Last update: Oct 2026

Cost of Living Comparison Between Keflavik and Selfoss

For one person, living is cheaper in Keflavik: $3,018 a month against $3,416 in Selfoss, rent and utilities included – about $4,800 less a year. Higher rent and utilities in Selfoss outweigh lower spending on other living expenses.

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Cost of Living Index in Keflavik
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Keflavik Living Index

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Keflavik

🇮🇸 Iceland

$3,018

/mo nomad

Selfoss

🇮🇸 Iceland

$3,416

/mo nomad

Monthly Cost of Living

How much you'll spend in Keflavik and in Selfoss

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

Monthly costs for one person with rent: $3,018 in Keflavik versus $3,416 in Selfoss.

Keflavik $3,018
Selfoss $3,416

Estimated couple costs with rent: $4,529 in Keflavik versus $2,439 in Selfoss.

Keflavik $4,529
Selfoss $2,439

Monthly costs for a family of three with rent: $6,041 in Keflavik versus $1,461 in Selfoss.

Keflavik $6,041
Selfoss $1,461

Living in Keflavik costs roughly 12% less than in Selfoss.

Both cities are pricier than the global median: Keflavik 122% above, Selfoss 151% above.

Meal at Budget Restaurant

$24.11 ISK 2,927

Three-Course Dinner for Two, Mid-Range

$121 ISK 14.7K

Fast Food Meal (McDonalds, etc)

$20.25 ISK 2,458

$20.39 ISK 2,475

-0.69%

Cappuccino

$4.22 ISK 513

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

$3.36 ISK 408

Water (0.33 liter bottle)

$3.03 ISK 368

Local Beer (0.5 liter draught)

$8.25 ISK 1,001

$12.18 ISK 1,478

-32.27%

Imported Beer (0.33 liter bottle)

$8.15 ISK 990

Milk (1 liter)

$2.11 ISK 256

$1.77 ISK 215

19.21%

White Bread (500g)

$4.21 ISK 512

$7.65 ISK 929

-44.97%

Rice (white) (1kg)

$2.50 ISK 303

$4.55 ISK 552

-45.05%

Eggs

$6.55 ISK 796

$6.49 ISK 787

0.92%

Local Cheese (1kg)

$19.70 ISK 2,391

$17.25 ISK 2,094

14.20%

Chicken Fillets (1kg)

$23.90 ISK 2,902

$21.56 ISK 2,617

10.85%

Beef Round Steak (1kg)

$41.71 ISK 5,063

$33.60 ISK 4,078

24.14%

Apples (1kg)

$2.44 ISK 296

$2.83 ISK 343

-13.78%

Banana (1kg)

$2.41 ISK 292

$2.70 ISK 328

-10.74%

Oranges (1kg)

$2.50 ISK 303

$2.72 ISK 330

-8.09%

Tomato (1kg)

$4.16 ISK 504

$7.25 ISK 880

-42.62%

Potato (1kg)

$3.12 ISK 378

$3.24 ISK 394

-3.70%

Onion (1kg)

$1.64 ISK 199

$2.07 ISK 252

-20.77%

Lettuce (1 head)

$3.62 ISK 440

$3.70 ISK 449

-2.16%

Water (1.5 liter bottle)

$1.81 ISK 219

$1.34 ISK 163

35.07%

Cigarettes 20 Pack (Marlboro, Camel)

$13.85 ISK 1,681

$15.61 ISK 1,895

-11.27%

Wine (Bottle)

$16.32 ISK 1,981

Local Beer (0.5 liter bottle)

$3.73 ISK 453

Imported Beer (0.33 liter bottle)

$2.81 ISK 341

$1.15 ISK 140

144.35%

One-way Ticket (Public Transport)

$3.68 ISK 447

Public Transport Monthly Pass (Regular Price)

$77.2 ISK 9,366

Taxi Start (Normal Tariff)

$6.35 ISK 771

Taxi (Normal Tariff) (1km)

$2.59 ISK 314

Taxi 1hour Waiting (Normal Tariff)

$80.2 ISK 9,738

Gasoline (1 liter)

$2.00 ISK 243

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

$68.2K ISK 8.3M

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

$55.2K ISK 6.7M

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

$95.8 ISK 11.6K

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

$32.13 ISK 3,900

Internet (50+ Mbps, Unlimited Data)

$84.5 ISK 10.3K

Gym Membership (Monthly)

$76.7 ISK 9,316

Cinema Ticket

$19.58 ISK 2,377

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

$406 ISK 49.3K

International Primary School, 1 Child (Yearly)

$26.4K ISK 3.2M

Jeans (Levis 501 Or Similar)

$148 ISK 18.0K

Summer Dress (H&M, Zara, etc)

$66.8 ISK 8,104

Sport Shoes (Adidas, Nike)

$184 ISK 22.4K

Men's Leather Business Shoes

$190 ISK 23.1K

1-bedroom Apartment, City Center (Monthly)

$1,862 ISK 226.0K

1-bedroom Apartment, Outside City Center (Monthly)

$1,359 ISK 165.0K

$2,771 ISK 336.4K

-50.94%

3-bedroom Apartment, City Center (Monthly)

$2,527 ISK 306.7K

3-bedroom Apartment, Outside City Center (Monthly)

$2,040 ISK 247.7K

Average Monthly Net Salary (After Tax)

$3,819 ISK 463.6K

20-Year Fixed Mortgage Interest Rate (Annual %)

8.81

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

Last update for Keflavik: October 26, 2026

Last update for Selfoss: October 25, 2026

Monthly budget structure

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

Accommodation & Living

Keflavik

$1.4K 45%

Selfoss

–

Groceries & Markets

Keflavik

$566 18.8%

Selfoss

–

Eating Out

Keflavik

$387 12.8%

Selfoss

–

Clothing & Footwear

Keflavik

$265 8.8%

Selfoss

–

Monthly Utilities & Internet

Keflavik

$212 7%

Selfoss

–

Sport & Entertainment

Keflavik

$116 3.8%

Selfoss

–

Getting Around

Keflavik

$111 3.7%

Selfoss

–

Good to know

🇮🇸 Keflavik

🇮🇸 Selfoss

🕒 Local time

12:36 12:36 PM

Same time as Keflavik

🌤 Weather

👥 Population

15,000

9,000

💱 Currency

Icelandic Króna ISK kr

📈 Exchange rate

1,000 ISK = 8.24 USD

1,000 ISK = 7.38 EUR

1,000 ISK = 8.24 USD

1,000 ISK = 7.38 EUR

Exchange rates and currency converter

On the map

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Highest

Between locations

Keflavik Selfoss 76 km

From you

Keflavik
Selfoss

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 Selfoss: Cost of Living - Frequently Asked Questions

You’d need roughly $4,526 in Keflavik and $5,124 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 8% less for everyday groceries. It’s an unusual reversal that partly offsets higher costs elsewhere.

All in, you’ll spend $3,018 per month in Keflavik versus $3,416 in Selfoss – Keflavik is about 12% cheaper, which adds up to real savings over time.

Both cities are expensive relative to $2,000. Keflavik is the more realistic option, but even there you’ll need to be disciplined with housing, food, and fun money.

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 both considered safe, so it’s unlikely to be the deciding factor between them.