Last update: Oct 2026

Cost of Living Comparison Between Istanbul and Grundarfjordur

For one person, living is cheaper in Istanbul: $1,550 a month against $1,722 in Grundarfjordur, rent and utilities included – about $2,100 less a year. The total is higher in Grundarfjordur despite lower rent and utilities.

75

Cost of Living Index in Istanbul
Learn more

Istanbul Living Index
84

Cost of Living Index in Grundarfjordur
Learn more

Grundarfjordur Living Index

Jump to prices

Istanbul

🇹🇷 Turkey

$1,550

/mo nomad

Grundarfjordur

🇮🇸 Iceland

$1,722

/mo nomad

Monthly Cost of Living

How much you'll spend in Istanbul and in Grundarfjordur

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 Grundarfjordur actually costs, broken down by who's living it.

Monthly costs for one person with rent: $1,550 in Istanbul versus $1,722 in Grundarfjordur.

Istanbul $1,550
Grundarfjordur $1,722

Estimated couple costs with rent: $2,415 in Istanbul versus $2,930 in Grundarfjordur.

Istanbul $2,415
Grundarfjordur $2,930

Monthly costs for a family of three with rent: $3,281 in Istanbul versus $4,138 in Grundarfjordur.

Istanbul $3,281
Grundarfjordur $4,138

Living in Istanbul costs roughly 10% less than in Grundarfjordur, and outside of rent the biggest gap is in groceries.

Both cities are pricier than the global median: Istanbul 15% above, Grundarfjordur 28% above.

Meal at Budget Restaurant

$12.30 ₺609

$31.43 ISK 3,813

-60.87%

Three-Course Dinner for Two, Mid-Range

$54.7 ₺2,708

$123 ISK 14.9K

-55.37%

Fast Food Meal (McDonalds, etc)

$9.22 ₺456

$27.34 ISK 3,318

-66.28%

Cappuccino

$4.40 ₺218

$6.73 ISK 816

-34.62%

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

$1.68 ₺83.1

$3.35 ISK 406

-49.85%

Water (0.33 liter bottle)

$0.59 ₺29.40

$3.02 ISK 367

-80.46%

Local Beer (0.5 liter draught)

$4.70 ₺233

$13.78 ISK 1,672

-65.89%

Imported Beer (0.33 liter bottle)

$5.91 ₺293

$12.34 ISK 1,497

-52.11%

Milk (1 liter)

$1.21 ₺60.0

$2.11 ISK 256

-42.65%

White Bread (500g)

$0.89 ₺44.10

$4.31 ISK 523

-79.35%

Rice (white) (1kg)

$2.19 ₺108

$3.60 ISK 437

-39.17%

Eggs

$2.35 ₺116

$7.15 ISK 868

-67.13%

Local Cheese (1kg)

$10.42 ₺516

$21.52 ISK 2,612

-51.58%

Chicken Fillets (1kg)

$5.65 ₺280

$24.59 ISK 2,984

-77.02%

Beef Round Steak (1kg)

$20.94 ₺1,037

$41.30 ISK 5,012

-49.30%

Apples (1kg)

$1.90 ₺94.1

$3.23 ISK 392

-41.18%

Banana (1kg)

$2.31 ₺114

$2.88 ISK 349

-19.79%

Oranges (1kg)

$1.28 ₺63.2

$3.27 ISK 397

-60.86%

Tomato (1kg)

$1.80 ₺89.0

$6.39 ISK 776

-71.83%

Potato (1kg)

$0.65 ₺32.17

$3.96 ISK 480

-83.59%

Onion (1kg)

$0.64 ₺31.92

$1.68 ISK 204

-61.90%

Lettuce (1 head)

$1.25 ₺62.1

$3.67 ISK 445

-65.94%

Water (1.5 liter bottle)

$0.56 ₺27.59

$1.83 ISK 222

-69.40%

Cigarettes 20 Pack (Marlboro, Camel)

$2.37 ₺118

$13.67 ISK 1,659

-82.66%

Wine (Bottle)

$13.42 ₺664

$23.72 ISK 2,878

-43.42%

Local Beer (0.5 liter bottle)

$2.40 ₺119

$3.53 ISK 428

-32.01%

Imported Beer (0.33 liter bottle)

$3.48 ₺172

$3.48 ISK 423

One-way Ticket (Public Transport)

$0.89 ₺43.84

Public Transport Monthly Pass (Regular Price)

$67.4 ₺3,339

Taxi Start (Normal Tariff)

$1.29 ₺64.1

$6.67 ISK 810

-80.66%

Taxi (Normal Tariff) (1km)

$0.92 ₺45.70

$2.90 ISK 352

-68.28%

Taxi 1hour Waiting (Normal Tariff)

$10.96 ₺543

$81.7 ISK 9,918

-86.59%

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

$51.5K ISK 6.3M

-1.40%

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

$44.5K ₺2.2M

$52.9K ISK 6.4M

-15.87%

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

$88.6 ₺4,388

$97.1 ISK 11.8K

-8.72%

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

$11.59 ₺574

$32.85 ISK 3,987

-64.72%

Internet (50+ Mbps, Unlimited Data)

$15.81 ₺783

$85.2 ISK 10.3K

-81.43%

Gym Membership (Monthly)

$77.2 ₺3,821

Tennis Court (1 Hour on Weekend)

$22.74 ₺1,126

Cinema Ticket

$8.14 ₺403

$19.40 ISK 2,354

-58.04%

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

$1,008 ₺49.9K

$1,191 ISK 144.5K

-15.35%

International Primary School, 1 Child (Yearly)

$25.6K ₺1.3M

$25.8K ISK 3.1M

-0.86%

Jeans (Levis 501 Or Similar)

$54.0 ₺2,671

$147 ISK 17.8K

-63.22%

Summer Dress (H&M, Zara, etc)

$40.83 ₺2,021

$66.1 ISK 8,026

-38.27%

Sport Shoes (Adidas, Nike)

$98.9 ₺4,896

$185 ISK 22.5K

-46.68%

Men's Leather Business Shoes

$96.6 ₺4,783

$253 ISK 30.7K

-61.82%

1-bedroom Apartment, City Center (Monthly)

$985 ₺48.7K

1-bedroom Apartment, Outside City Center (Monthly)

$650 ₺32.2K

3-bedroom Apartment, City Center (Monthly)

$1,983 ₺98.2K

3-bedroom Apartment, Outside City Center (Monthly)

$1,180 ₺58.4K

Buy Apartment in City Center (m2)

$3,138 ₺155.4K

Buy Apartment Outside City Center (m2)

$1,780 ₺88.1K

$1,121 ISK 136.0K

58.79%

Average Monthly Net Salary (After Tax)

$1,205 ₺59.7K

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 Grundarfjordur: October 10, 2026

Monthly budget structure

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

Accommodation & Living

Istanbul

$650 41.9%

Grundarfjordur

- * 0% 100%

Groceries & Markets

Istanbul

$260 16.8%

Grundarfjordur

$621 36.1% 139% $361

Eating Out

Istanbul

$223 14.4%

Grundarfjordur

$533 31% 139% $310

Clothing & Footwear

Istanbul

$131 8.4%

Grundarfjordur

$293 17% 124% $162

Monthly Utilities & Internet

Istanbul

$116 7.5%

Grundarfjordur

$215 12.5% 85.4% $99

Sport & Entertainment

Istanbul

$93 6%

Grundarfjordur

$39 * 2.3% 58.5% $55

Getting Around

Istanbul

$77 5%

Grundarfjordur

$21 * 1.2% 72.5% $56

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

Cost Breakdown

Dining out: $55.0 in Istanbul vs $123 in Grundarfjordur for a mid-range dinner for two. Groceries echo the gap at $260 vs $621 per month, with Istanbul cheaper across the board.

Good to know

🇹🇷 Istanbul

🇮🇸 Grundarfjordur

🕒 Local time

22:02 10:02 PM

19:02 7:02 PM

3 h behind Istanbul

🌤 Weather

👥 Population

15,701,602

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 = 7.35 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 16, 2026: 1 USD = 49.51 TRY (100 TRY = 2.02 USD). 1 EUR = 55.53 TRY (100 TRY = 1.8 EUR).

Icelandic Króna exchange rates as of October 16, 2026: 1 USD = 121 ISK (1,000 ISK = 8.24 USD). 1 EUR = 136 ISK (1,000 ISK = 7.35 EUR).

USD to TRY in detail →

On the map

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Highest

Between locations

Istanbul Grundarfjordur 4,200 km ≈ 6 h nonstop flight

From you

Istanbul
Grundarfjordur

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 Grundarfjordur: Cost of Living - Frequently Asked Questions

Istanbul wins on cost – living expenses run 11% lower than in Grundarfjordur. Housing and daily spending are where you'll feel the difference most, making Istanbul the obvious pick if budget is a priority.

You'd need roughly $2,325 in Istanbul and $2,584 in Grundarfjordur 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.

Supermarket bills run roughly 139% higher in Grundarfjordur. For households that cook at home regularly, that difference adds up over a month.

All in, you'll spend $1,550 per month in Istanbul versus $1,722 in Grundarfjordur – a 11% gap that adds up to real savings over time for anyone picking the cheaper option.

At $1,550 in Istanbul versus $1,722 in Grundarfjordur, a $1,500 budget is realistic in Istanbul but tight or insufficient in Grundarfjordur. 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 Grundarfjordur 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 11% less than in Grundarfjordur. Beyond cost, consider language, visa policies, and how big the international community is in each city.