, EUR to TRY – Turkish Lira Converter

🇺🇸 United States Dollar ($)

🇹🇷 Turkish Lira (₺)

Turkish Lira exchange rates as of October 19, 2026: 1 USD = 49.51 TRY (100 TRY = 2.02 USD). 1 EUR = 55.66 TRY (100 TRY = 1.8 EUR).

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).

USD to TRY in detail →

On the map

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Highest

Between locations

Istanbul Akranes 4,130 km ≈ 6 h nonstop flight

From you

Istanbul
Akranes

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

Istanbul vs Akranes: Cost of Living - Frequently Asked Questions

Istanbul wins on cost – living expenses run 142% lower than in Akranes. Housing and daily spending are where you'll feel the difference most, making Istanbul the obvious pick if budget is a priority.

On paper, salaries run 380% lower in Akranes. That's worth factoring in alongside costs, though remote workers earning in a stronger currency may not notice the difference at all.

Rent for a central apartment: $985 in Istanbul versus $3,026 in Akranes. Housing is usually the single largest factor when comparing overall living costs between the two.

All in, you'll spend $1,550 per month in Istanbul versus $3,755 in Akranes – a 142% gap that adds up to real savings over time for anyone picking the cheaper option.

A monthly transit pass in Istanbul runs roughly 9% less than in Akranes. Both cities have functional networks, but the price difference matters if you're watching your budget.

At $1,550 in Istanbul versus $3,755 in Akranes, a $1,500 budget is realistic in Istanbul but tight or insufficient in Akranes. The gap between the two cities makes Istanbul the clear choice for anyone on this budget.

Both work as nomad bases, but Istanbul delivers better value – similar infrastructure at $1,550 monthly. If stretching your runway or maximizing savings is the goal, the price difference makes Istanbul hard to pass up.

Safety-wise, Istanbul and Akranes 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 Istanbul gentler on the wallet – expenses run 142% less than in Akranes. Beyond cost, consider language, visa policies, and how big the international community is in each city.