Last update: Oct 2026

Cost of Living Comparison Between Lisbon and Selfoss

For one person, living is cheaper in Lisbon: $2,223 a month against $3,423 in Selfoss, rent and utilities included – about $14,400 less a year. Higher rent and utilities in Selfoss outweigh lower spending on other living expenses.

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Cost of Living Index in Lisbon
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Lisbon Living Index

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Lisbon

🇵🇹 Portugal

$2,223

/mo nomad

Selfoss

🇮🇸 Iceland

$3,423

/mo nomad

Monthly Cost of Living

How much you'll spend in Lisbon and in Selfoss

Real prices from locals and on-the-ground checks – rent, groceries, transit and the daily extras. Here's what a month in Lisbon and in Selfoss actually costs, broken down by who's living it.

Monthly costs for one person with rent: $2,223 in Lisbon versus $3,423 in Selfoss.

Lisbon $2,223
Selfoss $3,423

Estimated couple costs with rent: $3,271 in Lisbon versus $2,440 in Selfoss.

Lisbon $3,271
Selfoss $2,440

Monthly costs for a family of three with rent: $4,319 in Lisbon versus $1,458 in Selfoss.

Lisbon $4,319
Selfoss $1,458

Living in Lisbon costs roughly 35% less than in Selfoss, and outside of rent the biggest gap is in groceries.

Both cities are pricier than the global median: Lisbon 65% above, Selfoss 154% above.

Meal at Budget Restaurant

$16.50 €14.67

Three-Course Dinner for Two, Mid-Range

$61.3 €54.5

Fast Food Meal (McDonalds, etc)

$11.27 €10.03

$20.48 ISK 2,484

-44.97%

Cappuccino

$3.06 €2.72

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

$2.26 €2.01

Water (0.33 liter bottle)

$1.73 €1.54

Local Beer (0.5 liter draught)

$3.39 €3.02

$12.21 ISK 1,481

-72.24%

Imported Beer (0.33 liter bottle)

$3.40 €3.02

Milk (1 liter)

$1.12 €1.00

$1.76 ISK 213

-36.36%

White Bread (500g)

$1.86 €1.65

$7.60 ISK 922

-75.53%

Rice (white) (1kg)

$1.53 €1.36

$4.49 ISK 544

-65.92%

Eggs

$3.96 €3.53

$6.43 ISK 780

-38.41%

Local Cheese (1kg)

$12.76 €11.35

$17.36 ISK 2,105

-26.50%

Chicken Fillets (1kg)

$7.90 €7.02

$21.64 ISK 2,624

-63.49%

Beef Round Steak (1kg)

$16.97 €15.09

$33.84 ISK 4,105

-49.85%

Apples (1kg)

$2.27 €2.02

$2.70 ISK 327

-15.93%

Banana (1kg)

$1.75 €1.55

$2.60 ISK 316

-32.69%

Oranges (1kg)

$1.85 €1.64

$2.64 ISK 320

-29.92%

Tomato (1kg)

$2.57 €2.28

$7.07 ISK 857

-63.65%

Potato (1kg)

$1.86 €1.65

$3.27 ISK 396

-43.12%

Onion (1kg)

$2.02 €1.80

$2.18 ISK 265

-7.34%

Lettuce (1 head)

$1.44 €1.28

$3.58 ISK 435

-59.78%

Water (1.5 liter bottle)

$0.82 €0.73

$1.37 ISK 166

-40.15%

Cigarettes 20 Pack (Marlboro, Camel)

$6.56 €5.83

$15.69 ISK 1,903

-58.19%

Wine (Bottle)

$5.62 €5.00

Local Beer (0.5 liter bottle)

$1.28 €1.14

Imported Beer (0.33 liter bottle)

$2.07 €1.84

$1.16 ISK 141

78.45%

One-way Ticket (Public Transport)

$2.35 €2.09

Public Transport Monthly Pass (Regular Price)

$44.18 €39.30

Taxi Start (Normal Tariff)

$3.99 €3.55

Taxi (Normal Tariff) (1km)

$1.09 €0.97

Taxi 1hour Waiting (Normal Tariff)

$16.64 €14.81

Gasoline (1 liter)

$2.28 €2.03

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

$33.7K €30.0K

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

$39.3K €35.0K

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

$167 €149

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

$18.80 €16.72

Internet (50+ Mbps, Unlimited Data)

$33.09 €29.43

Gym Membership (Monthly)

$46.01 €40.93

Tennis Court (1 Hour on Weekend)

$19.19 €17.07

Cinema Ticket

$9.84 €8.75

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

$677 €602

International Primary School, 1 Child (Yearly)

$16.9K €15.1K

Jeans (Levis 501 Or Similar)

$101 €90.1

Summer Dress (H&M, Zara, etc)

$45.76 €40.70

Sport Shoes (Adidas, Nike)

$100.0 €88.9

Men's Leather Business Shoes

$123 €109

1-bedroom Apartment, City Center (Monthly)

$1,614 €1,436

1-bedroom Apartment, Outside City Center (Monthly)

$1,197 €1,065

$2,779 ISK 337.1K

-56.93%

3-bedroom Apartment, City Center (Monthly)

$2,862 €2,545

3-bedroom Apartment, Outside City Center (Monthly)

$1,990 €1,770

Buy Apartment in City Center (m2)

$7,577 €6,740

Buy Apartment Outside City Center (m2)

$4,307 €3,831

Average Monthly Net Salary (After Tax)

$1,588 €1,412

20-Year Fixed Mortgage Interest Rate (Annual %)

3.85

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

Last update for Lisbon: October 11, 2026

Last update for Selfoss: October 11, 2026

Monthly budget structure

Share of the monthly basket for one person, rent included.

Accommodation & Living

Lisbon

$1.2K 53.9%

Selfoss

–

Groceries & Markets

Lisbon

$269 12.1%

Selfoss

–

Eating Out

Lisbon

$242 10.9%

Selfoss

–

Monthly Utilities & Internet

Lisbon

$219 9.9%

Selfoss

–

Clothing & Footwear

Lisbon

$166 7.5%

Selfoss

–

Sport & Entertainment

Lisbon

$66 3%

Selfoss

–

Getting Around

Lisbon

$63 2.8%

Selfoss

–

Good to know

🇵🇹 Lisbon

🇮🇸 Selfoss

🕒 Local time

22:56 10:56 PM

21:56 9:56 PM

1 h behind Lisbon

🌤 Weather

👥 Population

545,923 Capital

9,000

💱 Currency

Euro EUR €

Icelandic Króna ISK kr

📈 Exchange rate

1 EUR = 1.12 USD

1,000 ISK = 8.24 USD

1,000 ISK = 7.33 EUR

Exchange rates and currency converter

ISK, USD to EUR – Euro Converter

🇺🇸 United States Dollar ($)

🇪🇺 Euro (€)

Euro exchange rates as of October 18, 2026: 1 USD = 0.889 EUR (1 EUR = 1.12 USD).

Icelandic Króna exchange rates as of October 18, 2026: 1 USD = 121 ISK (1,000 ISK = 8.24 USD). 1 EUR = 136 ISK (1,000 ISK = 7.33 EUR).

USD to EUR in detail →

On the map

Lowest

Highest

Between locations

Lisbon Selfoss 2,910 km ≈ 4 h 15 min nonstop flight

From you

Lisbon
Selfoss

Distances are measured in a straight line. Your location is detected approximately.

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 54% in total monthly costs ($2,223 vs $3,423 including rent). Lisbon is meaningfully more affordable – a gap that matters a lot on a fixed or modest income.

You'd need roughly $3,335 in Lisbon and $5,135 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 93% higher in Selfoss. For households that cook at home regularly, that difference adds up over a month.

All in, you'll spend $2,223 per month in Lisbon versus $3,423 in Selfoss – a 54% gap that adds up to real savings over time for anyone picking the cheaper option.

At $2,223 in Lisbon versus $3,423 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 54% less than in Selfoss. Beyond cost, consider language, visa policies, and how big the international community is in each city.