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: $4,054 in Reykjavik versus $1,742 in Drangsnes.

Estimated couple costs with rent: $5,691 in Reykjavik versus $2,973 in Drangsnes.

Monthly costs for a family of three with rent: $7,329 in Reykjavik versus $4,204 in Drangsnes.

Living in Reykjavik is roughly 133% more expensive than in Drangsnes, driven mainly by Getting Around.

Both cities are pricier than the global median: Reykjavik 196% above, Drangsnes 27% above.

Meal at Budget Restaurant

$30.01 ISK 3,655

$30.65 ISK 3,733

-2.09%

Three-Course Dinner for Two, Mid-Range

$134 ISK 16.3K

$135 ISK 16.4K

-0.73%

Fast Food Meal (McDonalds, etc)

$27.02 ISK 3,292

$26.74 ISK 3,257

1.05%

Cappuccino

$7.03 ISK 857

$6.73 ISK 820

4.46%

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

$3.36 ISK 410

$3.31 ISK 404

1.51%

Water (0.33 liter bottle)

$3.35 ISK 408

$3.29 ISK 400

1.82%

Local Beer (0.5 liter draught)

$13.80 ISK 1,681

$13.97 ISK 1,702

-1.22%

Imported Beer (0.33 liter bottle)

$12.17 ISK 1,482

$12.22 ISK 1,489

-0.41%

Milk (1 liter)

$2.03 ISK 248

$2.14 ISK 260

-5.14%

White Bread (500g)

$4.29 ISK 522

$4.30 ISK 524

-0.23%

Rice (white) (1kg)

$3.51 ISK 428

$3.65 ISK 445

-3.84%

Eggs

$7.13 ISK 869

Local Cheese (1kg)

$21.15 ISK 2,576

$20.86 ISK 2,540

1.39%

Chicken Fillets (1kg)

$25.14 ISK 3,062

$24.71 ISK 3,010

1.74%

Beef Round Steak (1kg)

$42.98 ISK 5,234

$41.41 ISK 5,044

3.79%

Apples (1kg)

$3.38 ISK 412

$3.43 ISK 418

-1.46%

Banana (1kg)

$2.85 ISK 347

$2.91 ISK 355

-2.06%

Oranges (1kg)

$3.33 ISK 406

$3.34 ISK 406

-0.30%

Tomato (1kg)

$6.30 ISK 767

$6.32 ISK 770

-0.32%

Potato (1kg)

$4.08 ISK 497

$3.94 ISK 480

3.55%

Onion (1kg)

$1.66 ISK 202

$1.66 ISK 203

Lettuce (1 head)

$3.66 ISK 446

$3.77 ISK 460

-2.92%

Water (1.5 liter bottle)

$1.76 ISK 215

$1.82 ISK 222

-3.30%

Cigarettes 20 Pack (Marlboro, Camel)

$13.96 ISK 1,700

$13.76 ISK 1,676

1.45%

Wine (Bottle)

$23.46 ISK 2,858

$24.08 ISK 2,933

-2.57%

Local Beer (0.5 liter bottle)

$3.73 ISK 455

$3.84 ISK 468

-2.86%

Imported Beer (0.33 liter bottle)

$3.49 ISK 425

$3.45 ISK 420

1.16%

One-way Ticket (Public Transport)

$5.55 ISK 676

Public Transport Monthly Pass (Regular Price)

$94.3 ISK 11.5K

Taxi Start (Normal Tariff)

$6.56 ISK 799

$6.94 ISK 845

-5.48%

Taxi (Normal Tariff) (1km)

$2.89 ISK 351

$2.84 ISK 346

1.76%

Taxi 1hour Waiting (Normal Tariff)

$73.8 ISK 8,985

$74.2 ISK 9,035

-0.55%

Gasoline (1 liter)

$2.00 ISK 243

$1.92 ISK 234

4.17%

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

$50.6K ISK 6.2M

$51.5K ISK 6.3M

-1.86%

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

$54.2K ISK 6.6M

$54.0K ISK 6.6M

0.28%

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

$88.8 ISK 10.8K

$89.3 ISK 10.9K

-0.56%

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

$32.93 ISK 4,011

$33.62 ISK 4,095

-2.05%

Internet (50+ Mbps, Unlimited Data)

$83.1 ISK 10.1K

$85.9 ISK 10.5K

-3.23%

Gym Membership (Monthly)

$96.3 ISK 11.7K

Tennis Court (1 Hour on Weekend)

$49.54 ISK 6,034

Cinema Ticket

$19.82 ISK 2,414

$20.09 ISK 2,447

-1.34%

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

$1,213 ISK 147.7K

$1,173 ISK 142.9K

3.39%

International Primary School, 1 Child (Yearly)

$31.2K ISK 3.8M

$31.0K ISK 3.8M

0.56%

Jeans (Levis 501 Or Similar)

$156 ISK 19.0K

$157 ISK 19.1K

-0.55%

Summer Dress (H&M, Zara, etc)

$66.3 ISK 8,076

$67.2 ISK 8,184

-1.31%

Sport Shoes (Adidas, Nike)

$178 ISK 21.7K

$182 ISK 22.1K

-1.84%

Men's Leather Business Shoes

$247 ISK 30.1K

$252 ISK 30.7K

-2.04%

1-bedroom Apartment, City Center (Monthly)

$2,466 ISK 300.3K

1-bedroom Apartment, Outside City Center (Monthly)

$2,078 ISK 253.1K

3-bedroom Apartment, City Center (Monthly)

$3,438 ISK 418.8K

3-bedroom Apartment, Outside City Center (Monthly)

$2,764 ISK 336.6K

Buy Apartment in City Center (m2)

$8,085 ISK 984.8K

Buy Apartment Outside City Center (m2)

$6,258 ISK 762.2K

Average Monthly Net Salary (After Tax)

$4,745 ISK 577.9K

$6,076 ISK 740.1K

-21.92%

20-Year Fixed Mortgage Interest Rate (Annual %)

8.88

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

Last update for Reykjavik: September 13, 2026

Last update for Drangsnes: September 13, 2026

Cost Breakdown

Drangsnes pays 28% more on average while also being the cheaper of the two. The combined effect is a noticeably stronger local purchasing power.

Dining out: $134 in Reykjavik vs $135 in Drangsnes. Groceries flip the comparison at $627 vs $624, 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 133% 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 28% 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 $1,213 in Reykjavik versus $1,173 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 $135 versus $134 in Reykjavik. If you eat out regularly, this makes a real dent in your monthly spending.

At $1,742 in Drangsnes versus $4,054 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 $1,742 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 133% less than in Reykjavik. Beyond cost, consider language, visa policies, and how big the international community is in each city.