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: $3,785 in Reykjavik versus $1,587 in Drangsnes.

Estimated couple costs with rent: $5,438 in Reykjavik versus $2,836 in Drangsnes.

Monthly costs for a family of three with rent: $7,090 in Reykjavik versus $4,085 in Drangsnes.

Living in Reykjavik is roughly 139% more expensive than Drangsnes, driven mainly by Getting Around.

Both cities are pricier than the global median: Reykjavik 184% above, Drangsnes 19% above.

Meal at Budget Restaurant

$26.53 ISK 3,296

$27.14 ISK 3,372

-2.25%

Three-Course Dinner for Two, Mid-Range

$143 ISK 17.8K

-0.07%

Fast Food Meal (McDonalds, etc)

$22.53 ISK 2,799

$22.90 ISK 2,845

-1.62%

Cappuccino

$5.99 ISK 745

$6.08 ISK 756

-1.48%

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

$3.30 ISK 410

$3.36 ISK 417

-1.79%

Water (0.33 liter bottle)

$2.55 ISK 317

$2.63 ISK 327

-3.04%

Local Beer (0.5 liter draught)

$12.65 ISK 1,572

$12.62 ISK 1,568

0.24%

Imported Beer (0.33 liter bottle)

$11.23 ISK 1,396

$11.32 ISK 1,406

-0.80%

Milk (1 liter)

$1.86 ISK 231

White Bread (500g)

$4.18 ISK 519

$4.21 ISK 523

-0.71%

Rice (white) (1kg)

$3.58 ISK 445

$3.56 ISK 443

0.56%

Eggs

$6.35 ISK 789

$6.43 ISK 798

-1.24%

Local Cheese (1kg)

$18.37 ISK 2,283

$18.19 ISK 2,260

0.99%

Chicken Fillets (1kg)

$23.60 ISK 2,932

$24.03 ISK 2,985

-1.79%

Beef Round Steak (1kg)

$43.14 ISK 5,360

$41.86 ISK 5,201

3.06%

Apples (1kg)

$3.31 ISK 411

Banana (1kg)

$2.50 ISK 310

$2.54 ISK 316

-1.57%

Oranges (1kg)

$3.02 ISK 375

$3.04 ISK 377

-0.66%

Tomato (1kg)

$4.97 ISK 618

$4.92 ISK 611

1.02%

Potato (1kg)

$3.57 ISK 444

$3.72 ISK 462

-4.03%

Onion (1kg)

$2.34 ISK 291

$2.43 ISK 302

-3.70%

Lettuce (1 head)

$3.09 ISK 384

$3.03 ISK 377

1.98%

Water (1.5 liter bottle)

$2.00 ISK 249

$1.99 ISK 247

0.50%

Cigarettes 20 Pack (Marlboro, Camel)

$13.80 ISK 1,714

$13.57 ISK 1,686

1.69%

Wine (Bottle)

$23.16 ISK 2,878

$23.68 ISK 2,942

-2.20%

Local Beer (0.5 liter bottle)

$3.70 ISK 459

$3.62 ISK 450

2.21%

Imported Beer (0.33 liter bottle)

$3.34 ISK 415

$3.27 ISK 406

2.14%

One-way Ticket (Public Transport)

$5.18 ISK 643

Public Transport Monthly Pass (Regular Price)

$86.4 ISK 10.7K

Taxi Start (Normal Tariff)

$6.50 ISK 808

$6.51 ISK 809

-0.15%

Taxi (Normal Tariff) (1km)

$2.66 ISK 330

$2.56 ISK 318

3.91%

Taxi 1hour Waiting (Normal Tariff)

$84.9 ISK 10.5K

$87.6 ISK 10.9K

-3.12%

Gasoline (1 liter)

$2.53 ISK 315

$2.45 ISK 304

3.27%

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

$46.5K ISK 5.8M

$47.4K ISK 5.9M

-1.96%

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

$53.3K ISK 6.6M

$51.8K ISK 6.4M

2.80%

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

$87.5 ISK 10.9K

$88.6 ISK 11.0K

-1.15%

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

$27.40 ISK 3,404

$27.90 ISK 3,466

-1.79%

Internet (50+ Mbps, Unlimited Data)

$84.4 ISK 10.5K

$84.0 ISK 10.4K

0.45%

Gym Membership (Monthly)

$82.6 ISK 10.3K

Tennis Court (1 Hour on Weekend)

$37.23 ISK 4,626

Cinema Ticket

$17.91 ISK 2,225

$17.62 ISK 2,189

1.65%

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

$315 ISK 39.1K

$319 ISK 39.6K

-1.16%

International Primary School, 1 Child (Yearly)

$30.5K ISK 3.8M

$30.0K ISK 3.7M

1.83%

Jeans (Levis 501 Or Similar)

$139 ISK 17.3K

$137 ISK 17.1K

1.10%

Summer Dress (H&M, Zara, etc)

$62.4 ISK 7,747

$61.9 ISK 7,690

0.74%

Sport Shoes (Adidas, Nike)

$184 ISK 22.9K

$182 ISK 22.6K

1.31%

Men's Leather Business Shoes

$269 ISK 33.4K

$268 ISK 33.3K

0.24%

1-bedroom Apartment, City Center (Monthly)

$2,233 ISK 277.5K

1-bedroom Apartment, Outside City Center (Monthly)

$2,004 ISK 249.0K

3-bedroom Apartment, City Center (Monthly)

$3,240 ISK 402.5K

3-bedroom Apartment, Outside City Center (Monthly)

$2,791 ISK 346.8K

Buy Apartment in City Center (m2)

$7,709 ISK 957.8K

Buy Apartment Outside City Center (m2)

$6,232 ISK 774.3K

Average Monthly Net Salary (After Tax)

$4,544 ISK 564.6K

$6,084 ISK 755.9K

-25.31%

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 15, 2026

Last update for Drangsnes: June 15, 2026

Cost Breakdown

Drangsnes pays 34% more on average while also being the cheaper of the two. The combined effect is a noticeably stronger local purchasing power.

Dining out: $143 in Reykjavik vs $143 in Drangsnes. Groceries flip the comparison at $594 vs $593, with Drangsnes cheaper for home cooking.

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 139% 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, Drangsnes earns 34% less. That's worth factoring in alongside costs, though remote workers earning in a stronger currency may not notice the difference at all.

Childcare runs $315 in Reykjavik versus $319 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 $143 versus $143 in Reykjavik. If you eat out regularly, this makes a real dent in your monthly spending.

At $1,587 in Drangsnes versus $3,785 in Reykjavik, a $1,000 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 $1,587 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 139% less than in Reykjavik. Beyond cost, consider language, visa policies, and how big the international community is in each city.