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: $3,069 in Keflavik versus $3,496 in Selfoss.

Estimated couple costs with rent: $4,595 in Keflavik versus $2,470 in Selfoss.

Monthly costs for a family of three with rent: $6,122 in Keflavik versus $1,444 in Selfoss.

Living in Keflavik costs roughly 12% less than in Selfoss, driven mainly by Clothing & Footwear.

Both cities are pricier than the global median: Keflavik 124% above, Selfoss 156% above.

Meal at Budget Restaurant

$24.41 ISK 2,974

Three-Course Dinner for Two, Mid-Range

$137 ISK 16.7K

Fast Food Meal (McDonalds, etc)

$20.50 ISK 2,497

$20.93 ISK 2,549

-2.05%

Cappuccino

$4.01 ISK 489

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

$3.22 ISK 392

Water (0.33 liter bottle)

$3.35 ISK 408

Local Beer (0.5 liter draught)

$8.49 ISK 1,035

$12.41 ISK 1,512

-31.59%

Imported Beer (0.33 liter bottle)

$8.34 ISK 1,016

Milk (1 liter)

$2.02 ISK 246

$1.76 ISK 215

14.77%

White Bread (500g)

$4.32 ISK 526

$7.28 ISK 886

-40.66%

Rice (white) (1kg)

$2.40 ISK 292

$4.49 ISK 546

-46.55%

Eggs

$6.45 ISK 785

$6.59 ISK 802

-2.12%

Local Cheese (1kg)

$19.18 ISK 2,336

$17.00 ISK 2,071

12.82%

Chicken Fillets (1kg)

$23.88 ISK 2,909

$21.05 ISK 2,564

13.44%

Beef Round Steak (1kg)

$42.74 ISK 5,206

$34.45 ISK 4,196

24.06%

Apples (1kg)

$2.44 ISK 297

$2.74 ISK 333

-10.95%

Banana (1kg)

$2.41 ISK 293

$2.70 ISK 329

-10.74%

Oranges (1kg)

$2.44 ISK 297

$2.64 ISK 321

-7.58%

Tomato (1kg)

$4.23 ISK 515

$7.04 ISK 857

-39.91%

Potato (1kg)

$3.18 ISK 387

$3.27 ISK 398

-2.75%

Onion (1kg)

$1.67 ISK 203

$2.17 ISK 264

-23.04%

Lettuce (1 head)

$3.84 ISK 468

$3.56 ISK 433

7.87%

Water (1.5 liter bottle)

$1.84 ISK 224

$1.42 ISK 173

29.58%

Cigarettes 20 Pack (Marlboro, Camel)

$14.27 ISK 1,738

$15.55 ISK 1,894

-8.23%

Wine (Bottle)

$16.28 ISK 1,983

Local Beer (0.5 liter bottle)

$3.83 ISK 467

Imported Beer (0.33 liter bottle)

$2.83 ISK 345

$1.18 ISK 144

139.83%

One-way Ticket (Public Transport)

$3.60 ISK 439

Public Transport Monthly Pass (Regular Price)

$77.8 ISK 9,470

Taxi Start (Normal Tariff)

$6.53 ISK 796

Taxi (Normal Tariff) (1km)

$2.71 ISK 330

Taxi 1hour Waiting (Normal Tariff)

$75.5 ISK 9,196

Gasoline (1 liter)

$1.92 ISK 234

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

$51.7K ISK 6.3M

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

$54.7K ISK 6.7M

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

$87.5 ISK 10.7K

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

$33.19 ISK 4,043

Internet (50+ Mbps, Unlimited Data)

$84.8 ISK 10.3K

Gym Membership (Monthly)

$79.0 ISK 9,620

Cinema Ticket

$19.65 ISK 2,393

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

$415 ISK 50.5K

International Primary School, 1 Child (Yearly)

$30.8K ISK 3.8M

Jeans (Levis 501 Or Similar)

$158 ISK 19.3K

Summer Dress (H&M, Zara, etc)

$66.0 ISK 8,042

Sport Shoes (Adidas, Nike)

$177 ISK 21.5K

Men's Leather Business Shoes

$191 ISK 23.2K

1-bedroom Apartment, City Center (Monthly)

$1,875 ISK 228.3K

1-bedroom Apartment, Outside City Center (Monthly)

$1,340 ISK 163.2K

$2,832 ISK 344.9K

-52.69%

3-bedroom Apartment, City Center (Monthly)

$2,501 ISK 304.7K

3-bedroom Apartment, Outside City Center (Monthly)

$2,096 ISK 255.3K

Average Monthly Net Salary (After Tax)

$3,786 ISK 461.1K

20-Year Fixed Mortgage Interest Rate (Annual %)

8.88

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

Last update for Keflavik: September 14, 2026

Last update for Selfoss: September 12, 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 14% in total monthly costs ($3,069 vs $3,496 including rent). Keflavik is meaningfully more affordable – a gap that matters a lot on a fixed or modest income.

You'd need roughly $4,603 in Keflavik and $5,244 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 10% less for everyday groceries. It's an unusual reversal that partly offsets higher costs elsewhere.

All in, you'll spend $3,069 per month in Keflavik versus $3,496 in Selfoss – a 14% gap that adds up to real savings over time for anyone picking the cheaper option.

At $3,069 in Keflavik versus $3,496 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 14% less than in Selfoss. Beyond cost, consider language, visa policies, and how big the international community is in each city.