Last update: Oct 2026

Cost of Living Comparison Between Reykjavik and Budapest

For one person, living is cheaper in Budapest: $1,621 a month against $4,037 in Reykjavik, rent and utilities included – about $29,000 less a year. Rent and utilities account for most of the difference.

193

Cost of Living Index in Reykjavik
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Reykjavik Living Index
79

Cost of Living Index in Budapest
Learn more

Budapest Living Index

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Reykjavik

🇮🇸 Iceland

$4,037

/mo nomad

Budapest

🇭🇺 Hungary

$1,621

/mo nomad

Monthly Cost of Living

How much you'll spend in Reykjavik and in Budapest

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

A single person spends $4,037 per month in Reykjavik vs $1,621 in Budapest, rent included.

Reykjavik $4,037
Budapest $1,621

A couple spends around $5,666 per month in Reykjavik vs $2,555 in Budapest, rent included.

Reykjavik $5,666
Budapest $2,555

A family of three spends $7,295 per month in Reykjavik vs $3,489 in Budapest, rent included.

Reykjavik $7,295
Budapest $3,489

Reykjavik costs about 149% more than Budapest, and outside of rent the biggest gap is in groceries.

Both Reykjavik and Budapest sit above the global median – Reykjavik by 201%, Budapest by 21%.

Meal at Budget Restaurant

$30.59 ISK 3,727

$13.99 Ft 4,555

118.66%

Three-Course Dinner for Two, Mid-Range

$136 ISK 16.5K

$60.3 Ft 19.7K

124.58%

Fast Food Meal (McDonalds, etc)

$27.08 ISK 3,300

$9.96 Ft 3,244

171.89%

Cappuccino

$6.72 ISK 818

$3.38 Ft 1,102

98.82%

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

$3.27 ISK 399

$2.13 Ft 693

53.52%

Water (0.33 liter bottle)

$3.16 ISK 386

$1.87 Ft 609

68.98%

Local Beer (0.5 liter draught)

$13.91 ISK 1,695

$3.75 Ft 1,222

270.93%

Imported Beer (0.33 liter bottle)

$12.06 ISK 1,469

$3.57 Ft 1,163

237.82%

Milk (1 liter)

$2.04 ISK 248

$1.13 Ft 369

80.53%

White Bread (500g)

$4.32 ISK 526

$1.84 Ft 600

134.78%

Rice (white) (1kg)

$3.67 ISK 447

$2.39 Ft 777

53.56%

Eggs

$7.02 ISK 855

$3.83 Ft 1,246

83.29%

Local Cheese (1kg)

$22.01 ISK 2,682

$11.33 Ft 3,689

94.26%

Chicken Fillets (1kg)

$24.70 ISK 3,009

$6.74 Ft 2,194

266.47%

Beef Round Steak (1kg)

$42.66 ISK 5,198

$14.69 Ft 4,784

190.40%

Apples (1kg)

$3.37 ISK 411

$1.84 Ft 598

83.15%

Banana (1kg)

$2.85 ISK 347

$2.01 Ft 654

41.79%

Oranges (1kg)

$3.17 ISK 387

$2.36 Ft 767

34.32%

Tomato (1kg)

$6.39 ISK 779

$3.77 Ft 1,227

69.50%

Potato (1kg)

$4.01 ISK 489

$0.96 Ft 314

317.71%

Onion (1kg)

$1.64 ISK 200

$1.03 Ft 335

59.22%

Lettuce (1 head)

$3.80 ISK 462

$1.56 Ft 509

143.59%

Water (1.5 liter bottle)

$1.74 ISK 212

$0.66 Ft 216

163.64%

Cigarettes 20 Pack (Marlboro, Camel)

$13.80 ISK 1,681

$7.96 Ft 2,594

73.37%

Wine (Bottle)

$23.38 ISK 2,849

$6.01 Ft 1,956

289.02%

Local Beer (0.5 liter bottle)

$3.53 ISK 430

$1.30 Ft 422

171.54%

Imported Beer (0.33 liter bottle)

$3.45 ISK 420

$2.08 Ft 677

65.87%

One-way Ticket (Public Transport)

$5.77 ISK 703

$1.50 Ft 490

284.67%

Public Transport Monthly Pass (Regular Price)

$95.1 ISK 11.6K

$27.61 Ft 8,991

244.59%

Taxi Start (Normal Tariff)

$6.63 ISK 808

$3.30 Ft 1,075

100.91%

Taxi (Normal Tariff) (1km)

$2.79 ISK 340

$1.30 Ft 424

114.62%

Taxi 1hour Waiting (Normal Tariff)

$81.4 ISK 9,915

$19.78 Ft 6,442

311.38%

Gasoline (1 liter)

$2.11 ISK 257

$1.81 Ft 591

16.57%

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

$50.8K ISK 6.2M

$29.3K Ft 9.6M

73.28%

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

$52.7K ISK 6.4M

$34.1K Ft 11.1M

54.62%

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

$88.7 ISK 10.8K

$170 Ft 55.3K

-47.82%

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

$31.53 ISK 3,842

$23.98 Ft 7,809

31.48%

Internet (50+ Mbps, Unlimited Data)

$84.6 ISK 10.3K

$23.42 Ft 7,628

261.40%

Gym Membership (Monthly)

$100 ISK 12.2K

$66.2 Ft 21.6K

51.54%

Tennis Court (1 Hour on Weekend)

$48.20 ISK 5,873

$19.18 Ft 6,245

151.30%

Cinema Ticket

$19.87 ISK 2,422

$9.52 Ft 3,101

108.72%

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

$1,277 ISK 155.7K

$537 Ft 174.8K

138.00%

International Primary School, 1 Child (Yearly)

$31.0K ISK 3.8M

$16.6K Ft 5.4M

86.38%

Jeans (Levis 501 Or Similar)

$161 ISK 19.6K

$101 Ft 33.0K

58.73%

Summer Dress (H&M, Zara, etc)

$64.9 ISK 7,908

$42.99 Ft 14.0K

50.97%

Sport Shoes (Adidas, Nike)

$183 ISK 22.3K

$113 Ft 36.7K

61.99%

Men's Leather Business Shoes

$254 ISK 30.9K

$119 Ft 38.7K

113.83%

1-bedroom Apartment, City Center (Monthly)

$2,499 ISK 304.6K

$805 Ft 262.2K

210.42%

1-bedroom Apartment, Outside City Center (Monthly)

$2,000 ISK 243.7K

$629 Ft 204.9K

217.87%

3-bedroom Apartment, City Center (Monthly)

$3,452 ISK 420.6K

$1,549 Ft 504.6K

122.80%

3-bedroom Apartment, Outside City Center (Monthly)

$2,742 ISK 334.2K

$1,167 Ft 380.1K

134.98%

Buy Apartment in City Center (m2)

$8,001 ISK 974.9K

$5,618 Ft 1.8M

42.41%

Buy Apartment Outside City Center (m2)

$6,249 ISK 761.5K

$3,968 Ft 1.3M

57.48%

Average Monthly Net Salary (After Tax)

$4,691 ISK 571.6K

$1,626 Ft 529.5K

188.52%

20-Year Fixed Mortgage Interest Rate (Annual %)

8.81

6.43

37.01%

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

Last update for Reykjavik: October 4, 2026

Last update for Budapest: October 5, 2026

Monthly budget structure

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

Accommodation & Living

Reykjavik

$2K 50.9%

Budapest

$629 38.7% 68.5% $1.4K

Groceries & Markets

Reykjavik

$625 15.9%

Budapest

$258 15.8% 58.8% $367

Eating Out

Reykjavik

$526 13.4%

Budapest

$224 13.8% 57.4% $302

Clothing & Footwear

Reykjavik

$298 7.6%

Budapest

$169 10.4% 43.3% $129

Monthly Utilities & Internet

Reykjavik

$205 5.2%

Budapest

$217 13.4% 6.1% $13

Sport & Entertainment

Reykjavik

$140 3.6%

Budapest

$85 5.2% 39.1% $55

Getting Around

Reykjavik

$139 3.5%

Budapest

$43 2.7% 68.7% $95

Cost Breakdown

A central one-bedroom costs $2,499 in Reykjavik versus $805 in Budapest. 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 189% 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 $60.0 in Budapest. Monthly groceries follow the same trend: $625 vs $258 – making Budapest the more affordable choice for daily food spending.

Good to know

🇮🇸 Reykjavik

🇭🇺 Budapest

🕒 Local time

03:47 3:47 AM

05:47 5:47 AM

2 h ahead of Reykjavik

🌤 Weather

👥 Population

136,894 Capital

1,686,222 Capital

💱 Currency

Icelandic Króna ISK kr

Hungarian Forint HUF Ft

📈 Exchange rate

1,000 ISK = 8.21 USD

1,000 ISK = 7.32 EUR

1,000 HUF = 3.07 USD

1,000 HUF = 2.74 EUR

Exchange rates and currency converter

HUF, 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).

Hungarian Forint exchange rates as of October 10, 2026: 1 USD = 326 HUF (1,000 HUF = 3.07 USD). 1 EUR = 365 HUF (1,000 HUF = 2.74 EUR).

USD to ISK in detail →

On the map

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Between locations

Reykjavik Budapest 3,070 km ≈ 4 h 15 min nonstop flight

From you

Reykjavik
Budapest

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 Budapest: Cost of Living - Frequently Asked Questions

Yes – Reykjavik is pricier by about 149%, and outside of rent the gap shows up most in groceries.

For a comfortable life, plan on about $6,055 per month in Reykjavik and $2,432 in Budapest. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Rent is clearly cheaper in Budapest, especially for central apartments. Housing is actually the single biggest factor behind the overall cost gap between these two cities.

Public transport costs about 245% less in Budapest. For daily commuters, that gap adds up to noticeable savings over a year.

Kindergarten costs $1,277 per month in Reykjavik and $537 in Budapest. For families with young kids, this one expense can tip the scales when choosing between the two cities.

A $2,500 monthly budget goes further in Budapest, where all-in costs run around $1,621, than in Reykjavik at $4,037. In Budapest it covers expenses comfortably, while in Reykjavik it requires careful planning or may not stretch far enough.

Families tend to lean toward Budapest – 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 Budapest. 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.