Cost of Living Comparison Between Reykjavik and Akureyri Cost of Living Comparison Between Reykjavik and Akureyri

Monthly Cost of Living

A single person spends $3,869 per month in Reykjavik vs $2,878 in Akureyri, rent included.

A couple spends around $5,475 per month in Reykjavik vs $3,875 in Akureyri, rent included.

A family of three spends $7,081 per month in Reykjavik vs $4,871 in Akureyri, rent included.

Reykjavik costs about 34% more than Akureyri, driven mainly by Groceries & Markets.

Both Reykjavik and Akureyri sit above the global median – Reykjavik by 190%, Akureyri by 115%.

Meal at Budget Restaurant

$27.43 ISK 3,418

$23.99 ISK 2,989

14.34%

Three-Course Dinner for Two, Mid-Range

$142 ISK 17.7K

$129 ISK 16.1K

10.33%

Fast Food Meal (McDonalds, etc)

$22.54 ISK 2,809

$22.32 ISK 2,781

0.99%

Cappuccino

$6.05 ISK 754

$4.83 ISK 602

25.26%

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

$3.22 ISK 402

$3.39 ISK 422

-5.01%

Water (0.33 liter bottle)

$2.52 ISK 314

$3.07 ISK 383

-17.92%

Local Beer (0.5 liter draught)

$12.93 ISK 1,611

$10.69 ISK 1,332

20.95%

Imported Beer (0.33 liter bottle)

$11.39 ISK 1,420

$9.08 ISK 1,132

25.44%

Milk (1 liter)

$1.89 ISK 235

$2.76 ISK 344

-31.52%

White Bread (500g)

$4.19 ISK 522

$2.28 ISK 284

83.77%

Rice (white) (1kg)

$3.54 ISK 441

$3.00 ISK 374

18.00%

Eggs

$6.31 ISK 786

$7.93 ISK 988

-20.43%

Local Cheese (1kg)

$18.00 ISK 2,243

Chicken Fillets (1kg)

$24.46 ISK 3,048

$23.73 ISK 2,956

3.08%

Beef Round Steak (1kg)

$41.94 ISK 5,226

Apples (1kg)

$3.33 ISK 415

Banana (1kg)

$2.40 ISK 300

Oranges (1kg)

$3.03 ISK 377

Tomato (1kg)

$5.13 ISK 639

Potato (1kg)

$3.66 ISK 455

Onion (1kg)

$2.42 ISK 302

Lettuce (1 head)

$3.17 ISK 394

Water (1.5 liter bottle)

$1.93 ISK 241

Cigarettes 20 Pack (Marlboro, Camel)

$13.76 ISK 1,714

$13.56 ISK 1,689

1.47%

Wine (Bottle)

$22.67 ISK 2,825

Local Beer (0.5 liter bottle)

$3.75 ISK 467

Imported Beer (0.33 liter bottle)

$3.26 ISK 406

One-way Ticket (Public Transport)

$5.30 ISK 661

Public Transport Monthly Pass (Regular Price)

$88.2 ISK 11.0K

Taxi Start (Normal Tariff)

$6.51 ISK 811

Taxi (Normal Tariff) (1km)

$2.57 ISK 321

Taxi 1hour Waiting (Normal Tariff)

$86.4 ISK 10.8K

Gasoline (1 liter)

$2.52 ISK 314

$2.54 ISK 317

-0.79%

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

$47.7K ISK 5.9M

$40.4K ISK 5.0M

18.09%

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

$51.8K ISK 6.5M

$64.1K ISK 8.0M

-19.07%

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

$87.1 ISK 10.9K

$120 ISK 15.0K

-27.56%

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

$27.13 ISK 3,380

$25.14 ISK 3,133

7.92%

Internet (50+ Mbps, Unlimited Data)

$85.4 ISK 10.6K

$160 ISK 19.9K

-46.60%

Gym Membership (Monthly)

$84.0 ISK 10.5K

0.08%

Tennis Court (1 Hour on Weekend)

$38.12 ISK 4,750

Cinema Ticket

$17.35 ISK 2,162

$15.09 ISK 1,880

14.98%

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

$319 ISK 39.8K

$367 ISK 45.7K

-12.98%

International Primary School, 1 Child (Yearly)

$30.7K ISK 3.8M

Jeans (Levis 501 Or Similar)

$138 ISK 17.1K

$82.0 ISK 10.2K

67.77%

Summer Dress (H&M, Zara, etc)

$62.8 ISK 7,821

Sport Shoes (Adidas, Nike)

$182 ISK 22.7K

$119 ISK 14.9K

52.74%

Men's Leather Business Shoes

$269 ISK 33.5K

1-bedroom Apartment, City Center (Monthly)

$2,254 ISK 280.8K

$1,774 ISK 221.1K

27.02%

1-bedroom Apartment, Outside City Center (Monthly)

$2,008 ISK 250.2K

$1,782 ISK 222.0K

12.68%

3-bedroom Apartment, City Center (Monthly)

$3,231 ISK 402.6K

3-bedroom Apartment, Outside City Center (Monthly)

$2,756 ISK 343.4K

$2,084 ISK 259.7K

32.23%

Buy Apartment in City Center (m2)

$7,955 ISK 991.2K

$6,329 ISK 788.6K

25.69%

Buy Apartment Outside City Center (m2)

$6,156 ISK 767.1K

$6,340 ISK 790.0K

-2.90%

Average Monthly Net Salary (After Tax)

$4,438 ISK 553.0K

20-Year Fixed Mortgage Interest Rate (Annual %)

9.63

9.4

2.45%

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

Last update for Reykjavik: July 11, 2026

Last update for Akureyri: July 13, 2026

Cost Breakdown

A central one-bedroom costs $2,254 in Reykjavik versus $1,774 in Akureyri. Rent is usually the largest line item in a monthly budget, so the gap here sets the tone for the overall comparison.

A mid-range dinner for two costs $142 in Reykjavik versus $129 in Akureyri. Monthly groceries follow the same trend: $593 vs $213 – making Akureyri the more affordable choice for daily food spending.

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

Reykjavik vs Akureyri: Cost of Living - Frequently Asked Questions

Yes – Reykjavik is pricier by about 34%, and the gap shows up most in Groceries & Markets. It's not just housing either; the difference applies across most spending categories.

For a comfortable life, plan on about $5,803 per month in Reykjavik and $4,317 in Akureyri. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Rent is clearly cheaper in Akureyri, especially for central apartments. Housing is actually the single biggest factor behind the overall cost gap between these two cities.

A mid-range dinner for two costs $142 in Reykjavik and $129 in Akureyri. That's a good indicator of the overall restaurant and café pricing gap between the two cities.

Groceries cost about 179% more in Reykjavik, though it depends on what you buy. Local produce may be comparable; imported and premium items show the biggest price gap.

$2,500 is a stretch for both – monthly costs hit $3,869 in Reykjavik and $2,878 in Akureyri. You'll need shared housing and careful budgeting no matter which city you pick.

Families tend to lean toward Akureyri – lower housing and cheaper childcare make a real difference, especially on a single income or when paying for private education.

Both have safer and rougher neighborhoods, but overall safety is comparable to other large cities. Neighborhood choice matters more than the city-level comparison – central, well-trafficked areas feel secure in both.

If budget matters most, go with Akureyri. If higher salaries, better infrastructure, or specific career opportunities are the priority, Reykjavik makes more sense. Both are solid long-term options with distinct trade-offs.