Cost of Living Comparison Between Reykjavik and Egilsstadir Cost of Living Comparison Between Reykjavik and Egilsstadir

Monthly Cost of Living

Monthly costs for one person with rent: $3,869 in Reykjavik versus $606 in Egilsstadir.

Estimated couple costs with rent: $5,475 in Reykjavik versus $1,017 in Egilsstadir.

Monthly costs for a family of three with rent: $7,081 in Reykjavik versus $1,428 in Egilsstadir.

Living in Reykjavik is roughly 539% more expensive than in Egilsstadir, driven mainly by Eating Out.

The two cities straddle the global median: Reykjavik is 190% above, Egilsstadir is 55% below.

Meal at Budget Restaurant

$27.43 ISK 3,418

Three-Course Dinner for Two, Mid-Range

$142 ISK 17.7K

Fast Food Meal (McDonalds, etc)

$22.54 ISK 2,809

Cappuccino

$6.05 ISK 754

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

$3.22 ISK 402

Water (0.33 liter bottle)

$2.52 ISK 314

Local Beer (0.5 liter draught)

$12.93 ISK 1,611

Imported Beer (0.33 liter bottle)

$11.39 ISK 1,420

Milk (1 liter)

$1.89 ISK 235

$1.65 ISK 205

14.55%

White Bread (500g)

$4.19 ISK 522

$2.82 ISK 351

48.58%

Rice (white) (1kg)

$3.54 ISK 441

$2.33 ISK 290

51.93%

Eggs

$6.31 ISK 786

$5.57 ISK 694

13.29%

Local Cheese (1kg)

$18.00 ISK 2,243

$21.66 ISK 2,699

-16.90%

Chicken Fillets (1kg)

$24.46 ISK 3,048

$32.24 ISK 4,017

-24.13%

Beef Round Steak (1kg)

$41.94 ISK 5,226

$42.36 ISK 5,279

-0.99%

Apples (1kg)

$3.33 ISK 415

$2.67 ISK 332

24.72%

Banana (1kg)

$2.40 ISK 300

$2.43 ISK 303

-1.23%

Oranges (1kg)

$3.03 ISK 377

$2.47 ISK 308

22.67%

Tomato (1kg)

$5.13 ISK 639

$3.64 ISK 454

40.93%

Potato (1kg)

$3.66 ISK 455

$4.41 ISK 549

-17.01%

Onion (1kg)

$2.42 ISK 302

$2.11 ISK 264

14.69%

Lettuce (1 head)

$3.17 ISK 394

$2.09 ISK 261

51.67%

Water (1.5 liter bottle)

$1.93 ISK 241

$2.23 ISK 277

-13.45%

Cigarettes 20 Pack (Marlboro, Camel)

$13.76 ISK 1,714

Wine (Bottle)

$22.67 ISK 2,825

$21.44 ISK 2,672

5.74%

Local Beer (0.5 liter bottle)

$3.75 ISK 467

$3.86 ISK 482

-2.85%

Imported Beer (0.33 liter bottle)

$3.26 ISK 406

$3.39 ISK 422

-3.83%

One-way Ticket (Public Transport)

$5.30 ISK 661

Public Transport Monthly Pass (Regular Price)

$88.2 ISK 11.0K

Taxi Start (Normal Tariff)

$6.51 ISK 811

Taxi (Normal Tariff) (1km)

$2.57 ISK 321

Taxi 1hour Waiting (Normal Tariff)

$86.4 ISK 10.8K

Gasoline (1 liter)

$2.52 ISK 314

$2.54 ISK 316

-0.79%

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

$47.7K ISK 5.9M

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

$51.8K ISK 6.5M

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

$87.1 ISK 10.9K

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

$27.13 ISK 3,380

Internet (50+ Mbps, Unlimited Data)

$85.4 ISK 10.6K

Gym Membership (Monthly)

$84.0 ISK 10.5K

Tennis Court (1 Hour on Weekend)

$38.12 ISK 4,750

Cinema Ticket

$17.35 ISK 2,162

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

$319 ISK 39.8K

International Primary School, 1 Child (Yearly)

$30.7K ISK 3.8M

Jeans (Levis 501 Or Similar)

$138 ISK 17.1K

Summer Dress (H&M, Zara, etc)

$62.8 ISK 7,821

Sport Shoes (Adidas, Nike)

$182 ISK 22.7K

Men's Leather Business Shoes

$269 ISK 33.5K

1-bedroom Apartment, City Center (Monthly)

$2,254 ISK 280.8K

1-bedroom Apartment, Outside City Center (Monthly)

$2,008 ISK 250.2K

3-bedroom Apartment, City Center (Monthly)

$3,231 ISK 402.6K

3-bedroom Apartment, Outside City Center (Monthly)

$2,756 ISK 343.4K

Buy Apartment in City Center (m2)

$7,955 ISK 991.2K

Buy Apartment Outside City Center (m2)

$6,156 ISK 767.1K

Average Monthly Net Salary (After Tax)

$4,438 ISK 553.0K

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 11, 2026

Last update for Egilsstadir: July 14, 2026

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 Egilsstadir: Cost of Living - Frequently Asked Questions

Egilsstadir is cheaper overall, especially in Eating Out, Clothing & Footwear, Getting Around, Sport & Entertainment, Monthly Utilities & Internet. The 539% gap adds up to real monthly savings that compound significantly over time.

You'd need roughly $5,803 in Reykjavik and $909 in Egilsstadir to live well. The gap comes down to housing and overall price levels. Both cities are liveable on less, but these numbers represent actual comfort.

Shoppers in Reykjavik pay roughly 2% less for everyday groceries. It's an unusual reversal that partly offsets higher costs elsewhere.

All in, you'll spend $3,869 per month in Reykjavik versus $606 in Egilsstadir – a 539% gap that adds up to real savings over time for anyone picking the cheaper option.

At $606 in Egilsstadir versus $3,869 in Reykjavik, a $1,500 budget is realistic in Egilsstadir but tight or insufficient in Reykjavik. The gap between the two cities makes Egilsstadir the clear choice for anyone on this budget.

For families, Egilsstadir 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 Egilsstadir 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 Egilsstadir gentler on the wallet – expenses run 539% less than in Reykjavik. Beyond cost, consider language, visa policies, and how big the international community is in each city.