Last update: Oct 2026

Cost of Living Comparison Between Reykjavik and Cebu

For one person, living is cheaper in Cebu: $934 a month against $4,037 in Reykjavik, rent and utilities included – about $37,200 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
44

Cost of Living Index in Cebu
Learn more

Cebu Living Index

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Reykjavik

🇮🇸 Iceland

$4,037

/mo nomad

Cebu

🇵🇭 Philippines

$934

/mo nomad

Monthly Cost of Living

How much you'll spend in Reykjavik and in Cebu

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

Monthly costs for one person with rent: $4,037 in Reykjavik versus $934 in Cebu.

Reykjavik $4,037
Cebu $934

Estimated couple costs with rent: $5,666 in Reykjavik versus $1,415 in Cebu.

Reykjavik $5,666
Cebu $1,415

Monthly costs for a family of three with rent: $7,295 in Reykjavik versus $1,896 in Cebu.

Reykjavik $7,295
Cebu $1,896

Living in Reykjavik is roughly 332% more expensive than in Cebu, and outside of rent the biggest gap is in eating out.

The two cities straddle the global median: Reykjavik is 201% above, Cebu is 30% below.

Meal at Budget Restaurant

$30.59 ISK 3,727

$3.03 ₱191

909.57%

Three-Course Dinner for Two, Mid-Range

$136 ISK 16.5K

$23.48 ₱1,476

477.13%

Fast Food Meal (McDonalds, etc)

$27.08 ISK 3,300

$4.09 ₱257

562.10%

Cappuccino

$6.72 ISK 818

$2.52 ₱158

166.67%

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

$3.27 ISK 399

$1.54 ₱97.2

112.34%

Water (0.33 liter bottle)

$3.16 ISK 386

$0.49 ₱31.06

544.90%

Local Beer (0.5 liter draught)

$13.91 ISK 1,695

$1.79 ₱113

677.09%

Imported Beer (0.33 liter bottle)

$12.06 ISK 1,469

$2.26 ₱142

433.63%

Milk (1 liter)

$2.04 ISK 248

$1.95 ₱122

4.62%

White Bread (500g)

$4.32 ISK 526

$1.43 ₱89.9

202.10%

Rice (white) (1kg)

$3.67 ISK 447

$1.02 ₱64.0

259.80%

Eggs

$7.02 ISK 855

$2.06 ₱129

240.78%

Local Cheese (1kg)

$22.01 ISK 2,682

$9.81 ₱617

124.36%

Chicken Fillets (1kg)

$24.70 ISK 3,009

$4.61 ₱290

435.79%

Beef Round Steak (1kg)

$42.66 ISK 5,198

$7.70 ₱484

454.03%

Apples (1kg)

$3.37 ISK 411

$3.31 ₱208

1.81%

Banana (1kg)

$2.85 ISK 347

$1.45 ₱91.2

96.55%

Oranges (1kg)

$3.17 ISK 387

$2.36 ₱148

34.32%

Tomato (1kg)

$6.39 ISK 779

$1.54 ₱96.6

314.94%

Potato (1kg)

$4.01 ISK 489

$2.36 ₱148

69.92%

Onion (1kg)

$1.64 ISK 200

$1.99 ₱125

-17.59%

Lettuce (1 head)

$3.80 ISK 462

$1.15 ₱72.3

230.43%

Water (1.5 liter bottle)

$1.74 ISK 212

$0.67 ₱42.26

159.70%

Cigarettes 20 Pack (Marlboro, Camel)

$13.80 ISK 1,681

$3.00 ₱189

360.00%

Wine (Bottle)

$23.38 ISK 2,849

$6.35 ₱399

268.19%

Local Beer (0.5 liter bottle)

$3.53 ISK 430

$1.31 ₱82.1

169.47%

Imported Beer (0.33 liter bottle)

$3.45 ISK 420

$1.73 ₱109

99.42%

One-way Ticket (Public Transport)

$5.77 ISK 703

$0.25 ₱15.82

2208.00%

Public Transport Monthly Pass (Regular Price)

$95.1 ISK 11.6K

$12.65 ₱796

652.09%

Taxi Start (Normal Tariff)

$6.63 ISK 808

$0.74 ₱46.44

795.95%

Taxi (Normal Tariff) (1km)

$2.79 ISK 340

$0.21 ₱13.15

1228.57%

Taxi 1hour Waiting (Normal Tariff)

$81.4 ISK 9,915

$4.33 ₱272

1779.21%

Gasoline (1 liter)

$2.11 ISK 257

$1.33 ₱83.7

58.65%

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

$50.8K ISK 6.2M

$21.8K ₱1.4M

133.48%

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

$52.7K ISK 6.4M

$19.4K ₱1.2M

171.88%

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

$88.7 ISK 10.8K

$121 ₱7,583

-26.46%

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

$31.53 ISK 3,842

$14.45 ₱909

118.20%

Internet (50+ Mbps, Unlimited Data)

$84.6 ISK 10.3K

$28.29 ₱1,779

199.19%

Gym Membership (Monthly)

$100 ISK 12.2K

$32.68 ₱2,055

207.16%

Tennis Court (1 Hour on Weekend)

$48.20 ISK 5,873

$6.39 ₱402

654.30%

Cinema Ticket

$19.87 ISK 2,422

$5.46 ₱343

263.92%

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

$1,277 ISK 155.7K

$273 ₱17.2K

367.21%

International Primary School, 1 Child (Yearly)

$31.0K ISK 3.8M

$8,156 ₱512.9K

279.48%

Jeans (Levis 501 Or Similar)

$161 ISK 19.6K

$49.57 ₱3,117

224.51%

Summer Dress (H&M, Zara, etc)

$64.9 ISK 7,908

$24.87 ₱1,564

160.96%

Sport Shoes (Adidas, Nike)

$183 ISK 22.3K

$76.6 ₱4,817

138.46%

Men's Leather Business Shoes

$254 ISK 30.9K

$59.3 ₱3,727

328.42%

1-bedroom Apartment, City Center (Monthly)

$2,499 ISK 304.6K

$506 ₱31.8K

394.24%

1-bedroom Apartment, Outside City Center (Monthly)

$2,000 ISK 243.7K

$309 ₱19.5K

546.43%

3-bedroom Apartment, City Center (Monthly)

$3,452 ISK 420.6K

$1,052 ₱66.1K

228.21%

3-bedroom Apartment, Outside City Center (Monthly)

$2,742 ISK 334.2K

$619 ₱38.9K

343.04%

Buy Apartment in City Center (m2)

$8,001 ISK 974.9K

$2,915 ₱183.4K

174.42%

Buy Apartment Outside City Center (m2)

$6,249 ISK 761.5K

$1,867 ₱117.4K

234.69%

Average Monthly Net Salary (After Tax)

$4,691 ISK 571.6K

$341 ₱21.5K

1275.24%

20-Year Fixed Mortgage Interest Rate (Annual %)

8.81

7.2

22.36%

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

Last update for Reykjavik: October 4, 2026

Last update for Cebu: October 5, 2026

Monthly budget structure

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

Accommodation & Living

Reykjavik

$2K 50.9%

Cebu

$309 33.5% 84.5% $1.7K

Groceries & Markets

Reykjavik

$625 15.9%

Cebu

$210 22.7% 66.3% $415

Eating Out

Reykjavik

$526 13.4%

Cebu

$88 9.6% 83.2% $438

Clothing & Footwear

Reykjavik

$298 7.6%

Cebu

$95 10.2% 68.2% $203

Monthly Utilities & Internet

Reykjavik

$205 5.2%

Cebu

$163 17.7% 20.3% $42

Sport & Entertainment

Reykjavik

$140 3.6%

Cebu

$44 4.7% 68.9% $97

Getting Around

Reykjavik

$139 3.5%

Cebu

$15 1.7% 88.9% $123

Cost Breakdown

A one-bedroom apartment in the center runs $2,499 in Reykjavik and $506 in Cebu. Housing cost is often the main lever when comparing two cities.

Reykjavik pays 1275% more on average. The extra income cushions the higher costs, though housing choices and lifestyle decide how much of the gap is truly closed.

Dining out: $136 in Reykjavik vs $23.00 in Cebu for a mid-range dinner for two. Groceries echo the gap at $625 vs $210 per month, with Cebu cheaper across the board.

Good to know

🇮🇸 Reykjavik

🇵🇭 Cebu

🕒 Local time

07:19 7:19 AM

15:19 3:19 PM

8 h ahead of Reykjavik

🌤 Weather

👥 Population

136,894 Capital

964,169

💱 Currency

Icelandic Króna ISK kr

Philippine Peso PHP ₱

📈 Exchange rate

1,000 ISK = 8.21 USD

1,000 ISK = 7.32 EUR

100 PHP = 1.59 USD

100 PHP = 1.42 EUR

Exchange rates and currency converter

PHP, 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).

Philippine Peso exchange rates as of October 10, 2026: 1 USD = 62.89 PHP (100 PHP = 1.59 USD). 1 EUR = 70.54 PHP (100 PHP = 1.42 EUR).

USD to ISK in detail →

On the map

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Highest

Between locations

Reykjavik Cebu 11,250 km ≈ 15 h nonstop flight

From you

Reykjavik
Cebu

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 Cebu: Cost of Living - Frequently Asked Questions

Cebu is cheaper overall, especially in groceries, eating out, and clothing. The 332% gap adds up to real monthly savings that compound significantly over time.

Average pay runs 1275% higher in Reykjavik, which matters when comparing affordability. Whether that higher income actually nets you more depends on your spending habits and housing choices.

Rent for a central apartment: $2,499 in Reykjavik versus $506 in Cebu. Housing is usually the single largest factor when comparing overall living costs between the two.

All in, you'll spend $4,037 per month in Reykjavik versus $934 in Cebu – a 332% gap that adds up to real savings over time for anyone picking the cheaper option.

A monthly transit pass in Cebu runs roughly 652% less than in Reykjavik. Both cities have functional networks, but the price difference matters if you're watching your budget.

At $934 in Cebu versus $4,037 in Reykjavik, a $1,500 budget is realistic in Cebu but tight or insufficient in Reykjavik. The gap between the two cities makes Cebu the clear choice for anyone on this budget.

For families, Cebu is more practical. Housing and childcare are both notably cheaper than in Reykjavik, and the savings on those two alone free up budget for education, activities, and family trips.

Safety-wise, Reykjavik and Cebu are on par. Petty crime is typical for cities this size, and most residents feel comfortable going about their daily routines in either place.

Expats usually find Cebu gentler on the wallet – expenses run 332% less than in Reykjavik. Beyond cost, consider language, visa policies, and how big the international community is in each city.