Cost of Living Comparison Between Njardvik and Reykjavik Cost of Living Comparison Between Njardvik and Reykjavik

Monthly Cost of Living

Monthly costs for one person with rent: $3,074 in Njardvik versus $3,789 in Reykjavik.

Estimated couple costs with rent: $4,807 in Njardvik versus $5,477 in Reykjavik.

Monthly costs for a family of three with rent: $6,541 in Njardvik versus $7,165 in Reykjavik.

Living in Njardvik costs roughly 19% less than in Reykjavik, driven mainly by Getting Around.

Both cities are pricier than the global median: Njardvik 130% above, Reykjavik 183% above.

Meal at Budget Restaurant

$24.55 ISK 3,006

$26.55 ISK 3,251

-7.53%

Three-Course Dinner for Two, Mid-Range

$95.1 ISK 11.6K

$144 ISK 17.6K

-33.95%

Fast Food Meal (McDonalds, etc)

$16.24 ISK 1,988

$22.87 ISK 2,801

-28.99%

Cappuccino

$6.13 ISK 751

$5.98 ISK 732

2.51%

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

$1.64 ISK 201

$3.23 ISK 396

-49.23%

Water (0.33 liter bottle)

$2.43 ISK 297

$2.55 ISK 312

-4.71%

Local Beer (0.5 liter draught)

$10.35 ISK 1,267

$13.06 ISK 1,599

-20.75%

Imported Beer (0.33 liter bottle)

$11.45 ISK 1,402

$11.07 ISK 1,356

3.43%

Milk (1 liter)

$1.94 ISK 238

$1.87 ISK 229

3.74%

White Bread (500g)

$4.18 ISK 512

$4.33 ISK 530

-3.46%

Rice (white) (1kg)

$3.72 ISK 455

$3.63 ISK 444

2.48%

Eggs

$6.48 ISK 793

$6.51 ISK 797

-0.46%

Local Cheese (1kg)

$17.99 ISK 2,202

$18.39 ISK 2,251

-2.18%

Chicken Fillets (1kg)

$23.66 ISK 2,897

$24.53 ISK 3,004

-3.55%

Beef Round Steak (1kg)

$42.52 ISK 5,207

$43.02 ISK 5,268

-1.16%

Apples (1kg)

$3.25 ISK 398

$3.26 ISK 399

-0.31%

Banana (1kg)

$2.50 ISK 306

$2.42 ISK 296

3.31%

Oranges (1kg)

$3.00 ISK 368

$3.04 ISK 372

-1.32%

Tomato (1kg)

$4.92 ISK 603

$5.08 ISK 622

-3.15%

Potato (1kg)

$3.69 ISK 451

$3.57 ISK 437

3.36%

Onion (1kg)

$2.31 ISK 283

$2.40 ISK 294

-3.75%

Lettuce (1 head)

$3.15 ISK 385

$3.10 ISK 379

1.61%

Water (1.5 liter bottle)

$2.00 ISK 245

Cigarettes 20 Pack (Marlboro, Camel)

$13.51 ISK 1,655

$13.44 ISK 1,646

0.52%

Wine (Bottle)

$23.29 ISK 2,852

$23.20 ISK 2,841

0.39%

Local Beer (0.5 liter bottle)

$3.73 ISK 457

$3.73 ISK 456

Imported Beer (0.33 liter bottle)

$3.26 ISK 399

$3.37 ISK 412

-3.26%

One-way Ticket (Public Transport)

$5.34 ISK 653

Public Transport Monthly Pass (Regular Price)

$87.5 ISK 10.7K

Taxi Start (Normal Tariff)

$6.23 ISK 762

$6.27 ISK 768

-0.64%

Taxi (Normal Tariff) (1km)

$2.57 ISK 315

$2.56 ISK 313

0.39%

Taxi 1hour Waiting (Normal Tariff)

$87.6 ISK 10.7K

$87.5 ISK 10.7K

0.17%

Gasoline (1 liter)

$2.45 ISK 300

$2.48 ISK 303

-1.21%

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

$47.5K ISK 5.8M

$47.6K ISK 5.8M

-0.36%

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

$51.3K ISK 6.3M

$51.8K ISK 6.3M

-0.90%

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

$87.6 ISK 10.7K

$88.4 ISK 10.8K

-0.95%

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

$27.85 ISK 3,409

$27.80 ISK 3,404

0.18%

Internet (50+ Mbps, Unlimited Data)

$86.0 ISK 10.5K

$85.6 ISK 10.5K

0.49%

Gym Membership (Monthly)

$79.0 ISK 9,671

$83.2 ISK 10.2K

-5.07%

Tennis Court (1 Hour on Weekend)

$37.45 ISK 4,586

Cinema Ticket

$17.41 ISK 2,131

$17.88 ISK 2,190

-2.63%

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

$315 ISK 38.6K

$322 ISK 39.5K

-2.33%

International Primary School, 1 Child (Yearly)

$30.4K ISK 3.7M

$30.5K ISK 3.7M

-0.09%

Jeans (Levis 501 Or Similar)

$119 ISK 14.5K

$141 ISK 17.2K

-15.75%

Summer Dress (H&M, Zara, etc)

$61.3 ISK 7,505

$62.2 ISK 7,611

-1.38%

Sport Shoes (Adidas, Nike)

$181 ISK 22.2K

$179 ISK 22.0K

1.15%

Men's Leather Business Shoes

$269 ISK 32.9K

$261 ISK 31.9K

3.10%

1-bedroom Apartment, City Center (Monthly)

$2,244 ISK 274.8K

1-bedroom Apartment, Outside City Center (Monthly)

$1,456 ISK 178.3K

$2,065 ISK 252.8K

-29.48%

3-bedroom Apartment, City Center (Monthly)

$3,173 ISK 388.5K

3-bedroom Apartment, Outside City Center (Monthly)

$2,643 ISK 323.7K

$2,734 ISK 334.8K

-3.32%

Buy Apartment in City Center (m2)

$7,787 ISK 953.4K

Buy Apartment Outside City Center (m2)

$6,505 ISK 796.5K

Average Monthly Net Salary (After Tax)

$3,981 ISK 487.5K

$4,496 ISK 550.5K

-11.44%

20-Year Fixed Mortgage Interest Rate (Annual %)

9.63

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

Last update for Njardvik: April 27, 2026

Last update for Reykjavik: April 26, 2026

Cost Breakdown

Reykjavik pays 13% 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: $95.0 in Njardvik vs $144 in Reykjavik for a mid-range dinner for two. Groceries echo the gap at $594 vs $601 per month, with Njardvik 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

Njardvik vs Reykjavik: Cost of Living - Frequently Asked Questions

Njardvik is cheaper overall, especially in Groceries & Markets, Eating Out, Clothing & Footwear, Sport & Entertainment, Getting Around. The 23% gap adds up to real monthly savings that compound significantly over time.

On paper, Reykjavik earns 13% less. That's worth factoring in alongside costs, though remote workers earning in a stronger currency may not notice the difference at all.

Supermarket bills run roughly 1% higher in Reykjavik. For households that cook at home regularly, that difference adds up over a month.

All in, you'll spend $3,074 per month in Njardvik versus $3,789 in Reykjavik – a 23% gap that adds up to real savings over time for anyone picking the cheaper option.

At $3,074 in Njardvik versus $3,789 in Reykjavik, a $2,500 budget is realistic in Njardvik but tight or insufficient in Reykjavik. The gap between the two cities makes Njardvik the clear choice for anyone on this budget.

For families, Njardvik is more practical. Housing and childcare are both notably cheaper than in Reykjavik, and the savings on those two alone free up budget for education, activities, and family trips.

Safety-wise, Njardvik 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 Njardvik gentler on the wallet – expenses run 23% less than in Reykjavik. Beyond cost, consider language, visa policies, and how big the international community is in each city.