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: $2,873 in Keflavik versus $3,564 in Selfoss.

Estimated couple costs with rent: $4,433 in Keflavik versus $2,499 in Selfoss.

Monthly costs for a family of three with rent: $5,992 in Keflavik versus $1,435 in Selfoss.

Living in Keflavik costs roughly 19% less than in Selfoss, driven mainly by Eating Out.

Both cities are pricier than the global median: Keflavik 115% above, Selfoss 166% above.

Meal at Budget Restaurant

$23.97 ISK 2,936

Three-Course Dinner for Two, Mid-Range

$147 ISK 18.0K

Fast Food Meal (McDonalds, etc)

$19.75 ISK 2,419

$20.26 ISK 2,481

-2.52%

Cappuccino

$4.11 ISK 504

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

$3.12 ISK 382

Water (0.33 liter bottle)

$2.50 ISK 307

Local Beer (0.5 liter draught)

$8.16 ISK 999

$12.03 ISK 1,473

-32.17%

Imported Beer (0.33 liter bottle)

$8.16 ISK 999

Milk (1 liter)

$1.96 ISK 240

$1.74 ISK 214

12.64%

White Bread (500g)

$4.14 ISK 508

$7.26 ISK 889

-42.98%

Rice (white) (1kg)

$2.48 ISK 303

$4.53 ISK 555

-45.25%

Eggs

$6.35 ISK 778

$6.29 ISK 770

0.95%

Local Cheese (1kg)

$18.44 ISK 2,259

$16.50 ISK 2,021

11.76%

Chicken Fillets (1kg)

$23.91 ISK 2,929

$20.92 ISK 2,562

14.29%

Beef Round Steak (1kg)

$42.20 ISK 5,168

$33.41 ISK 4,092

26.31%

Apples (1kg)

$2.35 ISK 287

$2.70 ISK 331

-12.96%

Banana (1kg)

$2.48 ISK 304

$2.62 ISK 321

-5.34%

Oranges (1kg)

$2.43 ISK 298

$2.57 ISK 314

-5.45%

Tomato (1kg)

$3.95 ISK 483

$7.17 ISK 878

-44.91%

Potato (1kg)

$3.21 ISK 393

$3.19 ISK 391

0.63%

Onion (1kg)

$2.03 ISK 248

$2.05 ISK 251

-0.98%

Lettuce (1 head)

$3.08 ISK 377

$3.52 ISK 431

-12.50%

Water (1.5 liter bottle)

$1.94 ISK 238

$1.38 ISK 169

40.58%

Cigarettes 20 Pack (Marlboro, Camel)

$13.45 ISK 1,647

$14.96 ISK 1,833

-10.09%

Wine (Bottle)

$16.12 ISK 1,974

Local Beer (0.5 liter bottle)

$3.71 ISK 454

Imported Beer (0.33 liter bottle)

$2.80 ISK 343

$1.15 ISK 140

143.48%

One-way Ticket (Public Transport)

$3.52 ISK 432

Public Transport Monthly Pass (Regular Price)

$74.8 ISK 9,166

Taxi Start (Normal Tariff)

$6.24 ISK 765

Taxi (Normal Tariff) (1km)

$2.30 ISK 281

Taxi 1hour Waiting (Normal Tariff)

$85.2 ISK 10.4K

Gasoline (1 liter)

$2.56 ISK 313

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

$47.2K ISK 5.8M

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

$52.6K ISK 6.4M

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)

$27.94 ISK 3,422

Internet (50+ Mbps, Unlimited Data)

$86.2 ISK 10.6K

Cinema Ticket

$17.88 ISK 2,190

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

$319 ISK 39.1K

International Primary School, 1 Child (Yearly)

$30.3K ISK 3.7M

Jeans (Levis 501 Or Similar)

$137 ISK 16.7K

Summer Dress (H&M, Zara, etc)

$61.4 ISK 7,515

Sport Shoes (Adidas, Nike)

$179 ISK 21.9K

Men's Leather Business Shoes

$187 ISK 22.9K

1-bedroom Apartment, City Center (Monthly)

$1,826 ISK 223.6K

1-bedroom Apartment, Outside City Center (Monthly)

$1,331 ISK 163.1K

$2,864 ISK 350.8K

-53.51%

3-bedroom Apartment, City Center (Monthly)

$2,481 ISK 303.9K

3-bedroom Apartment, Outside City Center (Monthly)

$2,009 ISK 246.0K

Average Monthly Net Salary (After Tax)

$3,701 ISK 453.3K

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: April 26, 2026

Last update for Selfoss: April 28, 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 24% in total monthly costs ($2,873 vs $3,564 including rent). Keflavik is meaningfully more affordable – a gap that matters a lot on a fixed or modest income.

You'd need roughly $4,310 in Keflavik and $5,346 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 $2,873 per month in Keflavik versus $3,564 in Selfoss – a 24% gap that adds up to real savings over time for anyone picking the cheaper option.

At $2,873 in Keflavik versus $3,564 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 24% less than in Selfoss. Beyond cost, consider language, visa policies, and how big the international community is in each city.