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

Meal at Budget Restaurant

$27.13 ISK 3,378

Three-Course Dinner for Two, Mid-Range

$147 ISK 18.3K

Fast Food Meal (McDonalds, etc)

$22.15 ISK 2,757

Cappuccino

$6.08 ISK 756

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

$3.24 ISK 404

Water (0.33 liter bottle)

$2.60 ISK 324

Local Beer (0.5 liter draught)

$13.07 ISK 1,627

Imported Beer (0.33 liter bottle)

$11.14 ISK 1,387

Milk (1 liter)

$1.86 ISK 231

White Bread (500g)

$4.34 ISK 541

Rice (white) (1kg)

$3.63 ISK 451

Eggs

$6.31 ISK 786

Local Cheese (1kg)

$18.05 ISK 2,247

Chicken Fillets (1kg)

$24.02 ISK 2,990

Beef Round Steak (1kg)

$43.15 ISK 5,372

Apples (1kg)

$3.26 ISK 406

Banana (1kg)

$2.45 ISK 304

Oranges (1kg)

$3.11 ISK 387

Tomato (1kg)

$4.87 ISK 606

Potato (1kg)

$3.68 ISK 459

Onion (1kg)

$2.34 ISK 291

Lettuce (1 head)

$3.04 ISK 379

Water (1.5 liter bottle)

$1.92 ISK 239

Cigarettes 20 Pack (Marlboro, Camel)

$13.59 ISK 1,692

Wine (Bottle)

$23.29 ISK 2,900

Local Beer (0.5 liter bottle)

$3.71 ISK 462

Imported Beer (0.33 liter bottle)

$3.30 ISK 411

One-way Ticket (Public Transport)

$5.08 ISK 633

Public Transport Monthly Pass (Regular Price)

$88.4 ISK 11.0K

Taxi Start (Normal Tariff)

$6.30 ISK 784

Taxi (Normal Tariff) (1km)

$2.64 ISK 328

Taxi 1hour Waiting (Normal Tariff)

$86.7 ISK 10.8K

Gasoline (1 liter)

$2.48 ISK 308

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

$46.4K ISK 5.8M

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

$52.0K ISK 6.5M

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

$89.0 ISK 11.1K

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

$27.11 ISK 3,376

Internet (50+ Mbps, Unlimited Data)

$83.7 ISK 10.4K

Gym Membership (Monthly)

$83.2 ISK 10.4K

Tennis Court (1 Hour on Weekend)

$37.19 ISK 4,630

Cinema Ticket

$17.41 ISK 2,167

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

$319 ISK 39.7K

International Primary School, 1 Child (Yearly)

$29.8K ISK 3.7M

Jeans (Levis 501 Or Similar)

$138 ISK 17.1K

Summer Dress (H&M, Zara, etc)

$60.8 ISK 7,569

Sport Shoes (Adidas, Nike)

$181 ISK 22.5K

Men's Leather Business Shoes

$269 ISK 33.5K

1-bedroom Apartment, City Center (Monthly)

$2,246 ISK 279.6K

1-bedroom Apartment, Outside City Center (Monthly)

$2,025 ISK 252.1K

3-bedroom Apartment, City Center (Monthly)

$3,220 ISK 400.9K

3-bedroom Apartment, Outside City Center (Monthly)

$2,728 ISK 339.6K

Buy Apartment in City Center (m2)

$7,686 ISK 957.0K

Buy Apartment Outside City Center (m2)

$6,267 ISK 780.3K

Average Monthly Net Salary (After Tax)

$4,442 ISK 553.0K

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: June 8, 2026

Last update for Bolungarvik: June 8, 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.