Cost of Living Comparison Between Reykjavik and Drangsnes Cost of Living Comparison Between Reykjavik and Drangsnes

Monthly Cost of Living

Monthly costs for one person with rent: $3,849 in Reykjavik versus $1,602 in Drangsnes.

Estimated couple costs with rent: $5,457 in Reykjavik versus $2,826 in Drangsnes.

Monthly costs for a family of three with rent: $7,065 in Reykjavik versus $4,050 in Drangsnes.

Living in Reykjavik is roughly 140% more expensive than in Drangsnes, driven mainly by Getting Around.

Both cities are pricier than the global median: Reykjavik 189% above, Drangsnes 20% above.

Meal at Budget Restaurant

$26.85 ISK 3,319

$27.09 ISK 3,349

-0.89%

Three-Course Dinner for Two, Mid-Range

$142 ISK 17.6K

$146 ISK 18.0K

-2.51%

Fast Food Meal (McDonalds, etc)

$22.18 ISK 2,741

$22.43 ISK 2,772

-1.11%

Cappuccino

$6.17 ISK 763

$6.21 ISK 767

-0.64%

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

$3.24 ISK 401

$3.37 ISK 416

-3.86%

Water (0.33 liter bottle)

$2.62 ISK 324

$2.56 ISK 316

2.34%

Local Beer (0.5 liter draught)

$12.69 ISK 1,569

$12.80 ISK 1,582

-0.86%

Imported Beer (0.33 liter bottle)

$11.39 ISK 1,408

$11.29 ISK 1,396

0.89%

Milk (1 liter)

$1.87 ISK 231

$1.96 ISK 243

-4.59%

White Bread (500g)

$4.30 ISK 531

$4.35 ISK 537

-1.15%

Rice (white) (1kg)

$3.56 ISK 440

$3.67 ISK 453

-3.00%

Eggs

$6.28 ISK 777

$6.48 ISK 801

-3.09%

Local Cheese (1kg)

$18.25 ISK 2,255

$18.10 ISK 2,237

0.83%

Chicken Fillets (1kg)

$23.69 ISK 2,929

$24.54 ISK 3,033

-3.46%

Beef Round Steak (1kg)

$42.14 ISK 5,209

$41.85 ISK 5,172

0.69%

Apples (1kg)

$3.33 ISK 412

$3.21 ISK 397

3.74%

Banana (1kg)

$2.41 ISK 298

$2.46 ISK 304

-2.03%

Oranges (1kg)

$3.00 ISK 370

$3.11 ISK 384

-3.54%

Tomato (1kg)

$5.12 ISK 633

$5.14 ISK 636

-0.39%

Potato (1kg)

$3.58 ISK 442

$3.72 ISK 459

-3.76%

Onion (1kg)

$2.36 ISK 292

$2.32 ISK 286

1.72%

Lettuce (1 head)

$3.14 ISK 388

$3.04 ISK 376

3.29%

Water (1.5 liter bottle)

$2.03 ISK 251

$2.01 ISK 249

1.00%

Cigarettes 20 Pack (Marlboro, Camel)

$13.89 ISK 1,717

$13.39 ISK 1,655

3.73%

Wine (Bottle)

$23.38 ISK 2,890

$23.52 ISK 2,907

-0.60%

Local Beer (0.5 liter bottle)

$3.58 ISK 442

$3.57 ISK 441

0.28%

Imported Beer (0.33 liter bottle)

$3.21 ISK 397

$3.26 ISK 403

-1.53%

One-way Ticket (Public Transport)

$5.09 ISK 629

Public Transport Monthly Pass (Regular Price)

$86.7 ISK 10.7K

Taxi Start (Normal Tariff)

$6.37 ISK 787

$6.33 ISK 782

0.63%

Taxi (Normal Tariff) (1km)

$2.56 ISK 316

$2.65 ISK 327

-3.40%

Taxi 1hour Waiting (Normal Tariff)

$86.9 ISK 10.7K

$85.5 ISK 10.6K

1.64%

Gasoline (1 liter)

$2.45 ISK 303

$2.53 ISK 313

-3.16%

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

$48.1K ISK 5.9M

$46.9K ISK 5.8M

2.73%

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

$52.6K ISK 6.5M

$52.7K ISK 6.5M

-0.34%

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

$87.4 ISK 10.8K

$86.7 ISK 10.7K

0.76%

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

$27.40 ISK 3,386

$27.67 ISK 3,420

-0.98%

Internet (50+ Mbps, Unlimited Data)

$86.5 ISK 10.7K

$85.9 ISK 10.6K

0.75%

Gym Membership (Monthly)

$83.6 ISK 10.3K

Tennis Court (1 Hour on Weekend)

$37.79 ISK 4,671

Cinema Ticket

$17.41 ISK 2,152

$17.91 ISK 2,213

-2.79%

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

$322 ISK 39.8K

$315 ISK 38.9K

2.21%

International Primary School, 1 Child (Yearly)

$30.1K ISK 3.7M

$29.5K ISK 3.6M

1.94%

Jeans (Levis 501 Or Similar)

$137 ISK 16.9K

$139 ISK 17.2K

-2.07%

Summer Dress (H&M, Zara, etc)

$61.0 ISK 7,536

$60.9 ISK 7,523

0.18%

Sport Shoes (Adidas, Nike)

$181 ISK 22.4K

$184 ISK 22.8K

-1.56%

Men's Leather Business Shoes

$271 ISK 33.5K

$266 ISK 32.9K

1.72%

1-bedroom Apartment, City Center (Monthly)

$2,228 ISK 275.4K

1-bedroom Apartment, Outside City Center (Monthly)

$2,035 ISK 251.5K

3-bedroom Apartment, City Center (Monthly)

$3,171 ISK 392.0K

3-bedroom Apartment, Outside City Center (Monthly)

$2,699 ISK 333.6K

Buy Apartment in City Center (m2)

$7,931 ISK 980.2K

Buy Apartment Outside City Center (m2)

$6,333 ISK 782.8K

Average Monthly Net Salary (After Tax)

$4,563 ISK 564.0K

$5,921 ISK 731.8K

-22.93%

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: July 28, 2026

Last update for Drangsnes: July 26, 2026

Cost Breakdown

Drangsnes pays 30% more on average while also being the cheaper of the two. The combined effect is a noticeably stronger local purchasing power.

Dining out: $142 in Reykjavik vs $146 in Drangsnes for a mid-range dinner for two. Groceries echo the gap at $593 vs $599 per month, with Reykjavik cheaper across the board.

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 Drangsnes: Cost of Living - Frequently Asked Questions

Drangsnes wins on cost – living expenses run 140% lower than in Reykjavik. Housing and daily spending are where you'll feel the difference most, making Drangsnes the obvious pick if budget is a priority.

On paper, salaries run 30% lower in Drangsnes. That's worth factoring in alongside costs, though remote workers earning in a stronger currency may not notice the difference at all.

Childcare runs $322 in Reykjavik versus $315 in Drangsnes. Over years of preschool, even a modest monthly gap compounds into a major financial factor for families.

Dining out is cheaper in Drangsnes – a meal for two runs $146 versus $142 in Reykjavik. If you eat out regularly, this makes a real dent in your monthly spending.

At $1,602 in Drangsnes versus $3,849 in Reykjavik, a $2,000 budget is realistic in Drangsnes but tight or insufficient in Reykjavik. The gap between the two cities makes Drangsnes the clear choice for anyone on this budget.

Both work as nomad bases, but Drangsnes delivers better value – similar infrastructure at $1,602 monthly. If stretching your runway or maximizing savings is the goal, the price difference makes Drangsnes hard to pass up.

Safety-wise, Reykjavik and Drangsnes 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 Drangsnes gentler on the wallet – expenses run 140% less than in Reykjavik. Beyond cost, consider language, visa policies, and how big the international community is in each city.