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 $2,873 per month in Keflavik vs $852 in Chiang Mai, rent included.

A couple spends around $4,433 per month in Keflavik vs $1,354 in Chiang Mai, rent included.

A family of three spends $5,992 per month in Keflavik vs $1,857 in Chiang Mai, rent included.

Keflavik costs about 237% more than Chiang Mai, driven mainly by Groceries & Markets.

Keflavik sits 115% 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 2,935

$1.96 ฿64.0

1122.96%

Three-Course Dinner for Two, Mid-Range

$147 ISK 18.0K

$18.81 ฿615

681.92%

Fast Food Meal (McDonalds, etc)

$19.75 ISK 2,418

$7.92 ฿259

149.37%

Cappuccino

$4.11 ISK 503

$1.91 ฿62.6

115.18%

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

$3.12 ISK 382

$0.84 ฿27.41

271.43%

Water (0.33 liter bottle)

$2.50 ISK 307

$0.35 ฿11.51

614.29%

Local Beer (0.5 liter draught)

$8.16 ISK 999

$2.21 ฿72.1

269.23%

Imported Beer (0.33 liter bottle)

$8.16 ISK 999

$3.80 ฿124

114.74%

Milk (1 liter)

$1.96 ISK 240

$1.64 ฿53.5

19.51%

White Bread (500g)

$4.14 ISK 507

$1.62 ฿53.1

155.56%

Rice (white) (1kg)

$2.48 ISK 303

$1.18 ฿38.62

110.17%

Eggs

$6.35 ISK 777

$2.01 ฿65.8

215.92%

Local Cheese (1kg)

$18.44 ISK 2,258

$15.89 ฿520

16.05%

Chicken Fillets (1kg)

$23.91 ISK 2,928

$3.01 ฿98.5

694.35%

Beef Round Steak (1kg)

$42.20 ISK 5,166

$10.77 ฿352

291.83%

Apples (1kg)

$2.35 ISK 287

$2.61 ฿85.5

-9.96%

Banana (1kg)

$2.48 ISK 304

$1.22 ฿39.88

103.28%

Oranges (1kg)

$2.43 ISK 298

$1.70 ฿55.7

42.94%

Tomato (1kg)

$3.95 ISK 483

$1.58 ฿51.5

150.00%

Potato (1kg)

$3.21 ISK 393

$1.32 ฿43.14

143.18%

Onion (1kg)

$2.03 ISK 248

$1.17 ฿38.23

73.50%

Lettuce (1 head)

$3.08 ISK 377

$0.67 ฿21.98

359.70%

Water (1.5 liter bottle)

$1.94 ISK 238

$0.56 ฿18.32

246.43%

Cigarettes 20 Pack (Marlboro, Camel)

$13.45 ISK 1,646

$4.53 ฿148

196.91%

Wine (Bottle)

$16.12 ISK 1,974

$18.20 ฿595

-11.43%

Local Beer (0.5 liter bottle)

$3.71 ISK 454

$1.83 ฿60.0

102.73%

Imported Beer (0.33 liter bottle)

$2.80 ISK 343

$3.23 ฿106

-13.31%

One-way Ticket (Public Transport)

$3.52 ISK 432

$0.89 ฿29.00

295.51%

Public Transport Monthly Pass (Regular Price)

$74.8 ISK 9,164

$19.38 ฿634

286.17%

Taxi Start (Normal Tariff)

$6.24 ISK 765

$1.35 ฿44.20

362.22%

Taxi (Normal Tariff) (1km)

$2.30 ISK 281

$1.35 ฿44.05

70.37%

Taxi 1hour Waiting (Normal Tariff)

$85.2 ISK 10.4K

$8.25 ฿270

932.85%

Gasoline (1 liter)

$2.56 ISK 313

$1.27 ฿41.64

101.57%

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

$47.2K ISK 5.8M

$21.2K ฿691.8K

123.11%

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

$52.6K ISK 6.4M

$22.5K ฿735.3K

133.74%

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

$87.5 ISK 10.7K

$70.2 ฿2,294

24.79%

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

$27.94 ISK 3,421

$13.77 ฿450

102.90%

Internet (50+ Mbps, Unlimited Data)

$86.2 ISK 10.6K

$17.60 ฿575

389.60%

Gym Membership (Monthly)

$41.57 ฿1,360

Tennis Court (1 Hour on Weekend)

$6.60 ฿216

Cinema Ticket

$17.88 ISK 2,190

$5.78 ฿189

209.34%

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

$319 ISK 39.1K

$306 ฿10.0K

4.29%

International Primary School, 1 Child (Yearly)

$30.3K ISK 3.7M

$14.8K ฿484.8K

104.24%

Jeans (Levis 501 Or Similar)

$137 ISK 16.7K

$54.4 ฿1,778

151.06%

Summer Dress (H&M, Zara, etc)

$61.4 ISK 7,513

$26.14 ฿855

134.74%

Sport Shoes (Adidas, Nike)

$179 ISK 21.9K

$84.5 ฿2,764

111.17%

Men's Leather Business Shoes

$187 ISK 22.9K

$69.4 ฿2,270

168.90%

1-bedroom Apartment, City Center (Monthly)

$1,826 ISK 223.6K

$424 ฿13.9K

331.04%

1-bedroom Apartment, Outside City Center (Monthly)

$1,331 ISK 163.0K

$238 ฿7,788

458.98%

3-bedroom Apartment, City Center (Monthly)

$2,481 ISK 303.8K

$825 ฿27.0K

200.83%

3-bedroom Apartment, Outside City Center (Monthly)

$2,009 ISK 246.0K

$515 ฿16.8K

289.95%

Buy Apartment in City Center (m2)

$2,049 ฿67.0K

Buy Apartment Outside City Center (m2)

$1,523 ฿49.8K

Average Monthly Net Salary (After Tax)

$3,701 ISK 453.2K

$635 ฿20.8K

482.71%

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: April 26, 2026

Last update for Chiang Mai: April 27, 2026

Cost Breakdown

A central one-bedroom costs $1,826 in Keflavik versus $424 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 483% 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 $147 in Keflavik versus $19.00 in Chiang Mai. Monthly groceries follow the same trend: $560 vs $243 – 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 237% 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 $4,310 per month in Keflavik and $1,278 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 $319 per month in Keflavik and $306 in Chiang Mai. For families with young kids, this one expense can tip the scales when choosing between the two cities.

Groceries cost about 130% 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 $2,873. 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 $2,873 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.