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

Monthly Cost of Living

A single person spends $4,048 per month in Reykjavik vs $3,122 in Akureyri, rent included.

A couple spends around $5,736 per month in Reykjavik vs $4,153 in Akureyri, rent included.

A family of three spends $7,424 per month in Reykjavik vs $5,184 in Akureyri, rent included.

Reykjavik costs about 30% more than Akureyri, driven mainly by Groceries & Markets.

Both Reykjavik and Akureyri sit above the global median – Reykjavik by 195%, Akureyri by 127%.

Meal at Budget Restaurant

$30.26 ISK 3,667

$24.26 ISK 2,940

24.73%

Three-Course Dinner for Two, Mid-Range

$135 ISK 16.4K

$133 ISK 16.2K

1.56%

Fast Food Meal (McDonalds, etc)

$26.29 ISK 3,186

$22.44 ISK 2,719

17.16%

Cappuccino

$6.95 ISK 842

$4.94 ISK 599

40.69%

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

$3.30 ISK 400

$3.35 ISK 406

-1.49%

Water (0.33 liter bottle)

$3.35 ISK 406

$3.15 ISK 382

6.35%

Local Beer (0.5 liter draught)

$14.06 ISK 1,704

$11.19 ISK 1,356

25.65%

Imported Beer (0.33 liter bottle)

$12.60 ISK 1,527

$9.57 ISK 1,159

31.66%

Milk (1 liter)

$2.10 ISK 254

$2.74 ISK 332

-23.36%

White Bread (500g)

$4.47 ISK 542

$2.34 ISK 283

91.03%

Rice (white) (1kg)

$3.59 ISK 436

$3.19 ISK 386

12.54%

Eggs

$7.13 ISK 865

$7.64 ISK 926

-6.68%

Local Cheese (1kg)

$21.34 ISK 2,586

$15.73 ISK 1,907

35.66%

Chicken Fillets (1kg)

$24.37 ISK 2,953

$24.74 ISK 2,998

-1.50%

Beef Round Steak (1kg)

$42.10 ISK 5,102

Apples (1kg)

$3.35 ISK 406

Banana (1kg)

$2.82 ISK 341

$2.93 ISK 355

-3.75%

Oranges (1kg)

$3.21 ISK 389

$3.48 ISK 422

-7.76%

Tomato (1kg)

$6.24 ISK 756

$6.04 ISK 732

3.31%

Potato (1kg)

$4.01 ISK 487

Onion (1kg)

$1.70 ISK 206

Lettuce (1 head)

$3.83 ISK 464

Water (1.5 liter bottle)

$1.78 ISK 216

Cigarettes 20 Pack (Marlboro, Camel)

$13.75 ISK 1,666

$13.98 ISK 1,694

-1.65%

Wine (Bottle)

$24.28 ISK 2,942

Local Beer (0.5 liter bottle)

$3.79 ISK 460

Imported Beer (0.33 liter bottle)

$3.45 ISK 418

One-way Ticket (Public Transport)

$5.81 ISK 704

Public Transport Monthly Pass (Regular Price)

$92.7 ISK 11.2K

Taxi Start (Normal Tariff)

$6.84 ISK 829

Taxi (Normal Tariff) (1km)

$2.90 ISK 352

Taxi 1hour Waiting (Normal Tariff)

$74.5 ISK 9,033

Gasoline (1 liter)

$2.00 ISK 242

$2.65 ISK 321

-24.53%

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

$50.6K ISK 6.1M

$42.0K ISK 5.1M

20.42%

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

$53.4K ISK 6.5M

$66.7K ISK 8.1M

-19.88%

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

$89.6 ISK 10.9K

$122 ISK 14.7K

-26.40%

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

$33.11 ISK 4,013

$26.17 ISK 3,171

26.52%

Internet (50+ Mbps, Unlimited Data)

$85.1 ISK 10.3K

$163 ISK 19.7K

-47.64%

Gym Membership (Monthly)

$99.0 ISK 12.0K

$86.4 ISK 10.5K

14.59%

Tennis Court (1 Hour on Weekend)

$50.3 ISK 6,100

Cinema Ticket

$19.43 ISK 2,354

$15.18 ISK 1,840

28.00%

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

$1,173 ISK 142.1K

$375 ISK 45.4K

212.96%

International Primary School, 1 Child (Yearly)

$31.2K ISK 3.8M

Jeans (Levis 501 Or Similar)

$161 ISK 19.5K

$80.9 ISK 9,802

98.94%

Summer Dress (H&M, Zara, etc)

$65.1 ISK 7,890

Sport Shoes (Adidas, Nike)

$183 ISK 22.2K

$126 ISK 15.3K

45.14%

Men's Leather Business Shoes

$249 ISK 30.2K

1-bedroom Apartment, City Center (Monthly)

$2,506 ISK 303.7K

$1,827 ISK 221.5K

37.12%

1-bedroom Apartment, Outside City Center (Monthly)

$2,092 ISK 253.5K

$1,785 ISK 216.3K

17.21%

3-bedroom Apartment, City Center (Monthly)

$3,408 ISK 413.0K

3-bedroom Apartment, Outside City Center (Monthly)

$2,752 ISK 333.5K

$2,204 ISK 267.1K

24.86%

Buy Apartment in City Center (m2)

$7,972 ISK 966.1K

$6,515 ISK 789.5K

22.36%

Buy Apartment Outside City Center (m2)

$6,354 ISK 770.0K

$6,675 ISK 808.8K

-4.81%

Average Monthly Net Salary (After Tax)

$4,606 ISK 558.1K

20-Year Fixed Mortgage Interest Rate (Annual %)

8.88

9.4

-5.53%

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

Last update for Reykjavik: August 29, 2026

Last update for Akureyri: August 29, 2026

Cost Breakdown

A central one-bedroom costs $2,506 in Reykjavik versus $1,827 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 $135 in Reykjavik versus $133 in Akureyri. Monthly groceries follow the same trend: $625 vs $327 – 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 30%, 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 $6,073 per month in Reykjavik and $4,683 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 $135 in Reykjavik and $133 in Akureyri. That's a good indicator of the overall restaurant and café pricing gap between the two cities.

Groceries cost about 91% 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 $4,048 in Reykjavik and $3,122 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.