Cost of Living Comparison Between Lisbon and Bakkafjordur Cost of Living Comparison Between Lisbon and Bakkafjordur

Monthly Cost of Living

A single person spends $2,316 per month in Lisbon vs $245 in Bakkafjordur, rent included.

A couple spends around $3,361 per month in Lisbon vs $417 in Bakkafjordur, rent included.

A family of three spends $4,405 per month in Lisbon vs $590 in Bakkafjordur, rent included.

Lisbon costs about 847% more than Bakkafjordur, driven mainly by Eating Out.

Lisbon sits 69% above the global median, while Bakkafjordur is 82% below – they fall on opposite sides of the world average.

Meal at Budget Restaurant

$17.30 €14.93

Three-Course Dinner for Two, Mid-Range

$63.3 €54.6

Fast Food Meal (McDonalds, etc)

$11.39 €9.83

Cappuccino

$3.19 €2.75

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

$2.45 €2.11

Water (0.33 liter bottle)

$1.76 €1.52

Local Beer (0.5 liter draught)

$3.59 €3.10

Imported Beer (0.33 liter bottle)

$3.39 €2.93

Milk (1 liter)

$1.24 €1.07

White Bread (500g)

$1.98 €1.71

$2.26 ISK 273

-12.39%

Rice (white) (1kg)

$1.52 €1.31

$2.25 ISK 273

-32.44%

Eggs

$4.04 €3.49

$4.90 ISK 593

-17.55%

Local Cheese (1kg)

$13.54 €11.68

$8.69 ISK 1,053

55.81%

Chicken Fillets (1kg)

$8.39 €7.24

$11.23 ISK 1,360

-25.29%

Beef Round Steak (1kg)

$18.25 €15.75

$10.92 ISK 1,323

67.12%

Apples (1kg)

$2.29 €1.98

$2.23 ISK 270

2.69%

Banana (1kg)

$1.74 €1.50

$2.22 ISK 269

-21.62%

Oranges (1kg)

$1.86 €1.60

$2.25 ISK 273

-17.33%

Tomato (1kg)

$2.63 €2.27

$2.16 ISK 262

21.76%

Potato (1kg)

$1.92 €1.65

$2.25 ISK 273

-14.67%

Onion (1kg)

$2.09 €1.81

$2.25 ISK 273

-7.11%

Lettuce (1 head)

$1.44 €1.24

$1.01 ISK 122

42.57%

Water (1.5 liter bottle)

$0.84 €0.73

$1.99 ISK 241

-57.79%

Cigarettes 20 Pack (Marlboro, Camel)

$6.78 €5.85

Wine (Bottle)

$5.71 €4.93

Local Beer (0.5 liter bottle)

$1.38 €1.19

Imported Beer (0.33 liter bottle)

$2.22 €1.91

One-way Ticket (Public Transport)

$2.40 €2.07

Public Transport Monthly Pass (Regular Price)

$46.78 €40.37

Taxi Start (Normal Tariff)

$4.17 €3.60

Taxi (Normal Tariff) (1km)

$1.14 €0.98

Taxi 1hour Waiting (Normal Tariff)

$17.68 €15.26

Gasoline (1 liter)

$2.32 €2.01

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

$35.3K €30.5K

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

$41.4K €35.8K

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

$170 €147

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

$19.34 €16.69

Internet (50+ Mbps, Unlimited Data)

$33.64 €29.03

Gym Membership (Monthly)

$48.10 €41.50

Tennis Court (1 Hour on Weekend)

$19.90 €17.17

Cinema Ticket

$9.92 €8.56

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

$717 €619

International Primary School, 1 Child (Yearly)

$17.5K €15.1K

Jeans (Levis 501 Or Similar)

$105 €90.4

Summer Dress (H&M, Zara, etc)

$46.95 €40.51

Sport Shoes (Adidas, Nike)

$103 €89.2

Men's Leather Business Shoes

$124 €107

1-bedroom Apartment, City Center (Monthly)

$1,677 €1,447

1-bedroom Apartment, Outside City Center (Monthly)

$1,271 €1,097

3-bedroom Apartment, City Center (Monthly)

$2,985 €2,575

3-bedroom Apartment, Outside City Center (Monthly)

$1,992 €1,719

Buy Apartment in City Center (m2)

$7,826 €6,753

Buy Apartment Outside City Center (m2)

$4,658 €4,019

Average Monthly Net Salary (After Tax)

$1,583 €1,366

$5,847 ISK 708.6K

-72.93%

20-Year Fixed Mortgage Interest Rate (Annual %)

3.79

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

Last update for Lisbon: August 30, 2026

Last update for Bakkafjordur: August 30, 2026

Cost Breakdown

Salaries run about 269% higher in Bakkafjordur, which reinforces the cost advantage – you earn more and spend less. Purchasing power leans clearly in its favor.

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 Bakkafjordur: Cost of Living - Frequently Asked Questions

Lisbon costs about 847% more than Bakkafjordur, with the gap driven mainly by Eating Out. That's enough to noticeably affect everyday spending and lifestyle for anyone choosing between the two.

For a comfortable life, plan on about $3,474 per month in Lisbon and $367 in Bakkafjordur. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Monthly expenses with rent come to $2,316 in Lisbon and $245 in Bakkafjordur. The difference isn't just one category – it shows up across housing, food, transport, and services.

Groceries cost about 13% more in Lisbon, though it depends on what you buy. Local produce may be comparable; imported and premium items show the biggest price gap.

A $1,000 monthly budget goes further in Bakkafjordur, where all-in costs run around $245, than in Lisbon at $2,316. In Bakkafjordur it covers expenses comfortably, while in Lisbon it requires careful planning or may not stretch far enough.

For digital nomads, it depends on budget. Bakkafjordur costs $245 versus $2,316 in Lisbon. Both have workable remote work infrastructure, but the cost gap matters when income varies month to month.

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