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: $3,883 in Reykjavik versus $610 in Egilsstadir.

Estimated couple costs with rent: $5,535 in Reykjavik versus $998 in Egilsstadir.

Monthly costs for a family of three with rent: $7,188 in Reykjavik versus $1,385 in Egilsstadir.

Living in Reykjavik is roughly 536% more expensive than Egilsstadir, driven mainly by Eating Out.

The two cities straddle the global median: Reykjavik is 190% above, Egilsstadir is 54% below.

Meal at Budget Restaurant

$27.17 ISK 3,350

Three-Course Dinner for Two, Mid-Range

$144 ISK 17.7K

Fast Food Meal (McDonalds, etc)

$22.42 ISK 2,764

Cappuccino

$6.19 ISK 764

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

$3.28 ISK 405

Water (0.33 liter bottle)

$2.53 ISK 311

Local Beer (0.5 liter draught)

$13.11 ISK 1,617

Imported Beer (0.33 liter bottle)

$11.43 ISK 1,409

Milk (1 liter)

$1.94 ISK 239

$1.70 ISK 210

14.12%

White Bread (500g)

$4.29 ISK 529

$2.81 ISK 346

52.67%

Rice (white) (1kg)

$3.72 ISK 458

$2.35 ISK 290

58.30%

Eggs

$6.53 ISK 805

$5.69 ISK 702

14.76%

Local Cheese (1kg)

$17.88 ISK 2,205

$21.65 ISK 2,669

-17.41%

Chicken Fillets (1kg)

$24.10 ISK 2,971

$31.15 ISK 3,840

-22.63%

Beef Round Steak (1kg)

$42.88 ISK 5,288

$43.53 ISK 5,368

-1.49%

Apples (1kg)

$3.35 ISK 413

$2.61 ISK 322

28.35%

Banana (1kg)

$2.51 ISK 310

$2.47 ISK 305

1.62%

Oranges (1kg)

$3.13 ISK 386

$2.42 ISK 299

29.34%

Tomato (1kg)

$4.89 ISK 602

$3.73 ISK 460

31.10%

Potato (1kg)

$3.71 ISK 458

$4.45 ISK 549

-16.63%

Onion (1kg)

$2.32 ISK 286

$2.08 ISK 257

11.54%

Lettuce (1 head)

$3.07 ISK 378

$2.16 ISK 266

42.13%

Water (1.5 liter bottle)

$1.99 ISK 246

$2.22 ISK 274

-10.36%

Cigarettes 20 Pack (Marlboro, Camel)

$13.85 ISK 1,707

Wine (Bottle)

$23.47 ISK 2,894

$21.56 ISK 2,658

8.86%

Local Beer (0.5 liter bottle)

$3.62 ISK 447

$3.82 ISK 471

-5.24%

Imported Beer (0.33 liter bottle)

$3.38 ISK 416

$3.28 ISK 405

3.05%

One-way Ticket (Public Transport)

$5.10 ISK 629

Public Transport Monthly Pass (Regular Price)

$85.4 ISK 10.5K

Taxi Start (Normal Tariff)

$6.28 ISK 774

Taxi (Normal Tariff) (1km)

$2.57 ISK 317

Taxi 1hour Waiting (Normal Tariff)

$85.8 ISK 10.6K

Gasoline (1 liter)

$2.52 ISK 310

$2.56 ISK 316

-1.56%

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

$47.2K ISK 5.8M

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

$51.8K ISK 6.4M

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

$86.9 ISK 10.7K

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

$26.94 ISK 3,321

Internet (50+ Mbps, Unlimited Data)

$85.9 ISK 10.6K

Gym Membership (Monthly)

$83.4 ISK 10.3K

Tennis Court (1 Hour on Weekend)

$37.54 ISK 4,629

Cinema Ticket

$17.53 ISK 2,161

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

$321 ISK 39.5K

International Primary School, 1 Child (Yearly)

$30.2K ISK 3.7M

Jeans (Levis 501 Or Similar)

$140 ISK 17.2K

Summer Dress (H&M, Zara, etc)

$60.6 ISK 7,465

Sport Shoes (Adidas, Nike)

$181 ISK 22.3K

Men's Leather Business Shoes

$263 ISK 32.5K

1-bedroom Apartment, City Center (Monthly)

$2,175 ISK 268.2K

1-bedroom Apartment, Outside City Center (Monthly)

$2,023 ISK 249.5K

3-bedroom Apartment, City Center (Monthly)

$3,139 ISK 387.1K

3-bedroom Apartment, Outside City Center (Monthly)

$2,738 ISK 337.5K

Buy Apartment in City Center (m2)

$8,022 ISK 989.1K

Buy Apartment Outside City Center (m2)

$6,223 ISK 767.3K

Average Monthly Net Salary (After Tax)

$4,441 ISK 547.6K

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: May 30, 2026

Last update for Egilsstadir: May 31, 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 536% gap adds up to real monthly savings that compound significantly over time.

You'd need roughly $5,824 in Reykjavik and $915 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 1% less for everyday groceries. It's an unusual reversal that partly offsets higher costs elsewhere.

All in, you'll spend $3,883 per month in Reykjavik versus $610 in Egilsstadir – a 536% gap that adds up to real savings over time for anyone picking the cheaper option.

At $610 in Egilsstadir versus $3,883 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 536% less than in Reykjavik. Beyond cost, consider language, visa policies, and how big the international community is in each city.