Last update: Oct 2026

Cost of Living Comparison Between Keflavik and Budapest

For one person, living is cheaper in Budapest: $1,619 a month against $2,992 in Keflavik, rent and utilities included – about $16,500 less a year. Rent and utilities account for about half of the difference.

147

Cost of Living Index in Keflavik
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Keflavik Living Index
79

Cost of Living Index in Budapest
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Budapest Living Index

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Keflavik

🇮🇸 Iceland

$2,992

/mo nomad

Budapest

🇭🇺 Hungary

$1,619

/mo nomad

Monthly Cost of Living

How much you'll spend in Keflavik and in Budapest

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

A single person spends $2,992 per month in Keflavik vs $1,619 in Budapest, rent included.

Keflavik $2,992
Budapest $1,619

A couple spends around $4,538 per month in Keflavik vs $2,524 in Budapest, rent included.

Keflavik $4,538
Budapest $2,524

A family of three spends $6,084 per month in Keflavik vs $3,429 in Budapest, rent included.

Keflavik $6,084
Budapest $3,429

Keflavik costs about 85% more than Budapest, and outside of rent the biggest gap is in groceries.

Both Keflavik and Budapest sit above the global median – Keflavik by 122%, Budapest by 20%.

Meal at Budget Restaurant

$24.71 ISK 2,997

$13.94 Ft 4,503

77.26%

Three-Course Dinner for Two, Mid-Range

$124 ISK 15.0K

$61.2 Ft 19.8K

101.88%

Fast Food Meal (McDonalds, etc)

$20.40 ISK 2,475

$10.19 Ft 3,291

100.20%

Cappuccino

$4.06 ISK 493

$3.26 Ft 1,055

24.54%

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

$3.18 ISK 386

$2.14 Ft 690

48.60%

Water (0.33 liter bottle)

$3.19 ISK 387

$1.78 Ft 577

79.21%

Local Beer (0.5 liter draught)

$8.00 ISK 970

$3.71 Ft 1,198

115.63%

Imported Beer (0.33 liter bottle)

$8.34 ISK 1,012

$3.77 Ft 1,217

121.22%

Milk (1 liter)

$2.10 ISK 255

$1.15 Ft 371

82.61%

White Bread (500g)

$4.23 ISK 513

$1.79 Ft 578

136.31%

Rice (white) (1kg)

$2.53 ISK 307

$2.49 Ft 804

1.61%

Eggs

$6.32 ISK 767

$3.90 Ft 1,261

62.05%

Local Cheese (1kg)

$19.06 ISK 2,311

$11.10 Ft 3,587

71.71%

Chicken Fillets (1kg)

$24.38 ISK 2,958

$6.62 Ft 2,139

268.28%

Beef Round Steak (1kg)

$41.25 ISK 5,003

$14.69 Ft 4,745

180.80%

Apples (1kg)

$2.48 ISK 301

$1.83 Ft 591

35.52%

Banana (1kg)

$2.51 ISK 304

$2.05 Ft 661

22.44%

Oranges (1kg)

$2.44 ISK 296

$2.37 Ft 765

2.95%

Tomato (1kg)

$4.01 ISK 486

$3.90 Ft 1,260

2.82%

Potato (1kg)

$3.20 ISK 388

$0.99 Ft 320

223.23%

Onion (1kg)

$1.70 ISK 206

$1.00 Ft 322

70.00%

Lettuce (1 head)

$3.84 ISK 465

$1.58 Ft 511

143.04%

Water (1.5 liter bottle)

$1.78 ISK 215

$0.67 Ft 216

165.67%

Cigarettes 20 Pack (Marlboro, Camel)

$13.97 ISK 1,695

$7.96 Ft 2,572

75.50%

Wine (Bottle)

$16.58 ISK 2,012

$6.22 Ft 2,009

166.56%

Local Beer (0.5 liter bottle)

$3.61 ISK 438

$1.27 Ft 411

184.25%

Imported Beer (0.33 liter bottle)

$2.94 ISK 356

$2.03 Ft 654

44.83%

One-way Ticket (Public Transport)

$3.68 ISK 446

$1.52 Ft 490

142.11%

Public Transport Monthly Pass (Regular Price)

$77.6 ISK 9,407

$28.02 Ft 9,053

176.77%

Taxi Start (Normal Tariff)

$6.63 ISK 804

$3.31 Ft 1,070

100.30%

Taxi (Normal Tariff) (1km)

$2.58 ISK 312

$1.37 Ft 442

88.32%

Taxi 1hour Waiting (Normal Tariff)

$80.2 ISK 9,727

$19.83 Ft 6,406

304.39%

Gasoline (1 liter)

$2.10 ISK 255

$1.82 Ft 589

15.38%

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

$50.1K ISK 6.1M

$29.8K Ft 9.6M

68.28%

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

$54.7K ISK 6.6M

$33.8K Ft 10.9M

61.72%

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

$94.8 ISK 11.5K

$171 Ft 55.3K

-44.60%

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

$33.29 ISK 4,038

$23.51 Ft 7,596

41.60%

Internet (50+ Mbps, Unlimited Data)

$85.0 ISK 10.3K

$23.29 Ft 7,526

265.01%

Gym Membership (Monthly)

$78.5 ISK 9,526

$67.5 Ft 21.8K

16.30%

Tennis Court (1 Hour on Weekend)

$18.89 Ft 6,104

Cinema Ticket

$19.48 ISK 2,363

$9.30 Ft 3,004

109.46%

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

$407 ISK 49.3K

$533 Ft 172.3K

-23.75%

International Primary School, 1 Child (Yearly)

$25.7K ISK 3.1M

$16.8K Ft 5.4M

53.44%

Jeans (Levis 501 Or Similar)

$152 ISK 18.4K

$99.6 Ft 32.2K

52.50%

Summer Dress (H&M, Zara, etc)

$65.4 ISK 7,934

$43.49 Ft 14.0K

50.40%

Sport Shoes (Adidas, Nike)

$182 ISK 22.0K

$110 Ft 35.7K

64.62%

Men's Leather Business Shoes

$191 ISK 23.1K

$119 Ft 38.4K

60.26%

1-bedroom Apartment, City Center (Monthly)

$1,896 ISK 230.0K

$830 Ft 268.3K

128.34%

1-bedroom Apartment, Outside City Center (Monthly)

$1,329 ISK 161.2K

$622 Ft 200.9K

113.68%

3-bedroom Apartment, City Center (Monthly)

$2,516 ISK 305.1K

$1,594 Ft 514.9K

57.87%

3-bedroom Apartment, Outside City Center (Monthly)

$2,061 ISK 250.0K

$1,170 Ft 378.1K

76.09%

Buy Apartment in City Center (m2)

$5,832 Ft 1.9M

Buy Apartment Outside City Center (m2)

$3,889 Ft 1.3M

Average Monthly Net Salary (After Tax)

$3,752 ISK 455.0K

$1,651 Ft 533.4K

127.21%

20-Year Fixed Mortgage Interest Rate (Annual %)

8.81

6.45

36.59%

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

Last update for Keflavik: October 12, 2026

Last update for Budapest: October 13, 2026

Monthly budget structure

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

Accommodation & Living

Keflavik

$1.3K 44.4%

Budapest

$622 38.4% 53.2% $707

Groceries & Markets

Keflavik

$566 18.9%

Budapest

$258 15.9% 54.4% $308

Eating Out

Keflavik

$390 13%

Budapest

$223 13.8% 42.8% $167

Clothing & Footwear

Keflavik

$265 8.9%

Budapest

$168 10.4% 36.8% $98

Monthly Utilities & Internet

Keflavik

$213 7.1%

Budapest

$218 13.5% 2.3% $4.8

Sport & Entertainment

Keflavik

$118 3.9%

Budapest

$86 5.3% 26.7% $31

Getting Around

Keflavik

$112 3.7%

Budapest

$44 2.7% 60.4% $68

Cost Breakdown

A central one-bedroom costs $1,896 in Keflavik versus $830 in Budapest. Rent is usually the largest line item in a monthly budget, so the gap here sets the tone for the overall comparison.

Salaries run about 127% higher in Keflavik, which partly offsets the higher cost of living there. Purchasing power depends on which expenses matter most to you.

A mid-range dinner for two costs $124 in Keflavik versus $61.0 in Budapest. Monthly groceries follow the same trend: $566 vs $258 – making Budapest the more affordable choice for daily food spending.

Good to know

🇮🇸 Keflavik

🇭🇺 Budapest

🕒 Local time

00:16 12:16 AM

02:16 2:16 AM

2 h ahead of Keflavik

🌤 Weather

👥 Population

15,000

1,686,222 Capital

💱 Currency

Icelandic Króna ISK kr

Hungarian Forint HUF Ft

📈 Exchange rate

1,000 ISK = 8.24 USD

1,000 ISK = 7.33 EUR

1,000 HUF = 3.1 USD

1,000 HUF = 2.75 EUR

Exchange rates and currency converter

HUF, USD, EUR to ISK – Icelandic Króna Converter

🇺🇸 United States Dollar ($)

🇮🇸 Icelandic Króna (kr)

Icelandic Króna exchange rates as of October 19, 2026: 1 USD = 121 ISK (1,000 ISK = 8.24 USD). 1 EUR = 136 ISK (1,000 ISK = 7.33 EUR).

Hungarian Forint exchange rates as of October 19, 2026: 1 USD = 323 HUF (1,000 HUF = 3.1 USD). 1 EUR = 363 HUF (1,000 HUF = 2.75 EUR).

USD to ISK in detail →

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Between locations

Keflavik Budapest 3,100 km ≈ 4 h 15 min nonstop flight

From you

Keflavik
Budapest

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 Budapest: Cost of Living - Frequently Asked Questions

Yes – Keflavik is pricier by about 85%, and outside of rent the gap shows up most in groceries.

For a comfortable life, plan on about $4,488 per month in Keflavik and $2,428 in Budapest. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

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

Public transport costs about 177% less in Budapest. For daily commuters, that gap adds up to noticeable savings over a year.

Kindergarten costs $407 per month in Keflavik and $533 in Budapest. For families with young kids, this one expense can tip the scales when choosing between the two cities.

A $2,500 monthly budget goes further in Budapest, where all-in costs run around $1,619, than in Keflavik at $2,992. In Budapest it covers expenses comfortably, while in Keflavik it requires careful planning or may not stretch far enough.

Families tend to lean toward Budapest – 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 Budapest. 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.