Last update: Oct 2026

Cost of Living Comparison Between Istanbul and Keflavik

For one person, living is cheaper in Istanbul: $1,550 a month against $2,992 in Keflavik, rent and utilities included – about $17,300 less a year. Rent and utilities account for about half of the difference.

75

Cost of Living Index in Istanbul
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Istanbul Living Index
147

Cost of Living Index in Keflavik
Learn more

Keflavik Living Index

Jump to prices

Istanbul

🇹🇷 Turkey

$1,550

/mo nomad

Keflavik

🇮🇸 Iceland

$2,992

/mo nomad

Monthly Cost of Living

How much you'll spend in Istanbul and in Keflavik

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

A single person spends $1,550 per month in Istanbul vs $2,992 in Keflavik, rent included.

Istanbul $1,550
Keflavik $2,992

A couple spends around $2,415 per month in Istanbul vs $4,538 in Keflavik, rent included.

Istanbul $2,415
Keflavik $4,538

A family of three spends $3,281 per month in Istanbul vs $6,084 in Keflavik, rent included.

Istanbul $3,281
Keflavik $6,084

Istanbul is about 48% cheaper than Keflavik, and outside of rent the biggest gap is in groceries.

Both Istanbul and Keflavik sit above the global median – Istanbul by 15%, Keflavik by 122%.

Meal at Budget Restaurant

$12.30 ₺609

$24.71 ISK 2,997

-50.22%

Three-Course Dinner for Two, Mid-Range

$54.7 ₺2,708

$124 ISK 15.0K

-55.74%

Fast Food Meal (McDonalds, etc)

$9.22 ₺456

$20.40 ISK 2,475

-54.80%

Cappuccino

$4.40 ₺218

$4.06 ISK 493

8.37%

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

$1.68 ₺83.1

$3.18 ISK 386

-47.17%

Water (0.33 liter bottle)

$0.59 ₺29.40

$3.19 ISK 387

-81.50%

Local Beer (0.5 liter draught)

$4.70 ₺233

$8.00 ISK 970

-41.25%

Imported Beer (0.33 liter bottle)

$5.91 ₺292

$8.34 ISK 1,012

-29.14%

Milk (1 liter)

$1.21 ₺60.0

$2.10 ISK 255

-42.38%

White Bread (500g)

$0.89 ₺44.10

$4.23 ISK 513

-78.96%

Rice (white) (1kg)

$2.19 ₺108

$2.53 ISK 307

-13.44%

Eggs

$2.35 ₺116

$6.32 ISK 767

-62.82%

Local Cheese (1kg)

$10.42 ₺516

$19.06 ISK 2,311

-45.33%

Chicken Fillets (1kg)

$5.65 ₺280

$24.38 ISK 2,958

-76.83%

Beef Round Steak (1kg)

$20.94 ₺1,037

$41.25 ISK 5,003

-49.24%

Apples (1kg)

$1.90 ₺94.1

$2.48 ISK 301

-23.39%

Banana (1kg)

$2.31 ₺114

$2.51 ISK 304

-7.97%

Oranges (1kg)

$1.28 ₺63.1

$2.44 ISK 296

-47.54%

Tomato (1kg)

$1.80 ₺89.0

$4.01 ISK 486

-55.11%

Potato (1kg)

$0.65 ₺32.16

$3.20 ISK 388

-79.69%

Onion (1kg)

$0.64 ₺31.91

$1.70 ISK 206

-62.35%

Lettuce (1 head)

$1.25 ₺62.1

$3.84 ISK 465

-67.45%

Water (1.5 liter bottle)

$0.56 ₺27.58

$1.78 ISK 215

-68.54%

Cigarettes 20 Pack (Marlboro, Camel)

$2.37 ₺118

$13.97 ISK 1,695

-83.04%

Wine (Bottle)

$13.42 ₺664

$16.58 ISK 2,012

-19.06%

Local Beer (0.5 liter bottle)

$2.40 ₺119

$3.61 ISK 438

-33.52%

Imported Beer (0.33 liter bottle)

$3.48 ₺172

$2.94 ISK 356

18.37%

One-way Ticket (Public Transport)

$0.89 ₺43.84

$3.68 ISK 446

-75.82%

Public Transport Monthly Pass (Regular Price)

$67.4 ₺3,338

$77.6 ISK 9,407

-13.05%

Taxi Start (Normal Tariff)

$1.29 ₺64.1

$6.63 ISK 804

-80.54%

Taxi (Normal Tariff) (1km)

$0.92 ₺45.70

$2.58 ISK 312

-64.34%

Taxi 1hour Waiting (Normal Tariff)

$10.96 ₺542

$80.2 ISK 9,727

-86.33%

Gasoline (1 liter)

$1.47 ₺72.9

$2.10 ISK 255

-30.00%

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

$50.8K ₺2.5M

$50.1K ISK 6.1M

1.28%

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

$44.5K ₺2.2M

$54.7K ISK 6.6M

-18.57%

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

$88.6 ₺4,387

$94.8 ISK 11.5K

-6.53%

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

$11.59 ₺574

$33.29 ISK 4,038

-65.18%

Internet (50+ Mbps, Unlimited Data)

$15.81 ₺783

$85.0 ISK 10.3K

-81.40%

Gym Membership (Monthly)

$77.2 ₺3,820

$78.5 ISK 9,526

-1.76%

Tennis Court (1 Hour on Weekend)

$22.74 ₺1,126

Cinema Ticket

$8.14 ₺403

$19.48 ISK 2,363

-58.21%

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

$1,008 ₺49.9K

$407 ISK 49.3K

147.88%

International Primary School, 1 Child (Yearly)

$25.6K ₺1.3M

$25.7K ISK 3.1M

-0.58%

Jeans (Levis 501 Or Similar)

$54.0 ₺2,671

$152 ISK 18.4K

-64.49%

Summer Dress (H&M, Zara, etc)

$40.83 ₺2,021

$65.4 ISK 7,934

-37.58%

Sport Shoes (Adidas, Nike)

$98.9 ₺4,895

$182 ISK 22.0K

-45.57%

Men's Leather Business Shoes

$96.6 ₺4,783

$191 ISK 23.1K

-49.33%

1-bedroom Apartment, City Center (Monthly)

$985 ₺48.7K

$1,896 ISK 230.0K

-48.08%

1-bedroom Apartment, Outside City Center (Monthly)

$650 ₺32.2K

$1,329 ISK 161.2K

-51.11%

3-bedroom Apartment, City Center (Monthly)

$1,983 ₺98.2K

$2,516 ISK 305.1K

-21.17%

3-bedroom Apartment, Outside City Center (Monthly)

$1,180 ₺58.4K

$2,061 ISK 250.0K

-42.74%

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

$3,752 ISK 455.0K

-67.87%

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 Keflavik: October 12, 2026

Monthly budget structure

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

Accommodation & Living

Istanbul

$650 41.9%

Keflavik

$1.3K 44.4% 105% $679

Groceries & Markets

Istanbul

$260 16.8%

Keflavik

$566 18.9% 118% $306

Eating Out

Istanbul

$223 14.4%

Keflavik

$390 13% 74.6% $167

Clothing & Footwear

Istanbul

$131 8.4%

Keflavik

$265 8.9% 103% $135

Monthly Utilities & Internet

Istanbul

$116 7.5%

Keflavik

$213 7.1% 83.7% $97

Sport & Entertainment

Istanbul

$93 6%

Keflavik

$118 3.9% 25.8% $24

Getting Around

Istanbul

$77 5%

Keflavik

$112 3.7% 45.4% $35

Cost Breakdown

A central one-bedroom costs $985 in Istanbul versus $1,896 in Keflavik. 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 211% higher in Keflavik, 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 Keflavik. Monthly groceries follow the same trend: $260 vs $566 – making Istanbul the more affordable choice for daily food spending.

Good to know

🇹🇷 Istanbul

🇮🇸 Keflavik

🕒 Local time

04:00 4:00 AM

01:00 1:00 AM

3 h behind Istanbul

🌤 Weather

👥 Population

15,701,602

15,000

💱 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 Keflavik 4,150 km ≈ 6 h nonstop flight

From you

Istanbul
Keflavik

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 Keflavik: Cost of Living - Frequently Asked Questions

Yes – Keflavik is pricier by about 93%, and outside of rent the gap shows up most in groceries.

For a comfortable life, plan on about $2,325 per month in Istanbul and $4,488 in Keflavik. 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.

Kindergarten costs $1,008 per month in Istanbul and $407 in Keflavik. For families with young kids, this one expense can tip the scales when choosing between the two cities.

Groceries cost about 118% more in Keflavik, though it depends on what you buy. Local produce may be comparable; imported and premium items show the biggest price gap.

A $1,500 monthly budget goes further in Istanbul, where all-in costs run around $1,550, than in Keflavik at $2,992. In Istanbul it covers expenses comfortably, while in Keflavik it requires careful planning or may not stretch far enough.

Families tend to lean toward Istanbul – lower housing and cheaper childcare make a real difference, especially on a single income or when paying for private education.

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, Keflavik makes more sense. Both are solid long-term options with distinct trade-offs.