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

Monthly Cost of Living

A single person spends $3,883 per month in Reykjavik vs $2,882 in Akureyri, rent included.

A couple spends around $5,535 per month in Reykjavik vs $3,886 in Akureyri, rent included.

A family of three spends $7,188 per month in Reykjavik vs $4,890 in Akureyri, rent included.

Reykjavik costs about 35% 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

$27.17 ISK 3,346

$23.72 ISK 2,921

14.54%

Three-Course Dinner for Two, Mid-Range

$144 ISK 17.7K

$128 ISK 15.8K

11.98%

Fast Food Meal (McDonalds, etc)

$22.42 ISK 2,761

$22.22 ISK 2,737

0.90%

Cappuccino

$6.19 ISK 763

$4.83 ISK 595

28.16%

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

$3.28 ISK 405

$3.26 ISK 402

0.61%

Water (0.33 liter bottle)

$2.53 ISK 311

$3.03 ISK 374

-16.50%

Local Beer (0.5 liter draught)

$13.11 ISK 1,615

$10.68 ISK 1,315

22.75%

Imported Beer (0.33 liter bottle)

$11.43 ISK 1,408

$9.17 ISK 1,129

24.65%

Milk (1 liter)

$1.94 ISK 239

$2.89 ISK 356

-32.87%

White Bread (500g)

$4.29 ISK 528

$2.36 ISK 291

81.78%

Rice (white) (1kg)

$3.72 ISK 458

$3.14 ISK 386

18.47%

Eggs

$6.53 ISK 804

$8.08 ISK 996

-19.18%

Local Cheese (1kg)

$17.88 ISK 2,202

Chicken Fillets (1kg)

$24.10 ISK 2,968

$23.63 ISK 2,910

1.99%

Beef Round Steak (1kg)

$42.88 ISK 5,281

Apples (1kg)

$3.35 ISK 412

Banana (1kg)

$2.51 ISK 309

Oranges (1kg)

$3.13 ISK 385

Tomato (1kg)

$4.89 ISK 602

Potato (1kg)

$3.71 ISK 457

Onion (1kg)

$2.32 ISK 285

Lettuce (1 head)

$3.07 ISK 378

Water (1.5 liter bottle)

$1.99 ISK 246

Cigarettes 20 Pack (Marlboro, Camel)

$13.85 ISK 1,705

$13.17 ISK 1,622

5.16%

Wine (Bottle)

$23.47 ISK 2,891

Local Beer (0.5 liter bottle)

$3.62 ISK 446

Imported Beer (0.33 liter bottle)

$3.38 ISK 416

One-way Ticket (Public Transport)

$5.10 ISK 628

Public Transport Monthly Pass (Regular Price)

$85.4 ISK 10.5K

Taxi Start (Normal Tariff)

$6.28 ISK 773

Taxi (Normal Tariff) (1km)

$2.57 ISK 317

Taxi 1hour Waiting (Normal Tariff)

$85.8 ISK 10.6K

Gasoline (1 liter)

$2.52 ISK 310

$2.45 ISK 301

2.86%

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

$47.2K ISK 5.8M

$40.3K ISK 5.0M

16.92%

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

$51.8K ISK 6.4M

$64.0K ISK 7.9M

-19.09%

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

$86.9 ISK 10.7K

$120 ISK 14.8K

-27.71%

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

$26.94 ISK 3,317

$24.83 ISK 3,058

8.50%

Internet (50+ Mbps, Unlimited Data)

$85.9 ISK 10.6K

$164 ISK 20.2K

-47.54%

Gym Membership (Monthly)

$83.4 ISK 10.3K

$84.4 ISK 10.4K

-1.11%

Tennis Court (1 Hour on Weekend)

$37.54 ISK 4,623

Cinema Ticket

$17.53 ISK 2,159

$15.27 ISK 1,881

14.80%

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

$321 ISK 39.5K

$369 ISK 45.4K

-13.03%

International Primary School, 1 Child (Yearly)

$30.2K ISK 3.7M

Jeans (Levis 501 Or Similar)

$140 ISK 17.2K

$79.4 ISK 9,782

76.08%

Summer Dress (H&M, Zara, etc)

$60.6 ISK 7,456

Sport Shoes (Adidas, Nike)

$181 ISK 22.3K

$121 ISK 14.9K

49.65%

Men's Leather Business Shoes

$263 ISK 32.4K

1-bedroom Apartment, City Center (Monthly)

$2,175 ISK 267.8K

$1,790 ISK 220.5K

21.49%

1-bedroom Apartment, Outside City Center (Monthly)

$2,023 ISK 249.2K

$1,741 ISK 214.4K

16.19%

3-bedroom Apartment, City Center (Monthly)

$3,139 ISK 386.6K

3-bedroom Apartment, Outside City Center (Monthly)

$2,738 ISK 337.1K

$2,143 ISK 263.9K

27.76%

Buy Apartment in City Center (m2)

$8,022 ISK 987.9K

$6,370 ISK 784.4K

25.94%

Buy Apartment Outside City Center (m2)

$6,223 ISK 766.3K

$6,428 ISK 791.6K

-3.20%

Average Monthly Net Salary (After Tax)

$4,441 ISK 546.9K

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: May 30, 2026

Last update for Akureyri: June 1, 2026

Cost Breakdown

A central one-bedroom costs $2,175 in Reykjavik versus $1,790 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 $144 in Reykjavik versus $128 in Akureyri. Monthly groceries follow the same trend: $599 vs $216 – 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 35%, 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 $5,824 per month in Reykjavik and $4,322 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 $144 in Reykjavik and $128 in Akureyri. That's a good indicator of the overall restaurant and café pricing gap between the two cities.

Groceries cost about 178% 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 $3,883 in Reykjavik and $2,882 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.