Cost of Living Comparison Between Lisbon and Akureyri Cost of Living Comparison Between Lisbon and Akureyri

Monthly Cost of Living

A single person spends $2,263 per month in Lisbon vs $2,857 in Akureyri, rent included.

A couple spends around $3,315 per month in Lisbon vs $3,910 in Akureyri, rent included.

A family of three spends $4,368 per month in Lisbon vs $4,964 in Akureyri, rent included.

Lisbon is about 21% cheaper than Akureyri, driven mainly by Eating Out.

Both Lisbon and Akureyri sit above the global median – Lisbon by 68%, Akureyri by 113%.

Meal at Budget Restaurant

$15.94 €13.73

$23.84 ISK 2,969

-33.14%

Three-Course Dinner for Two, Mid-Range

$63.4 €54.6

$129 ISK 16.0K

-50.74%

Fast Food Meal (McDonalds, etc)

$10.38 €8.95

$22.40 ISK 2,789

-53.66%

Cappuccino

$2.79 €2.40

$4.95 ISK 617

-43.64%

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

$2.34 €2.01

$3.28 ISK 409

-28.66%

Water (0.33 liter bottle)

$1.57 €1.35

$3.08 ISK 383

-49.03%

Local Beer (0.5 liter draught)

$3.43 €2.95

$10.68 ISK 1,330

-67.88%

Imported Beer (0.33 liter bottle)

$3.91 €3.37

$9.04 ISK 1,125

-56.75%

Milk (1 liter)

$1.08 €0.93

$2.87 ISK 357

-62.37%

White Bread (500g)

$1.77 €1.52

$2.31 ISK 288

-23.38%

Rice (white) (1kg)

$1.71 €1.47

$3.02 ISK 376

-43.38%

Eggs

$3.15 €2.71

$7.92 ISK 986

-60.23%

Local Cheese (1kg)

$13.68 €11.79

Chicken Fillets (1kg)

$8.01 €6.90

$24.30 ISK 3,026

-67.04%

Beef Round Steak (1kg)

$15.52 €13.37

Apples (1kg)

$2.29 €1.98

Banana (1kg)

$1.64 €1.41

Oranges (1kg)

$1.94 €1.67

Tomato (1kg)

$2.51 €2.17

Potato (1kg)

$1.79 €1.54

Onion (1kg)

$2.01 €1.73

Lettuce (1 head)

$1.97 €1.69

Water (1.5 liter bottle)

$0.84 €0.73

Cigarettes 20 Pack (Marlboro, Camel)

$6.79 €5.85

$13.20 ISK 1,643

-48.56%

Wine (Bottle)

$5.67 €4.89

Local Beer (0.5 liter bottle)

$1.39 €1.20

Imported Beer (0.33 liter bottle)

$3.02 €2.60

One-way Ticket (Public Transport)

$2.27 €1.95

Public Transport Monthly Pass (Regular Price)

$45.44 €39.15

Taxi Start (Normal Tariff)

$4.29 €3.70

Taxi (Normal Tariff) (1km)

$0.85 €0.73

Taxi 1hour Waiting (Normal Tariff)

$18.28 €15.75

Gasoline (1 liter)

$1.99 €1.71

$2.50 ISK 311

-20.40%

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

$35.0K €30.2K

$40.9K ISK 5.1M

-14.30%

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

$39.5K €34.1K

$63.6K ISK 7.9M

-37.84%

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

$146 €126

$120 ISK 14.9K

22.23%

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

$20.45 €17.62

$25.24 ISK 3,143

-18.98%

Internet (50+ Mbps, Unlimited Data)

$38.98 €33.58

$159 ISK 19.8K

-75.53%

Gym Membership (Monthly)

$48.98 €42.21

$82.4 ISK 10.3K

-40.58%

Tennis Court (1 Hour on Weekend)

$18.83 €16.22

Cinema Ticket

$9.52 €8.21

$14.82 ISK 1,845

-35.76%

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

$608 €524

$362 ISK 45.1K

67.82%

International Primary School, 1 Child (Yearly)

$16.5K €14.2K

Jeans (Levis 501 Or Similar)

$104 €89.5

$81.4 ISK 10.1K

27.61%

Summer Dress (H&M, Zara, etc)

$42.12 €36.29

Sport Shoes (Adidas, Nike)

$92.2 €79.5

$119 ISK 14.9K

-22.69%

Men's Leather Business Shoes

$120 €103

1-bedroom Apartment, City Center (Monthly)

$1,621 €1,397

$1,802 ISK 224.3K

-10.02%

1-bedroom Apartment, Outside City Center (Monthly)

$1,268 €1,092

$1,786 ISK 222.3K

-29.02%

3-bedroom Apartment, City Center (Monthly)

$3,048 €2,626

3-bedroom Apartment, Outside City Center (Monthly)

$2,009 €1,731

$2,144 ISK 266.9K

-6.30%

Buy Apartment in City Center (m2)

$7,663 €6,602

$6,488 ISK 807.7K

18.11%

Buy Apartment Outside City Center (m2)

$4,329 €3,730

$6,500 ISK 809.2K

-33.40%

Average Monthly Net Salary (After Tax)

$1,585 €1,366

20-Year Fixed Mortgage Interest Rate (Annual %)

3.81

9.4

-59.47%

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

Last update for Lisbon: June 8, 2026

Last update for Akureyri: June 6, 2026

Cost Breakdown

A central one-bedroom costs $1,621 in Lisbon versus $1,802 in Akureyri. Rent is usually the largest line item in a monthly budget, so the gap here sets the tone for the overall comparison.

A mid-range dinner for two costs $63.0 in Lisbon versus $129 in Akureyri. Groceries tell a different story – $269 in Lisbon vs $217 in Akureyri – so Akureyri wins on supermarket bills even if dining out costs more.

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

Lisbon vs Akureyri: Cost of Living - Frequently Asked Questions

Yes – Akureyri is pricier by about 26%, and the gap shows up most in Eating Out. It's not just housing either; the difference applies across most spending categories.

For a comfortable life, plan on about $3,394 per month in Lisbon and $4,285 in Akureyri. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Rent is clearly cheaper in Lisbon, especially for central apartments. Housing is actually the single biggest factor behind the overall cost gap between these two cities.

A mid-range dinner for two costs $63.0 in Lisbon and $129 in Akureyri. That's a good indicator of the overall restaurant and café pricing gap between the two cities.

Interestingly, groceries are about 24% cheaper in Akureyri – one category where the pricier city actually offers better value, probably thanks to stronger retail competition or local farming.

A $3,000 monthly budget goes further in Lisbon, where all-in costs run around $2,263, than in Akureyri at $2,857. In Lisbon it covers expenses comfortably, while in Akureyri it requires careful planning or may not stretch far enough.

Families tend to lean toward Lisbon – lower housing and cheaper childcare make a real difference, especially on a single income or when paying for private education.

Both have safer and rougher neighborhoods, but overall safety is comparable to other large cities. Neighborhood choice matters more than the city-level comparison – central, well-trafficked areas feel secure in both.

If budget matters most, go with Lisbon. If higher salaries, better infrastructure, or specific career opportunities are the priority, Akureyri makes more sense. Both are solid long-term options with distinct trade-offs.