Last update: Oct 2026

Cost of Living Comparison Between Keflavik and Cebu

For one person, living is cheaper in Cebu: $918 a month against $2,992 in Keflavik, rent and utilities included – about $24,900 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
45

Cost of Living Index in Cebu
Learn more

Cebu Living Index

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Keflavik

🇮🇸 Iceland

$2,992

/mo nomad

Cebu

🇵🇭 Philippines

$918

/mo nomad

Monthly Cost of Living

How much you'll spend in Keflavik and in Cebu

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

Monthly costs for one person with rent: $2,992 in Keflavik versus $918 in Cebu.

Keflavik $2,992
Cebu $918

Estimated couple costs with rent: $4,538 in Keflavik versus $1,409 in Cebu.

Keflavik $4,538
Cebu $1,409

Monthly costs for a family of three with rent: $6,084 in Keflavik versus $1,900 in Cebu.

Keflavik $6,084
Cebu $1,900

Living in Keflavik is roughly 226% more expensive than in Cebu, and outside of rent the biggest gap is in groceries.

The two cities straddle the global median: Keflavik is 122% above, Cebu is 32% below.

Meal at Budget Restaurant

$24.71 ISK 2,997

$3.09 ₱194

699.68%

Three-Course Dinner for Two, Mid-Range

$124 ISK 15.0K

$24.22 ₱1,525

410.28%

Fast Food Meal (McDonalds, etc)

$20.40 ISK 2,475

$3.92 ₱247

420.41%

Cappuccino

$4.06 ISK 493

$2.51 ₱158

61.75%

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

$3.18 ISK 386

$1.59 ₱100

100.00%

Water (0.33 liter bottle)

$3.19 ISK 387

$0.53 ₱33.43

501.89%

Local Beer (0.5 liter draught)

$8.00 ISK 970

$1.78 ₱112

349.44%

Imported Beer (0.33 liter bottle)

$8.34 ISK 1,012

$2.17 ₱137

284.33%

Milk (1 liter)

$2.10 ISK 255

$1.92 ₱121

9.38%

White Bread (500g)

$4.23 ISK 513

$1.36 ₱85.4

211.03%

Rice (white) (1kg)

$2.53 ISK 307

$1.01 ₱63.5

150.50%

Eggs

$6.32 ISK 767

$2.03 ₱128

211.33%

Local Cheese (1kg)

$19.06 ISK 2,311

$9.86 ₱621

93.31%

Chicken Fillets (1kg)

$24.38 ISK 2,958

$4.39 ₱277

455.35%

Beef Round Steak (1kg)

$41.25 ISK 5,003

$7.60 ₱479

442.76%

Apples (1kg)

$2.48 ISK 301

$3.30 ₱208

-24.85%

Banana (1kg)

$2.51 ISK 304

$1.39 ₱87.8

80.58%

Oranges (1kg)

$2.44 ISK 296

$2.33 ₱147

4.72%

Tomato (1kg)

$4.01 ISK 486

$1.50 ₱94.3

167.33%

Potato (1kg)

$3.20 ISK 388

$2.36 ₱149

35.59%

Onion (1kg)

$1.70 ISK 206

$1.90 ₱119

-10.53%

Lettuce (1 head)

$3.84 ISK 465

$1.19 ₱74.9

222.69%

Water (1.5 liter bottle)

$1.78 ISK 215

$0.63 ₱39.71

182.54%

Cigarettes 20 Pack (Marlboro, Camel)

$13.97 ISK 1,695

$3.00 ₱189

365.67%

Wine (Bottle)

$16.58 ISK 2,012

$6.03 ₱379

174.96%

Local Beer (0.5 liter bottle)

$3.61 ISK 438

$1.23 ₱77.7

193.50%

Imported Beer (0.33 liter bottle)

$2.94 ISK 356

$1.75 ₱110

68.00%

One-way Ticket (Public Transport)

$3.68 ISK 446

$0.25 ₱15.86

1372.00%

Public Transport Monthly Pass (Regular Price)

$77.6 ISK 9,407

$12.64 ₱796

513.53%

Taxi Start (Normal Tariff)

$6.63 ISK 804

$0.77 ₱48.62

761.04%

Taxi (Normal Tariff) (1km)

$2.58 ISK 312

$0.23 ₱14.53

1021.74%

Taxi 1hour Waiting (Normal Tariff)

$80.2 ISK 9,727

$4.46 ₱281

1697.98%

Gasoline (1 liter)

$2.10 ISK 255

$1.31 ₱82.8

60.31%

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

$50.1K ISK 6.1M

$21.2K ₱1.3M

136.05%

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

$54.7K ISK 6.6M

$19.1K ₱1.2M

185.60%

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

$94.8 ISK 11.5K

$120 ₱7,569

-21.15%

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

$33.29 ISK 4,038

$14.00 ₱882

137.79%

Internet (50+ Mbps, Unlimited Data)

$85.0 ISK 10.3K

$27.54 ₱1,734

208.68%

Gym Membership (Monthly)

$78.5 ISK 9,526

$32.33 ₱2,035

142.93%

Tennis Court (1 Hour on Weekend)

$6.65 ₱419

Cinema Ticket

$19.48 ISK 2,363

$5.65 ₱356

244.78%

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

$407 ISK 49.3K

$275 ₱17.3K

47.71%

International Primary School, 1 Child (Yearly)

$25.7K ISK 3.1M

$7,918 ₱498.5K

224.71%

Jeans (Levis 501 Or Similar)

$152 ISK 18.4K

$49.33 ₱3,106

207.95%

Summer Dress (H&M, Zara, etc)

$65.4 ISK 7,934

$25.24 ₱1,589

159.15%

Sport Shoes (Adidas, Nike)

$182 ISK 22.0K

$77.0 ₱4,846

136.07%

Men's Leather Business Shoes

$191 ISK 23.1K

$57.2 ₱3,601

233.32%

1-bedroom Apartment, City Center (Monthly)

$1,896 ISK 230.0K

$500 ₱31.5K

279.62%

1-bedroom Apartment, Outside City Center (Monthly)

$1,329 ISK 161.2K

$309 ₱19.4K

330.33%

3-bedroom Apartment, City Center (Monthly)

$2,516 ISK 305.1K

$1,078 ₱67.9K

133.41%

3-bedroom Apartment, Outside City Center (Monthly)

$2,061 ISK 250.0K

$615 ₱38.7K

234.98%

Buy Apartment in City Center (m2)

$2,886 ₱181.7K

Buy Apartment Outside City Center (m2)

$1,917 ₱120.7K

Average Monthly Net Salary (After Tax)

$3,752 ISK 455.0K

$346 ₱21.8K

984.41%

20-Year Fixed Mortgage Interest Rate (Annual %)

8.81

7.2

22.36%

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

Last update for Keflavik: October 12, 2026

Last update for Cebu: October 12, 2026

Monthly budget structure

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

Accommodation & Living

Keflavik

$1.3K 44.4%

Cebu

$309 33.6% 76.8% $1K

Groceries & Markets

Keflavik

$566 18.9%

Cebu

$206 22.4% 63.6% $360

Eating Out

Keflavik

$390 13%

Cebu

$88 9.6% 77.4% $302

Clothing & Footwear

Keflavik

$265 8.9%

Cebu

$94 10.2% 64.6% $171

Monthly Utilities & Internet

Keflavik

$213 7.1%

Cebu

$162 17.6% 24.1% $51

Sport & Entertainment

Keflavik

$118 3.9%

Cebu

$44 4.8% 62.9% $74

Getting Around

Keflavik

$112 3.7%

Cebu

$16 1.7% 86.1% $96

Cost Breakdown

A one-bedroom apartment in the center runs $1,896 in Keflavik and $500 in Cebu. Housing cost is often the main lever when comparing two cities.

Keflavik pays 984% more on average. The extra income cushions the higher costs, though housing choices and lifestyle decide how much of the gap is truly closed.

Dining out: $124 in Keflavik vs $24.00 in Cebu for a mid-range dinner for two. Groceries echo the gap at $566 vs $206 per month, with Cebu cheaper across the board.

Good to know

🇮🇸 Keflavik

🇵🇭 Cebu

🕒 Local time

01:00 1:00 AM

09:00 9:00 AM

8 h ahead of Keflavik

🌤 Weather

👥 Population

15,000

964,169

💱 Currency

Icelandic Króna ISK kr

Philippine Peso PHP ₱

📈 Exchange rate

1,000 ISK = 8.24 USD

1,000 ISK = 7.33 EUR

100 PHP = 1.59 USD

100 PHP = 1.41 EUR

Exchange rates and currency converter

PHP, 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).

Philippine Peso exchange rates as of October 19, 2026: 1 USD = 62.96 PHP (100 PHP = 1.59 USD). 1 EUR = 70.78 PHP (100 PHP = 1.41 EUR).

USD to ISK in detail →

On the map

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Between locations

Keflavik Cebu 11,280 km ≈ 15 h nonstop flight

From you

Keflavik
Cebu

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 Cebu: Cost of Living - Frequently Asked Questions

Cebu is cheaper overall, especially in groceries, eating out, and clothing. The 226% gap adds up to real monthly savings that compound significantly over time.

Average pay runs 984% higher in Keflavik, which matters when comparing affordability. Whether that higher income actually nets you more depends on your spending habits and housing choices.

Rent for a central apartment: $1,896 in Keflavik versus $500 in Cebu. Housing is usually the single largest factor when comparing overall living costs between the two.

All in, you'll spend $2,992 per month in Keflavik versus $918 in Cebu – a 226% gap that adds up to real savings over time for anyone picking the cheaper option.

A monthly transit pass in Cebu runs roughly 514% less than in Keflavik. Both cities have functional networks, but the price difference matters if you're watching your budget.

At $918 in Cebu versus $2,992 in Keflavik, a $1,500 budget is realistic in Cebu but tight or insufficient in Keflavik. The gap between the two cities makes Cebu the clear choice for anyone on this budget.

For families, Cebu is more practical. Housing and childcare are both notably cheaper than in Keflavik, and the savings on those two alone free up budget for education, activities, and family trips.

Safety-wise, Keflavik and Cebu are on par. Petty crime is typical for cities this size, and most residents feel comfortable going about their daily routines in either place.

Expats usually find Cebu gentler on the wallet – expenses run 226% less than in Keflavik. Beyond cost, consider language, visa policies, and how big the international community is in each city.