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: $3,789 in Reykjavik versus $1,583 in Drangsnes.

Estimated couple costs with rent: $5,477 in Reykjavik versus $2,763 in Drangsnes.

Monthly costs for a family of three with rent: $7,165 in Reykjavik versus $3,943 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 183% above, Drangsnes 18% above.

Meal at Budget Restaurant

$26.55 ISK 3,251

$26.38 ISK 3,230

0.64%

Three-Course Dinner for Two, Mid-Range

$144 ISK 17.6K

$143 ISK 17.6K

0.33%

Fast Food Meal (McDonalds, etc)

$22.87 ISK 2,801

$22.74 ISK 2,785

0.57%

Cappuccino

$5.98 ISK 732

$6.21 ISK 761

-3.70%

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

$3.23 ISK 396

$3.36 ISK 411

-3.87%

Water (0.33 liter bottle)

$2.55 ISK 312

$2.64 ISK 324

-3.41%

Local Beer (0.5 liter draught)

$13.06 ISK 1,599

$12.89 ISK 1,578

1.32%

Imported Beer (0.33 liter bottle)

$11.07 ISK 1,356

$11.15 ISK 1,366

-0.72%

Milk (1 liter)

$1.87 ISK 229

$1.92 ISK 236

-2.60%

White Bread (500g)

$4.33 ISK 530

$4.21 ISK 516

2.85%

Rice (white) (1kg)

$3.63 ISK 444

$3.55 ISK 435

2.25%

Eggs

$6.51 ISK 797

$6.19 ISK 758

5.17%

Local Cheese (1kg)

$18.39 ISK 2,251

$18.04 ISK 2,209

1.94%

Chicken Fillets (1kg)

$24.53 ISK 3,004

$24.15 ISK 2,957

1.57%

Beef Round Steak (1kg)

$43.02 ISK 5,268

$42.81 ISK 5,242

0.49%

Apples (1kg)

$3.26 ISK 399

$3.22 ISK 394

1.24%

Banana (1kg)

$2.42 ISK 296

$2.41 ISK 295

0.41%

Oranges (1kg)

$3.04 ISK 372

$3.11 ISK 380

-2.25%

Tomato (1kg)

$5.08 ISK 622

$5.04 ISK 617

0.79%

Potato (1kg)

$3.57 ISK 437

$3.59 ISK 440

-0.56%

Onion (1kg)

$2.40 ISK 294

$2.32 ISK 284

3.45%

Lettuce (1 head)

$3.10 ISK 379

$3.13 ISK 384

-0.96%

Water (1.5 liter bottle)

$2.00 ISK 245

$1.94 ISK 237

3.09%

Cigarettes 20 Pack (Marlboro, Camel)

$13.44 ISK 1,646

$13.63 ISK 1,669

-1.39%

Wine (Bottle)

$23.20 ISK 2,841

$22.76 ISK 2,787

1.93%

Local Beer (0.5 liter bottle)

$3.73 ISK 456

$3.58 ISK 438

4.19%

Imported Beer (0.33 liter bottle)

$3.37 ISK 412

$3.22 ISK 394

4.66%

One-way Ticket (Public Transport)

$5.34 ISK 653

Public Transport Monthly Pass (Regular Price)

$87.5 ISK 10.7K

Taxi Start (Normal Tariff)

$6.27 ISK 768

$6.42 ISK 786

-2.34%

Taxi (Normal Tariff) (1km)

$2.56 ISK 313

$2.51 ISK 308

1.99%

Taxi 1hour Waiting (Normal Tariff)

$87.5 ISK 10.7K

$85.4 ISK 10.5K

2.50%

Gasoline (1 liter)

$2.48 ISK 303

$2.48 ISK 304

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

$47.6K ISK 5.8M

$47.2K ISK 5.8M

0.95%

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

$51.8K ISK 6.3M

$52.2K ISK 6.4M

-0.81%

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

$88.4 ISK 10.8K

$88.2 ISK 10.8K

0.28%

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

$27.80 ISK 3,404

$27.68 ISK 3,390

0.43%

Internet (50+ Mbps, Unlimited Data)

$85.6 ISK 10.5K

$84.6 ISK 10.4K

1.19%

Gym Membership (Monthly)

$83.2 ISK 10.2K

Tennis Court (1 Hour on Weekend)

$37.45 ISK 4,586

Cinema Ticket

$17.88 ISK 2,190

$17.39 ISK 2,129

2.82%

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

$322 ISK 39.5K

$319 ISK 39.1K

1.08%

International Primary School, 1 Child (Yearly)

$30.5K ISK 3.7M

$30.4K ISK 3.7M

0.18%

Jeans (Levis 501 Or Similar)

$141 ISK 17.2K

$137 ISK 16.8K

2.75%

Summer Dress (H&M, Zara, etc)

$62.2 ISK 7,611

$62.4 ISK 7,642

-0.40%

Sport Shoes (Adidas, Nike)

$179 ISK 22.0K

$183 ISK 22.4K

-2.15%

Men's Leather Business Shoes

$261 ISK 31.9K

$268 ISK 32.9K

-2.84%

1-bedroom Apartment, City Center (Monthly)

$2,244 ISK 274.8K

1-bedroom Apartment, Outside City Center (Monthly)

$2,065 ISK 252.8K

3-bedroom Apartment, City Center (Monthly)

$3,173 ISK 388.5K

3-bedroom Apartment, Outside City Center (Monthly)

$2,734 ISK 334.8K

Buy Apartment in City Center (m2)

$7,787 ISK 953.4K

Buy Apartment Outside City Center (m2)

$6,505 ISK 796.5K

Average Monthly Net Salary (After Tax)

$4,496 ISK 550.5K

$6,054 ISK 741.2K

-25.73%

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: April 26, 2026

Last update for Drangsnes: April 26, 2026

Cost Breakdown

Drangsnes pays 35% more on average while also being the cheaper of the two. The combined effect is a noticeably stronger local purchasing power.

Dining out: $144 in Reykjavik vs $143 in Drangsnes for a mid-range dinner for two. Groceries echo the gap at $601 vs $593 per month, with Drangsnes 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 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 35% 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 $322 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 $144 in Reykjavik. If you eat out regularly, this makes a real dent in your monthly spending.

At $1,583 in Drangsnes versus $3,789 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 $1,583 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.