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: $2,826 in Keflavik versus $3,533 in Selfoss.

Estimated couple costs with rent: $4,368 in Keflavik versus $2,478 in Selfoss.

Monthly costs for a family of three with rent: $5,910 in Keflavik versus $1,422 in Selfoss.

Living in Keflavik costs roughly 20% less than in Selfoss, driven mainly by Eating Out.

Both cities are pricier than the global median: Keflavik 110% above, Selfoss 163% above.

Meal at Budget Restaurant

$24.41 ISK 3,039

Three-Course Dinner for Two, Mid-Range

$147 ISK 18.2K

Fast Food Meal (McDonalds, etc)

$20.33 ISK 2,531

$19.63 ISK 2,444

3.57%

Cappuccino

$3.94 ISK 491

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

$3.13 ISK 390

Water (0.33 liter bottle)

$2.53 ISK 314

Local Beer (0.5 liter draught)

$8.12 ISK 1,011

$12.26 ISK 1,527

-33.77%

Imported Beer (0.33 liter bottle)

$8.23 ISK 1,024

Milk (1 liter)

$1.93 ISK 241

$1.75 ISK 218

10.29%

White Bread (500g)

$4.15 ISK 517

$7.42 ISK 924

-44.07%

Rice (white) (1kg)

$2.35 ISK 293

$4.32 ISK 538

-45.60%

Eggs

$6.18 ISK 769

$6.22 ISK 774

-0.64%

Local Cheese (1kg)

$18.22 ISK 2,268

$16.97 ISK 2,113

7.37%

Chicken Fillets (1kg)

$23.63 ISK 2,942

$21.17 ISK 2,635

11.62%

Beef Round Steak (1kg)

$43.19 ISK 5,377

$33.10 ISK 4,121

30.48%

Apples (1kg)

$2.36 ISK 293

$2.76 ISK 344

-14.49%

Banana (1kg)

$2.43 ISK 303

$2.59 ISK 322

-6.18%

Oranges (1kg)

$2.39 ISK 298

$2.57 ISK 320

-7.00%

Tomato (1kg)

$4.04 ISK 503

$7.15 ISK 891

-43.50%

Potato (1kg)

$3.04 ISK 378

$3.14 ISK 391

-3.18%

Onion (1kg)

$2.04 ISK 254

$2.07 ISK 257

-1.45%

Lettuce (1 head)

$3.14 ISK 391

$3.59 ISK 447

-12.53%

Water (1.5 liter bottle)

$1.95 ISK 243

$1.34 ISK 167

45.52%

Cigarettes 20 Pack (Marlboro, Camel)

$13.53 ISK 1,685

$15.37 ISK 1,914

-11.97%

Wine (Bottle)

$15.82 ISK 1,970

Local Beer (0.5 liter bottle)

$3.75 ISK 466

Imported Beer (0.33 liter bottle)

$2.74 ISK 341

$1.10 ISK 137

149.09%

One-way Ticket (Public Transport)

$3.57 ISK 444

Public Transport Monthly Pass (Regular Price)

$75.1 ISK 9,355

Taxi Start (Normal Tariff)

$6.45 ISK 804

Taxi (Normal Tariff) (1km)

$2.30 ISK 286

Taxi 1hour Waiting (Normal Tariff)

$85.4 ISK 10.6K

Gasoline (1 liter)

$2.47 ISK 308

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

$47.1K ISK 5.9M

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

$52.8K ISK 6.6M

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

$86.3 ISK 10.7K

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

$27.46 ISK 3,418

Internet (50+ Mbps, Unlimited Data)

$85.8 ISK 10.7K

Cinema Ticket

$17.45 ISK 2,173

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

$318 ISK 39.5K

International Primary School, 1 Child (Yearly)

$30.2K ISK 3.8M

Jeans (Levis 501 Or Similar)

$140 ISK 17.4K

Summer Dress (H&M, Zara, etc)

$62.6 ISK 7,790

Sport Shoes (Adidas, Nike)

$185 ISK 23.1K

Men's Leather Business Shoes

$184 ISK 22.9K

1-bedroom Apartment, City Center (Monthly)

$1,877 ISK 233.6K

1-bedroom Apartment, Outside City Center (Monthly)

$1,344 ISK 167.3K

$2,884 ISK 359.0K

-53.41%

3-bedroom Apartment, City Center (Monthly)

$2,475 ISK 308.2K

3-bedroom Apartment, Outside City Center (Monthly)

$2,042 ISK 254.2K

Average Monthly Net Salary (After Tax)

$3,650 ISK 454.4K

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: June 8, 2026

Last update for Selfoss: June 8, 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 25% in total monthly costs ($2,826 vs $3,533 including rent). Keflavik is meaningfully more affordable – a gap that matters a lot on a fixed or modest income.

You'd need roughly $4,239 in Keflavik and $5,299 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 9% less for everyday groceries. It's an unusual reversal that partly offsets higher costs elsewhere.

All in, you'll spend $2,826 per month in Keflavik versus $3,533 in Selfoss – a 25% gap that adds up to real savings over time for anyone picking the cheaper option.

At $2,826 in Keflavik versus $3,533 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 25% less than in Selfoss. Beyond cost, consider language, visa policies, and how big the international community is in each city.