Last update: Oct 2026

Cost of Living Comparison Between Istanbul and Hafnarfjordur

For one person, living is cheaper in Istanbul: $1,550 a month against $3,877 in Hafnarfjordur, rent and utilities included – about $27,900 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
186

Cost of Living Index in Hafnarfjordur
Learn more

Hafnarfjordur Living Index

Jump to prices

Istanbul

🇹🇷 Turkey

$1,550

/mo nomad

Hafnarfjordur

🇮🇸 Iceland

$3,877

/mo nomad

Monthly Cost of Living

How much you'll spend in Istanbul and in Hafnarfjordur

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

A single person spends $1,550 per month in Istanbul vs $3,877 in Hafnarfjordur, rent included.

Istanbul $1,550
Hafnarfjordur $3,877

A couple spends around $2,415 per month in Istanbul vs $5,400 in Hafnarfjordur, rent included.

Istanbul $2,415
Hafnarfjordur $5,400

A family of three spends $3,281 per month in Istanbul vs $6,923 in Hafnarfjordur, rent included.

Istanbul $3,281
Hafnarfjordur $6,923

Istanbul is about 60% cheaper than Hafnarfjordur, and outside of rent the biggest gap is in groceries.

Both Istanbul and Hafnarfjordur sit above the global median – Istanbul by 15%, Hafnarfjordur by 187%.

Meal at Budget Restaurant

$12.30 ₺609

$31.03 ISK 3,763

-60.36%

Three-Course Dinner for Two, Mid-Range

$54.7 ₺2,708

$124 ISK 15.0K

-55.87%

Fast Food Meal (McDonalds, etc)

$9.22 ₺456

$16.27 ISK 1,973

-43.33%

Cappuccino

$4.40 ₺218

$6.88 ISK 835

-36.05%

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

$1.68 ₺83.1

$3.27 ISK 396

-48.62%

Water (0.33 liter bottle)

$0.59 ₺29.40

$3.07 ISK 372

-80.78%

Local Beer (0.5 liter draught)

$4.70 ₺233

$14.18 ISK 1,720

-66.85%

Imported Beer (0.33 liter bottle)

$5.91 ₺292

$12.22 ISK 1,482

-51.64%

Milk (1 liter)

$1.21 ₺60.0

$1.70 ISK 207

-28.82%

White Bread (500g)

$0.89 ₺44.10

$4.18 ISK 507

-78.71%

Rice (white) (1kg)

$2.19 ₺108

$3.61 ISK 438

-39.34%

Eggs

$2.35 ₺116

$7.19 ISK 872

-67.32%

Local Cheese (1kg)

$10.42 ₺516

$21.88 ISK 2,654

-52.38%

Chicken Fillets (1kg)

$5.65 ₺280

$24.76 ISK 3,003

-77.18%

Beef Round Steak (1kg)

$20.94 ₺1,037

$42.29 ISK 5,130

-50.48%

Apples (1kg)

$1.90 ₺94.1

$3.41 ISK 413

-44.28%

Banana (1kg)

$2.31 ₺114

$2.50 ISK 303

-7.60%

Oranges (1kg)

$1.28 ₺63.1

$3.18 ISK 386

-59.75%

Tomato (1kg)

$1.80 ₺89.0

$6.33 ISK 767

-71.56%

Potato (1kg)

$0.65 ₺32.16

$3.87 ISK 469

-83.20%

Onion (1kg)

$0.64 ₺31.91

$1.69 ISK 205

-62.13%

Lettuce (1 head)

$1.25 ₺62.1

$3.69 ISK 447

-66.12%

Water (1.5 liter bottle)

$0.56 ₺27.58

$1.81 ISK 220

-69.06%

Cigarettes 20 Pack (Marlboro, Camel)

$2.37 ₺118

$13.80 ISK 1,674

-82.83%

Wine (Bottle)

$13.42 ₺664

$23.94 ISK 2,904

-43.94%

Local Beer (0.5 liter bottle)

$2.40 ₺119

$3.54 ISK 430

-32.20%

Imported Beer (0.33 liter bottle)

$3.48 ₺172

$3.43 ISK 416

1.46%

One-way Ticket (Public Transport)

$0.89 ₺43.84

$5.21 ISK 632

-82.92%

Public Transport Monthly Pass (Regular Price)

$67.4 ₺3,338

$85.4 ISK 10.4K

-21.05%

Taxi Start (Normal Tariff)

$1.29 ₺64.1

$6.58 ISK 798

-80.40%

Taxi (Normal Tariff) (1km)

$0.92 ₺45.70

$2.80 ISK 339

-67.14%

Taxi 1hour Waiting (Normal Tariff)

$10.96 ₺542

$80.9 ISK 9,810

-86.45%

Gasoline (1 liter)

$1.47 ₺72.9

$2.04 ISK 248

-27.94%

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

$50.8K ₺2.5M

$51.3K ISK 6.2M

-1.03%

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

$44.5K ₺2.2M

$53.3K ISK 6.5M

-16.47%

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

$88.6 ₺4,387

$70.7 ISK 8,571

25.39%

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

$11.59 ₺574

$33.02 ISK 4,005

-64.90%

Internet (50+ Mbps, Unlimited Data)

$15.81 ₺783

$87.0 ISK 10.6K

-81.83%

Gym Membership (Monthly)

$77.2 ₺3,820

$64.9 ISK 7,870

18.93%

Tennis Court (1 Hour on Weekend)

$22.74 ₺1,126

Cinema Ticket

$8.14 ₺403

$17.05 ISK 2,068

-52.26%

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

$1,008 ₺49.9K

$1,196 ISK 145.1K

-15.71%

International Primary School, 1 Child (Yearly)

$25.6K ₺1.3M

$25.8K ISK 3.1M

-0.84%

Jeans (Levis 501 Or Similar)

$54.0 ₺2,671

$124 ISK 15.0K

-56.37%

Summer Dress (H&M, Zara, etc)

$40.83 ₺2,021

$65.8 ISK 7,980

-37.94%

Sport Shoes (Adidas, Nike)

$98.9 ₺4,895

$125 ISK 15.2K

-20.93%

Men's Leather Business Shoes

$96.6 ₺4,783

$252 ISK 30.6K

-61.72%

1-bedroom Apartment, City Center (Monthly)

$985 ₺48.7K

$2,498 ISK 302.9K

-60.58%

1-bedroom Apartment, Outside City Center (Monthly)

$650 ₺32.2K

$2,087 ISK 253.1K

-68.86%

3-bedroom Apartment, City Center (Monthly)

$1,983 ₺98.2K

$3,226 ISK 391.3K

-38.53%

3-bedroom Apartment, Outside City Center (Monthly)

$1,180 ₺58.4K

$2,607 ISK 316.2K

-54.73%

Buy Apartment in City Center (m2)

$3,138 ₺155.4K

$7,085 ISK 859.4K

-55.71%

Buy Apartment Outside City Center (m2)

$1,780 ₺88.1K

$6,990 ISK 847.8K

-74.54%

Average Monthly Net Salary (After Tax)

$1,205 ₺59.7K

$4,751 ISK 576.2K

-74.63%

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 Hafnarfjordur: October 12, 2026

Monthly budget structure

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

Accommodation & Living

Istanbul

$650 41.9%

Hafnarfjordur

$2.1K 53.8% 221% $1.4K

Groceries & Markets

Istanbul

$260 16.8%

Hafnarfjordur

$619 16% 138% $359

Eating Out

Istanbul

$223 14.4%

Hafnarfjordur

$500 12.9% 124% $277

Clothing & Footwear

Istanbul

$131 8.4%

Hafnarfjordur

$255 6.6% 95.3% $124

Monthly Utilities & Internet

Istanbul

$116 7.5%

Hafnarfjordur

$191 4.9% 64.4% $75

Sport & Entertainment

Istanbul

$93 6%

Hafnarfjordur

$99 2.6% 5.9% $5.5

Getting Around

Istanbul

$77 5%

Hafnarfjordur

$127 3.3% 65% $50

Cost Breakdown

A central one-bedroom costs $985 in Istanbul versus $2,498 in Hafnarfjordur. 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 294% 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 $55.0 in Istanbul versus $124 in Hafnarfjordur. Monthly groceries follow the same trend: $260 vs $619 – making Istanbul the more affordable choice for daily food spending.

Good to know

🇹🇷 Istanbul

🇮🇸 Hafnarfjordur

🕒 Local time

07:04 7:04 AM

04:04 4:04 AM

3 h behind Istanbul

🌤 Weather

👥 Population

15,701,602

31,525

💱 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

Lowest

Highest

Between locations

Istanbul Hafnarfjordur 4,120 km ≈ 6 h nonstop flight

From you

Istanbul
Hafnarfjordur

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 Hafnarfjordur: Cost of Living - Frequently Asked Questions

Hafnarfjordur costs about 150% more than Istanbul, and outside of rent the gap comes mainly from groceries. That's enough to noticeably affect everyday spending and lifestyle for anyone choosing between the two.

For a comfortable life, plan on about $2,325 per month in Istanbul and $5,816 in Hafnarfjordur. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Rent is clearly cheaper in Istanbul, 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 $1,550 in Istanbul and $3,877 in Hafnarfjordur. That's a gap of about 150%.

Public transport costs about 27% less in Istanbul. For daily commuters, that gap adds up to noticeable savings over a year.

A $1,500 monthly budget goes further in Istanbul, where all-in costs run around $1,550, than in Hafnarfjordur at $3,877. In Istanbul it covers expenses comfortably, while in Hafnarfjordur it requires careful planning or may not stretch far enough.

For digital nomads, it depends on budget. Istanbul costs $1,550 versus $3,877 in Hafnarfjordur. 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 Istanbul. 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.