Last update: Oct 2026

Cost of Living Comparison Between Keflavik and Lisbon

For one person, living is cheaper in Lisbon: $2,210 a month against $3,018 in Keflavik, rent and utilities included – about $9,700 less a year. Other living expenses account for most of the difference.

145

Cost of Living Index in Keflavik
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Keflavik Living Index
107

Cost of Living Index in Lisbon
Learn more

Lisbon Living Index

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Keflavik

🇮🇸 Iceland

$3,018

/mo nomad

Lisbon

🇵🇹 Portugal

$2,210

/mo nomad

Monthly Cost of Living

How much you'll spend in Keflavik and in Lisbon

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

Monthly costs for one person with rent: $3,018 in Keflavik versus $2,210 in Lisbon.

Keflavik $3,018
Lisbon $2,210

Estimated couple costs with rent: $4,529 in Keflavik versus $3,275 in Lisbon.

Keflavik $4,529
Lisbon $3,275

Monthly costs for a family of three with rent: $6,041 in Keflavik versus $4,341 in Lisbon.

Keflavik $6,041
Lisbon $4,341

Living in Keflavik is roughly 37% more expensive than in Lisbon, and outside of rent the biggest gap is in groceries.

Both cities are pricier than the global median: Keflavik 122% above, Lisbon 62% above.

Meal at Budget Restaurant

$24.11 ISK 2,927

$16.65 €14.91

44.80%

Three-Course Dinner for Two, Mid-Range

$121 ISK 14.7K

$61.7 €55.3

96.26%

Fast Food Meal (McDonalds, etc)

$20.25 ISK 2,458

$11.36 €10.17

78.26%

Cappuccino

$4.22 ISK 513

$2.97 €2.66

42.09%

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

$3.36 ISK 408

$2.29 €2.05

46.72%

Water (0.33 liter bottle)

$3.03 ISK 368

$1.74 €1.56

74.14%

Local Beer (0.5 liter draught)

$8.25 ISK 1,001

$3.40 €3.05

142.65%

Imported Beer (0.33 liter bottle)

$8.15 ISK 990

$3.31 €2.96

146.22%

Milk (1 liter)

$2.11 ISK 256

$1.16 €1.04

81.90%

White Bread (500g)

$4.21 ISK 512

$1.91 €1.71

120.42%

Rice (white) (1kg)

$2.50 ISK 303

$1.51 €1.35

65.56%

Eggs

$6.55 ISK 796

$4.02 €3.60

62.94%

Local Cheese (1kg)

$19.70 ISK 2,391

$12.94 €11.59

52.24%

Chicken Fillets (1kg)

$23.90 ISK 2,902

$7.77 €6.96

207.59%

Beef Round Steak (1kg)

$41.71 ISK 5,063

$17.76 €15.91

134.85%

Apples (1kg)

$2.44 ISK 296

$2.30 €2.06

6.09%

Banana (1kg)

$2.41 ISK 292

$1.73 €1.55

39.31%

Oranges (1kg)

$2.50 ISK 303

$1.86 €1.66

34.41%

Tomato (1kg)

$4.16 ISK 504

$2.59 €2.32

60.62%

Potato (1kg)

$3.12 ISK 378

$1.82 €1.63

71.43%

Onion (1kg)

$1.64 ISK 199

$1.97 €1.76

-16.75%

Lettuce (1 head)

$3.62 ISK 440

$1.47 €1.32

146.26%

Water (1.5 liter bottle)

$1.81 ISK 219

$0.72 €0.65

151.39%

Cigarettes 20 Pack (Marlboro, Camel)

$13.85 ISK 1,681

$6.58 €5.90

110.49%

Wine (Bottle)

$16.32 ISK 1,981

$5.61 €5.02

190.91%

Local Beer (0.5 liter bottle)

$3.73 ISK 453

$1.36 €1.22

174.26%

Imported Beer (0.33 liter bottle)

$2.81 ISK 341

$2.14 €1.91

31.31%

One-way Ticket (Public Transport)

$3.68 ISK 447

$2.33 €2.09

57.94%

Public Transport Monthly Pass (Regular Price)

$77.2 ISK 9,366

$44.68 €40.01

72.67%

Taxi Start (Normal Tariff)

$6.35 ISK 771

$3.85 €3.45

64.94%

Taxi (Normal Tariff) (1km)

$2.59 ISK 314

$1.07 €0.96

142.06%

Taxi 1hour Waiting (Normal Tariff)

$80.2 ISK 9,738

$16.46 €14.74

387.36%

Gasoline (1 liter)

$2.00 ISK 243

$2.20 €1.97

-9.09%

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

$68.2K ISK 8.3M

$34.2K €30.6K

99.41%

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

$55.2K ISK 6.7M

$38.7K €34.7K

42.56%

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

$95.8 ISK 11.6K

$161 €144

-40.60%

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

$32.13 ISK 3,900

$18.41 €16.49

74.52%

Internet (50+ Mbps, Unlimited Data)

$84.5 ISK 10.3K

$32.74 €29.32

158.16%

Gym Membership (Monthly)

$76.7 ISK 9,316

$44.55 €39.90

72.26%

Tennis Court (1 Hour on Weekend)

$19.10 €17.10

Cinema Ticket

$19.58 ISK 2,377

$9.60 €8.60

103.96%

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

$406 ISK 49.3K

$668 €598

-39.22%

International Primary School, 1 Child (Yearly)

$26.4K ISK 3.2M

$17.6K €15.8K

49.94%

Jeans (Levis 501 Or Similar)

$148 ISK 18.0K

$102 €91.4

45.26%

Summer Dress (H&M, Zara, etc)

$66.8 ISK 8,104

$44.46 €39.82

50.16%

Sport Shoes (Adidas, Nike)

$184 ISK 22.4K

$98.5 €88.2

87.26%

Men's Leather Business Shoes

$190 ISK 23.1K

$124 €111

53.53%

1-bedroom Apartment, City Center (Monthly)

$1,862 ISK 226.0K

$1,608 €1,440

15.77%

1-bedroom Apartment, Outside City Center (Monthly)

$1,359 ISK 165.0K

$1,190 €1,066

14.22%

3-bedroom Apartment, City Center (Monthly)

$2,527 ISK 306.7K

$2,812 €2,519

-10.16%

3-bedroom Apartment, Outside City Center (Monthly)

$2,040 ISK 247.7K

$2,013 €1,803

1.35%

Buy Apartment in City Center (m2)

$7,839 €7,021

Buy Apartment Outside City Center (m2)

$4,576 €4,098

Average Monthly Net Salary (After Tax)

$3,819 ISK 463.6K

$1,575 €1,411

142.48%

20-Year Fixed Mortgage Interest Rate (Annual %)

8.81

3.85

128.83%

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

Last update for Keflavik: October 26, 2026

Last update for Lisbon: October 27, 2026

Monthly budget structure

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

Accommodation & Living

Keflavik

$1.4K 45%

Lisbon

$1.2K 53.8% 12.4% $169

Groceries & Markets

Keflavik

$566 18.8%

Lisbon

$272 12.3% 51.9% $294

Eating Out

Keflavik

$387 12.8%

Lisbon

$243 11% 37.4% $145

Clothing & Footwear

Keflavik

$265 8.8%

Lisbon

$166 7.5% 37.4% $99

Monthly Utilities & Internet

Keflavik

$212 7%

Lisbon

$212 9.6% 0% $0

Sport & Entertainment

Keflavik

$116 3.8%

Lisbon

$64 2.9% 45% $52

Getting Around

Keflavik

$111 3.7%

Lisbon

$63 2.9% 43.1% $48

Cost Breakdown

A one-bedroom apartment in the center runs $1,862 in Keflavik and $1,608 in Lisbon. Housing cost is often the main lever when comparing two cities.

Keflavik pays about 2.4 times more on average. How far that income stretches comes down to housing choices and lifestyle.

Dining out: $121 in Keflavik vs $62 in Lisbon for a mid-range dinner for two. Groceries echo the gap at $566 vs $272 per month, with Lisbon cheaper across the board.

Good to know

🇮🇸 Keflavik

🇵🇹 Lisbon

🕒 Local time

15:49 3:49 PM

Same time as Keflavik

🌤 Weather

👥 Population

15,000

545,923 Capital

💱 Currency

Icelandic Króna ISK kr

Euro EUR €

📈 Exchange rate

1,000 ISK = 8.24 USD

1,000 ISK = 7.38 EUR

1 EUR = 1.12 USD

Exchange rates and currency converter

EUR, USD to ISK – Icelandic Króna Converter

🇺🇸 United States Dollar ($)

🇮🇸 Icelandic Króna (kr)

Icelandic Króna exchange rates as of November 1, 2026: 1 USD = 121 ISK (1,000 ISK = 8.24 USD). 1 EUR = 136 ISK (1,000 ISK = 7.38 EUR).

Euro exchange rates as of November 1, 2026: 1 USD = 0.896 EUR (1 EUR = 1.12 USD).

USD to ISK in detail →

On the map

Lowest

Highest

Between locations

Keflavik Lisbon 2,950 km ≈ 4 h 15 min nonstop flight

From you

Keflavik
Lisbon

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 Lisbon: Cost of Living - Frequently Asked Questions

Lisbon wins on cost – living expenses run 27% lower than in Keflavik. Housing and daily spending are where you’ll feel the difference most, making Lisbon the obvious pick if budget is a priority.

Average pay in Keflavik is about 2.4 times higher, 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: $1,862 in Keflavik versus $1,608 in Lisbon. Housing is usually the single largest factor when comparing overall living costs between the two.

A monthly transit pass in Lisbon runs roughly 42% less than in Keflavik. The price difference matters if you commute daily and watch your budget.

Childcare runs $406 in Keflavik versus $668 in Lisbon. Over years of preschool, even a modest monthly gap compounds into a major financial factor for families.

At $2,210 in Lisbon versus $3,018 in Keflavik, a $3,000 budget is realistic in Lisbon but tight or insufficient in Keflavik. The gap between the two cities makes Lisbon the clear choice for anyone on this budget.

Both cities offer a good standard of living with different trade-offs. Neither is objectively better – the right pick depends on what matters most: affordability, career, cultural scene, or climate.

Safety-wise, Keflavik and Lisbon are both considered safe, so it’s unlikely to be the deciding factor between them.

Expats usually find Lisbon gentler on the wallet – expenses run 27% less than in Keflavik. Beyond cost, consider language, visa policies, and how big the international community is in each city.