Last update: Oct 2026

Cost of Living Comparison Between Reykjavik and Akureyri

For one person, living is cheaper in Akureyri: $3,077 a month against $4,002 in Reykjavik, rent and utilities included – about $11,100 less a year. Other living expenses account for most of the difference.

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Cost of Living Index in Reykjavik
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Reykjavik Living Index

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Reykjavik

🇮🇸 Iceland

$4,002

/mo nomad

Akureyri

🇮🇸 Iceland

$3,077

/mo nomad

Monthly Cost of Living

How much you'll spend in Reykjavik and in Akureyri

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

A single person spends $4,002 per month in Reykjavik vs $3,077 in Akureyri, rent included.

Reykjavik $4,002
Akureyri $3,077

A couple spends around $5,705 per month in Reykjavik vs $4,153 in Akureyri, rent included.

Reykjavik $5,705
Akureyri $4,153

A family of three spends $7,407 per month in Reykjavik vs $5,229 in Akureyri, rent included.

Reykjavik $7,407
Akureyri $5,229

Reykjavik costs about 30% more than Akureyri, and outside of rent the biggest gap is in groceries.

Both Reykjavik and Akureyri sit above the global median – Reykjavik by 196%, Akureyri by 128%.

Meal at Budget Restaurant

$31.56 ISK 3,828

$24.88 ISK 3,018

26.85%

Three-Course Dinner for Two, Mid-Range

$122 ISK 14.8K

$129 ISK 15.7K

-5.37%

Fast Food Meal (McDonalds, etc)

$26.86 ISK 3,258

$22.70 ISK 2,753

18.33%

Cappuccino

$6.81 ISK 827

$5.07 ISK 615

34.32%

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

$3.39 ISK 411

$3.35 ISK 407

1.19%

Water (0.33 liter bottle)

$3.20 ISK 388

$3.03 ISK 368

5.61%

Local Beer (0.5 liter draught)

$14.14 ISK 1,715

$10.86 ISK 1,317

30.20%

Imported Beer (0.33 liter bottle)

$12.31 ISK 1,493

$9.32 ISK 1,131

32.08%

Milk (1 liter)

$2.10 ISK 255

$2.85 ISK 346

-26.32%

White Bread (500g)

$4.19 ISK 508

$2.31 ISK 281

81.39%

Rice (white) (1kg)

$3.72 ISK 451

$3.16 ISK 384

17.72%

Eggs

$7.05 ISK 856

$7.98 ISK 968

-11.65%

Local Cheese (1kg)

$21.56 ISK 2,615

$15.35 ISK 1,862

40.46%

Chicken Fillets (1kg)

$24.68 ISK 2,993

$24.80 ISK 3,008

-0.48%

Beef Round Steak (1kg)

$42.19 ISK 5,117

Apples (1kg)

$3.23 ISK 392

Banana (1kg)

$2.73 ISK 331

$2.85 ISK 346

-4.21%

Oranges (1kg)

$3.17 ISK 384

$3.51 ISK 426

-9.69%

Tomato (1kg)

$6.61 ISK 802

$6.15 ISK 746

7.48%

Potato (1kg)

$3.85 ISK 467

Onion (1kg)

$1.66 ISK 201

Lettuce (1 head)

$3.80 ISK 461

Water (1.5 liter bottle)

$1.75 ISK 212

Cigarettes 20 Pack (Marlboro, Camel)

$13.71 ISK 1,662

$13.88 ISK 1,684

-1.22%

Wine (Bottle)

$24.21 ISK 2,937

Local Beer (0.5 liter bottle)

$3.53 ISK 428

Imported Beer (0.33 liter bottle)

$3.32 ISK 402

One-way Ticket (Public Transport)

$5.75 ISK 697

Public Transport Monthly Pass (Regular Price)

$93.8 ISK 11.4K

Taxi Start (Normal Tariff)

$6.61 ISK 802

Taxi (Normal Tariff) (1km)

$2.90 ISK 352

Taxi 1hour Waiting (Normal Tariff)

$79.2 ISK 9,602

Gasoline (1 liter)

$2.09 ISK 253

$2.64 ISK 320

-20.83%

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

$51.0K ISK 6.2M

$41.7K ISK 5.1M

22.47%

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

$53.3K ISK 6.5M

$66.3K ISK 8.0M

-19.63%

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

$95.3 ISK 11.6K

$124 ISK 15.0K

-23.20%

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

$32.35 ISK 3,923

$25.96 ISK 3,149

24.61%

Internet (50+ Mbps, Unlimited Data)

$87.5 ISK 10.6K

$163 ISK 19.8K

-46.28%

Gym Membership (Monthly)

$102 ISK 12.4K

$84.4 ISK 10.2K

20.73%

Tennis Court (1 Hour on Weekend)

$50.1 ISK 6,074

Cinema Ticket

$19.88 ISK 2,412

$15.29 ISK 1,855

30.02%

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

$1,194 ISK 144.8K

$365 ISK 44.3K

227.01%

International Primary School, 1 Child (Yearly)

$25.4K ISK 3.1M

Jeans (Levis 501 Or Similar)

$149 ISK 18.1K

$83.1 ISK 10.1K

79.42%

Summer Dress (H&M, Zara, etc)

$66.6 ISK 8,080

Sport Shoes (Adidas, Nike)

$180 ISK 21.8K

$122 ISK 14.8K

47.25%

Men's Leather Business Shoes

$253 ISK 30.7K

1-bedroom Apartment, City Center (Monthly)

$2,549 ISK 309.2K

$1,829 ISK 221.8K

39.38%

1-bedroom Apartment, Outside City Center (Monthly)

$2,056 ISK 249.4K

$1,802 ISK 218.6K

14.09%

3-bedroom Apartment, City Center (Monthly)

$3,498 ISK 424.2K

3-bedroom Apartment, Outside City Center (Monthly)

$2,764 ISK 335.2K

$2,163 ISK 262.4K

27.77%

Buy Apartment in City Center (m2)

$8,120 ISK 984.9K

$6,455 ISK 783.0K

25.79%

Buy Apartment Outside City Center (m2)

$6,254 ISK 758.5K

$6,684 ISK 810.7K

-6.44%

Average Monthly Net Salary (After Tax)

$4,573 ISK 554.6K

20-Year Fixed Mortgage Interest Rate (Annual %)

8.81

9.4

-6.28%

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

Last update for Reykjavik: October 12, 2026

Last update for Akureyri: October 11, 2026

Monthly budget structure

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

Accommodation & Living

Reykjavik

$2.1K 51.4%

Akureyri

–

Groceries & Markets

Reykjavik

$623 15.6%

Akureyri

–

Eating Out

Reykjavik

$536 13.4%

Akureyri

–

Clothing & Footwear

Reykjavik

$292 7.3%

Akureyri

–

Monthly Utilities & Internet

Reykjavik

$215 5.4%

Akureyri

–

Sport & Entertainment

Reykjavik

$142 3.5%

Akureyri

–

Getting Around

Reykjavik

$138 3.5%

Akureyri

–

Cost Breakdown

A central one-bedroom costs $2,549 in Reykjavik versus $1,829 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 $122 in Reykjavik versus $129 in Akureyri. Groceries tell a different story – $623 in Reykjavik vs $328 in Akureyri – so Akureyri wins on supermarket bills even if dining out costs more.

Good to know

🇮🇸 Reykjavik

🇮🇸 Akureyri

🕒 Local time

19:42 7:42 PM

Same time as Reykjavik

🌤 Weather

👥 Population

136,894 Capital

19,219

💱 Currency

Icelandic Króna ISK kr

📈 Exchange rate

1,000 ISK = 8.24 USD

1,000 ISK = 7.33 EUR

1,000 ISK = 8.24 USD

1,000 ISK = 7.33 EUR

Exchange rates and currency converter

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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 30%, and outside of rent the gap shows up most in groceries.

For a comfortable life, plan on about $6,003 per month in Reykjavik and $4,616 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 $122 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 90% 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 $4,002 in Reykjavik and $3,077 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.