Cost of Living Comparison Between Reykjavik and Bakkafjordur Cost of Living Comparison Between Reykjavik and Bakkafjordur

😐 Solo nomad: Reykjavik is 606.7% more expensive than Bakkafjordur without rent, and 1439.6% more expensive with rent.

😐 Family of 3: Reykjavik is 746.9% more expensive than Bakkafjordur without rent, and 1104.8% more expensive with rent.

Meal at Budget Restaurant

$26.47 ISK 3,231

Three-Course Dinner for Two, Mid-Range

$142 ISK 17.4K

Fast Food Meal (McDonalds, etc)

$22.61 ISK 2,760

Cappuccino

$6.17 ISK 753

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

$3.35 ISK 409

Water (0.33 liter bottle)

$2.63 ISK 321

Local Beer (0.5 liter draught)

$12.64 ISK 1,543

Imported Beer (0.33 liter bottle)

$11.33 ISK 1,384

Milk (1 liter)

$1.93 ISK 236

White Bread (500g)

$4.15 ISK 507

$2.17 ISK 264

91.24%

Rice (white) (1kg)

$3.74 ISK 456

$2.25 ISK 274

66.22%

Eggs

$6.27 ISK 766

$4.92 ISK 601

27.44%

Local Cheese (1kg)

$17.92 ISK 2,188

$8.94 ISK 1,091

100.45%

Chicken Fillets (1kg)

$24.05 ISK 2,936

$11.17 ISK 1,364

115.31%

Beef Round Steak (1kg)

$42.07 ISK 5,136

$11.11 ISK 1,357

278.67%

Apples (1kg)

$3.22 ISK 393

$2.17 ISK 265

48.39%

Banana (1kg)

$2.52 ISK 307

$2.14 ISK 261

17.76%

Oranges (1kg)

$3.09 ISK 377

$2.24 ISK 273

37.95%

Tomato (1kg)

$5.09 ISK 621

$2.15 ISK 262

136.74%

Potato (1kg)

$3.58 ISK 437

$2.23 ISK 272

60.54%

Onion (1kg)

$2.44 ISK 297

$2.16 ISK 264

12.96%

Lettuce (1 head)

$3.18 ISK 389

$1.02 ISK 125

211.76%

Water (1.5 liter bottle)

$1.94 ISK 237

$2.04 ISK 250

-4.90%

Cigarettes 20 Pack (Marlboro, Camel)

$13.71 ISK 1,674

Wine (Bottle)

$22.59 ISK 2,758

Local Beer (0.5 liter bottle)

$3.55 ISK 434

Imported Beer (0.33 liter bottle)

$3.33 ISK 406

One-way Ticket (Public Transport)

$5.28 ISK 644

Public Transport Monthly Pass (Regular Price)

$87.1 ISK 10.6K

Taxi Start (Normal Tariff)

$6.25 ISK 763

Taxi (Normal Tariff) (1km)

$2.51 ISK 307

Taxi 1hour Waiting (Normal Tariff)

$84.7 ISK 10.3K

Gasoline (1 liter)

$2.46 ISK 300

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

$46.5K ISK 5.7M

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

$51.5K ISK 6.3M

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

$87.7 ISK 10.7K

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

$27.91 ISK 3,407

Internet (50+ Mbps, Unlimited Data)

$84.5 ISK 10.3K

Gym Membership (Monthly)

$82.7 ISK 10.1K

Tennis Court (1 Hour on Weekend)

$37.97 ISK 4,635

Cinema Ticket

$17.78 ISK 2,170

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

$324 ISK 39.6K

International Primary School, 1 Child (Yearly)

$29.7K ISK 3.6M

Jeans (Levis 501 Or Similar)

$140 ISK 17.1K

Summer Dress (H&M, Zara, etc)

$60.6 ISK 7,399

Sport Shoes (Adidas, Nike)

$181 ISK 22.1K

Men's Leather Business Shoes

$263 ISK 32.1K

1-bedroom Apartment, City Center (Monthly)

$2,250 ISK 274.7K

1-bedroom Apartment, Outside City Center (Monthly)

$2,007 ISK 245.0K

3-bedroom Apartment, City Center (Monthly)

$3,118 ISK 380.6K

3-bedroom Apartment, Outside City Center (Monthly)

$2,755 ISK 336.3K

Buy Apartment in City Center (m2)

$8,013 ISK 978.1K

Buy Apartment Outside City Center (m2)

$6,528 ISK 796.9K

Average Monthly Net Salary (After Tax)

$4,449 ISK 543.1K

$5,758 ISK 702.9K

-22.73%

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 Reykjavik: April 14, 2026

Last update for Bakkafjordur: April 14, 2026

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 other spots: cost of living compared

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