Cost of Living Comparison Between Keflavik and Chiang Mai Cost of Living Comparison Between Keflavik and Chiang Mai

Monthly Cost of Living

A single person spends $2,853 per month in Keflavik vs $852 in Chiang Mai, rent included.

A couple spends around $4,401 per month in Keflavik vs $1,360 in Chiang Mai, rent included.

A family of three spends $5,949 per month in Keflavik vs $1,867 in Chiang Mai, rent included.

Keflavik costs about 235% more than Chiang Mai, driven mainly by Groceries & Markets.

Keflavik sits 114% above the global median, while Chiang Mai is 36% below – they fall on opposite sides of the world average.

Meal at Budget Restaurant

$23.97 ISK 2,962

$2.04 ฿68.2

1075.00%

Three-Course Dinner for Two, Mid-Range

$143 ISK 17.7K

$18.71 ฿624

664.30%

Fast Food Meal (McDonalds, etc)

$20.29 ISK 2,508

$7.86 ฿262

158.14%

Cappuccino

$3.95 ISK 488

$2.03 ฿67.7

94.58%

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

$3.18 ISK 393

$0.80 ฿26.64

297.50%

Water (0.33 liter bottle)

$2.52 ISK 312

$0.35 ฿11.68

620.00%

Local Beer (0.5 liter draught)

$7.95 ISK 983

$2.14 ฿71.5

271.50%

Imported Beer (0.33 liter bottle)

$8.18 ISK 1,011

$3.67 ฿122

122.89%

Milk (1 liter)

$1.87 ISK 231

$1.73 ฿57.6

8.09%

White Bread (500g)

$4.18 ISK 517

$1.57 ฿52.4

166.24%

Rice (white) (1kg)

$2.37 ISK 293

$1.20 ฿39.99

97.50%

Eggs

$6.43 ISK 795

$1.97 ฿65.8

226.40%

Local Cheese (1kg)

$18.22 ISK 2,252

$16.23 ฿541

12.26%

Chicken Fillets (1kg)

$24.11 ISK 2,980

$3.06 ฿102

687.91%

Beef Round Steak (1kg)

$42.82 ISK 5,292

$10.80 ฿360

296.48%

Apples (1kg)

$2.35 ISK 291

$2.77 ฿92.3

-15.16%

Banana (1kg)

$2.44 ISK 302

$1.17 ฿38.94

108.55%

Oranges (1kg)

$2.36 ISK 291

$1.71 ฿57.0

38.01%

Tomato (1kg)

$4.00 ISK 494

$1.59 ฿53.2

151.57%

Potato (1kg)

$3.06 ISK 378

$1.39 ฿46.51

120.14%

Onion (1kg)

$2.01 ISK 249

$1.16 ฿38.56

73.28%

Lettuce (1 head)

$3.17 ISK 392

$0.66 ฿22.05

380.30%

Water (1.5 liter bottle)

$1.93 ISK 239

$0.52 ฿17.31

271.15%

Cigarettes 20 Pack (Marlboro, Camel)

$13.80 ISK 1,706

$4.65 ฿155

196.77%

Wine (Bottle)

$15.90 ISK 1,965

$17.78 ฿593

-10.57%

Local Beer (0.5 liter bottle)

$3.74 ISK 462

$1.79 ฿59.6

108.94%

Imported Beer (0.33 liter bottle)

$2.82 ISK 349

$3.34 ฿111

-15.57%

One-way Ticket (Public Transport)

$3.67 ISK 454

$0.91 ฿30.27

303.30%

Public Transport Monthly Pass (Regular Price)

$74.3 ISK 9,183

$18.64 ฿622

298.61%

Taxi Start (Normal Tariff)

$6.37 ISK 787

$1.41 ฿47.04

351.77%

Taxi (Normal Tariff) (1km)

$2.26 ISK 279

$1.34 ฿44.70

68.66%

Taxi 1hour Waiting (Normal Tariff)

$86.4 ISK 10.7K

$8.11 ฿270

964.98%

Gasoline (1 liter)

$2.43 ISK 300

$1.23 ฿41.16

97.56%

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

$47.5K ISK 5.9M

$21.4K ฿715.1K

121.66%

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

$52.0K ISK 6.4M

$21.8K ฿728.0K

138.27%

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

$86.6 ISK 10.7K

$71.3 ฿2,379

21.34%

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

$27.84 ISK 3,441

$14.01 ฿467

98.72%

Internet (50+ Mbps, Unlimited Data)

$86.2 ISK 10.7K

$17.93 ฿598

380.81%

Gym Membership (Monthly)

$40.82 ฿1,362

Tennis Court (1 Hour on Weekend)

$6.88 ฿230

Cinema Ticket

$17.61 ISK 2,177

$5.72 ฿191

207.87%

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

$318 ISK 39.3K

$308 ฿10.3K

3.15%

International Primary School, 1 Child (Yearly)

$29.7K ISK 3.7M

$14.7K ฿489.7K

102.50%

Jeans (Levis 501 Or Similar)

$141 ISK 17.4K

$55.8 ฿1,860

153.04%

Summer Dress (H&M, Zara, etc)

$62.8 ISK 7,766

$26.04 ฿869

141.28%

Sport Shoes (Adidas, Nike)

$180 ISK 22.3K

$84.8 ฿2,829

112.35%

Men's Leather Business Shoes

$188 ISK 23.2K

$71.0 ฿2,368

164.46%

1-bedroom Apartment, City Center (Monthly)

$1,829 ISK 226.0K

$423 ฿14.1K

332.11%

1-bedroom Apartment, Outside City Center (Monthly)

$1,350 ISK 166.8K

$242 ฿8,088

456.62%

3-bedroom Apartment, City Center (Monthly)

$2,442 ISK 301.8K

$797 ฿26.6K

206.27%

3-bedroom Apartment, Outside City Center (Monthly)

$2,007 ISK 248.1K

$507 ฿16.9K

296.03%

Buy Apartment in City Center (m2)

$1,918 ฿64.0K

Buy Apartment Outside City Center (m2)

$1,464 ฿48.8K

Average Monthly Net Salary (After Tax)

$3,712 ISK 458.9K

$595 ฿19.9K

523.89%

20-Year Fixed Mortgage Interest Rate (Annual %)

9.63

92.60%

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

Last update for Keflavik: July 26, 2026

Last update for Chiang Mai: July 27, 2026

Cost Breakdown

A central one-bedroom costs $1,829 in Keflavik versus $423 in Chiang Mai. 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 524% 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 $143 in Keflavik versus $19.00 in Chiang Mai. Monthly groceries follow the same trend: $560 vs $244 – making Chiang Mai 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 Chiang Mai: Cost of Living - Frequently Asked Questions

Keflavik costs about 235% more than Chiang Mai, with the gap driven mainly by Groceries & Markets. That's enough to noticeably affect everyday spending and lifestyle for anyone choosing between the two.

For a comfortable life, plan on about $4,279 per month in Keflavik and $1,279 in Chiang Mai. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

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

Kindergarten costs $318 per month in Keflavik and $308 in Chiang Mai. For families with young kids, this one expense can tip the scales when choosing between the two cities.

Groceries cost about 129% more in Keflavik, though it depends on what you buy. Local produce may be comparable; imported and premium items show the biggest price gap.

A $1,000 monthly budget goes further in Chiang Mai, where all-in costs run around $852, than in Keflavik at $2,853. In Chiang Mai it covers expenses comfortably, while in Keflavik it requires careful planning or may not stretch far enough.

For digital nomads, it depends on budget. Chiang Mai costs $852 versus $2,853 in Keflavik. Both have workable remote work infrastructure, but the cost gap matters when income varies month to month.

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 Chiang Mai. 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.