Cost of Living Comparison Between Lisbon and Reykjavik Cost of Living Comparison Between Lisbon and Reykjavik

Monthly Cost of Living

Monthly costs for one person with rent: $2,291 in Lisbon versus $3,869 in Reykjavik.

Estimated couple costs with rent: $3,322 in Lisbon versus $5,475 in Reykjavik.

Monthly costs for a family of three with rent: $4,354 in Lisbon versus $7,081 in Reykjavik.

Living in Lisbon costs roughly 41% less than in Reykjavik, driven mainly by Groceries & Markets.

Both cities are pricier than the global median: Lisbon 71% above, Reykjavik 190% above.

Meal at Budget Restaurant

$16.19 €14.17

$27.43 ISK 3,418

-40.98%

Three-Course Dinner for Two, Mid-Range

$63.3 €55.4

$142 ISK 17.7K

-55.45%

Fast Food Meal (McDonalds, etc)

$10.32 €9.03

$22.54 ISK 2,809

-54.21%

Cappuccino

$2.83 €2.48

$6.05 ISK 754

-53.22%

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

$2.29 €2.00

$3.22 ISK 402

-28.88%

Water (0.33 liter bottle)

$1.58 €1.38

$2.52 ISK 314

-37.30%

Local Beer (0.5 liter draught)

$3.40 €2.98

$12.93 ISK 1,611

-73.70%

Imported Beer (0.33 liter bottle)

$4.03 €3.52

$11.39 ISK 1,420

-64.62%

Milk (1 liter)

$1.09 €0.95

$1.89 ISK 235

-42.33%

White Bread (500g)

$1.75 €1.53

$4.19 ISK 522

-58.23%

Rice (white) (1kg)

$1.76 €1.54

$3.54 ISK 441

-50.28%

Eggs

$3.17 €2.77

$6.31 ISK 786

-49.76%

Local Cheese (1kg)

$13.19 €11.54

$18.00 ISK 2,243

-26.72%

Chicken Fillets (1kg)

$7.97 €6.97

$24.46 ISK 3,048

-67.42%

Beef Round Steak (1kg)

$15.53 €13.59

$41.94 ISK 5,226

-62.97%

Apples (1kg)

$2.37 €2.07

$3.33 ISK 415

-28.83%

Banana (1kg)

$1.71 €1.49

$2.40 ISK 300

-28.75%

Oranges (1kg)

$2.01 €1.76

$3.03 ISK 377

-33.66%

Tomato (1kg)

$2.43 €2.13

$5.13 ISK 639

-52.63%

Potato (1kg)

$1.76 €1.54

$3.66 ISK 455

-51.91%

Onion (1kg)

$2.03 €1.78

$2.42 ISK 302

-16.12%

Lettuce (1 head)

$1.92 €1.68

$3.17 ISK 394

-39.43%

Water (1.5 liter bottle)

$0.85 €0.74

$1.93 ISK 241

-55.96%

Cigarettes 20 Pack (Marlboro, Camel)

$6.58 €5.76

$13.76 ISK 1,714

-52.18%

Wine (Bottle)

$5.58 €4.88

$22.67 ISK 2,825

-75.39%

Local Beer (0.5 liter bottle)

$1.33 €1.17

$3.75 ISK 467

-64.53%

Imported Beer (0.33 liter bottle)

$2.97 €2.60

$3.26 ISK 406

-8.90%

One-way Ticket (Public Transport)

$2.28 €1.99

$5.30 ISK 661

-56.98%

Public Transport Monthly Pass (Regular Price)

$45.79 €40.06

$88.2 ISK 11.0K

-48.10%

Taxi Start (Normal Tariff)

$4.23 €3.70

$6.51 ISK 811

-35.02%

Taxi (Normal Tariff) (1km)

$0.81 €0.71

$2.57 ISK 321

-68.48%

Taxi 1hour Waiting (Normal Tariff)

$18.44 €16.13

$86.4 ISK 10.8K

-78.66%

Gasoline (1 liter)

$2.08 €1.82

$2.52 ISK 314

-17.46%

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

$34.7K €30.3K

$47.7K ISK 5.9M

-27.38%

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

$39.2K €34.3K

$51.8K ISK 6.5M

-24.48%

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

$148 €130

$87.1 ISK 10.9K

69.98%

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

$20.46 €17.90

$27.13 ISK 3,380

-24.59%

Internet (50+ Mbps, Unlimited Data)

$39.56 €34.61

$85.4 ISK 10.6K

-53.68%

Gym Membership (Monthly)

$47.99 €41.99

$84.0 ISK 10.5K

-42.89%

Tennis Court (1 Hour on Weekend)

$18.60 €16.27

$38.12 ISK 4,750

-51.21%

Cinema Ticket

$9.22 €8.07

$17.35 ISK 2,162

-46.86%

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

$616 €539

$319 ISK 39.8K

93.02%

International Primary School, 1 Child (Yearly)

$16.4K €14.4K

$30.7K ISK 3.8M

-46.41%

Jeans (Levis 501 Or Similar)

$103 €89.9

$138 ISK 17.1K

-25.32%

Summer Dress (H&M, Zara, etc)

$41.74 €36.52

$62.8 ISK 7,821

-33.50%

Sport Shoes (Adidas, Nike)

$94.8 €82.9

$182 ISK 22.7K

-47.96%

Men's Leather Business Shoes

$122 €107

$269 ISK 33.5K

-54.65%

1-bedroom Apartment, City Center (Monthly)

$1,633 €1,428

$2,254 ISK 280.8K

-27.56%

1-bedroom Apartment, Outside City Center (Monthly)

$1,232 €1,078

$2,008 ISK 250.2K

-38.62%

3-bedroom Apartment, City Center (Monthly)

$3,098 €2,711

$3,231 ISK 402.6K

-4.12%

3-bedroom Apartment, Outside City Center (Monthly)

$2,031 €1,777

$2,756 ISK 343.4K

-26.30%

Buy Apartment in City Center (m2)

$7,831 €6,851

$7,955 ISK 991.2K

-1.56%

Buy Apartment Outside City Center (m2)

$4,389 €3,840

$6,156 ISK 767.1K

-28.70%

Average Monthly Net Salary (After Tax)

$1,607 €1,406

$4,438 ISK 553.0K

-63.79%

20-Year Fixed Mortgage Interest Rate (Annual %)

3.81

9.63

-60.44%

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

Last update for Lisbon: July 14, 2026

Last update for Reykjavik: July 11, 2026

Cost Breakdown

A one-bedroom apartment in the center runs $1,633 in Lisbon and $2,254 in Reykjavik. Housing cost is often the main lever when comparing two cities.

Reykjavik pays 176% 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 $142 in Reykjavik for a mid-range dinner for two. Groceries echo the gap at $267 vs $593 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 Reykjavik: Cost of Living - Frequently Asked Questions

Lisbon and Reykjavik differ by about 69% in total monthly costs ($2,291 vs $3,869 including rent). Lisbon is meaningfully more affordable – a gap that matters a lot on a fixed or modest income.

On paper, salaries run 176% lower in Reykjavik. 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: $1,633 in Lisbon versus $2,254 in Reykjavik. Housing is usually the single largest factor when comparing overall living costs between the two.

Childcare runs $616 in Lisbon versus $319 in Reykjavik. Over years of preschool, even a modest monthly gap compounds into a major financial factor for families.

Supermarket bills run roughly 122% higher in Reykjavik. For households that cook at home regularly, that difference adds up over a month.

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 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, Lisbon and Reykjavik 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 69% less than in Reykjavik. Beyond cost, consider language, visa policies, and how big the international community is in each city.