Last update: Oct 2026

Cost of Living Comparison Between Reykjavik and Egilsstadir

For one person, living is cheaper in Egilsstadir: $620 a month against $4,002 in Reykjavik, rent and utilities included – about $40,600 less a year. Rent and utilities account for most of the difference.

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Cost of Living Index in Reykjavik
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Reykjavik Living Index

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Reykjavik

🇮🇸 Iceland

$4,002

/mo nomad

Egilsstadir

🇮🇸 Iceland

$620

/mo nomad

Monthly Cost of Living

How much you'll spend in Reykjavik and in Egilsstadir

Real prices from locals and on-the-ground checks – rent, groceries, transit and the daily extras. Here's what a month in Reykjavik and in Egilsstadir actually costs, broken down by who's living it.

Monthly costs for one person with rent: $4,002 in Reykjavik versus $620 in Egilsstadir.

Reykjavik $4,002
Egilsstadir $620

Estimated couple costs with rent: $5,705 in Reykjavik versus $1,032 in Egilsstadir.

Reykjavik $5,705
Egilsstadir $1,032

Monthly costs for a family of three with rent: $7,407 in Reykjavik versus $1,444 in Egilsstadir.

Reykjavik $7,407
Egilsstadir $1,444

Living in Reykjavik is roughly 546% more expensive than in Egilsstadir, and outside of rent the biggest gap is in eating out.

The two cities straddle the global median: Reykjavik is 196% above, Egilsstadir is 54% below.

Meal at Budget Restaurant

$31.56 ISK 3,828

Three-Course Dinner for Two, Mid-Range

$122 ISK 14.8K

Fast Food Meal (McDonalds, etc)

$26.86 ISK 3,258

Cappuccino

$6.81 ISK 827

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

$3.39 ISK 411

Water (0.33 liter bottle)

$3.20 ISK 388

Local Beer (0.5 liter draught)

$14.14 ISK 1,715

Imported Beer (0.33 liter bottle)

$12.31 ISK 1,493

Milk (1 liter)

$2.10 ISK 255

$1.72 ISK 209

22.09%

White Bread (500g)

$4.19 ISK 508

$2.92 ISK 354

43.49%

Rice (white) (1kg)

$3.72 ISK 451

$2.45 ISK 297

51.84%

Eggs

$7.05 ISK 856

$5.67 ISK 688

24.34%

Local Cheese (1kg)

$21.56 ISK 2,615

$21.51 ISK 2,609

0.23%

Chicken Fillets (1kg)

$24.68 ISK 2,993

$32.22 ISK 3,908

-23.40%

Beef Round Steak (1kg)

$42.19 ISK 5,117

$43.27 ISK 5,249

-2.50%

Apples (1kg)

$3.23 ISK 392

$2.64 ISK 320

22.35%

Banana (1kg)

$2.73 ISK 331

$2.49 ISK 302

9.64%

Oranges (1kg)

$3.17 ISK 384

$2.44 ISK 296

29.92%

Tomato (1kg)

$6.61 ISK 802

$3.85 ISK 467

71.69%

Potato (1kg)

$3.85 ISK 467

$4.54 ISK 551

-15.20%

Onion (1kg)

$1.66 ISK 201

$2.05 ISK 248

-19.02%

Lettuce (1 head)

$3.80 ISK 461

$2.13 ISK 258

78.40%

Water (1.5 liter bottle)

$1.75 ISK 212

$2.18 ISK 264

-19.72%

Cigarettes 20 Pack (Marlboro, Camel)

$13.71 ISK 1,662

Wine (Bottle)

$24.21 ISK 2,937

$22.05 ISK 2,674

9.80%

Local Beer (0.5 liter bottle)

$3.53 ISK 428

$3.75 ISK 455

-5.87%

Imported Beer (0.33 liter bottle)

$3.32 ISK 402

$3.47 ISK 420

-4.32%

One-way Ticket (Public Transport)

$5.75 ISK 697

Public Transport Monthly Pass (Regular Price)

$93.8 ISK 11.4K

Taxi Start (Normal Tariff)

$6.61 ISK 802

$5.99 ISK 727

10.35%

Taxi (Normal Tariff) (1km)

$2.90 ISK 352

Taxi 1hour Waiting (Normal Tariff)

$79.2 ISK 9,602

Gasoline (1 liter)

$2.09 ISK 253

$2.34 ISK 284

-10.68%

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

$51.0K ISK 6.2M

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

$53.3K ISK 6.5M

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

$95.3 ISK 11.6K

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

$32.35 ISK 3,923

Internet (50+ Mbps, Unlimited Data)

$87.5 ISK 10.6K

Gym Membership (Monthly)

$102 ISK 12.4K

Tennis Court (1 Hour on Weekend)

$50.1 ISK 6,074

Cinema Ticket

$19.88 ISK 2,412

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

$1,194 ISK 144.8K

International Primary School, 1 Child (Yearly)

$25.4K ISK 3.1M

Jeans (Levis 501 Or Similar)

$149 ISK 18.1K

Summer Dress (H&M, Zara, etc)

$66.6 ISK 8,080

Sport Shoes (Adidas, Nike)

$180 ISK 21.8K

Men's Leather Business Shoes

$253 ISK 30.7K

1-bedroom Apartment, City Center (Monthly)

$2,549 ISK 309.2K

1-bedroom Apartment, Outside City Center (Monthly)

$2,056 ISK 249.4K

3-bedroom Apartment, City Center (Monthly)

$3,498 ISK 424.2K

3-bedroom Apartment, Outside City Center (Monthly)

$2,764 ISK 335.2K

Buy Apartment in City Center (m2)

$8,120 ISK 984.9K

Buy Apartment Outside City Center (m2)

$6,254 ISK 758.5K

Average Monthly Net Salary (After Tax)

$4,573 ISK 554.6K

20-Year Fixed Mortgage Interest Rate (Annual %)

8.81

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

Last update for Reykjavik: October 12, 2026

Last update for Egilsstadir: October 12, 2026

Monthly budget structure

Share of the monthly basket for one person, rent included.

Accommodation & Living

Reykjavik

$2.1K 51.4%

Egilsstadir

–

Groceries & Markets

Reykjavik

$623 15.6%

Egilsstadir

–

Eating Out

Reykjavik

$536 13.4%

Egilsstadir

–

Clothing & Footwear

Reykjavik

$292 7.3%

Egilsstadir

–

Monthly Utilities & Internet

Reykjavik

$215 5.4%

Egilsstadir

–

Sport & Entertainment

Reykjavik

$142 3.5%

Egilsstadir

–

Getting Around

Reykjavik

$138 3.5%

Egilsstadir

–

Good to know

🇮🇸 Reykjavik

🇮🇸 Egilsstadir

🕒 Local time

19:42 7:42 PM

Same time as Reykjavik

🌤 Weather

👥 Population

136,894 Capital

2,500

💱 Currency

Icelandic Króna ISK kr

📈 Exchange rate

1,000 ISK = 8.24 USD

1,000 ISK = 7.33 EUR

1,000 ISK = 8.24 USD

1,000 ISK = 7.33 EUR

Exchange rates and currency converter

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Distances are measured in a straight line. Your location is detected approximately.

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 groceries, eating out, and clothing. The 546% gap adds up to real monthly savings that compound significantly over time.

You'd need roughly $6,003 in Reykjavik and $929 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.

Supermarket bills run roughly 1% higher in Reykjavik. For households that cook at home regularly, that difference adds up over a month.

All in, you'll spend $4,002 per month in Reykjavik versus $620 in Egilsstadir – a 546% gap that adds up to real savings over time for anyone picking the cheaper option.

At $620 in Egilsstadir versus $4,002 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 546% less than in Reykjavik. Beyond cost, consider language, visa policies, and how big the international community is in each city.