Cost of Living Comparison Between Keflavik and Selfoss Cost of Living Comparison Between Keflavik and Selfoss

Monthly Cost of Living

Monthly costs for one person with rent: $2,853 in Keflavik versus $3,462 in Selfoss.

Estimated couple costs with rent: $4,401 in Keflavik versus $2,428 in Selfoss.

Monthly costs for a family of three with rent: $5,949 in Keflavik versus $1,394 in Selfoss.

Living in Keflavik costs roughly 18% less than in Selfoss, driven mainly by Eating Out.

Both cities are pricier than the global median: Keflavik 114% above, Selfoss 160% above.

Meal at Budget Restaurant

$23.97 ISK 2,962

Three-Course Dinner for Two, Mid-Range

$143 ISK 17.7K

Fast Food Meal (McDonalds, etc)

$20.29 ISK 2,508

$20.38 ISK 2,519

-0.44%

Cappuccino

$3.95 ISK 488

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

$3.18 ISK 393

Water (0.33 liter bottle)

$2.52 ISK 312

Local Beer (0.5 liter draught)

$7.95 ISK 983

$11.83 ISK 1,462

-32.80%

Imported Beer (0.33 liter bottle)

$8.18 ISK 1,011

Milk (1 liter)

$1.87 ISK 231

$1.74 ISK 215

7.47%

White Bread (500g)

$4.18 ISK 517

$7.09 ISK 876

-41.04%

Rice (white) (1kg)

$2.37 ISK 293

$4.28 ISK 529

-44.63%

Eggs

$6.43 ISK 795

Local Cheese (1kg)

$18.22 ISK 2,252

$16.96 ISK 2,096

7.43%

Chicken Fillets (1kg)

$24.11 ISK 2,980

$20.63 ISK 2,549

16.87%

Beef Round Steak (1kg)

$42.82 ISK 5,292

$32.75 ISK 4,047

30.75%

Apples (1kg)

$2.35 ISK 291

$2.69 ISK 333

-12.64%

Banana (1kg)

$2.44 ISK 302

$2.65 ISK 328

-7.92%

Oranges (1kg)

$2.36 ISK 291

$2.61 ISK 323

-9.58%

Tomato (1kg)

$4.00 ISK 494

$7.27 ISK 898

-44.98%

Potato (1kg)

$3.06 ISK 378

$3.18 ISK 393

-3.77%

Onion (1kg)

$2.01 ISK 249

$2.07 ISK 256

-2.90%

Lettuce (1 head)

$3.17 ISK 392

$3.56 ISK 440

-10.96%

Water (1.5 liter bottle)

$1.93 ISK 239

$1.38 ISK 171

39.86%

Cigarettes 20 Pack (Marlboro, Camel)

$13.80 ISK 1,706

$15.41 ISK 1,904

-10.45%

Wine (Bottle)

$15.90 ISK 1,965

Local Beer (0.5 liter bottle)

$3.74 ISK 462

Imported Beer (0.33 liter bottle)

$2.82 ISK 349

$1.14 ISK 141

147.37%

One-way Ticket (Public Transport)

$3.67 ISK 454

Public Transport Monthly Pass (Regular Price)

$74.3 ISK 9,183

Taxi Start (Normal Tariff)

$6.37 ISK 787

Taxi (Normal Tariff) (1km)

$2.26 ISK 279

Taxi 1hour Waiting (Normal Tariff)

$86.4 ISK 10.7K

Gasoline (1 liter)

$2.43 ISK 300

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

$47.5K ISK 5.9M

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

$52.0K ISK 6.4M

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

$86.6 ISK 10.7K

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

$27.84 ISK 3,441

Internet (50+ Mbps, Unlimited Data)

$86.2 ISK 10.7K

Cinema Ticket

$17.61 ISK 2,177

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

$318 ISK 39.3K

International Primary School, 1 Child (Yearly)

$29.7K ISK 3.7M

Jeans (Levis 501 Or Similar)

$141 ISK 17.4K

Summer Dress (H&M, Zara, etc)

$62.8 ISK 7,766

Sport Shoes (Adidas, Nike)

$180 ISK 22.3K

Men's Leather Business Shoes

$188 ISK 23.2K

1-bedroom Apartment, City Center (Monthly)

$1,829 ISK 226.0K

1-bedroom Apartment, Outside City Center (Monthly)

$1,350 ISK 166.8K

$2,903 ISK 358.8K

-53.51%

3-bedroom Apartment, City Center (Monthly)

$2,442 ISK 301.8K

3-bedroom Apartment, Outside City Center (Monthly)

$2,007 ISK 248.1K

Average Monthly Net Salary (After Tax)

$3,712 ISK 458.9K

20-Year Fixed Mortgage Interest Rate (Annual %)

9.63

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

Last update for Keflavik: July 26, 2026

Last update for Selfoss: July 25, 2026

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 Selfoss: Cost of Living - Frequently Asked Questions

Keflavik and Selfoss differ by about 21% in total monthly costs ($2,853 vs $3,462 including rent). Keflavik is meaningfully more affordable – a gap that matters a lot on a fixed or modest income.

You'd need roughly $4,279 in Keflavik and $5,192 in Selfoss to live well. The gap comes down to housing and overall price levels. Both cities are liveable on less, but these numbers represent actual comfort.

Shoppers in Selfoss pay roughly 11% less for everyday groceries. It's an unusual reversal that partly offsets higher costs elsewhere.

All in, you'll spend $2,853 per month in Keflavik versus $3,462 in Selfoss – a 21% gap that adds up to real savings over time for anyone picking the cheaper option.

At $2,853 in Keflavik versus $3,462 in Selfoss, a $2,000 budget is realistic in Keflavik but tight or insufficient in Selfoss. The gap between the two cities makes Keflavik 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 Selfoss 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 Keflavik gentler on the wallet – expenses run 21% less than in Selfoss. Beyond cost, consider language, visa policies, and how big the international community is in each city.