Cost of Living Comparison Between Lisbon and Keflavik Cost of Living Comparison Between Lisbon and Keflavik

Monthly Cost of Living

Monthly costs for one person with rent: $2,296 in Lisbon versus $3,069 in Keflavik.

Estimated couple costs with rent: $3,376 in Lisbon versus $4,595 in Keflavik.

Monthly costs for a family of three with rent: $4,457 in Lisbon versus $6,122 in Keflavik.

Living in Lisbon costs roughly 25% less than in Keflavik, driven mainly by Groceries & Markets.

Both cities are pricier than the global median: Lisbon 68% above, Keflavik 124% above.

Meal at Budget Restaurant

$17.59 €15.33

$24.41 ISK 2,974

-27.94%

Three-Course Dinner for Two, Mid-Range

$62.9 €54.8

$137 ISK 16.7K

-54.12%

Fast Food Meal (McDonalds, etc)

$11.58 €10.10

$20.50 ISK 2,497

-43.51%

Cappuccino

$3.10 €2.70

$4.01 ISK 489

-22.69%

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

$2.49 €2.17

$3.22 ISK 392

-22.67%

Water (0.33 liter bottle)

$1.74 €1.52

$3.35 ISK 408

-48.06%

Local Beer (0.5 liter draught)

$3.48 €3.03

$8.49 ISK 1,035

-59.01%

Imported Beer (0.33 liter bottle)

$3.44 €3.00

$8.34 ISK 1,016

-58.75%

Milk (1 liter)

$1.15 €1.00

$2.02 ISK 246

-43.07%

White Bread (500g)

$1.91 €1.66

$4.32 ISK 526

-55.79%

Rice (white) (1kg)

$1.50 €1.31

$2.40 ISK 292

-37.50%

Eggs

$3.98 €3.47

$6.45 ISK 785

-38.29%

Local Cheese (1kg)

$13.29 €11.59

$19.18 ISK 2,336

-30.71%

Chicken Fillets (1kg)

$8.01 €6.98

$23.88 ISK 2,909

-66.46%

Beef Round Steak (1kg)

$18.04 €15.73

$42.74 ISK 5,206

-57.79%

Apples (1kg)

$2.35 €2.05

$2.44 ISK 297

-3.69%

Banana (1kg)

$1.75 €1.53

$2.41 ISK 293

-27.39%

Oranges (1kg)

$1.85 €1.62

$2.44 ISK 297

-24.18%

Tomato (1kg)

$2.55 €2.22

$4.23 ISK 515

-39.72%

Potato (1kg)

$1.84 €1.61

$3.18 ISK 387

-42.14%

Onion (1kg)

$2.10 €1.83

$1.67 ISK 203

25.75%

Lettuce (1 head)

$1.49 €1.30

$3.84 ISK 468

-61.20%

Water (1.5 liter bottle)

$0.82 €0.71

$1.84 ISK 224

-55.43%

Cigarettes 20 Pack (Marlboro, Camel)

$7.10 €6.19

$14.27 ISK 1,738

-50.25%

Wine (Bottle)

$5.91 €5.15

$16.28 ISK 1,983

-63.70%

Local Beer (0.5 liter bottle)

$1.31 €1.15

$3.83 ISK 467

-65.80%

Imported Beer (0.33 liter bottle)

$2.13 €1.86

$2.83 ISK 345

-24.73%

One-way Ticket (Public Transport)

$2.36 €2.05

$3.60 ISK 439

-34.44%

Public Transport Monthly Pass (Regular Price)

$46.62 €40.63

$77.8 ISK 9,470

-40.04%

Taxi Start (Normal Tariff)

$4.08 €3.55

$6.53 ISK 796

-37.52%

Taxi (Normal Tariff) (1km)

$1.14 €0.99

$2.71 ISK 330

-57.93%

Taxi 1hour Waiting (Normal Tariff)

$17.09 €14.90

$75.5 ISK 9,196

-77.36%

Gasoline (1 liter)

$2.31 €2.01

$1.92 ISK 234

20.31%

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

$34.1K €29.7K

$51.7K ISK 6.3M

-33.98%

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

$41.4K €36.1K

$54.7K ISK 6.7M

-24.32%

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

$169 €147

$87.5 ISK 10.7K

92.67%

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

$19.33 €16.85

$33.19 ISK 4,043

-41.76%

Internet (50+ Mbps, Unlimited Data)

$33.51 €29.21

$84.8 ISK 10.3K

-60.50%

Gym Membership (Monthly)

$48.84 €42.57

$79.0 ISK 9,620

-38.16%

Tennis Court (1 Hour on Weekend)

$19.43 €16.94

Cinema Ticket

$9.57 €8.34

$19.65 ISK 2,393

-51.30%

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

$696 €607

$415 ISK 50.5K

67.85%

International Primary School, 1 Child (Yearly)

$17.4K €15.1K

$30.8K ISK 3.8M

-43.75%

Jeans (Levis 501 Or Similar)

$105 €91.8

$158 ISK 19.3K

-33.57%

Summer Dress (H&M, Zara, etc)

$47.75 €41.62

$66.0 ISK 8,042

-27.68%

Sport Shoes (Adidas, Nike)

$101 €87.6

$177 ISK 21.5K

-43.06%

Men's Leather Business Shoes

$124 €108

$191 ISK 23.2K

-34.78%

1-bedroom Apartment, City Center (Monthly)

$1,662 €1,449

$1,875 ISK 228.3K

-11.36%

1-bedroom Apartment, Outside City Center (Monthly)

$1,246 €1,086

$1,340 ISK 163.2K

-6.98%

3-bedroom Apartment, City Center (Monthly)

$2,965 €2,584

$2,501 ISK 304.7K

18.52%

3-bedroom Apartment, Outside City Center (Monthly)

$2,049 €1,786

$2,096 ISK 255.3K

-2.26%

Buy Apartment in City Center (m2)

$7,834 €6,829

Buy Apartment Outside City Center (m2)

$4,464 €3,892

Average Monthly Net Salary (After Tax)

$1,632 €1,422

$3,786 ISK 461.1K

-56.91%

20-Year Fixed Mortgage Interest Rate (Annual %)

3.78

8.88

-57.43%

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

Last update for Lisbon: September 12, 2026

Last update for Keflavik: September 14, 2026

Cost Breakdown

A one-bedroom apartment in the center runs $1,662 in Lisbon and $1,875 in Keflavik. Housing cost is often the main lever when comparing two cities.

Keflavik pays 132% more on average. The extra income cushions the higher costs, though housing choices and lifestyle decide how much of the gap is truly closed.

Dining out: $63.0 in Lisbon vs $137 in Keflavik for a mid-range dinner for two. Groceries echo the gap at $277 vs $569 per month, with Lisbon cheaper across the board.

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 Keflavik: Cost of Living - Frequently Asked Questions

Lisbon wins on cost – living expenses run 34% lower than in Keflavik. Housing and daily spending are where you'll feel the difference most, making Lisbon the obvious pick if budget is a priority.

On paper, salaries run 132% lower in Keflavik. That's worth factoring in alongside costs, though remote workers earning in a stronger currency may not notice the difference at all.

Rent for a central apartment: $1,662 in Lisbon versus $1,875 in Keflavik. Housing is usually the single largest factor when comparing overall living costs between the two.

A monthly transit pass in Lisbon runs roughly 67% less than in Keflavik. Both cities have functional networks, but the price difference matters if you're watching your budget.

Childcare runs $696 in Lisbon versus $415 in Keflavik. Over years of preschool, even a modest monthly gap compounds into a major financial factor for families.

Both cities are expensive relative to $3,000. Lisbon is the more realistic option, but even there you'll need to be disciplined with housing, food, and fun money.

Both work as nomad bases, but Lisbon delivers better value – similar infrastructure at $2,296 monthly. If stretching your runway or maximizing savings is the goal, the price difference makes Lisbon hard to pass up.

Safety-wise, Lisbon and Keflavik 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 Lisbon gentler on the wallet – expenses run 34% less than in Keflavik. Beyond cost, consider language, visa policies, and how big the international community is in each city.