Last update: Oct 2026

Cost of Living Comparison Between Istanbul and Selfoss

For one person, living is cheaper in Istanbul: $1,526 a month against $3,460 in Selfoss, rent and utilities included – about $23,200 less a year. Higher rent and utilities in Selfoss outweigh lower spending on other living expenses.

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Cost of Living Index in Istanbul
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Istanbul Living Index

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Istanbul

🇹🇷 Turkey

$1,526

/mo nomad

Selfoss

🇮🇸 Iceland

$3,460

/mo nomad

Monthly Cost of Living

How much you'll spend in Istanbul and in Selfoss

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

A single person spends $1,526 per month in Istanbul vs $3,460 in Selfoss, rent included.

Istanbul $1,526
Selfoss $3,460

A couple spends around $2,399 per month in Istanbul vs $2,461 in Selfoss, rent included.

Istanbul $2,399
Selfoss $2,461

A family of three spends $3,272 per month in Istanbul vs $1,462 in Selfoss, rent included.

Istanbul $3,272
Selfoss $1,462

Istanbul is about 56% cheaper than Selfoss, and outside of rent the biggest gap is in groceries.

Both Istanbul and Selfoss sit above the global median – Istanbul by 14%, Selfoss by 158%.

Meal at Budget Restaurant

$11.88 ₺585

Three-Course Dinner for Two, Mid-Range

$55.1 ₺2,714

Fast Food Meal (McDonalds, etc)

$9.14 ₺450

$20.81 ISK 2,538

-56.08%

Cappuccino

$4.24 ₺209

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

$1.75 ₺86.0

Water (0.33 liter bottle)

$0.54 ₺26.83

Local Beer (0.5 liter draught)

$4.69 ₺231

$12.20 ISK 1,488

-61.56%

Imported Beer (0.33 liter bottle)

$5.97 ₺294

Milk (1 liter)

$1.26 ₺62.1

$1.79 ISK 219

-29.61%

White Bread (500g)

$0.95 ₺46.81

$7.61 ISK 928

-87.52%

Rice (white) (1kg)

$2.31 ₺114

$4.46 ISK 544

-48.21%

Eggs

$2.47 ₺122

$6.56 ISK 800

-62.35%

Local Cheese (1kg)

$10.55 ₺520

$17.24 ISK 2,103

-38.81%

Chicken Fillets (1kg)

$5.60 ₺276

$21.77 ISK 2,655

-74.28%

Beef Round Steak (1kg)

$21.21 ₺1,045

$33.50 ISK 4,085

-36.69%

Apples (1kg)

$1.93 ₺95.1

$2.72 ISK 332

-29.04%

Banana (1kg)

$2.29 ₺113

$2.75 ISK 335

-16.73%

Oranges (1kg)

$1.28 ₺63.1

$2.65 ISK 324

-51.70%

Tomato (1kg)

$1.84 ₺90.8

$7.51 ISK 916

-75.50%

Potato (1kg)

$0.67 ₺32.86

$3.21 ISK 391

-79.13%

Onion (1kg)

$0.59 ₺29.31

$2.18 ISK 266

-72.94%

Lettuce (1 head)

$1.33 ₺65.4

$3.60 ISK 439

-63.06%

Water (1.5 liter bottle)

$0.59 ₺29.10

$1.44 ISK 175

-59.03%

Cigarettes 20 Pack (Marlboro, Camel)

$2.36 ₺116

$15.97 ISK 1,947

-85.22%

Wine (Bottle)

$13.47 ₺664

Local Beer (0.5 liter bottle)

$2.42 ₺119

Imported Beer (0.33 liter bottle)

$3.54 ₺174

$1.17 ISK 143

202.56%

One-way Ticket (Public Transport)

$0.83 ₺40.64

Public Transport Monthly Pass (Regular Price)

$66.5 ₺3,273

Taxi Start (Normal Tariff)

$1.35 ₺66.6

Taxi (Normal Tariff) (1km)

$0.85 ₺42.05

Taxi 1hour Waiting (Normal Tariff)

$10.86 ₺535

Gasoline (1 liter)

$1.47 ₺72.3

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

$51.6K ₺2.5M

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

$44.4K ₺2.2M

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

$89.2 ₺4,395

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

$11.60 ₺572

Internet (50+ Mbps, Unlimited Data)

$16.10 ₺793

Gym Membership (Monthly)

$77.3 ₺3,805

Tennis Court (1 Hour on Weekend)

$22.66 ₺1,116

Cinema Ticket

$8.34 ₺411

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

$974 ₺48.0K

International Primary School, 1 Child (Yearly)

$25.8K ₺1.3M

Jeans (Levis 501 Or Similar)

$52.7 ₺2,597

Summer Dress (H&M, Zara, etc)

$39.16 ₺1,929

Sport Shoes (Adidas, Nike)

$103 ₺5,083

Men's Leather Business Shoes

$96.6 ₺4,759

1-bedroom Apartment, City Center (Monthly)

$994 ₺49.0K

1-bedroom Apartment, Outside City Center (Monthly)

$629 ₺31.0K

$2,820 ISK 343.9K

-77.68%

3-bedroom Apartment, City Center (Monthly)

$2,024 ₺99.7K

3-bedroom Apartment, Outside City Center (Monthly)

$1,155 ₺56.9K

Buy Apartment in City Center (m2)

$3,160 ₺155.7K

Buy Apartment Outside City Center (m2)

$1,838 ₺90.5K

Average Monthly Net Salary (After Tax)

$1,203 ₺59.3K

20-Year Fixed Mortgage Interest Rate (Annual %)

41.09

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

Last update for Istanbul: October 3, 2026

Last update for Selfoss: October 4, 2026

Monthly budget structure

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

Accommodation & Living

Istanbul

$629 41.2%

Selfoss

–

Groceries & Markets

Istanbul

$264 17.3%

Selfoss

–

Eating Out

Istanbul

$218 14.3%

Selfoss

–

Clothing & Footwear

Istanbul

$131 8.6%

Selfoss

–

Monthly Utilities & Internet

Istanbul

$117 7.7%

Selfoss

–

Sport & Entertainment

Istanbul

$94 6.1%

Selfoss

–

Getting Around

Istanbul

$75 4.9%

Selfoss

–

Good to know

🇹🇷 Istanbul

🇮🇸 Selfoss

🕒 Local time

09:18 9:18 AM

06:18 6:18 AM

3 h behind Istanbul

🌤 Weather

👥 Population

15,701,602

9,000

💱 Currency

Turkish Lira TRY ₺

Icelandic Króna ISK kr

📈 Exchange rate

100 TRY = 2.03 USD

100 TRY = 1.81 EUR

1,000 ISK = 8.2 USD

1,000 ISK = 7.31 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 10, 2026: 1 USD = 49.26 TRY (100 TRY = 2.03 USD). 1 EUR = 55.25 TRY (100 TRY = 1.81 EUR).

Icelandic Króna exchange rates as of October 10, 2026: 1 USD = 122 ISK (1,000 ISK = 8.2 USD). 1 EUR = 137 ISK (1,000 ISK = 7.31 EUR).

USD to TRY in detail →

On the map

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Between locations

Istanbul Selfoss 4,070 km ≈ 6 h nonstop flight

From you

Istanbul
Selfoss

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 Selfoss: Cost of Living - Frequently Asked Questions

Yes – Selfoss is pricier by about 127%, and outside of rent the gap shows up most in groceries.

For a comfortable life, plan on about $2,289 per month in Istanbul and $5,190 in Selfoss. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Monthly expenses with rent come to $1,526 in Istanbul and $3,460 in Selfoss. That's a gap of about 127%.

Groceries cost about 99% more in Selfoss, 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 $1,526, than in Selfoss at $3,460. In Istanbul it covers expenses comfortably, while in Selfoss 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, Selfoss makes more sense. Both are solid long-term options with distinct trade-offs.