Last update: Oct 2026

Cost of Living Comparison Between Reykjavik and Bansko

For one person, living is cheaper in Bansko: $970 a month against $4,037 in Reykjavik, rent and utilities included – about $36,800 less a year. Rent and utilities account for about half of the difference.

193

Cost of Living Index in Reykjavik
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Reykjavik Living Index
47

Cost of Living Index in Bansko
Learn more

Bansko Living Index

Jump to prices

Reykjavik

🇮🇸 Iceland

$4,037

/mo nomad

Bansko

🇧🇬 Bulgaria

$970

/mo nomad

Monthly Cost of Living

How much you'll spend in Reykjavik and in Bansko

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 Bansko actually costs, broken down by who's living it.

A single person spends $4,037 per month in Reykjavik vs $970 in Bansko, rent included.

Reykjavik $4,037
Bansko $970

A couple spends around $5,666 per month in Reykjavik vs $1,464 in Bansko, rent included.

Reykjavik $5,666
Bansko $1,464

A family of three spends $7,295 per month in Reykjavik vs $1,957 in Bansko, rent included.

Reykjavik $7,295
Bansko $1,957

Reykjavik costs about 316% more than Bansko, and outside of rent the biggest gap is in groceries.

Reykjavik sits 201% above the global median, while Bansko is 28% below – they fall on opposite sides of the world average.

Meal at Budget Restaurant

$30.59 ISK 3,727

$8.66 BGN 15.15

253.23%

Three-Course Dinner for Two, Mid-Range

$136 ISK 16.5K

$46.63 BGN 81.6

190.61%

Fast Food Meal (McDonalds, etc)

$27.08 ISK 3,300

$9.01 BGN 15.77

200.55%

Cappuccino

$6.72 ISK 818

$2.24 BGN 3.92

200.00%

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

$3.27 ISK 399

$1.50 BGN 2.63

118.00%

Water (0.33 liter bottle)

$3.16 ISK 386

$0.86 BGN 1.51

267.44%

Local Beer (0.5 liter draught)

$13.91 ISK 1,695

$1.76 BGN 3.07

690.34%

Imported Beer (0.33 liter bottle)

$12.06 ISK 1,469

$2.00 BGN 3.51

503.00%

Milk (1 liter)

$2.04 ISK 248

$1.79 BGN 3.14

13.97%

White Bread (500g)

$4.32 ISK 526

$0.81 BGN 1.42

433.33%

Rice (white) (1kg)

$3.67 ISK 447

$1.52 BGN 2.66

141.45%

Eggs

$7.02 ISK 855

$2.30 BGN 4.02

205.22%

Local Cheese (1kg)

$22.01 ISK 2,682

$9.60 BGN 16.81

129.27%

Chicken Fillets (1kg)

$24.70 ISK 3,009

$6.32 BGN 11.06

290.82%

Beef Round Steak (1kg)

$42.66 ISK 5,198

$8.64 BGN 15.12

393.75%

Apples (1kg)

$3.37 ISK 411

$1.28 BGN 2.24

163.28%

Banana (1kg)

$2.85 ISK 347

$1.68 BGN 2.95

69.64%

Oranges (1kg)

$3.17 ISK 387

$1.70 BGN 2.98

86.47%

Tomato (1kg)

$6.39 ISK 779

$1.89 BGN 3.30

238.10%

Potato (1kg)

$4.01 ISK 489

$0.93 BGN 1.63

331.18%

Onion (1kg)

$1.64 ISK 200

$0.76 BGN 1.32

115.79%

Lettuce (1 head)

$3.80 ISK 462

$0.54 BGN 0.95

603.70%

Water (1.5 liter bottle)

$1.74 ISK 212

$0.58 BGN 1.02

200.00%

Cigarettes 20 Pack (Marlboro, Camel)

$13.80 ISK 1,681

$3.44 BGN 6.02

301.16%

Wine (Bottle)

$23.38 ISK 2,849

$5.14 BGN 9.00

354.86%

Local Beer (0.5 liter bottle)

$3.53 ISK 430

$1.11 BGN 1.94

218.02%

Imported Beer (0.33 liter bottle)

$3.45 ISK 420

$1.70 BGN 2.97

102.94%

One-way Ticket (Public Transport)

$5.77 ISK 703

$0.88 BGN 1.55

555.68%

Public Transport Monthly Pass (Regular Price)

$95.1 ISK 11.6K

$26.76 BGN 46.83

255.53%

Taxi Start (Normal Tariff)

$6.63 ISK 808

$1.29 BGN 2.26

413.95%

Taxi (Normal Tariff) (1km)

$2.79 ISK 340

$0.65 BGN 1.14

329.23%

Taxi 1hour Waiting (Normal Tariff)

$81.4 ISK 9,915

$10.18 BGN 17.81

699.31%

Gasoline (1 liter)

$2.11 ISK 257

$1.50 BGN 2.63

40.67%

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

$50.8K ISK 6.2M

$28.8K BGN 50.4K

76.39%

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

$52.7K ISK 6.4M

$21.5K BGN 37.5K

145.85%

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

$88.7 ISK 10.8K

$91.4 BGN 160

-3.03%

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

$31.53 ISK 3,842

$14.68 BGN 25.68

114.78%

Internet (50+ Mbps, Unlimited Data)

$84.6 ISK 10.3K

$12.07 BGN 21.12

601.24%

Gym Membership (Monthly)

$100 ISK 12.2K

$32.28 BGN 56.5

210.97%

Tennis Court (1 Hour on Weekend)

$48.20 ISK 5,873

$8.60 BGN 15.05

460.47%

Cinema Ticket

$19.87 ISK 2,422

$5.63 BGN 9.86

252.93%

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

$1,277 ISK 155.7K

$228 BGN 400

459.21%

International Primary School, 1 Child (Yearly)

$31.0K ISK 3.8M

$2,311 BGN 4,045

1239.13%

Jeans (Levis 501 Or Similar)

$161 ISK 19.6K

$30.48 BGN 53.3

427.76%

Summer Dress (H&M, Zara, etc)

$64.9 ISK 7,908

$19.01 BGN 33.26

241.40%

Sport Shoes (Adidas, Nike)

$183 ISK 22.3K

$45.53 BGN 79.7

301.14%

Men's Leather Business Shoes

$254 ISK 30.9K

$48.67 BGN 85.2

421.64%

1-bedroom Apartment, City Center (Monthly)

$2,499 ISK 304.6K

$521 BGN 913

379.28%

1-bedroom Apartment, Outside City Center (Monthly)

$2,000 ISK 243.7K

$367 BGN 643

444.47%

3-bedroom Apartment, City Center (Monthly)

$3,452 ISK 420.6K

$634 BGN 1,110

444.30%

3-bedroom Apartment, Outside City Center (Monthly)

$2,742 ISK 334.2K

$558 BGN 976

391.66%

Buy Apartment in City Center (m2)

$8,001 ISK 974.9K

$1,204 BGN 2,106

564.78%

Buy Apartment Outside City Center (m2)

$6,249 ISK 761.5K

$971 BGN 1,699

543.53%

Average Monthly Net Salary (After Tax)

$4,691 ISK 571.6K

$1,670 BGN 2,923

180.81%

20-Year Fixed Mortgage Interest Rate (Annual %)

8.81

2.99

194.65%

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

Last update for Reykjavik: October 4, 2026

Last update for Bansko: October 6, 2026

Monthly budget structure

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

Accommodation & Living

Reykjavik

$2K 50.9%

Bansko

$367 38% 81.6% $1.6K

Groceries & Markets

Reykjavik

$625 15.9%

Bansko

$193 20% 69.1% $432

Eating Out

Reykjavik

$526 13.4%

Bansko

$145 15% 72.4% $381

Clothing & Footwear

Reykjavik

$298 7.6%

Bansko

$65 6.7% 78.3% $233

Monthly Utilities & Internet

Reykjavik

$205 5.2%

Bansko

$118 12.2% 42.3% $87

Sport & Entertainment

Reykjavik

$140 3.6%

Bansko

$44 4.5% 68.9% $97

Getting Around

Reykjavik

$139 3.5%

Bansko

$35 3.6% 74.9% $104

Cost Breakdown

A central one-bedroom costs $2,499 in Reykjavik versus $521 in Bansko. Rent is usually the largest line item in a monthly budget, so the gap here sets the tone for the overall comparison.

Salaries run about 181% higher in Reykjavik, which partly offsets the higher cost of living there. Purchasing power depends on which expenses matter most to you.

A mid-range dinner for two costs $136 in Reykjavik versus $47.00 in Bansko. Monthly groceries follow the same trend: $625 vs $193 – making Bansko the more affordable choice for daily food spending.

Good to know

🇮🇸 Reykjavik

🇧🇬 Bansko

🕒 Local time

07:23 7:23 AM

10:23 10:23 AM

3 h ahead of Reykjavik

🌤 Weather

👥 Population

136,894 Capital

8,000

💱 Currency

Icelandic Króna ISK kr

Bulgarian Lev BGN лв.

📈 Exchange rate

1,000 ISK = 8.21 USD

1,000 ISK = 7.32 EUR

1 BGN = 0.571 USD

1 BGN = 0.509 EUR

Exchange rates and currency converter

BGN, USD, EUR to ISK – Icelandic Króna Converter

🇺🇸 United States Dollar ($)

🇮🇸 Icelandic Króna (kr)

Icelandic Króna exchange rates as of October 10, 2026: 1 USD = 122 ISK (1,000 ISK = 8.21 USD). 1 EUR = 137 ISK (1,000 ISK = 7.32 EUR).

Bulgarian Lev exchange rates as of October 10, 2026: 1 USD = 1.75 BGN (1 BGN = 0.571 USD). 1 EUR = 1.96 BGN (1 BGN = 0.509 EUR).

USD to ISK in detail →

On the map

Lowest

Highest

Between locations

Reykjavik Bansko 3,790 km ≈ 5 h nonstop flight

From you

Reykjavik
Bansko

Distances are measured in a straight line. Your location is detected approximately.

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 Bansko: Cost of Living - Frequently Asked Questions

Monthly costs with rent: $4,037 in Reykjavik, $970 in Bansko – roughly 316% apart. Outside of rent, the biggest gap is in groceries.

For a comfortable life, plan on about $6,055 per month in Reykjavik and $1,455 in Bansko. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Rent is clearly cheaper in Bansko, 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 $136 in Reykjavik and $47.00 in Bansko. That's a good indicator of the overall restaurant and café pricing gap between the two cities.

Monthly expenses with rent come to $4,037 in Reykjavik and $970 in Bansko. That's a gap of about 316%.

A $2,000 monthly budget goes further in Bansko, where all-in costs run around $970, than in Reykjavik at $4,037. In Bansko it covers expenses comfortably, while in Reykjavik it requires careful planning or may not stretch far enough.

It depends on your priorities. Reykjavik has an edge in some lifestyle areas, with costs from $970 in Bansko to $4,037 in Reykjavik. Climate, culture, job market, and personal taste all factor in.

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 Bansko. 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.