Cost of Living Comparison Between Reykjavik and Bolungarvik Cost of Living Comparison Between Reykjavik and Bolungarvik

Meal at Budget Restaurant

$30.27 ISK 3,684

Three-Course Dinner for Two, Mid-Range

$137 ISK 16.7K

Fast Food Meal (McDonalds, etc)

$26.80 ISK 3,262

Cappuccino

$7.01 ISK 853

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

$3.31 ISK 403

Water (0.33 liter bottle)

$3.30 ISK 401

Local Beer (0.5 liter draught)

$14.32 ISK 1,742

Imported Beer (0.33 liter bottle)

$12.50 ISK 1,521

Milk (1 liter)

$2.11 ISK 257

White Bread (500g)

$4.48 ISK 545

Rice (white) (1kg)

$3.61 ISK 439

Eggs

$7.19 ISK 875

Local Cheese (1kg)

$21.74 ISK 2,646

Chicken Fillets (1kg)

$25.40 ISK 3,091

Beef Round Steak (1kg)

$41.61 ISK 5,064

Apples (1kg)

$3.49 ISK 424

Banana (1kg)

$2.84 ISK 346

Oranges (1kg)

$3.22 ISK 392

Tomato (1kg)

$6.24 ISK 760

Potato (1kg)

$4.10 ISK 499

Onion (1kg)

$1.71 ISK 208

Lettuce (1 head)

$3.84 ISK 468

Water (1.5 liter bottle)

$1.83 ISK 223

Cigarettes 20 Pack (Marlboro, Camel)

$13.83 ISK 1,683

Wine (Bottle)

$24.00 ISK 2,921

Local Beer (0.5 liter bottle)

$3.71 ISK 452

Imported Beer (0.33 liter bottle)

$3.53 ISK 429

One-way Ticket (Public Transport)

$5.65 ISK 687

Public Transport Monthly Pass (Regular Price)

$93.4 ISK 11.4K

Taxi Start (Normal Tariff)

$6.69 ISK 815

Taxi (Normal Tariff) (1km)

$2.88 ISK 350

Taxi 1hour Waiting (Normal Tariff)

$73.6 ISK 8,962

Gasoline (1 liter)

$2.03 ISK 247

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

$51.5K ISK 6.3M

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

$54.7K ISK 6.7M

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

$90.3 ISK 11.0K

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

$33.11 ISK 4,029

Internet (50+ Mbps, Unlimited Data)

$85.4 ISK 10.4K

Gym Membership (Monthly)

$97.8 ISK 11.9K

Tennis Court (1 Hour on Weekend)

$49.71 ISK 6,049

Cinema Ticket

$19.90 ISK 2,422

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

$1,192 ISK 145.1K

International Primary School, 1 Child (Yearly)

$30.6K ISK 3.7M

Jeans (Levis 501 Or Similar)

$159 ISK 19.3K

Summer Dress (H&M, Zara, etc)

$66.0 ISK 8,037

Sport Shoes (Adidas, Nike)

$178 ISK 21.7K

Men's Leather Business Shoes

$258 ISK 31.4K

1-bedroom Apartment, City Center (Monthly)

$2,569 ISK 312.6K

1-bedroom Apartment, Outside City Center (Monthly)

$2,069 ISK 251.8K

3-bedroom Apartment, City Center (Monthly)

$3,500 ISK 425.9K

3-bedroom Apartment, Outside City Center (Monthly)

$2,785 ISK 339.0K

Buy Apartment in City Center (m2)

$7,989 ISK 972.2K

Buy Apartment Outside City Center (m2)

$6,540 ISK 796.0K

Average Monthly Net Salary (After Tax)

$4,765 ISK 579.9K

20-Year Fixed Mortgage Interest Rate (Annual %)

8.88

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

Last update for Reykjavik: September 27, 2026

Last update for Bolungarvik: September 28, 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 Bolungarvik: Cost of Living - Frequently Asked Questions

Families tend to lean toward Bolungarvik – 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 Bolungarvik. 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.