Cost of Living Comparison Between Lisbon and Selfoss Cost of Living Comparison Between Lisbon and Selfoss

Monthly Cost of Living

Monthly costs for one person with rent: $2,316 in Lisbon versus $3,532 in Selfoss.

Estimated couple costs with rent: $3,361 in Lisbon versus $2,484 in Selfoss.

Monthly costs for a family of three with rent: $4,405 in Lisbon versus $1,437 in Selfoss.

Living in Lisbon costs roughly 34% less than in Selfoss, driven mainly by Groceries & Markets.

Both cities are pricier than the global median: Lisbon 69% above, Selfoss 157% above.

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

$20.68 ISK 2,506

-44.92%

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

$12.61 ISK 1,529

-71.53%

Imported Beer (0.33 liter bottle)

$3.39 €2.93

Milk (1 liter)

$1.24 €1.07

$1.73 ISK 209

-28.32%

White Bread (500g)

$1.98 €1.71

$7.63 ISK 925

-74.05%

Rice (white) (1kg)

$1.52 €1.31

$4.43 ISK 537

-65.69%

Eggs

$4.04 €3.49

$6.36 ISK 770

-36.48%

Local Cheese (1kg)

$13.54 €11.68

$17.11 ISK 2,073

-20.86%

Chicken Fillets (1kg)

$8.39 €7.24

$21.32 ISK 2,583

-60.65%

Beef Round Steak (1kg)

$18.25 €15.75

$33.82 ISK 4,098

-46.04%

Apples (1kg)

$2.29 €1.98

$2.72 ISK 329

-15.81%

Banana (1kg)

$1.74 €1.50

$2.69 ISK 326

-35.32%

Oranges (1kg)

$1.86 €1.60

$2.70 ISK 327

-31.11%

Tomato (1kg)

$2.63 €2.27

$7.46 ISK 904

-64.75%

Potato (1kg)

$1.92 €1.65

$3.23 ISK 392

-40.56%

Onion (1kg)

$2.09 €1.81

$2.08 ISK 252

0.48%

Lettuce (1 head)

$1.44 €1.24

$3.65 ISK 442

-60.55%

Water (1.5 liter bottle)

$0.84 €0.73

$1.41 ISK 170

-40.43%

Cigarettes 20 Pack (Marlboro, Camel)

$6.78 €5.85

$15.32 ISK 1,856

-55.74%

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

$1.18 ISK 143

88.14%

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

$2,961 ISK 358.8K

-57.08%

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

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 Selfoss: August 30, 2026

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 Selfoss: Cost of Living - Frequently Asked Questions

Lisbon and Selfoss differ by about 52% in total monthly costs ($2,316 vs $3,532 including rent). Lisbon is meaningfully more affordable – a gap that matters a lot on a fixed or modest income.

You'd need roughly $3,474 in Lisbon and $5,298 in Selfoss to live well. The gap comes down to housing and overall price levels. Both cities are liveable on less, but these numbers represent actual comfort.

Supermarket bills run roughly 84% higher in Selfoss. For households that cook at home regularly, that difference adds up over a month.

All in, you'll spend $2,316 per month in Lisbon versus $3,532 in Selfoss – a 52% gap that adds up to real savings over time for anyone picking the cheaper option.

At $2,316 in Lisbon versus $3,532 in Selfoss, a $3,000 budget is realistic in Lisbon but tight or insufficient in Selfoss. The gap between the two cities makes Lisbon the clear choice for anyone on this budget.

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 Selfoss 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 52% less than in Selfoss. Beyond cost, consider language, visa policies, and how big the international community is in each city.