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

Monthly Cost of Living

A single person spends $2,853 per month in Keflavik vs $2,916 in Akureyri, rent included.

A couple spends around $4,401 per month in Keflavik vs $3,931 in Akureyri, rent included.

A family of three spends $5,949 per month in Keflavik vs $4,946 in Akureyri, rent included.

Keflavik is about 2% cheaper than Akureyri, driven mainly by Groceries & Markets.

Both Keflavik and Akureyri sit above the global median – Keflavik by 114%, Akureyri by 119%.

Meal at Budget Restaurant

$23.97 ISK 2,962

$23.95 ISK 2,961

0.08%

Three-Course Dinner for Two, Mid-Range

$143 ISK 17.7K

$130 ISK 16.0K

10.27%

Fast Food Meal (McDonalds, etc)

$20.29 ISK 2,508

$21.94 ISK 2,711

-7.52%

Cappuccino

$3.95 ISK 488

$4.86 ISK 601

-18.72%

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

$3.18 ISK 393

$3.30 ISK 408

-3.64%

Water (0.33 liter bottle)

$2.52 ISK 312

$2.94 ISK 363

-14.29%

Local Beer (0.5 liter draught)

$7.95 ISK 983

$10.68 ISK 1,320

-25.56%

Imported Beer (0.33 liter bottle)

$8.18 ISK 1,011

$9.31 ISK 1,150

-12.14%

Milk (1 liter)

$1.87 ISK 231

$2.76 ISK 341

-32.25%

White Bread (500g)

$4.18 ISK 517

$2.37 ISK 293

76.37%

Rice (white) (1kg)

$2.37 ISK 293

$3.13 ISK 387

-24.28%

Eggs

$6.43 ISK 795

$7.80 ISK 964

-17.56%

Local Cheese (1kg)

$18.22 ISK 2,252

Chicken Fillets (1kg)

$24.11 ISK 2,980

$23.90 ISK 2,954

0.88%

Beef Round Steak (1kg)

$42.82 ISK 5,292

Apples (1kg)

$2.35 ISK 291

Banana (1kg)

$2.44 ISK 302

Oranges (1kg)

$2.36 ISK 291

Tomato (1kg)

$4.00 ISK 494

Potato (1kg)

$3.06 ISK 378

Onion (1kg)

$2.01 ISK 249

Lettuce (1 head)

$3.17 ISK 392

Water (1.5 liter bottle)

$1.93 ISK 239

Cigarettes 20 Pack (Marlboro, Camel)

$13.80 ISK 1,706

$13.24 ISK 1,637

4.23%

Wine (Bottle)

$15.90 ISK 1,965

Local Beer (0.5 liter bottle)

$3.74 ISK 462

Imported Beer (0.33 liter bottle)

$2.82 ISK 349

One-way Ticket (Public Transport)

$3.67 ISK 454

Public Transport Monthly Pass (Regular Price)

$74.3 ISK 9,183

Taxi Start (Normal Tariff)

$6.37 ISK 787

Taxi (Normal Tariff) (1km)

$2.26 ISK 279

Taxi 1hour Waiting (Normal Tariff)

$86.4 ISK 10.7K

Gasoline (1 liter)

$2.43 ISK 300

$2.54 ISK 314

-4.33%

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

$47.5K ISK 5.9M

$40.7K ISK 5.0M

16.83%

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

$52.0K ISK 6.4M

$64.5K ISK 8.0M

-19.40%

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

$86.6 ISK 10.7K

$121 ISK 15.0K

-28.48%

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

$27.84 ISK 3,441

$25.49 ISK 3,151

9.22%

Internet (50+ Mbps, Unlimited Data)

$86.2 ISK 10.7K

$159 ISK 19.7K

-45.95%

Gym Membership (Monthly)

$82.4 ISK 10.2K

Cinema Ticket

$17.61 ISK 2,177

$14.79 ISK 1,828

19.07%

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

$318 ISK 39.3K

$361 ISK 44.7K

-11.98%

International Primary School, 1 Child (Yearly)

$29.7K ISK 3.7M

Jeans (Levis 501 Or Similar)

$141 ISK 17.4K

$79.9 ISK 9,872

76.69%

Summer Dress (H&M, Zara, etc)

$62.8 ISK 7,766

Sport Shoes (Adidas, Nike)

$180 ISK 22.3K

$119 ISK 14.7K

51.02%

Men's Leather Business Shoes

$188 ISK 23.2K

1-bedroom Apartment, City Center (Monthly)

$1,829 ISK 226.0K

$1,762 ISK 217.8K

3.77%

1-bedroom Apartment, Outside City Center (Monthly)

$1,350 ISK 166.8K

$1,790 ISK 221.2K

-24.59%

3-bedroom Apartment, City Center (Monthly)

$2,442 ISK 301.8K

3-bedroom Apartment, Outside City Center (Monthly)

$2,007 ISK 248.1K

$2,143 ISK 264.8K

-6.33%

Buy Apartment in City Center (m2)

$6,491 ISK 802.3K

Buy Apartment Outside City Center (m2)

$6,302 ISK 778.9K

Average Monthly Net Salary (After Tax)

$3,712 ISK 458.9K

20-Year Fixed Mortgage Interest Rate (Annual %)

9.63

9.4

2.45%

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

Last update for Keflavik: July 26, 2026

Last update for Akureyri: July 27, 2026

Cost Breakdown

A central one-bedroom costs $1,829 in Keflavik versus $1,762 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 $143 in Keflavik versus $130 in Akureyri. Monthly groceries follow the same trend: $560 vs $214 – 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 – Akureyri is pricier by about 2%, 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 $4,279 per month in Keflavik and $4,375 in Akureyri. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Rent is clearly cheaper in Keflavik, 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 $143 in Keflavik and $130 in Akureyri. That's a good indicator of the overall restaurant and café pricing gap between the two cities.

Interestingly, groceries are about 161% cheaper in Akureyri – one category where the pricier city actually offers better value, probably thanks to stronger retail competition or local farming.

$2,000 is a stretch for both – monthly costs hit $2,853 in Keflavik and $2,916 in Akureyri. You'll need shared housing and careful budgeting no matter which city you pick.

Families tend to lean toward Keflavik – 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 Keflavik. If higher salaries, better infrastructure, or specific career opportunities are the priority, Akureyri makes more sense. Both are solid long-term options with distinct trade-offs.