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

Monthly Cost of Living

A single person spends $2,210 per month in Lisbon vs $243 in Bakkafjordur, rent included.

A couple spends around $3,311 per month in Lisbon vs $415 in Bakkafjordur, rent included.

A family of three spends $4,411 per month in Lisbon vs $587 in Bakkafjordur, rent included.

Lisbon costs about 809% more than Bakkafjordur, driven mainly by Eating Out.

Lisbon sits 65% above the global median, while Bakkafjordur is 82% below – they fall on opposite sides of the world average.

Meal at Budget Restaurant

$15.91 €13.70

Three-Course Dinner for Two, Mid-Range

$64.8 €55.8

Fast Food Meal (McDonalds, etc)

$10.51 €9.05

Cappuccino

$2.87 €2.47

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

$2.24 €1.93

Water (0.33 liter bottle)

$1.50 €1.30

Local Beer (0.5 liter draught)

$3.49 €3.01

Imported Beer (0.33 liter bottle)

$3.88 €3.34

Milk (1 liter)

$1.14 €0.98

White Bread (500g)

$1.75 €1.51

$2.18 ISK 269

-19.72%

Rice (white) (1kg)

$1.76 €1.51

$2.22 ISK 273

-20.72%

Eggs

$3.22 €2.77

$4.67 ISK 575

-31.05%

Local Cheese (1kg)

$13.49 €11.62

$8.77 ISK 1,080

53.82%

Chicken Fillets (1kg)

$7.91 €6.81

$11.20 ISK 1,379

-29.37%

Beef Round Steak (1kg)

$15.87 €13.67

$10.98 ISK 1,353

44.54%

Apples (1kg)

$2.31 €1.99

$2.17 ISK 267

6.45%

Banana (1kg)

$1.70 €1.46

$2.26 ISK 278

-24.78%

Oranges (1kg)

$2.01 €1.73

$2.16 ISK 266

-6.94%

Tomato (1kg)

$2.46 €2.12

$2.16 ISK 266

13.89%

Potato (1kg)

$1.84 €1.59

$2.23 ISK 275

-17.49%

Onion (1kg)

$2.00 €1.72

$2.18 ISK 269

-8.26%

Lettuce (1 head)

$1.93 €1.66

$1.01 ISK 125

91.09%

Water (1.5 liter bottle)

$0.79 €0.68

$1.98 ISK 244

-60.10%

Cigarettes 20 Pack (Marlboro, Camel)

$6.61 €5.69

Wine (Bottle)

$5.72 €4.93

Local Beer (0.5 liter bottle)

$1.37 €1.18

Imported Beer (0.33 liter bottle)

$2.97 €2.56

One-way Ticket (Public Transport)

$2.37 €2.04

Public Transport Monthly Pass (Regular Price)

$45.56 €39.23

Taxi Start (Normal Tariff)

$4.29 €3.69

Taxi (Normal Tariff) (1km)

$0.82 €0.70

Taxi 1hour Waiting (Normal Tariff)

$18.30 €15.76

Gasoline (1 liter)

$2.06 €1.78

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

$34.3K €29.5K

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

$39.3K €33.8K

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

$148 €127

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

$20.52 €17.67

Internet (50+ Mbps, Unlimited Data)

$39.61 €34.11

Gym Membership (Monthly)

$47.85 €41.20

Tennis Court (1 Hour on Weekend)

$18.92 €16.29

Cinema Ticket

$9.18 €7.91

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

$614 €529

International Primary School, 1 Child (Yearly)

$16.0K €13.8K

Jeans (Levis 501 Or Similar)

$105 €90.1

Summer Dress (H&M, Zara, etc)

$42.06 €36.22

Sport Shoes (Adidas, Nike)

$94.0 €80.9

Men's Leather Business Shoes

$120 €103

1-bedroom Apartment, City Center (Monthly)

$1,628 €1,402

1-bedroom Apartment, Outside City Center (Monthly)

$1,255 €1,081

3-bedroom Apartment, City Center (Monthly)

$3,030 €2,609

3-bedroom Apartment, Outside City Center (Monthly)

$2,020 €1,740

Buy Apartment in City Center (m2)

$7,800 €6,716

Buy Apartment Outside City Center (m2)

$4,273 €3,679

Average Monthly Net Salary (After Tax)

$1,603 €1,381

$5,902 ISK 726.8K

-72.83%

20-Year Fixed Mortgage Interest Rate (Annual %)

3.81

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

Last update for Lisbon: June 1, 2026

Last update for Bakkafjordur: June 2, 2026

Cost Breakdown

Salaries run about 268% 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 809% 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 $3,315 per month in Lisbon and $365 in Bakkafjordur. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Monthly expenses with rent come to $2,210 in Lisbon and $243 in Bakkafjordur. The difference isn't just one category – it shows up across housing, food, transport, and services.

Groceries cost about 9% 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 $243, than in Lisbon at $2,210. 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 $243 versus $2,210 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.