Last update: Oct 2026

Cost of Living Comparison Between Keflavik and Akureyri

For one person, living is cheaper in Keflavik: $3,018 a month against $3,106 in Akureyri, rent and utilities included – about $1,100 less a year. Higher rent and utilities in Akureyri outweigh lower spending on other living expenses.

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Cost of Living Index in Keflavik
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Keflavik Living Index

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Keflavik

🇮🇸 Iceland

$3,018

/mo nomad

Akureyri

🇮🇸 Iceland

$3,106

/mo nomad

Monthly Cost of Living

How much you'll spend in Keflavik and in Akureyri

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

A single person spends $3,018 per month in Keflavik vs $3,106 in Akureyri, rent included.

Keflavik $3,018
Akureyri $3,106

A couple spends around $4,529 per month in Keflavik vs $4,176 in Akureyri, rent included.

Keflavik $4,529
Akureyri $4,176

A family of three spends $6,041 per month in Keflavik vs $5,246 in Akureyri, rent included.

Keflavik $6,041
Akureyri $5,246

Keflavik is about 3% cheaper than Akureyri, and outside of rent the biggest gap is in utilities.

Both Keflavik and Akureyri sit above the global median – Keflavik by 122%, Akureyri by 128%.

Meal at Budget Restaurant

$24.11 ISK 2,927

$24.94 ISK 3,028

-3.33%

Three-Course Dinner for Two, Mid-Range

$121 ISK 14.7K

$129 ISK 15.6K

-5.98%

Fast Food Meal (McDonalds, etc)

$20.25 ISK 2,458

$22.63 ISK 2,748

-10.52%

Cappuccino

$4.22 ISK 513

$5.04 ISK 611

-16.27%

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

$3.36 ISK 408

$3.35 ISK 406

0.30%

Water (0.33 liter bottle)

$3.03 ISK 368

$2.99 ISK 363

1.34%

Local Beer (0.5 liter draught)

$8.25 ISK 1,001

$11.22 ISK 1,362

-26.47%

Imported Beer (0.33 liter bottle)

$8.15 ISK 990

$9.62 ISK 1,168

-15.28%

Milk (1 liter)

$2.11 ISK 256

$2.77 ISK 337

-23.83%

White Bread (500g)

$4.21 ISK 512

$2.32 ISK 282

81.47%

Rice (white) (1kg)

$2.50 ISK 303

$3.14 ISK 382

-20.38%

Eggs

$6.55 ISK 796

$7.65 ISK 928

-14.38%

Local Cheese (1kg)

$19.70 ISK 2,391

$15.85 ISK 1,925

24.29%

Chicken Fillets (1kg)

$23.90 ISK 2,902

$24.82 ISK 3,013

-3.71%

Beef Round Steak (1kg)

$41.71 ISK 5,063

Apples (1kg)

$2.44 ISK 296

Banana (1kg)

$2.41 ISK 292

$2.92 ISK 354

-17.47%

Oranges (1kg)

$2.50 ISK 303

$3.45 ISK 419

-27.54%

Tomato (1kg)

$4.16 ISK 504

$6.08 ISK 738

-31.58%

Potato (1kg)

$3.12 ISK 378

Onion (1kg)

$1.64 ISK 199

Lettuce (1 head)

$3.62 ISK 440

Water (1.5 liter bottle)

$1.81 ISK 219

Cigarettes 20 Pack (Marlboro, Camel)

$13.85 ISK 1,681

$13.71 ISK 1,664

1.02%

Wine (Bottle)

$16.32 ISK 1,981

Local Beer (0.5 liter bottle)

$3.73 ISK 453

Imported Beer (0.33 liter bottle)

$2.81 ISK 341

One-way Ticket (Public Transport)

$3.68 ISK 447

Public Transport Monthly Pass (Regular Price)

$77.2 ISK 9,366

Taxi Start (Normal Tariff)

$6.35 ISK 771

Taxi (Normal Tariff) (1km)

$2.59 ISK 314

Taxi 1hour Waiting (Normal Tariff)

$80.2 ISK 9,738

Gasoline (1 liter)

$2.00 ISK 243

$2.59 ISK 314

-22.78%

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

$68.2K ISK 8.3M

$41.3K ISK 5.0M

65.19%

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

$55.2K ISK 6.7M

$65.2K ISK 7.9M

-15.31%

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

$95.8 ISK 11.6K

$121 ISK 14.7K

-20.73%

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

$32.13 ISK 3,900

$25.21 ISK 3,061

27.45%

Internet (50+ Mbps, Unlimited Data)

$84.5 ISK 10.3K

$165 ISK 20.0K

-48.67%

Gym Membership (Monthly)

$76.7 ISK 9,316

$84.3 ISK 10.2K

-8.95%

Cinema Ticket

$19.58 ISK 2,377

$15.53 ISK 1,885

26.08%

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

$406 ISK 49.3K

$367 ISK 44.6K

10.54%

International Primary School, 1 Child (Yearly)

$26.4K ISK 3.2M

Jeans (Levis 501 Or Similar)

$148 ISK 18.0K

$80.8 ISK 9,810

83.38%

Summer Dress (H&M, Zara, etc)

$66.8 ISK 8,104

Sport Shoes (Adidas, Nike)

$184 ISK 22.4K

$122 ISK 14.8K

51.04%

Men's Leather Business Shoes

$190 ISK 23.1K

1-bedroom Apartment, City Center (Monthly)

$1,862 ISK 226.0K

$1,835 ISK 222.7K

1.49%

1-bedroom Apartment, Outside City Center (Monthly)

$1,359 ISK 165.0K

$1,833 ISK 222.5K

-25.83%

3-bedroom Apartment, City Center (Monthly)

$2,527 ISK 306.7K

3-bedroom Apartment, Outside City Center (Monthly)

$2,040 ISK 247.7K

$2,186 ISK 265.4K

-6.66%

Buy Apartment in City Center (m2)

$6,596 ISK 800.8K

Buy Apartment Outside City Center (m2)

$6,483 ISK 787.1K

Average Monthly Net Salary (After Tax)

$3,819 ISK 463.6K

20-Year Fixed Mortgage Interest Rate (Annual %)

8.81

9.4

-6.28%

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

Last update for Keflavik: October 26, 2026

Last update for Akureyri: October 25, 2026

Monthly budget structure

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

Accommodation & Living

Keflavik

$1.4K 45%

Akureyri

–

Groceries & Markets

Keflavik

$566 18.8%

Akureyri

–

Eating Out

Keflavik

$387 12.8%

Akureyri

–

Clothing & Footwear

Keflavik

$265 8.8%

Akureyri

–

Monthly Utilities & Internet

Keflavik

$212 7%

Akureyri

–

Sport & Entertainment

Keflavik

$116 3.8%

Akureyri

–

Getting Around

Keflavik

$111 3.7%

Akureyri

–

Cost Breakdown

A central one-bedroom costs $1,862 in Keflavik versus $1,835 in Akureyri. Rent is usually the largest line item in a monthly budget, so the gap here sets the tone for the overall comparison.

A mid-range dinner for two costs $121 in Keflavik versus $129 in Akureyri. Groceries tell a different story – $566 in Keflavik vs $327 in Akureyri – so Akureyri wins on supermarket bills even if dining out costs more.

Good to know

🇮🇸 Keflavik

🇮🇸 Akureyri

🕒 Local time

20:55 8:55 PM

Same time as Keflavik

🌤 Weather

👥 Population

15,000

19,219

💱 Currency

Icelandic Króna ISK kr

📈 Exchange rate

1,000 ISK = 8.24 USD

1,000 ISK = 7.38 EUR

1,000 ISK = 8.24 USD

1,000 ISK = 7.38 EUR

Exchange rates and currency converter

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Keflavik Akureyri 280 km

From you

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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

Keflavik vs Akureyri: Cost of Living - Frequently Asked Questions

Yes – Akureyri is pricier by about 3%, and outside of rent the gap shows up most in utilities.

For a comfortable life, plan on about $4,526 per month in Keflavik and $4,659 in Akureyri. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

A central 1-bedroom goes for about $1,862 in Keflavik and $1,835 in Akureyri. The gap holds across neighborhoods – outer areas show a similar spread, just at lower price points.

A mid-range dinner for two costs $121 in Keflavik and $129 in Akureyri. That’s a good indicator of the overall restaurant and café pricing gap between the two cities.

Interestingly, groceries are about 42% cheaper in Akureyri – one category where the pricier city actually offers better value.

$2,000 is a stretch for both – monthly costs hit $3,018 in Keflavik and $3,106 in Akureyri. You’ll need shared housing and careful budgeting no matter which city you pick.

It depends on your priorities. Akureyri has an edge in some lifestyle areas, with costs from $3,018 in Keflavik to $3,106 in Akureyri. Climate, culture, job market, and personal taste all factor in.

Both cities have a reputation for safety. In either place, the choice of neighborhood matters more than the choice between the two cities.