Cost of Living Comparison Between Keflavik and Akureyri Cost of Living Comparison Between Keflavik and Akureyri

Monthly Cost of Living

A single person spends $3,069 per month in Keflavik vs $3,040 in Akureyri, rent included.

A couple spends around $4,595 per month in Keflavik vs $4,128 in Akureyri, rent included.

A family of three spends $6,122 per month in Keflavik vs $5,217 in Akureyri, rent included.

Keflavik costs about 1% more than Akureyri, driven mainly by Groceries & Markets.

Both Keflavik and Akureyri sit above the global median – Keflavik by 124%, Akureyri by 122%.

Meal at Budget Restaurant

$24.41 ISK 2,974

$24.77 ISK 3,017

-1.45%

Three-Course Dinner for Two, Mid-Range

$137 ISK 16.7K

$130 ISK 15.8K

5.38%

Fast Food Meal (McDonalds, etc)

$20.50 ISK 2,497

$22.81 ISK 2,779

-10.13%

Cappuccino

$4.01 ISK 489

$4.92 ISK 599

-18.50%

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

$3.22 ISK 392

$3.41 ISK 416

-5.57%

Water (0.33 liter bottle)

$3.35 ISK 408

$3.02 ISK 368

10.93%

Local Beer (0.5 liter draught)

$8.49 ISK 1,035

$11.32 ISK 1,379

-25.00%

Imported Beer (0.33 liter bottle)

$8.34 ISK 1,016

$9.57 ISK 1,165

-12.85%

Milk (1 liter)

$2.02 ISK 246

$2.87 ISK 350

-29.62%

White Bread (500g)

$4.32 ISK 526

$2.41 ISK 293

79.25%

Rice (white) (1kg)

$2.40 ISK 292

$3.20 ISK 389

-25.00%

Eggs

$6.45 ISK 785

$7.80 ISK 950

-17.31%

Local Cheese (1kg)

$19.18 ISK 2,336

$15.74 ISK 1,917

21.86%

Chicken Fillets (1kg)

$23.88 ISK 2,909

$24.51 ISK 2,985

-2.57%

Beef Round Steak (1kg)

$42.74 ISK 5,206

Apples (1kg)

$2.44 ISK 297

Banana (1kg)

$2.41 ISK 293

$2.93 ISK 357

-17.75%

Oranges (1kg)

$2.44 ISK 297

$3.49 ISK 425

-30.09%

Tomato (1kg)

$4.23 ISK 515

$6.26 ISK 763

-32.43%

Potato (1kg)

$3.18 ISK 387

Onion (1kg)

$1.67 ISK 203

Lettuce (1 head)

$3.84 ISK 468

Water (1.5 liter bottle)

$1.84 ISK 224

Cigarettes 20 Pack (Marlboro, Camel)

$14.27 ISK 1,738

$13.53 ISK 1,648

5.47%

Wine (Bottle)

$16.28 ISK 1,983

Local Beer (0.5 liter bottle)

$3.83 ISK 467

Imported Beer (0.33 liter bottle)

$2.83 ISK 345

One-way Ticket (Public Transport)

$3.60 ISK 439

Public Transport Monthly Pass (Regular Price)

$77.8 ISK 9,470

Taxi Start (Normal Tariff)

$6.53 ISK 796

Taxi (Normal Tariff) (1km)

$2.71 ISK 330

Taxi 1hour Waiting (Normal Tariff)

$75.5 ISK 9,196

Gasoline (1 liter)

$1.92 ISK 234

$2.64 ISK 322

-27.27%

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

$51.7K ISK 6.3M

$41.4K ISK 5.0M

24.79%

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

$54.7K ISK 6.7M

$65.2K ISK 7.9M

-16.15%

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

$87.5 ISK 10.7K

$125 ISK 15.2K

-29.75%

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

$33.19 ISK 4,043

$25.76 ISK 3,137

28.84%

Internet (50+ Mbps, Unlimited Data)

$84.8 ISK 10.3K

$166 ISK 20.2K

-48.85%

Gym Membership (Monthly)

$79.0 ISK 9,620

$86.9 ISK 10.6K

-9.15%

Cinema Ticket

$19.65 ISK 2,393

$15.40 ISK 1,876

27.60%

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

$415 ISK 50.5K

$367 ISK 44.7K

12.96%

International Primary School, 1 Child (Yearly)

$30.8K ISK 3.8M

Jeans (Levis 501 Or Similar)

$158 ISK 19.3K

$82.7 ISK 10.1K

91.60%

Summer Dress (H&M, Zara, etc)

$66.0 ISK 8,042

Sport Shoes (Adidas, Nike)

$177 ISK 21.5K

$125 ISK 15.2K

41.45%

Men's Leather Business Shoes

$191 ISK 23.2K

1-bedroom Apartment, City Center (Monthly)

$1,875 ISK 228.3K

$1,786 ISK 217.5K

4.99%

1-bedroom Apartment, Outside City Center (Monthly)

$1,340 ISK 163.2K

$1,846 ISK 224.8K

-27.42%

3-bedroom Apartment, City Center (Monthly)

$2,501 ISK 304.7K

3-bedroom Apartment, Outside City Center (Monthly)

$2,096 ISK 255.3K

$2,182 ISK 265.7K

-3.94%

Buy Apartment in City Center (m2)

$6,717 ISK 818.1K

Buy Apartment Outside City Center (m2)

$6,544 ISK 797.0K

Average Monthly Net Salary (After Tax)

$3,786 ISK 461.1K

20-Year Fixed Mortgage Interest Rate (Annual %)

8.88

9.4

-5.53%

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

Last update for Keflavik: September 14, 2026

Last update for Akureyri: September 15, 2026

Cost Breakdown

A central one-bedroom costs $1,875 in Keflavik versus $1,786 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 $137 in Keflavik versus $130 in Akureyri. Monthly groceries follow the same trend: $569 vs $329 – making Akureyri the more affordable choice for daily food spending.

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 – Keflavik is pricier by about 1%, and the gap shows up most in Groceries & Markets. It's not just housing either; the difference applies across most spending categories.

For a comfortable life, plan on about $4,603 per month in Keflavik and $4,560 in Akureyri. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Rent is clearly cheaper in Akureyri, especially for central apartments. Housing is actually the single biggest factor behind the overall cost gap between these two cities.

A mid-range dinner for two costs $137 in Keflavik and $130 in Akureyri. That's a good indicator of the overall restaurant and café pricing gap between the two cities.

Groceries cost about 73% more in Keflavik, though it depends on what you buy. Local produce may be comparable; imported and premium items show the biggest price gap.

$2,500 is a stretch for both – monthly costs hit $3,069 in Keflavik and $3,040 in Akureyri. You'll need shared housing and careful budgeting no matter which city you pick.

Families tend to lean toward Akureyri – 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 Akureyri. 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.