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

Monthly Cost of Living

A single person spends $2,873 per month in Keflavik vs $2,862 in Akureyri, rent included.

A couple spends around $4,433 per month in Keflavik vs $3,910 in Akureyri, rent included.

A family of three spends $5,992 per month in Keflavik vs $4,958 in Akureyri, rent included.

Keflavik and Akureyri have comparable living costs – the differences are in the details.

Both Keflavik and Akureyri sit above the global median – Keflavik by 115%, Akureyri by 114%.

Meal at Budget Restaurant

$23.97 ISK 2,936

$23.68 ISK 2,900

1.22%

Three-Course Dinner for Two, Mid-Range

$147 ISK 18.0K

$127 ISK 15.6K

15.81%

Fast Food Meal (McDonalds, etc)

$19.75 ISK 2,419

$22.00 ISK 2,695

-10.23%

Cappuccino

$4.11 ISK 504

$4.83 ISK 591

-14.91%

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

$3.12 ISK 382

$3.43 ISK 420

-9.04%

Water (0.33 liter bottle)

$2.50 ISK 307

$3.09 ISK 379

-19.09%

Local Beer (0.5 liter draught)

$8.16 ISK 999

$10.76 ISK 1,318

-24.16%

Imported Beer (0.33 liter bottle)

$8.16 ISK 999

$9.30 ISK 1,138

-12.26%

Milk (1 liter)

$1.96 ISK 240

$2.79 ISK 341

-29.75%

White Bread (500g)

$4.14 ISK 508

$2.25 ISK 276

84.00%

Rice (white) (1kg)

$2.48 ISK 303

$3.07 ISK 375

-19.22%

Eggs

$6.35 ISK 778

$8.25 ISK 1,011

-23.03%

Local Cheese (1kg)

$18.44 ISK 2,259

Chicken Fillets (1kg)

$23.91 ISK 2,929

$24.53 ISK 3,004

-2.53%

Beef Round Steak (1kg)

$42.20 ISK 5,168

Apples (1kg)

$2.35 ISK 287

Banana (1kg)

$2.48 ISK 304

Oranges (1kg)

$2.43 ISK 298

Tomato (1kg)

$3.95 ISK 483

Potato (1kg)

$3.21 ISK 393

Onion (1kg)

$2.03 ISK 248

Lettuce (1 head)

$3.08 ISK 377

Water (1.5 liter bottle)

$1.94 ISK 238

Cigarettes 20 Pack (Marlboro, Camel)

$13.45 ISK 1,647

$13.19 ISK 1,616

1.97%

Wine (Bottle)

$16.12 ISK 1,974

Local Beer (0.5 liter bottle)

$3.71 ISK 454

Imported Beer (0.33 liter bottle)

$2.80 ISK 343

One-way Ticket (Public Transport)

$3.52 ISK 432

Public Transport Monthly Pass (Regular Price)

$74.8 ISK 9,166

Taxi Start (Normal Tariff)

$6.24 ISK 765

Taxi (Normal Tariff) (1km)

$2.30 ISK 281

Taxi 1hour Waiting (Normal Tariff)

$85.2 ISK 10.4K

Gasoline (1 liter)

$2.56 ISK 313

$2.54 ISK 311

0.79%

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

$47.2K ISK 5.8M

$39.8K ISK 4.9M

18.61%

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

$52.6K ISK 6.4M

$63.4K ISK 7.8M

-17.14%

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

$87.5 ISK 10.7K

$121 ISK 14.8K

-27.65%

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

$27.94 ISK 3,422

$25.36 ISK 3,106

10.17%

Internet (50+ Mbps, Unlimited Data)

$86.2 ISK 10.6K

$160 ISK 19.6K

-46.16%

Gym Membership (Monthly)

$84.2 ISK 10.3K

Cinema Ticket

$17.88 ISK 2,190

$14.88 ISK 1,823

20.16%

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

$319 ISK 39.1K

$357 ISK 43.8K

-10.68%

International Primary School, 1 Child (Yearly)

$30.3K ISK 3.7M

Jeans (Levis 501 Or Similar)

$137 ISK 16.7K

$78.9 ISK 9,665

72.96%

Summer Dress (H&M, Zara, etc)

$61.4 ISK 7,515

Sport Shoes (Adidas, Nike)

$179 ISK 21.9K

$122 ISK 15.0K

46.03%

Men's Leather Business Shoes

$187 ISK 22.9K

1-bedroom Apartment, City Center (Monthly)

$1,826 ISK 223.6K

$1,792 ISK 219.5K

1.91%

1-bedroom Apartment, Outside City Center (Monthly)

$1,331 ISK 163.1K

$1,803 ISK 220.8K

-26.17%

3-bedroom Apartment, City Center (Monthly)

$2,481 ISK 303.9K

3-bedroom Apartment, Outside City Center (Monthly)

$2,009 ISK 246.0K

$2,126 ISK 260.4K

-5.50%

Buy Apartment in City Center (m2)

$6,617 ISK 810.4K

Buy Apartment Outside City Center (m2)

$6,409 ISK 784.9K

Average Monthly Net Salary (After Tax)

$3,701 ISK 453.3K

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: April 26, 2026

Last update for Akureyri: April 28, 2026

Cost Breakdown

A central one-bedroom costs $1,826 in Keflavik versus $1,792 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 $147 in Keflavik versus $127 in Akureyri. Monthly groceries follow the same trend: $560 vs $218 – 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

For a comfortable life, plan on about $4,310 per month in Keflavik and $4,293 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 $147 in Keflavik and $127 in Akureyri. That's a good indicator of the overall restaurant and café pricing gap between the two cities.

Kindergarten costs $319 per month in Keflavik and $357 in Akureyri. For families with young kids, this one expense can tip the scales when choosing between the two cities.

$2,500 is a stretch for both – monthly costs hit $2,873 in Keflavik and $2,862 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.